Arena Private Wealth leads $230 million Series B funding for Positron AI

9 articles · Updated · Barron's · Apr 27

Chicago-based Arena Private Wealth, a $500 million RIA, led the February round for Reno-based Positron AI, joined by Waypoint West and backed by ultra-high-net-worth families, institutions, and a sovereign wealth fund.
This move highlights a trend of independent wealth managers like Arena and LiveLife Capital Partners directly sourcing and leading private investment deals, traditionally the domain of venture capital firms, to offer clients exclusive opportunities.
Such investments are positioned as satellite allocations within diversified portfolios, aiming for outsized gains, while technological advances and expanded staff enable RIAs to handle due diligence, reporting, and tax requirements for these illiquid assets.

With $12 trillion at stake, is your wealth manager giving you access to private markets?

Is the rise of RIA-led funding a smart evolution or a dangerous sign of market froth?

Can RIAs offer 'patient capital' or will it become 'trapped capital' in a downturn?

As RIAs begin funding unicorns, are their clients being exposed to unacceptable risk?

Are wealth advisors truly equipped to build companies, or just portfolios?

When VCs and RIAs compete for deals, who really wins: the startup or the investor?