CPE News Brief (9.20.2022) – Opto Investments, Inc. has emerged from stealth with US $145 million in Series A financing. The company has been operating in stealth as “Lonsdale Investment Technologies, Inc.” (LIT).
Tiger Global led the Series A round with participation from 8VC, Michael Dell’s MSD Capital, Clocktower Ventures, Fin Capital, HOF Capital, and others.
New York City based Opto Investments is a provider of technology-enabled solution for private market access for independent investment advisors. Opto has already partnered with over 80 RIAs and will use the capital to secure investment opportunities for its customers, continue to scale its business, and add to its 45-member team.
Opto is led by co-founder & CEO Mark Machin, formerly President & CEO of CPP Investments, with co-founder Joe Lonsdale serving as Chairman. Opto other founders include Jacob Miller, Patrick Weiss, Matt Reed, Kamal Jafarnia.
photo credit: Opto Investments
Opto Investments Emerges from Stealth with $145M in Series A Funding to Unlock Access to Private Markets for Investment Advisors and their Clients
Technology-enabled platform connects investment advisors to highly sought-after private funds
Dr. Mark Machin, the former CEO of CPP Investments, to lead the company as Co-Founder and CEO, bringing global investment management experience
September 20, 2022 08:00 AM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Opto Investments (“Opto”), the technology-enabled solution for private market access for independent investment advisors, announced today that it has emerged from stealth with $145 million in Series A financing. Opto is led by Co-Founder and CEO Mark Machin, with Co-Founder Joe Lonsdale serving as Chairman. The company operated in stealth as ‘LIT.’
Tiger Global led the Series A round with participation from 8VC, Michael Dell’s MSD Capital, Clocktower Ventures, FinVC, HOF Capital, and others. Opto has already partnered with over 80 RIAs and will use the capital to secure investment opportunities for its customers, continue to scale its business, and add to its 45-member team.
Providing Private Market Access to Investment Advisors and their Clients
“The world is staring down daunting challenges in this decade and beyond. Our experience in Silicon Valley and the United States innovation ecosystem is that well-funded entrepreneurs can solve these problems and create prosperity,” said Chairman Joe Lonsdale, who is also the Managing Partner at 8VC. “I co-founded Opto with top talent from the technology and financial world to open up private markets to top investment advisors and their global clients like never before—and unlock new capital for the world’s greatest innovators building for the future.”
Despite the growing role of alternatives in powering the innovation economy, the vast majority of savings worldwide have little to no access to alternative assets and the average wealth advisor has 0-4% of their portfolio in private investments, often due to a lack of resources and efficient access. Private markets remain an untapped and growing opportunity, representing less than 10% of the overall size of public markets.
Opto has created a platform to help RIAs level up their practices with access to exclusive private market investments. Opto provides an intuitive framework to explore the private market landscape, incorporate client goals and interests, understand how well-regarded family offices operate, and turn insights into actionable investments.
Co-Founder and CEO Mark Machin said, “At CPP Investments, one of the largest global asset owners, I was privileged to be able to access the best private investment opportunities in the world. These top private investment opportunities are rarely made available to individual investors; Opto’s mission is to change that. Our vision at Opto is to use technology and innovation to break down barriers and give privileged access to our investment advisors and their clients. I’m excited to be on this mission with my talented colleagues.”
Opto simplifies investment operations and integrates with existing vendors and technology. The platform manages the process from start to finish: from sourcing, diligence, and subscribing to funds; to monitoring positions, capital call schedules, investor servicing and reporting. This allows investment advisors more time to focus on client outcomes and revenue growth.
Veteran Leadership Team
Opto is helmed by a veteran leadership team with strong networks across the alternative investment industry.
Co-Founder and CEO of Opto, Mark Machin was most recently President & CEO of CPP Investments, which manages over C$500 billion and is one of the leading private market investors in the world. Mark is also a member of the Government of Singapore Investment Corporation (GIC)’s International Advisory Board, Singapore’s Sovereign Wealth Fund, and an advisor to its Portfolio Strategies Committee. He was also the Chair of FCLT Global, a think-tank founded to encourage the capital markets to focus on long-horizon capital deployment.
Joe Lonsdale, Opto’s Chairman, is the Managing Partner at 8VC and the founder of companies such as Palantir, OpenGov, and Addepar. Lonsdale served as CEO of Addepar, which now has over $4 trillion reporting through its wealth management technology platform, and he remains the Chairman of that company.
The rest of the Opto leadership team includes industry veterans from Addepar, Artivest, BlackRock, Bridgewater, CAIS, FS Investments, PIMCO, and W.P. Carey.
About Opto Investments
Opto Investments provides independent investment advisors with a total solution for accessing private market investments. Opto Investments’ platform connects investment advisors to top-performing managers and a full suite of alternative asset tools to help attract clients, boost revenue, and ensure that their clients are able to access the best possible private investment opportunities.
For additional information, please visit the Opto Investments website and LinkedIn.
8VC is a leading technology and life sciences investment firm based in Austin, Texas, with offices in San Francisco and New York. 8VC partners with the world’s best technologists to build companies that create long-lasting value for the world.
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