A former Barclays banker has launched an online platform which aims to ‘democratise access to alternative investment funds’.
AtomInvest has been set up to provide its users access to what it calls ‘pre-vetted investment opportunities’ through a free account. Once clients are registered they can browse through featured investments and pledge their interest in underlying funds.
After gaining regulatory approval in December 2017, AtomInvest has had its soft launch, attracting 1200 clients including high net worth individuals and family offices.
The platform gives access to private equity, real estate, venture capital, private debt and hedge funds from a minimum investment of $100,000 (£72,000).
The company was launched by CEO Hemal Mehta, formerly an M&A investment banker at Barclays Capital, and COO Mark Evans.
On its website, the company says: ‘Currently, the exclusive world of high return alternative investment funds is only open to large institutions and the ultra-wealthy. AtomInvest was founded to level the playing field and to allow individual investors to access these exclusive investments’.
The company has four investment statuses on the platform; live offering, overfunding, closing and completed. Once investments are selected and funded, customers receive periodic updates on the performance through their dashboard.
It charges a 1% annual fee.
Mehta told Wealth Manager that in the future he will look to open it up to a wider client base, but highlighted that it will require further product development. There are currently five people based in London, and he is looking to hire more.
Mehta said: 'We are building Europe's first platform for high quality alternatives. We want to enable people to invest into private equity funds that they cannot access for a number of reasons. It's an asset class that offers a lot of benefits to investors and we think the timing is quite opportune.'
It also allows fund managers to raise funds through the platform targeting institutional investors, as well as private high net worth individuals. The company can arrange funding from $500,000 to $50 million.