> ## Documentation Index
> Fetch the complete documentation index at: https://primimarket.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Why Private Markets

> The shift that has made private market exposure the biggest gap in finance.

## The Structural Shift

The composition of the global economy has fundamentally shifted over the last two decades. The companies defining the next era of technology, defense, finance, and consumer behavior are no longer going public when they reach scale. The rise of private capital — venture, growth equity, and late-stage secondary markets — has made it possible for these companies to fund themselves entirely outside the reach of public markets.

The result is a bifurcated economy: institutional investors with access to private markets can participate narrowly, while everyone else is limited to public equities that increasingly exclude the most dynamic part of the market.

## A New Asset Class

Existing secondary markets facilitate real transactions between accredited investors in pre-IPO company equity, producing real price signals — bid-ask quotes, transaction volumes, and midpoints — that reflect genuine market consensus. Primi uses this to introduce the next regulated asset class: **private company momentum contracts**.

Is OpenAI accelerating faster than its own history? How about the private AI sector in general? These questions have never had a tradable answer — until now.
They are new questions, new instruments, and a new asset class entirely. Primi gives any market participant the first regulated way to express, hedge, or trade a view on private company trajectory — whether they own shares or not.

## Use Cases

Private market momentum contracts open up a new set of strategies for two distinct groups: participants already active in secondary markets, and everyday traders who have never had access to private company exposure at all.

### For secondary market participants

Accredited investors and funds active on secondary platforms hold concentrated exposure to specific private companies. That exposure comes with meaningful risk — illiquidity, long time horizons, and no mechanism to hedge against a deterioration in momentum before a liquidity event arrives.

| Use Case                                | Description                                                                                                                                                                    |
| --------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **Hedging existing positions**          | An investor holding illiquid private shares can short that company's Primi index to offset downside if secondary market momentum deteriorates, without selling shares.         |
| **Managing concentration risk**         | A fund with outsized exposure to one late-stage company can use sector baskets to hedge thematic risk across the AI or fintech landscape.                                      |
| **Expressing a view on timing**         | Participants who believe a company's IPO trajectory is accelerating or stalling can trade the momentum signal directly rather than relying solely on a binary liquidity event. |
| **Price discovery before transactions** | The Primi index provides a continuous, aggregated momentum signal that secondary market participants can use to inform timing and pricing on large block transactions.         |

### For everyday traders

Most investors have never had any access to private company exposure. There is no ticker, no ETF, no public instrument for OpenAI, Anthropic, Stripe, or SpaceX. Primi changes that.

| Use Case                         | Description                                                                                                                                                                                |
| -------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **Pure private market exposure** | Gain exposure to private company momentum without being an accredited investor, sourcing deals, or navigating secondary platforms.                                                         |
| **Trading thematic conviction**  | Express a view on the AI sector accelerating, fintech consolidating, or a specific company building momentum into an IPO — using the same interface for all of them.                       |
| **Portfolio diversification**    | Add a non-correlated exposure to large private companies alongside public equity holdings, with no lock-up period and no minimum hold time.                                                |
| **Speculation on trajectory**    | Take a position on whether a company is building or losing momentum relative to its own history — a genuinely uncertain question even for the most obviously successful private companies. |