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Alternative Assets  + Blockchain  + Crypto  + Real Assets  | 
Hamilton Lane, Apollo Launch Investment Vehicles on Blockchain with Figure

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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Inside The Story

FigureHamilton LaneProvenance

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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