New funding comes as investments made through the Allocate
platform near $500MM
SAN
FRANCISCO, Sept. 21, 2023 /PRNewswire/
-- Allocate, a platform that provides investors with a
streamlined way to invest and manage private investments, announced
the closing of $10MM in financing, bringing the total capital
raised since the company launched in July
2021 to $33.5MM.
Allocate closes $10MM in strategic capital
and adds key personnel to modernize investment in venture
capital.
The round included Gopher Asset US, an affiliate with Noah
Holdings International (NYSE: NOAH), Intera Investments, M13
Ventures, along with several prominent family offices.
"This new capital bolsters our balance sheet to allow us to
further accelerate our vision of modernizing investment into
venture capital by granting investors a previously unavailable
level of curated access and portfolio transparency," said
Samir Kaji, CEO & Co-Founder of
Allocate. "With over 600 active RIAs and Family Offices having
deployed nearly $500MM through the Allocate platform across 58
manager strategies since our Q4 launch, it is clear that the demand
for high quality venture remains strong but the infrastructure to
access and manage investments needs to improve significantly for
investors of all types."
In addition to the new funding, Allocate has also added three
key hires to the company. Nic
Millikan, most recently Deputy Chief Investment Officer at
CAZ Investments and previously Head of Investment Strategy at CAIS,
will head up Family Office solutions for the company. Peter Epstein, most recently Executive Director
and Alternative Investments Specialist at JP Morgan and
Gregory Rollins, most recently
Senior Vice President at iCapital Network, will also join as part
of Allocate's relationship management team for Private Banks and
Wealth Advisory firms.
"The interest in venture capital investing has grown
significantly among non-institutional investors, but the tools and
services to invest responsibly in the asset class have not
historically been available to them," said Nic Millikan. "What excited me about Allocate is
that, in a very short period of time, they have built an incredible
community of investors and managers, and the company's vision in
making venture investing more accessible, transparent, and
liquid."
Alternative investments are rapidly becoming a staple in
individual client portfolios. With the equity and bond markets in a
state of flux, alternatives have shown that they can improve
performance while reducing volatility. Within alternative
investments, venture capital is a unique and growing segment -
especially for non-institutional investors. However, these same
investors lack the tooling and education to make effective
investment decisions. Allocate has built a platform that makes
venture investing more accessible, effective, and transparent.
About Allocate
Founded by Samir Kaji and
Hana Yang in 2021, the founding team
is uniquely positioned to unlock access to the new era of venture
capital investing. The two co-founders have worked closely with
over 1,500 venture fund managers in their careers. The Allocate
team previously had tenures at SVB Financial Group, SVB Capital,
Hamilton Lane, Makena Capital, Commonfund, CAIS, Bowdoin Endowment,
iCapital Network, Fidelity, First Republic Bank, Gradifi, and
Vistaprint.
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SOURCE Allocate