Private markets should work like markets. Today Augment is launching the Private Liquidity Network. Details in the thread.

How a company makes the Power 20: eight inputs, normalized 0 to 1. Order-book depth, spreads, quarterly price change, prior rank, revenue and revenue growth. Spread, growth and prior rank weigh about twice the rest.

augment.market/the-power-20

The @Nasdaq-100 fell 6.4% Thursday, erasing $2.3 trillion in market value, @business reports. Today's Pulse covers the selloff, @OpenAI’s data center commitments and the latest funding rounds.

augment.market/pulse/nasdaq-1…

Informational only. Not investment advice or a recommendation to buy or sell any security. @AugmentMarkets and/or its affiliates hold positions in OpenAI.

Five years ago, Marissa Faris was getting her MBA in Florida, playing lacrosse and building a startup around a NASA patent. Today she's on Fund Operations at Augment, keeping investors updated through IPO and SPV liquidity events.

Her take: the defense tech space is evolving, and she's paying close attention. Her other take: Tampa sports peaked in 2021. Champa Bay forever.

We're hiring: augment.market/jobs

Many AI companies want one set of national rules. What would they accept in exchange?

The Pulse looks at who those rules could cover, what compliance could require, and who could bear the costs. augment.market/pulse/what-ai-…

Not investment advice or a recommendation to buy or sell any security. Augment and/or its affiliates hold a position in OpenAI.

We're hiring three lawyers at Augment.

Private-market equity transactions still run on email chains, PDFs and wire instructions. We're building software to handle more of that work, and our legal team has a direct hand in how it works.

Open roles:

Director, Legal, Capital Markets (7+ yrs): $185K–$245K + equity lnkd.in/gqZgj2XK

Senior Legal Counsel, Capital Markets (4–7 yrs): $160K–$215K + equity
lnkd.in/grexUDhd

Senior Legal Counsel, Commercial & Product (4–7 yrs): $145K–$190K + equity lnkd.in/gcpzdeyi

All three roles include meaningful equity, 100% employer-paid medical, dental and vision, unlimited PTO and remote-first flexibility. New York or Austin preferred, depending on the role.

And if someone comes to mind, send this their way.

AI companies want federal rules that replace a patchwork of state laws. What will they have to accept in exchange?

The new Congress will help shape who pays for AI safeguards—and what it costs to compete. cc @AugmentMarkets

augment.market/pulse/what-ai-…

1/Two days in Switzerland: back-to-back @AugmentMarkets meetings with executives from Swiss private and investment banking. We talked private markets and late-stage companies, and how Europe views what's happening in the U.S.

A client's IPO liquidity calendar gets set well before the stock lists. Augment's @adamcrawley1 and Trayecto's @rkroeger13 on how the quiet period, lock-ups and tax timing fit together, live for advisors Nov 10 at 3pm ET / 12pm PT. Educational only. Not investment, tax or legal aQz23A6b

Anthropic's amended S-1: Q3 revenue near $17B (+47% q/q), $567M operating loss, per press reports. @WSJ: investors eye $1.5T-$1.6T valuation. No price range set. Informational only. @AugmentMarkets and/or its affiliates hold a position in @Anthropic.
augment.market/pulse/anthropi…

Craig Stephens asks

“What are investors actually investing in?”

“Like what's the structure behind these holdings?”

“Are you direct to cap table, holding shares or these SPVs?”

@noelregrets Answers “We call it the collective.”

Craig from the @AccessIPOs podcast is joined by under and CEO. Noel and Craig talk about all things Augment, who Noel is, private markets, the collective and so much more.

To see the full episode and a more detailed breakdown of the Collective, visit: youtube.com/watch?v=1-WgAB…

Anthropic’s reported lock-up can last a year. Investors in funds and SPVs also need to read their vehicle’s terms for transfers, redemptions and distributions. @AugmentMarkets and/or its affiliates hold a position in @Anthropic. Informational only.

augment.market/pulse/anthropi…

AI companies were 67.1% of Power 20 activity on Augment in Q3, the highest in ten quarters of @AugmentMarkets’s data. A model lab, an inference provider and a chip designer show up on an account statement as three companies, but they all share one of the same demand drivers. report.

Top six names in our Power 20 were 47% of all activity on @AugmentMarkets in Q1. In Q3 they were 16.2%, lowest since we started tracking these metrics in 2023. Orders are spreading to the rest of our list ( @Etched, @Hadrian, @GoToImpulse, @BlueOrigin). Looks like broader e private market to me.

AI companies were 67.1% of Power 20 activity in Q3, a new high. The top of the list is thinner and the AI share is wider. Full rankings: augment.market

See more details here: augment.market/the-power-20#m…

Largest demand gains in Augment’s Q3 Power 20, ranked by increase in buy-side orders vs Q2: @GoToImpulse, @Etched, @Hadrian, @BlueOrigin. Two space companies, a chipmaker and a manufacturer.

The six highest-ranked Power 20 names were 16.2% of all activity on Augment in Q3, the lowest in the series and down from 47% in Q1'26.