The growth in private markets in recent years has been dramatic, led by an increase in the number of unlisted companies that are valued at over $1 billion – the so-called unicorns. There were 963 unicorns worldwide in January 2022, with a value of $3.14 trillion, according to a list maintained by research firm CB Insights.
This creates a substantial revenue opportunity for firms that can tap into the market for secondary trading of shares in unlisted private companies.
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