Singapore state-owned investment firm Temasek has backed global private securities marketplace Forge Global in its latest $150 million funding round, per an announcement.
This brings the total capital raised by the US-headquartered company to over $250 million.
The round also saw the participation of a slew of new and existing investors such as Wells Fargo Strategic Capital, LUN Partners Group, True Global Ventures, and Deutsche Börse.
The corpus raised will help Forge expand its offerings both in the domestic and international market.
With the transaction, Jane Atherton, managing director, investment at Temasek International; and Paul Hilgers, managing director of Deutsche Börse’s cash market business, will join Forge’s board.
Forge also announced that it has received an approval from the Financial Industry Regulatory Authority (FINRA) to operate as a single broker-dealer with SharesPost with which it merged last year.
Forge CEO Kelly Rodriques highlighted that the company has tied up with several companies as it continues to build an operating system for the private market.
“With their support and backing, and the momentum coming from the SharesPost merger, we are in an excellent position to continue to build solutions and bring data, technology, and liquidity at scale to the private markets.”
Founded in 2014, Forge has completed more than $9 billion in transactions in nearly 400 companies.
In the months following its acquisition of SharesPost, Forge claims to have tallied three consecutive record-breaking quarters – including in the first quarter of 2021 when it completed 1,400 transactions totaling over $730 million of volume.
Temasek’s other portfolio companies in the US include Verily, Pear Therapeutics, and BioNTech, among others.