Private Market Intelligence + Data
Private Market Reports
All (12)
Q3 2025 Secondary Scene Quarterly Report
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State of the Private Market: 2025
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Private Market Pulse: 2024 Mid Year Review
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2023 State of the Private Market
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2022 State of the Private Market
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2022 Mid-Year Private Market Report
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2021 Annual Private Market Report
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2021 Mid-Year Private Market Report
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First Quarter 2021 Private Market Report
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2020 Private Market Annual Report
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2020 Mid-Year Private Market Report
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2019 Annual Private Market Report
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All (12)
Q3 2025 Secondary Scene Quarterly Report
The top 50 names in our proprietary dataset (TapeD) are up 54% YTD versus 16% for the S&P 500. Here are a few potential drivers:
State of the Private Market: 2025
As we close out the first quarter of 2025, we continue to feel enthusiastic about the prospects for the secondary private share market. While there have been some notable recent VC-backed IPO announcements, the IPO market has not come “roaring back, as some had predicted. The theme of companies remaining private for longer remains intact,...
Private Market Pulse: 2024 Mid Year Review
The Private Market Pulse: 2024 Mid-Year Review offers insights into the industries, company profiles, and investor profiles driving activity in the secondary market.
2023 State of the Private Market
The 2023 State of the Private Market report explores the trends shaping the secondary market. The report provides analysis on which industries, companies, and types of investors were most active in the market, and much more.
2022 State of the Private Market
Last year, hostile macro forces drove an abrupt and violent revaluation of risk across all asset classes, perhaps felt nowhere more acutely than in the market for private, pre-IPO companies. This meant, for significant periods of 2022, that the private markets were, for all intents and purposes, closed. Liquidity virtually evaporated as bid/offers widened dramatically...
2022 Mid-Year Private Market Report
The dynamics in the private secondary market have changed dramatically in the first half of 2022 from the volume and valuation highs seen in 2021. Private companies face many of the same headwinds as their public company peers, dealing with rising interest rates, inflationary pressures, recession concerns, geopolitical developments, tight labor markets, supply chain disruptions,...
2021 Annual Private Market Report
Dramatic demand from both traditional and nontraditional investors is underpinning the transformation of the private market ecosystem. Primary deal cadence and size remain elevated for companies, and secondaries have evolved as an avenue to provide investment allocations to strategic investors not able to engage via primary fundraising rounds. Companies of all stages have benefited from...
2021 Mid-Year Private Market Report
As the first half of 2021 concludes and the economy moves forward from the pandemic, the private market continues to grow. Throughout the year, valuations have reached new heights and deal cadence has reached previously unseen levels, both for NPM and the private market more broadly.
First Quarter 2021 Private Market Report
NPM breaks $30B in total volume transacted and records most programs in a first quarter since its inception. Through quarter close, NPM has surpassed more than 450 company-sponsored liquidity programs.
2020 Private Market Annual Report
Despite the initial uncertainty prompted by the coronavirus pandemic, NPM conducted a record 90 programs in 2020, generating a total program value of $4.5 billion as companies sought to reward and retain employees. Since its inception, NPM has conducted over 450 liquidity programs involving more than 49,000 participants, which has generated more than $29 billion...
