Clear Street launches pre-IPO platform with Databricks access

Clear Street is launching a new platform that will let accredited investors gain exposure to latestage private companies, starting with Databricks, the AI software firm recently valued at $188 billion. The broker said it plans to add as many as 30 private companies to the platform by the end of the year. The offering is designed to help investors finance preIPO positions and includes dedicated research on private companies, led by analyst Owen Lau. Clear Street says the goal is to make privatemarket investing more transparent and easier to access, even as many of these companies remain closely controlled. The move comes as major financial firms compete to serve demand for privatecompany exposure before public listings. Clear Street also said Databricks is not directly involved in the arrangement, since investors will buy interests through a special purpose vehicle tied to a thirdparty fund rather than shares issued by Databricks itself.