Investors Will Watch Private Tech Firms Before IPOs
As firms stay private longer, your portfolio may see increased exposure to companies like Anthropic before they hit the public exchange.
Updated on Oct. 10, 2026 in Financial Planning
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With companies now remaining private for over 11 years on average before initial public offerings, investors are increasingly turning to new strategies to access private capital. Wealth managers are monitoring major funding rounds and anticipated listings, such as the potential October 2026 Nasdaq debut for Anthropic.
Why it matters
Companies are delaying public entry, meaning traditional public market valuations at an IPO may already reflect years of significant growth. Advisors are using alternative structures to gain exposure to these high-growth firms before they reach the general public market.
Financial advisors managed $2.2 trillion in private capital at year-end 2025, while specialized interval funds held approximately $132 billion to offer periodic liquidity. Companies like Anthropic recently reached a $965 billion valuation, with reports suggesting a target exceeding $1.5 trillion.
The players
Anthropic
An artificial intelligence company currently valued at $965 billion that is preparing for a potential public listing.
SpaceX
A private aerospace company that raised $75 billion during a market debut in June 2026.
ABS Global Investments
A Stamford, Connecticut-based firm that launched a specialized fund to provide access to pre-IPO growth companies.
The details
Investors access these private companies through registered 40 Act interval funds, which provide a window for liquidity. Unlike standard mutual funds, these vehicles buy back between 5% and 25% of shares at periodic intervals. This allows retail and institutional investors to hold stakes in firms that have not yet undergone a public listing, such as the SpaceX market debut that raised $75 billion in June 2026.
Timeline
Year-end 2025: Financial advisors held $2.2 trillion in private capital.
February 2026: ABS Global Investments launched a Pre-IPO & Growth Fund.
May 2026: Anthropic received a $965 billion valuation.
June 2026: SpaceX raised $75 billion in a market debut.
October 2026: Anthropic targets a potential Nasdaq listing.
Money Landscape
The shift toward private markets reflects a broader trend where companies remain private for over 11 years on average. This represents a major departure from earlier decades when firms typically sought public market liquidity much sooner in their growth cycle.
If you are exploring exposure to private companies through interval funds, review the specific liquidity windows that limit your ability to withdraw cash. Discuss with a qualified financial professional how these illiquid assets align with your long-term goals and required cash reserves.
The takeaway
The move toward longer periods of private growth means that high-valuation exits may be largely captured before an IPO occurs. Check your current portfolio statement to see if any existing funds hold private capital assets or if your strategy would benefit from reviewing these alternatives.
What happens next
Anthropic is targeting a potential Nasdaq listing in October 2026, which may influence market sentiment toward private-to-public transitions.
Further reading
To learn more about managing your investment goals, visit the Financial Planning section.
Source note: This article includes information reported by InvestmentNews.
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