Letter From The Founders: New Owner and CEO in 2024

Adam Hardej to take over as owner and CEO in 2024. Ali and Olivier transitioning out to explore new projects.

For those of you who don’t know me, my name is Ali Moiz and I’m the Founder of Sandhill Markets. Thank you for signing up in our first year and supporting us! It was a whirlwind.

One thing we learned in 2023 is that secondaries are tough. Companies are not always supportive, transactions can take months to close, diligence is tricky, and it's a highly regulated market. After a lot of hard conversations, my co-founder Olivier Palta and I came to the conclusion that we’re more excited about working on other problems. Given that, we have decided to spin out the Sandhill Markets platform and pursue something new in 2024. 

Adam Hardej - your favorite newsletter editor and VP of Investments - will take over ownership of the Sandhill Markets platform and the role of CEO. This transition is designed to provide you with continued support for the investments you’ve made with us already as well as ongoing services related to private market access and education.

We’re confident you’re in good hands and Adam has some exciting plans for 2024 that he will share with you soon!

Thank you again for your support. It means the world to us.

I also wrote a letter to our investors regarding our pivot that we wanted to share here in order to be as transparent as possible. We’re proud of what we built, but ultimately believe Sandhill will be in a better position to serve LPs without the pressure to scale that comes with VC backing. Read the full letter here.



What happens to this Newsletter?

Adam will continue to produce and deliver this Newsletter in 2024. Stay tuned here for private market news, events (both virtual and IRL), and announcements related to the platform going forward.

What happens to my Investments?

No changes. They will continue to be managed by Sandhill Advisors LLC, which is now owned by Adam. Our 3rd-party fund admin Sydecar (or AngelList for some earlier funds) will provide tax documents (K-1s) and LP reporting. Ping [email protected] if you need help. 

Is there any action needed by me?

Please review and save information on the Portfolio page, including downloading any relevant documents. This page will not be available going forward, but you can request this information manually by pinging [email protected] or by logging into your Sydecar or Angellist account. Adam will remind you of all this in his communication to LPs soon.

How will the Sandhill Markets platform change?

Adam plans to get back to basics. This means less in-house tech (auctions for example) and more privately shared deals (506b rather than 506c). Sandhill Private members will continue to receive the benefits they were promised, but will also be given the option to cancel their membership if preferred. Adam will be in touch with details on all this soon so stay tuned!

How can I get in touch with Adam?

Adam will reach out soon with more details and plans for 2024. You can also ping him directly at [email protected], follow him on X (Twitter) here, or connect with him on LinkedIn here.