Strategy
Arta Finance Obtains Investment Boost, Plots International Growth
The US RIA, which has also pushed into the Singapore market, says it is using digital tech to change the way in which wealth management services and solutions are delivered.
Arta Finance, a
digital family office for US accredited Investors that recently
obtained a regulatory approval to launch in Singapore,
announced yesterday that it has achieved a “strategic” investment
from the Asian city-state.
EDBI, the investment arm of the Singapore Economic Development
Board (EDB) and a division under SG Growth Capital, has added to
the firm’s roster of backers, including Peak XV, Ribbit Capital,
and Coatue. Arta raised it first funding and entered public view
and came out of its “stealth” phase in 2022. Google’s former CEO
and chairman Eric Schmidt is among the investors.
Arta, which is jointly headquartered in the US and Singapore,
aims to use digital tools to provide a wider population with
wealth management services previously confined to a small slice
of the world’s population. Arta says it uses technology to open
access to alternative assets, and unlock liquidity through lines
of credit for eligible members. It also uses AI for investing in
public markets.
"We are incredibly grateful for the support from EDB, who have
been with us right from the start. Their guidance has been
instrumental in helping us bring Arta’s offering to life. We are
excited to welcome EDBI as an investor in Arta, further
solidifying our vision to scale our platform globally. Together,
we are committed to creating a wealth management platform that
sets new standards in the industry,” Caesar Sengupta, CEO of Arta
Finance, said. (Sengupta is based in Singapore.)
The firm is a registered investment advisor in the US. (See a
related
story from last year.) In October 2023, the organisation
said it was launching the following elements: private market
access; customised public market investments with AI; principal
protected growth; protected wealth, via insurance; tax and estate
planning services; tax loss harvesting; personal assistance
services; and connection services.
