Linqto, a digital platform that enables accredited investors to invest in leading unicorns and private tech companies, is to list on the Nasdaq through a merger with a special interest acquisition company.
The deal with Blockchain Coinvestors Acquisition Corp., which is listed under the ticker BCSA, values Linqto at approximately $700 million, and the SPAC will merge with and into Linqto upon closing with the merged entity operating under the Linqto name. Existing Linqto shareholders will receive common shares in BCSA.
BCSA is currently domiciled in the Cayman Islands but will switch jurisdiction to Delaware once the transaction closes, which is expected to be in the last quarter of 2024. Both firms’ boards of directors have approved the deal, but it will require shareholder approval along with other customary closing conditions identified in the business combination agreement that both parties have signed.
Linqto enables investors to participate in private venture investments, which were once the exclusive domain of institutions and privileged, ultra-wealthy people via its intuitive technology platform.
"This merger represents a significant milestone in Linqto's journey towards growth and innovation in the private investing space," said Joe Endoso, CEO of Linqto. "We are excited about the opportunities it brings to further enhance our platform and provide even greater value to our investors. Our focus remains steadfast on driving growth and expanding opportunities in the private markets."
Endoso has previously expressed interest in the idea of financial advisors being the gatekeepers for investors wanting to invest in the private markets.
Investment advice “provides a level of financial literacy and sophistication,” he told InvestmentNews in 2023. The advisor also can assess whether the investor’s risk profile is a good fit for a private investment. “I love the idea of a financial advisor stepping in and helping them,” Endoso added.
The regulator is scrutinizing how some firms oversee concentrated positions in complex "worst-of" notes – and wants answers.
Meanwhile, Carson Group fully integrates a decades-old practice in Phoenix, Arizona, and Triad Wealth touts its 5x growth to hit a $2 billion milestone.
Matt Gellene shares the bank’s latest research on how young adults are managing their finances.
Survey data reveal a widening divide between early AI adopters and those still on the sidelines – with career stage and AUM emerging as key fault lines.
Sitting between equity and insurance-like solutions, defined-outcome ETF strategies have matured as an alternative to staying in cash during choppy markets.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
