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Masterworks.io
Masterworks.io
NEW YORK, Oct. 05, 2021 (GLOBE NEWSWIRE) — Masterworks.io, the first investment platform to securitize blue-chip art, has secured $110 million Series A investment at a valuation in excess of $1 billion. The round was led by NYC-based venture fund, Left Lane Capital, with participation from strategic investors including Galaxy Interactive (a division of Galaxy Digital), Tru Arrow Partners, and others.
Masterworks is a members-only platform where investors can buy and sell shares in iconic works of art, by artists such as Basquiat, Banksy, Picasso, and more.
Art is estimated to be a $1.7tn asset class, and contemporary art has appreciated 14.0% from 1995-2020, outperforming the appreciation rate of most other asset classes including the S&P 500, real estate, and gold. For centuries, this asset class has only been available to the ultra-wealthy who can afford multi-million-dollar paintings. Masterworks’ vision is for any investor to be able to allocate to art, just as they do with stocks and bonds.
The company, founded by serial entrepreneur Scott Lynn, plans to use the capital to accelerate growth into all types of distribution, including financial advisors, wirehouses, and institutions.
“We are thrilled to complete our Series A with such a high-quality group of investors, including our lead investor, Left Lane Capital. Left Lane understood our market, business model mechanics and drivers in a more nuanced way than anyone else,” mentioned Lynn.
“Art is among the largest asset classes remaining that has never been securitized. There are more than 9,000 firms that help investors allocate to venture and private equity, but none other than Masterworks that facilitates fractional investment in art.”
“Despite our strong traction, Masterworks is still in the very early innings of building out a seminal company seeking to provide outperforming and non-correlated art investment products to all types of investors.”
Masterworks is headquartered in New York City with over 100 employees; the company has been bootstrapped to date, and is currently profitable.
Left Lane Founder and Managing Partner, Harley Miller, noted that “while many of our peers in the venture community have deployed capital into other alternative investment spaces — ranging from sports memorabilia, Pokemon cards, vintage sneakers and the like — we were keen to pursue an investment into a company playing in an asset class that was fundamentally much larger, more unique, and with proven appreciation rates over decades. Masterworks is democratizing an asset class that is an order of magnitude larger than all of the aforementioned combined, and has a meaningful head start building a framework that can potentially raise billions of dollars a year in capital.”
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