Altruist Added Private Company Pre-IPO Investment Options

Advisors can now facilitate client access to late-stage private company shares through special purpose vehicles.

Updated on Sept. 24, 2026 in Investing

Bold flat-color editorial illustration in navy, cream, and gold showing an interlocked mechanical cog and steel block, symbolizing financial structural change. — Altruist has expanded its platform to allow financial advisors to facilitate client investments in pre-IPO private companies through special purpose vehicles. AI Illustration. Upload story photo >

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Is now a good time for individual investors to prioritize buying shares in private companies?

The RIA platform Altruist has expanded its alternatives marketplace to include pre-IPO investment opportunities. This move provides advisors with a digital process for subscribing eligible clients into special purpose vehicles for late-stage private firms.

Why it matters

A growing share of enterprise value is now captured before companies reach public markets, driving advisor interest in pre-IPO access. However, investors face heightened risks, as seen in the $450 million Linqto scheme that previously impacted 13,000 customers.

While venture-funded firms have seen public listings drop from 26% in 1994 to just 2% by 2009, interest in mega-listings persists. This includes a projected $2 trillion valuation for Anthropic's potential $100 billion offering.

The players

Altruist

A financial platform providing RIA software, custody services, and an alternatives marketplace for investment advisors.

Anthropic

An artificial intelligence company currently preparing for a potential public offering.

Joseph Endoso

The former CEO of Linqto who pleaded guilty to charges linked to an investment scheme.

William Sarris

The founder of Linqto who faces legal charges regarding an alleged scheme targeting private company investors.

The details

Advisors can now browse live and upcoming private offerings directly through the Altruist platform. By utilizing special purpose vehicles, the platform allows advisors to manage the subscription and digital signing process for clients looking to gain exposure to companies before they hit public exchanges. This development follows the company's June 2026 launch of an alternatives marketplace.

1994: 26 percent of venture-funded companies went public.
2009: Two percent of venture-funded companies went public.
June 1, 2026: Anthropic filed a confidential investment prospectus.
June 2026: Altruist launched an alternatives marketplace.

Money Landscape

The shift toward private markets reflects a long-term trend where fewer venture-funded companies proceed to IPOs compared to the 1994 peak. As enterprise growth increasingly happens in the private sphere, platforms are creating infrastructure to accommodate advisor demand for pre-listing access.

Advisors may begin discussing pre-IPO opportunities for client portfolios, which involve different liquidity constraints and risks than public securities. Investors should review these options with a qualified professional to understand the specific fee structure and potential for capital loss.

The takeaway

Private market investments offer a way to participate in company growth before an IPO but carry significant risks compared to traditional public market assets. Investors should always verify the legitimacy of the investment platform and discuss the unique risks of special purpose vehicles with a tax or financial professional.