PISCES & the Private Markets Shift

​Join unlock VC and Deloitte for a focused peer dialogue on the PISCES regulation and the UK’s newly introduced Private Securities Market (PSM).

​PISCES is a new regulation designed to bring structure and transparency to private-company share trading. But what does this mean for VC funds? How will it shape investors’ approach secondary liquidity? And how should our portfolio companies be thinking about this shift as they prepare for 2026?

​The session will cover:
✨ How the PISCES and PSM frameworks operate
✨ What VC funds need to know ahead of a first PSM auction
✨ Expected market practices and disclosure considerations
✨ How VC funds and their portfolio companies can benefit from auctions
✨ Key points around stamp duty exemptions and employee share schemes relevant to investors

​This is a peer dialogue for VC investors, especially those supporting late-stage companies navigating this shift.

​Speakers:

• ​Georgina Loizou – Senior Manager — Equity Markets Product Development, London Stock Exchange Group

• ​Sophie Winwood– CEO & Co-Founder, unlock VC

• ​Kerrie Willis – Associate Director, Deloitte

​About unlock VC

​​​​unlock VC is an award-winning global platform and community for women in VC. Culminating in a 400+ person annual summit in Paris, unlock VC seeks to develop highly productive networks to increase the success of diverse investors, partly through frequent local and virtual events, supported by a continuous stream of content, resources, and training.

​​​​The 1k+ member unlock VC community includes GPs, LPs, VC, and angel investors. 🚀