Usetap
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Tap is a New York-based market infrastructure and data platform for the LP secondaries market in private funds.
Also known as Stakehold, Inc. · Tap
Investors · 1
Company profile
researched Aug 2026Tap, operated by Stakehold, Inc. and reachable at usetap.com, provides market infrastructure for the limited partner (LP) secondaries market, where investors buy and sell existing stakes in private funds. The platform combines market pricing data, fund and company fundamental data, a permissioned data room, a bidding engine, and settlement tooling, alongside sellside advisory services. It describes itself as serving limited partners seeking real-time valuations and portfolio liquidity, general partners arranging liquidity solutions for their funds and LPs, and secondaries funds sourcing deal flow and pricing data.
The product set is organized around two pillars: market data and transaction infrastructure. On the data side, Tap aggregates historical and real-time bid, ask, and trade information contributed by large secondaries investors, and uses AI to extract fund-level and company-level fundamentals from fund reporting, including GP marks and portfolio company capital structures. On the transaction side, the platform supports multi-party, multi-round bidding processes with comparison of differently structured bids, a structured data room with multi-party permissions, and settlement dashboards, reporting, compliance tools, standardized documentation, and monitoring of money movement and subscription documents.
The company is headquartered in New York, NY and is categorized in financial services, with an employee count in the 1-50 range.
Founding story
Tap was co-founded by Jeff Leathers, who previously started and led the SPV and fund formations businesses at Carta and held product roles at Quovo (acquired by Plaid) and Bloomberg, and Thomas Krueger, who previously built product and go-to-market functions at NewStore and had earlier founded venture-backed companies.
Business model
Tap operates a software and data platform for private-market secondary transactions and also acts as an advisor on sellside processes, positioning itself between limited partners, general partners, and dedicated secondaries funds across sourcing, pricing, execution, and settlement.
Traction
The company cites a global investor network representing $500B in assets under management, and team-level figures of 250+ completed transactions and over $10B in total volume as of Q1 2024, which include transactions directly advised at prior firms.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Tap positions itself as a market infrastructure provider for the LP secondaries market, stating that a majority of the largest and most active secondaries funds use it to source deal flow and access pricing data, and that its investor network represents $500B in AUM.
Tap emphasizes a vertically integrated workflow spanning pricing data, data room, bidding, and settlement, combined with an AI-extracted fundamental data set on funds and underlying companies and a team experienced in private markets transactions.
Technology
The platform provides real-time and historical bid, ask, and trade pricing data sourced from large secondaries investors; AI-based extraction of fund-level and company-level fundamental data from fund reporting, including GP marks and company capital structures; a structured data room with multi-party permissioning; multi-round, multi-party bidding software with bid-structure comparison; and settlement tooling covering dashboards, reporting, compliance, standardized documentation, and money-movement and subscription-document monitoring.
Go-to-market
Prospective users register for accounts on the site and are directed to speak with Tap's advisory team; the company also positions its advisory relationships with institutions, fund managers, and secondaries funds as a channel into platform usage.
Institutional limited partners managing private fund portfolios, general partners and fund managers arranging liquidity for their LPs, and secondaries funds seeking deal flow and pricing data.
Geography
Headquarters in New York, New York, United States, with a stated global investor network.
History
The company's terms of service, published under the entity Stakehold, Inc., were last updated June 19, 2022. As of March 2026, third-party executive records list a leadership team including co-founder and CEO Jeff Leathers, co-founder Thomas Krueger, a head of capital markets, head of operations, senior vice president, capital markets principal, and engineering leadership.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
▸Research sources · 6
primary sources listed
- Usetapusetap.com · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Usetap do?
- Tap is a New York-based market infrastructure and data platform for the LP secondaries market in private funds.
- Who are Usetap's investors?
- Usetap's investors include Courtside Ventures.