J.P. Morgan Backs Zanbato
February 22, 2021
technology company Zanbato has secured a strategic investment from global
financial services leader, J.P. Morgan. The investment marks the first step in
further aligning Zanbato's ZX platform with its membership through equity
Zanbato was co-founded by Joe Lonsdale, who
also co-founded Palantir.
"We're pleased that J.P. Morgan shares our commitment to creating deeper and
more reliable private markets," said Nico Sand, Zanbato Chief Executive. "We
look forward to continuing to build out ZX, further enabling our members to more
effectively serve their clients."
strategic investment in Zanbato complements our commitment to support clients
across the private market ecosystem, as we look to leverage tech-enabled
platforms to source liquidity and increase execution speed,” said Andrew Tuthill,
Global Head of Equities Private Markets, J.P. Morgan.
J.P. Morgan's commitment to private stock trading comes as top funds and
institutional investors increasingly turn to secondary markets to actively
manage their private company exposure. Based on Pitchbook data, in 2020 the
combined value venture-backed private companies exceeded $2 trillion, having
grown at more than 40% compound annual growth rate over the prior decade.