FinTech Startup Opens Private Market Access to Wealth Management Space

A FinTech startup in the U.K. is opening private market investment access to the wealth management industry by offering a digital marketplace that managers can tap for their clients.

Private Markets Alpha (PM Alpha) is a digital marketplace for asset managers, wealth managers, and advisers to access private markets investments, including asset classes such as alternative credit, venture capital, growth capital, private equity, real assets, and co-investments, according to a press release emailed to PYMNTS on Wednesday (Aug. 31).

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Gaining access to private markets is typically limited by high entry costs or with scenarios better suited to larger institutional investors.

“We aim to revolutionize private markets investments because we firmly believe that broad access to these markets is crucial for providing a wider range of asset classes to better serve the long-term needs of individual investors,” said Tom Douie, CEO and co-founder.

“We believe that in the current economic climate wealth managers need to have a larger toolkit to provide better long-term solutions to their clients and that’s what we aim to help them achieve,” Douie added.

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The startup is striving to offer a one-stop-shop solution where clients can get timely access to the right products while wealth managers reduce fees, paperwork and investment minimums.

Headquartered in London, England, PM Alpha was co-founded in January by Douie, Chloe Mercer, chief platform officer and head of investment operations, and Alexis Weber, chief investment officer. The startup has so far raised close to £1 million through private fundraising.