Investment Disclaimer
Last updated: July 2026
1. Not financial, legal or tax advice
Secondary Club is not your financial adviser, broker, lawyer or accountant, and is not a registered investment adviser. The Book describes how private markets work in general terms. Before making any investment decision, consult a qualified professional who knows your circumstances.
2. Pre-IPO investments are high-risk
- Illiquidity — private shares can rarely be sold quickly, and sometimes not at all. Capital may be locked up for years.
- Loss of capital — many private companies fail or exit below their last private valuation. You can lose your entire investment.
- Limited information — private companies are not required to publish audited financials; you will know less than you would about a public company.
- Dilution and preferences — later investors may hold rights that reduce the value of your shares.
Never invest money you cannot afford to lose entirely.
3. No performance claims
Any figures, examples or case studies in the Book are illustrations of how transactions work — not promises, projections or typical results. Past performance of any market or company is not indicative of future results.
4. Eligibility and regulation
Access to private-market investments is regulated and varies by country. Some routes described in the Book are available only to accredited or qualified investors. It is your responsibility to confirm what you are legally permitted to do in your jurisdiction.
5. Third-party platforms
The Book and its annex mention third-party platforms and services. These references are informational, not endorsements. We receive no compensation for mentions, and we are not responsible for their conduct or solvency.
6. Your responsibility
Any decision you make after reading the Book is yours alone. To the maximum extent permitted by law, Secondary Club accepts no liability for losses arising from reliance on the Book or this website.