NASDAQ Private Market and Scenic Advisement in Partnership to Support End-to-End Private Placement Services to Private Companies
NEW YORK and SAN FRANCISCO, Oct. 13, 2016 -- The NASDAQ Private Market, LLC and Scenic Advisement today announced an initiative to support end-to-end private placement and fulfillment services to private companies seeking access to growth capital from specialized investors.
The partnership leverages core competencies from two of the industry’s leading platforms focused on the unique liquidity needs of private companies. NASDAQ Private Market, the leading technology provider for company controlled liquidity programs, in partnership with Scenic Advisement, will be able to facilitate a deeper level of support to private companies as they evaluate their capital needs.
Industry data shows that the average length of time before a private company pursues an initial public offering has doubled to nearly 10 years over the last decade. The partnership with Scenic Advisement addresses a growing need among NASDAQ Private Market clients: the facilitation of company-controlled liquidity for early investors and employees while effectively managing and maintaining control and quality of the investor base, as well as private company capital raises to a high quality institutional investor base.
“More than 100 private companies have utilized the NASDAQ Private Market platform since our launch in 2014 to manage their equity and facilitate company-controlled shareholder liquidity on their terms with strong levels of compliance,” said Nelson Griggs, Executive Vice President, Nasdaq and board manager, NASDAQ Private Market. “As NASDAQ Private Market’s brand has grown, private companies have sought our assistance in capital introduction. The partnership with Scenic Advisement will help fulfill our broader objective to support private companies as they grow and scale their businesses.”
“We purpose-built Scenic Advisement to serve the needs of leading late-stage private companies, their employees and investors,” said Michael Sobel, a co-founder and managing director at Scenic Advisement. “Our private and public market experience, augmented by this partnership with NASDAQ Private Market, reaffirms that Scenic is well positioned to assist the world's top private companies manage their liquidity in secondary markets.”
About Scenic Advisement
Scenic Advisement is the first purpose-built investment bank dedicated to handling secondary stock transactions for employees, company founders and investors. The firm covers every aspect of these transactions. It was launched in 2013 by an experienced team of entrepreneurs connected to institutional pools of capital through experiences at BlackRock, Goldman Sachs, Lehman Brothers, Morgan Stanley, New York Stock Exchange and Founders Fund. The team’s collective experience touches finance, technology, public and private markets, legal, investing, banking, and capital raising for primary and secondary offerings. Scenic Advisement was formerly known as Battery East.
About NASDAQ Private Market
The NASDAQ Private Market, LLC is the premier equity services provider to private companies. Our end-to-end solution enables private companies to digitize, integrate, and control all of their equity-related functions, including cap table management, shareholder liquidity and investor relations. Whether a company seeks to optimize an eventual IPO or remain private permanently, NASDAQ Private Market provides comprehensive technology solutions to meet its needs. The information contained herein is provided for informational and educational purposes only. None of the information provided is an offer or solicitation to buy or sell any securities, or to provide any legal, tax, investment or financial advice. The NASDAQ Private Market, LLC is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner, and does not offer legal advice to any user of the NASDAQ Private Market website. Technology services may be offered by The NASDAQ Private Market, LLC’s subsidiary, SecondMarket Solutions, Inc. Securities-related services are provided by SMTX, LLC, a registered broker-dealer, which is a member FINRA/SIPC and also a wholly-owned subsidiary of The NASDAQ Private Market, LLC. Securities offered through SMTX, LLC are not listed or traded on The NASDAQ Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The NASDAQ Stock Market LLC. To learn more, visit www.npm.com.
Scenic Advisement Tim Hay, Consort Partners (510) 593-0285 email@example.com The NASDAQ Private Market, LLC Stephanie Lowenthal (646) 441-5073 firstname.lastname@example.org Emily Pan (646) 441-5120 email@example.com