California, USA-based company which specializes in expanding investor and business access to tokenized alternative assets, Securitize acquired San Diego, USA-based digital asset wealth platform, Onramp Invest. The company announced the acquisition on August 17, 2023. However, it did not disclose the amount of the transaction.
Purpose of the transaction by Securitize
With the latest acquisition, RIAs, the product of Securitize, seeks to instantly offer, for the first time, their client’s investments in top-performing alternative asset classes such as private equity, private credit, secondaries, real estate, and more, via Onramp Invest dashboard, increasing and further diversifying the investments they are able to manage with their existing reporting systems.
Securitize’s alternative investment portfolio will have RIAs which further help to offer their clients institutional share classes from top alternative asset managers, lower minimum investments, lower fees, and access to liquidity. In addition, RIAs are able to offer their clients access to attractive, liquid alternative investment1 classes, such as Private Equity, Private Credit and Secondaries.
What the Securitize official has to add
Securitize CEO Carlos Domingo said, “Our acquisition of Onramp is another big step forward in expanding investor access to top-performing alternative assets and in democratizing private capital markets. Onramp already offered RIAs easy access to digital assets, so it is a very natural extension to offer them tokenized alternative assets to complement their portfolios. Most wealth is generated in private market alternative assets, and bringing Securitize and Onramp together enables registered investment advisors to give their clients access to that wealth generation.”
What the Onramp Invest has to add
Eric Ervin, Founder and CEO of Onramp Invest, further said, “We started Onramp with the goal of breaking down barriers for advisors to access meaningful investment opportunities for their clients, and there’s no better way to continue that mission than working with Securitize. More advisors would choose alternatives for their clients because the benefits are clear, but challenges like illiquidity and restricted access were previously significant problems to overcome. Securitize solves this through offering lower minimums, lower fees, and potential for exit liquidity through secondary markets. Tokenization will be a major player in the investment space, and it’s imperative that all financial professionals are able to embrace this change.”
About Onramp Invest
In 2020, Founders Eric R. Ervin and Tyrone Ross launched Onramp Invest. The transaction, which has expectations to close in the coming days, will have Onramp continue operating as a subsidiary of Securitize and integrate Securitize products into their existing offering over time.
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