Mission Statement, Vision, & Core Values of Forge Global Holdings, Inc. (FRGE)

Understanding the Mission Statement, Vision, and Core Values of Forge Global Holdings, Inc. (FRGE) is defintely critical for assessing its long-term investment thesis, especially as the company continues to build momentum with $52.7 million in revenue for the first half of 2025, an impressive 28% year-over-year increase. You're looking for the foundational beliefs that drive a marketplace holding over $18.1 billion in Assets Under Custody, but does their commitment to being 'Bold, Accountable, and Humble' truly align with their strategy to democratize the private market? We'll map their core principles-the same ones driving their path to adjusted EBITDA breakeven by 2026-to the near-term risks and opportunities you need to watch.

Forge Global Holdings, Inc. (FRGE) Overview

You need a clear picture of Forge Global Holdings, Inc. (FRGE), especially with the recent acquisition news. The direct takeaway is that Forge is the leading infrastructure provider for the private secondary market, and its core business is showing steady revenue growth, even as it navigates a path to profitability.

Forge Global Holdings, Inc. was founded in 2014 in San Francisco, California, with the mission of bringing liquidity and transparency to the private market (pre-IPO shares). They built a digital marketplace and a suite of complementary services to connect buyers (accredited and institutional investors) with sellers (employees and early investors) of shares in private, high-growth companies. Honestly, they're the people who make it possible to trade shares in a unicorn before it goes public.

The company's platform solutions are broad, covering everything from the core Marketplace solutions for trading private company shares to Custody solutions for managing alternative assets, including self-directed IRA accounts. Plus, they offer Data solutions that provide key insights into this traditionally opaque market. As of the latest reporting for the quarter ended September 30, 2025, Forge Global Holdings, Inc.'s total revenue was $21.26 million.

Latest Financial Performance: Q3 2025 Figures

Looking at the books for the third quarter of fiscal year 2025, which ended September 30, 2025, we see resilience in their core business. Total revenue for the quarter was $21.26 million, marking a 10.6% increase year-over-year. Here's the quick math on where that money came from:

• Marketplace revenues, the main product sales from trading, contributed $12.16 million.
• Custodial administration fees added $9.10 million.
• For the nine months ended September 30, 2025, total revenue was $74.3 million, which is up significantly from the $60.74 million reported for the same period a year prior.

What this estimate hides is the continued focus on managing costs; the net loss for Q3 2025 narrowed to $18.21 million, a 3.4% improvement from the previous year. This is a business that is growing revenue while also working to close its profitability gap. Their Assets Under Custody stood at an impressive $18.1 billion as of the second quarter of 2025, showing the scale of their custodial business.

A Leader in Private Market Infrastructure

Forge Global Holdings, Inc. is defintely one of the leaders in the private market infrastructure space, and the recent news confirms their strategic importance. Through September 30, 2025, the company's platform has facilitated the trading of more than $17 billion in private company shares, which is a massive historical transaction volume. This sheer volume establishes them as the premier private market platform.

Their leadership position was powerfully validated on November 6, 2025, when Charles Schwab announced a definitive agreement to acquire the company in a transaction valued at approximately $660 million, with shareholders receiving $45 cash per Common Share. This acquisition by a financial giant is a clear signal that Forge's technology and market position are considered essential for democratizing access to private markets. Furthermore, they are leveraging their proprietary data in a partnership with Fortune to launch new private market lists and rankings, solidifying their role as a key source of insight for the industry. To understand more about the mechanics of how this company operates and generates revenue, you should find out more here: Forge Global Holdings, Inc. (FRGE): History, Ownership, Mission, How It Works & Makes Money

Forge Global Holdings, Inc. (FRGE) Mission Statement

You're looking for the bedrock of Forge Global Holdings, Inc.'s strategy, and honestly, it all comes down to a simple, powerful idea: democratizing the private market. The company's mission is to give a broader group of people the ability to buy and sell private shares in some of the world's most innovative companies and help all who participate in the private market economy to accelerate destiny. This isn't just corporate fluff; it's the guiding principle that drives their platform and explains why their Total Assets Under Custody reached $18.1 billion as of mid-2025. If the mission doesn't align with the financial output, it's just a poster on the wall, but here, the numbers tell the story.

Forge Global Holdings, Inc. firmly believes that everyone should have the opportunity to participate in the private market, and they've built the technology to power an accessible, liquid, and transparent ecosystem. This commitment is broken down into three core components that map directly to their operational focus and recent financial performance.

Core Component 1: Democratizing Access to Private Markets

The first pillar is pure accessibility. For decades, the private market (pre-IPO shares) was a velvet rope affair, only for the largest institutions and venture capital funds. Forge Global Holdings, Inc. is working to tear that rope down, making it easier for employees to sell their private shares and for a wider range of individual and institutional investors to get in on high-growth companies. This requires them to be bold, a key core value, in challenging the old-guard structure.

Here's the quick math on their success: the total number of Custodial Accounts on the platform grew to 2.6 million by the end of the second quarter of 2025, a 4% quarter-over-quarter increase. That's millions of participants gaining exposure to private market growth. The acquisition of Accuidity Capital Management in 2025 further reinforced this, aiming to broaden investor access beyond single-asset strategies and into diversified investment solutions for the wealth channel. If you're an investor, more access means more opportunity, defintely. You can see more on this in Breaking Down Forge Global Holdings, Inc. (FRGE) Financial Health: Key Insights for Investors.

Core Component 2: Powering a Liquid, Technology-Enabled Marketplace

A marketplace is useless without liquidity-the ability to actually buy or sell when you want. Forge Global Holdings, Inc. focuses on building the infrastructure for a truly liquid private market, which is where their technology platform comes in. Their core services include trade execution, settlement, and custody for pre-IPO securities, all supported by an integrated suite of tools. This focus demands they be accountable-signing up, committing, and delivering on the trade.

The numbers here are striking. Trading Volume for the first half of fiscal year 2025 reached $1.4 billion, which is a massive 110% increase year-over-year and already exceeded the total trading volume for the entire 2024 fiscal year. This momentum is directly tied to the platform's ability to facilitate large block trades and attract a diversity of re-engaged interest. In Q2 2025 alone, Trading Volume was $756.1 million, up 77% over the prior year quarter. That kind of volume proves the technology is working to create a real, functioning market.

Core Component 3: Ensuring Transparency and Data-Driven Decisions

The final pillar is transparency. Private markets are historically opaque, making valuation and risk assessment difficult. Forge Global Holdings, Inc. addresses this by providing market intelligence and data analytics (Forge Data) to give clients visibility into pricing trends, deal flow, and market activity. This commitment to clarity is an act of humility, another core value, as it means respecting the client and acting out of care.

The company's ability to generate revenue from this transparent, high-quality service is a key indicator of its value. For the nine months ended September 30, 2025, Forge Global Holdings, Inc.'s total revenue was $74.3 million, an increase from $60.74 million in the prior year period. This growth is fueled by both Marketplace revenues (which were $12.16 million in Q3 2025) and custodial administration fees, showing clients are willing to pay for the combined services of a liquid, transparent, and accessible platform.

• Q3 2025 Total Revenue was $21.26 million.
• Q3 2025 Marketplace Revenues contributed $12.16 million.
• The Net Take Rate increased from 2.3% to 2.4% quarter-over-quarter in Q2 2025.

Forge Global Holdings, Inc. (FRGE) Vision Statement

You're looking for the strategic bedrock of Forge Global Holdings, Inc. (FRGE), and the takeaway is clear: the company's vision is to build an institutional-grade infrastructure that makes the private market as accessible, liquid, and transparent as the public markets. Their mission is to help a broader group of people buy and sell private shares, accelerating destiny for all participants in this economy. That's a massive undertaking, but their 2025 numbers show real progress toward that goal.

Forge Global's strategy isn't just about facilitating trades; it's about fundamentally reshaping the pre-IPO landscape. They are a leading provider of marketplace infrastructure, data services, and technology solutions for the private market, and their vision is broken down into three actionable pillars that drive their operational focus.

Powering an Accessible Private Market

The core of Forge Global's mission is the belief that everyone should have the opportunity to participate in the private market, not just the mega-funds. This focus on accessibility is why they are building out the infrastructure to serve a broader group of people, from employees with stock options to individual accredited investors. It's about democratizing access to the world's most innovative companies before they go public.

Here's the quick math on their reach: as of the end of Q3 2025, Forge Global reported a total of approximately 2.70 million custodial accounts, a 4% increase quarter-over-quarter. That growth in accounts directly reflects their success in bringing more participants into the private market ecosystem. Plus, the custodial administration fees contributed $9.10 million to their Q3 2025 revenue of $21.26 million, showing the stable, recurring income stream that comes from servicing this growing investor base.

• Broaden investor base beyond institutions.
• Simplify private share transactions for employees.
• Support new investment vehicles for wider participation.

You can learn more about who is actually using this growing platform and why they are buying in Exploring Forge Global Holdings, Inc. (FRGE) Investor Profile: Who's Buying and Why?

Establishing a Liquid Private Market

Liquidity-the ability to quickly buy or sell an asset without drastically affecting its price-is the lifeblood of any healthy market, and it's historically been the biggest challenge in the private space. Forge Global's vision directly addresses this by building an accessible and technology-enabled market for private shares. They want to make it easy for employees to sell their shares and for companies to reward shareholders with pre-IPO liquidity.

The trading volume numbers for 2025 show the volatility inherent in this market, but also the underlying growth trend. While Q3 2025 transaction volume was $0.42 billion, a 44% drop from Q2 due to what management cited as seasonality and normalization, the first half of 2025 (1H 2025) saw trading volume of $1.4 billion, up a staggering 110% year-over-year. That massive H1 surge in volume is what you get when a platform successfully creates liquidity for high-demand assets. The market is defintely still lumpy, but the infrastructure is working.

Ensuring a Transparent Private Market

The term private market often implies opacity, but Forge Global's vision is to power a transparent private market for everyone. Transparency is crucial for pricing, risk assessment, and ultimately, investor confidence. They achieve this by using proprietary data services and technology to provide visibility into pricing trends, deal flow, and market activity.

This commitment to data-driven transparency supports the $18.4 billion in Assets Under Custody (AUC) they held at the end of Q3 2025, which was up 2% quarter-over-quarter. Investors trust a platform with that much capital because they can see the data. What this estimate hides, however, is the full impact of an unsolicited inbound interest for a potential sale disclosed in October 2025, which can create both volatility and a perception of value validation for the platform itself.

Core Values: Bold, Accountable, and Humble

A vision needs a culture to back it up, and Forge Global's core values are the operational code for their employees. They boil down to three simple, powerful words: Bold, Accountable, and Humble.

Bold means embodying a daring spirit and practicing radical candor-investing in relationships while being straightforward about risks and opportunities. You need this to innovate in a regulated space like private securities.

Accountable is about commitment: Sign up, commit, and deliver. They take ownership while thoughtfully holding others accountable. This is non-negotiable when handling billions in private assets.

Humble means exemplifying excellence without arrogance, respecting and learning from others, and acting out of care. This value is essential for a company that is still on a path to profitability, having reported a GAAP net loss of $18.21 million in Q3 2025, even as they work toward their goal of adjusted EBITDA breakeven in 2026. You can't be arrogant when you're still burning cash.

Forge Global Holdings, Inc. (FRGE) Core Values

You're looking at Forge Global Holdings, Inc. (FRGE) not just as a trading platform, but as a long-term investment, so you need to know what drives the decisions. The company's three core values-Bold, Accountable, and Humble-aren't just posters on a wall; they map directly to their strategic moves in 2025, especially as they navigate the volatile private market.

These values explain how they managed to post a half-year trading volume of $1.4 billion through H1 2025, a significant jump that shows their model is gaining traction. If you want the raw numbers behind these actions, you should check out Breaking Down Forge Global Holdings, Inc. (FRGE) Financial Health: Key Insights for Investors.

We Are Bold

Boldness at Forge Global Holdings, Inc. means embodying a daring spirit and practicing radical candor-essentially, taking smart risks and having the tough conversations. This value directly fuels their mission to democratize access to private markets, which is a massive, complex undertaking. You can't tackle a traditionally opaque market without being defintely bold.

The clearest 2025 example is the launch of their Next Generation Marketplace, an API-first platform that completely overhauls their trading infrastructure. This wasn't a minor update; it was a fundamental rebuild designed to handle the next wave of private market liquidity. Plus, their strategic partnership with Charles Schwab, announced in November 2025, is a bold move to potentially expand market access to over 46 million investors and advisors. That's a huge bet on the future of private market inclusion. Here's the quick math: expanding the addressable market by that much is the definition of a daring spirit.

• Launch Next Generation Marketplace for better liquidity.
• Partner with Charles Schwab to reach 46 million investors.
• Drive H1 2025 Trading Volume to $1.4 billion.

We Are Accountable

Being Accountable means you sign up, commit, and deliver. In the financial world, that commitment shows up in the numbers, especially the path to profitability. For a growth company, this means taking ownership of operating expenses and showing a clear trajectory toward breakeven.

The Q2 2025 financial results demonstrate this value in action. The Total Revenues Less Transaction-Based Expenses hit $27.6 million, marking their second consecutive record revenue quarter as a public company. More importantly, their Adjusted EBITDA loss improved to $5.4 million in Q2 2025. That $5.4 million loss is the lowest they've reported as a public company, which is a tangible result of taking ownership over their cost structure and delivering on their promise to improve efficiency. They are holding themselves accountable to the 2026 Adjusted EBITDA breakeven target, and that Q2 number is proof of progress.

We Are Humble

Humble is often the hardest value for a high-growth company to live up to, but it's critical. Forge Global Holdings, Inc. defines it as exemplifying excellence without arrogance, respecting others, and learning from them. For them, this translates into a culture focused on transparency and internal resiliency.

On the product side, humility means listening to client needs to build a less opaque private market. Their Forge Data product, which provides market intelligence and data analytics, is a direct result of acknowledging the traditional lack of information in the private sector and striving to fix it. Internally, the company fosters a 'culture of praise and resiliency'. While older data, their focus on Diversity and Inclusion (DE&I), with 40% of new hires being women and 45% from under-represented backgrounds in a prior year, shows a commitment to learning from diverse perspectives and acting out of care for their team. You can't improve without being willing to listen and learn.