Nasdaq Inc (NASDAQ:NDAQ) is to launch a dealing platform for privately-owned companies in a collaboration with a host of heavyweight Wall Street banks.

Goldman Sachs, Citigroup, Silicon Valley’s SVB and Morgan Stanley have put their names to the expansion of Nasdaq Private Market, which will become a standalone, independent company.

The new market will be open to private companies, brokers and investors to access, connect, manage and execute their stock transactions, Nasdaq said in a statement.

Companies will also be able to carry out tender offers, auctions and investor block trades alongside other services, Nasdaq said.

Recent years have seen a boom in private funding through events such as series rounds that enable owners to raise money without having to give up as much control as through a listing.

Institutions now are looking to increase their participation and offer access to their investing customer base.

Reuters reported last month that BlackRock, the world’s largest asset manager, said last month in an investor presentation that it wants more private investments in its portfolio after they notched up 18% growth last year or twice the rate of the broader industry.