Alt Announces Second Fund Anchored by Steph Curry Logoman
Photo by Juan Ocampo/NBAE via Getty Images. Pictured: Steph Curry
Alt, an alternative asset platform that allows users to see a real-time valuation of their trading card portfolio as well as buy and trade them, announced Tuesday morning that it was raising a second fund for its users to invest with them.
Alt Fund II will be anchored by what has become the most valuable modern day card, the 2009 Steph Curry National Treasures 1/1 Rookie Logoman, which Alt says it purchased 51 percent of at a valuation of $5.9 million.
“Steph is a generational player,” said Alt CEO Leore Avidar, an avid collector himself, in a release. “Our data shows that Steph’s cards have increased 35 percent year to date — compare that to the S&P and you can see the outsized return potential.”
The company’s Alt Fund is bolstered by the fund’s purchase of the 2003 Exquisite LeBron James Rookie Auto patch in a BGS 9.5. The fund bought that card in entirety for $1.8 million. That fund is up 71 percent since its inception, when the clock started in the fourth quarter of 2020, which is impressive against the headwinds that have come after the boom.
The fund is for accredited investors only, meaning that users have to express their interest and Alt gets to choose who is in and who is out. The company has not disclosed the fund size.
Alt has more than 10,000 cards, worth more than $50 million, stored in its vault. The company also offers to lend against the value of a collector’s collection.