Market Opportunity
As private markets surge toward $30 trillion AUM, the greatest bottleneck isn't capital — it's infrastructure.
The Market
Global private-markets AUM is projected to reach $32 trillion by 2030, driven by sustained institutional demand across private equity, private credit, infrastructure, and real assets (Preqin, Private Markets in 2030 Report, 2025).
While capital compounds exponentially, the market's underlying infrastructure for discovery, fundraising, diligence, and liquidity has barely evolved. Private markets today resemble public markets before the electronic trading revolution — a $30T engine running on manual infrastructure, with no shared data standards, unified execution rails, or liquidity layer.
This structural lag — between capital growth and infrastructure modernization — represents one of the largest unrealized opportunities in global finance.
The Problem: Fragmented, Opaque, and Illiquid Private Markets
1 Deal Origination Is Challenging
Unlike public markets powered by Bloomberg, Refinitiv, or exchanges, private markets lack a centralized operating system for discovering, evaluating, and transacting on opportunities. Deal flow remains trapped within personal networks, email chains, and closed messaging groups — disconnected, incomplete, and inefficient.
2 Fundraising and Co-Investment Are Constant Battles
Fund managers, developers, and sponsors operate in perpetual fundraising mode — chasing capital, co-investors, and credibility in a market defined by opacity and inertia. Without infrastructure to align mandates and capital pools, closing velocity remains slow and costly.
3 Trust Is Everything, but Hard to Verify
A single unreliable counterparty can destroy millions in value. Institutions overcompensate through manual verification, relying heavily on known networks and referrals — a "trust chokehold" that constrains access and reduces deal velocity.
4 Confidentiality Kills Visibility
Sellers or Sponsors cannot disclose opportunities without exposing sensitive data. Buyers or Financiers can't discover what they don't already know exists. The result: information asymmetry, missed matches, and delayed execution.
5 Isolated and Non-Standardized Data
Every firm operates within its own data silos — proprietary documents, models, and formats. The absence of standardized, interoperable data prevents intelligence from compounding across the market. AI can't connect what isn't structured.
6 Liquidity and Exits Are Elusive
Liquidity remains the system's weakest link. With no transparent, credible mechanism for price discovery, secondaries, or partial exits, capital stays trapped and performance realization is delayed — a structural inefficiency now affecting the entire asset class.
7 Performance Transparency Is Absolutely Necessary
After a decade of mark-to-model valuations and delayed distributions, the market is shifting from paper performance (TVPI, NAV uplifts) to realized performance (DPI, cash returns) as the true measure of success. LPs need standardized, verifiable data to assess performance and allocate with confidence, while fund managers, dealmakers, and sponsors need faster, more flexible exit routes to generate those realizations. Without both, value remains unproven and capital remains trapped.
The Cost of This Inefficiency
a) Time and Resources Wasted
b) Slower Capital Formation
c) High Verification and Reputation Risk
d) Missed Opportunities
e) Capital Locked and Returns Delayed
Who Feels This Pain
General Partners (GPs)
Private equity, venture capital, and real estate managers
Pain: Operate in a perpetual cycle of fundraising, co-investment sourcing, and portfolio exits, with credibility and speed determining survival. They require efficient discovery, trusted counterparties, and discreet liquidity routes — yet rely on fragmented networks and manual workflows that slow capital velocity and limit scale.
Limited Partners (LPs)
Institutional investors, sovereign funds, pension funds, and endowments
Pain: Struggle to access direct and co-investment opportunities outside existing GP relationships. Secondary interests are difficult to source or validate, and market data is non-standardized, making it hard to benchmark and compare private exposures across strategies, geographies, or vintages.
Family Offices
High-net-worth investors and private wealth platforms
Pain: Seek institutional-grade deal access and alignment without layers of intermediaries. Need curation, credibility, and discretion — but face an opaque ecosystem dominated by informal referrals and unverified deal flow.
Wealth Managers
Private banks, multi-family offices, and investment advisors
Pain: Tasked with delivering differentiated private-market exposure for clients, but lack reliable, scalable access to verified opportunities. Excessive time is lost on counterparty vetting, fragmented communication, and manual due diligence.
Intermediaries & Deal Sponsors
Fundless sponsors, boutique investment banks, and placement agents
Pain: Must constantly raise capital, find credible partners, and validate their deals — yet operate in a market where network depth and speed determine survival. Existing sourcing and syndication channels are costly, opaque, and nearly impossible to scale.
Corporate Development & Strategic Investors
M&A and investment teams within mid-to-large enterprises
Pain: Depend on advisors and bankers for slow, expensive introductions. They require direct, data-driven access to vetted acquisition and partnership opportunities that align with strategic or thematic mandates.
In short: Every participant in private markets — from GPs to corporates — faces the same structural limitation: a lack of standardized, trusted, and liquid infrastructure to originate, verify, and transact efficiently at scale.
Why Now
i. Private Markets Enter a $30 Trillion Phase
Global private markets are on track to exceed $30 trillion in AUM by 2030 (McKinsey, 2025). Capital formation has outpaced the infrastructure supporting it — creating friction in origination, fundraising, and liquidity.
→ More capital, more participants, same outdated pipes — and no centralized system to enable automated, agentic dealmaking at institutional scale.
ii. The Infrastructure Layer Is Technically Feasible Today
Interoperable APIs for corporate registries, AML/KYC, financial, and identity data now exist and can be stitched together via automation and AI. The technology stack to digitize discovery, verification, and execution is available — it simply hasn't been integrated into a cohesive system.
→ Trust, compliance, and diligence can finally move at the speed of capital.
iii. A Generational and Cultural Shift in Dealmaking
A new generation of deal professionals — aged 30 to 45 — are digital natives leading capital formation. Post-COVID normalization of virtual dealmaking, remote diligence, and digital co-investing has eliminated the stigma around online private-market infrastructure.
→ The market is culturally ready for a digital operating layer and algorithmic decision support.
iv. Liquidity and Exit Pressure Are Redefining Strategy
For the first time since 2015, distributions to LPs have exceeded capital calls (McKinsey, 2025). Meanwhile, high interest rates, elongated hold periods, and redemption pressure have made liquidity a board-level priority.
→ Liquidity is no longer a feature — it's the new foundation of modern private markets.
v. Data, AI, and Productization Converge
Structured data on deals, investors, and counterparties now enables AI-driven matching, forecasting, and product design. The next evolution of private markets will be defined by platforms that combine data, intelligence, and execution infrastructure to automate capital movement.
→ Whoever builds this infrastructure first — merging agentic automation, structured data, and AI-driven insight — will be positioned to create tailored financial products that directly match investor mandates and proactively design solutions around their evolving needs.