Altruist

“Vanguard agreed to acquire...Altruist for about $4 billion — more than double the startup's $1.9 billion valuation last year.”

“Vanguard agreed to acquire Altruist...The deal values Altruist at about $4 billion.”

“Vanguard Group has agreed to acquire Altruist... Axios has learned the price was $4.6 billion in cash. Altruist had raised over $600 million in VC funding, most recently at a $1.9 billion post-money valuation in early 2025.”

“While $4.6B sounds like a strong VC outcome, the company raised at a $1.9B valuation "in early 2025" — meaning Vanguard paid roughly 2.4x the last round price within roughly 18 months.”

“Altruist, a digital native custodian firm for independent RIAs, launched a marketplace offering advisers direct access to private funds offered by the likes of Blackstone and KKR.”

“If successful, the Altruist model seems likely to accelerate similar ventures by other custodial firms, which provide critical connective tissue for settling and recording security trades.”