New York–(work wire) – Opto Investments (“Opto”), the technology-enabled private market access solution for independent investment advisors, announced today that it has come out of cover with $145 million in Series A funding. Opto is led by co-founder and CEO Mark Machin, and co-founder Joe Lonsdale serves as Chairman. The company worked undercover as “LIT.”
Tiger Global led the first round of Series A with participation from 8VC, MSD Capital from Michael Dell, Clocktower Ventures, FinVC, HOF Capital, among others. Opto has already partnered with more than 80 RIAs and will use the capital to secure investment opportunities for its clients, further expand its business, and add to its 45-member team.
Provide access to private markets for investment advisors and their clients
“The world is staring at daunting challenges in this decade and beyond. Chairman Joe Lonsdale, who is also a managing partner at 8VC, said our experience in Silicon Valley and the US innovation ecosystem is that well-funded entrepreneurs can solve these problems and bring prosperity. “I co-founded Opto with the best talent from the worlds of technology and finance to open private markets to top investment advisors and their global clients like never before – and unlock new capital for the world’s greatest innovators who are building the future.”
Despite the growing role of alternatives in supporting the innovation economy, the vast majority of savings around the world have little or no access to alternative assets, and a medium-wealth advisor has 0-4% of his portfolio in private investments, often due to a lack of resources and effective access. Private markets remain an untapped and growing opportunity, representing less than 10% of the total volume of public markets.
Opto has created a platform to help RIAs scale up their practices with access to exclusive private market investments. Opto provides an intuitive framework for exploring the private market landscape, integrating client goals and interests, understanding how respected family offices operate, and transforming insights into actionable investments.
Co-founder and CEO Mark Machin said:At CPP Investments, one of the largest global asset owners, I have been privileged to be able to access the best private investment opportunities in the world. These major private investment opportunities are rarely available to individual investors; Opto’s mission is to change that. Our vision at Opto is to use technology and innovation to break down barriers and provide superior access to investment advisors and their clients. I am excited to be on this mission with my talented colleagues.”
Opto simplifies investment processes and integrates with existing vendors and technology. The platform manages the process from start to finish: from sourcing, diligence, and fundraising; To monitor positions, schedule capital calls, service investors and prepare reports. This allows investment advisors more time to focus on client outcomes and revenue growth.
Veteran Leadership Team
Opto is led by a veteran leadership team with strong networks across the alternative investment industry.
Co-founder and CEO of Opto, Mark Machin was most recently President and CEO of CPP Investments, which manages more than C$500 billion and is one of the world’s leading private market investors. Mark is also a member of the International Advisory Board of the Singapore Investment Corporation (GIC), the sovereign wealth fund of Singapore, and an advisor on the Portfolio Strategies Committee. He also served as President of FCLT Global, a think-tank established to encourage capital markets to focus on deploying capital over the long term.
Joe Lonsdale, CEO of Opto, is a managing partner at 8VC and founder of companies like Palantir, OpenGov, and Addepar. Lonsdale served as CEO of Addepar, which now has more than $4 trillion in reporting through its wealth management technology platform, and remains president of that company.
The rest of Opto’s leadership team includes industry experts from Addepar, Artivest, BlackRock, Bridgewater, CAIS, FS Investments, PIMCO and WP Carey.
About Opto Investments
Opto Investments provides independent investment advisors with a comprehensive solution for accessing private market investments. The Opto Investments platform connects investment advisors with top performing managers and a full suite of alternative asset tools to help attract clients, increase revenue and ensure their clients can access the best possible private investment opportunities.
For additional information, please visit the Opto Investments website and LinkedIn.
8VC is a leading technology and life sciences investment firm headquartered in Austin, Texas, with offices in San Francisco and New York. 8VC collaborates with the world’s best technology to build companies that create long-term value for the world.