SoFi (NASDAQ: SOFI), a firm focused on digital financial services that helps members borrow, save, spend, invest and protect their money, announced access to new private market funds via a relationship with Templum, which operates Templum One, a platform for transacting in private alternatives: The Cosmos Fund (with sole exposure to SpaceX) along with two additional private equity funds Pomona Investment Fund, and StepStone Private Markets Fund.
In a survey of five thousand retail investors, SoFi found that more than 87% of investors have an interest in “investing in privately held companies.”
And when asked to review a list of the top 10 most valuable privately held companies, Open AI, SpaceX, and Epic Games ranked as the “top three, validating an increasing interest across a broad investor audience.”
Anthony Noto, CEO of SoFi said:
“Historically, the retail investor community has had few opportunities to invest in privately held companies, but we firmly believe in broadening access to potentially valuable opportunities. Today marks yet another milestone on our path to helping SoFi members achieve financial independence by giving them an opportunity to invest in some of today’s most sought after privately held companies.”
Chris Pallotta, CEO and Founder of Templum said:
“These private alternative asset offerings represent an exciting step in our partnership with SoFi, enabling their members to access a broader range of investment strategies. Templum’s technology, compliance-focused framework, and deep expertise in alternatives enable us to bring some of the most sought-after private investments to a new generation of investors.”
Today’s update marks the latest innovation SoFi has taken to empower its members with “expanded access to diverse investment opportunities,” including: its early 2024 launch of alternative funds on the SoFi Invest platform, a new SoFi Robo Investing offering – announced last month – and now, an “expanded selection of alternative funds.”
At this time, these investments are “limited to accredited investors.”
As covered, SoFi is a member-centric, one-stop shop for digital financial services on a mission to help people “achieve financial independence to realize their ambitions.”
The company’s full suite of financial products and services helps SoFi members borrow, save, spend, invest, and protect their money better by giving them fast “access to the tools they need to get their money right, all in one app.”
SoFi equips members with the resources they “need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.”
SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the end-to-end “vertically integrated financial technology stack.”
SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve.