Key Takeaways
- • RealBlocks closed a $10 million Series A extension, bringing total Series A funding to $20.7 million, with the round oversubscribed and co-led by Crosslink Capital and new investor Left Lane Capital.
- • The alternative investment platform now administers more than $77 billion in assets, with anchor client LaSalle Investment Management utilizing RealBlocks across its entire $77 billion business.
- • RealBlocks expanded its product suite in 2023 with a special purpose vehicle (SPV) offering and Queue Protection—a liquidity relief solution for private funds facing redemption pressures and gating constraints.
- • The platform serves wealth managers, RIAs, and institutional alternative investment managers across real estate, private equity, infrastructure, and debt asset classes with end-to-end digital onboarding and secondary trading capabilities.
- • Funding demonstrates investor confidence in the fintech infrastructure space despite macroeconomic uncertainty driving more cautious capital deployment among institutional investors.
Summary
RealBlocks, a technology platform focused on streamlining alternative investment management, announced a $10 million extension of its Series A financing round on June 15, 2023. The extension brings cumulative Series A capital to $20.7 million and was oversubscribed, reflecting strong investor demand despite prevailing economic headwinds. Crosslink Capital, a Menlo Park-based venture investor specializing in B2B, fintech, and SaaS companies, co-led the round alongside Left Lane Capital, a new investor in the company.
The New York-based platform, launched in 2019, has established itself as a critical infrastructure provider for alternative asset managers and wealth professionals. RealBlocks now administers more than $77 billion in assets under administration, with institutional adoption evidenced by integration across LaSalle Investment Management's entire $77 billion business. The platform's core technology handles the complete lifecycle of alternative fund management—from investor onboarding through fund administration—while also facilitating secondary market trading.
The capital infusion will enable RealBlocks to continue scaling its technology infrastructure and expand its product offerings. Notably, the company launched two significant products during 2023: a special purpose vehicle (SPV) offering and Queue Protection, a solution designed to address acute liquidity challenges faced by private funds that have imposed redemption gates or reached capacity limits. These offerings respond to mounting redemption pressures affecting the alternative investment industry amid broader market volatility and investor caution.
The platform serves a diversified customer base including registered investment advisors, wealth management firms, and prominent real estate and private equity managers. RealBlocks' positioning in the alternative asset management software market reflects the industry's ongoing digital transformation, with institutional investors increasingly demanding streamlined, transparent, and technologically sophisticated fund administration solutions.
The New York-based platform, launched in 2019, has established itself as a critical infrastructure provider for alternative asset managers and wealth professionals. RealBlocks now administers more than $77 billion in assets under administration, with institutional adoption evidenced by integration across LaSalle Investment Management's entire $77 billion business. The platform's core technology handles the complete lifecycle of alternative fund management—from investor onboarding through fund administration—while also facilitating secondary market trading.
The capital infusion will enable RealBlocks to continue scaling its technology infrastructure and expand its product offerings. Notably, the company launched two significant products during 2023: a special purpose vehicle (SPV) offering and Queue Protection, a solution designed to address acute liquidity challenges faced by private funds that have imposed redemption gates or reached capacity limits. These offerings respond to mounting redemption pressures affecting the alternative investment industry amid broader market volatility and investor caution.
The platform serves a diversified customer base including registered investment advisors, wealth management firms, and prominent real estate and private equity managers. RealBlocks' positioning in the alternative asset management software market reflects the industry's ongoing digital transformation, with institutional investors increasingly demanding streamlined, transparent, and technologically sophisticated fund administration solutions.
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