Alternative asset markets are highly lucrative for those who can get into them — the problem has always been being wealthy enough to get into them.
Arta Finance is looking to change that — mind you, you’ll still have to be pretty rich.
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The Mountain View, California-based startup is creating what it calls a digital family office — where accredited investors that may not be part of a family office themselves will have access to the alternative assets, which include investments such as private equity, venture capital, private debt and real estate.
Breaking down barriers — eventually?
Arta announced it locked up $90 million while in stealth mode from the likes of Sequoia Capital India, Ribbit Capital, Coatue and more than 140 tech and finance entrepreneurs, including Betsy Cohen, Eric Schmidt and Ram Shriram.
“We believe that a high-powered financial strategy and a secure, happy future shouldn’t be the monopoly of the ultra-rich,” said Caesar Sengupta, Arta CEO and co-founder in a release.
“Everyone should have a chance to take charge of their financial life in the same way that wealthier and financially savvier people do,” he added. “So we’re doing this the way we know best — by breaking down barriers to sophisticated finance with technology.”
There still will be barriers for most. Members must be accredited investors and start with at least a $10,000 investment.
However, Arta does plan to expand both its base of customers and geography. While it’ll first launch in the U.S. today for accredited investors, the company expects to get the necessary regulatory approvals to expand to other countries and investor segments.
Expanding the world of alternative asset investing beyond the reach of just family offices with extreme wealth and teams of investment advisers is an interesting idea, especially in a time of public market rockiness.
Illustration: Dom Guzman
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