US-based private securities marketplace Forge Global has completed a funding round featuring financial exchange operator Deutsche Börse and financial services firm Wells Fargo sized above $150m, it revealed yesterday.
The round included Singaporean state-owned investment firm Temasek, investment group Lun Partners Group and undisclosed others, while Wells Fargo participated through corporate venturing unit Wells Fargo Strategic Capital.
Formerly known as Equidate, Forge runs an online platform that gives private markets investors information on companies and enables them to make connections in order to facilitate deals.
The company closed an all-share acquisition of peer SharesPost in November 2020 and said this week it has now raised $150m since it was founded in 2014.
Reinsurance firm Munich Re, investment bank Financial Technology Partners, private equity boutique Panorama Point Partners, investment fund Operative Capital and private investors Peter Thiel, Tim Draper and Scott Banister had provided $85m in series B funding for Forge as of early 2019.
Forge named Deutsche Börse as an existing investor this week along with financial services firm BNP Paribas, FT Partners and Tim Draper’s Draper Associates vehicle.
Paul Hilgers, managing director of Deutsche Börse’s cash market business, will take a board seat at Forge in connection with the round along with Jane Atherton, managing director of investment for Temasek.
Christoph Hansmeyer, Deutsche Börse’s head of group strategy and M&A, said: “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.”
