MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Financial technology company Zanbato is pleased to announce it has secured a strategic investment from global financial services leader, J.P. Morgan (NYSE: JPM). The investment marks the first step in further aligning Zanbato's ZX platform with its membership through equity participation.
"We're pleased that J.P. Morgan shares our commitment to creating deeper and more reliable private markets," said Nico Sand, Zanbato Chief Executive. "We look forward to continuing to build out ZX, further enabling our members to more effectively serve their clients."
“Our strategic investment in Zanbato complements our commitment to support clients across the private market ecosystem, as we look to leverage tech-enabled platforms to source liquidity and increase execution speed,” said Andrew Tuthill, Global Head of Equities Private Markets, J.P. Morgan.
J.P. Morgan's commitment to private stock trading comes as top funds and institutional investors increasingly turn to secondary markets to actively manage their private company exposure. Based on Pitchbook data, in 2020 the combined value venture-backed private companies exceeded $2 trillion, having grown at more than 40% compound annual growth rate over the prior decade.
Zanbato is a financial technology company established to make private markets more liquid and reliable. Launched in 2016, Zanbato’s ZX platform is an independent, SEC-registered Alternative Trading System that is today the leading inter-broker platform for trading venture-backed private shares. More than 100 banks and brokers trust ZX for price discovery, liquidity, and trade execution services across private markets globally. To learn more about how to invest, trade, and manage risk with ZX, visit zanbato.com.
ZANBATO and ZX are trademarks of Zanbato, Inc. and are registered in various jurisdictions.