Hiive is rebranding as Clarity, expanding its positioning from a private-market secondary transaction marketplace into a broader financial services platform for primary and secondary investing, shareholder liquidity and private-market access. The company is launching new funds, institutional trading, market-data and portfolio-management capabilities alongside the rebrand.

Private-market investing is becoming increasingly dependent on technology that can connect investors, companies and liquidity providers across fragmented transactions. Hiive, which built its business around secondary trading in private-company shares, is responding to that shift by rebranding as Clarity and expanding its platform beyond the secondary marketplace.

The company said the new Clarity platform is designed to support the broader capital-market needs of highly valued private companies, including capital raising, shareholder liquidity, institutional investing and private-market access for registered investment advisors.

The rebrand, announced September 22, comes with five major platform additions: a funds marketplace, institutional interface, deeper private-market data, institutional-grade transaction execution and portfolio management. Clarity said the products are intended to bring primary and secondary investing into a unified technology environment.

That represents a notable change in the role of a private-market platform. Rather than concentrating solely on matching buyers and sellers of private-company shares, Clarity is positioning its technology as infrastructure connecting several participants in the private-capital ecosystem.

The new funds marketplace will allow investors to discover private-market funds and access a resale market for existing fund interests. The institutional interface is designed to let larger investors aggregate smaller listings anonymously, potentially reducing the signaling associated with visible accumulation of private-company positions.

Clarity is also adding deeper information around pricing, supply, demand and company valuations. Once an investor identifies an opportunity, the platform’s transaction workflows are designed to manage documentation, approvals and settlement.

The company is extending that workflow into portfolio management, allowing investors and advisors to track private holdings through a single interface.

The expansion comes as private markets deal with a structural liquidity challenge. Companies are remaining private for longer, while investors and employees increasingly need mechanisms to buy or sell positions without waiting for an IPO or acquisition.

McKinsey’s 2026 Global Private Equity Report found that private-market secondary transaction value reached $240 billion in 2025, up 48% from the previous year. GP-led secondary transactions reached $115 billion, more than triple their 2020 level, as continuation vehicles and other liquidity mechanisms became more prominent.

Those figures cover the broader private-equity secondary market rather than Clarity’s specific segment, but they illustrate the growing importance of liquidity infrastructure across private capital.

Longer holding periods are another factor. McKinsey reported that private-capital-backed companies had average holding periods of about six years in 2025, adding pressure on sponsors to manage portfolios and create additional liquidity pathways.

For private technology companies, the challenge extends beyond shareholder exits. Issuers increasingly need ways to manage employee liquidity, structured tender offers, secondary transactions and new capital without immediately entering public markets.

Clarity’s existing issuer business already supports primary capital, secondary trading, share buybacks, executive block transactions and tender offers. Its new positioning therefore connects the company’s marketplace origins with a wider private-market financial technology model.

The platform is also targeting institutional and wealth-management distribution. Clarity’s partner infrastructure includes APIs for white-label private-market access, transaction execution and settlement, market data and liquidity transfers. The company specifically identifies investment platforms, digital brokerages and RIA distribution channels as potential integration partners.

That API approach reflects a broader development in financial technology: private-market investing is increasingly being treated as an infrastructure layer that can be embedded into existing wealth-management and investment platforms rather than delivered only through standalone marketplaces.

Clarity’s scale provides some context for the expansion. The company says it has closed more than $6 billion in transaction volume, with securities from more than 400 private issuers traded through its platform. Its in-house investment funds business has generated more than $2 billion in assets under management, according to the company.

Clarity’s website currently reports more than $6 billion in closed transactions and says more than 147 companies manage liquidity through the platform. It also says 95% of tier-one venture capital firms work with the platform, based on its own stated methodology and sources.

The company operates regulated activities through Clarity Capital Limited, including a FINRA-member firm and an SEC-registered alternative trading system, as well as an exempt-market dealer in Canada.

The technology challenge is consequently broader than simply improving private-stock discovery. Private securities can carry transfer restrictions, company approval requirements and limited price transparency. Clarity’s platform is attempting to bring more standardized workflows around those processes while retaining the restrictions inherent to private securities.

For institutional investors, market intelligence and execution infrastructure can help reduce the operational burden of sourcing and closing private transactions. For companies, centralized liquidity management can provide another mechanism for handling shareholder needs. For advisors, integrated private-market access could make alternative investments easier to incorporate into existing wealth-management workflows, subject to applicable investor eligibility and regulatory requirements.

The transition from Hiive to Clarity therefore reflects an expansion from private-market marketplace technology toward broader capital-markets infrastructure. The company is not abandoning secondary trading; it is incorporating secondary transactions into a wider system covering primary capital, fund interests, institutional execution and portfolio management.

As private markets continue to develop alongside traditional public exchanges, the infrastructure connecting capital, pricing, liquidity and settlement is becoming an increasingly important part of financial technology. Clarity’s rebrand places that infrastructure at the center of its next phase.

Market Landscape

Private markets are entering a period in which liquidity and transaction infrastructure are becoming increasingly important. McKinsey’s 2026 research found that secondaries reached a record $240 billion in transaction value in 2025, while GP-led transactions reached $115 billion.

The broader private-capital market is also seeing longer holding periods and growing use of continuation vehicles and other liquidity mechanisms. McKinsey reported approximately $1.2 trillion in private-capital M&A deal value during 2025, up 54% from 2024, while private-capital-backed companies continued to face pressure around exits and portfolio liquidity.

Within this environment, platforms such as Clarity are competing across several overlapping categories: private-company secondary marketplaces, alternative investment platforms, digital wealth infrastructure, institutional trading technology and private-market data services.

The technology opportunity is increasingly centered on connecting discovery with execution. Investors need pricing and market intelligence; companies need shareholder-liquidity tools; advisors need distribution infrastructure; and institutions need workflows capable of handling compliance, approvals and settlement.

Top Insights

• Hiive is becoming Clarity as the company expands from private-stock secondary trading into broader primary and secondary capital-market infrastructure.
• The new platform adds funds discovery, institutional trading workflows, deeper market intelligence and private-portfolio management capabilities.
• McKinsey reports that private-market secondary transaction value reached $240 billion in 2025, up 48% from the previous year.
• Clarity says it has closed more than $6 billion in transactions involving securities from more than 400 private companies.
• APIs allow investment platforms, digital brokerages and RIAs to embed private-market access, liquidity and transaction workflows.

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