MDB Capital Group

What MDB Capital Group does

MDB Capital Group (NASDAQ: MDBH) is a public venture bank founded in 1997 that takes disruptive deep-technology and life-sciences companies public via IPO, operating through two integrated wholly-owned subsidiaries: PatentVest (an AI-native IP intelligence platform, strategy consultancy, and IP law firm) and MDB Direct (a FINRA/SIPC-registered self-clearing online brokerage and mobile trading platform). The firm runs a proprietary curation process — screening 8,964 companies and examining 217 in depth in 2024 — using PatentVest's global patent database (covering 1,200+ patent documents across clinical-stage programs) to identify category-leading technologies, then co-founding selected companies before launching them on public exchanges. Its go-to-market targets accredited high-net-worth investors, family offices, and RIAs through a curated investor community portal (members.mdb.com), with deal-by-deal participation rather than fund commitments.

The business model combines four revenue streams: IPO underwriting and advisory fees (with a target of 3–5 IPOs per year, up from one every 18 months), per-share and annual-account brokerage commissions on MDB Direct (per-share fees of $0.025 for trades at ≥$1, $0.05–$0.10 for liquidation of MDB-offering stock, 1% for sub-$1 trades, plus $100/year account fees and ancillary service charges), PatentVest IP advisory and legal services (8 clients in 2024, up from 3 in 2023), and equity stakes in portfolio companies (e.g., ~47% ownership in eXoZymes with ~$30M in shares/warrants, plus 7.1M shares/warrants in Paulex Bio). FY2025 revenue was approximately $4.91M against a net loss of -$21.25M, with $22.3M in cash and marketable securities and ~$5.7M net cash burn; fixed operating expenses of ~$10M annually are targeted to fall to ~$6M following planned spinouts of PatentVest and MDB Direct. The firm holds a 29-year track record of 17 IPOs with 100% premium-to-IPO trading and marquee exits including Medivation ($14B to Pfizer) and Provention Bio ($2.9B to Sanofi).

Name

MDB Capital Group

Legal name

Public Ventures, LLC

Website

https://mdb.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

51–100 employees

Short description

MDB Capital Group (NASDAQ: MDBH) is a public venture bank founded in 1997 that launches disruptive deep-tech and life-sciences companies via IPO, integrating PatentVest (AI-native IP intelligence and law firm), MDB Direct (self-clearing brokerage), and a curated HNW investor community.

Ownership category

akta.pro rank

Product category

Public Venture Investment Banking

NAICS

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

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Strategic / Balance-Sheet CVC (On-balance-sheet investing) (FSANAHAA)

akta.pro secondary industry

Multi-Dealer Platforms (Multi-Asset) (FSAFAEAF)

Keywords

• Public venture banking
• IPO underwriting services
• Broker-dealer platform
• IP intelligence consulting
• Deep tech investment banking

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Banking / IPO Launch Fees: MDB Capital earns investment banking fees by launching deep-tech companies through IPOs and post-IPO offerings, taking large portions of fees in equity. The firm targets launching 3–5 companies per year (up from one every 18 months), with each IPO generating underwriting and advisory fees.
2. Brokerage Commissions and Account Fees: MDB Capital operates a self-clearing broker-dealer generating commissions on securities trades (per-share fees on liquidations, stock price-based commissions), annual account fees ($100/year), and miscellaneous service fees (wire transfers, DRS transfers, safekeeping, etc.). The MDB Direct platform is the primary channel for retail investor trading.
3. IP Advisory and Legal Services (PatentVest): PatentVest, the integrated IP strategy and law firm division, provides IP intelligence, strategy development, and legal services to clients. Revenue generation is described as early-stage with eight clients as of 2024, up from three in 2023.
4. Portfolio Company Equity Stakes: MDB takes large equity positions in companies it co-founds and launches, with revenue realized through portfolio company growth and eventual IPO/spinout. Examples include ~47% ownership in eXoZymes and ~$30M in eXoZymes shares/warrants.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

MDB Capital is an IP-driven public venture bank that identifies, curates, and launches early-stage disruptive deep-technology and life sciences companies through IPOs and post-IPO offerings. Its revenue-bearing products are an AI-native IP intelligence and law firm (PatentVest), a self-clearing online broker-dealer with mobile trading app (MDB Direct), IPO underwriting and joint bookrunning services, and a curated investor community that participates deal-by-deal in public-venture financings. The integrated platform is positioned for both issuers seeking public capital access and accredited investors seeking venture-stage liquidity.

Product overview

MDB Capital Group operates a public venture platform that transforms disruptive early-stage technology companies into investable public companies. The platform integrates three core components: MDB Direct (an online brokerage and trading platform for public venture investing with mobile apps), PatentVest (an AI-native IP intelligence, strategy, and law firm providing competitive patent analysis), and a curated investor community for early-stage public company financing. The company also offers self-directed IRA services through STRATA Trust for alternative investments.

Differentiator

Problem solved

Functional benefit

Products and services

• MDB Direct Self-clearing online brokerage and mobile trading platform for public venture investors, offering account management, securities trading, real-time market data, news/alerts, and settlement in one place.
• PatentVest Integrated IP intelligence, strategy consulting, and law firm providing AI-native patent analysis, IP diligence, outcome-based Examination-Upfront patent prosecution, and competitive patent intelligence for technology and life sciences clients.
• IPO Underwriting and Book-Running Services Investment banking services for deep-tech and life sciences issuers, acting as sole book-running manager or joint bookrunner for IPOs (NASDAQ, NYSE American, Nasdaq Capital Market) and post-IPO offerings, with equity participation alongside cash fees.
• Self-Directed IRA Custody Services Self-directed retirement account services provided through Strata Trust that enable alternative investments such as private equity, closely-held stocks, real estate, precious metals, and promissory notes within MDB Direct accounts.

Quantifiable outcome

• 100% of MDB-launched companies taken public via IPO or public offering have traded at a premium to IPO price
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Keiretsu Forum (Mid-Atlantic, South-East, and Texas)minorStrategic or Co-development Partner · 11 December 2025Keiretsu Forum Mid-Atlantic, South-East, and Texas, along with MDB Capital, completed two investor conferences in Atlanta and Philadelphia in 2025, attracting over 150 investors and highlighting regional startups. Future summits planned for 2026 in Dallas, Atlanta, and Philadelphia to develop syndication and funding pathways.
• Strata TrustcoreOthersStrata Trust provides self-directed IRA custody services for MDB Direct accounts, enabling investors to hold a wide array of alternative investments (private equity, closely-held stocks, REITs, precious metals, promissory notes) not available in conventional IRAs. MDB has engaged Strata Trust as its primary IRA services partner.
• Interactive Brokers LLCcoreOthersInteractive Brokers LLC serves as MDB Capital's fully disclosed clearing firm for customer accounts introduced on a fully disclosed basis. IB provides trade execution, clearing, and related activities. MDB directs order flow to IB for these accounts. MDB also maintains securities accounts through IB under a fully disclosed clearing relationship.
• InvescominorOthersMDB Capital partnered with Invesco Advisers, Inc. to offer the Invesco Government Money Market Fund as a core position option for MDB Direct accounts, enabling investors to earn interest on cash balances.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Roth Capital Partners: Boutique investment bank and broker-dealer focused on small-cap and microcap IPOs, follow-on offerings, and equity research — closely comparable to MDB's investment banking and underwriting function across similar client profiles.
• Maxim Group: Full-service boutique investment bank serving microcap and small-cap issuers with capital markets, sales and trading, and investment banking services — a direct competitor for MDB's IPO underwriting and brokerage mandates.
• H.C. Wainwright & Co. Investment bank focused on healthcare, technology, and cleantech microcap/small-cap IPOs and follow-on offerings — directly comparable to MDB's deep-tech and life-sciences underwriting franchise.
• Dawson James Securities: Boutique investment bank specializing in microcap and emerging-growth company IPOs, particularly in healthcare and life sciences — closely overlaps MDB's small-deal, life-sciences-heavy underwriting mix.
• A.G.P. / Alliance Global Partners: Full-service broker-dealer and investment bank focused on small-cap and microcap equity offerings, sales and trading, and corporate advisory — directly comparable to MDB's integrated broker-dealer and underwriting platform.
• ThinkEquity: Boutique investment bank focused on small-cap and emerging-growth IPOs and capital-raising — competes with MDB for the same deal flow of venture-stage companies seeking public-market access.
• EF Hutton (formerly Aegis Capital): Boutique investment bank and broker-dealer serving small-cap and microcap issuers with capital markets, advisory, and equity research — comparable underwriting profile and target-issuer base to MDB.
• The Benchmark Company: Privately held investment bank and broker-dealer focused on microcap and small-cap equity capital markets, institutional sales and trading, and investment banking — directly comparable distribution and underwriting model.
• Spartan Capital Securities: Boutique broker-dealer and investment bank serving microcap and small-cap issuers across equity capital markets and institutional sales/trading — comparable client profile and deal-size focus to MDB.

Broad incumbents

• B. Riley Financial: Larger diversified financial services firm with capital markets, investment banking, and brokerage operations across small-cap and special situations — a broader incumbent serving overlapping microcap/small-cap IPO and advisory clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mdb-capital-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments5 records

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

Frequently asked questions about MDB Capital Group