The Chicago-based venture firm's largest fund yet reflects booming demand for private secondary market deals as tech companies stay private longer. G Squared just closed the biggest fund in its 15-year history. G Squared VII closed on August 5 and will target growth-stage technology companies through private secondary transactions, company-led tender offers, structured investments, and selective primary financings. AdvertisementA fund that’s riding a structural shiftThe $2.3 billion raise is a significant step up from G Squared VI, which closed at $1.1 billion in August 2024. The secondary market is having a momentThe global secondary market hit a record $240 billion in transaction volume in 2025, representing a 48% year-over-year increase.