Alumni Ventures Group Selects Parallel Markets as Accreditation Vendor of Choice
November 20, 2020 | Abree Murch
MANCHESTER, NH, November 19, 2020 — Today, venture firm Alumni Ventures Group (“AVG”) announced that it will partner with investor identity platform Parallel Markets Inc. (“Parallel”) to provide simple, easy accreditation for AVG’s investors.
Both AVG and Parallel are at the forefront of making venture capital more readily available to accredited investors. Alumni Venture Groups provides accredited investors a selection of nearly two dozen venture funds, offering customers diverse portfolios in an asset class many haven’t owned until now. Parallel’s technology helps users easily authenticate across partner platforms in a single click, using previously provided information to streamline investor onboarding and verification.
Mike Collins, CEO of Alumni Ventures Group, said, “This is a match between two companies with complementary businesses and mindsets. Both AVG and Parallel aim to make owning this important asset class simpler and more accessible. AVG has been searching for a vendor to more efficiently solve the accreditation process for our investors. Parallel Markets was the clear and easy solution for us in terms of professionalism, ease and value-add. And the accreditation proof is portable to other deals our investors want to do— even other platforms.”
Nicholas Goss, Co-Founder and Chief Operating Officer at Parallel, concurred. “We have partnered with over a dozen of the leading online investment platforms. We’re pleased to add Alumni Ventures Group to that list. AVG and Parallel Markets are perfectly in sync with opening private capital markets to a broader investor cohort, using our state-of-the-art technology to speed the process. We view AVG as a long-term partner and will be rolling additional solutions to make investors’ lives even easier.”
Alumni Ventures Group will begin incorporating Parallel Markets into their investor onboarding experience in January 2021.
About Alumni Ventures Group
Alumni Ventures Group offers accredited investors a smart, simple way to invest in venture capital — a key asset class missing from the portfolios of many sophisticated investors. Since launching its first venture fund in 2014, AVG has grown to offer 16 alumni funds and five focused funds, serving a network of over 500,000 community members and subscribers. Evaluating hundreds of opportunities every year and selecting the most promising for fund portfolios, AVG was ranked by PitchBook as the third most active fund in the U.S. in 2019. AVG funds are private, for-profit and not affiliated with or sanctioned by any school. For more information about AVG, visit avgfunds.com.
About Parallel Markets
Parallel Markets provides a portable identity solution for investors online. By acting as a global repository that captures and maintains a registry of verified Accreditation, KYC, AML and CFT information, Parallel is able expedite the onboarding process down to a single click. Parallel’s technology enables cross-platform authentication and information sharing, dramatically reducing the friction in accessing investments online. With the Parallel Passport, investors never have to upload the same document twice, and issuers are able to access an up-to-date registry of investor information. Contact: firstname.lastname@example.org
Media Contact Info
Alumni Ventures Group
788 Elm St.
Manchester, NH 03101