May at Mara

A note from Aleksandra

May has been a month of meaningful conversations around how private market investing continues to evolve, not only in terms of opportunities, but in how access is structured.

Across our work this month, one theme stood out consistently: investors are increasingly looking for smarter, more flexible ways to participate in private markets. Whether through multi-asset SPVs, syndicate models, or tailored structures enabling access to high-quality companies, we continue to see growing demand for efficient, investor-aligned solutions.

Alongside this, we’ve had the privilege of bringing together founders, fund managers, LPs, and operators through our events and webinar series, creating space for candid conversations around venture, sport, syndicates, and the future of investing.

I hope you enjoy this month’s updates, and as always, if anything resonates or sparks a conversation, I’d love to hear from you.

🚀 Founder Games: One Vehicle, Broader Exposure

🟠 This month, we supported a structure that enabled investment across 20 start-ups through a single multi-asset SPV, providing investors with streamlined access to a diversified set of opportunities through one vehicle.

Beyond simplifying execution, the structure enabled capital to be deployed efficiently across a curated portfolio, reducing friction while increasing exposure to high-potential companies without the need for a separate SPV for each investment.

As private market investing becomes increasingly dynamic, multi-asset SPVs are emerging not simply as an administrative solution, but as a way to help sophisticated investors and syndicate leads act with greater precision, enabling faster participation in differentiated opportunities while maintaining focus on diligence, conviction, and execution. Increasingly, investors are also looking for signals beyond traditional sourcing channels, with experienced ecosystem builders and operators helping validate emerging models and access pathways.

In the case of Founder Games, this is reflected in the involvement of seasoned global media operators including Larry Namer, co-founder of E! Entertainment, and Tim Crescenti, formerly of Sony/Fox and associated with the international expansion of formats such as Dragons’ Den and Shark Tank offering validation not from a celebrity perspective, but from individuals with deep experience building and scaling media ecosystems around founder-led businesses.

For investors and syndicate leads alike, these structures are helping shift the emphasis away from process and towards what matters most: intelligent access to opportunities and the ability to deploy capital effectively.

Deal Spotlight: Supporting Client Access to Anthropic

🟠 This month, we supported multiple clients in accessing an investment into Anthropic, one of the leading frontier AI companies focused on developing safe, reliable, and high-performance foundation models for enterprise and developer use.

Through an SPV structure, we helped facilitate participation for our clients’ LPs in a company that continues to see strong momentum across enterprise adoption, model development, and AI infrastructure.

Anthropic’s investor base, spanning leading venture firms, strategic technology players, sovereign wealth funds, and global financial institutions reflects the growing importance of frontier AI systems in today’s technology landscape.

More broadly, this transaction highlights an increasing trend we continue to see across private markets: demand for flexible investment structures that enable efficient access to high-quality opportunities.

Mara Events

Syndicate Playbook Webinar Series

🟠 In Syndicate Playbook Webinar Series #4, we explored one of the most important and often misunderstood aspects of running a syndicate: how to commercialise it sustainably.

Joined by Oliver Rye (Hersir Ventures), Daniel Mician (dmq ventures), and Jonathon Ilett (Revenue Syndicate), and moderated by Sasha Batica (Mara), the discussion unpacked how experienced syndicate leads think about fees, carry, SPV costs, and LP alignment in practice.

The session offered candid insights into evolving syndicate models, common pitfalls, and the trade-offs involved in building something that is both investable and durable.

Most importantly, the discussion reinforced a simple reality: sustainable syndicates require thoughtful economics, clear alignment, and long-term trust between managers and LPs.

Check the recording here.

Unlocking Investment Opportunities in the Business of Sport: The Extra Time

🟠 This month, we hosted the third edition of Unlocking Investment Opportunities in the Business of Sport: The Extra Time, bringing together investors, operators, and sports industry leaders for an evening of thoughtful discussion and meaningful exchange.

We were delighted to welcome:

🏸 Alex Gough — CEO of the Professional Squash Association (PSA), the global governing body for professional squash

🌐 Massimo Marinelli — investor, founder of Berkida Ventures, and former board member of Leeds United

🏟️ Samir Beg Ceric — investor, Chairman of Ceric & Co, and one of the leading voices in the digitalisation of sport, returning by popular demand

This edition focused on what happens after investment decisions are made, exploring topics such as the evolution of sports investing, post-acquisition realities, due diligence, hidden risks, and the growing role of technology, data, and digital value creation in sport.

One theme stood out clearly throughout the evening: sport is increasingly becoming a broader ecosystem investment opportunity, extending far beyond club ownership alone.

A huge thank you to everyone who joined us and contributed to such an insightful conversation. We’re excited to continue building this community and exploring the future of investing in sport together.

Reflections from VC Summit London 2026

🟠 Earlier this month, Aleksandra attended VC Summit London 2026, joining investors, founders, and fund managers for conversations shaping the future of venture.

Across the summit, several themes emerged: continued momentum around AI and deep tech, growing discipline around capital deployment and portfolio construction, and the importance of differentiated access in an increasingly competitive market.

Discussions also highlighted evolving LP expectations, fundraising dynamics, and the growing role of fund structures and co-investments in long-term value creation.

Beyond the panels, the summit offered a valuable opportunity to connect with peers across the ecosystem and hear first-hand how managers are navigating today’s rapidly evolving venture landscape.

Mara & Friends Webinar Series

🟠 This month, we hosted a conversation with Shahryar Barati, Founder & Managing Partner of Project Ventures, exploring what it takes to build a venture fund in today’s fast-moving AI and deep tech environment.

The discussion covered the journey from investment thesis to fund launch, how investors can identify genuine opportunities amid the AI hype cycle, and the importance of building differentiated access to exceptional founders.

We also explored a broader question around the future of venture capital: how fund structures, investor participation, and community-building can help make venture investing more accessible and inclusive.

Check the recording here.

Looking Ahead: June at Mara

Structuring Masterclass with Isomer & Mara

🗓️ 3 June | 3:00 PM BST

🟠 Join us for a practical masterclass exploring investment structuring, SPVs, and key considerations for managers and investors navigating private markets.

🟠 Sign up here.

Mara Club: Secondaries

🗓️ 16 June | 8:30 AM – 11:00 AM

The Mara Club, exclusive to Mara clients, exists to bring LPs together to network, exchange ideas, invest personal capital, and generate thought leadership.

This month’s session will focus on the evolving secondaries landscape, exploring the key verticals shaping the market today and what investors should be paying attention to.

Book an introduction call with us to learn more.