Knowledge Center

A curated list of quality resources for secondary investors, shareholders, and company representatives.

The EquityZen Blog

Why Do Employees Need Pre-IPO Liquidity?

Why Do Employees Need Pre-IPO Liquidity?

As companies stay private longer than ever, the need for pre-IPO liquidity has become increasingly important for early shareholders, especially early employees. 

Guide to Investing in Pre-IPO Secondaries for Advisors

Guide to Investing in Pre-IPO Secondaries for Advisors

Independent advisors see access to pre-IPO investing as a key way to differentiate themselves and provide value to their clients, but how should advisors think about pre-IPO investing in the context of their client’s overall portfolio?

SEC Expands the Definition of an Accredited Investor

SEC Expands the Definition of an Accredited Investor

The SEC expanded the definition of an Accredited Investor, effective December 8, 2020. 

EquityZen is excited to welcome newly-qualified accredited investors to the private markets. At EquityZen, we’re proud to have supported the expansion of the Accredited Investor definition, along with many others, by submitting a response to SEC’s call for comment - you can read our open letter here. 

SPACs: What Advisors and IPO Investors Should Know

SPACs: What Advisors and IPO Investors Should Know

SPACs have gone mainstream in 2020 with companies like DraftKings, Nikola and Fisker choosing this route as a means of going public. One-hundred sixty five companies IPO’d on US exchanges in the third quarter, a 126% increase versus Q2. In this article, we will take a closer look at SPACs, what’s driving their growth and important considerations for investors. 

Guide to Investing in Pre-IPO Secondaries

Guide to Investing in Pre-IPO Secondaries

This guide will provide an overview of the asset class and a framework for investors to evaluate potential investment opportunities.

A Virtual Happy Thanksgiving From The EquityZen Team

A Virtual Happy Thanksgiving From The EquityZen Team

After a year unlike any other, EquityZen gives thanks to its clients, its partners, and its team for helping us navigate and thrive on this rollercoaster! 

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Research Reports

2021 VC-Backed IPO Shortlist

2021 VC-Backed IPO Shortlist

After an uncertain and slow start to the year for IPOs, the back half of 2020 made up for lost time. As of December 3, 2020, 415 IPOs raised a record $146B. The global pandemic has changed the way people live and work, driving mass adoption of new technologies. After reviewing 150 U.S.-headquartered unicorns, EquityZen believes the 2021 IPO market will likely follow the strength seen in 2020 with many Unicorns going public and raising significant funding.
2020 VC-Backed IPO Shortlist

2020 VC-Backed IPO Shortlist

2019 was a mixed bag for tech IPOs. While results of some offerings showed the pent-up demand for the SaaS and IaaS industries, others demonstrated the skepticism towards money losing business models. Beyond Meat, 10x Genomics and Zoom were among the success stories, while SmileDirectClub, Uber and WeWork faltered. The latter paused the IPO market in the second half of 2019, and despite see-sawing marketing conditions, companies are eyeing the public waters, learning from 2019 missteps. Key market risks still lurk though, as fears of a global recession and the U.S. presidential election cycle weigh on companies’ willingness to go public. In this article, we’ve outlined company-specific factors we believe will affect IPOs and direct listings and the candidates seeking to go public in the near term.
Some Thoughts Regarding ForeScout's S-1

Some Thoughts Regarding ForeScout's S-1

ForeScout filed an S-1 earlier this week, marking its first step towards completing an IPO. ForeScout expects to list on the NASDAQ under the ticker “FSCT”. The S-1 was (long) expected as the company had reportedly filed confidentially early this year.
Spotify: Blurring the Private and Public Market Lines

Spotify: Blurring the Private and Public Market Lines

With 160 IPOs in 2017, it is rare for a company's initial public offering to get as much coverage as Spotify's already has this past year. In many ways, however, Spotify deserves the attention. For starters, Spotify is a widely used consumer product that continues to exhibit impressive growth against deep-pocketed and experienced competitors (*cough* Apple *cough*). Many Spotify fans and cynics alike will be eyeing their listing and continued results as a public company. Secondly, Spotify's decision not to raise any capital and forgo a traditional Initial Public Offering in lieu of an Initial Public Listing has already made them stand out in the tech world. While Spotify's trailblazing attitude allows them to eschew Wall Street banks and save unnecessary dilution from a traditional IPO, it comes with its own bevy of risks, such as price discovery and liquidity once the shares are publicly traded.
White Paper: A Guide To Secondary Transactions

White Paper: A Guide To Secondary Transactions

Written by Secondary Fund Saints Capital: Alternative Paths to Liquidity in Private Companies
EquityZen's Guide to Investing in Pre-IPO Tech Companies

EquityZen's Guide to Investing in Pre-IPO Tech Companies

Are you new to secondary investing in private companies? It can be a daunting but ultimately rewarding asset class to invest in. Here are some topics to consider when investing.
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Investor Newsletter

Today's Live Offerings

We’re excited to announce the release of our new iOS mobile app. Browse listings and manage investments on the go (or on the couch). Get real time launch notifications and deal updates directly to your phone via push notifications. Click the button below to download the app from the Apple App Store.

Investment Strategies for Coronavirus

After a decadelong bull-run, coronavirus has ushered in a new economic reality. The National Bureau of Economic Research (NBER) recently announced that the U.S. economy entered a recession . NBER recorded a peak in economic activity in February 2020 and a sharp contraction in March that led to significant increases in unemployment. The U.S. Bureau of Labor Statistics disclosed that the unemployment rate reached 14.

The Coronavirus Investment Environment

Coronavirus (COVID-19) has ushered in a time of uncertainty. The novel virus has upended many people’s lives, as the world stays home to slow its spread. COVID-19 has caused workers to lose their jobs, small and large businesses to close their doors, and a capital flight to safe havens. The economic fallout increases as the world reckons with the severity of the virus.

The Effects of Coronavirus on Venture Capital Firms and Startups

With the flip of a switch, the stock market swiftly reacted to the worsening coronavirus situation. Most notably, the U.S. stock market entered bear territory – defined as a 20% or more fall in prices from the investment’s 52-week high – on March 12, 2020, ending a decade-long bull run. The market has since drastically fluctuated, almost daily, as the world reacts to new information on the spread of coronavirus. The clearest indication of this unrest can be seen in the VIX, a measure of the market’s expectation of volatility on the S&P 500, which has increased to the same levels as the 2008 Great Recession, shown below.

Time Horizon is the Investor's Best Friend. Here's Why.

Sometimes, it’s not how much you invest, or even what you invest in, but rather when you buy and sell that matters most of all. That’s why one of the most important aspects of investing is determining an accurate time or investment horizon for every asset you acquire. It’s simple: An investment horizon is the length of time an investor plans to hold an asset. It starts with the date they buy it and extends to whenever they’re planning to sell it off to capitalize on their investment.

Inside the 'Liquidity Premium' and How it Benefits Investors

The liquidity premium (also known as the “illiquidity premium”) is a term used to describe the enhanced return that is expected for investing in illiquid assets. Put simply, if you invest in something that isn’t easy to get your money out of, you can expect a greater return on that investment due to the inconvenience. Assets are considered to be “illiquid” if they cannot readily be sold for cash without a significant loss in value. Examples include hedge funds, venture capital, private equity, and real estate.
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