Alto, a technology platform for investors to add alternative assets to IRAs, announced on Thursday it secured $5.4 million through its latest seed round, which was led by Jefferson River Capital and Moment Ventures. This investment round comes less than six months after Alto raised $2.8 million through its previous seed round.
As previously reported, Alto enables users to establish a self-directed IRA and to invest their savings in real-world assets like private companies, real estate, and even the building or restaurant. The company noted that it has taken the “headaches, paper cuts, and general frustration” out of alternative investing so you can focus entirely on the excitement of fueling the people, projects, and passions you know and trust.
“The Alternative IRA from Alto (an AltoIRA) is an individual retirement account that gives investors the freedom to invest in alternative assets like startups, private companies – including private equity and VC funds – real estate, marketplace loans, and digital currencies. In addition to direct company investments, Alto makes it simple and fast to invest on leading investment platforms like AngelList.”
Funds from the seed round will be used to continue the growth and development of the Alto platform.