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Morgan Stanley to buy private shares platform EquityZen

M & A Critique

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November 2025

Investment banking giant Morgan Stanley said it will buy private shares platform EquityZen, as Wall Street races to meet growing investor demand for stakes in fast-growing startups.

Major financial institutions are increasingly looking beyond public markets, building capabilities to connect clients with private companies, provide liquidity for prePO shares and capitalize on the rising appetite among investors for early exposure to high-growth startups.

By owning a platform that facilitates trading in pre-IPO shares, banks like Morgan Stanley can capture fees, gain insight into private-market valuations and strengthen relationships with clients seeking exposure to private equity opportunities.

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