There is a global biodiversity funding gap, and rapid efforts to mobilise private funding to fill this gap. Attempts to commodify biodiversity to create markets and harness return-seeking investment into conservation have now been practiced for half a century. What have we learned about how or whether private finance can become part of the solution, rather than a systemic driver, of biodiversity loss? In this talk I’ll give a tour of a few biodiversity markets we’ve studied in England and Australia and highlight what we’ve learned about how to make nature-markets work for nature.