Zanbato

What Zanbato does

Zanbato, Inc. is a private multi-billion-dollar financial technology and investment firm headquartered in Mountain View, California, with a regulated subsidiary (Zanbato UK Ltd) in Saffron Walden, England. The company operates a two-sided private securities crossing network on its ZX platform, providing market infrastructure for transaction processing, settlement, and order flow visibility to banks, brokers, and wealth management groups serving institutional and private wealth clients. Its complementary ZXData product delivers institutional non-tender secondary trading analytics — including buy/sell interest, mark-to-market prices, holding data, and market sentiment — covering 2,000+ private companies, with $200B+ in tracked ticket volume and $8B+ in executed volume since 2017.

The firm generates revenue through three primary streams: (1) Zanbato Capital, which manages approximately $5B in assets across 115 portfolio investments in growth-stage technology companies (AI, aerospace, defense, energy, fintech, crypto, data & analytics, infrastructure), earning management and performance fees from family offices, institutional investors, private banks, and UHNW individuals at $10M–$200M ticket sizes; (2) Zanbato Securities LLC, a FINRA/SIPC broker-dealer earning transaction-based fees and referral fees (20–30% of management fees, 50–300 bps on aggregate funds introduced) on private market transactions and alternative investment placements; and (3) ZX/ZXData subscription services for institutional data and trading infrastructure. Zanbato Fund Services provides turnkey fund administration (entity formation, accounting, reporting, LP transfers) to emerging managers, capital aggregators, banks, and wealth platforms.

Operationally, Zanbato employs 11–50 staff and operates through three regulated entities: Zanbato Securities LLC (FINRA/SIPC member), Zanbato Advisors LLC (SEC-registered investment advisor), and Zanbato UK Ltd (FCA regulated). The platform encrypts data at-rest, uses SSL for all communications, and undergoes regular third-party security audits. Distribution is direct and enterprise-focused, supported by a LinkedIn presence and a corporate website with segmented contact routing for brokers, wealth managers, fund managers, family offices, and HNW individuals.

Name

Zanbato

Legal name

Zanbato, Inc.

Website

https://zanbato.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Zanbato is a private financial technology and investment firm operating a private securities crossing network (ZX) and analytics platform (ZXData), while managing $5B across 115 technology investments through Zanbato Capital, serving banks, brokers, wealth managers, family offices, and institutional investors under FINRA/SIPC, SEC, and FCA regulation.

Ownership category

akta.pro rank

Product category

Private Market Trading Platform

NAICS

Portfolio Management and Investment Advice (52394), Open-End Investment Funds (52591)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Non-Performing Loan (NPL) / Loan Portfolio Acquisition Funds (FSANAKAG)

akta.pro secondary industries

Crypto Borrowing & Margin Credit Facilities (FSADAFAC), Personal Financial Management & Budgeting (PFM) (FSAGAAAH), Crypto/Web3 Neobanks (FSABAFAG)

Keywords

• Private market trading
• Securities crossing network
• Alternative investment platform
• Private market analytics
• Venture capital funds

Headquarters

HQ city

Mountain View

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Asset Management Fees: Zanbato Capital manages private investment funds for sophisticated investors, generating revenue through management fees and performance fees on assets under management of approximately $5 billion.
2. Broker-Dealer Services: Securities brokerage services through Zanbato Securities LLC (FINRA/SIPC member). Earns transaction-based fees from facilitating private market transactions and earns referral fees from introducing investors to alternative investment products (hedge funds, private equity, real estate, managed futures). Compensation ranges 20-30% of management fees and 50-300 basis points on aggregate funds introduced.
3. Platform Subscription Services: ZX and ZXData platforms provided to banks, brokers, and wealth management groups for accessing private market data, trading capabilities, and analytics. Supports institutional and private wealth client investing.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Zanbato is a private securities crossing network and multi-billion dollar private investment firm that operates the ZX trading platform for private market order execution, the ZXData analytics platform for institutional non-tender secondary trading data on private companies, and Zanbato Capital, which manages approximately $5 billion in long-term, founder-aligned capital dedicated to technology companies. The firm also provides Zanbato Fund Services for end-to-end fund administration and operates broker-dealer (FINRA/SIPC) and SEC-registered investment advisory subsidiaries.

Product overview

Zanbato operates as a multi-product financial technology platform centered on two core offerings: ZX (a private market trading platform providing market infrastructure, transaction processing, and order flow visibility) and ZXData (a private market data and analytics product delivering market sentiment, mark-to-market pricing, and investment intelligence on over 2,000 private companies). The company also operates Zanbato Capital as its private investment arm managing $5B in assets, and provides Zanbato Fund Services for end-to-end fund administration and operational support. The subsidiary structure includes Zanbato Securities LLC (FINRA/SIPC member broker-dealer), Zanbato Advisors (SEC-registered investment advisor), and Zanbato UK Ltd (FCA regulated).

Differentiator

Problem solved

Functional benefit

Brands

• ZX: Market infrastructure platform providing tools, data, and market access for private trading desks to support institutional and private wealth clients investing in private markets. Offers transaction processing, order flow data, mark-to-market prices, and primary financing round data.
• ZXData

Products and services

• ZX Private market trading platform providing market infrastructure to banks, brokers, and wealth management groups, enabling institutional and private wealth clients to invest in private companies. Offers transaction processing, order flow data, mark-to-market prices, and primary financing round data, with $200B+ ticket volume and $8B+ executed volume since 2017.
• ZXData Institutional non-tender secondary trading data platform offering market sentiment data, mark-to-market pricing, holding data, and comparable analysis for 2,000+ private companies. Combines data from ZX with data partners to support asset collateralization, loan-to-value decisions, and structured product development.
• Zanbato Capital Private investment firm managing approximately $5 billion in assets across 115 investments, backing category-leading technology companies in AI, aerospace, defense, energy, fintech, crypto, data & analytics, and infrastructure sectors with $10M–$200M ticket sizes.
• Zanbato Fund Services Comprehensive turn-key private fund administration service providing entity formation, offering documents, bank account setup, investor onboarding, capital deployment, fund accounting, investor reporting, tax support, and LP transfers for venture and growth funds, emerging managers, capital aggregators, banks, and wealth platforms.

Quantifiable outcome

• 10-year track record of market infrastructure operation
• +1 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Singular GlobalminorChannel Partner/ Reseller/ DistributorSingular Global members are third-party marketers of curated funds registered with Zanbato Securities LLC. They are involved in distributing alternative investment products managed by counterparties that Zanbato Securities represents.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Forge Global: Forge operates a private securities trading platform and data analytics business serving institutional investors, company employees, and shareholders in late-stage private companies. It is the closest direct competitor to Zanbato's ZX and ZXData products, with overlapping target customers (banks, brokers, wealth managers, institutions).
• EquityZen: EquityZen runs a private market secondary investment platform providing investors access to pre-IPO shares and structured solutions, and offers a data product covering private company valuations and transactions. It competes directly with Zanbato's ZX platform and ZXData analytics.
• Carta: Carta provides cap table management, secondary liquidity, and private market data services for companies, investors, and employees. Its secondary platform and private market data offerings overlap materially with Zanbato's ZX trading and ZXData analytics.
• Nasdaq Private Market: Nasdaq Private Market provides secondary trading, tender offers, and liquidity solutions for private company shares, leveraging the Nasdaq brand and infrastructure. It competes directly with Zanbato's ZX platform in serving banks, brokers, and institutional clients trading private securities.
• SharesPost: SharesPost operates an online private equity marketplace and research platform facilitating secondary transactions in shares of pre-IPO companies. It targets accredited investors and institutions, overlapping with Zanbato's investor base and trading platform.
• iCapital Network: iCapital is a fintech platform connecting alternative investment managers with wealth advisors and their high-net-worth clients, offering fund structuring, subscription, and data tools. It is comparable to Zanbato's combined fund administration, data, and distribution business for the wealth channel.
• Linqto: Linqto operates a technology-driven private securities investment platform enabling accredited investors and institutions to access and trade shares in private, late-stage technology companies. It is a direct competitor to Zanbato's secondary trading business.

Broad incumbents

• Morgan Stanley Private Markets: Morgan Stanley's private markets group provides wealth and institutional clients access to private equity, private credit, and private real estate via funds and SMAs. It is a broad incumbent competitor to Zanbato's combined investment, data, and distribution offering, but operates as one division within a global bank.

Emerging players

• Moonfare: Moonfare provides a digital platform for individuals and wealth managers to access top-tier private equity and venture capital funds. It is an emerging peer to Zanbato's investor-facing distribution of curated alternative products via Zanbato Securities.
• Masterworks: Masterworks offers a platform for individual investors to buy and sell fractional shares in blue-chip artwork, combining an alternative investment platform with proprietary data on private asset valuations. While focused on a different asset class, it shares Zanbato's model of combining investment access with proprietary analytics for non-traditional assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zanbato
• Xx.com/zanbatogrp
• Facebookfacebook.com/168877749832665

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds8 records

Investors8 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 Zanbato