NEI is a deal network for the private market. Companies raise, shareholders sell, investors buy, all in one place, with live pricing, verified inventory, liquidity solutions and compliance built into every transaction. We cover primaries and secondaries.

We sit next to the holder rather than six desks away, so what reaches you is real, priced and cleared to close.

Primaries and secondaries across the private market. Our depth today is strongest in unicorns and above, where both demand and transferable inventory concentrate. We take listings across the wider asset class alongside it.

In private markets, secondaries are the buying and selling of existing stakes in private companies or funds (shares, options, warrants or fund interests) between existing holders and new buyers, rather than new shares issued by the company. We give shareholders and employees liquidity before an IPO or exit, and give buyers access to companies they otherwise couldn't reach.

Primaries are new shares issued by the company itself, rather than existing stakes changing hands. Here we help companies raise: taking a round to market, matching it to investors whose mandate actually fits, and getting it closed.

Because secondaries is where the process fails hardest, and the process is the part nobody else is fixing.

1. Plenty of platforms are building indexes and overviews. An overview does not fix a low success rate or a lack of liquidity. That gets fixed inside the transaction itself. Everyone can build the overview. Only an insider can fix the process, and that is what we are doing.
2. We did not pick this on our own. NEI was born out of the market's own need, and built on the mandate the market gave us to solve it. That mandate is our access, and it is why in under 12 months we have become one of the largest actors in the space.
3. Secondaries and primaries is also where the damage is worst: too many links in the chain, and bad actors operating with or without a license. NEI is for the verified, honest and licensed counterparties who, like us, want to serve their clients and the market properly.

Every side of a private market transaction, across primaries and secondaries.
Sellers: Founders, employees, angel investors, venture capital funds, family offices, wealth managers, institutions, private equity funds and limited partners seeking liquidity in existing holdings.
Buyers: Venture capital funds, private equity funds, secondary funds, hedge funds, family offices, wealth managers, institutional investors and qualified individuals seeking access to private companies.
Companies: Raising primary capital, or giving their shareholders a sanctioned route to liquidity.
Intermediaries and institutions: Broker-dealers, investment banks, banks, lenders and advisers, who we work with rather than around.

Access is limited to verified, licensed and eligible counterparties. Eligibility varies by jurisdiction.

A broker works their own network. We are the network.

A broker can only match what sits inside their own book and rolodex, which is why positions travel desk to desk until someone finds the other side. Every hop adds a fee, adds time, and degrades what anyone actually knows about the deal.

We sit next to the holder. Inventory is verified at source, priced against live demand and cleared to transfer before it reaches a counterparty, so there is no chain to work through.

We do not replace brokers. Broker-dealers use NEI to reach verified inventory and real counterparties beyond their own network, and they keep their client and their fee. What we replace is the chain of intermediaries sitting between the two of you, so we'll be the last link you'll ever need.

Most platforms are an index. They show you what exists and leave you to work out whether it is real, whether it can transfer, and who might take the other side. An overview does not fix a low success rate.

Four mechanical differences:

1. We are not only secondaries. Primaries and secondaries across the whole private market, so a buyer can take new issuance and existing stock in the same name.
2. Inventory is verified before it is listed. Ownership, instrument, transfer restrictions and consent are all checked at source. You are not looking at a position someone hopes they can sell.
3. Matching runs through 8 gates and 50+ variables. A counterparty pair is only surfaced once it has cleared eligibility, transferability and jurisdiction. You never see a match that cannot close.
4. We match on what funds actually do, not what they declare. Open fund theses and holdings, plus LP positions mapped inside SPVs, so we know where exposure really sits and who is likely to move before anyone has posted an interest.

Infrastructure, with a network on top, and you use as much or as little of it as you want. At one end we run the full transaction like an investment bank. At the other we are simply a free to use data vendor.

The deal bank is the marketplace layer: real inventory, live pricing, both sides visible and metrics across the bids and asks we've seen. The value sits underneath it, in the verification, matching, compliance, due diligence and settlement that turn an indication into a closed transaction.

We are paid on success. If we match a transaction and it closes, we earn a fee, stated upfront. What we do not do is take your client. Broker-dealers, banks and advisers use NEI as the rails and keep their own relationships.

If you are categorising us internally, treat us as regulated transaction infrastructure. Licences and supervisory status by jurisdiction.

• We do not give investment advice. We will not tell you what to buy, what to sell, or what something is worth.
• We do not guarantee a sale. We give you verified inventory, real counterparties and live pricing. Whether a deal clears still comes down to price and appetite.
• We do not take your client. If you bring the relationship, you keep it.
• We do not list what we have not verified. If ownership, instrument or transferability cannot be established, it does not go on the platform.
• We do not work with unlicensed or unverified counterparties.
• We do not give tax or legal advice. That stays with your own advisers.

NEI is open to:

Professional investors, institutional investors, licensed brokers, broker-dealers and many more good actors.
Founders, shareholders and employees selling existing holdings.
Companies raising primary capital or looking for funding.
Licensed intermediaries: broker-dealers, brokers, investment banks, banks and advisers.

Individuals with a verifiable fortune above $50M can get access. Otherwise we can help guide individuals to the right type of adviser to talk to.

Yes.

Primarily US, but we can operate worldwide through a licensed partner network.

Russia, Iran and North Korea are the main issues. For some transactions we can't help mainland China or Hong Kong.

Typically less than 24 hours from request to access.

Passport, company "passport" and a link to the company's and individual's license.

We're trying not to do transactions below $1M.

No, it's free to use.

On our platform via "Add deal", an easy, seamless process.

Shares, options, warrants, convertibles, fund interests, SPV interests, SAFEs and more.

That depends on the issuer: whether the company has allowed transferring unexercised options. If yes, then sure!

Yes.

You ask the issuer if the company allows it. Typically such a process is outlined in the allocation paperwork from the company.

There will usually be a Board of Directors approval process, a ROFR or a transfer restriction. Read these closely and carefully, or have an advisor help you.

We list actionable equities. If it has a restriction of whatever nature, then please follow the process set by the company that issued the certificate to get the approval needed to transact your asset.

In 99% of cases, yes.

Yes.

The whole network can see the listing figures. To see that it's yours, they need to request access and you need to approve the request.

Yes, until a potential transaction, where it'll follow an institutional process.

If it's a hot issuer with an infrastructure in place, then less than 14 days from company approval. If it's a more common company, then expect up to a month so proper due diligence can be done by the counterparty. This creates the best results in our experience.

Then it does not sell.

Yes, anytime.

You'll have a deal overview, a market overview and a weekly mail with new deals that could be of interest.

Because we verify the deals, or require the licensed counterparty to confirm it's verified.

That depends on the company and typically also the transaction size. The data room is typical: last deck, redacted financials and Proof of Shares.

Yes! This is where our team and open source model will help you find what you're looking for.

We have 8 gates on a transaction. Each gate determines potential success, and each gate has several variables that determine whether it's a potentially successful transaction.

In simple terms: we only present a deal we consider to have an 80%+ chance of happening, and otherwise we'll disclose that it's lower. This is to show you more options, so you're aware of the current market, or because we simply do not have one close enough to your requirements.

Yes.

We do a minimum diligence unless we represent the client. Otherwise it's a licensed counterparty who has vetted and verified their listing as a professional party.

That depends on the deal structure. You can in general expect to buy either direct to cap table or into an SPV.

Yes.

A Layer 1 vehicle holds the shares directly. A Layer 2 vehicle holds an interest in a Layer 1, so you are two steps from the cap table. Which one you should expect, and what it costs, depends mostly on your ticket size. Our guide Pre-IPO Secondaries in the Top 10 Names walks through both structures tier by tier.

You can't do the full raise, as we're not licensed to do so, but if you have an allocation you'd like to sell then we can sell that allocation. Or if you want to finance a data center, for example, by selling shares in your company, then we can do both.

Verified unicorn status and upwards is our main focus, but we're seeing assets throughout the private market and companies well below unicorn status too.

A need that specific will be handled by an NEI team member or any of our partner companies, whichever can serve your needs and goals best. Please contact us regarding this.

No one sees the round unless you make it public.

We will prioritize filling the round if that's the mandate, but we can also host it.

The moment you make it public, all verified licensed parties can see the round.

Yes.

That depends on your structure and their structure.

It depends on round size, but 0.25%-5%.

Yes, but in general we suggest you have a firm allocation.

A buyer can take primaries and secondaries in the same name and in one process. We see that more and more often.

No, but we do track it. We track the true cap table, LPs in SPVs and other exposures.

Benchmarking, and then it's sellers plus their representatives who set a price they're willing to sell at. Buyers typically say yes to the price or counter it.

Indications, executed trades and portfolio pricing data.

Prices are always real prices. We might blur out some potential identifiers of the exact transaction, but we're always truthful.

Updated every hour.

Yes.

You can in theory, but it's not a service we offer. It's something we have partners for, and we'll gladly introduce you.

The markup between what a holding vehicle paid for its position and the price at which interests are offered to you. It rarely appears in any fee schedule, it appears in your entry price, which is why we always recommend asking for the vehicle's cost basis. More in our guide on pre-IPO secondaries.

We charge a fee depending on transaction size and terms. It's a complicated determination, but between 0.25%-5%, typically around 0.5%-2.5% and most often 1%.

It depends on the nature of the transaction, but typically the buyer pays the full amount to the seller, who then acts as paymaster and splits the fees among the different parties. In some cases we see buy-side take care of their own representatives after the conclusion of the purchase. Payout can also happen through an escrow account.

We can only show the fees we've been given. If buy- or sell-side add fees themselves, then those fees are hidden. It's something we work hard on to be able to show the "True Price", which is why we only work with verified, licensed and legally allowed parties who legally need to inform us about the total fee package.

Usually not. Some cases do, though, but it's rare and something you'll know upfront.

No.

Very different from ours, and they scale with size: total fee load in the market runs roughly 20-35% of committed capital at $1-10m, 5-12% at $10-100m, and 1-3% at $100m+. What you get for it (Layer 2, Layer 1 or direct cap table access) changes at each tier too.

We break down the observed ranges, structures and what to negotiate in Pre-IPO Secondaries in the Top 10 Names.

After buyer and seller have matched, we introduce their representatives to one another and sign both parties to NDAs and LOIs for the transaction. After that there'll be a POF and POS call and a direct introduction between the Ultimate Beneficial Owners (UBOs), where the seller will allow the buyer into the data room and both parties have agreed on a deadline for the transaction.

We prefer escrow transactions, but most transactions are: the seller informs the company or SPV, the company or SPV agrees to register the transfer, and then the buyer transfers.

Days.

Buyer or escrow, typically.

The buyer gets his money back and the seller gets to keep his shares.

That depends on the borders and the company.

Everything that can get converted to USD.

The broker-dealer involved.

We're currently regulated by LEI. Soon we'll be by FINRA under SIE.

SIE, Series 7, Series 63 and a few more.

Third party specialist. Right now it's done by our broker-dealer.

We run various checks that depend on the UBO's origination.

That's different from country to country and state to state. We recommend you talk with a tax advisor about this.

Yes, FINRA.

Shares in the top private names cannot move, directly or indirectly, without written company consent: a consented transfer is valid, an unconsented one is void, and validity runs upstream through every layer of a structure. It's the single risk variable that matters more than layer count. Our guide Pre-IPO Secondaries in the Top 10 Names covers how consent works at each transaction size.

Filings, public sources, our client database and many more places.

Yes. If you have a website or are online and you invest, then we have categorised everything you've said and done.

Individuals can, yes. Companies can't: if you're on the cap table or in any public filings, then we have the data and the data will recur.

Either we contact you about selling your position, or we consider whether you could be interested in another position.

No.

No. We do share our transaction data with MSCI.

By having a very comprehensive data security set-up. We won't disclose it online, but it's safe.

A lot of people already, and we couldn't be more grateful.

Rasmus Secher Schultz is the CEO and Founder, and the main architect of the vision.
Emil Spurre is the COO and Co-Founder, driving the operations.
Christian Røssel is the CTO and Co-Founder, and has built the platform and data infrastructure.

We're also backed by Pickwick Capital Partners, Thomas Marschall and many more, to whom we're all grateful.

Denmark and the US.

Not yet, but we're backed by an NYC based investment bank and select partners.

We started in October and had the platform ready on the 11th of June in beta. The deal flow recorded on our platform is only from then.

Then the data disappears.

You contact us: contact@nei.io