Podcasts about secondmarket

In this special edition of The Distribution, host Brandon Sedloff sits down with Chris Tinsley and Rory Mabin of NASDAQ's fund secondaries business, recorded live from NASDAQ's Times Square studio.  The conversation unpacks the evolution of the fund secondaries market, highlighting how NASDAQ is bringing technology, transparency, and regulatory clarity to a historically opaque and manual process. Chris and Rory share how their unique professional journeys—from institutional investing to pioneering fintech—positioned them to rethink secondary liquidity in private markets.  They dive deep into the complexities of LP transactions, the origins of NASDAQ's platform, and the structural and regulatory innovations making scaled, GP-sponsored liquidity a reality today. They discuss: * How NASDAQ's acquisition of SecondMarket evolved into a fund secondaries platform * Why secondary LP transactions are more like M&A deals than stock trades * The value of “GP-sponsored” liquidity programs and how they differ from GP-led deals * How NASDAQ's Qualified Matching Service (QMS) helps GPs avoid tax complications while scaling liquidity * Why scalable technology and a growing buyer base—including family offices and institutional LPs—are reshaping the future of private market secondaries This episode is essential listening for GPs navigating LP liquidity needs or building next-gen fund structures in private markets. Links: Nasdaq Fund Secondaries - https://www.nasdaq.com/solutions/fund-secondaries Chris Tinsley on LinkedIn - https://www.linkedin.com/in/christoffertinsley/ Rory Mabin on LinkedIn - https://www.linkedin.com/in/rory-mabin-966a1333/ Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/ Juniper Square - https://www.junipersquare.com/ Topics: (00:00:00) - Intro (00:01:20) - Introducing Chris Tinsley and Rory Mabin (00:01:45) - NASDAQ's role in private market secondaries (00:02:09) - Chris Tinsley's journey to NASDAQ (00:03:55) - Rory Mabin's background in fund secondaries (00:05:04) - Understanding NASDAQ beyond the exchange (00:06:40) - The origin of NASDAQ's fund secondaries business (00:10:28) - Challenges in fund secondaries transactions (00:17:40) - The role of technology in streamlining processes (00:23:49) - Adapting to investor needs in private markets (00:27:26) - Enhanced liquidity options for limited partnerships (00:31:02) - Understanding Qualified Matching Service (QMS) (00:33:28) - Challenges and solutions in providing liquidity (00:36:52) - The role of technology in liquidity solutions (00:38:03) - Practical implementation of embedded liquidity (00:46:37) - The future of secondary markets and AI integration (00:50:02) - Conclusion and final thoughts

0:00 -- Intro.1:30 -- Start of interview.2:12 -- Barrett's "origin story".6:11 -- His start in finance. First in Stone & Youngberg then in Lehman Brothers in SF. His first secondary market transactions in private company stock (Facebook) in 2007.8:54-- His experience working at SVB (internship with wine finance team) and Lehman Brothers (business development).12:10 -- The early days of secondary market transactions for private company stock with SecondMarket, later acquired by Nasdaq in 2015 (now Nasdaq Private Market).14:25 -- His entrepreneurial stint as CEO of Juno Company, a children's educational media company.15:56 -- His VC stint as an advisor with Maveron.17:20 -- On the founding of his firm Scenic Advisement in 2013.18:12 -- History of investment banks in SF helping founders to get liquidity (the Four Horsemen of Silicon Valley's financial community: Alex.Brown, Hambrecht & Quist, Robertson Stephens & Co. and Montgomery Securities underwrote a large number of IPO offerings, both before and during the dotcom boom.)20:36 -- The ethos and vision behind Scenic Advisement. "The opportunity was to build a bank that really was the standard bearer, establishing best practices so that [institutional investors] had a counter-party or a middleman who could speak their language and conversely, the people building great companies had a partner who they could trust, because that partner had empathy: they were ex founders, ex VCs or from the community, not some transactional banker who lives 3,000 miles away and knows nothing of the company but knows that there is a big fee to be had and a league table to be on." "Our plan was to drive hard empathy."24:17 -- On the current state of private markets. "It's been a boom marked by irrational exuberance, and then a correction, as markets do." "But I can tell you, and I do so with great thanks, that the market is thawing and we are starting to see investors come back." "I could have taken all of 2022 off, and from a stress perspective, it would have probably been beneficial, but I just didn't have a crystal ball."27:42 -- On the regulation of unicorns and private markets generally. Going dark speech by SEC Commissioner Lee (Oct 2021).33:08 -- On the Stay Private for Longer ("SPL") advice in Silicon Valley ["The worst advice" per Gurley and Rabois]. "Companies now stay private long. That's it. This is not a trend, it is a market reality at this point." "It's also totally business dependent."37:52 -- The opportunities and challenges for founders, investors and employees in private markets. "The Sequoia move to an evergreen fund structure is a brilliant idea." "The Stripe multi-billion financing was the company being really proactive to options expiry, to ensure that the most important asset at Stripe, the people, are made whole or don't loose the benefit of the bargain (that would be awful for everyone and for morale)." "We are going to see more and more of that." 39:39 -- How companies treat employees vs ex-employees on stock options: "It varies from company to company and from founder to founder. My advice typically is to be egalitarian."41:21 -- On regional differences in tech ecosystems in the US.43:47 -- The impact of the collapse of SVB and First Republic in the SF/Bay Area tech ecosytem. "I believe in diversification. I believe in selling early and often. I want to implore founders and investors to take chips off the table when you can, because you can't always and things go away. People forget that."47:40 -- Thoughts on crypto and digital assets market.49:17 -- Thoughts on Artificial Intelligence (AI) market. "It's the next major wave. Unlike crypto and digital assets, this is not a fad."51:05 --  The books that have greatly influenced his life: Everything by Philip Roth.Exodus, by Leon Uris (1958)Everything is Illuminated, by Jonathan Safran Foer (2002)51:38 -- His mentors, and what he learned from them: the most impactful mentor for him has been his mother.52:58 --  Quotes he thinks of often or lives his life by: "Have hard conversations early and often." "Empathy is a very important tool even when delivering difficult messages."53:25 --   An unusual habit or an absurd thing that he loves: sneaker collection and tequila ("it's like love in a bottle").58:14 --   The person he most admires: entrepreneurs.Barrett Cohn is the CEO and co-founder of Scenic Advisement, a San Francisco based investment bank specializing in servicing the liquidity needs of high growth, late-stage technology companies, their investors, and founders. __ You can follow Evan on social media at:Twitter: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

On today's episode, I'm joined by Joe Cianciolo, Founder & CEO of HomePace.HomePace's mission is to enable homeowners to gain financial flexibility. They do this by allowing homeowners  to unlock the equity in their homes.HomePace's innovation gives homeowners more financial freedom without taking on more debt and gives institutional investors access to the real estate asset class.Joe and I talked about where the HomePace idea originated from, his time at SecondMarket and FutureAdvisor, the typical use of funds through this transaction, how the overall real estate market impacts their business, playing football at Penn State, raising capital, and much more.If you want to sponsor an episode, come on as a guest, or sponsor one of our many digital or in-person offerings, please reach out anytime at todd@fintechnexus.com.Without further ado, Joe Cianciolo, Founder & CEO of HomePace.. I hope you enjoy the show.Episode highlights include:Joe's journey to HomePaceLesson's learned from FutureAdvisor & BlackRockHomePace's modelCorrelation to the broader housing marketsEquity v. DebtThe education gap for equity housing transactionsRaising CapitalHis time playing football at Penn StateRecommend reading for kids: Charlie and the Chocolate Factory by Ronald DahlRecommend reading for founders: Moneyball by Michael LewisAnd much more…Connect with Joe on LinkedInConnect with PitchIt:Tweet me @ToddFintechConnect with me on LinkedInFind previous PitchIt episodesEmail me at todd@fintechnexus.comUntil next time.

On today's episode, I'm joined by Joe Cianciolo, Founder & CEO of HomePace.HomePace's mission is to enable homeowners gain financial flexibility. They do this by allowing homeowners to unlock the equity in their homes.HomePace's innovation gives homeowners more financial freedom without taking on more debt and gives institutional investors access to the real estate asset class.Joe and I talked about where the HomePace idea originated from, his time at SecondMarket and FutureAdvisor, the typical use of funds through this transaction, how the overall real estate market impacts their business, playing football at Penn State, raising capital, and much more.If you want to sponsor an episode, come on as a guest, or sponsor one of our many digital or in-person offerings, please reach out anytime at todd@fintechnexus.com.Without further ado, Joe Cianciolo, Founder & CEO of HomePace.. I hope you enjoy the show.Episode highlights include:Joe's journey to HomePaceLesson's learned from FutureAdvisor & BlackRockHomePace's modelCorrelation to the broader housing marketsEquity v. DebtThe education gap for equity housing transactionsRaising CapitalHis time playing football at Penn StateRecommend reading for kids: Charlie and the Chocolate Factory by Ronald DahlRecommend reading for founders: Moneyball by Michael LewisAnd much more…Connect with Joe on LinkedInConnect with PitchIt: Tweet me @ToddFintech Connect with me on LinkedIn Find previous PitchIt episodes Email me at todd@fintechnexus.com Until next time.

0:00 Intro.1:45 Start of interview.2:40 Annemarie's "origin story". She was born and raised in New Jersey. She went to the University of Delaware and later to the Catholic University of America Columbus School of Law. She got her first job at the SEC (Corp Fin) right out of law school. She spent 6 years at the SEC, 5 of them focused on international corporate finance (bringing international companies into the US securities market). Linda Quinn (ex director of Corp Fin) called it her "Chamber of Commerce." Her team's job "was to make it as easy as possible for large international companies to list in the U.S." Reg 144A, Reg S.6:07 Her time at Skadden Arps (1996-2002). She spent 5 years at the Skadden London office, 1 year in the NY office.8:16 Her transition to the New York Stock Exchange as Assistant GC (2002-2008).10:17 Her time at NYFIX as GC from 2008-2010, before it got acquired.11:50 Her role at SecondMarket as EVP Legal, GC and Corporate Secretary (2010-2015). The firm was founded by Barry Silbert and was a pioneer on secondary markets for private shares (now Digital Currency Group).17:29 Her time at Nasdaq Private Market as VP, Head of Strategy and New Markets (2015-2018). 22:27 Thoughts on carve-outs (liquidity) for founders in venture rounds (pre-exit). SecondMarket's role in helping expand the shareholder threshold from 500 to 2000 shareholders (Jobs Act, 2012) allowing private companies to stay private for longer.26:30 Her time at Templum (a registered broker dealer/alternative trading system approved to conduct primary offerings and secondary trading in unregistered digital securities) as chief strategy officer and GC (2018-2019).28:23 About her firm Liquid Advisors, a strategic advisory firm offering private placement and secondary liquidity structuring and regulatory requirement services, including for digital or token-based securities. "I'm an accidental entrepreneur."32:30 On regulation of private markets, and her response to SEC Commissioner Allison Herren Lee "Going Dark" concerns. The challenging conditions for U.S. public companies (costs of being public vs benefits of staying private).38:00 Her thoughts on the market down cycle, including the SPAC situation.42:07 Her take on blockchain and crypto. SecondMarket started trading BTC in 2012-2013. "Blockchain provides a record-keeping that is immutable." SecondMarket created a Bitcoin Investment Trust. "I'm a huge supporter of blockchain/crypto." "I've been through so many ups and downs of the [BTC] price that I don't get fazed by it anymore." "It's the best performing asset class in the last 10 years, I don't think people can keep ignoring it."51:28 Her thoughts on the regulation of crypto (President Biden's Executive Order, Governor Newsom's Executive Order). "The market has been begging for clear crypto regulations for some time." "Some states have stepped up where federal regulators have been unwilling to state how to bank or regulate these assets." Crypto friendly environments like Wyoming or Miami. 55:24 The 3 books that have greatly influenced her life:The Hobbit, by J.R.R Tolking (1937)The Lord of the Rings, by J.R.R Tolking (1954)The Harry Potter books, by J.K. Rowling (1997-2007)55:25- Who were your mentors, and what did you learn from them?  Richard Koznik, ex Associate Director, Division of Corporation Finance at the SEC.Paul Dudek, also formerly from the SEC.Georges Ugeux, formerly from NYSE.Former SEC Commissioner Richard Roberts (former director of NYFIX).56:24 - Are there any quotes you think of often or live your life by? "Nothing to be afraid of if you jump off a cliff as long as you know that you have a safety net."57:09- An unusual habit or an absurd thing that he loves: Travel junkie! Her goal is to make it to 193 U.N. countries.01:00:09 - The living person she most admires: her mom.Annemarie Tierney is the Founder and Principal of Liquid Advisors. She is a seasoned financial services lawyer/strategist with substantial SEC, law firm, and in-house legal experience, as well as experienced in broker dealer regulation, blockchain legal and regulatory issues, securities transactional work, SEC rules and regulations, corporate governance, and international expansion. __ You can follow Evan on social media at:Twitter: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License 

Stephan Paternot is Co-Founder & Executive Chairman of Slated, the leading online film packaging, financing, and distribution marketplace, supplying the exploding global demand for great content. In 2004, Stephan co-founded PalmStar, a film production and financing company that has produced and financed over 30 films including Hereditary (2018), Collateral Beauty (2016), Sing Street (2016) and John Wick (2014). Stephan is also the founder and general partner of the Actarus Funds. Founded in 2002, these angel funds have backed such companies as LendingClub, SecondMarket, Indiegogo, AngelList, Digital Currency Group, and many more. Prior to these ventures, Paternot is best known for co-founding one of the first Internet community sites, theglobe.com, in 1994. The company set stock market history when it went public in 1998 with a record-setting IPO, pushing the company valuation to over $1 billion. Over a six-year span, the company grew to over 300 employees, and the website became one of the top thirty most trafficked sites in the world. In 1999 Stephan won the Ernst & Young Entrepreneur of the Year Award and in 2001 published his memoir, A Very Public Offering, detailing his experience at theglobe.com. A Very Public Offering was updated and reissued in 2018 in conjunction with the worldwide release of the National Geographic Television series Valley of the Boom, in which Paternot is featured as a character.

Intro.(1:22) - Start of interview.(1:51) - Jeff's "origin story". He grew up in Dayton, Ohio. He went to Carnegie Mellon University for undergrad "to study engineering and play football." He graduated with electrical and computer engineering degrees, and took off to Silicon Valley. He first worked in the semiconductor industry with Altera. He later got into financial services, first with Gehrson Lehrman Group, then with SecondMarket (early player in the secondary markets for private shares, later acquired by Nasdaq) and Owler (crowdsourcing data on private companies). He joined Nasdaq in 2014 to help launch the Nasdaq Private Market. In 2016 he got promoted to run the listings team for Nasdaq in the west coast.(4:39) - Jeff's take on Nasdaq's role and vision: "In the last 5-6 years our approach has been to create a lifecycle approach to supporting our corporate clients: 1) Nasdaq Entrepreneurial Center (early stage), 2) Nasdaq Private Market (as companies scale and need to provide liquidity to their shareholders), 3) Listings Business (for companies going public), 4) Once companies are public, we offer a number of products and services to empower their IR, corporate governance and ESG disclosure practices." Beyond this work with corporate clients, Nasdaq also operates exchanges in the US and EU, it has an investment intelligence business (indexes, sell market data) and it's a technology provider to capital markets (including market surveillance technology, AML/KYC solutions, and others).(7:38) - Jeff's take on growth of IPOs during the pandemic (~250 operating companies have gone public in Nasdaq this year) and SPACs (there have been 495 IPOs in 2021 raising ~$138bn). "As a private company you've never had more options and better access to capital and liquidity." Private companies can raise: 1) Late stage venture capital rounds ("there seems to be $100m rounds everyday"), 2) IPOs, 3) SPACs and 4) Direct listings.(10:13) - His take on the impact of government actions on the economy (and how they impact markets). The acceleration of digital transformation during COVID-19.(12:39) - His take on the Nasdaq Private Market (facilitated ~$36 billion in transaction volume for ~500+ private companies) and why they decided to spin-off NPM as s stand-alone company, receiving investments from a group of banks including Citigroup, Goldman Sachs, Morgan Stanley, and SVB Financial Group.(16:05) - The "stay private or go public" decision per Jeff: "It all boils down to the company's goals and objectives in different phases of its lifecycle." Companies go public for a variety of reasons, but some of the primary ones are: 1) to raise capital, 2) to provide liquidity, 3) brand enhancement (prestige) of being a  public company, and 4) to leverage its equity as an acquisition currency.(18:53) - His take on regulatory pressures on private markets (particularly from the SEC, as explained by Commissioner Lee's speech on "Going Dark" and problematic aspects of private markets).(23:24) - On the rise of retail investing and "meme stocks". Zero commissions took down the cost of trading, it made trading more accessible to people. The advent and impact of social media (from social message boards to Reddit). The dissemination of information has changed the nature of trading. The SEC report on equity and options market structure conditions (October 2021).(26:08) - On growth of ESG. "It all starts with the generational shift that is going on, from Baby Boomers to Millennials." "The new generation thinks beyond the bottom line." "People and investors are focusing on non-financial metrics for public companies (more and better disclosures)."(29:52) - History and nature of Nasdaq's Boardroom Diversity Rule (approved by the SEC on August 6, 2021). Standard disclosure matrix and minimum diversity standards (gender and minorities) with long phaseout periods. "We received 200+ comment letters to the rule, 80% was positive. From the 20% that was negative comments, 10% said that we shouldn't implement the rule, and the other 10% said we didn't go far enough."(34:10) - His take on crypto and blockchain technology. "We were thrilled to welcome Coinbase to Nasdaq via their direct listing." "It's really an interesting and dynamic time for the crypto markets." "It's still early innings in terms of the regulatory framework (from SEC and CFTC)." (36:16) - His favorite books:How to Win Friends and Influence People by Dale Carnegie (1936)Genius Makers by Cade Metz (2021)(37:05) - His mentor Bruce Aust (retired Vice Chairman of Nasdaq)(38:29) - On Nasdaq's approach to technology in the boardroom: their board portal Nasdaq Boardvantage, critical for security. The Nasdaq Center for Board Excellence "offers the latest governance insights and actionable intelligence for board members and executives (board evaluations and questionnaires". The topic of ESG is very relevant for boards, and they have an advisory team that consults with boards on ESG, Nasdaq OneReport (to simplify the process of ESG data capture, engagement, oversight, and disclosure).(40:05) - An unusual or absurd habit that he loves: From the book Extreme Ownership (Jocko Willing and Leif Babin): "The first thing I do in the morning is to make my bed." This way everyday you start by accomplishing something.Jeff Thomas is a Senior Vice President of Nasdaq's Corporate Services business unit. Based in San Francisco, Jeff oversees Nasdaq's new Listings and Capital Markets businesses. He also oversees business development and relationship management for Nasdaq's listed companies and Investor Relations Solutions' clients in the Western United States. Previously, he served as President of Liquidity Solutions at Nasdaq Private Market, where he worked closely with private companies to help them provide shareholder liquidity prior to an IPO. If you like this show, please consider subscribing, leaving a review or sharing this podcast on social media. __ You can follow Evan on social media at:Twitter @evanepsteinLinkedIn https://www.linkedin.com/in/epsteinevan/ Substack https://evanepstein.substack.com/Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Are differing US municipal codes causing fragmentation challenges and thus preventing broader proptech adoption? Why isn't the home a more integral part of the financial advisor planning process? What causes people to talk about homeownership as a financial investment but in reality don't treat it as a financial investment? Why is financial flexibility so important for homeowners? Joe Cianciolo - Co-Founder & CEO of HomePace, joins Proptech Espresso to answer these questions and much more.Joe Cianciolo is co-founder and CEO of HomePace, Inc.  HomePace enables consumers to achieve their financial goals by providing them to access their home equity without taking on additional debt or interest.Prior to founding HomePace, Joe was Head of Business Development at Unison.Joe was previously an executive at FutureAdvisor where he joined as its fifth employee and first non-engineering hire.  As Head of Sales & Business Development, he was responsible for creating and leading client acquisition and revenue-generating functions at FutureAdvisor, driving the firm's growth in assets under management from less than $10 million to over $1 billion in less than 3 years.  Following FutureAdvisor's acquisition by BlackRock, Joe led commercial strategy and distribution for BlackRock's Digital Wealth Technology platform.  Joe began his career as an investment banker at Thomas Weisel Partners and also previously led business development efforts at financial technology company SecondMarket (acquired by Nasdaq). Joe graduated from Pennsylvania State University with both a Bachelors in Economics and an MBA.  He currently lives in the Raleigh, North Carolina area with his wife Sarah and their son and daughter.

Launching a large-scale, multi-media platform focused on making entrepreneurship the next spectator sport, while simultaneously democratizing private markets is an audacious mission.Our guest, Mona DeFrawi, is the ideal founder for this initiative. She’s a serial entrepreneur who has been a team member of 10 startups over three decades, the last four as Founder & CEO.Mona pioneered the first Private Market platform, which initiated the "Unicorn" investing trend in Silicon Valley (acquired by SecondMarket and further acquired by the NASDAQ Private Markets).Over her career, Mona has raised or participated in the placement of over $6 Billion+ of VC, PE and LP funding. Mona has been recognized as one of Forbes' "Most Powerful Women in Technology," and as one of the "Top 100 Women in Fintech.”Mona took her vision of democratizing the Private Markets and created Radivision, a platform that connects consumer audiences with the startup ecosystem, to make entrepreneurship the next spectator sport.You will LOVE meeting this extraordinary visionary, she has THE BEST startup stories (for example: 4 IPOs + 3 children in 10 years!), and your jaw will drop when you see how Femtech Founder is building a multi-media platform and a fintech platform, simultaneously.Visit https://radivision.com/ to learn more and, if you're a founder, get featured on the platform's Visionary Series!Follow Radivision and Mona on social media here:LinkedIn: https://www.linkedin.com/in/monadefrawi/ and https://www.linkedin.com/company/radi...Twitter: https://twitter.com/MonaDeFrawi and https://twitter.com/RadivisionTVInstagram: https://www.instagram.com/radivision/Here are the highlights from our delicious conversation:00:00 - Meet Mona!09:30 - Mona's origin story21:00 - When Mona was called to fix the IPO crises in Silicon Valley - and how she fixed it!23:00 - Mona takes us to school: Private Markets; historical and current investor conditions; why democratizing Private Markets is important to the SEC35:30 - Mona shares Radivision's launch story39:40 - A taste of the outstanding and entertaining content you can find on Radivision45:25 - How Mona proved Radivision's Value Prop 51:50 - Radivision's FinTech side of the business1:06:28 - Mona's Founder Journey Advice1:10:33 - Mona's Humanitarian mission1:11:35 - Stitch that on a Pillow Moment! "It's going to be better tomorrow." "Don't run from the problems." And my fave: "I credit yoga to my success!"Thank you carving out time to improve your Founder Game - when you do better, your business will do better - cheers!Ande Lyonshttp://andelyons.comJOIN STARTUP LIFE LIVE MEETUP GROUPGet an alert whenever I post a new show!https://bit.ly/StartupLifeLIVEAGORAPULSEMy favorite digital marketing dashboard is AGORAPULSE – it’s the best platform to manage your social media posts and presence! Learn more here: http://www.agorapulse.com?via=ande17STREAMYARD OVERLAYS AND GRAPHIC DESIGNNicky Pasquierhttps://www.virtuosoassistant.co.uk/GET VIDEO/AUDIO TRANSCRIBED WITH OTTER.AIhttps://bit.ly/StartupLifeOtter CONNECT WITH ME ONLINE: https://andelyons.com https://twitter.com/AndeLyonshttps://www.facebook.com/StartupLifew... https://www.linkedin.com/in/andelyons/ https://www.instagram.com/ande_lyons/ https://www.pinterest.com/andelyons/ https://angel.co/andelyons TikTok: @andelyons

Adriana Gascoigne is the Founder and CEO of Girls in Tech, a San Francisco-based non-profit organization devoted to empowering, educating and engaging women in the tech industry across 47 chapters in 33 countries. No stranger to growing brands and building amazing companies, Adriana has worked with tech companies like Indiegogo, Oracle’s Involver, and Change.org. She has also served in executive roles at Ogilvy & Mather, Interpublic Group of Companies, Social Gaming Network (SGN), and SecondMarket. Adriana holds a bachelor’s degree in Sociology with a concentration in Organizational Studies from the University of California at Davis, and received a certification from El Tecnologico de Monterrey in Aguascalientes, Mexico. She is a Singularity University Impact Fellow Scholarship Recipient, was named one of the 20 most influential Latinos in technology in 2018 by CNET and 2018 Pioneer Leadership Award winner at the Silicon Valley Latino Leadership Summit. Adriana is also author the author of Tech Boss Lady: https://www.amazon.com/Tech-Boss-Lady-Start-up-Disrupt-ebook/dp/B07J5X8P3B https://girlsintech.org/

On today's show, we chat with Jeff Thomas, a Senior Vice President of Nasdaq's Corporate Services business unit. Based in San Francisco, Jeff oversees Nasdaq's new Listings and Capital Markets businesses. He also oversees business development and relationship management for Nasdaq's listed companies and Investor Relations Solutions' clients in the Western United States.  Previously, he served as President of Liquidity Solutions at Nasdaq Private Market, where he worked closely with private companies to help them provide shareholder liquidity prior to an IPO.  Prior to joining Nasdaq in 2014, Jeff held senior positions at SecondMarket, Gerson Lehrman Group and Altera Corp. He holds a bachelor's degree in Electrical & Computer Engineering from Carnegie Mellon University in Pittsburgh, Pa. He sits on the Board of Directors of the Silicon Valley Leadership Group.   In this episode, you'll learn: What is the investment community saying about the IPOs of 2019? What is a direct listing, and is it different than a traditional IPO? Environmental, Social, and Governance (ESG). What is this trend so many are talking about? What emerging technology is Nasdaq implementing?    Help us out! Help us reach new listeners by leaving us a rating and review! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!   Guest: Nasdaq website Jeff Thomas' LinkedIn   CONNECT WITH SHAWN: https://linktr.ee/ShawnflynnSV   Shawn Flynn's Twitter Account Shawn Flynn's LinkedIn Account Silicon Valley LinkedIn Group Account Shawn Flynn's Facebook Account Change to Shawn@thesiliconvalleypodcast.com    

On today’s show, we chat with Jeff Thomas, a Senior Vice President of Nasdaq’s Corporate Services business unit. Based in San Francisco, Jeff oversees Nasdaq’s new Listings and Capital Markets businesses. He also oversees business development and relationship management for Nasdaq’s listed companies and Investor Relations Solutions' clients in the Western United States. Previously, he served as President of Liquidity Solutions at Nasdaq Private Market, where he worked closely with private companies to help them provide shareholder liquidity prior to an IPO. Prior to joining Nasdaq in 2014, Jeff held senior positions at SecondMarket, Gerson Lehrman Group and Altera Corp. He holds a bachelor's degree in Electrical & Computer Engineering from Carnegie Mellon University in Pittsburgh, Pa. He sits on the Board of Directors of the Silicon Valley Leadership Group.In this episode, you’ll learn:What is the investment community saying about the IPOs of 2019?What is a direct listing, and is it different than a traditional IPO?Environmental, Social, and Governance (ESG). What is this trend so many are talking about?What emerging technology is Nasdaq implementing? Help us out!Help us reach new listeners by leaving us a rating and review! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Tweet your comments about this episode directly to Shawn Flynn and the rest of The Investor’s Podcast Community using #TIPSiliconValley.BOOKS AND RESOURCESNasdaq websiteJeff Thomas’ LinkedInDownload your free audiobook at Audible.Find the best job candidate at Ziprecruiter.Capital One.This is Banking Reimagined.GET IN TOUCH WITH SHAWNShawn Flynn’s Twitter AccountShawn Flynn’s LinkedIn AccountSilicon Valley LinkedIn Group AccountShawn Flynn’s Facebook AccountEmail: Shawn@TheInvestorsPodcast.com

Adriana is the Founder and CEO of Girls in Tech, a San Francisco-based non-profit organization that empowers women in the tech industry across the globe. Before founding Girls in Tech, Adriana served in executive roles at Ogilvy & Mather, Interpublic Group of Companies, Social Gaming Network (SGN), and SecondMarket. She has been named one of the 20 most influential Latinos in Technology by CNET, among other awards. She is author of the book Tech Boss Lady: How to Startup, Disrupt and Thrive as a Female Founder. In this episode, Adriana charts the influence her immigrant grandparents, and entrepreneurial parents had on her. She shares her early experience with Silicon Valley’s unwelcoming male culture, and how she came to create the global enterprise that is Girls in Tech. She discusses how sexual harassment in Silicon Valley has – and hasn’t – changed. From roller skating to balling up stress like a travel t-shirt – this episode has a bit of everything. Girls in Tech https://girlsintech.org Something Ventured:  something ventured.us

Adriana is the Founder and CEO of Girls in Tech, a San Francisco-based non-profit organization devoted to empowering, educating and engaging women in the tech industry across 60 chapters in 36 countries. No stranger to growing brands and building amazing companies, Adriana has worked with tech companies like Indiegogo, Oracle’s Involver, and Change.org. She has also served in executive roles at Ogilvy & Mather, Interpublic Group of Companies, Social Gaming Network (SGN), and SecondMarket. Adriana holds a bachelor’s degree in Sociology with a concentration in Organizational Studies from the University of California at Davis, and received a certification from El Tecnologico de Monterrey in Aguascalientes, Mexico. She is a Singular University Impact Fellow Scholarship Recipient, was named one of the 20 most influential Latinos in technology in 2018 by CNET and 2018 Pioneer Leadership Award winner at the Silicon Valley Latino Leadership Summit. Main Topics: The Problem: Women in Tech Creating a Global Community Teaching & Building Curriculum Mentioned in this Episode:   Girls In Tech "The Power of Compassion" by Dalai Lama Contact Adriana

Everyone thinks Mark Zuckerberg and Facebook gave birth to social media in 2004, but that isn't true. Before there was Facebook there was theglobe.com – the first-ever social networking site, created by 2 guys at the birth of the dot-com era, Stephan Paternot and Todd Krizelman. They launched it from their college dorm room at Cornell, and after a meteoric rise, theglobe.com became world-famous for its billion-dollar IPO in 1998. Over a six-year span, the company grew to over 300 employees, and the website became one of the top thirty most trafficked sites in the world. Only to quickly plummet toward the depths.Today, Stephan Paternot is co-founder & CEO of Slated, the world’s first online film finance marketplace. Powered by machine-learning analytics, over 1,400 listed films have received over $1.4 billion in investor introductions as of 2018. Over half of 2018’s Sundance Film Festival selections and Oscar nominated films were made by Slated members in producing, directing, and writing roles. In 2004, Stephan co-founded PalmStar, a film production and financing company that has produced and financed over 30 films including Hereditary (2018), Collateral Beauty (2016), Sing Street (2016) and John Wick (2014). Stephan is also the founder and general partner of the Actarus Funds. Founded in 2002, these angel funds have backed such companies as LendingClub, SecondMarket, Indiegogo, AngelList, Digital Currency Group, and many more.Stephan joins ONE37pm Strength Editor Corban Goble to discuss his amazing story and the re-release and updated version of his memoir, A Very Public Offering, detailing his experience at theglobe.com. A Very Public Offering was updated and reissued in 2018 in conjunction with the worldwide release of the National Geographic Television series Valley of the Boom, in which Stepgen is featured as a character, due out January 2019. Plus, his thoughts on what the next generation of innovators need to know and his current work with Slated.

Bobby Cho is the global head of trading at Cumberland—which is the crypto arm of Chicago trading firm, DRW and it’s one of the largest liquidity providers in the space. Prior to this, Bobby was director of trading at itBit and vice president of trading at Digital Currency Group (formerly known as SecondMarket). After featuring on the podcast in August last year, I thought it would be fitting to check in with Bobby again, because of the events which have unfolded in cryptocurrency markets over the past 12 months… Our conversation begins with some of the highlights from the recent Cumberland Summit—which was an industry event for insiders, and Cumberland’s international expansion. Then we get into Bitcoin’s sudden rise and decline from $20k, whether or not crypto markets have matured, decentralised exchanges, crypto’s value and use cases, institutional involvement and the bigger picture moving forward.

Micheal Moro is the CEO of Genesis Trading, a FINRA registered broker dealer providing liquidity for institutions in the crypto space.  Michael previously worked at SecondMarket and Citi.  In this conversation, Anthony and Michael cover crypto market infrastrucutre, how Genesis grew so quickly, what OTC trading is, and when institutional money will enter the market. 

Today’s Coin Gamma Podcast guest is Michael Moro, CEO of Genesis Trading and Genesis Capital. Genesis is an over the counter (OTC) digital currency trading platform for institutional buyers and sellers, and also high net worth individuals. They make buying and selling large blocks of digital currency a simple, secure and supportive process. They offer deep pools of liquidity, 24/7 trading, and same-day settlement since the company’s inception. Prior to Genesis, Michael worked at CitiGroup as well as SecondMarket, Inc.  Listen in on our awesome convo on his journey into crypto, his current leading role in the space, and what is keeping institutional capital from coming into the digital asset space. This podcast is brought to by....… Coin Gamma. If you are looking for help with your blockchain strategy, need blockchain engineering help to create a dapp, or want help growth hacking your blockchain related business (STO or ICO included), get in touch: fritz@coingamma.com Show notes 01:11 - Michael Moro intro 02:09 - What SecondMarket, Inc. did, and transitioning from SecondMarket, Inc. into trading crypto. 03:19 - Michael discovering Bitcoin. 03:45 - Trading derivatives at SecondMarket, Inc. 03:57 - Genesis Trading's focus on institutions. 05:17 - Michael's view on the growth and speculated future growth of institutional interest in crypto. 06:12 - What has kept institutions away from crypto. 08:25 - Genesis Trading's post-trade settlement basis during trades. 09:36 - Genesis Trading's client base. 10:17 - East-Asia based crypto markets Vs US-based crypto markets in terms of advanced trading. 11:35 - Genesis Capital: The lending service of Genesis Trading. 13:17 - Coming up with the borrow rates. 15:05 - The impact of the introduction of Bitcoin futures. 17:22 - The potential expansion of futures to other underlying assets. 18:18 - How Genesis Trading chooses what clients to support 20:12 - Other projects that Michael finds interesting.   Connect with Michael and Genesis Trading Genesis Trading Website: www.genesistrading.com Genesis Twitter: @GenesisTrading Michael’s Twitter: @michaelmoro Connect with Coin Gamma Website: www.coingamma.com Twitter:  @coingamma

Bobby Cho is a cryptocurrency trader at Cumberland Mining—which is a company of DRW Trading. Ever since getting involved in financial markets, during 2008, he has gravitated towards mostly illiquid/difficult-to-trade products… So, in some ways, it was inevitable that Bobby would begin to explore Bitcoin and other cryptocurrencies. This was around 2013, while Vice President at SecondMarket. In 2014, Bobby became Director at Bitcoin exchange, itBit, and then in 2016, joined Cumberland Mining—one of the largest institutional liquidity providers in cryptocurrency markets (predominately Bitcoin and Ethereum). During the episode, Bobby and I got speaking about some pretty interesting topics, which ranged from; the infrastructure of crypto markets to the curiosity and entrepreneurial mindset which powers DRW, and the challenges of exchange arbitrage to the real world value of Blockchain technology.

Welcome to our first conversation with an innovator in small business lending – my guest is Sam Hodges, Co-founder and U.S. Managing Director of Funding Circle. Funding Circle was founded in 2012 and is the world’s leading marketplace lender that’s exclusively focused on small businesses. It has made more than $2.5 billion in loans to 20,000 businesses in the U.S., Germany, Spain, the Netherlands and the UK (where it is based). It customers borrow directly from a wide range of investors, including more than 50,000 people, the UK Government, and divers entities like local councils, a university and various financial organizations. Funding Circle was created because the founders were small business owners themselves and learned how hard it is to access finance, even for a successful business. Even when a loan was approved, they found the process difficult, or the terms unattractive. Sometimes they even felt misled. After opening their 96th loan rejection letter, they decided this was a systemic failure – that the traditional bank loan system was broken – and they set out to build a new solution. The financial crisis created fertile ground for them, as so many business suddenly had trouble accessing capital (the number of small businesses has dropped every year for the past 8-10 years). And their timing fit with the emergence of marketplace lending as a new model. As Funding Circle’s Co–Founder and U.S. Managing Director, Sam oversees the company’s overall strategic direction and its day–to–day operation in the U.S. He was previously Vice President of Business Development at SecondMarket, the leading marketplace for alternative investments, where he was responsible for corporate and business development and the company’s geographic expansion efforts. Sam was also part of the investment team at Pequot Capital, an $8 billion global fund manager, covering investments in financial technology and information services. He started  his career as a strategy consultant at Katzenbach Partners, advising financial services and technology companies. He currently serves on the boards of two private companies. He received his MBA and MS from Stanford University and graduated magna cum laude from Brown University. Sam points to three key Funding Circle innovations: One is delivering a superior borrower experience. They can on-board and evaluate customers sometimes in minutes, or a few days, for situations where a bank might need 30 man-hours to reach a decision. Second, they’ve re-architected how they do credit evaluation. Sam says it’s not a silver bullet, but they’ve have created their own rigorous data-driven approach to understanding risk, and they’re using new data, in new ways, to serve more borrowers. And third, he argues that the marketplace model can be more scalable and profitable than the traditional bank approach, enabling them to grow a global business. In our conversation, Sam expresses his continued confidence in the marketplace model. He discusses Funding Circle’s risk analytics (he says they hire world class risk officers from world-class institutions). He explains the role of alternative data in driving more sound and inclusive lending. I was especially interested in how Sam contrasts the U.S. regulatory model with the U.K.’s efforts, especially on P2P lending. He thinks the fragmented American structure makes innovation here difficult. He also has suggestions for regulatory innovation, including sandboxes and a graduated scale of coverage that would allow small innovators to get up and running more easily.  He emphasizes the need for interagency coordination and consistency. He says transparency needs to undergird the whole industry, and that requires smart, sound regulation that everyone understands. (To listen to our previous episode about the “Regulatory Sandbox” with Nitish Pandey of BMO, click here.) Sam welcomes smart customer protection regulation – he discusses his involvement in creating the Small Business Borrower’s Bill of Rights we discussed in an earlier episode with Brian Graham of BancAlliance.  See also this Harvard research paper by former Small Business Administration head Karen Mills on small business lending. I hear increasing discussion about more regulation of small business lending. It’s partly because the online lenders are transforming the market, and partly because the “1099 economy” is producing more little businesses that arguably are functionally-equivalent to consumer borrowers.  The sector is covered by some of the federal laws on consumer protection, but not by most of them.  My own view is that regulation will probably need to come, but that we should NOT transplant the existing consumer protection rules into it without first updating them for the digital age. Speaking as someone who helped develop some of these rules, I will say they have a mixed record, at best, of protecting consumers. And complying with them costs a fortune. If we’re going to bring new regulation into the small business sector, let’s use the chance to take a fresh look, and apply some RegTech thinking. Other notes: Newsletter: I also want to share an announcement -- this month we’re launching a newsletter. It will be pithy and punchy and useful, highlighting the most interesting things that have happened, the most exciting things coming up. It will be a way to share some of the fascinating things I’ve been getting involved with. One example is that, this summer, I joined the Netherlands’ Queen Maxima (who leads the UN’s work on global financial inclusion) on her trip to Silicon Valley. Another is that I just returned from a week in Fiji at the global policy forum of the Alliance for Financial Inclusion, which represents the financial regulators of more than 90 countries in the developing world. I’m also working on ideas for promoting regulatory sandboxes in the United States. And in November, I’ll be speaking in Singapore at Asia’s first RegTech conference. And I’m doing a lot of work on RegTech. In fact, in Fiji I heard a new term – “SuperTech.” It’s a branch of RegTech that means technology-driven solutions for bank supervision. The newsletter will share some of the intriguing things that are going on, outside our poccasts. Don’t forget: Remember to send in your “buck a show” to keep the podcasts coming Support the Podcast Remember to rate us on ITunes.    Coming guests: And look for some amazing guests coming up. We have none other than the leaders of Varo, Ripple, LendUp, and Loot (from London)! We have two amazing, mold-breaking innovators from the developing world – eCurrency and OneDollarCellPhone, as well as the head of AFI, the Alliance for Financial Inclusion. And back in the US, we’ll have the community bank perspective on innovation. But first, next up, we have Harvard professor and behavioral economics expert, Brigitte Madrian. So, enjoy my conversation with Funding Circle’s Sam Hodges … and come back soon! Subscribe Sign up with your email address to receive news and updates. Email Address Sign Up We respect your privacy. Thank you!

Adriana is the Founder and CEO of Girls in Tech, a San Francisco-based non-profit organization devoted to empowering, educating and mentoring women in the tech industry across over 60 chapters internationally. She is also a partner at Founders Den in the heart of San Francisco's SOMA district where Girls in Tech's offices are located.  No stranger to growing brands and building amazing companies, Adriana has also served in executive roles at RxMatch and QwikCart, Ogilvy & Mather and SecondMarket, the largest secondary trading platform, where she was responsible for branding strategy, event production and digital media efforts.  In addition to working with technology start-ups like Indiegogo, SGN, Algentis, Democracy.com, Swyft, ImpulseFlyer and GUBA, Adriana has served as a strategic advisor for companies like NexTravel, StartupStockExchange, Numiyo Technologies, Palindrome Advisors, CharityBlossom, DooChoo, and Change.org. She is also on the advisory boards for Nailbot, Cocoon Cam and Roost.  Adriana holds a bachelor’s degree in Sociology and Economics from the University of California at Davis, received a certification from El Tecnologico de Monterrey in Aguascalientes, Mexico, and participated in Semester at Sea, University of Pittsburgh in 1997. Adriana is also fluent in Spanish.

Join Accredited Investor Markets Radio's Christopher Cahill and Funding Circle's Sam Hodges in Episode 39. They discuss how peer-to-peer lending companies have addressed a gap in credit availability to small businesses, while presenting accredited and institutional investors with opportunities to select risk levels as well as types of portfolio diversification in taking slices of loans to small businesses.  The irony is that -- in light of P2P's growth -- banks are proposing to partner with P2P lenders, thus taking tentative steps back into the very lending space they vacated.   You can find out more about Sam Hodges and Funding Circle here. Or you can find them here: Twitter: @FundingCircleUS; @HodgesSam LinkedIn: Funding Circle; Sam Hodges Facebook     About Sam Hodges   As Co-Founder and U.S. Managing Director, Sam is responsible for overseeing the overall strategic direction and day-to-day operation of Funding Circle in the U.S.  Under his leadership, the U.S. business has grown exponentially since its foundation in 2012 and has emerged as the world’s largest online marketplace exclusively focused on small business loans. He co-founded the company after seeing how hard it was to get a loan for a small business, a successful gym franchise, he helped build.   Before co-founding Funding Circle, Sam served as Vice President of Business Development at SecondMarket, the leading marketplace for alternative investments. There, Sam was responsible for corporate and business development and the company's geographic expansion efforts. Sam was also part of the investment team at Pequot Capital, an $8 billion global fund manager, where he covered investments in financial technology and information services. He started his career as a strategy consultant at Katzenbach Partners, where he advised financial services and technology companies.   Sam currently serves on the boards of two private companies. He received his MBA and MS from Stanford University and graduated, magna cum laude, from Brown University.

SecondMarket is a private market place for buying and selling alternative assets including private company stock, bankruptcy claims, and restricted public stock. If you are an investor in a startup or an employee who wants to sell your company’s stock before the IPO, SecondMarket facilities this transaction. Companies trading on the SecondMarket exchange have included […]

This week, Aaron Herman had the opportunity to visit New York Tech Day. NY Tech Day is a “science fair” for tech startups to showcase their companies to the public, investors and press. Many of the most prominent NY Tech startups attended including tumblr, Meetup, SecondMarket, Boxee, and Knewton. The event will also showcase newbies such as SpaceSplitter, Digital Ocean, Unroll.me and Songza. In addition, more than 35 notable VC firms attended, including Spark Capital, Greycroft Partners and Lerer Ventures.

This week, Aaron Herman had the opportunity to visit New York Tech Day. NY Tech Day is a “science fair” for tech startups to showcase their companies to the public, investors and press. Many of the most prominent NY Tech startups attended including tumblr, Meetup, SecondMarket, Boxee, and Knewton. The event will also showcase newbies such as SpaceSplitter, Digital Ocean, Unroll.me and Songza. In addition, more than 35 notable VC firms attended, including Spark Capital, Greycroft Partners and Lerer Ventures.

Barry Silbert, Founder and CEO of SecondMarket, talks about public markets, the history of SecondMarket, and the his vision for markets and trading in the future. (April 13, 2011)

SecondMarket founder and CEO Barry Silbert discusses recent social media IPOs and what he's seeing from atop the largest secondary trading platform in the world.

SecondMarket Founder and CEO Barry Silbert thinks his online marketplace for trading alternative assets can play an important role in creating a new model for capital markets. In this lecture, Silbert explains his personal path into entrepreneurship and describes the current growth of his firm, which has drawn attention for trading private stock in companies such as Facebook and Twitter. Silbert also offers reasons for why he thinks current public markets are broken and his vision of a new way forward.

SecondMarket Founder and CEO Barry Silbert thinks his online marketplace for trading alternative assets can play an important role in creating a new model for capital markets. In this lecture, Silbert explains his personal path into entrepreneurship and describes the current growth of his firm, which has drawn attention for trading private stock in companies such as Facebook and Twitter. Silbert also offers reasons for why he thinks current public markets are broken and his vision of a new way forward.

SecondMarket Founder and CEO Barry Silbert thinks his online marketplace for trading alternative assets can play an important role in creating a new model for capital markets. In this lecture, Silbert explains his personal path into entrepreneurship and describes the current growth of his firm, which has drawn attention for trading private stock in companies such as Facebook and Twitter. Silbert also offers reasons for why he thinks current public markets are broken and his vision of a new way forward.

Barry Silbert, Founder & CEO of SecondMarket.-Barry Silbert talks about focusing on investment opportunities with private companies, like Facebook & Twitter.

Download the MP3. Any shareholder in a startup can tell you there's a big difference between paper wealth and cash. Short of an IPO or outright acquisition, there are few options to cash out for the shareholders of even the most thriving private companies. Barry Silbert is determined to change that with his company SecondMarket -- an exchange like the NASDAQ for private stock and other illiquid assets. He founded the company in 2004 focused on restricted stock, and quickly reached profitability with only $350,000 in angel funding. The road to this point was not without challenges; Barry's business partner was diagnosed with cancer and passed away as they were establishing the company. In 2008, SecondMarket made $20 million in revenue. Barry's success has not tempered his ambition as he's spent 2009 aggressively moving into new asset classes such as private companies (Facebook stock is already being traded on his platform), limited partner interest in venture capital firms and even California IOUs. Hear how this former bankruptcy banker did it and why he believes "The sky's the limit" for his business.

Any shareholder in a startup can tell you there’s a big difference between paper wealth and cash. Short of an IPO or outright acquisition, there are few options to cash out for the shareholders of even the most thriving private companies.…