Pre-IPO Secondary Market Update 2023YTD

July 18, 2023

The Pre-IPO Asset Class: Quick to Correct, Longer to Recover

The Caplight Top 20 Index has declined (68.76%) from its February 2022 peak to its current valuation. Historically, private secondary market valuations lag the public markets by 1 - 2 quarters depending on market cycle, and we expect that private market valuations bottomed towards the end of Q2 2023. The private secondary market historically has outperformed public market comps (QQQ ETF) in bull markets, and underperformed in bear markets.

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Jan 12, 2023

Caplight secures $3 million strategic investment from Deutsche Börse to expand derivatives trading and hedging on private company shares

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Disclaimer

All investments involve risk, including the risk of loss of principal. You should carefully consider your investment objectives, risks, transaction costs and other expenses before deciding to invest in options, swaps or other investments.

This does not constitute an offer by Caplight Technologies, Inc. to sell, or a solicitation of an offer to buy, any securities and may not be used or relied upon in connection with any offer or sale of securities. An offer or solicitation can be made only through the delivery of final offering document(s) and purchase agreement(s), and will be subject to the terms and conditions and risks delivered in such documents. Any securities offered are offered through Caplight Markets LLC, member FINRA/SIPC.

Pre-IPO Secondary Market Update 2023YTD

Indicative Bid Volume vs. Total Volume at Highest Level Since 2021

Caplight Data Secondary Market Year-in-Review 2023

Hedge Funds Gave Startups Billions. What Are They Worth?

Caplight secures $3 million strategic investment from Deutsche Börse to expand derivatives trading and hedging on private company shares