The RIA, which has also pushed into the Singapore market, says it is using digital tech to change the way in which wealth management services and solutions are delivered.

Arta Finance, a digital family office for US accredited Investors that recently obtained a regulatory approval to launch in Singapore, announced earlier this week that it has achieved a “strategic” investment from the Asian city-state.

EDBI, the investment arm of the Singapore Economic Development Board (EDB) and a division under SG Growth Capital, has added to the firm’s roster of backers, including Peak XV, Ribbit Capital, and Coatue. Arta raised its first funding, entered public view and came out of its “stealth” phase in 2022. Google’s former CEO and chairman Eric Schmidt is among the investors.

Arta, which is jointly headquartered in the US and Singapore, aims to use digital tools to provide a wider population with wealth management services previously confined to a small slice of the world’s population. Arta says it uses technology to open access to alternative assets, and unlock liquidity through lines of credit for eligible members. It also uses AI for investing in public markets.

"We are incredibly grateful for the support from EDB, who have been with us right from the start. Their guidance has been instrumental in helping us bring Arta’s offering to life. We are excited to welcome EDBI as an investor in Arta, further solidifying our vision to scale our platform globally. Together, we are committed to creating a wealth management platform that sets new standards in the industry,” Caesar Sengupta, CEO of Arta Finance, said. (Sengupta is based in Singapore.)

The firm is a registered investment advisor in the US. (See a related story from last year.) In October 2023, the organization said it was launching the following elements: private market access; customized public market investments with AI; principal protected growth; protected wealth, via insurance; tax and estate planning services; tax loss harvesting; personal assistance services; and connection services.