Name

ClearList

Legal name

ClearList Holdings LLC

Website

https://clearlist.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Management fees paid monthly or quarterly in advance, ranging from 60 basis points (0.6%) to 150 basis points (1.5%) per annum of aggregate capital contributions to fund clients. Class A and Class B members may pay different fee amounts.
2. Performance-Based Fees (Carried Interest): Performance fees ranging from 6.0% to 12.25% of distributions after investors have received 100% of their capital contributions back. Paid to related party Carried Interest Members when specific performance hurdles are met.
3. Private Placement Transaction Fees: Transaction-based commissions and sales concessions for subscribing to private placements, generally 2-6% of initial investment amount. Similar amounts may be paid on management fees. These fees are charged when a transaction occurs.
4. Secondary Transaction Fees: Sales compensation based on total dollar amount bought or sold in private secondary transactions, generally 2-6% of total transaction value.
5. ATS Commission: ClearList ATS commission charged at 1% on trades executed through the Alternative Trading System, plus potential administrative and transfer fees.
6. Referral Fees: One-time referral fee equal up to 200 basis points (2.00%) of aggregate Capital Contributions, paid to referral agents for members they refer to fund clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

ClearList operates a FINRA/SIPC-registered Alternative Trading System for executing secondary transactions in private securities, paired with a broker-dealer offering private placement services and an SEC-registered investment advisor managing private pooled investment funds. The platform connects sophisticated accredited investors and qualified purchasers to exclusive private company investment opportunities through direct secondaries, proprietary funds, co-investments, and tender offer assistance, supported by real-time price discovery (ClearPrice), same-day settlement, and an integrated market maker.

Product overview

ClearList is a multi-component financial services platform for private market transactions, comprising three core entities: ClearList LLC operates a FINRA-registered Alternative Trading System for secondary private securities trading with same-day settlement; ClearList Securities LLC acts as a broker-dealer providing direct execution and placement agent services; and ClearList Capital LLC serves as an SEC-registered investment advisor managing three proprietary fund vehicles (CLC AI LLC, CLC ALPHA LLC, CLRS X LLC). The platform offers investor services including Direct Secondaries, Proprietary Investment Funds, Co-Investments, and Tender Offer Assistance, powered by ClearPrice for real-time price discovery and ClearListX as the unified digital infrastructure for all investment and fund administration services.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Secondaries Investment service that enables sophisticated accredited investors to explore exclusive opportunities and directly invest in private securities on the secondary market through the ClearList ATS and broker-dealer infrastructure.
• Proprietary Investment Funds Access to ClearList Capital's proprietary investment funds (including CLC AI LLC, CLC ALPHA LLC, and CLRS X LLC) tailored for sophisticated investors seeking diversified exposure in private markets, managed by an SEC-registered investment adviser.
• Co-Investments Service enabling qualified investors to participate alongside distinguished lead investors in co-investment opportunities, unlocking access to larger scale private market transactions.
• Tender Offer Assistance Expert guidance and execution support for seamless participation in tender offers involving private securities, leveraging ClearList's broker-dealer capabilities.
• Settlement Services Optimized same-day settlement service with pre-trade checks that promotes liquidity and minimizes transaction risk for private securities transactions.
• ClearListX Digital Platform Unified digital infrastructure platform providing single-point access to all ClearList investment opportunities and fund administration services for eligible investors.
• CLC AI LLC Fund Private pooled investment vehicle managed by ClearList Capital LLC offering qualified investors access to private securities opportunities.
• CLC ALPHA LLC Fund Private pooled investment vehicle managed by ClearList Capital LLC providing sophisticated investors exposure to private securities.
• CLRS X LLC Fund Private pooled investment vehicle managed by ClearList Capital LLC extending access to private securities opportunities for qualified purchasers.

Quantifiable outcome

• Same-day settlement process reduces transaction risk and enhances liquidity
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered minor.

• CSC Delaware Trust CompanyminorOthersQualified Custodian selected by ClearList Capital for all Fund Client accounts. Located at 251 Little Falls Drive, Wilmington DE 19808-1674. Provides quarterly qualified custodial reports directly to investors.
• Trellis Software Inc.minorOthersTechnology and operational support service provider contracted by ClearList. The relationship is mentioned in Terms of Use as one of several technology providers including Fundamental Interactions Inc. and Delio Ltd.
• Fundamental Interactions Inc.minorOthersTechnology and operational support service provider contracted by ClearList alongside other vendors including Delio Ltd. and Trellis Software Inc.
• Delio Ltd.minorOthersTechnology and operational support service provider contracted by ClearList alongside other vendors including Fundamental Interactions Inc. and Trellis Software Inc.
• Ascent Fund ServicesminorOthersTechnology and operational support service provider mentioned in Privacy Policy alongside WealthBlock Inc. and other financial service providers including ClearList LLC, ClearList Securities LLC, and ClearList Capital LLC.
• WealthBlock Inc.minorOthersTechnology and operational support service provider mentioned in Privacy Policy alongside Ascent Fund Services and other service providers.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Microventures: MicroVentures is a FINRA-registered broker-dealer offering private placements to accredited investors, paralleling ClearList Securities' private placement business.
• ClickIPO: ClickIPO provides online access to private placements and IPOs for self-directed accredited investors, offering an adjacent private-securities distribution model to ClearList Securities.
• EquityBee: EquityBee facilitates private company investment by funding employee stock option exercises for accredited investors, partially overlapping with ClearList's access-to-private-securities mission.

Direct peers

• Hiive: Hiive runs a private company secondary trading platform with structured auction-based liquidity for accredited investors and employees, directly overlapping ClearList's ATS-led secondary offering.
• EquityZen: EquityZen provides a marketplace for private company secondary investments, targeting accredited investors with a similar model to ClearList's direct secondaries offering.
• Forge Global: Forge Global operates a leading private company secondary marketplace and investment platform, directly competing with ClearList's ATS and direct secondaries business for accredited investor liquidity in pre-IPO shares.
• SharesPost: SharesPost (now part of Forge Global) historically provided a private company secondary marketplace, directly competing with ClearList's direct secondaries offering.
• Zanbato: Zanbato operates an ATS for private securities trading, providing an institutional-grade matching engine for secondary transactions — a close direct competitor to ClearList's ATS.

Broad incumbents

• Carta: Carta is a broad private-market infrastructure platform with cap table management, secondary trading, and fund administration — the fund administration piece directly parallels ClearList Capital's RIA operations.
• Nasdaq Private Market: Nasdaq Private Market (now part of Carta) provides technology and services for private company share trading, tender offers, and IPO transitions — overlapping with ClearList's tender offer assistance and ATS offerings as a broader incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors1 record

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 ClearList