Forge Global (FRGE) The Citizens JMP Technology Conference 2025 summary

Company mission and platform evolution

• Focused on making private markets accessible globally, with technology and data-driven products for investors in 78 countries.

• Launched next generation platform, investing heavily in automation and data integration, with major releases planned for 2025 and 2026.

• Forge Pro and Forge Data launched to provide advanced tools for institutional and retail investors.

• Emphasis on building scalable, highly automated infrastructure to support both institutional and high net worth clients.

Market trends and dynamics

• Private markets experienced a "Great Reset" post-2021, with valuations dropping and low liquidity through 2022-2023.

• 2024 saw a market rebound: bid-ask spreads narrowed to 8%, buy-side demand hit record highs, and the private market index rose over 30% in three months.

• AI and crypto are major themes driving renewed investor interest, with institutions increasingly entering the asset class.

• The "Private Magnificent Seven" (SpaceX, OpenAI, Stripe, Databricks, Fanatics, Rippling, Scale) outperformed public tech peers.

Product innovation and liquidity

• SPV structures and index-tracking passive funds are increasing market liquidity and efficiency.

• Launch of Equidity, a 40-act, non-accredited tradable fund, aims to broaden access and liquidity in private markets.

• Standardization and automation of trading processes, including KYC and integration with issuers, are key to scaling the market.

• Investments in automation and regulatory architecture are expected to drive further growth in 2025-2026.