Nasdaq Private Market Valuation Quadruples in Latest Funding Round
New York, Friday, 16 January 2026.
Securing a massive fourfold valuation jump since 2024, Nasdaq Private Market closed its Series C round today, underscoring the surging demand for liquidity and infrastructure in private equity.
Institutional Backing Drives Valuation Surge
On Friday, January 16, 2026, Nasdaq Private Market (NPM) announced the successful closing of its Series C financing round, securing $37.6 million in fresh capital [1]. This latest injection represents a valuation increase of more than four times compared to the company’s Series B round in 2024 [1]. The financing was led by Cerity Partners, a wealth management firm, with significant participation from Optiver, a global market maker [1]. Existing investors, including Nasdaq, Inc., DRW Venture Capital, and HiJoJo Partners, also contributed to the round, reinforcing their commitment to NPM’s independent trajectory since its spin-out in 2021 [1].
Strategic Expansion and Leadership
The composition of the new capitalization table signals a strategic alignment with broader financial sectors, specifically wealth management and trading infrastructure. Alongside the capital injection, Michael Barry, Chief Growth Officer at Cerity Partners, and Liam Smith, Chief Strategy Officer at Optiver, have been appointed to NPM’s board of directors [1]. These additions are intended to deepen the company’s expertise in serving private company employees and advancing market structure [1]. According to Barry, the partnership will focus on delivering guidance for tender offers and broader financial well-being for employees in the private sector [1]. Meanwhile, Smith emphasized that improving standardization and transparency is critical for scaling participation in private market ecosystems [1].
A Structural Shift in Private Markets
This funding milestone arrives against a backdrop of intense activity within the secondary market. In 2025, NPM recorded a record year, facilitating approximately $15 billion in transaction volume [1]. Since its inception, the platform has executed nearly $70 billion in total volume across more than 900 company-sponsored liquidity programs [1]. Tom Callahan, CEO of Nasdaq Private Market, noted that the sector is undergoing a “structural shift” as companies elect to remain private for longer periods, creating complex liquidity needs at earlier stages of development [1]. This trend is corroborated by broader market data released on January 15, 2026, which indicates that 37% of defined contribution (DC) plan sponsors are now “very interested” in investment vehicles that allocate to private markets [2]. Among larger plans overseeing between $250 million and $1 billion, this interest spikes to 57% [2].
Innovation and Future Outlook
Looking ahead, NPM plans to utilize the Series C proceeds to accelerate product innovation and apply artificial intelligence to streamline transaction efficiency [1]. René Paula, CFO of Nasdaq Private Market, highlighted that the investment will support the increasing volume of secondary transactions and enhance connectivity across market participants [1]. As the gap between public and private markets continues to blur, the integration of sophisticated trading technology and wealth management channels appears essential. While adoption in sectors like DC plans remains a consultative process—with estimates suggesting 7% of sponsors will offer private market exposure by 2031—the infrastructure being built today positions NPM to capture this expanding liquidity demand [2].