WealthForge tops $500m in investments processed
Private placement platform for capital markets WealthForge is starting 2018 with the announcement that it has reached a new milestone: more than $500 million in investments processed on its platform, reports David Penn at Finovate (FinTech Futures’ sister company).
Mat Dellorso, WealthForge chief strategy officer and co-founder, says: “Our average offering size – currently $17 million – has grown 50% in the past year. More than $200 million was invested in 2017 alone.”
WealthForge reports that the $500+ million investments represent funding in more than 300 private offerings, each averaging $17 million. The company notes that the $500 million includes a $25 million litigation fund and a $9 million private capital fundraising for an industrial real estate acquisition. WealthForge also announced the platform hosted its first Regulation A (Reg A+) offering, which picked up more than 400 investors since its launch in October.
Headquartered in Richmond, Virginia and founded in 2009, the WealthForge Network connects issuers and intermediaries in the private capital market, enabling issuers to present their offerings to registered intermediaries and helping intermediaries provide a branded online investment process for their investors.
The company has raised more than $5 million in funding and counts New Richmond Ventures (NRV) and SenaHill Partners among its investors.