Nasdaq Private Market
Private-market infrastructure provider supporting tender offers, auctions, private-share trading, settlement, data and capital solutions.
nasdaqprivatemarket.comNasdaq Private Market provides technology and regulated-services infrastructure for private-company liquidity. Its users include private companies, employee shareholders, individual investors, institutions and market intermediaries.
The platform supports company-sponsored tender offers and liquidity programs, an investment marketplace, private-market data, share-transfer settlement and capital solutions. Nasdaq Private Market states that it is operationally independent from The Nasdaq Stock Market.
Principal activities
Tender offers, auctions and company-controlled programs for employees and other shareholders.
Access to private-company share transactions for eligible investors and sellers.
Private-market pricing information and workflow for private-share transfers.
- Typical participants: Private companies, Employees and shareholders, Institutional investors, Accredited individual investors, Banks and brokers, Wealth advisers.
- Transaction context: Liquidity before a public exit, portfolio rebalancing, employee equity, private-company investment access, fund-interest transfers or structured capital solutions.
Nasdaq Private Market operates in markets where securities are privately held, transfer restrictions may apply and price discovery is less standardized than in public markets. Its published capabilities emphasize company-sponsored liquidity and private-share trading. View the firm’s website ↗
Client and transaction coverage
- Private companies
- Employees and shareholders
- Institutional investors
- Accredited individual investors
- Banks and brokers
- Wealth advisers
- Tender offers
- Company-sponsored auctions
- Direct secondary trades
- Block transactions
- Private-share settlement
- Primary capital solutions
The availability and structure of any transaction depend on the security, shareholder rights, issuer consent, investor eligibility, jurisdiction, regulated entity and market conditions. Private securities are generally illiquid and may involve substantial risk.
Market position
Nasdaq Private Market is positioned as a private-market infrastructure and liquidity platform. Its market role reflects the combination of company-sponsored liquidity and private-share trading, participant access, transaction workflow and the regulatory framework applicable to its services.
Distinctive focus: Combines issuer-facing program administration with investor access, data and settlement infrastructure.
Competitive context
Nasdaq Private Market competes with digital marketplaces, broker-dealers, fund-secondary advisers, investment platforms and private-market data providers. The relevant peer set changes according to asset type, investor eligibility, ticket size, geography, issuer involvement and whether the service is advisory-led, broker-led or self-directed.
Comparable firms are selected according to overlap in business model, participant segment, asset coverage, geographic activity and transaction profile. Inclusion does not imply an exhaustive competitor set or an equivalence in scale, ranking or market position.
Leadership
| Person | Current position | Institutional background |
|---|---|---|
| Tom Callahan | Chief Executive Officer | Executive leadership and private-market infrastructure |
| Rotem David | Chief Product and Technology Officer | Product strategy, engineering and technology |
| Kevin Gsell | Managing Director and Head of Company Solutions | Tender, auction and company-liquidity solutions |
Leadership information reflects the roles presented in the public sources reviewed on 20 August 2026. View the current team ↗
Corporate and regulatory information
Nasdaq Private Market, LLC is not a registered exchange or investment adviser. Securities-related services are offered through NPM Securities, LLC, a FINRA and SIPC member; SecondMarket Financial, LLC is an SEC-registered investment adviser and a wholly owned subsidiary.
View registered-entity details
| Platform company | Nasdaq Private Market, LLC |
| Broker-dealer | NPM Securities, LLC |
| Broker-dealer status | FINRA / SIPC member |
| Investment adviser | SecondMarket Financial, LLC |
| Primary jurisdiction | United States |
Principal offices
- San Francisco
- New York
Rankings and recognition
Ranking inclusion is editorially determined. The existence or maintenance of a Wiki profile does not influence ranking eligibility, tier or position.
Related institutions and subjects
Sources and data transparency
The following sources were accessed on 20 August 2026:
- Nasdaq Private Market — products and user groups.
- Leadership — current executive roles.
- Disclosures and disclaimers — legal entities and regulatory status.
- Advisory Ranking — Top 20 Secondaries & Liquidity Solutions Advisory 2026 inclusion and tier classification.
