XYZ Capital is a private equity firm that recently invested in a mid-sized technology company, Tech Innovations Inc. The firm has been considering its exit strategies to maximize returns for its investors. Their options include an initial public offering (IPO), a strategic sale to a larger competitor, and a secondary buyout by another private equity firm. Each of these strategies presents unique advantages and challenges.

Considering the characteristics of these exit strategies, which method is generally considered to provide the highest value at exit?