Gain exposure to the innovation economy. Invest in private companies or sell private company stock on a regulated secondary market investment platform, backed by Nasdaq.
Gain exposure to the innovation economy. Invest in private companies or sell private company stock on a regulated secondary market investment platform, backed by Nasdaq.
Use of company names and logos does not imply company endorsement or current availability to trade.
In Secondary Market Transactions*
Private Companies Traded*
Onboarded Institutional Investors*
*As of May 2026
Who Nasdaq Private Market Is For
Investors & Sellers.
One compliant marketplace.
Whether you’re investing in the next generation of private companies or looking for liquidity in shares you already own, Nasdaq Private Market runs the full end-to-end process on a single regulated platform.
For Investors
Invest in private company stock before IPO
Access vetted secondary opportunities in venture-backed private companies across AI, space, fintech, defense, robotics, healthcare, and other frontier technologies.
Buy private company stock directly from shareholders or through funds
Match directly with buyers, place standing bids on the market or negotiate terms directly
Embedded pricing data, company research, and market intelligence
Patented share settlement manages approvals and transfers efficiently
For Sellers
Sell private company shares with full support
If you hold vested shares or options in a private company, we help you find qualified buyers and settle the transaction compliantly.
Match directly with accredited institutional and individual buyers
Sellers do not need to be accredited to list vested shares or options
Company approval, transfer documentation, and settlement handled by our patented process
Final trading is coordinated with issuer approval
WAys to Invest
Direct shares, funds, or both
Nasdaq Private Market gives accredited investors more than one route to invest in private company stock. Pick the structure and companies that match your conviction, risk appetite, and reporting needs.
Buy directly from existing shareholders in hundreds of pre-IPO companies across technology, AI, fintech, healthcare, defense, and other high-growth sectors.
Browse the marketplace for current offers to sell private company stock and buy directly from the shareholder.
Professionally managed single-asset investment vehicles with transparent terms, lower minimums, and potential liquidity options after investing.
NPM and third-party funds provide exposure to a private company’s stock through a professionally managed vehicle.
Nasdaq Private Market splits fees equitably between buyers and sellers — keeping costs significantly lower than marketplaces that charge sellers high single-digit percentages.
Fee schedules are published up front inside the platform — you see the cost of the trade before committing.
How Nasdaq Private Market Compares
Purpose-built for secondary
investing in private companies
A side-by-side look at how Nasdaq Private Market stacks up against retail-style marketplaces and fund-only platforms on the things that actually matter in private trading.
Nasdaq Private Market Capabilities
How private trading
actually works
Buying or selling private shares doesn’t need to be complicated.
Nasdaq Private Market brings the entire process into one clear workflow.
01
A regulated marketplace with active bids and offers across hundreds of private companies. Create watchlists, track pricing, and trade alongside vetted investors and employee shareholders.
A centralized order management system connecting accredited investors and employee shareholders on one regulated secondary market platform. Place bids, manage negotiations, execute trades, and settle private company stock transactions — trades finalized with patented settlement technology and embedded pricing data.
02
Accept, counter, or reject offers from qualified buyers and active sellers. Track active negotiations and manage deal flow in one place.
A centralized dashboard for managing all secondary market trades on the private stock marketplace. View counterparty interest, track negotiation status across multiple transactions, and execute at your negotiated price.
03
Share transfers that may be settled in days, instead of months, with Nasdaq Private Market’s patented transfer-and-settlement process. We pair patented workflow technology with a dedicated account-management team to keep every party — issuer, broker, buyer, seller — in lockstep.
No other secondary marketplace has patented settlement infrastructure. Our proprietary system structures trade data, coordinates company approvals, and manages documentation workflows for every secondary market transaction in private company stock.
04
Investing in publicly traded stock is very different than private company shares or funds. PAM, our private market agent, simplifies the process, guiding you every step of the way.
Access investments in private companies or sell your pre-IPO shares with the help of PAM, our private market agent. PAM walks you through the discovery, analysis and transaction phases of the process for buying and selling private company stock.
05
Integrated access to NPM Price — our proprietary daily pricing and valuation signal — so you can trade with real data, not just the last round headline valuation.
Every SecondMarket trading seat includes access to NPM Price-derived valuation signals: bid/ask history, indicative share-price paths, latest-round vs. secondary-market spread, and ASC 820 / IFRS 13 Level 2 inputs for fund reporting.
Comparables, sector heatmaps, and peer-group pricing are one click away from the orderbook — so you can size a trade against the actual market, not just a stale lead-round mark.
06
Configurable workstations for institutional desks — watchlists, multi-user permissions, execution dashboards, and the right views for traders, PMs, and compliance.
For institutional users, SecondMarket offers configurable workstations: trading desks can build watchlists, customise dashboards, run multi-user permissions, and surface the specific data cuts their compliance team requires.
BANKS & BROKERS
A turnkey private market platform for wealth managers, banks and broker-dealers to onboard clients, access supply, execute trades, manage negotiations, and settle shares through one compliant institutional workstation.
FOR INVESTORS
Sign up and complete accredited investor verification. Our team can guide you through onboarding and eligibility requirements.
Explore marketplace listings, pricing trends, and private company data across sectors including technology, AI, fintech, healthcare, and more.
Submit bids directly through the marketplace order book or negotiate with sellers through the platform.
We manage documentation, approvals, and settlement so shares are delivered through a secure regulated process.
FOR SELLERS
We help you understand whether your vested shares, options or other holdings may be eligible to sell.
Create a listing on the marketplace and gain access to qualified buyers seeking private company stock.
Review bids or negotiate pricing and terms with support from our market specialists throughout the process.
We coordinate company approvals, transfer documentation, settlement, and payment for a smoother close.
Questions?
We have answers
Nasdaq Private Market is a secondary market trading platform operated by Nasdaq Private Market. It provides an institutional-grade private stock marketplace for buying and selling private company stock. Nasdaq Private Market connects investors, employee shareholders, banks, and brokers on a single, regulated secondary marketplace for pre-IPO shares.
Accredited investors can sign up to Nasdaq Private Market, complete onboarding, and begin browsing available private stock on the secondary marketplace. Investors can match or negotiate directly with sellers, place standing bids, and execute trades through our secondary market platform. Nasdaq Private Market also offers NPM Funds for investors seeking managed exposure to private company stock. Market specialists are available to help guide execution.
Yes. Nasdaq Private Market is legitimate and operates through NPM Securities, LLC — a FINRA/SIPC member broker-dealer registered with the SEC. The platform is SOC 2 certified and has facilitated billions of dollars in secondary market transactions for private company stock.
Nasdaq Private Market uses an equitable fee model where costs may be split between buyers and sellers. Contact our team for specifics based on your transaction type.
Typically minimum trade size on Nasdaq Private Market is $25,000. Minimum trade sizes may vary by company, transaction type, and investment structure. Direct share purchases and NPM Fund investments may have different minimums.
Nasdaq Private Market’s secondary marketplace features pre-IPO shares in a large variety of private companies, including unicorns in technology, AI, robotics, fintech, healthcare, and other high-growth sectors as both direct investments and NPM managed funds.
Nasdaq Private Market is the only secondary market trading platform that combines a regulated trading venue, patented settlement technology, institutional bank and broker infrastructure, embedded private market data, and a global network of qualified participants. Nasdaq Private Market’s private stock marketplace enables both direct secondary trading and fund-based investments in private company shares. Fees are equitable and transparent, split between buyer and seller. Transactions are always approved by the issuer.
Buyers on Nasdaq Private Market’s must be accredited investors as defined by the SEC. However, sellers do not need to be accredited. Employee shareholders can list and sell their private company shares on Nasdaq Private Market without meeting accreditation requirements. Our onboarding team verifies accreditation for buyers as part of account setup.
Liquidity for private company stock on the secondary market varies by company. Shares in highly valued pre-IPO companies, particularly unicorns with strong investor demand, tend to have more active trading. It’s important to understand that trades in private shares require company approval and depend on the company’s policies. The Nasdaq Private Market investing platform provides transparency into active bids and offers, to help you gauge liquidity for specific private stocks.
On Nasdaq Private Market’s secondary marketplace, direct share purchases mean you hold the actual stock in the company. NPM Funds provide an alternative: professionally managed investment vehicles that offer exposure to a private stock, with specific minimum investment values, and simplified administration. Both options come with transparent terms and fee structures.
Investing in private company shares on the secondary market carries real risks that are different from public market investing. Private stock is considered illiquid, there is no guarantee you’ll be able to sell your shares when you want or at the price you want. Private companies don’t have the same disclosure requirements as public companies, so the amount of information available for your analysis may be limited. Valuations on the secondary market can fluctuate significantly and may not reflect the company’s actual financial condition. Some private companies may never IPO or experience a liquidity event, and there is a real possibility of losing your entire investment. Nasdaq Private Market provides data to help investors evaluate secondary market pricing and company fundamentals, but all investment decisions should be made in consultation with your own financial, tax, and legal advisors.
Secondary market pricing for private company shares is driven by supply and demand among qualified buyers and sellers on the private stock marketplace. Private stock prices on the secondary market are established through negotiations between counterparties or through matched orders on Nasdaq Private Market’s order book. The price you see may differ from the company’s most recent 409A valuation or its last funding round price, sometimes higher, sometimes lower, depending on market conditions. Nasdaq Private Market’s pricing data provides historical secondary market trade prices, active bid and ask levels, and pricing analytics to help you assess a reasonable estimate of current value. Past pricing is not a guarantee of future values.
Yes. If you’ve purchased private company stock on Nasdaq Private Market’s secondary marketplace, you can list those shares for resale, subject to the company’s transfer policies and any applicable holding period restrictions. The platform supports both initial sales from employee shareholders and resale from investors who previously acquired private shares. Liquidity varies by company, and there’s no guarantee a buyer will be available at your preferred price or timeline.
The timeline for secondary market transactions in private company stock depends on several factors including company approval processes, documentation requirements, and share structure complexity. On average, a trade on Nasdaq Private Market’s private stock marketplace takes 30 to 60 days from the time buyer and seller agree on terms to final settlement. Some transactions close faster, while others (particularly those that require board approval or involve complex equity structures) may take longer. Nasdaq Private Market’s patented settlement technology and operations team work to compress timelines and keep all parties informed throughout the process.
No. Nasdaq Private Market does not provide tax, legal, investment, or accounting advice. Secondary market transactions in private company stock can have significant tax implications — particularly for employee shareholders selling employee equity, where factors like stock option type (ISO vs. NSO), holding period, exercise price, and cost basis all affect tax liability. We strongly recommend consulting with your own qualified tax, legal, and financial advisors before buying or selling private company shares on the secondary market. Nasdaq Private Market provides transaction documentation that may be helpful for tax reporting, and our Wealth Connect resources can help connect you with qualified advisors.
