I keep hearing that, but why can't you sell it? Surely brokering such sales (to accredited investors) is a profitable opportunity, so someone should be doing t

I keep hearing that, but why can't you sell it? Surely brokering such sales (to accredited investors) is a profitable opportunity, so someone should be doing that. Charging a few % sounds like a reasonable fee for brokering rather illiquid securities. Not just in silicon valley which mints huge quantities of fresh private equity. At least large VCs should see it as an opportunity to increase holdings at a discount as employees inevitably rotate in the company.