Alta, previously known as Fundnel, has announced the acquisition of the leading private digital securities exchange, Hg Exchange (HGX).
The acquisition will enable Alta to support the tokenization and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate, and luxury assets.
The deal will see HGX become a wholly-owned subsidiary of Alta. Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.
The acquisition comes hot on the heels of Alta’s recent rebrand from Fundnel and supports the firm’s vision and mission of ‘alternative assets for all’ – creating a marketplace that gives everyone access to alternative asset investments.
The deal will significantly enhance Alta’s service offering by bringing three core parts of its business under one roof – private market investment, trading of tokenized asset-backed securities, and direct access to funds managed by Alta.
“Our acquisition of Hg Exchange marks a new chapter in our journey to revolutionize private markets with a blockchain-powered digital exchange, bringing enhanced access and liquidity to alternative investments for all investors,” said Alta CEO and co-founder Kelvin Lee.
“Our goal is to connect promising new opportunities with capital. Today, by standardizing processes around our tokenized listings, we make investing in alternative cost-effective and transparent for investors.”
To date, Alta has facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets. It has generated over $600 million in transactions and created access to over US$22 billion worth of mandated deals for its global investor community.
HGX is a private digital securities exchange in Southeast Asia, recognized for enabling institutions to better serve their investors by supporting secure and efficient trading of alternative assets. Its innovative digital infrastructure is powered by advanced blockchain technology and uses proven exchange solutions.