Joncarlo Mark

Joncarlo Mark is the Founder of Upwelling Capital and co-host of Liquid Courage, where he regularly brings research-backed insights on private capital secondaries. He developed proprietary analysis showing that private equity fund values tend to peak around year nine, making a compelling case for proactive LP portfolio management. Mark is a vocal advocate for using secondary market tools—including continuation vehicles, structured solutions, and GP-led transactions—to optimize liquidity and returns across a fund's lifecycle.

• Fund performance peak analysis and optimal secondary market exit timing
• Continuation vehicles as mainstream liquidity tools for GPs and LPs
• Structured secondary solutions including preferred equity and NAV lending
• Venture capital secondaries and valuation dynamics
• Downmarket and mid-market continuation vehicle opportunities
• The evolving role of retail and high-net-worth capital in secondaries
• Lp portfolio management and rebalancing using secondary market tools
• Gp-lp alignment considerations in continuation vehicle transactions

Liquid Courage Episodes / Events

• Why Investors are Clamoring for Evergreen Funds2026-08-11
• Oil and Gas Resurgence is Viewed with Caution by Secondaries Investors2026-07-29
• European Secondaries are Rapidly Evolving2026-07-20
• Data Center Deals are Appearing on the Secondaries Radar2026-06-12
• GP Transitions: When and How to Install a Replacement Fund Manager2026-06-09
• How to Spot a Zombie Fund Before It's Too Late2026-04-29
• Continuation Vehicles are Here for Good, but are LPs Ready to Roll?2026-04-19
• Ares Management's Nate Walton Says Secondaries are 'About Growth not Challenge'2026-03-07
• In the Booming Secondary Market, Structured Solutions are Going Mainstream2026-02-18
• Venture Capital Has an $8 Trillion Liquidity Problem2025-12-17
• Downmarket Continuation Vehicles Have Many Upsides2025-11-25
• Innovations in Liquidity 2027Speaker