The private markets resurgence

Two big moves happened in the pre-IPO secondary space recently that went relatively quiet. Morgan Stanley announced that they acquired EquityZen last week and today it was announced that Charles Schwab acquired Forge Global which was a publicly traded company.

It’s been fun to see some activity in this space as it’s been mostly quiet the last few years since Forge went public. Two of the biggest legacy secondary marketplaces have now been acquired by large financial institutions. Undoubtedly, clients at these firms are demanding access to pre-IPO investments and these acquisitions help them achieve that.

Of course, this is all great news for Secfi as we operate in this space. We are adjacent to EquityZen and Forge, and while some may see us as competitors, we partner with them more than compete. They are both great companies and I’ve enjoyed meeting and partnering with many folks there.

I’m happy for all my friends at EquityZen and Forge, and for everyone building in this space.