Pre-IPO Investing | The State Of The Secondary Market

In this video, Phil Haslett, Co-Founder and Chief Strategy Officer of EquityZen, explores the intricacies of the secondary markets. He examines the evolving trends from  2021 to 2024. Phil offers a review of  market interest over the past few years and digs into more recent trends –   noting an increased interest in both newer and mature companies, the rising interest in AI companies and emerging fundraising patterns.

Phil also analyzes valuation trends, observing that companies in the private secondary market are trading at higher discounts to their latest funding rounds. Sector-specific valuation strengths are discussed, particularly in the Industrials and Emerging Energy sectors, alongside areas of reduced investor interest, such as Consumer, Lifestyle, and Food & Beverage sectors.

Disclaimer: Not all pre-IPO companies will go public or be acquired, and not all IPOs or acquisitions are or will become successful investments. There are inherent risks in pre-IPO investments, including the risk of loss of the entire investment, illiquidity, and fluctuations in value and returns. Investors must be able to afford the loss of their entire investment. Any metrics or calculations discussed, including the discount to last valuation and implied valuation, are proprietary work of EquityZen Inc., and accordingly are estimates of company capitalization which have not been verified by the respective company or any other third party. Not investment advice. 

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