“Can a tax-deferred exchange fund give unicorn employees and founders the diversification and liquidity tools previously available only to public-company executives?”
Founded in 2020 as SP Holdings Group, the company rebranded as Collective Liquidity to focus on providing pre-IPO shareholders — unicorn employees, founders, and executives — with tax-deferred equity diversification via an exchange fund structure. Rather than a direct secondary sale, investors contribute private company shares into a pooled fund backed by noted VCs, retaining upside while gaining diversification and liquidity options. Embedded finance manifests primarily through partnering banks that lend against fund interests, enabling near-term cash liquidity without triggering a taxable event. WebBank is publicly listed as a lending partner.
Collective Liquidity discloses WebBank as its banking provider, according to the Embedded Finance Index 2026.
Collective Liquidity does not disclose a bank charter of its own; its banking services are provided through WebBank.
The Embedded Finance Index 2026 maps 3 layers in Collective Liquidity's stack: Banking / BaaS (WebBank); Lending (Bank Loans (secured by Exchange Fund LP interests), LP BuyBacks and Cash Withdrawals); Sponsor bank (WebBank).
Collective Liquidity is founded in 2020 and headquartered in San Luis Obispo, CA (also listed as New York, NY on LinkedIn).
Collective Liquidity has raised $12.0M in total (latest round: Series A2).
Get a read on where your own stack stands against Collective Liquidity and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.