ALT Announces $200 Million in New Funding Led by Atalaya Capital Management as It Launches ALT Advance, Its New Lending Product

ALT Advance Offers Liquidity Against Investment Grade Alternative Assets


ALT, a simple, modern investment platform that lets you buy and sell alternative assets just like stocks, today announced $200 million in new debt financing led by Atalaya Capital Management. The new funding comes on the heels of ALT's introduction of ALT Advance, a new lending product that lets investors borrow cash against their vaulted assets without having to sell them. ALT Advance provides liquidity against graded collectibles such as trading cards, watches, and sneakers, giving them a similar utility that is also afforded to traditional assets.

Mark Ricciardi, Head of Lending at ALT, says: "ALT has been able to transform its best in class data and vaulting infrastructure into a first of its kind productized lending solution for graded collectibles. ALT Advance is a revolutionary product that gives borrowers access to near-immediate liquidity in a flexible fashion, at affordable rates. Soon, ALT will be extending its lending solution into other areas such as venture-backed equity interests as we pursue our goal of unlocking the value of high-quality alternative assets."

Here's how ALT Advance works:

  • Send assets to the ALT Vault: Borrowers send their graded collectibles to ALT's secure vaulting facility for safekeeping. 
  • Review terms: Borrowers review the transparent terms and conditions offered in real-time against their portfolio.
  • Pay flexibly: Borrowers are able to prepay on a flexible payment schedule, including early payments, without penalty. 

Borrowers have access to personalized support from experts throughout the entire process. 

Alexis Ohanian, Investor, and Advisor at ALT, says: "I'm proud to have a front row seat for what ALT is creating. ALT's partnership with Atalaya for ALT Advance is a major milestone and innovation for ALT's customers and for the alternative assets industry overall. This launch is proof that ALT is living their mission to transform investing by unlocking the value of alternative assets."

Brian Moore, a Principal at Atalaya, says: "ALT's team has taken a novel approach to extending the reach of financial services. Atalaya's financial assets practice is well-aligned with this goal. We are excited to be associated with ALT and look forward to helping them continue to grow and flourish."

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About ALT: 

ALT is a Series B, venture-backed company that has raised a total of $106M in equity and is valued at over $325 million. Investors include notable VCs Spearhead, BoxGroup, and Alexis Ohanian's Seven Seven Six and professional athletes such as Tom Brady, Giannis, and Thanasis Antetokounmpo, Kevin Durant, Alex Morgan, Candace Parker, and Marlon Humphrey.

ALT is an alternative investment platform that's transforming how the world invests by unlocking the value of alternative assets.

By turning some of the most culturally beloved collectibles into financial assets that can be traded and borrowed against, ALT is building an investment platform for the future. Providing liquidity, utility, and transparency to an industry that traditionally has been fragmented and hard to understand. ALT leverages its proprietary valuation data, vaulting infrastructure, and blockchain technology to bridge the physical and digital worlds, creating more investment opportunities for alternative assets.

About Atalaya

Atalaya Capital Management is an ~$8.5B privately held, SEC-registered, alternative investment advisory firm. Atalaya primarily focuses on making private credit and special opportunities investments in three principal asset classes - financial assets, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City.

Source: ALT