Retail investors are significantly shaping the secondary market.
In Q4 2024, platforms like EquityZen reported that 86% of overall deal volume originated from retail participantsan distinctive shift as tools like Forge and EquityZen assure broader access to private shares.But does more access imply more chance, or more threat? Today on Equity, Rebecca Bellan is joined by Jared Carmel of Manhattan Venture Partners to dig into what he calls a once-in-a-generation opportunity in secondaries, why hes not crazy about the increase of retail investors, and how secondaries supply a pressure relief valve that could keep start-ups private well past their start-up years.Listen to the full episode to hear more about: How MVP has worked to institutionalize secondaries out of the Wild West of investing.Why informational asymmetry makes some secondary offerings a raw deal for retail investors.How a sluggish IPO market is catalyzing a robust secondaries market that develops a liquidity flywheel for VC.And Jareds prediction that in a few years, the secondaries feedback loop will delay IPOs up to 20 years.Equity is A Technology NewsRooms flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.Subscribe to us onApple Podcasts, Overcast, Spotify and all the casts.
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