# 131 Untangling: How to Unlock Private Markets w/ Ultan Miller

# 131 Untangling: How to Unlock Private Markets w/ Ultan Miller

From Untangling Web3 by Jack Davies & Alec Burns

May 27, 2026 · 34 min · Season 1 · Episode 131

About this episode

Ultan Miller discusses how to unlock private markets through standardized access to pre-IPO investments.

Private markets have become home to some of the world’s most valuable and transformative companies, from AI and robotics to space technology and fintech. But access to these markets remains restricted, fragmented, illiquid, and difficult for most investors to reach. As more companies stay private for longer, the ability to participate in the upside of innovation is increasingly limited to a small group of institutions, funds, and high-net-worth investors. In this episode of Untangling Web3, Ultan Miller, CEO of Hecto, explores how private markets can be unlocked through standardized, compliant access to pre-IPO investments. This conversation covers what is broken in today’s private market structures, how tokenization and blockchain can create new forms of access and liquidity, and why the future of investing may involve private market index products built around the most exciting sectors in technology. Key Points Discussed: Why Private Markets Are Locked Away: Many of the most important technology companies now stay private for longer, meaning everyday investors miss out on much of the growth before IPO. Access is restricted by regulation, wealth thresholds, deal scarcity…

People in this episode

Hosts: Jack Davies, Alec Burns

Guest: Ultan Miller

Topics covered

  • private markets
  • tokenization
  • blockchain
  • investing
  • pre-IPO investments
  • technology

Keywords

  • private markets
  • tokenization
  • blockchain
  • investing
  • pre-IPO
  • liquidity
  • technology

Mentioned in this episode

Organizations: Hecto

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