NEW YORK, June 16, 2021 - Templum, Inc. ("Templum"), a provider of next-generation capital markets infrastructure for alternatives and private securities, announced it has closed a strategic financing round led by WestCap. The partnership enables Templum to expand on marketplace services for its growing list of global clientele and enhance liquidity for institutional and retail investors across the ecosystem. Templum and its wholly owned broker dealer subsidiary, Templum Markets LLC, deliver transparency and liquidity to investors and marketplaces with its frictionless, end-to-end white-label trading technology products, using its proprietary Alternative Trading System ("ATS") and brokerage solutions.
"The most recent investment from WestCap advances Templum's strategy to transform the alternative asset sector," said Templum CEO Christopher Pallotta. "Our innovative modular infrastructure powers marketplaces by offering fractionalized investing in alternative assets such as private equity, limited partnerships, real estate, collectibles, art, commodities, and debt products. We're seeing increasing appetite from investors for alternative assets and have experienced that first hand with our clients. The partnership with WestCap accelerates distribution and adoption of alternative assets with Templum as the underlying infrastructure."
The investment was led by Laurence Tosi, WestCap's founder and former CFO of Airbnb and Blackstone, and by Scott Ganeles, senior partner at WestCap, who will now join Templum's Board of Directors. As longtime partners, Tosi and Ganeles also co-founded iPreo, a leading capital markets fintech company acquired by IHS Markit. WestCap has been actively monitoring the alternative asset industry as investor allocation to alternatives has grown throughout shifting economic trends over the past year. Per research firm Preqin, the alternatives asset industry is projected to increase to $17.14 trillion AUM by 2025 as alternatives are expected to continue to outperform public markets and bring significant diversification benefits to an overall portfolio strategy.
"We're excited to partner with Templum as their proven technology and efficient marketplace removes the complexity in the alternative asset industry for capital markets participants," said Scott Ganeles. "Templum's streamlined solution is key to driving liquidity and transparency for alternative assets. Our investment in Templum expands access to the industry and positions WestCap, Templum, and their clients to capitalize on a space that is growing exponentially."
For more information, please visit templuminc.com.
Templum Markets LLC. is a New York-based broker-dealer and Alternative Trading System (ATS) approved to trade unregistered private securities in 53 U.S. States and Territories, and is a wholly-owned subsidiary of Templum, Inc., a trading technology company. Templum is paving the way for investors to participate in new asset classes through integrated market technologies and APIs for primary issuance and secondary trading. Templum's combined solution provides liquidity and distribution in private markets by enabling a continuous trading experience for investors, rather than the manual processes currently in place. In doing so, Templum delivers custom trading solutions to power marketplaces. For more information, please visit www.templuminc.com.
About WestCap Group
WestCap Group is a growth equity firm founded by Laurence A. Tosi, who, together with the WestCap Group team, has founded, capitalized, and operated tech-enabled, asset-light marketplaces for over 20 years. With over $2 billion of assets under management, WestCap Group has made notable investments in technology businesses such as Airbnb, StubHub, iPreo, Skillz, Sonder, Addepar, Hopper, iCapital and Bolt. To learn more about WestCap Group, please visit WestCap.com.