Saturday December 9, 2023

Brady, Antetokounmpo Join $75M Alt Series B

  • Tom Brady, Giannis Antetokounmpo, and Alex Morgan were among those to join a $75 million funding round for Alt.
  • The trading card platform plans to move into other types of collectibles.
Eric Hartline-USA TODAY Sports/Design: Alex Brooks
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Sports trading card platform Alt scored some high-profile investors in its $75 million Series B funding round.

The round, announced last week, was led by Spearhead with participation from Alexis Ohanian’s Seven Seven Six fund and numerous others including Apollo Group, Vibe Capital, and Breyer Capital.

The round also lured athletes Tom Brady, Candace Parker, Giannis Antetokounmpo, Alex Morgan, and Marlon Humphrey. 

  • Alt raised $31 million in March led by First Round, which included Kevin Durant, Larry Fitzgerald, and Kelvin Beachum. The company launched its trading card platform that same month.
  • Since launching, Alt says that customers have listed $200 million worth of asset value on its platform, with $70 million of that held in the company’s physical vault.

The company is looking to expand beyond trading cards, which it is using as “a proof of concept to create financial products that traditional financial institutions don’t support or recognize as collateral,” the company wrote. 

“Over the next few years, we plan to roll out to other asset classes to support everything from trading cards, watches, NFTs, and even LP interests.”

The company plans to launch its mobile app later this month.

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