Globacap has raised more than £17 million in Series B funding as the firm ramps up its drive to digitise and automate the world’s private capital markets. 

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. 

Total private markets’ 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.  

Globacap’s 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.  

£203m private equity takeover at Kin and Carta plc

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.  

“Private capital markets are rapidly growing, but their opaque nature is holding them back from reaching their true potential,” said Myles Milston, co-founder and CEO. “Securing 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. 

“We’re in a unique position to grow through the current market turmoil, leading with strength as market conditions eventually improve.” 

Alex Green, co-founder and CCO, added: “The completion of our Series B enables us to firmly accelerate our global scaling journey. 

“In recent weeks, we have made experienced hires including new COO Joanna Tibbitt and new CMO Suzanne McLaughlin.

“We 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’s largest and most respected institutions.”

Netacea changes CEO as Mercia invests £4.5m