PrivatEquity.biz, Israel’s first secondary trading platform, has signed agreements with 14 employees at top US, Canadian, and Israeli pre-IPO high-tech companies who wish to sell their shares to private investors at prices ranging from several hundred thousands of dollars to $2 million.
Shares presented for sale on the PrivatEquity.biz arena include Jumio (US), shares of which are also available on US platform SharesPost; DoubleVerify (US); and QuickMobile (Canada). The Israeli companies include Gett (formerly GetTaxi), Kenshoo, LiveU, Websplanet, BotanoCap, and DudaMobile
PrivatEquity.biz chairman Yaron Jacobs said, “Some employees are already in talks to sell shares which they have presented. We will soon have the first closing of a micro-fund we founded for investment in shares of high-tech employees, a fund which will make its first investments during 2015.”
PrivatEquity.biz has recently announced the establishment of its High-Tech Employees Index Fund, which is currently raising NIS 50 million (about $14 million). It the first fund in Israel, and one of the first funds in the world, whose capital is allocated solely for investing in shares that will be purchased from entrepreneurs, founders, senior employees and former senior employees in pre-IPO high-tech companies, as part of an innovative model.
Jacobs added, “Since PrivatEquity.biz announced that it was raising capital for the unique fund, we have received a growing number of inquiries, ranging from executives of North American and Israeli pre-IPO high-tech companies who wish to present for sale shares on our employees arena, to well-known high-tech investors and financial institutions from around the world, which are considering making capital available to the High-Tech Employees Index Fund. The fund is raising capital, and we estimate that in a few weeks we will announce its first closing. During 2015, we will begin making investments through the fund in selected shares of high-tech employees.” Emphasizing the strongly accelerating demand for high-tech employee shares on the trading arena, Jacobs said, “The development of secondary markets and the sale of shares by employees of private high-tech companies are growing worldwide, breaking records. High-tech employees are interested in obtaining more information and possibilities in regard to their compensation in general and capital-based compensation in particular. We at PrivatEquity.biz are also feeling these trends in a very concrete way." “Employees presenting shares for sale on our online platform have already received serious offers from potential investors and are in talks to sell their shares. At the same time, we are in contact with employees of other top high-tech companies in North America and Israel who want to present shares on PrivatEquity.biz. The picture which is emerging is clear: we have brought the growing global trend of the sale of employee shares to Israel, and this trend will only grow.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2015
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