Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Home

Marketplace
Database
News
Store
Resources
Contact Us

 

 

News


VENTURE CAPITAL DIRECTORY | PRIVATE EQUITY DIRECTORY

List of Venture Capital / Private Equity Firms and Sources
Published since 1998, VCPro Database is the most reliable, up-to-date and affordable venture capital directory

2021 EDITION SPECIAL OFFER
Buy Now for only $119.95 plus a FREE 2022 update in January 2022

Learn More or Buy Now

VCPro Database 2021 24th Edition -- a downloadable and searchable venture capital database with 6,500+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. (Updated JULY 2021)

Learn More or Buy Now




Alto Closes $17 Million Series A Funding Round to Accelerate Development of Next-Generation Alternative Investment IRA Platform

Strategic investors back Nashville-based fintech raising the bar for self-directed IRA industry

NASHVILLE, Tenn., April 20, 2021-- Alto Solutions, Inc. (Alto), the next-generation self-directed IRA platform making it easier for individuals to access and invest in alternative assets using their retirement funds, today announced the successful close of a $17 million Series A funding round led by Unusual Ventures, with additional participation from existing investors Moment Ventures, Acrew Capital, and Alpha Edison, and strategic investments from Carta, Coinbase Ventures, Franklin Templeton, New York Life Ventures, and Stone Ridge Holdings Group. Alto will use the investment to accelerate the development of new products, further enhance its existing capabilities, and expand its product and engineering teams.

"Opening a self-directed IRA to invest in alternative assets like startups, real estate, or cryptocurrency should be easy," said Eric Satz, founder and CEO of Alto. "I founded Alto after spending weeks of frustration trying to navigate the outdated manual processes used by legacy self-directed IRA custodians, not to mention their endless fee menus. There's a lot of friction and unnecessary costs in the self-directed retirement industry, and Alto is on a mission to eliminate them. This funding round will rapidly accelerate the implementation of our vision and product roadmap."

According to the Investment Company Institute, as of 2020, approximately $33 trillion was held in retirement accounts in the U.S. alone. Yet, individuals have only allocated an estimated 2%-5% of that to alternatives. Meanwhile, ultra-high-net-worth individuals and sophisticated institutional investors like college endowments often hold 20%-50% or more of their portfolio in alternatives.

Sarah Leary, co-founder of Nextdoor and partner of Unusual Ventures will join Alto's board of directors. "Unusual Ventures is thrilled to lead Alto's most recent round of funding. As the investment community expands its focus to include alternative assets, like cryptocurrencies, private equity, private credit, and real estate, we think individual investors should not be left behind. Alto's self-directed IRA platform has been built from the ground up to provide individuals a seamless, tax-efficient way to invest in alternative assets using their retirement savings. We are excited to help fuel Alto's efforts to help democratize participation in these exciting alternative asset opportunities."

Shan Aggarwal, Head of Coinbase Ventures: "We began our relationship with Eric and Alto in 2019 and have observed the strength of their team and growth potential first hand. We're excited to participate in this latest funding round and continuing to partner to make it easier for individuals to invest and trade cryptocurrency in tax-advantaged retirement accounts."

Ammar Hanafi, General Partner of Moment Ventures: "True portfolio diversification requires an allocation to a broad range of public and private investments, including alternative assets. Roughly 70+% of all U.S. savings are held in retirement accounts, and only 2%-5% of that is invested in alternatives, which tend to be illiquid and have longer investment horizons. Alto provides an easy way for individuals to diversify their portfolios, using their retirement funds in a way that up until now has only been available to the wealthiest in this country. We're thrilled to welcome Unusual Ventures to the Alto Board, and Coinbase, Franklin Templeton, New York Life Ventures, and others as new investors."

For more information about Alto, please visit: www.altoira.com.

About Alto

Alto is a Nashville-based financial technology company that launched its next-generation self-directed IRA platform in 2018 to make it easy for individuals to access and invest in alternative assets using their retirement funds. The first of its kind, Alto's platform streamlines the process for investors, investment funding portals, and investment sponsors alike. Among Alto's current investment partners include AngelList, Coinbase, EquityZen, Masterworks, Republic, and Wefunder, as well as financial advisors, fund sponsors, and other direct issuers. Alto is not a registered broker-dealer or investment advisor. Custodial services provided by Alto Trust Co.

For more information, please visit www.AltoIRA.com or follow Alto on LinkedIn, Twitter, and Facebook.


News Index

Venture Capital Database 

 

 NEWS

Latest VC News
VC News Archive
News Search
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Business Plan Tools

Free Business Plan Template

 

Copyright 1998-2021 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer