Recently, the Dalmore Group revamped its platform that enables online capital formation.
Founded by Etan Butler, Dalmore supports firms seeking growth capital by enabling funding rounds under the full stack of securities exemptions, including Reg D, Reg A, and Reg CF. Dalmore also supports international funding rounds.
Dalmore is a FINRA-registered broker-dealer, and to date, it has helped firms raise over $3 billion through more than a thousand securities offerings.
The new updates to the tech-infused broker-dealer include the incorporation of artificial intelligence (AI) and an automated investor networking engine that is able to connect issuers to investors, including family offices, HNWIs, private equity, venture capital, and strategic capital partners.
Another key differentiator is that Dalmore can support dedicated sales teams.
As the ecosystem for private securities offerings improves with new legislation in the pipeline to enhance access to capital and opportunities for investors, Dalmore is well-positioned to benefit from regulatory changes.
In recent days, CI connected with Butler to gain additional insight into how Dalmore can support online capital formation. Our conversation is shared below.
How exactly is AI integrated into the funding process?
Etan Butler: AI is integrated into Dalmore Portal to improve speed, accuracy, and compliance across the investment lifecycle. We use AI to review, validate, and process investor documentation within our secure private cloud environment, ensuring that sensitive investor information remains fully protected while dramatically increasing throughput and reducing manual errors. This enables issuers to benefit from a faster and more consistent investment review process.
Are investor management tools something you built in-house? Can you provide some details on what this entails?
Etan Butler: Yes, our investor management suite is built entirely in-house as a core part of Dalmore Portal, and it reflects more than two decades of experience supporting online capital raises.
These tools include:
-
-
- Full investor lifecycle management, from onboarding through post-raise engagement
- Cap Table visibility and document management
- Communication tools for updates, announcements, and file sharing
- Workflow automation for tasks, compliance steps, and investor reminders
- Integrated data insights to help issuers understand investor behavior
-
For issuers, this means having a single unified system of record for all investors, offerings, and interactions. We are also expanding our Transfer Agent functionality, allowing issuers to manage ownership records and investor interactions even more seamlessly within the same Environment.
How do you anticipate this will improve the funding process for issuers? Is it time-money?
Etan Butler: Dalmore Portal materially improves the fundraising process by eliminating friction and consolidating every part of the investor journey into one streamlined process. Issuers save both time and money because:
-
-
- Investor onboarding becomes faster and centralized
- Compliance steps are more consistent and less manual
- Communication and document distribution are readily available for investors and the issuer
- Tasks, reviews, and approvals flow through structured, automated pipelines
-
A key innovation is our multi-asset checkout, which allows an investor to complete multiple investments within a single unified transaction flow—a first-of-its-kind feature designed to increase conversion and reduce drop-off during a raise. The result is a higher-velocity, lower-friction, and more cost-efficient capital raise.
For secondaries, are you plugged into any other marketplaces to enable trading?
Etan Butler: Yes. Dalmore integrates with multiple third-party Alternative Trading Systems (ATSs) to enable compliant secondary trading for issuers who choose to make their securities available.
Our integration framework allows for the pass-through of trade information directly to Dalmore Group as the Broker-Dealer, ensuring compliant review and execution.
This modular design gives issuers the flexibility to select the ATS that best fits their needs, while benefiting from Dalmore’s regulatory oversight and streamlined connectivity.
What about tokenization?
Etan Butler: Issuer interest in tokenization continues to grow, and the conversations we are having today are far more practical and regulatory-focused than in past cycles.
Dalmore Technology is actively evaluating tokenization pathways for 2026. We believe tokenization will become useful when it meaningfully improves settlement, transferability, or investor experience—and we are preparing for that future in a way that aligns with both regulatory expectations and issuer demand.
What should we expect for online capital formation in 2026?
Etan Butler: 2026 will be a transformational year for online capital formation as the industry moves from digital enablement to fully intelligent, automated, and network-driven fundraising infrastructure. Three shifts will define the landscape:
-
- Intelligent automation will become the new standard.
- Issuers will expect AI-powered tools that accelerate onboarding, reduce compliance overhead, and personalize investor outreach. Platforms that eliminate manual steps and identify the rightinvestors—at scale—will have a significant advantage.
- Compliance-first technology will differentiate trusted platforms.
- As regulatory expectations tighten, issuers will gravitate toward partners that pair long-standing broker-dealer oversight with modern automation. Transparency, auditability, and reliability willmatter more than ever.
- Investor networks will become more curated and more valuable.
- Founders increasingly understand that raising capital online is not just about hosting an offering —it’s about ensuring the right investors actually discover it. Technology-driven investor networking and targeted introductions will be essential.
- Intelligent automation will become the new standard.
These trends are precisely why we built Dalmore Portal: to provide a next-generation capital-raising platform that brings together automated onboarding, compliant workflows, investor lifecycle management, and intelligent investor networking.
For issuers, the message is clear: 2026 will reward companies that adopt modern infrastructure early and partner with teams who combine regulatory experience with cutting-edge technology.
Any founder planning a raise should start exploring.