Pluto Financial Technologies, a New York-based startup, has launched an AI-driven lending platform for private markets, backed by $8.6 million in seed funding from investors including Motive Ventures and Apollo Global Management. The platform allows investors to borrow against their illiquid private market assets, offering liquidity without needing to sell. CEO Neel Ganu highlights that traditional private market investments can be anxiety-inducing due to callable capital. Unlike bespoke lending options for ultra-high-net-worth individuals, Pluto aims to simplify and automate the borrowing process, similar to margin lending for public securities. Its flagship product, the Wealth Equity Line of Credit, offers competitive rates and repayment through future fund distributions, avoiding tax implications typically associated with selling positions. By partnering with alternative platforms like Allocate and Moonfare, Pluto enables users to access loans easily, with amounts ranging from 20% to 35% of NAV, and terms starting at SOFR plus 350 basis points.
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