Our Vision
Unlocking private market liquidity
for people and companies to thrive.
Three commitments that shape every piece of infrastructure we build.
Building Infrastructure
Start-up agility paired with institutional integrity — deploying the technology that makes the private market more liquid, investible, and accessible.
We build investment platform, settlement, onboarding, and workstation infrastructure in-house. Our patented private company share settlement process was the first of its kind in the industry, recognized by a U.S. patent for private company securities clearing. We partner with banks, brokers, and law firms to scale institutional private market activity — not compete with them.

Sourcing Reliable Data
A high-information platform with actionable insights, reliable analytics, and the market intelligence private market participants can act on.
Tape D — our daily pricing and valuation signal product — sits at the heart of the platform, informing everything from order pricing to Level-2 fair value reporting under ASC 820 / IFRS 13. Our data team mines capital flows, trade-level transactions, financings, and valuation inputs across thousands of private companies to turn secondary market activity into repeatable, analytical intelligence.

Establishing Governance
Identify industry-leading secondary guidance, in-depth market intelligence, and professionals paving the path for better client outcomes.
As a FINRA/SIPC member broker-dealer with SEC-registered affiliates and SOC 2 Type II certification, we hold ourselves to institutional standards on compliance, custody, and disclosure. Our team engages with regulators, issuers, and industry bodies to shape the rules of the private secondary market — so every participant operates on a clear, enforceable standard.

Our Investors












What We Stand For
Guiding business principles & core values.
The beliefs that shape how we build the platform, treat our clients, and run our team.
01
Customer Obsessed
Every product decision starts with a real user — a private company CFO, an employee shareholder, a fund PM. We build for them, not for ourselves.
02
Thought Leaders & Educators
We publish market research, open letters, and technical guidance because a better-informed market is a better-functioning one.
03
Commitment to Community
We engage with regulators, issuers, law firms, and industry bodies to raise the standard of the entire private secondary market.
04
Agile & Collaborative Team
Start-up speed with institutional discipline. Small teams, fast decisions, and rigorous quality on everything that reaches production.
05
Leaders With Integrity & Market Expertise
Our leadership has built private market infrastructure, run regulated broker-dealers, and navigated capital markets cycles across public and private.
06
Tech-Forward & Data-Driven
Patented settlement, in-house data science, and a modern engineering stack — not a retrofitted bank back-office.
Our Story
A longstanding commitment
to the private markets.
Nasdaq Private Market has been an established, critical provider of technology solutions for the private markets since 2013. What began as a response to the JOBS Act is now the institutional backbone of private company liquidity and access.

2013
Founded in response to the JOBS Act
Nasdaq Private Market is established to help solve private company liquidity in direct response to the Jumpstart Our Business Startups Act.

2015
Acquired SecondMarket
Acquires SecondMarket — a bespoke private market platform and long-time innovator behind secondary transactions — cementing the marketplace’s position as category leader.

2021
Spun out from Nasdaq, Inc.
Spins out from Nasdaq with investments from a bank consortium and Nasdaq to build a dedicated private company stock marketplace at institutional scale.

2023
Acquired premier private company data products
Expands the data platform with pricing, valuation, and transaction intelligence — the foundation of what is now NPM Data and Intelligence.

2023
Launched Transfer & Settlement technology
Rolls out end-to-end workflow and dashboards for all private share transfer activity — later awarded a U.S. patent for private company securities clearing and settlement.

2024
$62.4M Series B
Closes Series B financing led by Nasdaq, with new investments from BNP Paribas, DRW Venture Capital, UBS, and Wells Fargo — deepening the institutional investor base behind the platform.
Leadership
Meet the team
Tom Callahan
Chief Executive Officer
Profile
Tom Callahan is the Chief Executive Officer and Manager of the board of managers of Nasdaq Private Market. Tom has 30 years of leadership experience within the financial services industry. Prior to Nasdaq Private Market, he served as the Head of Global Cash Management and a member of the Global Operating Committee at BlackRock, where he spent nearly nine years. In his role with BlackRock, Tom led the transformation of the firm’s global cash management platform, a $700 billion business focused on delivering liquidity and balance sheet solutions to many of the world’s largest public and private corporations. During his tenure, assets under management in his division grew by over $500 billion.
Previously, Tom served as the Chief Executive Officer of NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext, where he spent five years. Earlier in his career, he spent nearly 15 years at Merrill Lynch, where he held various leadership positions in both New York and London. Tom earned his undergraduate degree from Harvard University.
James Brooks
Chief Strategy Officer
Profile
James Brooks is the Chief Strategy Officer at Nasdaq Private Market. He has more than 25 years of experience growing businesses and developing commercial strategies to bring innovative, disruptive products to market. Throughout his career, James has partnered closely with customers and cross-functional teams—spanning technology, operations, compliance, and product—to design and continuously enhance market-leading solutions. Prior to joining NPM, he served as Chief Commercial Officer and Chief Product Officer at Forge Global, where he focused on product innovation, transparency, and removing barriers to investing in private companies. Before that, James was Chief Operating Officer of ICE Data Services, where he led efforts to expand recurring revenue by delivering pricing, analytics, index, and reference data solutions supporting investment, trading, and risk management across global asset classes. Earlier in his career, he held senior leadership roles at NYSE/ICE, overseeing multiple businesses including the NYSE and ICE futures data businesses, the reference data business, and the ICE Global Network. James also served as Head of Equities at The NASDAQ Stock Market and began his career at the Law and Economics Consulting Group. He earned his B.A. in Economics from the University of Virginia.
Mike Buono
Managing Director and Co-Head of Private Shares Trading
Profile
Mike Buono is a Managing Director and Co-Head of Private Shares trading at Nasdaq Private Market. Prior to NPM, Mike spent 5+ years at EquityZen where he helped build the institutional trading desk. Mike started his career as an analyst at UBS and holds a BS in Finance from The Pennsylvania State University.
Rotem David
Chief Product and Technology Officer
Profile
Rotem David is the Chief Product and Technology Officer at Nasdaq Private Market (NPM). Rotem leads NPM’s product and technology divisions worldwide. He is responsible for the company’s product strategy and implementation, overseeing technology infrastructure, engineering, information security and development teams. He has spent more than 10 years building out NPM’s portfolio of products which offer liquidity across various transaction types. Prior to NPM, Rotem held lead engineering roles at SecondMarket and Nasdaq, Inc.
Earlier in his career, Rotem served in the Israeli Defense Forces as a Commander in a Search and Rescue unit. He earned his BS in computer science from Columbia University.




