$260 Billion Morgan Stanley Buys Pre-IPO & Private Shares Marketplace EquityZen, Reported Valuation in 2021 at $700 Million, Founded in 2013 by Atish Davda, Shriram Bhashyam & Phil Haslett
4th November | Hong Kong
Morgan Stanley ($260 billion market value) has announced to buy pre-IPO & private shares marketplace EquityZen. In 2021, EquityZen was reported to have valuation at around $700 million. EquityZen was founded in 2013 by Atish Davda, Shriram Bhashyam & Phil Haslett. Announcement (29/10/25): “Morgan Stanley today announced it has entered into an agreement to acquire leading private shares platform, EquityZen. The acquisition enhances Morgan Stanley’s distinctive private markets ecosystem that provides a full suite of services to private companies and their shareholders, including cap table solutions, tender and liquidity programs, direct and co-investment opportunities, and secondary trading. EquityZen’s issuer-aligned model will support the Firm’s efforts to deepen relationships with private companies. This will provide Morgan Stanley at Work participants access to additional liquidity options as well as increase access to private shares for Morgan Stanley’s Wealth clients. The integrated offering will have the issuer at the center of the decision-making, allowing them to have full discretion over when and how their shares trade. EquityZen will serve as a powerful benefit for issuers and their employees, providing streamlined operational processing that is powered by the direct integration with the cap table solution provided by Morgan Stanley. Since 2013, EquityZen has committed to expanded access to the private markets by connecting retail investors with private company shares. It has over 800,000 registered users and has processed over 49,000 transactions across more than 450 private companies since inception through its scalable, purpose-built technology and infrastructure. The transaction is subject to customary closing conditions, including obtaining applicable regulatory approvals, and is expected to close in early 2026. EquityZen is headquartered in New York with a team of approximately 50 professionals. The news comes on the heels of Morgan Stanley Wealth Management’s recent expanded partnership with private capital software platform Carta, for whom Morgan Stanley is the exclusive U.S. equity management and workplace solution platform for late-stage private companies going public, and the preferred wealth manager for their participants. Morgan Stanley Wealth Management also recently introduced its Founders Specialist designation, established to recognize Advisors who can address the unique needs of founders and private market executives.”
“ $260 Billion Morgan Stanley Buys Pre-IPO & Private Shares Marketplace EquityZen, Reported Valuation in 2021 at $700 Million, Founded in 2013 by Atish Davda, Shriram Bhashyam & Phil Haslett “
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Jed Finn, Head of Morgan Stanley Wealth Management: “We are thrilled to welcome the entire EquityZen team to Morgan Stanley. This announcement comes at a critical time in the development of the private markets ecosystem. The combination of EquityZen with Morgan Stanley will uniquely address client needs as companies stay private longer, such as delivering liquidity solutions for their employees and early investors in a seamless yet controlled process of their own design. With EquityZen, we combine our cap table management solutions with a private shares marketplace to deliver end-to-end solutions to our private market company clients.”
Michael Gaviser, Head of Private Markets at Morgan Stanley Wealth Management: “This deal helps us accelerate our already robust and growing private markets business. We are seeing rising interest in private markets exposure across our 20 million clients. EquityZen is the link that connects supply and demand through a seamless, technology-driven solution, broadening the toolset we provide Workplace clients, while expanding opportunities for Advisors and their clients.”
Atish Davda, CEO of EquityZen: “We could not be more excited to join Morgan Stanley. This partnership isn’t about selling, it’s about scaling. Our entire mission has been to bring ‘private markets to the public,’ and by integrating into Morgan Stanley, we will reach more investors and shareholders than ever before. When our category-leading technology and welcoming marketplace is matched with Morgan Stanley’s comprehensive suite of products, services and offerings focused on the private markets, we can create a value proposition together for issuers, shareholders and investors that is unrivaled in our space.”
Morgan Stanley Wealth Management – Morgan Stanley Wealth Management is a leading financial services firm that provides access to a wide range of products and services to individuals, businesses, and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement, and trust services. Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
Morgan Stanley – Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.
EquityZen – EquityZen is a leading marketplace for pre-IPO investments, connecting shareholders of private companies with accredited investors. Through its category-leading technology and innovative approach, EquityZen delivers data-driven insights and tools that empower its 800,000 users to navigate the private markets with confidence. Having completed more than 49,000 private placements in nearly 500 private companies, EquityZen is on a mission to deliver “Private Markets for the Public.” EquityZen will provide investors with access to private market investments and other alternative investments. Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.
$260 Billion Morgan Stanley Buys Pre-IPO & Private Shares Marketplace EquityZen, Reported Valuation in 2021 at $700 Million, Founded in 2013 by Atish Davda, Shriram Bhashyam & Phil Haslett
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