Opto Investments, the newly launched private capital platform led by investment veteran Mark Machin and Palantir Technologies Inc. co-founder Joe Lonsdale, has raised US$145 million in a Series A funding round, according to a statement reviewed by…
Opto is valued at US$475 million after the round, said people familiar with the matter, who asked not to be identified because it was private.
Machin, who last year stepped down from his post as head of the Canada Pension Plan Investment Board after almost a decade with the fund, will lead Opto as chief executive officer. He said this year’s unraveling of public equities markets creates an opportunity for launching Opto, which intends to give registered investment advisers access to high-end private funds.
Machin met tech investor Lonsdale years ago during a “social weekend” in Quebec City. After keeping in touch since then, Machin was approached by Lonsdale about an idea for a company and it “tickled” his interest.