Private markets are no longer alternative. The Augment Exchange brings you the entrepreneurs, investors, and institutions building this asset class, across four pillars: infrastructure, allocators, entrepreneurs, and analysts. Hosted by Max Melmed, Director of Strategic Partnerships at Augment.
Private markets are becoming mainstream. The regulatory, technological and societal conditions have evolved to make this asset class more liquid, accessible and transparent than before.
Pricing data, research, transfer agents, custodians, fund administrators, brokerage firms, and clearing firms. The infrastructure that makes everything possible. Most investors never see it. We get the people building it on the record.
Family offices, funds, RIAs, ‘40 Act vehicles, and institutional allocators. The individuals and institutions deploying capital into venture-backed private companies, and the frameworks they use to evaluate and execute.
Founders and executives of the companies employees want to work for and investors want to own. The issuers at the heart of this market. Wide-ranging conversations with the people building from the inside and creating value.
Experts and analysts going deep on single companies, on sectors and themes, and on private markets as an asset class. The research layer the public market has taken for granted, finally being built for private markets.
Max was most recently the CEO of a broker-dealer focused on private-market access. He began his career as an early employee at SpeedRoute, where he worked his way up from office manager to Chief Strategy Officer and became the third-largest shareholder when Overstock acquired the company. He went on to serve as CSO of tZERO, co-wrote the company’s white paper, and helped raise $130 million. After tZERO came investment banking, strategic advisory, and invested into 80+ private companies and funds.
His thesis is simple. The US public equity market is the most efficient, scalable market ever built. Its structure should serve as the blueprint for the markets coming next. Crypto. Prediction markets. And the one he keeps coming back to: private markets. The regulatory, technological and societal conditions have evolved to make this asset class more liquid, accessible and transparent than before.
After getting to know Augment’s mission and the team being assembled, Max spent the next couple of months convincing them to let him join. And to launch this podcast.
Augment is on a mission to make private markets more liquid, accessible, and transparent. A regulated secondary marketplace where institutional and accredited investors price, source, and trade shares in 300+ pre-IPO companies, and where issuers finally get a compliant, modern venue for activity that used to happen by phone, by email, and even by fax.
assets under management*
executed trades
users
*as of April 2026
The US public equity market is the most efficient market ever built. Private markets operate fundamentally differently. Augment is building the infrastructure for this asset class. Not borrowed from the public market, but built for the private one. The Exchange is one part of that work: putting the people building this asset class on the record, in public.
Private companies are staying private longer.
The infrastructure for investing in them, holding them, and trading them should match the scale of the opportunity.It doesn’t yet. That’s the work. And the opportunity.
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. Neither Augment Advisors, LLC nor Augment Capital, LLC 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.
