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 August, we highlighted several Forge deals, including Rent the Runway, Calm, and Asana. In an effort to continue our coverage of these secondary market platforms, we are excited to highlight some active deals for the month of October.
Below are some of Forge’s current investment opportunities…
Circle – Circle is a peer-to-peer payment technology company based in Boston, Massachusetts. At the last round of Series E funding, Circle was valued at $3B. Shares currently sit at $16.23. Historically, Circle raised a new round every year for the first 4 rounds (Series A – Series D), with the Series E raise two years later. Given the fundraising history and the team expansion to 450 employees, it will likely raise a new round this year.
Udemy – San Francisco-based Udemy is an online learning platform with courses on everything from coding to art. In March 2020, it was valued at $2B following Series E funding. Shares are currently $15.57. This marks massive growth, as the valuation at Series D funding was less than half the current valuation, at $710M with shares at $6.22. If this trend continues, shareholders could see impressive returns on investment.
Robinhood – At its last round of Series G funding, the mobile-first stock brokerage was valued at $12B. Shares are currently $15.50. This Series G round was the second raise this year, with a Series F round back in May. At that point, Robinhood was valued at $8.5B with shares sitting at $12.50 apiece — an upward trend forecasting continued growth.
Procore Technologies – Procore is a California-based construction management software company that was valued at $5B in April 2020. Shares are currently $37.87. Now at 330 employees, the company is continuing to grow, propelled by two raises in July and December of 2019 for which the valuation was $3.2B and $4.7B, respectively.
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.
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.