Press Release
Forge Launches in Europe Amidst Growing Demand for Access to Private Company Liquidity
Launch success establishes a strong platform for future expansion
- Forge is a leading global secondary marketplace for private company shares in the US and has partnered with Deutsche Börse to expand into Europe.
- Forge Europe hires four seasoned executives based in London and Germany to drive European expansion.
- The number of international buyers and sellers on the Forge platform demonstrates the growing demand for private shares in Europe and globally.
LONDON AND BERLIN – April 25, 2024 – Forge Global Holdings, Inc. (“Forge”) (NYSE: FRGE), a leading provider of marketplace infrastructure, data services and technology solutions for private market participants, today announces it has successfully launched Forge in Europe.
Forge Europe, a subsidiary of Forge, is spearheaded by a team of senior executives with decades of collective experience at companies including Charles Schwab, Bank of America, Freshfields Bruckhaus Deringer, Seedrs and Nuri. Thomas Davies, Managing Director and President of Forge Europe, Christoph Iwaniez, Managing Director, Finance & Operations, Toby Kendall, Managing Director, Technology and Edward Wales, Head of European Sales, bring invaluable local expertise to build out the company's presence and growth in the European market.
With the official launch, Forge Europe capitalizes on the success of its parent company Forge, which stands as one of the largest global secondary marketplaces in the world. By connecting directly to the global interest book and leveraging Forge’s infrastructure, data services and technology solutions, Forge Europe is able to provide sellers with access to an extensive pool of liquidity and buyers with the opportunity to buy shares in some of the world’s most exciting growth companies. With operational hubs in Berlin, Germany, integrated within the Deutsche Börse network, as well as in London, UK, Forge Europe has now closed its first trades in cooperation with local partners and is planning to further expand across Europe into Austria, Switzerland and France.
Thomas Davies, Managing Director and President of Forge Europe said: “We have built an incredible team here in Europe with one simple aim: To be the largest and most liquid marketplace for private company shares in Europe. With unparalleled access to the experience and infrastructure of Forge in the US, as well as the support and network of Deutsche Börse, we are well on track to achieving this aim.”
“Demand for buying and selling private company shares is rapidly gaining pace in Europe,” Davies said. “We are building Europe’s most professional, trusted and data-driven solution for private companies and their investors to address this demand.”
Eric Leupold, Head of Cash Markets at Deutsche Börse said: “With the maturing European tech ecosystem and the continued growth of investment in private companies over the past decade it has become clear to us that there is a need for an efficient, data driven and technology-enabled marketplace for the trading of private company shares in Europe.”
“With Forge’s strong track record in the US and Deutsche Börse’s extensive experience in operating trusted and scalable market infrastructure, I am confident that Forge Europe will be the pioneer in addressing the late-stage and pre-IPO liquidity needs of private companies and investors in Europe, thereby strengthening the tech ecosystem.”
Kelly Rodriques, CEO of Forge Global said: “We know that in order to succeed in Europe we need local experts who understand the nuances of the local markets. With the expertise and network of our partner Deutsche Börse, and the team we’ve selected to drive this effort, Forge Europe is applying our learnings from pioneering private market solutions in the US to the unique needs of Europe’s distinct jurisdictions. Thomas has built an incredible team with exactly the local expertise that we need in order to capitalise on this fast-growing and rapidly changing market.”
“With over $14 billion traded on our platform in more than 500 private companies including Klarna and Spotify (now public), as well as our Forge Pro trading management solution and the Forge Private Market Index, Forge Europe is integrated into one of the largest global marketplaces for private company share trading in the world. We are confident that we have the right team, at the right time, to accelerate access to this asset class in Europe.”
Market Trends
Forge Global has targeted Europe as the number of unicorn companies located in Europe grows and as global demand for private shares trading grows with it.
The Forge platform has seen the proportion of private market transactions with international buyers or sellers increase over time to 26% in 2024, up from about 13% in 2018, according to Forge’s latest Forge Investment Outlook, released April 18.
Overall, the market for secondary shares trading through the Forge platform saw an increase in activity in Q1 2024, according to the Forge Investment Outlook. Indications of interest submitted rose 45% in Q1 over Q4 2023, and there was a notable shift in the market in Q1 as buyers made up a greater proportion of total interest than did sellers for the first time in more than two years.
In addition, the report showed that the Forge Private Market Index, which tracks the 75 most liquid names in the private market, rose 4.5% in Q1 2024.
To view more data on the private market, download the Forge Investment Outlook here.
Press Contact
UK: Guy Bates
+44 7581 056415
DE: Marisa Wagner
+49 1525 437 2777
[email protected]
About Forge
Forge is a leading provider of marketplace infrastructure, data services and technology solutions for private market participants. Forge Securities LLC is a registered broker-dealer and a Member of FINRA that operates an alternative trading system.
About Forge Europe
Forge Europe GmbH is a tied agent in accordance with § 3 (2) WpIG, registered with BaFin as tied agent and provides investment brokerage, pursuant to § 2 (2) Nr. 3 WpIG, exclusively in the name, on the account and under the liability of Effecta GmbH, which is registered with BaFin as an investment firm (Wertpapierinstitut) (BaFin-ID: 10133261).
Forge Europe UK Limited is an appointed representative of Kroll Securities Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 466588.Past performance is not a guarantee or indicator of future results.
Forward-Looking Statements:
Certain statements in this release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Forge's expectations, hopes, beliefs, intentions, or strategies regarding the future, including, without limitation, statements regarding Forge’s ability to expand into the European market and the future success of Forge Europe. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “ anticipate,” “believe,” continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. You should carefully consider the risks and uncertainties described in Forge’s documents filed, or to be filed, with the SEC from time to time, including in its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Forge assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Forge does not give any assurance that it will achieve its expectations.