Tokenized Private Equity Platforms

Introduction

The convergence of blockchains and traditional finance is creating new pathways for asset tokenization, with private equity emerging as one of the most compelling use cases for disruption. While institutional investors have long enjoyed exclusive access to high-performing private markets, blockchain-based applications are now enabling the creation of liquid, fractional, and globally accessible alternatives to traditional private equity investing. This transformation is being driven by two distinct architectural approaches: direct equity tokenization and perpetual futures that provide exposure without underlying asset ownership. This report analyzes the emerging tokenized private equity landscape through examination of two platforms—PreStocks and Ventuals—that represent fundamentally different strategies for democratizing private market access. Through comprehensive analysis of their business models, technical architectures, market positioning, and risk profiles, we evaluate the viability of tokenized private equity as both an investment thesis and a sustainable business model, while assessing the broader implications for how private markets may evolve in an increasingly digital financial ecosystem.

Market Opportunity

The private equity market has generated approximately three times the returns of public markets over the past 25 years, yet remains structurally inaccessible to over 97% of global investors. 

Global private equity secondary markets are projected to reach $175B of volume in 2025, an increase over the $152B of volume in 2024. Traditional trading venues are highly fragmented and opaque, with varying brokerage fees and investment minimums. Prices vary significantly venue to venue, and in some cases won’t update until deals are made public, creating multi-month delays in price signals. With companies staying private for an average of 12+ years—up from 4 years in 2000—the demand for innovative access solutions has reached an inflection point, opening the door for tokenized private equity platforms.