Globacap raises $21m Series B to digitise private capital markets 

By Gloria Methri

Capital markets technology firm, Globacap has completed a $21m million Series B funding round as it strives to digitise and automate the global private capital market.

Investors include capital markets heavyweights Moore Strategic Ventures, LLC, Cboe Global Markets, Inc., and the Johannesburg Stock Exchange (JSE), as well as GABI Ventures and Asia-focused investment firm, QBN Capital.

Globacap aims to unleash the potential of private capital markets through digitisation and automation. Its workflow automation software-as-a-service brings public markets-like efficiency to private markets. It streamlines time-consuming processes from issuance, and ongoing administration, through to transferability and settlement of securities, reducing costs and improving efficiency for market intermediaries.

Globacap has grown rapidly since launching six years ago. It hosts 15 whitelabels for global institutions and an ecosystem that has managed over 70 private placements and completed over $350 million in secondary transactions of private assets, with the automated settlement, and currently administers $14 billion of private securities.

The capital markets technology firm will use the fresh injection of funding to ramp up its marketing and sales efforts, expand into new geographies, and invest in developing its product to grow its customer base. It also plans to build on the success of its white-label product which digitises and automates processes throughout private capital markets and is used by leading intermediaries including the JSE and Instinet.

Myles Milston, Globacap Co-Founder and CEO said, “Private capital markets are rapidly growing, but their opaque nature is holding them back from reaching their true potential. We are bringing public markets-like infrastructure to private capital markets to improve access, boost liquidity, and remove administrative burdens. Securing considerable backing from world-leading investors during a time of market turbulence, risk aversion, and uncertainty is a powerful validation of our mission to transform and drive efficiency in private capital markets. We are in a unique position to grow through the current market turmoil, leading with strength as market conditions eventually improve.”