2030 Finance | September 3, 2019

The Long Term Stock Exchange raises $50 million to allow companies to grow over time

Dennis Price
ImpactAlpha Editor

Dennis Price

ImpactAlpha, Sept. 3 – Companies seeking to measure performance over years and decades rather than quarterly may soon have a stock exchange on which to list and raise patient capital.

The Long Term Stock Exchange, founded by Lean Startup’s Eric Ries, raised $50 million in Series B led by Founders Fund, which also led the firm’s Series A. Repeat investors including Collaborative Fund, Andreessen Horowitz, Obvious Ventures, Uprising, and Initialized also participated.

Can a Long-Term Stock Exchange drive long-term impact?

“A new generation of companies aspire to serve customers, build their businesses and advance their visions over time,” Ries said in a statement. “They want to run their businesses with the stewardship that stakeholders and society demand.”

The exchange does not yet have a launch date though a company spokesperson told Axios that “early next year seems plausible.” The Securities and Exchange Commission recently approved the company’s standards.