Clear Street launches platform for pre-IPO investing in Databricks and up to 30 private firms by year-end

Clear Street has introduced a new platform allowing accredited investors to buy stakes in late-stage private companies, starting with AI software firm Databricks, valued at $188 billion. The platform aims to provide more transparency and margin loan options for pre-IPO investments, targeting tech startups valued between $5 billion and $20 billion that are close to going public. This move reflects growing investor demand for private market access as more companies stay private longer. Clear Street, which paused its own IPO plans, is financially strong and plans to expand its private market offerings with dedicated research and up to 30 startups by the end of 2024.