Investment Firm 137 Ventures Closes $700 Million, Creates New Way for Private Company Employees to Cash Out

137 Ventures closed $700 million across two new funds. The firm now manages over $15 billion. The strategy pairs growth investments in young companies with a separate fund that buys out shares from founders and employees before the company goes public. Companies stay private much longer today than they used to, so workers need earlier ways to sell their stake.