Verivend is acquired by iAltA

To our valued Customers:

I am excited to share an important milestone in our journey with you: Verivend has been acquired by iAltA, a leading integration platform to help GPs manage their fund lifecycle and effectively serve their LPs with better technology and transparency.

iAltA was incubated out of WestCap, an operating and investing firm with over $6 billion in Assets Under Management (AUM). This strategic acquisition combines Verivend’s expertise in private capital transactions with iAltA’s broader mission and operational expertise in the industry.  Together, we are creating a more scalable, integrated platform that will transform  how private market participants operate.

Verivend is Acquired by iAltA

Why Now?

As you already know, Verivend remains the only payments platform built specifically to enable GPs and LPs to seamlessly and securely move funds. As we continued to expand our customer base and product offerings, we recognized an opportunity to further accelerate our impact by partnering with a seasoned private market operator. iAltA brings industry knowledge and reach, and together we share the vision of delivering an even more comprehensive, end-to-end solution for GPs and LPs. 

iAltA was founded by Laurence Tosi (L.T.), Scott Ganeles, and Bill Sherman, experts in capital markets, financial technology, and private markets. L.T. is the Founder and CEO of WestCap, with investments in fintech leaders such as Addepar and iCapital. Scott previously served as CEO of Ipreo, a global provider of financial services technology, data, and analytics, which was later acquired by IHS Markit. He also held the role of Senior Partner at WestCap, where he contributed to the firm’s expansion in private markets. Bill was EVP and Head of Data Strategy at Ipreo before serving as President of Expert Institute.

Collectively, the three co-founders bring over three decades of experience in building capital markets consortiums, managing corporate carve outs, and investing in private markets. iAltA is on a mission to transform private capital markets through modern infrastructure – beginning with an end-to-end platform that streamlines fund management and integrates marketing, investor onboarding, payments, fund reporting & analytics.

Jonathan Ebel and I look forward to joining the iAltA Executive Team and working closely with L.T., Scott, and Bill to drive the future growth of Verivend and iAltA together in this next chapter.

What This Means for You

No Disruptions: Verivend’s acquisition will not impact our existing partnership with you. 

More Value: The combined expertise of our teams will bring new capabilities, efficiencies, and solutions to support your firm. 

More Solutions: We’ll add new products, ship new features, and evolve and improve the platform faster to better meet and exceed your needs. 

More Partnerships: Product integrations and strategic partnerships with industry stakeholders will bring you more services and value through our platform. 

Looking Ahead 

We look forward to sharing more details about how this benefits your firm and the industry. In the meantime, please don’t hesitate to reach out directly to me with any questions. 

Thank you for your continued trust in Verivend. I’m excited for this next chapter of growth and we remain committed to delivering the best solutions for you and your LPs.

Read more about Verivend’s acquisition by iAltA and the next chapter of our growth in: Business Wire Bloomberg Pulse 2.0

Best Regards,

Rodney Reisdorf Co-Founder & CEO