AltoIRA, a Fintech that Enables Individuals to Use their IRA to Invest in Startups, Finalizes Crowdfunding Campaign on Republic

AltoIRA, a Fintech firm that enables individuals to use their IRA to make investments in startups, private real estate, crypto-assets, and art has finalized a “unique” $1 million crowdfunding campaign on Republic, a leading US-based investment crowdfunding platform.

As confirmed in a note shared with CI, AltoIRA has previously secured more than $9.8M in capital from well-known investors such as Moment Ventures, Jefferson River Capital (Vice-Chair of Blackstone Tony James’s Family Office), T.H. Lee, Sequoia Scout, Foundation Capital, Amplify LA, and Alumni Venture Group.

As mentioned in the update:

“AltoIRA is seeing surging demand from individuals for alternative investments. Total active users on their platform have grown nearly 5 times in the last 12 months, and they now have more than 21 partners who accept IRAs for investments – AngelList, Republic, Masterworks, among them. Retirement investors are interested in alternatives for several reasons, including better diversification to manage election volatility.”

As reported last month, AltoIRA had partnered with Republic to enable IRA investors to hold securities sold via Republic.

According to AltoIRA, Republic’s members may now invest in privately-held startups using their IRAs. AltoIRA allows individuals to set up an IRA to invest in alternative assets including private equity, real estate investments, venture capital, private funds, cryptocurrency, securitized art, and more.

According to the offering page, AltoIRA had been seeking up to $1.07 million (the Reg CF funding cap) in a SAFE with a 10% discount. AltoIRA had a valuation cap of $30 million. 

Eric Satz, founder and CEO of AltoIRA, had said they are committed to leveling the playing field when it comes to providing opportunities to investors and accessing alternative asset classes:

Satz had also mentioned:

“Through our partnership with Republic, investors can now use their IRAs to invest in mission-driven startups like AltoIRA. We have several additional partnerships in the works that will provide retirement savers with even more opportunities to diversify their savings in long-term investments with higher returns.”

AltoIRA reports that its investors invest 4x the amount than non-Alto investors do, per investment. Additionally, Alto investors go on to make 2x the number of investments as non-Alto investors.

The offering page states that Alto has 1,230+ active, funded accounts with approximately 3,000 active investments and more than $75 million in assets under custody.

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