Citi Taps Caplight for Tokenized Private Equity Pricing

Citi is moving to modernize private market transactions by launching Digital Depositary Receipts, an initiative that mirrors the structure of public equity receipts. To ensure valuation accuracy for this new asset class, the bank has tapped San Francisco-based Caplight to provide the independent pricing engine for its tokenized private shares.

Today, 13:23· Money Talk· 610 reads

Citi Taps Caplight for Tokenized Private Equity Pricing

The partnership centers on Caplight’s MarketPrice™ data feed, which will track the underlying value of the private securities held within Citi’s tokenized structures. The first of these, a DDR representing shares in Kaleido, Inc., marks a shift away from the legacy, paper-based bilateral processes that have long defined private equity settlements. By automating custody and settlement, the bank aims to bring institutional-grade infrastructure to venture-backed companies.

Caplight’s system utilizes AI-driven models to synthesize transaction data and market signals across a database of over 100,000 private firms. This real-time visibility is intended to solve systemic issues regarding transparency and fee assessment in private markets. Javier Avalos, CEO of Caplight, stated that the integration allows issuers to maintain cap table control while expanding their reach to a broader pool of eligible investors.

Citi Taps Caplight for Tokenized Private Equity Pricing

Comments (0)