Nasdaq Private Market

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Nasdaq Private Market LLC
Founded 2013
Headquarters New York
Key People Eric Folkemer, President
Website https://www.nasdaq.com/solutions/nasdaq-private-market

Nasdaq Private Market is a a trading platform for shares in companies that haven't yet gone public.[1] [2] It provides technology and capital market support for these private companies. In 2020, Nasdaq Private Market facilitated 90 liquidity programs for private companies, with a total program value of $4.5 billion, according to the company’s annual report.[3]

History[edit]

Nasdaq Private Market was formed in 2013 to offer companies alternative liquidity solutions while remaining private.

In October 2015 Nasdaq agreed to buy SecondMarket Solutions in a joint venture with SharesPost to combine forces to facilitate the exchange of shares for private companies, including DocuSign, Pinterest, Shazam and Tango.[4] Nasdaq took full ownership of the Nasdaq Private Market in 2015.

On July 20, 2021, Nasdaq, SVB Financial Group (“SVB”), Citi, Goldman Sachs, and Morgan Stanley entered into a joint venture that spun off Nasdaq Private Market as a standalone, independent company to establish an institutional-grade, centralized secondary trading venue for issuers, brokers, shareholders and prospective investors of private company stock. Nasdaq Private Market received strategic investments from SVB, Citi, Goldman Sachs, and Morgan Stanley.[5]

According to a Nasdaq press release, the new platform will continue to manage and support private company stock transactions including tender offers, buyside book-building, auctions, investor block trades, company directed windows of liquidity and pre-direct listing continuous trading. It will also provide end-to-end settlement process management and an inter-broker global marketplace through its existing alternative trading system for all customers from employees to institutions to access and transact.

In February of 2024, UBS, Wells Fargo and BNP Paribas and DRW Holdings became investors in Nasdaq Private Market as it announced the closing of a $62.4 million funding round.[6]

Products and Services[edit]

Nasdaq Private Market helps facilitate controlled liquidity programs for pre-IPO companies looking to raise secondary capital for shareholders and investors. It also helps create liquidity in alternative investment funds and a sustainable marketplace for leading private funds.

Key People[edit]

References[edit]