Colin used Sydecar to run SPVs and co-investments alongside his fund.

According to data from Sydecar reported in May 2025, nearly 80% of secondary deal allocation in Q1 2025 went to AI (50%) and Aerospace and Defense (28%).

Special-purpose vehicles could aid RIA alts access.

"Special purpose vehicles (SPVs) have become the market’s fastest-growing access channel for retail engagement, granting exposure to coveted late-stage startups once reserved for institutional investors. Compared with 2023 levels, the number of secondary SPVs is up 682% and capital raised has surged 1,340% YTD."

Sydecar's Nik Talreja was interviewed on this podcast.

Nik Talreja, CEO of Sydecar, a technology company for the financial services industry, agreed there is private capital investment money that is not being invested.

Comparing activity on Sydecar from 2023 with the first three quarters of 2025, the number of secondary SPVs increased by 682% and total capital raised surged by 1,340%.

Shriram Bhashyam, COO of fund administration platform Sydecar, points out that the problems on the public equity size might me investment-related.

Shriram Bhashyam, the chief operating officer of Sydecar, a special purpose vehicle and fund administration platform for venture capital, names data governance and data access as two major drivers of operational inefficiency.

This entire article was written by Sydecar's CEO, Nik Talreja.