There are primarily two types of participants in primary market:

1. Investors
   1. Retail investors – high networth individuals
   2. Institutional investors
      1. Mutual funds
      2. Pension funds
      3. Private equity firms
      4. Venture capital firms
      5. Seed/Angel investors
2. Corporations
   1. Public companies
      • Traded in a stock exchange
   2. Private companies
      • Traded by private investors