Paths to Liquidity Program

Program Overview

Now in its second year, The Paths to Liquidity program is tailored for later-stage Endeavor Entrepreneurs who are actively exploring company-wide liquidity events such as IPOs, M&A, or navigating partial liquidity in the interim. This year-long program provides unparalleled access to seasoned experts and peer-to-peer learning, empowering you to make informed, strategic decisions for your company’s next chapter.

Key Themes

Navigating the ever-changing IPO landscape amidst stock market volatility
Transitioning to a public company CEO and handling stock market volatility
Telling your story to public market investors / potential acquirers
Building out the CFO function as a public company
Inner-workings of an M&A sale process
Choosing the right advisors for your IPO or M&A
Post-merger integration challenges and realities

Upcoming Sessions

Now in its second year, join us for a series of Paths to Liquidity masterclasses designed for founders navigating key decisions around IPOs, M&A, and secondary liquidity. These sessions bring together experienced investors, operators, and advisors who have led companies through major liquidity events and can share practical lessons on preparing for exits, engaging with buyers and public market investors, and managing complex transactions.

April TBD | Is the IPO Window Reopening? Lessons from Recent Emerging Markets Listings

In this session, former Fidelity portfolio manager Will Pruett, who previously covered LATAM financial services stocks and now serves on the boards of dLocal and PicPay, will share perspectives from both the public markets and boardroom on the evolving IPO environment for emerging market companies. Moderated by Endeavor, this conversation will explore key questions founders are asking today: how to evaluate the decision and timing of listing in the U.S., the importance of anchor investors, what to expect during the first reporting cycle after an IPO. More broadly, we’ll dive into whether the recent wave of Brazilian listings signals a broader reopening of the IPO window for emerging market companies. The session will also feature insights from André Cazzoto (PicPay’s head of IR) on the company’s recent Nasdaq listing.

May 5 | Inside a Live M&A Process: What Founders Should Expect

In this session, Ritika Butani, Global Head of Corporate Development and Corporate Strategy at Remitly and former Head of Corporate Development at Toast, will share practical insights from leading acquisitions and strategic investments across fintech and software platforms. Earlier in her career, she also led transactions at Square, including involvement in deals such as Afterpay.Drawing on more than two decades of corporate development experience, Ritika will walk founders through the key stages of a live M&A process, from early conversations and pre-LOI discussions through diligence, negotiation, and closing. The conversation will also cover how founders can approach conversations around deal terms that often shape outcomes, including earn-outs, retention packages, and other mechanisms that affect value preservation.

Program Formats

Participants will engage through:

Masterclasses: Speaker sessions with public market experts, strategic acquirers and dealmakers, and seasoned operators
One-on-One Mentorship: Personalized introductions and tailored guidance from the Access to Capital team
Later-stage Roadshow support: Guidance on fundraising round positioning, investor list construction, and warm introductions to leading late-stage and pre-IPO investors and advisors
Peer-to-Peer Cohort: Trust-based groups for candid discussions

In-Person Gatherings

Engage with your Paths to Liquidity Peers around the world:

Paths to Liquidity Summit in London: During UK Fintech week on April 22nd, 2026, the cohort will gather at the London Stock Exchange.
Outliers Retreat: An intensive three-day experience in Comporta, Portugal with masterclasses with successfully exited founders and dedicated peer groups on relevant topics
Endeavor Week: Dedicated masterclasses on IPO preparation, intimate gatherings with relevant later-stage investors, founder interviews on the trading floor of the New York Stock Exchange

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