Private Markets, Angel and Secondary Investing, Sacra

Sacra

Bringing transparency to private markets so investors, founders, and employees can build on conviction.

Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>When Robinhood (founded 2012) popularized zero-commission stock trading funded by payment-for-order-flow (PFOF), it pushed Schwab, Fidelity, and TD Ameritrade to give up their lucrative $5-10 per-trade stock commissions—today, private alternative assets like pre-IPO stocks, private equity funds & real estate give brokerages a new source of high-margin, 2-3% commission revenue.</li><li>Alternative asset infrastructure companies for pre-IPO (Monark, Zanbato), private credit (iCapital), and crypto (Alpaca) are selling 1) into brokerage-as-a-service providers like ViewTrade as white-labeled APIs, and 2) as product features directly integrated into consumer-facing brokerages & wealth management apps like SoFi and eToro.</li><li>With $14 trillion in new AUM potentially unlocked by Trump's August 2025 executive order paving the way for 401(k) plans to include crypto & other private assets, Schwab, SoFi, and Robinhood are preparing to bundle up pre-IPO stock and other alternative assets onto their platforms to maximize wallet share.</li></ul>

When Robinhood (founded 2012) popularized zero-commission stock trading funded by payment-for-order-flow (PFOF), it pushed Schwab, Fidelity, and TD Ameritrade to give up their lucrative $5-10 per-trade stock commissions—today, private alternative assets like pre-IPO stocks, private equity funds & real estate give brokerages a new source of high-margin, 2-3% commission revenue.Alternative asset infrastructure companies for pre-IPO (Monark, Zanbato), private credit (iCapital), and crypto (Alpaca) are selling 1) into brokerage-as-a-service providers like ViewTrade as white-labeled APIs, and 2) as product features directly integrated into consumer-facing brokerages & wealth management apps like SoFi and eToro.With $14 trillion in new AUM potentially unlocked by Trump's August 2025 executive order paving the way for 401(k) plans to include crypto & other private assets, Schwab, SoFi, and Robinhood are preparing to bundle up pre-IPO stock and other alternative assets onto their platforms to maximize wallet share.

Ben Haber, CEO Of Monark, On Building The DTCC For The Private Markets