A detailed look at the market we operate, the infrastructure beneath it, how we structure and settle transactions, and how we work with partners. Prepared for prospective partners and their advisers, as the next level of detail beyond our public site.
EVIDENT originates, structures, distributes, and administers private market investments through a single regulated venue. We are a licensed operator, not a technology vendor.
Origination, structuring, distribution, and lifecycle management of private equity, private credit, infrastructure, and specialty assets.
We act on an agency basis under our Hong Kong SFC Type 1 licence, and co-invest in the deals we bring to market. Partners and clients sit alongside the platform.
A digital OTC secondary market for private positions, supported by an in-house warehouse fund providing active liquidity — the part most platforms leave unsolved.
Most of our transaction volume today is in private equity — led by pre-IPO and late-stage secondaries, which makes it our largest vertical by some margin. Infrastructure, private credit, and specialty assets are live on the platform and growing.
EVIDENT is built on three integrated pillars that together solve access and liquidity across the private markets lifecycle.
A full administration stack — fund administration, accounting, reporting, and transfer agency — in one automated infrastructure, with assets structured as digital securities.
A curated flow of primary and secondary deals for wealth managers and their clients, with no upfront cost or commitment to participate.
A digital OTC secondary market backed by an in-house warehouse fund as an active liquidity provider, so positions can change hands when holders need them to.
For a partner, three things matter most: we originate the deal flow, we administer the asset and the client, and we distribute to investors. Everything below sits in service of those three.
Sourcing private opportunities through a proprietary network and an AI-supported request-for-quote system, then curating hard — we act on a small fraction of the flow we see.
Holding, accounting, reporting, and servicing the asset and the client across the full lifecycle — fund administration, custody, and transfer agency in one regulated stack.
Placing each opportunity with professional investors, with primary subscription and a secondary market for liquidity, on the platform and through partners.
Mechanically, every deal moves through the same five stages, from sourcing to market access. Each stage is digital and automated where it can be. Two layers run underneath all of them — AI agents as a system of orchestration, and blockchain as a single system of record. This is what a partner is plugging into.
EVIDENT structures each opportunity in whichever way best fits the asset and the partner. Three models cover almost every case.
A special-purpose vehicle holds the underlying asset, with investors participating through the vehicle. A familiar, well-understood structure where it is the right fit.
A licensed nominee holds legal title on behalf of investors, who remain the beneficial owners with full economic and governance rights. No additional corporate layer, statutory client-asset protection, and efficient secondary transfer. It is the same model that underpins public-market custody, it is regulated under Hong Kong law, and it is how the large majority of our 40+ live assets are held.
Where an asset is issued digitally from the outset, it lives on the platform as a digital security directly, without a wrapping vehicle.
A liquidity mechanism is not liquidity. A private position only becomes tradable when there is a counterparty ready to take the other side, and a way to settle the trade with certainty. Here is what happens when an investor wants out — and what makes each step work.
A verified investor posts a sell offer on a position, in whole or in part.
Another investor lifts the offer, or the warehouse fund steps in as principal at a structured discount.
Cash and position settle at the same moment, T+0. Ownership records update instantly.
Where EVIDENT acted as principal, the position is redistributed into the market shortly after.
A regulated over-the-counter market where verified professional investors post and lift offers on private positions. It operates within the SFC’s defined OTC perimeter — not an exchange, not an automated trading service.
Where there is no immediate market bid, EVIDENT’s in-house warehouse fund steps in as principal at a structured discount, then recycles the position back into the market when demand returns.
Cash and position transfer at the same moment, on a delivery-versus-payment basis — settled in real time, T+0. If either leg fails, the trade reverts. Principal risk is eliminated at the transaction level.
The practical effect for a partner is a defined liquidity horizon — typically two to three years on a position — rather than telling a client capital is locked for a decade.
Two of our 40+ transactions show the whole machine in motion — how we sourced the deal, how we structured it, how we distributed it to investors, how onboarding and administration ran, and how we provided liquidity along the way. Each opens in full.
A proprietary pre-IPO entry into a leading Chinese GPU maker, sourced through our network, structured as a digital security, and distributed to professional investors alongside EVIDENT’s own capital. Investors took liquidity on the platform’s secondary market while the company was still private — then it listed in Hong Kong.
A USD 61.5m GP-led continuation-vehicle secondary in Xiaohongshu, sourced through a proprietary relationship with a major global GP. A cross-border structure absorbed into a single Hong Kong onboarding, distributed to 20+ private-wealth investors in about two weeks — and a position that keeps trading on the platform as the company nears a USD 60bn valuation.
EVIDENT adapts to a partner’s operating model. Most engagements take one of two forms, each with a clean regulatory and commercial framework.
The partner introduces the underlying client; EVIDENT onboards and transacts with that client directly under its SFC framework. The partner preserves the relationship; EVIDENT carries the regulatory and operational lift.
Best fit: wealth managers, brokers, and advisers whose clients are willing to be direct holders on the platform.
The partner uses its own pooling structure — a fund, VCC, or trust — and EVIDENT transacts only with that structure, never with the underlying client. The partner retains full exclusivity over the end-client relationship.
Best fit: multi-family offices, banks, and licensed managers with existing client-facing infrastructure.
EVIDENT is built and run by a team drawn from BCG, Credit Suisse, BlackRock, BNY Mellon, UBS, and global asset managers, combining capital-markets depth with first-principles engineering. Meet the team →
Three steps from this briefing to a first transaction. None commits the firm — each is designed to build mutual understanding before any capital moves.
Questions before then? Our partner FAQs answer what wealth managers most often ask — who holds the client relationship, what the client owns, how assets are protected, and what happens if something goes wrong.
We are glad to walk through any part of this in detail, and to share the full diligence materials under NDA.
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