Fintech broker Clear Street offers investors pre-IPO access to $188 billion AI giant Databricks
Fintech brokerage Clear Street is launching a private markets platform, beginning with Databricks stakes, to give investors more access to late-stage startups.
Fintech startup Clear Street is unveiling a new platform to give investors early access to private companies before they go public, according to CNBC. The company, which recently paused its own IPO plans, aims to democratize high-growth tech investments by letting accredited investors buy stakes in late-stage private firms. The platform will initially focus on AI software giant Databricks, valued at $188 billion this month.
CEO Uri Cohen said Clear Street will offer as many as 30 startups on its platform by year-end, mostly tech firms with valuations ranging from $5 billion to $20 billion and close to an IPO. To support the initiative, Clear Street is launching dedicated private company equity research headed by analyst Owen Lau. The firm, valued at nearly $12 billion in a private funding round earlier this year, is cash-flow positive and has bolstered its liquidity with a $400 million investment-grade bond offering.
Despite not being directly involved, Databricks remains the shareholder of record for the special purpose vehicle (SPV) holding its shares, according to Clear Street.
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