The new Pisces market today took a step closer to coming to fruition after prospective operator JP Jenkins unveiled a new partnership with Belfast based investment firm Sapphire Capital Partners, allowing it to take advantage of the trading venue.
The online securities venue secured its licence from the Financial Conduct Authority in November, after London Stock Exchange operator LSEG was granted the first licence in August.
Under the terms of the agreement, Sapphire’s portfolio companies, which include juice shot brand Moju, can opt to have their shares traded on JP Jenkins’ private marketplace.
This allows them to broaden their investor base to a wider scope of institutional investors, high net worth individuals and sophisticated investors.
Boyd Carson, founder and chairman of Sapphire Capital, said: “We realised that the launch of the new PISCES operator licenses would present us with a unique opportunity, so we have partnered with JP Jenkins to provide new liquidity options and exit opportunities for investors in private companies.”
Pisces market
Pisces is a marketplace that allows investors to buy and sell shares in large private companies, with bodies now being granted licences two years after the Treasury first proposed it.
The platform promises to address a longstanding liquidity gap for growth companies and early investors
Meanwhile, it also grants an initial step for companies who are seeking to later float on a public index.
The security venue was the second operator to be awarded a licence, and hailed Pisces as able to “attract a greater variety of businesses and drive opportunities for investors”, through making it easier to trade in private businesses.
Companies who trade on JP Jenkins’ index includes mining company Omega Minerals and wine producer Gusbourne.
Andrew Foster, director of JP Jenkins, said: “This partnership with Sapphire Capital underlines the flexibility of the JP Jenkins offering, the relevance of the Pisces operator licenses to today’s market need and the power of the technology that sits behind it all.”