Forge Global closes $85m round, as it rebrands from Equidate

Online marketplace for pre-IPO securities Forge Global, has rebranded to Equidate alongside the close of its $85m Series B.

The capital injection was led Munich Re, with Peter Thiel and Tim Draper among the other inverstors to contribute to the round.

Through the new funds and brand, Forge is looking to expand the range of services it offers to companies, investors and strategic partners, to help increase the global access to private markets.

Founded in 2014, Forge Global aims to improve the liquidity of the private markets for institutions, companies, shareholders and investors. The platform enables shareholders and investors in privately held companies to liquidate a portion of their shares through the mobile app.

Institutional and private investors can leverage the Forge Global platform to access companies like Spotify and Lyft, before they hold their IPO.

This investment has come after a strong period of growth for the company, which has hired a number of c-suite employees and surpassed $1bn in transactions.

Tim Draper said, “Startups are staying private longer and raising more money than ever. Employees want liquidity for the blood, sweat and tears they’ve invested in their companies and companies want to give it to them.

“Meanwhile, investors want access to the growth and value these companies are creating. It’s the perfect storm for Forge to come in and provide investors with access, employees with liquidity and companies with a way to make this happen. Everybody wins.”

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