The idea's been around for ages. Fully a quarter of a century ago, I briefly worked at Round1 Networks (Jamie Cohan was founder and CEO). They were creating a "Nasdaq for the private equity marketplace." I don't remember how they intended to index all that, but the idea of needle in a haystack goes back at least that long ago. Way back in 1999, I thought this was a very clever idea.
Very interesting (as much as I could follow).
The idea's been around for ages. Fully a quarter of a century ago, I briefly worked at Round1 Networks (Jamie Cohan was founder and CEO). They were creating a "Nasdaq for the private equity marketplace." I don't remember how they intended to index all that, but the idea of needle in a haystack goes back at least that long ago. Way back in 1999, I thought this was a very clever idea.
Thanks!
Nasdaq is itself back looking at this space with their own private market: https://www.nasdaqprivatemarket.com/
Nasdaq appears to first be looking to create a marketplace for VC-backed secondaries. This is a space that has yet to be conquered (see Carta pulling out of secondaries recently: https://techcrunch.com/2024/08/30/cartas-ill-fated-secondaries-business-finally-found-a-buyer/). Nasdaq's differentiation appears to be for secondaries to be issuer-led & approved.
Maybe they will look at indexing VC as their next product...