Forge Global, a global private securities marketplace, announced that it has received Financial Industry Regulatory Authority’s (FINRA) approval to operate as a single broker dealer with SharesPost following a merger in 2020, and that it closed an oversubscribed round of more than $150 million in new funding.
Total funding raised to date exceeds $250 million with the latest round including existing investor Deutsche Börse and Forge’s new investors Temasek, Wells Fargo Strategic Capital, LUN Partners Group, True Global Ventures and others.
Since inception, Forge has completed more than $9 billion in transactions in nearly 400 private companies.
In the months since its acquisition of SharesPost, the company tallied three consecutive record-breaking quarters including in Q1 2021 when Forge completed 1400 transactions totaling more than $730 million.
Forge intends to use the increased funding to continue to expand service offerings in the US and beyond.
Meanwhile, Jane Atherton, Managing Director, Investment at Temasek International and Paul Hilgers, Managing Director of Deutsche Börse’s cash market business, will join Forge’s board.
“With the momentum from the SharesPost acquisition and the support and backing of strategic investors including private market investing pioneer True Global Ventures, which first invested in SharesPost in 2010, we are in an excellent position to continue to build world-class solutions that bring data, technology and liquidity at scale to the private markets.”
said Kelly Rodriques CEO of Forge.
“The importance of private markets is growing – for companies and investors alike.
Investing in Forge pays testament to our commitment to help companies access liquidity both publicly and privately, and allows global investors to participate in the wealth created in both the public and private markets.”
said Christoph Hansmeyer, Head of Group Strategy & M&A at Deutsche Börse.
Featured image credit: Edtide from Unsplash
