Absolute Return Podcast #265 - Pre-IPO Investing with EquityZen Co-Founder Phil Haslett
Jan 12, 2026
Phil Haslett, Co-founder and Chief Strategy Officer of EquityZen, shares his insights on the challenges of building a marketplace for pre-IPO shares. He explains why companies are opting to stay private longer, the growing opportunities for investors in pre-IPO assets, and the evolution of his platform from institutional to retail access. Phil also emphasizes the importance of diversification in investments and offers key advice for entrepreneurs facing uncertainty in their journeys.
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Founding Spark: A Personal Liquidity Problem
- Phil Haslett recounts meeting his co-founder who needed liquidity for private company shares and recognized the market pain firsthand.
- That conversation and Phil's experience with illiquid markets led them to found EquityZen to structure private-share liquidity.
Digital Infrastructure Beats Analog Brokering
- Early private-share brokers were largely manual phone operations with high friction and fees.
- Building digital infrastructure and standardizing paperwork and KYC would be a major advantage in pre-IPO markets.
The Company Is A Required Third Party
- Every private-share transaction involves a buyer, a seller, and the issuing company, making issuer engagement essential.
- Proactively working with companies to design employee liquidity programs reduces friction and improves access.