Forge Global (formerly Equidate) is the leading secondary stock marketplace for growth stage, private technology companies. Munich Re’s New Technologies and Internet of Things Underwriting (New Tech) group works with startups to develop new insurance solutions for their businesses. The New Tech group first met portfolio company Forge Global in early 2015, when Forge had only raised a small round of seed financing.
Working together, the New Tech group and Forge Global created an insurance solution to protect buyers in secondary transactions against counter-party risk (more info here). The first insurance policy was signed in November 2015, less than a year after the initial meeting. This specialized insurance solution helped Forge Global build confidence among buyers on the platform and the company’s traction grew substantially in the following years. In 2018, Forge Global raised an $80m Series B financing in which Munich Re Ventures participated along with other premier investors. Forge Founder & President, Sohail Prasad said, “Since its inception, Forge has worked to provide a suite of services to the private market economy. With this innovative solution, Munich Re and Forge can help further de-risk secondary market transactions.”