RIA Ritholtz Wealth Management's affiliated venture capital fund has made a strategic investment in SmartRIA and its cloud-based compliance software platform, the companies said.
The Compound Capital Fund I, managed by AngelList Advisors, typically invests directly in technology companies serving RIAs. Ritholtz is the sub-advisor for the fund, while Michael Batnick, Ritholtz managing partner, serves as the fund lead.
The companies didn't specify how much of an investment was made in SmartRIA by the Fund.
This collaboration between SmartRIA and Ritholtz "will drive innovation in the wealth management industry by combining RWM's investment management expertise with SmartRIA's innovative compliance technology," the companies said in a joint news release.
The new partnership with Ritholtz will help SmartRIA "reach new heights as demand for scalable compliance solutions is accelerating and showing no signs of slowing down," according to Mac Bartine, SmartRIA CEO.
