Forge Global Joins Open Cap Table Coalition
SAN FRANCISCO, Dec. 14, 2021 - Forge Global, a leading global private securities marketplace, has joined the Open Cap Table Coalition, a cross-industry group that is collaborating to improve the interoperability, transparency, and portability of startup capitalization data. The working group includes major law firms that advise emerging companies, leading software providers, venture capital firms, and other critical members of the startup ecosystem.
As a foundational step, the Coalition members are producing a first iteration of the Open Cap Table Format (OCF), an open source format to enable a new, more collaborative era in capitalization data management that aims to prioritize companies’ changing needs and help the ecosystem become more efficient. This first-of-its-kind cap table standard format will be released in Q1 of 2022.
“Today there is friction around capitalization data, which inhibits company choice as well as companies’ abilities to manage their cap tables and serve their stakeholders. We want to change that,” said Shriram Bhashyam, SVP Business Development at Forge. “The principles adopted by the Coalition are foundational to Forge’s long-time approach to creating an accessible, liquid and transparent private market. Because we believe that companies own their capitalization data and should be able to do with it what they want, those of us creating the mechanisms to participate in the private market have an obligation to help make the use of that data interoperable, portable, and transparent.”
The Coalition was officially founded in July of 2021, and founding members of the Open Cap Table Coalition include: Carta; Cooley; Fenwick & West; Goodwin Procter; Gunderson Dettmer; LTSE Software; Morgan Stanley | Shareworks; Orrick, Herrington & Sutcliffe; and Wilson Sonsini Goodrich & Rosati. For more information on the Open Cap Table Coalition, you can visit their medium blog or email them at [email protected].
Forge Global is a leading provider of marketplace infrastructure, data services and technology solutions for private market participants. By combining world-class trading technology and operating expertise, Forge Markets enables private company shareholders to trade private company shares with accredited investors. Forge Company Solutions, Forge Data and Forge Trust along with Forge Markets helps provide additional transparency, access and solutions that companies, as well as institutional and accredited investors need to confidently navigate and efficiently transact in the private markets. Securities-related services are offered through Forge Securities LLC (“Forge Securities”), a wholly-owned subsidiary of Forge Global, Inc. Forge Securities is a registered Broker Dealer and Member FINRA/SIPC and alternative trading system.