Hiive Markets Raises Funds on Its Own Platform Amid Rival Acquisitions

Hiive Markets, a pre-IPO marketplace, is raising funds by listing itself on its own platform. The company is seeking a pre-money valuation of $650 million in a Series B round. Investors can buy a stake in a fund managed by Hiive that will purchase Series B preferred stock from the company via a primary issuance. This move comes as competition in the pre-IPO marketplace heats up, with Charles Schwab acquiring rival Forge Global for $660 million and Morgan Stanley taking over EquityZen Securities.