Nasdaq Private Market has launched PAM, an AI agent for private market investing built into its iOS app.
The product was designed to explain how private market transactions work, surface investment opportunities, provide company comparisons, and allow users to take investment actions from a mobile device. A public beta version is currently available on the iOS App Store.
The company links the launch to a disconnect between eligibility and participation in private markets. According to Nasdaq Private Market, the private market reached a valuation of more than USD 5 trillion at its peak earlier in 2026. Access, however, has remained slow and manual and has largely depended on personal relationships. More than 40 million Americans qualify as accredited investors, but only 4.3% of them invest in private markets, while three times that number have expressed interest in doing so.
With this in mind, PAM is positioned as a response to that gap. It replaces a process that has traditionally required specialised knowledge, exclusive access, paperwork, and time with a conversational interface. Tom Callahan, CEO of Nasdaq Private Market, said private markets have historically operated as a closed environment, where even basic information was available to a limited group. The official added that the company is using AI to extend access to information and investment opportunities to a much wider base of individual investors.
Capabilities across the investing lifecycle
According to the company, PAM operates across the full investing lifecycle. It answers questions about specific companies and funds in plain language, flags opportunities aligned with an investor's stated goals, and explains the mechanics of a deal before funds are committed. When an investor decides to proceed, the agent hands off directly to execution on Nasdaq Private Market's patented settlement infrastructure. The company said steps that previously involved a phone call, follow-up emails, and a waiting period can now be completed in seconds.
Many private companies have limited public visibility, so PAM also guides users through educational content on the companies they follow. It allows side-by-side comparisons of firms in selected sectors and can notify users when an investment opportunity becomes available. The agent draws live on data that has historically been out of reach for individual investors, including pricing history, transaction activity, and company fundamentals. Nasdaq Private Market states that this gives individual users information of a calibre comparable to that available to large institutions.
Lower minimums for single-asset funds
Alongside the launch, Nasdaq Private Market is reducing the minimum investment for certain single-asset funds on its platform to USD 5.000. Higher minimums have historically limited participation in private company funds to investors able to commit larger amounts. Combined with PAM, the change is intended to let accredited investors build exposure to private companies in smaller increments that suit their portfolios, rather than being excluded from these vehicles altogether.
The public beta is live now. Broader availability and additional functionality are set to follow in phases over the coming months. The company describes the launch as combining AI and private markets, two developments it identifies as reshaping investing, within a single mobile-based agent.
