Singapore-based digital marketplace for alternative investments Alta (previously known as Fundnel) announced Monday the acquisition of the leading private digital securities exchange Hg Exchange (HGX).
Alta said in a statement the acquisition will enable the firm to support the tokenization and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate, and luxury assets.
The deal will see HGX become a wholly-owned subsidiary of Alta.
Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.
The acquisition comes hot on the heels of Alta’s recent rebrand from Fundnel and supports the firm’s vision and mission of ‘alternative assets for all’ – creating a marketplace that gives everyone access to alternative asset investments.
The deal will significantly enhance Alta’s service offering by bringing three core parts of its business under one roof – private market investment, trading of tokenized asset- backed securities, and direct access to funds managed by Alta.
“Our acquisition of Hg Exchange marks a new chapter in our journey to revolutionize private markets with a blockchain-powered digital exchange, bringing enhanced access and liquidity to alternative investments for all investors,” said Kelvin Lee, Chief Executive Officer and Co-Founder of Alta.
“Our goal is to connect promising new opportunities with capital. Today, by standardizing processes around our tokenized listings, we make investing in alternative cost-effective and transparent for investors,” he added.
To date, Alta has facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets.
It has generated over $600 million in transactions and created access to over $22 billion worth of mandated deals for its global investor community.
“With the new brand launch and acquisition of Hg Exchange, Alta is affirming its leadership in private markets and continues to pave the way for broader acceptance of tokenized, asset-backed securities,” said Hajime Ikeda, Head of Digital Company at Nomura Holdings.
HGX is a leading private digital securities exchange in Southeast Asia, recognized for enabling institutions to better serve their investors by supporting secure and efficient trading of alternative assets.
Its innovative digital infrastructure is powered by advanced blockchain technology and uses proven exchange solutions.
Alta is a firm that gives investors direct access to invest and trade in a wide range of curated alternative assets, from direct investment into early to late-stage private companies, private equity (PE)/ venture capital (VC) funds, asset-backed securities of luxury assets, real estate and more.
As a licensed integrated marketplace, Alta brings the trading and distribution of securities, fund management, and payments solutions under one roof.
Through its blockchain-powered exchange, Alta is also able to support tokenization, digital custody, and trading of alternative assets.
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