FinovateSpring 2022 / OpenAlt
Presenter Profile:
How they describe themselves: One-stop solution for investment in private businesses, including:
- Investment dashboard and marketplace for private investment offerings
- Automated due diligence workflow for financial advisors and other fiduciaries that recommends non-publicly traded investments to their clients
- Full cycle custodial integration including support of the tax-advantaged plans (IRA / 401k)
- Private market investment transactional automation
How they describe their product/innovation: Parties involved:
- Individual investor with IRA account
- Their financial advisor
- Sponsor of the private placement investment opportunity
- Third-party IRA custodian
Demo flow:
- Advisor submits private placement investment on behalf of their individual client (IRA account)
- Individual client electronically approves the transaction
- Custodian automatically e-signs subscription agreement. Fully executed version immediately becomes available to all parties
- Custodian automatically initiates transfer of funds to the sponsor
Product distribution strategy: Direct to Business (B2B), Through financial institutions, Through other fintech companies and platforms
Contacts:
Bus. Dev.: Rachel Stolrow, rachel@openalt.com
Press: Nikita Brodskiy, nbrodskiy@openalt.com
Website: https://openalt.com
HQ: Oakland, CA, USA
Founded: March 2021
Product Demoed: Private market investment automation for financial advisors utilizing third-party IRA custodian integration
Metrics: $50M – Total amount of capital raised through OpenAlt, $2.5B – Aggregate target raise of all private offerings listed at OpenAlt
Presenters: Nikita Brodskiy, Co-founder, OpenAlt | Anton Charnotski, Co-founder, OpenAlt
- Key Executives
Nikita Brodskiy (Co-Founder), Anton Charnotski (Co-Founder)
Key Advisory Board Members: Chris Carsley, CAIA, Chapter Head, Darren Whissen, Atomi Financial Group
Key Stats
- Key Partners
The Entrust Group (custodian of self-directed IRA accounts), Kirkland Capital Group (private equity and debt RE investment platform), Atomi Financial Group (registered investment advisor), Aliso Advisors (FINRA and SEC compliance consulting firm), CAIA Association (Seattle Chapter)
- Key Customers
BV Capital, West Monroe Capital, Reliant Real Estate Management, Upside Avenue, Legion Capital, Rubicon Mortgage Fund, Boveda Asset Management, Grayscale, NOYACK Capital, Infusion Capital, Novak Capital Management, Green Canopy Housing