Nasdaq Private Market (NPM), a leading marketplace
for the efficient trading of private company stock, announced today
that it has appointed
Louis Citron as an
independent board member to its Board of Managers, effective
immediately. Mr. Citron will join representatives from some of the
world’s premier financial services brands, banks, and other asset
owners on the NPM Board. This announcement comes at a critical
inflection point for the company after it recently completed its
$62.4 million Series B funding round.
“We are thrilled to welcome Louis Citron to our
Board of Managers,” commented Tom Callahan,
Chief Executive Officer, Nasdaq Private
Market. “Through his distinguished career, Louis has been
an innovator, thought leader, and subject matter expert in the
venture capital industry. His extensive expertise in governance,
understanding of private market infrastructure, and passion for
this evolving space will be invaluable to us achieving our mission
of bringing fairness, efficiency, and transparency to this
fast-growing, multi-trillion-dollar asset class.”
Most recently, Mr. Citron served as the Chief
Administrative Officer and Chief Legal Officer of NEA, where he was
responsible for managing legal issues as they pertained to
investments, partnerships, operations, and regulatory compliance in
the U.S. and abroad. He also was a senior leader in structuring and
implementing new strategic initiatives at the firm.
Prior to NEA, Mr. Citron was a Senior Vice
President and the General Counsel of ING Group N.V.'s U.S. mutual
fund operations, which he joined at its inception and helped grow
to over 20 fund offerings with more than $1.5 billion under
management. He started his career in the financial services
practice of the law firm Kramer Levin, specializing in venture
capital operating companies, domestic and off-shore hedge funds,
mutual funds, closed-end funds, investment advisers, and
broker-dealers.
Mr. Citron previously served on the Board of
Directors of Aumni and Deutsche Bank’s Topiary Funds as well as the
Conflicts Advisory Board of the offshore hedge funds managed by
Deutsche Asset Management's Absolute Return Strategies Group. He
currently serves on the Board of Directors of Readykids, a
501(c)(3) non-profit that provides counseling, family support, and
early learning opportunities to children and those who care for
them.
Mr. Citron earned an AB in economics from Duke
University (magna cum laude), a JD from Duke University School of
Law, and an LLM in taxation from New York University School of
Law.
“Louis is a highly respected leader with a
proven record for delivering strong results across our industry,”
said Gary Offner, Senior Vice President and Head of Nasdaq
Ventures, Nasdaq, and Chairman of the Board of
Managers, Nasdaq Private Market. “NPM is at an inflection
point following its Series B funding round, and we are confident
that Louis’ expertise will help us advance the maturity and
efficacy of the private markets. The Board and I look forward to
working closely with him to execute on NPM’s growth strategy and
deliver for our clients and partners.”
NPM partners with some of the world’s
fastest-growing, venture-backed private companies to facilitate
company-sponsored liquidity programs. Its
SecondMarket™ trading marketplace is gaining adoption by
sellers and buyers who trade private company shares. The company’s
patent-pending Transfer and Settlement product efficiently manages
share transfer activity from match through settlement for some of
the most sophisticated private companies, banks, and brokers. Its
private market data helps individuals and entities better evaluate
global investment opportunities.
As an industry-leading provider in the secondary
market, NPM has executed more than $50 billion in transactional
value across over 700 company-sponsored liquidity programs for
venture-backed private companies as well as 190,000 individual
eligible shareholders and investors.
About Nasdaq Private
MarketNasdaq Private Market operates a proprietary
secondary marketplace and acts as a premier liquidity provider for
private company trading and transactions. Through innovative
technology and an experienced capital markets team, NPM supports
the needs of corporate, institutional, and retail clients. Founded
in 2013, the company provides solutions for private companies
throughout each stage of their pre-IPO lifecycle. NPM’s product
specialists facilitate private company stock transactions including
tender offers, auctions, block trades, company-directed windows of
liquidity, and pre-direct listing continuous trading.
Nasdaq Private Market is an independent company
with strategic investments from Nasdaq, Inc., Citi, Goldman Sachs,
Morgan Stanley, Allen & Company, BNP Paribas, DRW Venture
Capital, UBS, and Wells Fargo.
Learn more at www.nasdaqprivatemarket.com.
Disclosures and Disclaimers
NPM is not: (a) a registered exchange under the
Securities Exchange Act of 1934; (b) a registered investment
adviser under the Investment Advisers Act of 1940; or (c) a
financial or tax planner and does not offer legal or financial
advice to any user of the NPM website or its services.
Securities-related services are offered through NPM Securities,
LLC, a registered broker-dealer and alternative trading system, and
member FINRA/SIPC. Transactions in securities conducted through NPM
Securities, LLC are not listed or traded on The Nasdaq Stock Market
LLC, nor are the securities subject to the same listing or
qualification standards applicable to securities listed or traded
on The Nasdaq Stock Market LLC.
Please read these other important disclosures and disclaimers
about NPM found here:
https://www.nasdaqprivatemarket.com/disclosures-disclaimer/
NPM Media Contacts
Amanda Gold (New York) –
Amanda.Gold@npm.comChief Marketing
Officer, Nasdaq Private Market