Pre-IPO Access
A Streamlined Way to Access Pre-IPO Companies
FNEX structures special purpose vehicles, or SPVs, that give institutional and accredited investors a single, efficient path to a specific pre-IPO company. Each SPV pools investor capital into one vehicle that holds the underlying private security, backed by the same institutional infrastructure behind the FNEX Institutional Dark Pool.
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Recent Pre-IPO Transactions
The Structure
Why Investors Use an SPV to Access Pre-IPO Shares
Lower Investment Minimums
Pooling capital into a single vehicle can reduce the minimum needed to gain exposure to a specific pre-IPO company compared to a direct secondary purchase.
A Simplified Structure
One subscription and one Schedule K-1 provide a streamlined way to participate in the investment.
Access to Late-Stage Names
An SPV can offer a route to companies that are difficult to access directly in the secondary market, subject to availability and issuer restrictions.
Why FNEX
How FNEX Structures and Sources Pre-IPO SPVs
Global Capacity
With a global network of financial professionals and inter-banking relationships, FNEX brings broad reach and deep experience to every SPV it structures.
Confidential Structuring
Each SPV is formed and administered with the same discretion FNEX applies across its private securities business, protecting the underlying position and its investors.
Proprietary Deal Sourcing
FNEX’s platform and data tools help identify and evaluate underlying opportunities, giving investors access to deal flow sourced through the FNEX network.
Our Track Record
Put Our Experience to Work for You
- Over $26B in transactions
- Global institutional client relationships
- Vast and multi-sector private company relationships
- Proprietary secondary transaction deal flow
- Proprietary price and market data through FNEX platforms
Explore More
FNEX Private Market Solutions
Beyond SPVs, FNEX offers additional ways to access the private markets.
Pre-IPO Stock
Direct secondary access to pre-IPO shares through the FNEX Institutional Dark Pool.
Explore Pre-IPO Stock →FNEX Alternatives Market
A marketplace for alternative investments and private market offerings across asset classes.
Explore the Alternatives Market →FNEX Ventures Fund
A private fund offering RIAs and accredited investors exposure to a portfolio of late-stage private companies.
Explore FNEX Ventures Fund →FAQ
Frequently Asked Questions
FNEX combines private market experience, proprietary deal sourcing, institutional relationships, and SPV structuring to provide accredited and institutional investors access to select late-stage private company opportunities.
A pre-IPO SPV, or special purpose vehicle, is a single-purpose legal entity formed to hold a specific private investment. Investors gain exposure to the underlying company by acquiring an interest in the SPV rather than purchasing the shares individually.
A direct secondary transaction involves purchasing private shares directly, subject to the terms and restrictions of the transaction. An SPV instead pools multiple investors into a single investment vehicle, which can provide a more streamlined way to gain exposure to a specific private company.
Participation in an FNEX pre-IPO SPV is limited to accredited investors, institutional investors, family offices, and other qualified participants, subject to the requirements and terms of each offering.
Minimums vary by SPV and by the underlying opportunity. Contact FNEX to review current terms for a specific vehicle.
Investors in an FNEX SPV may receive tax reporting associated with their interest in the vehicle. Tax treatment can vary based on the structure and the investor’s circumstances. Investors should consult their own tax advisor regarding a specific SPV investment.
SPV interests are illiquid and involve the risks associated with private securities, including the possible loss of principal. Fees, holding periods, liquidity, and other terms vary by investment. FNEX does not guarantee a particular outcome or liquidity event.
Disclaimer: This material does not constitute tax, legal, insurance or investment advice, nor does it constitute a solicitation or an offer to buy or sell any security or other financial instrument. Securities offered through FNEX Capital, member FINRA, SIPC. SPV interests are offered as private placements under Regulation D, Rule 506(c), and are available only to accredited investors and other qualified participants. Private placements involve a high degree of risk, may be illiquid, and may result in the loss of principal.
