Globacap has raised more than 拢17 million in Series B funding as the firm ramps up its drive to digitise and automate the world鈥檚 private capital markets.聽
Investors include capital markets heavyweights Moore Strategic Ventures, LLC, Cboe Global Markets, Inc. and the Johannesburg Stock Exchange (JSE), as well as GABI Ventures and Asia-focused investment firm QBN Capital.聽
Total private markets鈥� assets under management reached $11.7 trillion in 2023 and have grown at an annual rate of nearly 20% since 2017. This is expected to nearly double over the next five years.
Despite the size and importance of this rapidly growing market, transactions are still laborious, manual and time-consuming, often taking weeks or months.聽聽
Globacap鈥檚 workflow automation software-as-a-service aims to bring public markets-like efficiency to private markets.
It streamlines time-consuming processes from issuance, and ongoing administration, through to transferability and settlement of securities, reducing costs and improving efficiency for market intermediaries.聽聽
Globacap has grown rapidly since launching six years ago. It hosts 15 whitelabels for global institutions and an ecosystem that has managed over 70 private placements and completed over $350 million in secondary transactions of private assets, with automated settlement, and currently administers $14 billion of private securities.鈥�
“Private capital markets are rapidly growing, but their opaque nature is holding them back from reaching their true potential,鈥� said Myles Milston, co-founder and CEO. 鈥淪ecuring considerable backing from world-leading investors during a time of market turbulence, risk aversion and uncertainty is powerful validation of our mission to transform and drive efficiency in private capital markets.聽
鈥淲e鈥檙e in a unique position to grow through the current market turmoil, leading with strength as market conditions eventually improve.”聽
Alex Green, co-founder and CCO, added: 鈥淭he completion of our Series B enables us to firmly accelerate our global scaling journey.聽
鈥淚n recent weeks, we have made experienced hires including new COO Joanna Tibbitt and new CMO Suzanne McLaughlin.
鈥淲e have a strong team, market validation from key clients across exchange groups, securities firms, private equity, and other asset managers, and now validation from our investors, who are some of the world鈥檚 largest and most respected institutions.鈥�