Capital · Startup exit strategies · Entry 01 Updated 24 July 2026

The periodic table of startup exits

35 founder pathways in 5 families: acquisitions, public markets, staged liquidity, employee and alternative ownership, and unsettled crypto structures. Click any element for what it is, when it fits, how it runs, and where to read further. Written for founders, investors, and boards.

Educational reference only. Not legal, tax, or investment advice. Default jurisdiction is US/Delaware; non-US equivalents are flagged. Points that require qualified counsel are marked with a counsel tag.

35 exit pathways · 5 families

  • Sale and acquisition
  • Public markets
  • Staged liquidity
  • Ownership and alternative
  • Unsettled crypto

Hover for detail · click for the full pathway

Sale and acquisition

01 St Strategic sale 6-12 mo
02 Pe PE buyout 4-9 mo
03 Aq Acquihire 2-6 mo
04 As Asset vs stock varies
05 Rm Reverse merger 3-6 mo
06 Ru Roll-up 3-6 mo
07 Dx Distressed 1-6 mo

Public markets

08 Ip IPO 12-24 mo
09 Dl Direct listing 6-12 mo
10 Sp SPAC 3-6 mo
11 Ra Reg A+ 3-9 mo
12 Fx Foreign listing 6-12 mo

Staged liquidity

13 Fs Founder secondary 1-3 mo
14 To Tender offer 2-4 mo
15 Sm Secondary mkts Weeks-3 mo
16 Cv SPV / continuation 1-4 mo
17 Dr Dividend recap 1-3 mo
18 Lp Liquidity program recurring
19 Sx Structured exit Agreed at investment

Ownership and alternative

20 Es ESOP 4-9 mo
21 Eo Purpose trust 3-9 mo
22 Co Co-op 6-12 mo
23 Mb MBO / LBO 4-9 mo
24 Fa Succession 6-24 mo
25 Sb Step-back 3-6 mo
26 Zb Dividends ongoing
27 Li IP sale 3-9 mo
28 So Carve-out 6-12 mo
29 Wd Wind-down 1-4 mo
30 Cp Product sale 1-4 mo
31 Sf Search fund 1-4 mo
32 Mk Marketplace 60-90 days

Unsettled crypto

Unsettled series · counsel required
33 Tk Token launch varies
34 Da DAO varies
35 Fd Foundation varies
What actually happens · 2018 US cohort · n = 3,067 · Carta via Insight Partners
2018 US cohort outcomes: 49% shut down, ~45.8% still private, 5% acquired, 0.2% listed

0.2% listed · 4 cos.

Plan for an acquisition or an orderly wind-down before planning for an IPO.

Cite as: Shrestha, S. (2026) "Startup exit strategies."
Intelligence, Capital desk, entry 01. Published 24 July 2026.
https://intelligence.sushantshrestha.com/capital/exits/01-startup-exit-strategies.html