BlockchainPress Release

Southeast Asia’s Largest Marketplace for Alternative Assets Acquires Hg Exchange

Alta, previously known as Fundnel, has announced the acquisition of the leading private digital securities exchange, Hg Exchange (HGX).


The acquisition will enable Alta to support the tokenization and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate, and luxury assets.


The deal will see HGX become a wholly-owned subsidiary of Alta. Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.


The acquisition comes hot on the heels of Alta’s recent rebrand from Fundnel and supports the firm’s vision and mission of ‘alternative assets for all’ – creating a marketplace that gives everyone access to alternative asset investments.


The deal will significantly enhance Alta’s service offering by bringing three core parts of its business under one roof – private market investment, trading of tokenized asset- backed securities, and direct access to funds managed by Alta.


Kelvin Lee, CEO and Co-Founder of Alta, said: “Our acquisition of Hg Exchange marks a new chapter in our journey to revolutionize private markets with a blockchain-powered digital exchange, bringing enhanced access and liquidity to alternative investments for all investors.”


“Our goal is to connect promising new opportunities with capital. Today, by standardizing processes around our tokenized listings, we make investing in alternative cost-effective and transparent for investors.”

To date, Alta has facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets. It has generated over US$600 million in transactions and created access to over US$22 billion worth of mandated deals for its global investor community.
Mr Hajime Ikeda, Head of Digital Company at Nomura Holdings, said:


“With the new brand launch and acquisition of Hg Exchange, Alta is affirming its leadership in private markets and continues to pave the way for broader acceptance of tokenized, asset-backed securities.”

HGX is a leading private digital securities exchange in Southeast Asia, recognized for enabling institutions to better serve their investors by supporting secure and efficient trading of alternative assets. Its innovative digital infrastructure is powered by advanced blockchain technology and uses proven exchange solutions.

Following the acquisition, Hg Exchange will be renamed Alta Exchange and will continue to be led by CEO Willie Chang and the existing Hg Exchange team, which will be merging and augmenting Alta’s team.


Mr Lawrence Wong, Chairman of Alta Exchange, said, “The combination of Alta and Hg Exchange further strengthens our position as a leader in the alternative asset space. As a key and strategic business within the combined group, Alta Exchange is better positioned to attract new listings and member brokers.”

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