FCX operates Australia’s first licenced secondary market for private company equity, offering approved investors a structured, regulated pathway into private markets. Because FCX is issuer-led, companies determine the timing and format of liquidity events. Approved investors can participate through a primary capital raise, a tender market, or an auction market.
FAQs
Are private companies on the stock market?
No, private companies are not listed on the stock market, which means they have historically been difficult to access for most investors. As the trend of companies staying private for longer continues, accessibility to these companies is critical. FCX addresses this directly, providing approved investors with access to private company equity through a regulated, transparent environment that mirrors many of the regulations found in public markets.
As ASIC chair Joe Longo stated “With new platforms like FCX entering the Australian market, new bridges are being built between public and private markets.”
How to buy shares in private companies
FCX holds a first-of-its-kind Australian market licence that enables investors to buy shares in private companies through a regulated, transparent platform. Private market investment in Australia has historically operated without the regulation and structure that public markets offer. FCX changes that, providing approved investors with pathways to access private companies – most commonly through tender markets and auction markets.
Are companies staying private longer?
Recent research has shown that companies are increasingly staying private for longer – see our Private Markets Liquidity Problem blog for a deeper look at the data. The number of IPOs in Australia has fallen significantly over the past decade, while many of the largest Australian and global companies have opted to remain private. At the same time, assets under management (AUM) in venture capital and private equity continue to grow. The result is a growing pool of private wealth that investors have no simple means of accessing, effectively ‘trapping’ this capital until an IPO or acquisition. FCX exists to solve this, providing structured and regulated liquidity solutions that allow investors to access liquidity on an ongoing basis.
What is an 'ESOP'?
An Employee Share Ownership Plan (ESOP) is a scheme through which companies offer employees equity in the business, typically as a means of attracting and retaining key talent. Most ESOPs are structured using ‘vesting’, meaning employees receive progressively greater ownership rights the longer they remain with the company. This aligns employee incentives with the long-term growth of the business.
How can employees gain access to their ESOP?
For employees, financial rewards from an ESOP have typically been difficult to access. Without a public listing or sale of the business (acquisition), there has been no reliable way to convert this equity into cash.
FCX has revolutionised this. Through regulated secondary liquidity events, employees can sell their shares in a structured, transparent environment – without needing to wait for an IPO.
How can investors access returns from private company growth?
For early investors in private companies, converting equity into real returns has historically depended on a single outcome: an IPO or acquisition. Without this, there has been no reliable mechanism to access the value accumulated in a business. FCX changes this. As Australia’s only fully licensed private markets platform, FCX facilitates regulated secondary liquidity events that allow investors to sell their shares in a structured, transparent environment, without waiting for a public listing.
