Ondo Finance launches private market platform via tokenized AI notes

Ondo Finance has launched Ondo Private Markets, a platform designed to provide eligible investors with economic exposure to private companies through tokenized notes. The inaugural offering is tied to an unnamed pre-IPO artificial intelligence company, with secondary market trading expected to begin this week on a 24/7 basis.

The tokenized notes are debt instruments issued by the company rather than actual equity. Consequently, holders do not possess shareholder rights, voting rights, or direct ownership of the underlying assets. Instead, the payout of each note is linked to the per-share value of the target company’s common stock during a liquidity event, such as an initial public offering or an acquisition.

Access to the product is restricted to qualified investors in permitted jurisdictions; U.S. persons are explicitly excluded as the notes are not registered under the U.S. Securities Act of 1933. Following the initial AI-focused offering, Ondo plans to expand its exposure to sectors including robotics, cybersecurity, biotechnology, infrastructure, and defense.