Allocate Closes $10MM in Strategic Capital and Adds Key Personnel to Modernize Investment in Venture Capital

New funding comes as investments made through the Allocate platform near $500MM 

SAN FRANCISCO, Sept. 21, 2023 /PRNewswire/ -- Allocate, a platform that provides investors with a streamlined way to invest and manage private investments, announced the closing of $10MM in financing, bringing the total capital raised since the company launched in July 2021 to $33.5MM.

The round included Gopher Asset US, an affiliate with Noah Holdings International (NYSE: NOAH), Intera Investments, M13 Ventures, along with several prominent family offices.

"This new capital bolsters our balance sheet to allow us to further accelerate our vision of modernizing investment into venture capital by granting investors a previously unavailable level of curated access and portfolio transparency," said Samir Kaji, CEO & Co-Founder of Allocate. "With over 600 active RIAs and Family Offices having deployed nearly $500MM through the Allocate platform across 58 manager strategies since our Q4 launch, it is clear that the demand for high quality venture remains strong but the infrastructure to access and manage investments needs to improve significantly for investors of all types."

In addition to the new funding, Allocate has also added three key hires to the company. Nic Millikan, most recently Deputy Chief Investment Officer at CAZ Investments and previously Head of Investment Strategy at CAIS, will head up Family Office solutions for the company. Peter Epstein, most recently Executive Director and Alternative Investments Specialist at JP Morgan and Gregory Rollins, most recently Senior Vice President at iCapital Network, will also join as part of Allocate's relationship management team for Private Banks and Wealth Advisory firms.

"The interest in venture capital investing has grown significantly among non-institutional investors, but the tools and services to invest responsibly in the asset class have not historically been available to them," said Nic Millikan. "What excited me about Allocate is that, in a very short period of time, they have built an incredible community of investors and managers, and the company's vision in making venture investing more accessible, transparent, and liquid."

Alternative investments are rapidly becoming a staple in individual client portfolios. With the equity and bond markets in a state of flux, alternatives have shown that they can improve performance while reducing volatility. Within alternative investments, venture capital is a unique and growing segment - especially for non-institutional investors. However, these same investors lack the tooling and education to make effective investment decisions. Allocate has built a platform that makes venture investing more accessible, effective, and transparent.

About Allocate

Founded by Samir Kaji and Hana Yang in 2021, the founding team is uniquely positioned to unlock access to the new era of venture capital investing. The two co-founders have worked closely with over 1,500 venture fund managers in their careers. The Allocate team previously had tenures at SVB Financial Group, SVB Capital, Hamilton Lane, Makena Capital, Commonfund, CAIS, Bowdoin Endowment, iCapital Network, Fidelity, First Republic Bank, Gradifi, and Vistaprint.

SOURCE Allocate

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