Investment technology company Alto has secured its second round of funding this year, closing a $5.4 million raise led by the family office of a top Blackstone executive as well as a Silicon Valley venture capital firm.
Leading this latest investment is Jefferson River Capital, which represents Blackstone Executive Vice Chairman Tony James and Moment Ventures. Word of their funding and that of fellow investors Foundation Capital, Sequoia’s Scout Fund and Amplify.LA. comes less than six months after Alto co-founder Eric Satz and his team raised $2.8 million from an angel investor group.
“Tony and I have been impressed with Alto’s mission to empower individuals to rethink the way they invest for retirement and the progress they’ve made to date,” said David Wittels, president of Jefferson River Capital. “We are excited to help them grow even faster and make investing in alternative assets via Alto easy and accessible for anyone with a retirement savings account.”