WestCap leads strategic investment round in Templum
Templum, a provider of next-generation capital markets infrastructure for alternatives and private securities, has closed a strategic financing round led by WestCap.
The partnership enables Templum to expand on marketplace services for its growing list of global clientele and enhance liquidity for institutional and retail investors across the ecosystem. Templum and its wholly owned broker dealer subsidiary, Templum Markets, deliver transparency and liquidity to investors and marketplaces with its frictionless, end-to-end white-label trading technology products, using its proprietary Alternative Trading System (ATS) and brokerage solutions.
"The most recent investment from WestCap advances Templum's strategy to transform the alternative asset sector," says Templum CEO Christopher Pallotta. "Our innovative modular infrastructure powers marketplaces by offering fractionalised investing in alternative assets such as private equity, limited partnerships, real estate, collectibles, art, commodities, and debt products. We're seeing increasing appetite from investors for alternative assets and have experienced that first hand with our clients. The partnership with WestCap accelerates distribution and adoption of alternative assets with Templum as the underlying infrastructure."
The investment was led by Laurence Tosi, WestCap's founder and former CFO of Airbnb and Blackstone, and by Scott Ganeles, senior partner at WestCap, who will now join Templum's Board of Directors. As longtime partners, Tosi and Ganeles also co-founded iPreo, a leading capital markets fintech company acquired by IHS Markit. WestCap has been actively monitoring the alternative asset industry as investor allocation to alternatives has grown throughout shifting economic trends over the past year. Per research firm Preqin, the alternatives asset industry is projected to increase to $17.14 trillion AUM by 2025 as alternatives are expected to continue to outperform public markets and bring significant diversification benefits to an overall portfolio strategy.
"We're excited to partner with Templum as their proven technology and efficient marketplace removes the complexity in the alternative asset industry for capital markets participants," says Scott Ganeles. "Templum's streamlined solution is key to driving liquidity and transparency for alternative assets. Our investment in Templum expands access to the industry and positions WestCap, Templum, and their clients to capitalise on a space that is growing exponentially."