Forge Global, a multinational private securities marketplace, has revealed that it has acquired the Financial Industry Regulatory Authority’s (FINRA) approval to offer services as a single broker dealer with SharesPost after a merger last year.
Total investments secured to date, by Forge Global, have now surpassed $250 million with this most recent round including existing investor Deutsche Börse and new investors Temasek, Wells Fargo Strategic Capital, LUN Partners Group, True Global Ventures and several others.
Since its launch, Forge has managed to clear over $9 billion in transactions in almost 400 privately-held firms.
In the months since its SharesPost acquisition, the firm reported (what it claims to be) three straight record-breaking quarters including Q1 2021 when Forge Global settled 1400 transactions valued at over $730 million.
Forge plans to to use the additional capital to further expand its business and product offerings in the United States and other markets as well.
Jane Atherton, MD, Investment at Temasek International and Paul Hilgers, MD at Deutsche Börse’s cash market division, will be taking a seat on Forge’s board of directors.
Forge Global Chief Executive Kelly Rodriques remarked:
“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.”
Christoph Hansmeyer, Head of Group Strategy & M&A at Deutsche Börse, remarked:
“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.”