EquityZen, a New York-based fintech firm that operates a secondary marketplace, announced on Tuesday it has formed a partnership, partnered with Hightower as an inaugural member of its Private Liquidity Network (PLN).
According to EquityZen, Hightower’s PLN offers advisers a unique tool to support clients holding private company shares. As a member of the network, EquityZen will notably provide liquidity for pre-IPO shares to Hightower’s clients who may be looking to diversify their portfolios or have cash to finance major life events. While sharing details about the partnership and platform, Justin Winters, Managing Director at Hightower’s Treasury Partners, stated:
“Our ability to facilitate liquidity within the context of an overall financial plan is extremely important to our clients. This relationship will allow us to deliver a liquidity solution to the founders, executives, and private company employees that we work with.”
Phil Haslett, EquityZen Co-Founder and Chief Revenue Officer, went on to add:
“EquityZen is proud to partner with Hightower to provide hundreds of financial advisers and their clients access to the pre-IPO market. The Private Liquidity network is the first of its kind and a real testament to the value of liquidity for early private company shareholders.”
Founded in 2013, EquityZen connects shareholders of private companies with investors seeking alternative investments. The company’s proprietary solution provides access to cash without any effect on its shareholder count or capitalization table. EquityZen’s platform reportedly establishes a secure marketplace, allowing AIs to browse investment opportunities in emerging companies and industries.