Firstpex
{{More citations needed|date=November 2019}}
{{Infobox company
| name = Firstpex
| logo = Firstpex.jpg
| industry = Private equity
| founded = 2011
| founder = Patrick Gruhn
| defunct = {{End date|2016}}
| website = {{URL|http://www.firstpex.com/}} (site no longer exists)
}}
FirstPEX was a private electronic market for private equity transactions based in Switzerland.
History
The platform was founded by Patrick Gruhn in 2011.{{Cite web |title=Europe needs a second market |url=https://www.newbusiness.co.uk/articles/entrepreneurs/europe-needs-a-second-market |access-date=2023-06-13 |website=www.newbusiness.co.uk |language=en}} At the time of its launch, it was compared to the American SecondMarket.{{Cite news |date=2011-11-15 |title=CORRECTED-Advisor opens new line on SME funding |language=en |work=Reuters |url=https://www.reuters.com/article/smes-platform-idINL5E7ME48Y20111115 |access-date=2023-06-13}} Through a partnership with UK-based Autumn Capital Partners the platform was expanded outside of Switzerland to the rest of Europe.{{cite web |url=https://www.institutionalinvestor.com/article/b150zrglzmzf03/swiss-tech-firm-extends-platform-to-europe |title=Swiss Tech Firm Extends Platform To Europe |date=November 15, 2011 |website=Institutional Investor |access-date=April 18, 2021}} The platform was not subject to the regulatory supervision by the Swiss Financial Market Supervisory Authority (FINMA); however it was subject to authorization in Europe.{{cite web|url=https://www.reuters.com/article/businesspro-us-switzerland-trading-idUKTRE75R2G920110628 |title=Trading platform could put price on Ikea and Bosch |last1=de Sa’Pinto |first1=Martin |last2=Cage |first2=Sam |publisher=Reuters |date=June 28, 2011 |accessdate=May 1, 2021}}
The company was dissolved in 2016.{{Cite web |title=FIRSTPEX LTD overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/08248488 |access-date=2023-06-13 |website=find-and-update.company-information.service.gov.uk |language=en}}
Features
The site required users to purchase a paid membership in order to trade.{{Cite web |date=2011-09-27 |title=LPO launches FirstPEX to trade privately-owned shares and investments {{!}} Hedgeweek |url=http://www.hedgeweek.com/2011/08/03/126583/lpo-launches-firstpex-trade-privately-owned-shares-and-investments |archive-url=https://web.archive.org/web/20110927183558/http://www.hedgeweek.com/2011/08/03/126583/lpo-launches-firstpex-trade-privately-owned-shares-and-investments |archive-date=2011-09-27 |access-date=2023-06-13 |website=Hedgeweek}} It allows qualified investors to buy and sell equities in privately owned to each other through a bidding process which enables the parties to find a mutually agreeable price.{{cite news |last=Arnott |first=Sarah |date=2011-08-08 |title=Small Talk: The engineers who are building human tissue - Sharewatch - Business |work=The Independent |url=https://www.independent.co.uk/news/business/sharewatch/small-talk-the-engineers-who-are-building-human-tissue-2333641.html |accessdate=2012-01-19}}{{Cite web |title=Private company share trading platform launches |url=https://www.telegraph.co.uk/finance/yourbusiness/8675099/Private-company-share-trading-platform-launches.html |access-date=2023-06-13 |website=www.telegraph.co.uk}} The site's primary userbase was made up of entrepreneurs, investors and business owners, in which negotiations and the exchange of information on investment transactions is covered prior to closing transactions.
The site also allowed users to trade in non-liquid assets. The site was based on the Django web framework, and had functionality to navigate through listings according to various of criteria such as asset class, investment volume, country of origin, sector and industry. Its features also included a live chat and a data room for the secure sharing of files.
References
{{reflist}}
External links
- [http://www.firstpex.com/ Official website]
- {{cite web|url=http://webfarm.bloomberg.com/apps/news?pid=20670001&sid=aKHfJHLTAxKE |title=First Online Market to Trade Shares in Privatelyx-Owned European Companies Launches |publisher=Webfarm.bloomberg.com |date=2011-08-02 |accessdate=2012-01-19}}
- {{cite web|url=http://www.privateequitymanager.com/PrintView.aspx?aid=62471&type=2&hashID=50EA411EBAF205EEADA4852F51B3D31D1B7F7A14 |title=Europe gets its own 'SecondMarket' |publisher=Privateequitymanager.com |date=2011-08-04 |accessdate=2012-01-19}}