FOUNDER and CEO Eric Satz of Alto Solutions Inc. (aka AltoIRA fka Saltvest) confirmed that assets of his former AltoCryptoIRA unit totaling $600MM were recently sold for $65MM to New York City-based Public Holdings Inc.
The news broke first in FORTUNE, featuring Public Co-founder and Co-CEO Leif Abraham, who's also a tech Angel.
Roughly half of Alto's proceeds from the transaction arrived as cash and half came as stock in Public Holdings Inc., Satz said.
The new relationship also affords 10-year-old AltoIRA "upside" opportunities for gain-sharing in Public's CryptoAI business, Satz noted.
AltoIRA currently plans to provide CryptoIRA custodial and related services to support Public's CryptoAI line of business at least through 2030.
| |
| Leif Abraham |
Satz, 56, told VNC that in his view the AltoCryptoIRA transaction with Public reflects both the maturation of crypto as one of, if not the most liquid assets in the world, as well as the fact that his AltoCryptoIRA had far less distribution than Public Holdings.
VNC research indicates Public.com reported 3MM users of its Public.com platform by May this year.
Satz underscored that the deal allows AltoIRA to "self-finance" its original alternative-assets business, rather than running that and Crypto side-by-side.
Now age 56, Satz added that he believes in the concept of "public mission" and thus views his former members' upgraded and expanded trading via Public.com is a "win" for his AltoCryptoIRA users.
Satz told VNC on Nov. 14 that AltoIRA has 75 employees, adding that staff levels would not be affected by the Public Holdings deal.
The company's team page shows Satz, alongside Scott Harrigan, president of AltoIRA and CEO of Alto Securities; plus, Chief People Officer Andrea Kampine.
Satz confirmed AltoIRA has no plans to use these latest proceeds to support a liquidity event for existing shareholders.
The transaction with Public Holdings--which calls for AltoIRA advisory services in support of Public Holdings through 2030--was completed within 10 weeks of the first discussion of the asset-sale option.
While he had for some time watched and admired Public.com, Satz said the rapid transaction close was facilitated by his longstanding relationship with Public Holdings' COO Stephen Sikes.
Asked about shareholders' ownership and control of AltoIRA, Satz said only that "no changes to our ownership" came through the Public Holdings transaction.
Satz also declined to identify individual current or former investors who invested and-or exited since Alto's founding in 2015.
A portion of the firms and individuals reported by VNC and other media and believed to have invested at some point in AltoIRA/Saltvest since its founding (additions and corrections welcomed):
Advance Venture Partners, Bay Wharf Capital, Calm Ventures, Hemisphere Ventures, Unusual Ventures, Oyster Ventures, Jefferson River Capital, Tuesday Capital, William Guttman, Third Prime, Acrew Capital, Alpha Edison, Carta, Moment Ventures, Alpha Edison, Coinbase Ventures, Franklin Templeton Investments, NY Life Ventures, Stone Ridge Holdings Group, Alumni Ventures Group, Sequoia Capital's Scout Fund, Foundation Capital, Amplify.LA and others. Other published estimates have indicated nearly 60 investors have participated since 2015.
VNC notes that Alto's General Counsel is Tom Eidt, based in Oakland. Alto also relies on law firms, including Stradley Ronon Stevens & Young LLP (Philadelphia).
Satz's LinkedIn here and VNC's previous Satz coverage here. This story will be updated as warranted. VNC
.last edited 19 November 2025 1835