We are not another platform. We are a GP that curates a single high-conviction opportunity each month, executes the full process through a regulated UK vehicle, and provides liquidity when the market allows — so your clients access the deals that matter, cleanly and compliantly.
Your clients are sophisticated, but their time is scarce and the private secondary market is opaque. Rather than handing them a catalogue of hundreds of listings to filter alone, we do the hard work upstream — sourcing, diligence, structuring and execution — and bring forward roughly one conviction opportunity per month.
We invest in roughly one deal a month, on companies we would put our own capital into — typically on the company's own cap table as GP.
Companies valued between $1B and $10B, where there is still meaningful upside — targeting 2–3x, and in select cases 5–7x, within an ~18-month horizon.
We act as General Partner, not as a passive intermediary. Our outcomes are tied to the same returns your clients receive.
Investments are structured through Odin — a tax-transparent UK trust acting as nominee, and FCA-regulated. Odin provides the full scope of compliance for each transaction, so your clients invest within a clean, institutional framework.
A tax-transparent UK trust acts as nominee on each deal. The structure is designed for cross-border private market participation with institutional governance.
Full know-your-customer and know-your-business checks are run on every participating investor.
The same diligence is applied to the counterparties from whom we acquire shares — not just the buy side.
Odin handles the complete compliance workflow per transaction, keeping the process auditable end to end.
From the first signal to settled shares and beyond, your clients deal with one accountable team.
We surface opportunities through our network of founders, family offices, brokers, GPs and fund managers.
We assess the company, price and terms, then structure the deal through the Odin regulated vehicle.
KYC/KYB, settlement and onboarding are handled for both buyers and sellers, all the way to close.
When conditions allow, we provide exits internally or through the market — see below.
Key metrics from the Upscalers community for the first quarter of 2026.
All Upscalers investments since inception — stage, entry valuation, current valuation, multiple, IRR, and status.
| Company | Date | Stage | Val. at Entry | Val. Today | Multiple | Ann. IRR | Status |
|---|---|---|---|---|---|---|---|
 MercorAI hiring platform connecting companies with elite global talent.
|
Apr 2026 | Secondary | $10.2B | $10.2B | 1.00× | — | Holding |
 RevolutGlobal neobank and financial superapp with 50M+ customers across 35+ countries.
|
Mar 2026 | Secondary | $75B | $100B | 1.33× | 835% | Holding |
 SpaceXAerospace manufacturer behind Starlink, Falcon 9 and Starship — the world's most valuable private company.
|
Mar 2026 | Secondary | $1.25T | $1.75T | 1.40× | 1,266% | Holding |
RevolutGlobal neobank and financial superapp with 50M+ customers across 35+ countries.
|
Jan 2026 | Secondary | $75B | $100B | 1.33× | 169% | Holding |
 AnthropicAI safety company and maker of Claude — trusted by 8 of the Fortune 10.
|
Oct 2025 | Secondary | $173B | $800B | 4.62× | 1,586% | Holding |
 ConvexReactive backend-as-a-service that lets developers build real-time apps without managing infrastructure.
|
Oct 2025 | Series A | $80M | $80M | 1.00× | — | Holding |
 DeelGlobal HR and payroll platform enabling companies to hire and pay anyone, anywhere.
|
Oct 2025 | Secondary | $10.1B | $17.3B | 1.71× | 170% | Holding |
 HuskeysEdge Security Management platform modernising web application firewall tech for cloud-native environments.
|
Jun 2025 | Seed | $25M | $25M | 1.00× | — | Holding |
 BaubapMexico's leading microloan app providing fast, accessible consumer credit to underserved borrowers.
|
Apr 2025 | Series A | $100M | $100M | 1.00× | — | Holding |
 EmeraldFintech platform enabling emerging market investors to access diversified global assets seamlessly.
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Nov 2024 | Pre-Seed | $5M | $7.5M | 1.50× | 32% | Holding |
 UnravelData pipeline intelligence platform helping teams monitor, optimise and cut cloud data costs.
|
Oct 2024 | Series A | $27M | $27M | 1.00× | — | Holding |
 MarbleInsurance automation platform streamlining policy management and claims processing with AI.
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Aug 2024 | Pre-Seed | $8.5M | $8.5M | 1.00× | — | Holding |
 MarblismAI-powered full-stack app generator that builds production-ready code from a prompt in minutes.
|
Apr 2024 | Pre-Seed | $25M | $25M | 1.00× | — | Holding |
 StackOneUnified HR and workforce management API enabling product teams to ship integrations in days, not months.
|
Nov 2023 | Pre-Seed | $15M | $90M | 6.00× | 107% | Holding |
IRR = annualised internal rate of return based on entry date to April 2026. Short-dated positions show very high IRR due to compressed time periods — interpret alongside the multiple. Sources: TechCrunch / Mercor, Reuters / Deel, RegTech Analyst / Huskeys.
Deals under active discussion for Q2 2026. For member eyes only.
World's first AI system capable of autonomously executing financial workflows end-to-end — reasoning that meets or exceeds human-level performance in finance.
Agentic compliance OS — audit-ready in 10 hours, not 10 weeks.
$400M ARR — added $200M since January. Targeting $1B EoY. Secondary add-on at current valuation.
$935M+ raised. Series B closing Q2. Deployed at Mercedes-Benz facilities.
Only CFTC-regulated prediction exchange. $2B → $22B in under 12 months.
Battery-first residential energy. $4B Series C. Backed by a16z, CapitalG, Lightspeed.
Blended ranking across Hiive50, Augment Power 20, Forge Global, EquityZen, and Notice.co data as of Q1 2026. ★ = Upscalers portfolio position. ↗ Q2 = pipeline target. Mercor shown at its blended rank (~48th) as a portfolio position outside the top 30.
| # | Company | Sector | Est. Valuation | Q4 2025 ∆ | Liquidity | IPO Horizon | Sources |
|---|---|---|---|---|---|---|---|
| 1 | SpaceX ★ | Aerospace | $1.75T | +106% | 2026–27 | Augment #1 · Hiive #1 · Forge ✓ | |
| 2 | Anthropic ★ | AI / Safety | $800B | +62% | 2026–27 | Augment #2 · Hiive #7 · Forge ✓ | |
| 3 | OpenAI | Gen. AI | $852B | +28% | 2026 | Augment #4 · Forge ✓ · EqZen ✓ | |
| 4 | Anduril | Defense | $28B | +45% | 2027+ | Augment #3 · Forge ✓ | |
| 5 | Databricks | Data / AI | $88B | +20% | 2026–27 | Augment #5 · Hiive #11 · Forge ✓ | |
| 6 | Stripe | Fintech | $107B | +18% | Late 2026 | Augment #6 · EqZen ✓ | |
| 7 | xAI | Gen. AI | ~$120B | +73% | 2027+ | Augment #7 · Notice ✓ | |
| 8 | Revolut ★ | Fintech | $100B+ | +33% | H2 2026+ | Augment #9 · Notice ✓ | |
| 9 | Kraken | Crypto | $20B | +33% | 2026 | Hiive #2 · Forge #1 · EqZen ✓ | |
| 10 | Cerebras | AI Chips | $8.1B | +23% | 2026 | Hiive #3 · EqZen ✓ | |
| 11 | Neuralink | BioTech / AI | $9B+ | +28% | 2027+ | Augment #10 · Hiive ✓ | |
| 12 | Ramp | Fintech | ~$13B | +25% | 2027 | Augment #8 · Notice ✓ | |
| 13 | Cursor AI | Dev Tools | ~$9B | +85% | 2027+ | Augment #14 · Hiive ✓ | |
| 14 | ByteDance | Social / AI | $500B | +43% | 2027+ | Augment #11 · Forge ✓ | |
| 15 | Polymarket | Prediction | $14.2B | +53% | 2027+ | Augment #19 · Notice ✓ | |
| 16 | Ripple | Crypto | $18B | +6% | 2026 | Hiive #6 · Forge ✓ (148 orders) | |
| 17 | Lambda | AI Infra | $6.2B | +31% | H1 2026 | Hiive #4 · EqZen ✓ | |
| 18 | Kalshi ↗ Q2 | Prediction | $22B | +151% | 2026–27 | Augment #18 · Hiive #13 | |
| 19 | Shield AI | Defense | ~$5B | +8% | 2027+ | Augment #15 · Forge ✓ | |
| 20 | Rippling | HR Tech | $16.8B | +5% | 2026–27 | Augment #12 · EqZen ✓ | |
| 21 | Groq | AI Inference | $2.8B | +12% | 2027+ | Augment #20 · Hiive #8 | |
| 22 | Canva | Design SaaS | $32B | +10% | 2026 | Augment #13 · EqZen ✓ | |
| 23 | Deel ★ | HR / Payroll | $17.3B | +71% | 2027+ | Notice ✓ · Forge ✓ | |
| 24 | Perplexity AI | AI Search | $9B | +10% | 2027+ | Hiive #10 · Notice ✓ | |
| 25 | Apptronik ↗ Q2 | Robotics | $5.5B | +1% | 2027+ | Hiive #9 · Augment Watch | |
| 26 | Saronic | Defense | $9.25B | +91% | 2027+ | Forge ✓ (+56% price) | |
| 27 | Zipline | Drone Delivery | $7.6B | +97% | 2026–27 | Forge ✓ (+97% price) | |
| 28 | Glean | Enterprise AI | $4.6B | +30% | 2026–27 | Augment ✓ · Notice ✓ | |
| 29 | Cohesity | Data Security | $7B | +8% | 2026 | EqZen ✓ · Notice ✓ | |
| 30 | Lovable ↗ Q2 | AI Dev Tools | $6.3B | +180% | 2027+ | Notice ✓ · Hiive emerging | |
| ~48 | Mercor ★ | AI Hiring | $10.2B | +728% | 2026–27 | Hiive $744/sh · Forge ✓ |
Sources: Hiive50 Index · Augment Power 20 Q4 2025 · Forge Global · EquityZen 2026 IPO Outlook · Notice.co. Rankings are a blended composite of activity, price growth, and demand signals — not a single platform's list. ★ = invested. ↗ Q2 = pipeline target. Mercor (~rank 48) included as a portfolio position outside the top 30. Price changes based on Q4 2025 Augment Price data unless otherwise noted.
We provide your clients with access to selected private market opportunities where we act as GP — often investing directly on the companies' cap tables. You offer a differentiated, curated service without building the sourcing engine yourself.
We source liquidity solutions, secondary transactions and bespoke opportunities through our network of investors, family offices, brokers and fund managers — giving your clients optionality that is hard to access elsewhere.
Our own mobile platform efficiently matches investor demand with the right opportunities — the engine behind the curation.
A community of founders, C-level executives and senior leaders from leading technology companies and unicorns — extended through founders, family offices, brokers and GPs across the private markets.
We actively help investors access liquidity through internal LP-to-LP transfers, buyer sourcing within our community, and external distribution across our broader network.
Below are direct answers to the seven follow-up questions you shared. Each block is self-contained so any teammate of yours can review it independently.
Narrative & supporting evidence to be filled in (notable deals, exit case studies, settlement workflow detail).
Explanation of how shares are held (nominee / SPV / direct), and whether they can be recognised inside Santander's custody perimeter or remain off-platform.
Detail of the all-in client cost, what is paid to Upscalers vs Odin, and the rev-share / referral structures available to Santander.
KYC/AML perimeter via Odin, LatAm-specific notes, and any required local entity / wrapper.
Cadence (monthly / quarterly), format (PDF / API / CSV) and integration options.
Frequency of revaluation, mark policy, and how stale rounds are handled.
What is on Santander side, what is on Upscalers / Odin side, and the touchpoints in between.
I would be delighted to speak with your colleague and explore potential synergies in more detail. If she is in Europe next week, I would be happy to meet — Paris would be easiest, though I can also travel to London if more convenient.
Looking forward to hearing from you and discussing next steps.