Carta and NewView Team Up on Tender Offers: 70-Plus in H1 2026, but Only 44 at Series C and Later

Carta and NewView Capital announced a partnership on Sept. 22 to run company-sponsored tender offers, the deals in which employees sell some shares to an approved buyer at a set price. The two companies say Carta administered 70-plus tender offers worth $3 billion in the first half of 2026, which the release calls the strongest first half on record.

TechCrunch's Oct. 23 report puts a smaller number beside it. Across a NewView and Carta dataset of Series C and later startups, only 44 tenders were executed in the first six months of 2026, though the count has tripled over three years.

70 tenders and 44 tenders are different counts

The joint press release, issued through PR Newswire from San Francisco, covers every tender Carta administered. TechCrunch's 44 covers the later-stage slice. Neither source says how many of the 70-plus fall at earlier stages, so the split is not published.

If the count were exactly 70, $3 billion implies an average of about $43 million per tender. The release gives no median, and a few very large deals would pull an average up.

Figure	Value	Source
Tenders administered, H1 2026	70-plus	Carta and NewView release
Transaction volume, H1 2026	$3 billion	Carta and NewView release
Tenders at Series C and later, H1 2026	44	TechCrunch, citing the two firms' study
NewView secondary transactions completed	500-plus	Carta and NewView release

The tenders named: Wayve, Decagon, Hightouch

TechCrunch cites three examples. Wayve launched an $85 million employee tender at an $8.5 billion valuation in June 2026, Decagon completed one at $4.5 billion in March 2026, and Hightouch, a NewView portfolio company, held one at $1.3 billion in 2025. ElevenLabs has run two tenders in under a year.

1. Wayve (June 2026)8.5 $ billion
2. Decagon (March 2026)4.5 $ billion
3. Hightouch (2025)1.3 $ billion

Source: TechCrunch, Oct. 23, 2026, accessed 2026-10-24

Wayve's $85 million is about 1 percent of its $8.5 billion valuation. A tender of that size lets long-serving staff cash out a little without moving the cap table, which is the point: it is a retention tool, not an exit.

Why the partnership exists: companies stay private

Ravi Viswanathan, founder and managing partner of NewView, says in the release that "companies are choosing to stay private far longer, making liquidity an essential part of the private company lifecycle." He tells TechCrunch he expects companies to stay private for 12 to 15 years and that being a unicorn no longer attracts talent as it once did.

Rohin Shah, Head of Strategic Partnerships at Carta, says in the release that the collaboration gives founders "both the right infrastructure and the right capital partner." The release itself states that the two firms have an existing commercial relationship and may benefit economically from the collaboration, so each is describing the other.

The backdrop is a slow exit market. This site has reported that boom-era startups are selling below peak, and put a paper value on a large Anthropic stake held by an investor.

What is still unknown

Neither source discloses the fee Carta or NewView earns, who the buyers are in most tenders, or the price discount against the last primary round. TechCrunch reports that adoption stays small: 44 tenders is a thin base. The release says several tender offers are already underway under the partnership, with more expected in the coming months.