AST, through its Private Company Solutions (AST PCS) affiliate, launched its innovative SaaS-based Astrella solution for non-listed companies, providing capitalization (cap) table and employee share plan management tools for investors and employees. The platform provides users access to their holdings through a mobile app, integrates with partner companies such as Box, EquityZen, Tapestry Compliance and others, and provides a total solution for small and large unlisted companies.
Astrella arrives at a time when private companies are waiting longer to contemplate an exit, especially under today's challenging market conditions. Cap tables are becoming more complex, and as a result, investors and employees are demanding sophisticated solutions like secondary market platforms and liquidity. With the ability to track companies regardless of the country incorporated or currency, Astrella is the first truly global solution built using private blockchain technology.
Marty Flanigan, CEO of AST, stated, "Until we built Astrella, private shareholder technology was decades behind listed companies. AST is the industry-leading provider for North American IPO services. Our clients were asking us to leverage that expertise and develop a solution supporting private companies. Astrella is a natural extension of what we do in meeting these needs."
Incorporating both distributed ledger and AI technology, Astrella is designed to bring efficiencies and transparency to the growing equity ownership market and the increasing number of VC firms, family offices and others. Astrella is also designed to support multi-company portfolios, including PE firms that wish to manage all of their companies in one place.
"The 'new normal' economic conditions after the COVID-19 outbreak portend great change for a market that was already increasingly global in nature and rapidly transforming," added Carine Schneider, AST PCS President. "Spreadsheets are managing trillions of dollars of investor wealth and have simply not kept up with the increasing complexity of private companies' cap tables, potentially costing investors significant returns at exit."
Companies can license Astrella today by going to www.astrella.com.
About AST
AST was founded as a registrar over 45 years ago. Through organic growth and acquisitions, AST has pioneered a new model of integrated ownership data management. AST affiliates include AST Trust Company (Canada), D.F. King Co, Inc., Donlin, Recano Company, Inc and AST PCS. For more information, please visit www.astfinancial.com
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Contacts:
Paul Arens
AST PCS
Phone: +31 622 19 683
parens@astfinancial.com
