(Bloomberg) -- Nasdaq Inc.’s new trading venue for closely held companies has plans to grow quickly and go global, Chief Executive Officer Adena Friedman said Wednesday.

The marketplace could capture a wide range of business, representing $500 million to $1.5 billion of total revenue opportunity, Friedman said on a call with analysts and investors Wednesday. Nasdaq announced the joint venture with SVB Financial Group, Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley on Tuesday.

“It’s a big opportunity that we’re going after over the next five to 10 years,” Friedman said on the call.

Demand for investing in private companies has grown in recent years along with a boom in novel ways to bring them public, including the use of blank-check firms. Nasdaq said its platform will give closely held companies, brokers and investors the ability to access, manage and execute their stock transactions through a global marketplace, which will in turn increase liquidity.

Nasdaq is considering expanding the joint venture over time with additional banks who can contribute investment dollars to the business, particularly overseas, executives said on the call. The New York-based company is looking to eventually take the platform worldwide, which would require accreditation for institutional investors, they said.

The program isn’t yet “a global platform at this point, but it’s certainly something we have on the agenda,” Friedman said.

Nasdaq, which is contributing its Nasdaq Private Market to the joint venture, will remain the largest shareholder of the standalone company after the deal is completed, Friedman said. The business reported $20 million in revenue over the past 12 months.

The joint venture should be completed quickly, with approval already underway, Friedman said. “We’re seeing a lot of interesting and additional interest from institutional investors and other shareholders to use the Nasdaq Private Market for price discovery, continuous trading” and other programs, she said.

Shares of Nasdaq rose as much as 3.4% Wednesday morning after the company reported that second-quarter revenue climbed 21% from a year earlier, supported by growth in its market-services and solutions divisions.

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