We transacted $100M of secondary in that auction, and a few days after the transaction settled we had inbound interest for a primary at that same valuation. We knew that we had about $1B in aggregate demand, and we had a price in hand. We were able to choose a lead investor based on the value they could add to the business, not the valuation they were willing to offer. We chose Silver Lake, one of the most thoughtful and creative private equity investors in the world, to lead the round. After that, all we had to figure out was allocations.

https://henrysward.medium.com/carta-series-g-3a3702f69b11