In May 2019, Carta announced its plans to build a share trading platform for private companies called CartaX.

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The startup restated its intentions in its recent fund raise. It would allow companies with over $1Bn in revenues and at least $50mm worth of shares to float, to enlist on its platform.

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7GC Founding Partner, Jack Leeney, shared his view on the private secondary platform with the Financial Times this week. He was quoted,

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“This only makes sense and only works for the biggest issuers in the world, provided the secondary market wants to pay a higher price,”. And, further adding, “In the event there’s ever lower prices . . . the company’s totally disincentivised.”

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The full article can be found in the Financial Times here.