RealBlocks – a technology platform for alternative investments that provides an end-to-end digital investing process and secondary trading – announced a $10 million extension of its Series A financing, bringing the total investment amount to $20.7 million. This funding round was oversubscribed and co-led by Crosslink Capital, a prominent venture investor based in Menlo Park with a focus on B2B, fintech, and SaaS, and new investor Left Lane Capital.
The additional funding will enable RealBlocks to continue to scale its technology platform that provides capabilities such as onboarding and management of the entire lifecycle of alternative funds and their investors.
RealBlocks launched in 2019 with the goal of providing open access to alternative investments such as real estate, infrastructure, private equity, and debt while improving the investment experience for wealth managers, advisors, and investors. And the firm’s technology is now utilized by some of the most respected real estate, private equity, and alternative investment managers in the world, including LaSalle investment management which utilizes RealBlocks throughout its entire $77 billion business.
RealBlocks services more than $77 billion in assets under administration and its technology is now being used by RIAs and wealth management firms. And this year, the firm also launched a special purpose vehicle (SPV) offering and a product called Queue Protection in response to the growing demand for a solution to help relieve mounting liquidity pressure for private funds hitting redemption limits or being gated.
KEY QUOTES:
“We’re incredibly grateful for the engagement and support we have received from our investor base. This is a significant milestone that is indicative of our past accomplishments and our future success, especially now during a period of economic uncertainty that is leading investors to be more cautious. RealBlocks is uniquely positioned to fundamentally reshape the alternative investing experience for fund managers and their investors, and this funding will help advance our mission to make investing in private funds as easy as it is with public funds.”
— Perrin Quarshie, CEO of RealBlocks
“There is growing demand in-market for a digital-first offering to alleviate the friction that antiquated business processes cause within the investment fund ecosystem. With a highly robust product suite and an extremely dedicated team, we believe RealBlocks is well positioned to capitalize on this opportunity.”
— Harley Miller, CEO and Managing Partner at Left Lane Capital
