One of the First in Secondaries
Ben Black and Pete Smith launched Akkadian Ventures to buy direct secondary shares from employees, founders, and early investors – when the market was still < $20B and largely unproven.
Pedigree
Powerlaw Fund Adviser, LLC.
16 years of private technology investing. More than 900 transactions and counting.
Powerlaw builds on the investment experience of Akkadian Ventures, with a 16-year track record across venture capital and secondaries, providing liquidity to founders, employees, and investors while building a deep origination engine across the private-market ecosystem.
Powerlaw Corp. (Nasdaq: PWRL) is advised by Powerlaw Fund Adviser, LLC, a registered investment adviser under common control with Akkadian Ventures.
*All figures as of June 30, 2026. Assets under management represents regulatory assets under management.
- $1.55B
- Assets under management*
- 139
- Portfolio companies*
- 59
- Portfolio exits*
- 5,000+
- RAISE global network
- 900+
- unique secondary transactions*
- 16+ yrs
- in venture secondaries*
A History of Firsts
Powerlaw Corp. (Nasdaq: PWRL) is the first product of Powerlaw Capital Group and managed by Powerlaw Fund Adviser, LLC. The firm is backed by Akkadian Ventures' 16-year heritage in institutional private-company secondary markets.
Scaling the Secondary Market
Akkadian closes its latest and largest flagship fund: $276M Fund VI to continue building one of the leading direct-secondary platforms in the market.
Expansive Innovation Engine
PWRL begins trading on the Nasdaq Stock Market as the first product of Powerlaw Capital Group. The US Venture Capital Market now exceeds $1.24 Trillion.
RAISE Global Established
Akkadian creates RAISE Global, which becomes one of the leading LP–GP emerging manager conferences connecting forward-thinking allocators with next-generation venture talent.
Powerlaw Capital Group Launches
Powerlaw Capital Group emerges as a platform with the goal of bringing exposure to leading private technology companies into the public market for investors globally.
Powerlaw Corp. was born from two simple but powerful truths.
The Power Law
In private technology investing, a small number of breakout companies have historically generated a disproportionate share of total returns. Our name reflects this principle.
The Access Gap
Private companies are staying private longer than at any time in modern market history. Until now, the value created during those private years has been available almost exclusively to insiders and institutional investors — leaving most of the world locked out of the asset class.
The top tier companies of a Venture Capital fund typically generate 97% of the exit profits.1
1. Source
We believe venture capital wisdom should be available to everyone.
Powerlaw Corp. is the first listed product of Powerlaw Capital Group and is advised by Powerlaw Fund Adviser, LLC. The Fund draws on more than two decades of operational and origination experience inside private technology.