BNP Paribas Announces Investment in Forge and Launches Industry-First Investment Product focused on Pre-IPO Securities
NEW YORK and SAN FRANCISCO, April 03, 2019 (GLOBE NEWSWIRE) -- BNP Paribas, a leading European provider of banking and financial services, announces an equity investment in Forge Global, Inc. (“Forge”), the leading marketplace for pre-IPO securities, in addition to a strategic product collaboration. The collaboration will involve the development and distribution of investment products providing exposure to Pre-IPO / private innovation companies. Angel Rodriguez-Issa, Global Head of Strategic Investments at BNP Paribas Global Markets, joins Forge’s board as an observer.
In response to increasing global customer demand for investment opportunities and economic exposure to shares of Pre-IPO / private innovation companies, BNP Paribas’ world-renowned derivatives group has collaborated with Forge to create a structured equity product that is the first of its kind in this asset class. Leveraging Forge’s technology, data and global relationships across “unicorn” firms, the product will be linked to a diversified basket of private shares. The selection process for the securities held in the aforementioned investment product is based on similar criteria used by venture capitalists.
“This relationship represents a sea change not just for global investors but for high-growth companies seeking liquidity,” said Kelly Rodriques, CEO of Forge. “With BNP Paribas, and through the Forge platform, we’re bringing cutting edge financial products to market that provide investors unprecedented access to pre-IPO securities while presenting new options for private companies to raise money and control their financial future.”
With over 300 unicorns in the world, representing over $1 trillion in enterprise value, many investors – including institutional and high net worth clients of global banks – are looking for access to these private innovation companies.
“Institutional investment in pre-IPO companies is a new market for BNP Paribas, which we believe will be compelling to our clients who are looking to diversify their portfolios and tap into private technology growth potential,” said Nicolas Marque, Global Head of Equity Derivatives at BNP Paribas. “As one of the first banks to engage in this type of strategic collaboration, BNP Paribas continues to demonstrate our commitment to providing leading-edge solutions to our institutional and corporate clients.”
“The introduction of a structured product solution solves a clear access need to private equity exposure,” added Sohail Prasad, Founder and President of Forge. “The market has demonstrated strong demand for innovation companies across all investor types. We’re incredibly excited to partner with BNP Paribas for the launch of a $1 billion series of investment products and look forward to further collaboration to enable liquidity in this asset class.”
About Forge Global, Inc.
Forge is a premier trading, settlement and custody partner for a wide range of investors in the private markets. Established in 2014 as Equidate Inc., the company empowers investors and shareholders by enabling liquidity in the private markets and has completed nearly $2 billion in transaction volume since inception. Forge was founded by Y Combinator alumni and backed by top investors including Tim Draper, Peter Thiel, FT Partners and Munich Re. Forge's platform allows employees and investors in privately held innovation firms to liquidate a portion of their shares, and provides private and institutional investors access to top companies like Spotify, Lyft, and 23andMe before their IPO.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 72 countries, with more than 202,600 employees, of which almost 155,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Media Contact for Forge:
Hotwire Global Communications Agency
Media Contacts for BNP Paribas:
+1 212 841 2351
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
AMG Advanced Metallurgical Group N.V. Announces Weekly Share Repurchase Program Transaction Details19.7.2019 21:00:00 CEST | Press release
Amsterdam, 19 July 2019 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") reports the repurchases made under its share repurchase program announced on 8 April 2019 and effective from 9 April 2019. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period 15 July 2019 through 19 July 2019 can be found in the bottom half of the table below. Further detailed information regarding both the progress of the share repurchase program and the overall trades made on a daily basis can be accessed via the Investors section of the Company’s website, or clicking the following link: https://amg-nv.com/investors/share-buyback/ Share Repurchase Program Overall progress Share Repurchase Program: Total Repurchase Amount in Shares 2,915,630 Cumulative Repurchase Amount EUR 63,511,098 Cumulative Quantity Repurchased 2,534,054 Cumulative Average Repurchase Price EUR 25.06 Start Date 9 April
Ossur Hf : Össur acquires College Park Industries19.7.2019 17:00:00 CEST | Press release
Reykjavik, 19 July 2019 Össur has signed an agreement to acquire College Park Industries, a global provider of lower and upper limb prostheses and supporting services. College Park has over 140 employees and is headquartered in Detroit, USA. Total sales amounted to USD 22 million in 2018. College Park will largely remain independent and continue to diligently serve its customer base, while allowing the combined entity to achieve strategic efficiencies. Össur is committed to growing the College Park brand over the coming years both in the United States and international markets. Together, both companies will be well-positioned to enhance their offerings in both lower and upper limb prosthetics. With this acquisition, Össur hopes to support College Park’s focus on the lower active population and further strengthen its established presence in the upper limb arena. Mutual access to technology and products will enable a more comprehensive product and service offering to customers around the
Banks net position in the Riksbank19.7.2019 16:47:00 CEST | Press release
JUL 19, 2019 SEK MILLION LENDING BORROWING 277
Norsk Hydro: PÅMINNELSE: Invitasjon - Presentasjon av Hydros resultat for andre kvartal 201919.7.2019 14:43:00 CEST | Pressemelding
Hydros resultat for andre kvartal 2019 blir offentliggjort tirsdag 23. juli 2019 kl. 07.00. Kvartalsrapporten og presentasjonsmaterialet blir samtidig gjort tilgjengelig på www.hydro.com. Presentasjon i Oslo Det blir holdt en kombinert analytikerpresentasjon og pressekonferanse ved Hydros hovedkontor i Drammensveien 260, Oslo, samme dag, kl. 08.30. Resultatet blir presentert av konsernsjef Hilde Merete Aasheim og konserndirektør for Økonomi og finans Eivind Kallevik. Hele presentasjonen kan sees direkte på web-TV. For påmelding, vennligst send mail til firstname.lastname@example.org. I tillegg til web-TV, hvor det vil være mulig å stille spørsmål skriftlig, vil det også være mulig å ringe inn (ikke mulig å stille spørsmål over telefon). Du melder deg på denne telefonkonferansen ved å ringe: Norge +47 2100 2610 UK +44 (0)330 336 9125 USA +1 929-477-0324 Sverige +46 (0)8 5033 6574 Brasil +55 11 3181 5427 Tyskland +49 (0)89 20303 5709 Kode: 3104804 Q&A / Telefonkonferanse Det blir holdt en telefonkonferans
Norsk Hydro: REMINDER: Invitation - Hydro’s second quarter results 201919.7.2019 14:43:00 CEST | Press release
Hydro's second quarter results 2019 will be released at 07:00 CEST (01:00 AM EDT, 06:00 UK time), on Tuesday July 23, 2019. The quarterly report and presentation slides will be available on www.hydro.com at the same time. Presentation in Oslo Hydro will host a combined analyst and press conference, in English, at its corporate headquarters at Drammensveien 260, Oslo, at 08:30 CEST the same day. The presentation will be held by President and CEO Hilde Merete Aasheim and CFO Eivind Kallevik and can also be seen on web TV. To attend the presentation in Oslo, please register by sending a mail to email@example.com. In addition to the webcast, where it will be possible to ask questions in writing, it will also be possible to dial in (not possible to ask questions over the phone). Dial-in numbers for this conference call are: Norway +47 2100 2610 UK +44 (0)330 336 9125 USA +1 929-477-0324 Sweden +46 (0)8 5033 6574 Brazil +55 11 3181 5427 Germany +49 (0)89 20303 5709 Confirmation Code: 3104804 Q&A
Sunstone Life Science Ventures invests in Karolinska Development's portfolio company Forendo Pharma19.7.2019 14:00:00 CEST | Pressemelding
STOCKHOLM – July 19, 2019. Karolinska Development's portfolio company Forendo Pharma announces today that Sunstone Life Science Ventures joins the existing international investor syndicate and has made a EUR 5 million investment in Forendo Pharma. Claus Andersson, General Partner from Sunstone, joins Forendo Pharma’s Board of Directors. With the investment, Sunstone joins the existing international investor syndicate comprising Novo Seeds, Karolinska Development, Innovestor, Novartis Venture Fund, M Ventures and Vesalius Biocapital Partners. The new financing will enable Forendo Pharma to progress its lead endometriosis program, FOR-6219, an HSD17B1 enzyme inhibitor, into the next phase of clinical studies after the successful completion of its Phase 1a study earlier this year. Endometriosis is a chronic condition that affects many women of reproductive age and causes repeated pain symptoms, infertility and impaired quality of life. Currently available treatments for endometriosis have