Nasdaq Private Market (NPM) has successfully secured $62.6 million in its Series B funding round, attracting investment from several prominent banks.
The funding round was led by Nasdaq, with participation from existing investors such as Allen & Company, Citi, and Goldman Sachs. New entrants in this round include BNP Paribas, DRW Venture Capital, UBS, and Wells Fargo.
Since its separation from Nasdaq in 2021, NPM has functioned independently through an industry-backed consortium aimed at enhancing the accessibility of secondary liquidity in private shares. NPM offers a comprehensive suite of products, including trading, settlement, and data platforms, and has facilitated over $50 billion in transaction value across 650 company-sponsored liquidity programs and block trades.
Kim Trautmann, partner and head of DRW VC, remarked, “Nasdaq Private Market provides liquidity and data for companies and investors that is in high demand but historically has been difficult to source and validate. The platform’s ability to offer both in-depth insights on individual companies and a comprehensive visual overview of market data across portfolios makes it a compelling end-to-end solution. This will be especially advantageous as we continue to see the maturation of the secondary market for private shares.”