What Tangible Markets does

Tangible Markets is a London-based financial technology company founded in 2023 that provides on-demand secondary market liquidity solutions for private market investors. The platform addresses long-standing illiquidity in alternative investments by serving limited partners (LPs), general partners (GPs), and wealth managers through three core products: Auctions (a digital marketplace for secondary market transactions), Liquidity Hub for Closed-End Funds (white-label SaaS for internal secondary marketplaces), and Liquidity Hub for Semi-Liquid Funds (liquidity management tools for semi-liquid fund managers). The company operates a dual-entity structure with Tangible Markets Ltd. (UK, FCA-authorized via Laven Advisors LLP) and Tangible Technologies, Inc. (Delaware subsidiary holding proprietary software).

The platform's technology stack includes a Qualified Matching Service (QMS) compliant with US Treasury regulations — increasing the annual safe harbor limit on LP stake transfers from 2% to 10% — alongside a white-label Control Centre, real-time pricing analytics, and a financial backstop network of secondary buyers. The platform supports transaction valuations ranging from $75,000 to over $250 million and holds SOC1, SOC2 Type 2, and GDPR compliance certifications. Securities-related activity in the US is conducted exclusively through Finalis Securities LLC, a FINRA/SIPC member.

Tangible generates revenue through transaction fees on facilitated secondary market deals and recurring SaaS subscriptions for white-label platform deployments under multi-year enterprise contracts. Go-to-market combines direct enterprise sales with channel partnerships, most notably the September 2025 strategic investment and integration agreement with iCapital that provides distribution to iCapital's network of wealth managers, asset managers, and institutional investors. The company is positioned to capitalise on the projected growth of global alternative AUM from $16.8 trillion to $29.2 trillion by 2029.

Name

Tangible Markets

Legal name

Tangible Markets Ltd.

Website

https://tangible-markets.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Tangible Markets is a London-based fintech operating a SaaS platform for secondary-market liquidity in private funds, serving GPs, LPs, wealth managers, and institutional investors via auctions, white-label liquidity hubs, and a US-Treasury-compliant matching service, distributed directly and through iCapital.

Ownership category

akta.pro rank

Product category

Secondary Market Liquidity Platform

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

High-Net-Worth & Private Wealth Digital Platforms (Digital Private Banking) (FSAGAEAI)

Keywords

• Secondary market liquidity
• Private market auctions
• Alternative investment platform
• Fund liquidity solutions
• Wealth management technology

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Transaction/Platform Fees: Tangible facilitates secondary market transactions for private fund positions and earns fees for platform access and transaction facilitation. The platform enables transactions ranging from $75,000 to over $250 million in valuation for stakes in private equity, credit, real assets, and hedge funds.
2. Technology and Workflow Services: SaaS platform licensing and workflow tool services for secondary market processes, including white-label solutions for GPs and wealth managers

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Tangible Markets operates a SaaS platform that provides secondary sales and NAV lending for private funds and pre-IPO companies. The platform enables limited partners (LPs) to access liquidity for their private market positions, offers general partners (GPs) and wealth managers tools to manage internal secondary marketplaces with financial backstop, and connects transactions with a network of secondary buyers. Core products include digital auctions, a Liquidity Hub for Closed-End Funds, and a Liquidity Hub for Semi-Liquid Funds, all operating under a US Treasury Qualified Matching Service (QMS) compliant framework.

Product overview

Tangible Markets operates as a liquidity solutions provider for private market positions, offering a platform that combines secondary sales and NAV lending for private funds and pre-IPO companies. The product portfolio consists of three core offerings: Auctions (on-demand liquidity via digital secondary market transactions), Liquidity Hub for Closed-End Funds (internal secondary marketplace SaaS for GPs and wealth managers), and Liquidity Hub for Semi-Liquid Funds (liquidity management tools for semi-liquid fund managers). The platform transforms secondary markets for LPs, GPs, and wealth managers by providing curated auctions, real-time pricing, and portfolio analytics.

Differentiator

Problem solved

Functional benefit

Products and services

• Auctions Digital auction platform providing on-demand liquidity for secondary market transactions, offering deep analytics and tools to help counterparties achieve optimal outcomes through streamlined execution. Supports transaction valuations ranging from $75,000 to over $250 million.
• Liquidity Hub for Closed-End Funds SaaS platform enabling GPs and wealth managers to create an internal secondary marketplace backed by Tangible's financial backstop, featuring white-label or co-branded digital matching services for closed-end fund positions.
• Liquidity Hub for Semi-Liquid Funds Technology platform enabling semi-liquid fund managers to deliver liquidity experiences for investors, providing secondary sales, NAV financing, capital call facilities, and select asset liquidation solutions.

Quantifiable outcome

• LP stake transfer limit increased from 2% to 10% annual safe harbor through QMS compliance
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Finalis Securities LLCcoreTechnology or IntegrationSecurities-related activities are offered exclusively through Finalis Securities LLC, a member of FINRA and SIPC. Finalis operates as a registered broker-dealer providing securities processing infrastructure for Tangible's platform operations in the US market.
• Feederbridge PCC LimitedcoreOthersTangible Markets Ltd and Feederbridge PCC Limited are together referred to as 'Tangible' in Platform Access Agreements. Feederbridge is a protected cell company under the Companies (Guernsey) Law 2008, with cellular asset protections limiting liability to core assets.
• Laven Advisors LLPcoreOthersTangible Markets Ltd is an appointed representative of Laven Advisors LLP, which is authorised and regulated by the Financial Conduct Authority (FRN: 447282). Laven provides regulatory oversight and compliance framework for Tangible's UK operations.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Forge Global: Forge operates a leading private company secondary trading marketplace, matching buyers and sellers of pre-IPO shares. Directly comparable to Tangible's Auctions product on the secondary-marketplace dimension, though Forge focuses on pre-IPO equity rather than LP fund stakes.
• Zanbato: Zanbato is a private securities trading platform focused on secondary transactions in private company shares and fund interests. Closely aligned with Tangible's secondary-market infrastructure and matching-service approach for institutional clients.
• EquityZen: EquityZen operates a secondary marketplace for shares in private companies, serving accredited investors and employees. Comparable to Tangible on the secondary-marketplace model and matching-service mechanics, though focused on pre-IPO equity rather than LP fund stakes.
• Hiive (formerly SharesPost): Hiive operates a private securities marketplace facilitating secondary transactions in shares of private companies for accredited investors and institutions. Comparable to Tangible's matching-and-auction based secondary marketplace model.

Broad incumbents

• Nasdaq Private Market: Nasdaq Private Market is a regulated venue operated within the Nasdaq ecosystem for trading private company shares and fund interests. Comparable in offering secondary liquidity to LPs and shareholders, but with the scale, brand, and regulatory infrastructure of a major exchange operator.
• iCapital: iCapital is the dominant alt-investment platform serving wealth managers and institutional investors, and is both a strategic investor in Tangible and an integration partner. Comparable as a fintech platform serving the same wealth-manager and GP customer base with adjacent alt-investment infrastructure.
• Carta: Carta provides cap table, fund administration, and private market infrastructure to companies, GPs, and LPs. Comparable in providing the operational rails for private market participants and overlapping with Tangible's GP/LP customer base, though broader in scope.

Emerging players

• CAIS: CAIS is an alternative investment platform that connects wealth managers to alts fund offerings, with a focus on advisor education and operational infrastructure. Comparable to Tangible in serving wealth managers navigating private markets, though focused on primary access rather than secondary liquidity.
• Juniper Square: Juniper Square provides investor management and fund administration software for GPs and LPs in private markets. Adjacent to Tangible's white-label SaaS offering for GPs and serves overlapping customer segments (GPs, LPs, wealth managers).
• Moonfare: Moonfare is a digital private-markets platform offering access to top-tier PE, VC, and private credit funds, with a focus on individual and family-office investors. Comparable in digitalizing private fund access and offering portfolio/secondary services to wealth clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInuk.linkedin.com/company/tangible-markets

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tangible Markets