MarketX lets Chinese investors pour cash into pre-IPO tech firms


An online investment platform that allows Chinese investors to access a number of “alternative” U.S. investments officially launched Monday.

Financial technology firm MarketX lets upper-middle class and institution Chinese investors to invest in tech firms that have not yet issued shares to the general public. These include such notable names as ride-hailing giant Lyft, music platform Spotify, bulletin board site Pinterest and workplace messaging app Slack.

But they will also be given the opportunity to enter less tapped markets such as litigation finance and real estate, artificial intelligence, customizable portfolios driven by themes like health, and companies founded by Tesla’s Elon Musk.

“Our goal is to improve the access to U.S. financial products but also education for a new generation of wealthy individuals and institutions to access this pool of investments that previously was only free to really ultra-high networks of individuals and private banks,” Cathryn Chen, founder and CEO of MarketX, told CNBC in a phone call ahead of the announcement.

Chen told CNBC that her company has been expanding its reach into the Asia-Pacific region.

“Over the last two years we’ve built offices around Shanghai, Beijing, Singapore, Shenzhen and our main offices in San Francisco.”

Source link

Products You May Like

Articles You May Like

Bank of America downgrades Procter & Gamble on ‘longer lasting’ challenges
The market is now pricing in almost a 50/50 chance of four rate hikes this year
Big banks saved $3.6 billion in taxes last quarter under new law
Advisors offer ‘TIPS’ on possible inflation comeback
New grad job outlook: Higher salaries, fewer offers

Leave a Reply

Your email address will not be published. Required fields are marked *