Hamilton Lane partners with figura to launch the first private market-focused, blockchain-native registered investment fund

• First time a private market focused 1940 Act Registered Investment Fund will have digitally native share classes
• Partnership will provide blockchain access to Hamilton Lanes Private Assets Fund (“PAF”) using Figure Technologies’ Digital Fund Services (“DFS”)
• Hamilton Lane will leverage Provenance Blockchain for transfer agent services, fund subscription and investor liquidity for PAF

*The prospectus for the new share classes is not complete and may be changed. We cannot sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This information is not an offer to sell these securities and does not solicit an offer to buy these securities in any state where the offer or sale is not permitted.

SAN FRANCISCO and CONSHOHOCKEN, Pa., 26 October 2022 /PRNewswire/ — Figure Technologies, Inc. (“Figure”) and Hamilton Lane (NASDAQ: HLNE) are preparing to launch three new share classes of Hamilton Lane’s private market-focused funds registered under the Investment Company Act of 1940 (“1940) Act”) that digitize the fund share ownership record on the Provenance Blockchain using the Figures Digital Fund Services (“DFS”) platform.

Hamilton Lane, one of the largest private markets investment firms globally, first applied for the new share classes 26 October 2022, for its Private Assets Fund (“PAF” or the “Fund”). Hamilton Lane’s anticipated launch of the new share classes also marks the first time a firm has provided exposure to a private markets investment strategy under the 1940 Act through a blockchain-native share class, and is its latest significant step in transforming and reducing inefficiencies within the private markets industry.

As a 1940 Act registered fund, PAF is more accessible to qualified US investors, including certain individual investors, their wealth advisors, as well as institutions. It provides access to a diversified portfolio of private equity and private credit assets through a single investment – ​​either through the traditional primary issuance process or via Figure’s DFS platform.

Hamilton Lane is initially using DFS to streamline the primary issuance process and plans to launch two more closed-end private market funds on the DFS platform in the coming months. Investors in the fund will also benefit from Universal Passporting, which allows investors to reuse their KYC/AML credentials when transitioning to new investments, reducing time, cost and friction. DFS uses the originating blockchain to perform traditional transfer agent functions such as cap table management, capital calls, distributions and shareholder communications. The Provenance Blockchain was purpose-built in a regulatory manner with the scale, security and cost structure required for financial institutions.

“We are thrilled to partner with Figure to provide yet another digital-first means for investors to access the private markets. Hamilton Lane was one of the earliest major private markets firms to tokenize a fund and we remain committed to identify innovative technology solutions as a means to address some of the traditional pain points in the asset class,” said Victor Junghead of digital assets at Hamilton Lane.

This is the latest development in support of the firm’s commitment to using technology to expand investor access to the private markets. The announcement follows other recent steps Hamilton Lane has taken to expand access to its Global Private Assets Fund as well as other closed-end funds it manages.

“Hamilton Lane understands the access, convenience and cost savings brought about by Provenance Blockchain and we are proud to work with them to upgrade the financial services industry,” said Mike Cagney, co-founder and CEO of Figure. “This collaboration is ideally suited to combine the expertise of the Hamilton Lane and Figure teams to unlock the potential of blockchain.”

With this announcement, Hamilton Lane joins 15 other funds and special purpose vehicles to offer blockchain-based vehicles on the DFS platform, although PAF is the first ever 40 Act fund to be focused specifically on the private markets. Figure will continue to work with industry participants and the managed fund community to best leverage blockchain technology across all fund types and lifecycles.

About figure

Figure is transforming financial services through blockchain, bringing speed, efficiency and savings to consumers and institutions. Figure continues to reveal a range of fintech news across the capital markets, investment management and banking and payments sectors. Figure leverages Provenance Blockchain for loan origination, servicing, financing and now private fund services. The company was founded in 2018 by a serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar enterprise under his leadership as CEO. Learn more about

About Hamilton Lane

Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to institutional and private wealth investors worldwide. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs more than 540 professionals operating in offices throughout North America, Europe, Asia Pacific and Middle East. Hamilton Lane has more than 832 billion dollars in assets under management and supervision, composed of 108 billion dollars in discretionary assets and more than 724 billion dollars in advisory funds, per 30 June 2022. Hamilton Lane specializes in building flexible investment programs that give clients access to the full range of private market strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn:

About Provenance Blockchain

Provenance Blockchain is built specifically for the financial services ecosystem. Leading financial institutions and fintechs are leveraging Provenance Blockchain to enable the entire lifecycle of digital assets to deliver significant business and customer value. Provenance Blockchain is successfully transforming lending, securitization, payments and exchanges, and has supported over 10 billion dollars in transactions. Provenance Blockchain’s original tool token, HASH, is used to pay transaction fees and enable governance, and is available on OkCoin and dlob.io. For more information, please visit provenance.io, Twitter @herkomstfdnand LinkedIn.

Provenance Blockchain Foundation Media Contact:

Important information about PAF

Investors should carefully consider the Private Assets Fund’s investment objectives, risks, fees and expenses before investing. For a prospectus containing this and other information about the fund, call 1 (888) 882-8212. Investing in the fund involves risk, including loss of principal.

The Fund operates as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. Although the fund intends to buy back shares quarterly, you may not have access to the money you invest over a long period of time. The fund is not a liquid investment. You may not be able to sell your shares at the time or in the amount you choose, regardless of how the fund performs. Investors should understand that the Fund’s shares are not currently listed on or available for trading through a stock exchange, and a market for trading on an exchange may never be available to investors. There is currently no secondary market, and no such market is expected to develop. Because you may not be able to sell your shares at the time or in the amount you choose, you may not be able to reduce your exposure to the Fund in a market downturn. An investment in the fund may not be suitable for investors who may need the money they invested in a specified time frame.

Hamilton Lane Advisors LLC is the advisor to Hamilton Lane PAF. PAF is distributed by UMB Distribution Services, LLC. UMB and Hamilton Lane are not affiliated.

SOURCE Hamilton Lane