https://techcrunch.com/2018/07/25/in-hot-market-for-secondary-shares-one-player-equidate-just-locked-down-50-million-in-new-funding/

Equidate, a 4.5-year-old, San Francisco-based marketplace that makes privately held shares available to accredited investors wanting to buy them, is announcing a whopper of a round this morning: $50 million in Series B funding from Financial Technology Partners, Panorama Point Partners, and Operative Capital. The company had earlier raised only very small seed and Series A rounds from renowned investors Scott Banister, Tim Draper, and Peter Thiel.

The round is entirely unsurprising, given the circle of life for many venture-backed startups, which is to raise capital, raise more capital if your company takes off, then . . . raise even more capital — sometimes a staggering amount — while pushing off an IPO or sale for as long as possible. (After all, at this point, you need to ensure that when you do make a move, your company is valuable enough to return all that money and then some.)