Alternative investment platform Artivest has been able to achieve impressive growth over the last few years, attracting new investors, allocations, investment managers, and surpassing $1 billion in new investments transacted online.
Founded in 2011, the company, located in New York and California, has been backed by Aquiline Capital Partners, Genstar Capital, Kohlberg Kravis Roberts & Co. (KKR), and Thiel Capital. It has raised a total of $17 million in funding over three rounds, with its last raise coming in 2015 from a Series A round led by KKR.
The company offers an Open Network investment platform that provides high net worth investors and financial advisors access to alternative strategies, including private equity, hedge funds, managed futures, and real assets. Specialists on the platform include WM Partners, EJF Capital, LaSalle Investment Management and KKR.
Last year Artivest made several personnel changes, appointing executive chairman Martin Beaulieu as CEO, while former CEO and founder James Waldinger moved to the role of president. In addition, FinTech veteran Karl Jaeger was appointed Chief Financial Officer and James Hale was named Head of Platform.
And now the company has announced that it is set to be acquired by iCapital Network for an undisclosed sum. As part of the deal, iCapital will purchase the majority of Artivest’s assets, including all technology and its operating platform, as well as the management of Artivest’s 28 proprietary alternative investment funds. In addition, 28 team members are expected to join iCapital.
Once the transaction closes, iCapital will service more than $55 billion in client assets across approximately 650 funds, 115,000 underlying accounts, and more than 70 white label partners. Artivest will continue to manage the legacy Altegris mutual fund business, as well as commodity pools that are not being acquired by iCapital.
“We are pleased to reach an agreement with iCapital, which is well positioned to deliver the quality and continuity of client experience that is central to Artivest’s offering,” said Beaulieu. “We are confident that iCapital is the right service provider for our managers, advisors, and their clients.”
