Private market investing has exploded in recent years, but for most advisors, the experience still feels like juggling spreadsheets, PDFs, and endless emails. Allocate wants to change that. The San Francisco-based fintech just announced a $30.5 million Series B round, bringing its total funding to $64 million and its platform assets to over $2.5 billion.

The round was led by Portage Ventures with Andreessen Horowitz, M13, and Fika Ventures also participating—a strong show of support from both fintech specialists and marquee venture firms.

Cracking the Complexity of Private Markets

Private equity, venture capital, and private credit are increasingly critical to wealth creation. Yet despite $17 billion spent annually on infrastructure, only about 26% of the 17,000 U.S. wealth advisors currently allocate programmatically to alternatives. The reasons aren’t surprising: fragmented workflows, opaque access, and tools that haven’t caught up with demand.

“Despite tremendous growth, the current tooling for private markets remains too limited,” said Samir Kaji, CEO and founder of Allocate. “We’re building the intelligent operating system to bring the same transparency and efficiency to private markets that investors expect from public markets.”

Allocate’s bet is that a modular, software-first approach can finally make private market participation as straightforward as trading ETFs or managing SMA portfolios.

The Product Stack

Allocate calls its platform an “operating system for private markets,” structured around three core products:

• Allocate Curations: vetted access to top-tier private opportunities.
• Allocate Fund Solutions: white-label fund creation plus streamlined admin.
• Allocate Insights: a single pane of glass for LPs to track and manage portfolios across asset classes.

Together, these tools aim to reduce the friction between sourcing, structuring, and managing investments—giving advisors and family offices something closer to a modern dashboard than a paper chase.

Growth Traction

Since launch, Allocate has onboarded more than 1,200 wealth advisory firms and institutional family offices. The firm says assets on its platform have grown to $2.5 billion, with adoption driven by a demand for both simplicity and accountability in private investing.

The company has also bulked up its leadership bench, adding senior hires across product, engineering, and client success. That’s a signal it’s preparing to scale both tech and service as more advisors and institutions move into alternatives.

Why Investors Are Betting Big

For backers like Portage and a16z, the pitch is simple: private markets are becoming mainstream, but the infrastructure is lagging. Whoever builds the “plumbing” could capture significant share.

“Private markets are fast becoming the growth engine of global wealth, and the infrastructure to access them has never been more critical,” said Carter Reum of M13. “Allocate is the platform serious investors trust to navigate this shift.”

It’s a sentiment echoed by Andreessen Horowitz’s Anish Acharya: “Private markets are essential to wealth creation, but participation has long been held back by poor transparency and outdated tooling. Allocate is changing that with an intelligent operating system.”

The Bigger Picture

Allocate’s move comes amid a surge of fintech innovation around alternatives. Rivals like Moonfare, iCapital, and CAIS are also racing to simplify access and management for wealth advisors. The differentiator for Allocate may be its OS-style approach, blending curated deal flow with workflow automation and integrated fund solutions.

With fresh capital, the company plans to expand into AI-powered analytics, deeper automation, and broader coverage of private equity and credit. The goal: make alternative investing as scalable, transparent, and personalized as public markets.

If it succeeds, Allocate could be the software backbone that finally drags private markets into the 21st century.