This week had lots of pieces of small and interesting new developments. Let’s dive right in. Again in order of what we find most interesting, rather than alphabetical.
New Options For Art Investing?
The Wall Street Journal reported today that a company called Artex is planning to IPO a painting from Francis Bacon on a special, public “art stock exchange”. The Journal also reported that this is just the first of many planned offerings from the company. They are reportedly planning to launch as much as $1B worth of art for investment. Shares are expected to start at $100 and be available to retail investors.
Doorvest / Arrived Homes
This week Arrived debuted three new residential property offerings. The Foster, one of those three, is a bit unique. It’s the first offering in partnership with Doorvest.
The Cincinnati 4 bedroom was sourced and renovated by Doorvest and listed as a fractional offering on Arrived.
For Doorvest, the partnership provides them with another potential buyer for every property. It also gives their investors the ability to make fractional investments through a company (Arrived) that specializes in exactly that. It’s also a vote of confidence in the quality of properties they can source, as well as some extra publicity and brand awareness.
For Arrived, it potentially gives them a trusted partner that could make sourcing more efficient for them. It will be interesting to see if this potential efficiency could lead to more listings or reduced fees on the Doorvest offerings. Or maybe it will just help Arrived on the path to profitability.
We’re definitely going to be keeping an eye on this partnership and what continues comes from it over time.
The company behind Alto IRA is getting more involved in providing investment opportunities to their customers. In an email, they announced accredited and qualified customers would have an exclusive opportunity to invest in a private equity fund. The fund is “…led by a team with a proven track record…” per the company.
In a series of tweets, Alt announced and explained their new counteroffers feature. It effectively allows buyers to make an offer to acquire fixed-price assets below their listed price. This should help to speed up sales of the trading card investments offered through the platform.
In a press release, the team at Republic announced they had put some capital to work. They acquired a roughly 9.5% stake in a company called INX for $5.25M. This investment is also the start of a collaborative partnership to “…expand the breadth and depth of tokenization infrastructure and access to digital assets…”
We previously mentioned that WebStreet was teasing that you would be able to make an investment into the company soon. Well, that time has arrived. Here’s a direct link to where you can invest and some supporting information about the company. Be ready to break out the piggy bank though – the minimum investment is an eye-watering $60K.
Here’s Wefunder campaign is set to wrap up at the end of June 29th. If you want to invest in the company, you’ll need to act promptly. It looks like the company will be pulling in just over $2M from the funding round.
If anyone is interested in the company’s business, you can still view their Form C, even if you don’t want to invest in their equity crowdfunding campaign.
Despite still not quite selling out all shares, Here has been moving forward with the Whitefin property and it looks poised to start accepting guest bookings soon.