Clear Street Launches Pre-IPO Platform With Access to $188B AI Giant Databricks

Accredited investors seeking early stakes in Silicon Valley's most valuable AI giants are getting a new gateway. Fintech brokerage Clear Street is launching a private markets platform that offers pre-IPO access to late-stage startups, beginning with the $188 billion AI software titan Databricks.

As tech companies increasingly delay their public debuts, the bulk of their wealth creation is happening behind closed doors. This new platform targets investors who want direct exposure to high-growth firms like Databricks, Anthropic, and OpenAI before they hit the public markets.

Clear Street aims to differentiate its offering by handling asset servicing and risk management internally. This infrastructure allows the firm to offer margin loans against pre-IPO holdings, a financing option that remains rare in private markets.

To bring public-market-style transparency to these traditionally opaque investments, the company is also introducing dedicated private-company equity research led by analyst Owen Lau. By the end of the year, Clear Street plans to host up to 30 startups on the platform, primarily focusing on tech firms valued between $5 billion and $20 billion that are roughly six to 24 months away from an initial public offering.

The goal is to remove friction and give more people the ability to invest in more products. A lot of the wealth creation has been in private markets, and more and more retail investors and smaller investors want to be part of that.

- Uri Cohen, CEO and Co-founder, Clear Street

The expansion arrives as Clear Street navigates its own path to the public markets. Valued at nearly $12 billion during a private funding round earlier this year, the prime brokerage paused its IPO plans in February amid broader market volatility.

Despite the delay, the firm remains cash-flow positive and recently bolstered its liquidity with a $400 million investment-grade bond offering. Cohen noted that the company is operating from a position of strength and is now targeting a potential listing in 2027, contingent on market conditions.

Clear Street’s move to offer margin loans against pre-IPO shares is a significant structural shift for private market investing. Traditionally, capital locked in late-stage startups is highly illiquid, forcing investors to wait years for an exit event. By allowing accredited investors to borrow against these holdings, Clear Street is effectively treating late-stage private equity with the same financial utility as publicly traded stocks.

This launch also highlights an escalating arms race on Wall Street. With Goldman Sachs recently expanding its own private-company offerings for wealthy clients, the competition to capture pre-IPO wealth is intensifying. If Clear Street successfully scales its platform to 30 companies by year-end, it could force legacy brokers to lower their barriers to entry, ultimately reshaping how late-stage tech valuations are established before they ever ring the opening bell.