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>During 2017-2018, initial coin offerings (ICOs) showed extreme product-market fit for capital formation but failed investors by severing economic rights from company performance through "utility token" gymnastics needed to dodge securities law, leaving token holders with no claim on revenue &amp; inspiring today&#39;s tokenized private &amp; public stock securities to focus on delivering economic rights under existing regulations like Reg D and Reg S.</li><li>Just as millennial demand drove Robinhood to fractionalize Tesla and Apple shares, millennial HENRYs with disposable income but sub-accredited net worth are now demanding fractional SpaceX and Stripe ownership—but in most cases, the most democratic and accessible option available to them is 3rd and 4th-layer SPVs that come with smaller minimum ticket sizes but increased risk &amp; far higher costs.</li><li>With Robinhood and Kraken already live with 24/7 tokenized Tesla and Apple trading, and Nasdaq announcing plans to tokenize its entire public market by 2025, the endgame isn&#39;t a separate category of "blockchain-based securities" but blockchain becoming invisible settlement infrastructure, the same way Venmo users don&#39;t think about ACH.</li></ul>

During 2017-2018, initial coin offerings (ICOs) showed extreme product-market fit for capital formation but failed investors by severing economic rights from company performance through "utility token" gymnastics needed to dodge securities law, leaving token holders with no claim on revenue &amp; inspiring today&#39;s tokenized private &amp; public stock securities to focus on delivering economic rights under existing regulations like Reg D and Reg S.Just as millennial demand drove Robinhood to fractionalize Tesla and Apple shares, millennial HENRYs with disposable income but sub-accredited net worth are now demanding fractional SpaceX and Stripe ownership—but in most cases, the most democratic and accessible option available to them is 3rd and 4th-layer SPVs that come with smaller minimum ticket sizes but increased risk &amp; far higher costs.With Robinhood and Kraken already live with 24/7 tokenized Tesla and Apple trading, and Nasdaq announcing plans to tokenize its entire public market by 2025, the endgame isn&#39;t a separate category of "blockchain-based securities" but blockchain becoming invisible settlement infrastructure, the same way Venmo users don&#39;t think about ACH.

Han Qin, co-founder & CEO Of Jarsy, On The Rise Of Fractional pre-IPO Investing