Singapore-based Hg Exchange has been acquired by Southeast Asian alternatives marketplace Alta, marking yet another development for the digital asset industry.
Alta has acquired Hg Exchange (HGX), according to an announcement, without disclosing any specific figures from the deal. This will make Hg Exchange a wholly-owned subsidiary of Alta, which will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders.
HGX was founded in 2019 and offers a wide range of digital and non-digital capital market solutions ranging from private equity and real estate to more exotic assets such as whiskey-backed securities.
Rebranded from Fundnel
Alta, formerly known as Fundnel, recently launched a brand refresh as part of its broader strategy to offer «alternative assets for all» via a marketplace with broad access for investors.
Since 2016, the Singapore-headquartered firm has completed over 1,000 transactions valued at more than $600 million involving opportunities related to SpaceX, Grab, Gojek, rare whiskeys and other alternative assets.
«Our goal is to connect promising new opportunities with capital,» said Alta co-founder and CEO Kelvin Lee. «Today, by standardizing processes around our tokenized listings, we make investing in alternatives cost-effective and transparent for investors.»
