Alta Alternative Investments (Alta), Southeast Asia’s leading digital securities exchange for alternative assets, has partnered with US-based investment adviser Scenic Management LLC (Scenic) to launch the Scenic Private Access (SPA) Fund on its platform, enabling access to direct venture secondaries to its global investor community.
Through the SPA fund, Alta will provide direct access to late stage, VC-backed companies that have proven technology and commercially successful products. Later-stage companies typically have reduced risk profiles as compared to early-stage venture capital opportunities. According to Scenic, the SPA fund has the potential to offer risk-reduced returns of 2-3x over the 4 year lifecycle of the fund
“The value of secondary transactions may triple over the next seven years, from $114 billion in 2023 to $417 billion in 2030. At Alta too we saw a year-on-year increase of over 300 per cent in order volume on our secondary platform. This partnership with Scenic adds to the vibrant secondaries opportunities on our platform, providing our ​​investor community with an exclusive and compelling option to invest in the booming secondaries space for wealth creation”, said Yifei Li, Managing Director, Head of Client Business, Alta.
Since emerging, Asia’s secondary market has matched global trends, comprising 5-10% of global volumes, akin to Asia’s representation in primary capital raised globally. In 2022, as aggregate exit values in Asia declined sharply, secondaries constituted 22% of total private equity exits in the region, indicating its rising significance for liquidity. According to consultancy firm EY, secondaries will become a popular exit choice in Southeast Asia for private equity (PE) firms in 2024, after an overall slowdown in the exit landscape last year.
Besides the Scenic Private Access Fund, TikTok’s parent company ByteDance, Epic Games, SpaceX and Revolut are some of the many high-profile private companies that have become easily accessible to investors through secondary deals.
Through secondaries, investors would be able to tap on significant tangible value increases by investing in a business that is in a later stage of maturity, where the business would have discovered how to reliably and sustainably generate revenue and profits.
Mark K Norbury, Managing Director and Head of Investor Relations and Co-invest at Scenic added, “Partnering with Alta marks a significant stride in our mission to create value for investors by exploring forward-thinking solutions. As we explore new horizons in private markets, we are excited about the prospects of expanding access to unique private market opportunities and allowing investors to invest in secondary opportunities in highly sought-after pre-IPO private companies. Alta’s proven track record and comprehensive approach to alternative assets complement our vision for a dynamic, interconnected marketplace. Together, we look forward to opening up new avenues for investors seeking new investment opportunities.”
In an era marked by evolving investor demands for liquidity and portfolio diversification, Alta provides diverse investment opportunities in private capital markets, including a wide range of alternative assets. Earlier in January, Alta launched a unique liquidity program for shareholders of Income Insurance Limited, a leading Singaporean insurer. This marked the largest listing of a non-public company on a private securities exchange, enabling institutional and accredited investors to trade and own shares of a non-publicly listed company.
About Alta
We’re Building the Future of Capital Markets
As Southeast Asia’s largest licensed digital securities exchange for alternative investments, we believe that access to capital markets are pivotal in all economies and recognize that our role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.
Empowering Private Markets: Through our Digital Exchange, we enable the tokenization and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets.
Innovative Financial Ecosystem: Our journey has seen us transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities (ABS) (representing Real World Assets (“RWA”) like whiskies, wines, art, watches, and real estate) to include fund management and digital custody services.
Established in 2016 and headquartered in Singapore, Alta operates offices globally and is the only integrated securities exchange, brokerage, and fund management group in Southeast Asia.
Visit us on https://alta.exchange/
About Scenic Management LLC
Scenic Management LLC is Scenic’s fund management business. Scenic was founded in 2013 and was built by a team with decades of experience and billions of dollars of transaction volume in pre-IPO equities of leading venture-backed companies. We apply a systematic, quantitative approach to private markets that leverages proprietary data. We specialize in short-duration vehicles and employ a disciplined investing approach that delivers value within growth. Our funds provide diversified exposure to highly performing businesses at exceptional valuations for sophisticated investors. Headquartered in San Francisco, Scenic serves companies, shareholders, and investors globally.
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PRecious Communications for Alta
alta@preciouscomms.com
