Alto, a startup making it easier to put retirement savings into alternative investments, has raised $5.4 million in its seed round.
Tony James, Blackstone’s executive vice chairman, Jake Gibson, NerdWallet’s cofounder, and Sequoia Capital all invested.
Here’s the 19-page pitch deck Alto used to “gin up interest” for the company looking to shake up the $28 trillion retirement market, Eric Satz, CEO of Alto, told Business Insider.
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Making alternatives not so alternative.
That, in a nutshell, summarizes Alto’s goal of disrupting retirement investing.
The Nashville-based startup makes it easier to invest long-term savings in areas that are typically tough for Main Street to access, such as startups, private companies, and real estate. The fintech eases the process of connecting investors and those looking to raise capital.
It’s a big market opportunity for Alto, as currently only 1% of the $9 trillion in individual retirement accounts is invested in alternatives. Eric Satz, CEO of Alto, previously told Business Insider as much as 20% of all retirement savings, a $28 trillion market, could end up being put into alternatives.
“If we’re going to dig ourselves out of the retirement hole that we currently …read more
Source:: Businessinsider – Technology