Centralized online access to the private capital markets.

The Latest on Private Company Trading Platforms

The private capital markets continue to grow, both in terms of primary and also secondary transactions, including liquidity events for pre-IPO companies.  How will new regulatory changes, including the JOBs Act, impact the development of the market?  What online platforms are emerging that can help bring efficiency to the private placement marketplace and increase liquidity for private shares?  And how does this all impact and improve equity compensation programs for private companies?

 This webcast [transcript below] entitled “Private Company Trading Markets: The Latest” hosted by CorporateCounsel.net brings together industry leaders including Peter Williams, CEO of ACE Portal, Gregg Brogger, President of Nasdaq Private Markets, Annemarie Tierney General Counsel of SecondMarket and Dave Lynn, Partner of Morrison and Foerster to discuss their insights and these topics and provide their views on how the market will shape up. Read More

Growth of Private Company Investing: An ACE Portal Event

An ACE Portal hosted and VC Experts moderated panel on “How Integrating Platforms, Data, and Analytics Will Define Private Company Investing.”

Panelists will include representatives from IPREO, Crowdnetic, ACE, VCE, and TAAPS.

The panel will be followed by a visit to the NYSE Trading floor to see the Closing Bell ring.  After the Closing Bell, there will be a Cocktail Hour with a select audience of family offices, institutional investors, and leading investment banks.

 

 

The Practical Application of General Solicitation

ACE Portal’s user base of registered placement agents has warmed to the idea of general solicitation

Given the fanfare surrounding the passage of the JOBS Act, most industry participants are likely familiar with Title II which created the framework for entrepreneurs and fund managers to publicly advertise that they are fundraising. In short, Title II created a new exemption, termed “506c”, which allows an issuer to advertise that they are raising money / generally solicit investors for their capital raise. This provides issuers (and their placement agents) unprecedented latitude to reach out to investors, as compared to offerings made under “506b”, where marketing is limited to investors with whom an issuer or their agent has a substantive pre-existing relationship. (For a more in depth review on the different offering formats, please refer to our White Paper, “Navigating Change in the Private Capital Markets”).

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AIMkts Interview with ACE Portal

The following interview (by Alicia Purdy) originally appeared on Accredited Investor Markets (AIMkts) and can be found at http://www.accreditedinvestormarkets.com/a-few-minutes-with-ace-portal.

1. What sort of gap/need in the private investment market spurred the inspiration for ACE Portal?

Peter Williams (PW): The initial basis for ACE Portal was born from practical experience.  Having worked in investment banking for close to a decade I was pulled into numerous private placement processes and was amazed at the inefficiencies in that process.  On the investment banking side the process is very labor intensive, with most investor interactions recorded manually.  Investor reach was highly limited and literally relied on a couple of guys and a telephone as the state of the art way to reach the investment community.  While there are over 30,000 qualified institutional buyers in the US alone, collectively we, the bankers, would determine which 25-75 investors would be the only ones to even know about the specific transaction we were marketing.  This took months and often resulted in failed transactions.  Ultimately I thought there had to be a better way to bring efficiency to this market, to increase transaction speed and success rates, all in a fully compliant manner.

Carl Torrillo (CT): For me, the inspiration is about democratizing access to capital for deserving companies and in turn democratizing access to deal flow for investors, which I believe ultimately helps stimulate growth in the economy.  The catalystfor me to leave my profession and join forces with Peter and Rich was the passage of the JOBS act.  This created the practical opportunity to address the grand vision of streamlining a tremendous (~$1 trillion) market.

Richard Pistilli (RP): What I found in the private investment market was a common structural impediment towards streamlining processes which was driven by antiquated systems and aversion to change.  The challenge to introduce efficiencies through innovation resonated with me, and it’s what I saw in ACE.  The private capital markets are in need of structural solutions that can transform the asset class, which can then enhance capital flows and accelerate economic growth.

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