At KingsCrowd, we want to continue to be the most comprehensive platform for the private equity crowdfunding space. This includes secondary trading platforms — specifically, Forge Global. Forge is a secondary market platform for pre-IPO companies where early investors and employees can sell their shares. As such, Forge provides yet another option for investment opportunities available to our accredited investor base.
In October, we highlighted several Forge deals, including Circle, Udemy, Robinhood, and Procore Technologies. As we continue our coverage of these secondary market platforms, we are excited to highlight some active deals for the month of November.
Below are some of Forge’s current investment opportunities:
Convoy – Headquartered in Seattle, Washington, Convoy is a trucking software that connects shippers and carriers. At the last round of Series D funding, Convoy was valued at $2.8 billion. Shares currently sit at $13.54. Convoy has raised yearly beginning in 2016. The most recent funding round — the previously mentioned Series D — was in November 2019. This round the company’s post-money valuation was more than double its $1 billion post-money valuation for the prior Series C round. Investors include Fidelity and Lone Pine Capital. If you like this space be sure to also check out Flexport and ROBLOX, also on the Forge platform.
Digital Ocean – Digital Ocean is a cloud-computing company based in New York City, New York. At the last round of Series D funding, Digital Ocean was valued at $1.2 billion. Shares currently sit at $10.59. The most recent round of funding was a Series C in May 2020. The round before that was completed five years prior in 2015 when the company raised $83 million with a post-money valuation of $680 million. Investors include Andreessen Horowitz, Tuesday Capital, and Techstars.
Rubrik – Founded in 2014, Rubrik is a cloud data management company based in Palo Alto, California. Shares are currently $23.55 at a valuation of $3.3 billion. The most recent round of Series E funding was from January 2019. This followed a Series D round from April of 2017 at a $1.3 billion valuation. Investors include Bain Capital Ventures and Greylock. If you like this space be sure to also check out ThoughtSpot and Nutanix, also on the Forge platform.
We hope this serves as a jumping-off point for any of our accredited readers hoping to become more aware of the secondary market ecosystem. Additionally, we will continue to highlight Forge deals and other secondary markets as fully-comprehensive leaders in the private equity space.
As a reminder, all offers have $100k minimums and are exclusive of a 5% transaction fee. Also, all deals in the space are limited to accredited investors.
If you’re not an accredited investor but you’re interested in selling/buying startup shares, you still have options! NetCapital and StartEngine both offer secondary platforms where investors can trade their startup shares.
Wallstreet has Morningstar, S&P, and Bloomberg
The equity crowdfunding market has Kingscrowd.
About: Olivia Strobl
Olivia comes to KingsCrowd with a background in venture capital and technology. She spent time at Glasswing Ventures, an AI-focused venture fund in Boston, before joining the KingsCrowd team. There she helped develop machine learning algorithms for the opportunity qualification of preseed and seed-stage startup companies. Prior to her time at Glasswing, Olivia worked in a lab studying the neural correlates of attention. She holds a degree in Neuroscience from Wellesley College.