Nasdaq Private Market: Helping Fast-Growing VC-Backed Firms Access Liquidity & Stay Private
In this episode, Tom describes how technology is helping to make investing in private firms quicker & easier, with these secondary markets becoming increasingly relevant in light of relatively low M&A/IPO activity.
Just as the Nasdaq was launched in 1971 to automate the market for securities which were not exchange-listed, so in 2013 the Nasdaq Private Market was created to help solve private company liquidity.
Tom discusses how the introduction of the JOBS Act during Obama’s reign accelerated the need to have a market place for buyers and sellers to meet, as well as supporting price discovery & settlement.
Tom explains their growth, rationale, technology and trajectory and why they were spun off in 2021. He discusses their cornerstone investors and how employees of private companies to early VC backers stand to gain from increased transparency and liquidity.
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