LocalPaper Launches First Fine Art Investment Offering of Its Kind, Granting Investors Exposure to Untapped Blue-Chip Art Market; Closes Oversubscribed with $4.4M
The offering garnered a fast and strong response from investors, oversubscribing the fund in less than two weeks
MIAMI, Sept. 14, 2021 /PRNewswire-PRWeb/ -- LocalPaper, whose alternative investment platform offers pre-funded, institutional-quality investments to accredited investors, recently launched a new fine art investment opportunity. Created in partnership with Lio Malca, a renowned art collector and dealer based out of New York City, the offering provides investors a new way to diversify their portfolios; Malca personally sourced the artworks and LocalPaper's principals pre-vetted and invested alongside investors. The offering included artwork by renowned artists, Jean-Michel Basquiat, Keith Haring, George Condo, Kenny Scharf and a selection of emerging artists.
Fine art's historically low correlation to the stock and real estate markets makes investing in art an ideal diversification strategy. However, the barriers of entry have long been high and opaque. Successful investment in the art world requires deep industry knowledge and large amounts of capital.
To disrupt this paradigm, LocalPaper adapted its strategy and success in the real estate asset class, partnering with Malca to allow platform users to invest directly in a portfolio of contemporary art. Investors can rely on Malca's expertise to provide valuation, curation and sourcing in fine art.
"Our philosophy is that you shouldn't have to be an expert to successfully invest in art," said Joel Eidelstein, managing partner of LocalPaper. "We're proud to be able to give accredited investors the opportunity to directly invest in spectacular artwork, curated by a true expert and managed professionally. The incredible response we've seen thus far is clear validation of the demand."
In the coming months, LocalPaper will regularly launch new art and real estate investments.
To register to invest with LocalPaper, visit the sign-up page.
###
About LocalPaper
LocalPaper is a Miami company whose investment platform offers pre-funded, institutional-quality investments to accredited investors. Created by licensed professionals who have facilitated and managed over $1 billion in real estate transactions with zero principal loss, it is the first platform to offer real estate debt investments in multiple tranches, allowing investors a wide range of investment options on a single platform. In July 2021, LocalPaper began offering fine art as an asset class on its platform. For more information, visit localpaper.com or follow @localpaper_usa.
Media Contact
Taylar Ramsey-Thompson, Taylar Thompson Events, +1 (513) 515-1865, [email protected]
SOURCE LocalPaper
Share this article