NEW YORK - SecondMarket Inc., a leading marketer of illiquid assets including bankruptcy claims, mortgage-backed securities and other assets, announced plans Tuesday to work with the National Venture Capital Association to support venture-backed companies and their investors.

New York-based SecondMarket said it signed an agreement with NVCA, a trade group, to provide liquidity for private companies and their shareholders and expand opportunities for investors to exit startups supported by venture capital.

A recession can make it more difficult for startup companies to attract needed venture capital. Recessions also make it more difficult for young companies to turn the corner to profitability, allowing investors to exit the company and move to other opportunities.

"In the current economic environment, when unemployment remains high, it is critically important to support venture-backed companies, which promote outsized job growth and economic development," said SecondMarket CEO Barry E. Silbert.

The two groups will collaborate on other efforts, including conferences and webinars, the development of new executive suite programs for start-up companies, and sharing market intelligence and trade information.

SecondMarket will provide a number of services at discounted rates to NVCA members, including the use of the SecondMarket private company program. The program provides companies with interim liquidity options to manage and control the secondary market of their own shares.

SecondMarket also will offer preferred commission rates on completed transactions.

In addition to private company stock, SecondMarket is the leading secondary market for numerous other assets, including limited partnership interests, auction-rate securities, bankruptcy claims, residential and commercial mortgage-backed securities, collateralized debt obligations, warrants/restricted stock in public companies and whole loans.

In total, over $25 billion in illiquid assets are available for sale on SecondMarket.