California startup Pontoro aims to use blockchain to securitize private infrastructure loans provided by banks. The company plans to launch in late 2022 after raising a $6 million preferred seed funding led by Ulu Ventures, with participation from Franklin Templeton, Neva Sgr, the venture capital fund of Banca Intesa Sanpaolo, Bloccelerate, and others. Banca Intesa Sanpaolo is a major infrastructure lender.
Using blockchain to tokenize assets is seen as a way to bring alternative asset classes to new groups of investors. However, rather than targeting retail investors, Pontoro plans to enable access for institutional and accredited investors such as high net worth individuals (HNWI).
The startup’s CEO, Antonio Vitti, sees tokenization as a route to tap into these accredited investors, which is a key driver behind its use of blockchain. The HNWI group is the biggest investor class by far. Total HNWI assets under management are slightly less than the combined assets of pension funds, insurance companies and sovereign wealth funds.
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