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← Signal: Tech & AI

Carta and NewView partner to streamline employee share sales at private startups

Confirmed1 source · Oct 23, 2026

The collaboration aims to make tender offers—which allow employees to sell restricted shares early—easier for founders to implement as startups remain private longer.

Carta and NewView partner to streamline employee share sales at private startups
Image via TechCrunch

What happened

Carta, an equity management platform, has partnered with NewView Capital, a venture firm specializing in secondary deals, to simplify the process of launching tender offer programs at late-stage startups. Tender offers allow employees and early investors to sell a portion of their shares to approved investors at a predetermined price. NewView founder Ravi Viswanathan framed the partnership as a way to help CEOs and companies manage liquidity programs more seamlessly. According to a joint study by NewView and Carta, tender offers are projected to increase threefold among Series C and later-stage startups over the past three years. However, adoption remains limited: only 44 tender offers were executed in the first half of 2026, suggesting the overall share of startups launching these offerings is still relatively small.

Context

Startups are staying private for 12 to 15 years, leaving employees with illiquid equity compensation and limited ways to realize value before a potential exit. This extended private phase creates a retention challenge, as the status of being a unicorn no longer uniquely attracts talent in a market with numerous billion-dollar companies. Tender offers provide a mechanism to offer employees early liquidity without forcing a company exit, positioning them as both retention and morale tools. Recent adopters include high-profile companies like Decagon, Wayve, and ElevenLabs, along with smaller-stage companies like Hightouch (valued at $1.3 billion after seven years). Viswanathan frames early liquidity as a "win-win-win" for employees seeking cash, companies seeking retention, and investors seeking secondary deal opportunities.