Private Markets Emerge as ‘New Public’ as Investors Seek Pre-IPO Tech Access

A LinkedIn post from EquityZen highlights research indicating that the path to IPO now averages nearly 16 years and that private markets are increasingly functioning as a “new public” arena for growth companies. The post references the CB Insights Tech Trends 2026 report and suggests that, as part of Morgan Stanley, EquityZen is positioned within an emerging infrastructure for secondary trading in late-stage private firms.

According to the post, institutional backing of secondary market platforms may allow investors to access influential companies without relying solely on public stock tickers. The post notes that 12 unicorns now exceed the median S&P 500 market cap, implying that substantial enterprise value is being created and maintained in the private sphere.

The company’s LinkedIn post also cites internal data showing a 200% year-over-year increase in first-time investors on EquityZen seeking exposure to AI and robotics companies before they go public. This trend, if sustained, could indicate growing retail and accredited investor appetite for pre-IPO technology names and may support transaction volumes and fee-based revenue for platforms like EquityZen.

The post further references CB Insights data suggesting that leading AI startups are reaching $100 million in annual recurring revenue at record speed, often outside traditional public market visibility. For investors, this environment could shift part of growth-equity and tech exposure from listed markets to curated private-market access channels, potentially enhancing EquityZen’s strategic relevance within Morgan Stanley’s broader ecosystem.