About This Fund
Flashpoint Direct Secondary Fund II is the second vehicle of Flashpoint's dedicated Direct Secondary strategy and the firm's eighth fund overall, launched in early 2026 with a target size of US$75–100 million. Managed by Flashpoint Direct Secondary, the specialist secondary arm of London-based technology investment firm Flashpoint, the fund addresses growing demand for liquidity solutions within the maturing European and Israeli technology ecosystem. The fund provides secondary liquidity to early investors, employees, and founders in established, high-growth technology businesses—predominantly those originating from Europe and Israel—without requiring a full company sale or IPO, enabling sellers to monetize long-held positions while Flashpoint gains exposure to mature, revenue-generating businesses.
The fund focuses exclusively on direct secondary transactions: purchasing equity stakes directly from shareholders of individual portfolio companies rather than acquiring LP interests in other funds. Target companies typically generate $20 million or more in annual recurring revenue, have achieved market leadership in their respective technology verticals, and are at a stage where traditional primary VC financing is no longer the dominant capital need. The fund is led by General Partner Michael Szalontay and Partner Lukas Harustiak, specialists in the European and Israeli secondary market. Its first close in January 2026 was supported by twenty limited partners, including international family offices and high-net-worth individuals, many of whom were returning investors from the predecessor Flashpoint Secondary Fund I.
The predecessor Flashpoint Secondary Fund I, launched in 2021 and anchored by the Scheinberg family office, validated the direct secondary thesis by completing ten investments in the European and Israeli tech ecosystem, including Preply (which achieved unicorn status in late 2025), Printify (unicorn late 2024), Chess.com, Travelier, AirHelp, K2View, and Booksy. The strong performance trajectory of these portfolio companies established Flashpoint Direct Secondary Fund II's position as the natural successor, with a modestly increased target reflecting both the maturation of the direct secondary market and the fund's well-established track record attracting significant repeat investor commitment.