Augment vs Clarity (formerly Hiive)

Two marketplaces for pre-IPO shares, each operated by a broker-dealer that runs an alternative trading system. Augment offers Collective SPVs from $10,000 and price estimates you can see without an account. Clarity, known as Hiive until September 22, 2026, has a larger published listing count and a $25,000 standard minimum.

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The short answer

Augment may fit if you want a lower entry point through a pooled vehicle (Collective SPVs start at $10,000), price estimates you can see before you create an account, and a marketplace for placing orders and negotiating transactions. Clarity may fit if you are a shareholder who does not meet the accredited-investor definition and want to sell, if you are in Canada, or if you want a larger published listing count.

Augment

Augment is a private markets investment platform for accredited and institutional investors. Brokerage is provided through Augment Capital, LLC, a member of FINRA/SIPC that operates an ATS; advisory services through Augment Advisors, LLC, an SEC-registered investment adviser. Investors can place orders on the marketplace or subscribe to a Collective SPV, which starts at $10,000 with a one-time upfront fee and no management fee or carry. Augment charges a commission only when a transaction closes. It coordinates settlement with escrow providers and the issuer's transfer agent, and does not custody funds or securities. As of April 2026: 300+ pre-IPO companies, 1,000+ executed trades, 10,000+ users and $1B+ in assets under management.

Backed by real private-company shares

Minimum investments starting at $10k

Place sell orders directly in the platform

Fast execution with Lightning Close

For informational purposes only. Data presented is illustrative and does not reflect current market valuations. Executable pricing available to qualified users within the platform.

Clarity (formerly Hiive)

Clarity is a private markets platform for accredited and institutional investors, based in Vancouver. It operated as Hiive until September 22, 2026, when it rebranded: Hiive Markets Limited became Clarity Capital Limited, Hiive Advisors Inc. became Clarity Investment Management Inc., and hiive.com now redirects to clarity.com. Clarity Capital is an SEC-registered broker-dealer and FINRA/SIPC member that operates an SEC-registered ATS, and is a registered Exempt Market Dealer with certain Canadian securities commissions. Buyers and sellers place non-binding indications of interest on the platform; Clarity executes and settles eligible transactions and does not open customer accounts or hold securities on behalf of customers. It reports $6 billion in closed transaction volume and more than 3,000 listed companies.

Side by side

Category	Augment	Clarity (formerly Hiive)
Who can transact	Accredited and institutional investors; status verification required before investing. U.S. residents under the Terms; eligible Swiss investors under the August 25, 2026 expansion, subject to Swiss client classification and applicable requirements (augment.market/terms; Switzerland announcement).	Primarily accredited buyers and sellers; Clarity Capital "may also provide limited sell-side brokerage services to holders of stock who do not meet the definition of 'accredited investor'" (clarity.com/disclosures, Sept 22, 2026). Registered in the U.S. and as an Exempt Market Dealer with certain Canadian securities commissions (clarity.com/disclosures, Sept 22, 2026).
Minimums	Collective SPVs from $10,000 (augment.market/collective, Sept 16, 2026). Marketplace minimums vary by transaction.	Standard minimum transaction $25,000; certain private funds impose a higher minimum (Clarity Capital Limited Form CRS, accessed Oct 6, 2026).
What a buyer gets	Direct secondary transfers and SPV interests, depending on the transaction and issuer approval. Collective investors hold an interest in the SPV, which owns the shares (The Manual, Sept 8 and Sept 11, 2026). Augment's Form CRS describes ATS-traded securities as SPV-based private placements.	Direct transactions in private securities that Clarity Capital executes and settles, and interests in Clarity Investments funds advised by Clarity Investment Management Inc. (clarity.com/disclosures, Sept 22, 2026).
Fees	Commission charged only on a successful closed transaction; fees may be charged to buyers, sellers or both; on average approximately 1% to 7.5% of the transaction amount. Processing, clearing and settlement fees may apply (Form CRS, May 20, 2026). Collective: one-time upfront fee, no management fee or carry (augment.market/collective, Sept 16, 2026).	Tiered commissions: sellers up to 5.75%, decreasing above $500,000; buyers, where charged, typically up to 4.85%, decreasing above $250,000. Certain private-fund transactions carry a 7.5% fee. Brokerage commissions apply only at closing; Execution and Settlement Services have no separate fee. Issuer and fund fees may also apply (Clarity Form CRS, accessed Oct 6, 2026).
Coverage	300+ pre-IPO companies; 1,000+ executed trades; 10,000+ users; $1B+ assets under management, as of April 2026 (augment.market, Sept 16, 2026).	"More than 3,000 listed companies," $6 billion in closed transaction volume and $2B+ in assets under management; over 150 companies actively managing liquidity; closed transfers in the securities of over 450 private issuers (clarity.com founder letter, Sept 22, 2026; Clarity's own figures).
Settlement	Workflow: verification of the seller's holdings, issuer approval and right-of-first-refusal (ROFR) handling, executed transfer documents, funding, and release. Augment coordinates with escrow providers and the issuer's transfer agent and does not custody funds or securities (The Manual, Sept 8, 2026). Time to close varies by issuer.	Clarity Capital executes and settles eligible transactions and does not open customer accounts or hold securities on behalf of customers (clarity.com/disclosures, Sept 22, 2026). Transfers may be subject to rights of first refusal and company approvals; reaching agreement does not guarantee the transfer is approved or completed (same). Clarity advertises completion in as little as 30 days; actual timing depends on the transaction and approvals (Clarity trading page, accessed Oct 6, 2026).
Regulatory status	Brokerage through Augment Capital, LLC, member FINRA/SIPC, which operates an ATS; advisory services through Augment Advisors, LLC, an SEC-registered investment adviser (augment.market/disclosures, July 21, 2026; Form CRS, May 20, 2026). No reportable disciplinary history (Form CRS).	Clarity Capital Limited, SEC-registered broker-dealer, FINRA/SIPC member, operates an SEC-registered ATS, Exempt Market Dealer in Canada (BrokerCheck CRD 316580). Adviser: Clarity Investment Management Inc., SEC-registered. Clarity Fund Administration Inc. provides administrative services. All wholly-owned subsidiaries of The Clarity Group Limited (clarity.com/disclosures, Sept 22, 2026). Its current Form CRS reports no legal or disciplinary history for the firm or its financial professionals (accessed Oct 6, 2026).
Pricing and market data	Estimated share price and market cap shown publicly on company pages and in the quarterly Power 20; estimates based on proprietary data from Caplight and Augment. Lowest ask, highest bid and last transaction require an account (augment.market/disclosures, July 21, 2026; augment.market/c/ pages, Sept 16, 2026).	Clarity Price shown publicly on company pages, alongside the Clarity Liquidity Index (clarity.com/clarity-liquidity-index, accessed Oct 6, 2026). Any pricing or market information is "for informational purposes only and may be based on a limited number of indications of interest, orders, or completed transactions" (clarity.com/disclosures, Sept 22, 2026).

Where Augment is different

Lower published minimum for Collective SPVs

Collective SPVs start at $10,000, with a one-time upfront fee and no management fee or carry. Clarity's standard minimum transaction is $25,000, and certain private funds impose a higher minimum.

What you can see before you sign up

Augment's company pages show an estimated share price and market cap without an account, and the Power 20 publishes a quarterly ranking with price and quarter-over-quarter change in the open. Clarity shows a Clarity Price and the Clarity Liquidity Index publicly. These published price estimates are informational and do not guarantee an executable price.

How fund fees are structured

Collective charges a one-time upfront fee with no management fee or carry. Clarity's Form CRS says some private funds may also charge management, administrative or performance fees. The total cost depends on the specific vehicle and transaction; the two platforms' headline commissions do not capture every possible fee.

Where Clarity may fit better

If you hold shares and do not meet the accredited-investor definition, Clarity offers limited sell-side brokerage to help you find a buyer. Augment's platform is for accredited and institutional investors. If you are a Canadian resident, Clarity is a registered Exempt Market Dealer with Canadian securities commissions; Augment's Terms of Service cover U.S. residents, and its August 2026 announcement extends access to eligible Swiss investors, subject to applicable requirements. And if you want a larger published listing count, Clarity states more than 3,000 listed companies against Augment's 300 plus. A company with a page is not the same as a company with a live order, on either platform.

How Augment works

Create an account, verify accredited or institutional status, and either place orders on the marketplace or subscribe to a Collective SPV. Transactions move through a defined workflow: verification of the seller's holdings, issuer approval and right-of-first-refusal (ROFR) handling, executed transfer documents, funding and release. Augment coordinates that workflow with escrow providers and the issuer's transfer agent; it does not custody funds or securities. Augment charges its commission only when a transaction closes; processing, clearing and settlement fees may apply. Details: Private stock marketplace and Collective.

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For informational purposes only. Data presented is illustrative and does not reflect current market valuations. Executable pricing available to qualified users within the platform.

Cognition AI (Devin)

Total funding

$2.2B

Est. market cap

$30.2B

Perplexity

Total funding

$1.6B

Est. market cap

$18.1B

Replit

Total funding

$872M

Est. market cap

$9.9B

Prometheus

Total funding

$18.2B

Est. market cap

$44.3B

Saronic

Total funding

$2.6B

Est. market cap

$13.6B

Frequently asked questions

Is Clarity the same as Hiive?

Yes. Hiive rebranded as Clarity on September 22, 2026. The broker-dealer formerly known as Hiive Markets Limited is now Clarity Capital Limited, the adviser formerly Hiive Advisors Inc. is now Clarity Investment Management Inc., and hiive.com redirects to clarity.com.

Is Augment or Clarity better for buying pre-IPO shares?

It depends on the deal and on you. Augment offers Collective SPVs from $10,000 and supports direct secondary transactions; Clarity's standard minimum is $25,000 with both direct trades and Clarity Investments funds. Fees, eligibility and the company you want to buy will decide it. Both platforms are for accredited investors on the buy side.

What is the minimum investment on Clarity vs Augment?

Clarity's Form CRS lists a $25,000 standard minimum, with higher minimums for certain private funds. Augment's Collective SPVs start at $10,000; marketplace order minimums vary by transaction.

What are Clarity's fees compared to Augment's?

Clarity's tiered commissions reach 5.75% for sellers and typically 4.85% for buyers where charged; certain private-fund transactions carry a 7.5% fee. Rates decrease for larger transactions, and issuer or fund fees may also apply. Augment's Form CRS lists an average commission range of approximately 1% to 7.5%, with processing, clearing and settlement costs in addition. Collective has a one-time upfront fee and no management fee or carry. Both firms charge brokerage commissions only when transactions close; total costs depend on the transaction and vehicle.

Do I own the shares directly on Augment or Clarity?

It depends on the transaction. Both platforms facilitate direct share transfers and pooled vehicles. In a direct transfer the buyer acquires the shares; in an SPV or fund the vehicle is the shareholder of record and the investor holds an interest in the vehicle.

Can non-accredited investors use Clarity or Augment?

Clarity provides limited sell-side brokerage to holders of stock who do not meet the accredited-investor definition. Augment's platform is available to accredited and institutional investors, with verification required.

Is Clarity regulated? Is Augment?

Clarity Capital Limited is an SEC-registered broker-dealer and member of FINRA/SIPC, operates an SEC-registered alternative trading system, and is a registered Exempt Market Dealer in Canada. Augment Capital, LLC is a member of FINRA/SIPC and operates an ATS; Augment Advisors, LLC is an SEC-registered investment adviser.

Augment Markets, Inc. is a technology company offering software and data services with securities-related services offered through its wholly-owned but separately managed subsidiary Augment Capital, LLC, Member of FINRA/SIPC.
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Important Disclosures: This material has been prepared for informational purposes only. None of the information provided represents an offer or the solicitation of an offer to buy or sell any security. The information provided does not constitute investment, legal, tax, or accounting advice. You should consult with qualified professionals before making any investment decisions. Investing in private securities involves substantial risk, including the potential loss of principal. Private securities are typically illiquid, have limited pricing transparency, and often require longer holding periods. These investments are available exclusively to qualified accredited investors and offer no guarantee of returns. Additionally, past performance of private securities does not indicate or predict future results.
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Information about Clarity is drawn from clarity.com disclosures last updated September 22, 2026, the company's founder letter dated September 22, 2026, and Clarity Capital Limited's current Form CRS, accessed October 6, 2026. Hiive rebranded as Clarity on September 22, 2026. Augment is not affiliated with Clarity. Information on this page is current as of October 6, 2026. Product terms are subject to change.

See what is available

Accredited investors can create an account to view live orders, or browse Collective.

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FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement.Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. “Investment accounts” are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Augment and its affiliates do not provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC’s Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.