A capital market for private companies has appointed a chairman.
CrowdX is an electronic solution for issuing and trading securities in privately held businesses.
The Glasgow firm says its members experience the benefits of being a publicly quoted company, without the barriers and associated costs.
It claims that a number of companies have expressed an interest in signing up, including a number of football clubs who were formerly listed on traditional exchanges.
Paul Atkinson joins as chairman to help address the challenge facing thousands of privately held growth businesses in the UK – where owners are seeking to raise additional capital, whilst shareholders and bondholders are looking to realise the value of their investments.
“Creating liquidity in private capital markets presents a tremendous opportunity,” he said.
“As an asset class, this sector already generates significant wealth, but by facilitating liquidity, CrowdX is opening up a range of investment opportunities which would otherwise be difficult to access.
“I am delighted to be involved with the high-quality team who are bringing this concept to market.”
Atkinson has a recognised track record of building value for companies in the technology and services sector. He is a founding partner of venture capital firm and EIS fund manager Par Equity, and chairman of talent solutions business Taranata Group.
Atkinson is also a visiting professor of the Napier University Business School and chairman of Converge Challenge, a catalyst for accelerating the creation of innovative products and services from Scottish universities.
Mike McCudden, CEO of CrowdX, commented: “On behalf of the entire CrowdX team, I am delighted that Paul has accepted the role of chairman.
“His track record as both a successful entrepreneur and a visionary angel investor means that he is acutely aware of the value a vibrant secondary market can offer privately held businesses.”