Pre-IPO is available directly in your Altruist account, powered by Monark. Here is how private-company investing works, what it costs, and who it's for.
Pre-IPO investments are speculative, illiquid, and involve the risk of total loss. Not an offer to sell or a solicitation of an offer to buy any security.
Pre-IPO lives in the Alternatives tab of the account you already use. No new app, no new login, nothing extra to set up.
Pre-IPO sits right next to your stocks and bonds. Nothing new to open or fund.
Subscription docs, confirmations, and statements all land in the same account as everything else.
Browse an offering and subscribe using cash already in your account. No separate forms, no new paperwork.
Any logos shown are illustrative and not necessarily live offerings on the Altruist platform.
It comes down to three core reasons.
Much of a company's growth can happen while it is still private. As with any company, loss of the entire investment is possible.
An asset class outside the traditional public markets, giving a portfolio exposure to a different risk and return profile.
Much of today's innovation in AI, defense, and technology is being built before a company ever goes public.
Many companies are staying private longer than ever before.
The value creation gap: 9 more years — much of that growth now happens in private markets.
Median years from founding to IPO. 1999: U.S. tech IPOs, 4 years (all IPOs: 5). Today: U.S. IPOs in 2025, 13 years. Sources: Jay R. Ritter, University of Florida; Renaissance Capital, via CNBC.
Each dot is a U.S. company earning over $100M a year. 87% of them are private.
A portfolio built only from public stocks has no way to own the other 87% of large American companies.
Population: U.S. companies with last-twelve-month revenue above $100M, counted by number of companies, public versus private. Source: S&P Capital IQ data, Apollo Chief Economist Torsten Sløk, Apollo Academy, April 2024.
Their private-market allocation keeps climbing. Harvard went from 16% to 41% in eight years. These figures span all private asset classes, not just single-company Pre-IPO funds.
Sources: Harvard Management Company FY25 Annual Report, private equity 43% as of June 30, 2025. Yale University Financial Report 2024–25, averaged buyout 17.1%, venture capital 11.3%, real assets 8.9% as of June 30, 2025. CalPERS Trust Level Review, June 30, 2025, allocation to private assets 34.6%. UBS Global Family Office Report 2025, average private equity allocation 21% in 2024. Figures reflect each institution's total allocation across private equity, venture capital, private credit, real estate, and other alternatives. They are not allocations to single-company Pre-IPO SPVs like those Monark offers, and are not a recommendation for any client. Firms named are illustrative and not affiliated with Monark or Altruist.
Access established, well-known private businesses with real revenue.
Private-company valuations can move substantially before a public listing.
These are private-company valuations, not investor returns. They do not reflect the performance of any Monark fund or any investor's actual result. Source: Sacra. Post-money valuations, primary rounds only. *Latest round announced, Aug 2026. Past performance does not guarantee future results.
Take a $1M 60/40 portfolio. Here is how a 5% sleeve fits, and how one well-known Pre-IPO name moved over two years.
Hypothetical allocation for illustration only. Not a recommendation or a prediction. Chart shows company valuation, not share price. Private marks from tender offers and the reported IPO value and market capitalization. Valuation rose about 829% from about $210B (Sep 2024) to about $1.96T (Oct 19, 2026). SpaceX is shown as an example of a single private company; it does not represent the results of any Monark offering or investor. Sources: private valuations, Sacra tender data; exit and Feb 2026 value, Bloomberg via IndexBox. Private marks may not reflect prices available to investors. IPO priced at $135 on June 11, 2026 (SpaceX); public prices are Nasdaq (SPCX) closing prices through Oct 19, 2026 (Investing.com, Aug 6, 2026 close from OpenStock). SpaceX illustrates the potential for substantial company-level valuation growth, not the returns of a 5% portfolio allocation or any Monark SPV. Actual investor returns depend on purchase price, fees, liquidity, and other factors, and may result in total loss. Excludes fees, expenses, and taxes. SpaceX was chosen because it is well known; most private companies do not perform like this, and many fail. Pre-IPO investments are speculative and illiquid, an IPO is not guaranteed, shares may be locked up, and a single-company position can lose all of its value. Past performance does not guarantee future results.
An SPV pools investor money to buy shares in one company. You can get in from as little as $10,000, not millions.
Up to 99 seats per fund.
Pools the money and buys the shares.
Shares of one private business.
Fees, expenses, ownership structure, and investor limits vary by offering and are described in the applicable offering documents.
There is no secondary market at launch, so you can't sell early. The company may also stay private indefinitely.
If the company IPOs, SPV holders are typically paid out in kind into their Altruist account. Timing depends on the offering documents.
Investors may receive cash, stock, or a mix. Liquidity is not always immediate.
Not every company reaches an exit. You could lose your entire investment.
On a $10,000 subscription, $600 is the one-time fee and $9,400 buys the position.
Set by deal size across 99 seats. Stated on every offering.
Already inside the price shown. No ongoing fee, no carry.
In connection with certain offerings, MMM Securities LLC and/or the issuer may pay referral or finder's fees to third parties who introduce prospective non-US investors to an offering.
Meeting any one of these is enough. Investors self-attest inside Altruist — no tax returns or bank statements.
Or $300K with a spouse.
Excluding the primary home.
Held in good standing.
Account eligibility is subject to change. Some offerings require qualified purchaser status, meaning at least $5M in investments.
A live offering is first come, first served. There is no proration.
Browse the company list and build a Pre-IPO watchlist.
Share which names and how much. Non-binding — when there is enough demand, the offering goes live.
The SPV opens and you subscribe. You'll need your Altruist account already funded with cash.
Securities offered through MMM Securities LLC, Member FINRA/SIPC. MMM Securities LLC is not affiliated with Altruist; Altruist is a trademark of its owner, used with permission. Offerings are available to accredited investors only.
This material is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any security. Any offering is made only through definitive offering documents, which describe risks, fees, and conflicts of interest. Minimums vary by offering.
Investments in private companies are speculative, illiquid, and involve substantial risk, including loss of the entire investment. Shares are not exchange-listed, are subject to transfer restrictions, and may be held for an extended or indefinite period. There is no assurance any company will complete an IPO, acquisition, or other liquidity event.
Information on private companies is limited, and valuations may not reflect realizable prices. Investments may be made through special purpose vehicles whose fees and expenses reduce returns. MMM Securities LLC receives compensation in connection with these offerings, which creates a conflict of interest. Interests in private placements and special purpose vehicles may not be protected by SIPC.