Close-up of Databricks company logo on building facade, Rincon Hill, San Francisco, June 7, 2024.
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Clear Street, the prime brokerage startup that recently shelved plans for its own IPO, is now aiming to give investors access to some of Silicon Valley’s hottest private companies before they go public.
The firm is close to announcing a new platform designed to let accredited investors buy interests in late-stage private companies, starting with AI software titan Databricks, valued this month at $188 billion, CNBC is first to report.
“The goal is to remove friction and give more people the ability to invest in more products,” Uri Cohen, CEO and co-founder of Clear Street, said in an interview. “A lot of the wealth creation has been in private markets, and more and more retail investors and smaller investors want to be part of that.”
More startups are staying private for longer, meaning…
