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Michael Batnick

Industry Spotlight > RIAs

Ritholtz-Affiliated VC Fund Invests in RIA Software Platform

By Jeff Berman

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What You Need to Know

  • The Compound Capital Fund I invested in SmartRIA and its cloud-based compliance software platform.
  • The fund is RIA Ritholtz Wealth Management’s affiliated venture capital fund and serves as its sub-advisor.
  • The companies didn't specify how much of an investment was made.

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.

“It pushes our flywheel faster, allowing us to achieve our ultimate goal: to be the best at simplifying wealth management compliance,” he said in a statement.

Equally enthusiastic about the strategic relationship with SmartRIA, Batnick said: “By working together, both companies will be able to drive transformational change in the wealth management industry. We’re looking forward to all the exciting applications and results from this partnership.

SmartRIA also announced a strategic partnership with Dynasty Financial Partners and MarketCounsel in December 2021.

In a LinkedIn post, Shirl Penney, Dynasty CEO and president, congratulated the partnership between Ritholtz and SmartRIA, noting his firm was “proud to be an investor in SmartRIA also along side of MarketCounsel Consulting! Great collaboration happening in the #entrepreneurial #RIA space.”

(Pictured: Michael Batnick)

Jeff Berman

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