"This partnership offers KittyHawk a significant structural advantage, allowing us to access compelling secondary market opportunities," said Alexandra Peterson, Partner at KittyHawk.
The new solution will start with a pre-IPO AI company, using tokenized notes that can be bought and sold around the clock on the secondary market.
The Ethereum-based share class follows SEC relief that gives investors in the interval fund another liquidity channel.
"Companies are choosing to stay private far longer, making liquidity an essential part of the private company lifecycle," said Ravi Viswanathan, Founder and Managing Partner of NewView.
Donerail Private Markets will target large secondary trades in late-stage private companies, with a focus on AI, enterprise software, and fintech.
The new identity is part of a complete rebrand and rebuild, including the introduction of a portfolio feature, new trade mechanics, and the scrapping of its "(in)famous public orderbook."
The order bars a former NPM employee from working at Hiive for a period of three months and from soliciting NPM employees and customers for one year.
The ongoing saga between the rival secondary market trading platforms continues to escalate, with new allegations that Hiive solicited employees to access proprietary information.
The secondaries platform is suing rival Hiive for copying elements of its private share transfer and settlement technology.
The Utah-based company raised $2 million in a pre-seed round led by New Stack Ventures.
