SharesPost grabs $15m for Series C led by LUN, Kenetic

SharesPost, a trading and lending solutions provider for the private tech asset class, has raised $15m in Series C round.

The funding round was led by LUN Partners and Kenetic Capital.

US-based SharesPost is a liquidity provider to the private technology growth asset class, helping the share trading of over 200 private companies. Its trading volume recently surpassed $4bn, according to the company.

SharesPost is a FINRA-registered broker-dealer, SEC-registered Alternative Trading System and Registered Investment Advisor.

The platform also has a 100 fund, which is a closed-ended interval fund to provide investors with a range of opportunities. Earlier in the year, it amended its Form ATS to include blockchain securities and tokens, enabling it to conduct ICOs and facilitate secondary transactions in digital securities.

Alongside trading, SharesPost supplies users with data and analytics to understand the markets as well as an option to take out loans for investments.

Proceeds from the round will be used to develop its Alternative Trading System for private company shares and security tokens. It will also look to further expansion into the Asian market.

SharesPost founder and CEO Greg Brogger said, “Our strategy is to create a single, global marketplace for traditional and digital securities of private growth companies. Connecting U.S. and Asian investors and companies on our ATS is a key objective in realizing that vision.

“With the relationships, capital and expertise of Kenetic Capital and LUN Partners, SharesPost is positioned to rapidly expand its presence throughout Asia.”

As part of the transaction, Kenetic Capital founder and managing partner Jehan Chu will join SharesPost’s board of directors.

He said, “SharesPost is building what we think will be the world’s leading secondary platform for ICO’s and secondary trading of security and utility tokens. Where others are still just talking about when they might launch their ATS, SharesPost has been operating their ATS for years and has the technology, team and customers necessary to enable global trading of digital securities.”

LUN Partners Group founder and chairman Peilung Li will also join SharesPost’s board of directors. A partnership between the company and LUN has also been formed and will see SharesPost China will extend its reach across greater China.

Copyright © 2018 FinTech Global

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