Uri Cohen of Clear Street aims to democratize private market investments by launching a new platform for accredited investors.
Uri Cohen, the CEO and co-founder of Clear Street, is preparing to launch a new platform that allows accredited investors to purchase interests in late-stage private companies. The startup, which recently paused its own IPO plans, aims to provide retail and smaller investors with access to high-growth tech firms like Databricks, which was recently valued at $188 billion. To facilitate these investments, Clear Street will use special purpose vehicles to hold stakes in third-party funds, allowing investors to own a portion of the company without the startup being directly involved in the deal. Cohen stated that the firm intends to be the counterparty for these deals, taking on the risk to ensure a smooth experience for investors. By the end of the year, the platform is expected to host as many as 30 startups, primarily tech firms with valuations between $5 billion and $20 billion. The expansion is supported by a clear liquidity position and a new equity research initiative led by analyst Owen Lau.