Fundnel, renamed as Alta, launches its brand in Malaysia

• Acquisition enables it to support tokenisation of alternative assets 
• End-to-end solution makes it cheaper, faster to trade private securities

Alta, previously known as Fundnel, has announced the official launch of its brand in Malaysia, following the acquisition of the leading private digital securities exchange, Hg Exchange (HGX).

In a statement, the firm said the acquisition as well as its official launch in Malaysia will enable it to support the tokenisation of alternative assets.

This includes creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate, and luxury assets, it added.

Additionally, with the official launch in Malaysia, Alta said it has enhanced its service offerings to its previous and potential issuers in addition to its existing offerings. 

This will significantly enhance its service offering by bringing three core parts of its business under one roof, it added. 

The services include private market investment, trading of security tokens and direct access to funds managed by Alta.

This deal will also see HGX become a wholly-owned subsidiary of Alta, the firm said.

Among Alta’s shareholders are other leading financial institutions, including Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners.

According to the firm, this acquisition comes hot on the heels of its recent rebrand and supports its vision of ‘alternative assets for all’. This includes creating a marketplace that gives everyone access to alternative asset investments, it said. 

Willie Chang (pic), chief executive officer of Alta Exchange, said the introduction of Alta in Malaysia along with the acquisition of Hg Exchange will serve as a new chapter for the company in connecting its issuers and investors with new opportunities through its offerings.

“We want to continue revolutionising the private markets, bringing more opportunities to more investors to invest in new opportunities.

‘We are particularly excited about the opportunity in Malaysia, a key market in our vision of becoming the leading alternative assets platform,” said Chang.

To date, Alta claimed it has facilitated more than 600 transactions for opportunities like SpaceX, Grab, Gojek, rare whiskeys, and other alternative assets. 

The firm claimed it has generated over US$600 million (RM2.6 billion) in transactions and created access to over US$22 billion (RM98.5 billion) worth of mandated deals for its global investor community.

In Malaysia, Alta has successfully funded notable firms like CapBay, Eatcosys, Fish Club, and the first-ever micro-VC fund with Emissary Capital.

Following the acquisition, Hg Exchange will be renamed Alta Exchange and will continue to be led by CEO Willie Chang and the existing Hg Exchange team, which will be merging and augmenting Alta’s team, the company said.