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Alternative Assets  + Blockchain  + Crypto  + Real Assets  |  December 13, 2022
Hamilton Lane, Apollo Launch Investment Vehicles on Blockchain with Figure
Joe Palmisano
By: Joe Palmisano

Hamilton Lane, Apollo Launch Investment Vehicles on Blockchain with Figure

Asset managers Apollo Global Management and Hamilton Lane are launching digitally native investment vehicles on the blockchain using technology developed by fintech company Figure.

The investment firms will use Figure’s Digital Fund Services (DFS) platform to support on-chain fund subscriptions, and ongoing fund operations and administration.

Investors will also benefit from DFS’s universal passporting feature, which enables an anonymized record of verified know-your-customer credentials to be stored on-chain and used across multiple funds.

Figure provides financial services through its own blockchain Provenance. Currently used by more than 50 financial institutions, fintechs and DeFi brands, Provenance has supported over $10bn in transactions.

It was founded by Mike Cagney, who previously founded the personal finance company Sofi.

Clients on Figure’s DFS platform will benefit from its alternative trading system for secondary transactions of blockchain-based fund interests.

The startup, last valued at $3.2 billion, announced a partnership with Apollo to collaborate on a series of blockchain-enabled initiatives in July 2021.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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