Nasdaq Private Market, a NYC- and San Francisco, CA-based provider of liquidity solutions to private companies, their employees, and investors, raised $62.4M in Series B funding.
The round was led by Nasdaq with participation from current investors including Allen & Company, Citi, and Goldman Sachs. New investors included BNP Paribas, DRW Venture Capital, UBS, and Wells Fargo.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Tom Callahan, Nasdaq Private Market provides liquidity solutions for private companies and their employees and investors throughout each stage of the pre-IPO lifecycle. In 2013, it was founded within Nasdaq, Inc. Its Company Solutions business supports private companies using proprietary technology to facilitate tenders, auctions, and pre-direct listing programs. Its SecondMarket™ electronic trading marketplace is bringing transparency and efficiency to the block trading of private shares with a model fully aligned with the interests of private companies. Its patent-pending Transfer and Settlement technology streamlines the complex, burdensome process of post-match workflows for companies and trading counterparties.
Commenting on the news, Tom Callahan said: “We are proud to secure the support of this prestigious group of partners, who share NPM’s passion to transform, modernize, and institutionalize the private markets. For too long, this $3.5 trillion asset class has been defined by inefficiency, illiquidity, and information asymmetry. This financing enables us to continue to build the critical infrastructure required to accelerate the evolution of the private markets into the modern age of efficient, transparent, and regulated electronic marketplaces.”
FinSMEs
08/02/2024