DayMark Closes $25M Opto-Backed Private Markets Fund
DayMark Wealth Partners has completed the $25 million final close of its inaugural private markets fund in partnership with Opto Investments, expanding access to alternative investments for affluent clients through a single diversified structure.
The Cincinnati-based registered investment advisor, which oversees more than $6 billion in assets, said DayMark Fund I is designed to provide accredited investors and qualified clients with equal exposure to private equity and venture capital, complemented by allocations to secondaries and direct investments.
The portfolio follows a barbell strategy, pairing established private equity managers with emerging venture capital firms focused on sectors including artificial intelligence, defense technology, biotechnology and enterprise software.
“Private markets have become an increasingly important allocation for the multigenerational families and business owners we serve, but building a program that is both highly selective and scalable requires deep sourcing, rigorous due diligence and strong operational support,” said Robert Prangley II, founding partner at DayMark Wealth Partners.
Among the fund’s venture investments are positions in Opto’s recently closed AI-focused venture fund, which includes exposure to companies such as xAI, now part of SpaceX, defense technology company Epirus, renewable energy startup Exowatt and generative AI platform Higgsfield. The portfolio also includes fund investments in Fusion Fund IV, Neo Fund IV and Zero Prime Ventures Fund II.
Opto supported the fund’s sourcing and due diligence efforts through its investment team and proprietary analytics platform, which incorporates AI-driven workflows. The fund also features a performance-based fee structure in which carried interest is earned only after investors achieve a specified multiple on invested capital.
“DayMark identified a need for a private markets program tailored to its client base,” said Nick Gerace, senior director at Opto Investments.
Founded in 2022, DayMark serves affluent families, executives and business owners through eight offices nationwide. Opto, founded by Joe Lonsdale and backed by investors including 8VC and Michael Dell’s DFO Management, provides technology and infrastructure that help wealth managers build and administer private investment vehicles.
Pictured: Robert Prangley II and Nick Gerace