Alt wants to transform investing by unlocking the value of alternative assets.
Alt tells you how much the card you want to sell or buy is worth, based on recent transactions and other data it aggregates from relevant sources. When we talked, Avidar showed me a card that was offered for sale on eBay for $250,000 but was worth a mere $37,000 according to Alt’s valuation.... [+]
His big aspiration is for Alt to become an exchange for private stock, as “venture-backed private equity needs to be disrupted. Private equity is all locked up, people are waiting for companies to go public, there is no pre-public liquidity market, no one has tackled it because it is so complex.” In 2021, fundraising for alternative assets, including private equity, real estate, infrastructure, private debt, and natural resources, surpassed $1.1 trillion, and total assets under management in alternatives exceeded $9 trillion, according to Moody’s 2022 asset management outlook.
Apollo Global Management CEO Marc Rowan, on a recent earnings call, predicted that individual investors would need to sharply increase their allocation to private markets to meet their savings needs. “I could see a day in the not-too-distant future when a client’s portfolio is not 10% or 15% alternatives but is 50% alternatives,” said Rowan.
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