AK

Hiive's Advantagein the New Private Market Reality

November 11, 2025

This internal brief outlines Hiive's operational strengths and presents a practical roadmap aligned to the demand dynamics shaping the private stock market.

The Private Stock Markets are well on their way to becoming mainstream

In the past 30 days alone, $1.5B has been deployed to buy infrastructure for the next generation of private-market access.

$0$1.5B
October 12, 2025
Goldman Sachs→Industry Ventures
~$960M
October 28, 2025
Morgan Stanley→EquityZen
Unknown
November 5, 2025
Charles Schwab→Forge Global
$660M

Banks are racing to build rails for private markets because:

Issuer control = deal flow

Owning secondary liquidity creates direct relationships with unicorns pre-IPO.

Wealth client retention

Private wealth allocated to alternative assets is projected to grow from $4T today to $13T by 2032. Private-market access is now table stakes for $1M+ clients.

Speed to market

Legacy banks can't build this UX or marketplace infrastructure fast enough: they need platforms like Hiive.

Private Stock Marketplace

The private capital market has three forces: sellers, buyers, and issuers. Hiive built the system that lets them meet in one transparent venue.

Hiive operates a classic two-sided marketplace where liquidity on one side attracts the other: buyers (funds, family offices) bring credible bids that create price signals, while sellers (employees, early investors) supply inventory that makes those bids actionable.

Liquidity only becomes durable when the buy-side is institutionalized: crossovers, secondaries funds, sector specialists, and wealth channels that post repeatable demand.

The GTM should therefore prioritize scaling the demand stack: a deep, programmatic buy-side is what ultimately attracts sellers and earns issuer trust.

Hiive logo

Digging deeper into Hiive's moat

Assets that compound defensibility across data, trust, structure, brand, and compliance.

Live Order Book
Data Layer
Visible pricing data in late-stage private stock
Network Effects
Marketplace Moat
Two-sided liquidity creates compounding advantage
Compliance Rails
Regulatory Moat
FINRA/SIPC membership + Alternative Trading System (ATS) license = High barriers to entry
Transparent Pricing
Trust Layer
Shared market depth and spread visibility
HiiveFundsEmerging
PRODUCT LAYER
Closed-end fund products that bring ETF-like accessibility to private markets
Hiive50 IndexEmerging
Brand & Benchmark
Barometer of private markets
Relative moat strength

Few possible product paths forward

Based on my research of this industry, it appears to me that the first broker-dealer that delivers a genuinely beautiful private market experience with a clean UI, reasonable minimums, and actual liquidity will own a massive competitive advantage. As such, I see a few possible product paths forward.

RIAs and Wealth Management Focus

Banks, Custodians, and Wealth Platforms