Alternative Investment
Platform Reviews
Independent, institutional-grade analysis of 29+ alternative investment platforms. Compare features, verify claims, and access detailed due diligence frameworks built on our three-pillar evaluation methodology.
Reviews updated through January 2026
TL;DR: How to Use This Page
Quick Actions:
- Browse by category: Jump to specific asset classes below
- Search platforms: Use interactive filters for name, asset class, investor type
- Compare up to 3: Toggle compare mode to evaluate side-by-side
- Check red flags: Read walk-away signals before shortlisting
- Sort by recency: See recently updated reviews first
What This Page Covers:
- ✓Platform structure, custody, fees, liquidity, regulatory status
- ✓Investor fit analysis (institutional, retail, accredited)
- ✓Independent analysis with zero financial conflicts
What It Doesn't:
- ✗Personalized financial advice or recommendations
- ✗Forward return predictions or performance guarantees
Platform Reviews by Asset Class
Browse 29+ platform reviews organized by investment category. Each category page includes featured platforms, detailed analysis, and category-specific due diligence frameworks.
Carbon & Climate Finance
Investing in the decarbonization economy — from carbon removal credits to climate-yield assets.
Terrapass
Legacy U.S. carbon offset retailer selling portfolio-based, registry-verified offsets and RECs with immediate retirement—built for consumer/SMB climate claims and simple procurement, not institutional-grade offtake, tradable carbon exposure, or investment returns.
KlimaDAO (Klima Protocol ecosystem)
Onchain carbon market infrastructure: tokenized carbon pools + retirement aggregator + Carbonmark marketplace rails—powerful for settlement and composability, but buyers still bear carbon-quality, liquidity, governance, and smart-contract risk.
NCX
Forest carbon marketplace focused on short-duration harvest deferral and data-driven baselining - fast entry for landowners and buyers, but crediting theory, additionality, and claim integrity are the core diligence battlegrounds.
Tokenized Real-World Assets
Where traditional finance meets blockchain — treasuries, credit, and real estate on-chain.
Backed Finance
Swiss tokenized-securities stack issuing blockchain-based tracker certificates (xStocks/bTokens) that mirror stocks and ETFs—built for DeFi composability and protocol integrations, not retail brokerage or direct share ownership.
Polymesh
Purpose-built blockchain for regulated assets where identity, compliance, and governance are first-class protocol primitives—designed to solve the institutional failure modes of public blockchains rather than maximize permissionless composability.
Securitize
Tokenization + transfer-agent rails + a regulated secondary market stack (broker-dealer + ATS) built for digital securities—where investor outcomes hinge on issuer governance, transfer restrictions, corporate actions, settlement/custody integrations, and whether secondary liquidity is real (eligible counterparties, real order flow) rather than simply “tokenized.”
Fractional Real Assets & Farmland
Real assets for the digital age — farmland, storage, energy and infrastructure fractionalized for investors.
Private Credit & Revenue-Based Financing
The rise of alternative lending and fintech credit for SMBs and startups.
Willow Wealth
Multi-asset alternative investments platform (formerly Yieldstreet) offering direct deal selection, managed portfolios, and institutional fund access across private credit, real estate, private equity, legal finance, and art. CNBC reporting documented investor losses exceeding $200M through late 2025; platform rebranded and removed historical performance data from public website during same period.
Fundrise
Vertically-integrated private markets platform providing non-accredited investors access to diversified real estate portfolios, venture capital funds targeting AI/ML growth companies, and private credit strategies through low-cost eREITs and interval funds with quarterly liquidity windows and minimums starting at $10.
Energy Transition & Infrastructure
Profiting from the clean energy build-out — storage, grid, renewable yield.
Energea
Solar energy crowdfunding platform offering equity stakes in global solar project portfolios—$100 minimum, ~11-14% target IRR, monthly distributions, 3-year minimum hold with no guaranteed redemption. Non-accredited investors welcome via Reg CF/Reg A+ structures.
EnergyNet
B2B marketplace for oil & gas asset sales via continuous auctions and sealed bids—48K+ registered buyers, ~84% transaction success rate, $1K-$250M+ deal range. Industry participants only; not a retail investment platform.
Digital IP & Royalty Investing
Turning creative works into yield — music, film, and content IP monetization.
Fine Art & Collectibles
Art as an investable asset — fractional ownership, funds, and collectible economics.
Fine Wine & Whiskey Cask
Luxury assets that age — investable bottles, funds, and cask platforms.
Classic Cars & Rare Watches
Mechanical masterpieces as stores of value — from Ferraris to Patek Philippe.
Luxury & Collectible Funds
Institutional access to passion assets — bundled art, wine, and collectible portfolios.
Litigation Finance & Legal Claims
Financing legal claims as an asset class — from commercial litigation funds to pre-settlement consumer funding.
Secondary Startup & Pre-IPO Markets
Accessing late-stage private companies before IPO through secondary marketplaces, funds, and tender offers.
Structured Credit & Securitized Yield
Credit risk packaged into tradable instruments — from ABS and MBS to CLOs and consumer loan funds.
Latest Platform Review Updates
Most recently updated platform reviews
Rally (formerly Rally Rd.)
Energea
Eagle Point Credit Company
EquityZen
EnergyNet
Vinovest
Willow Wealth
Masterworks
Burford Capital
SongVest
Fundrise
FarmTogether
Featured Platform Reviews (A-Z Sample)
Complete Platform Index (A-Z) • 29 Reviews
Search & Filter Platform Reviews
Use the interactive tools below to find platforms matching your criteria. Compare up to 3 platforms side-by-side.
29 Platforms Found
Rally (formerly Rally Rd.)
Fractional ownership platform for collectibles (cars, art, memorabilia)—$50 minimum, SEC-registered securities, 90-day lockup then secondary trading. Non-accredited welcome but highly illiquid assets with uncertain exit timing.
Energea
Solar energy crowdfunding platform offering equity stakes in global solar project portfolios—$100 minimum, ~11-14% target IRR, monthly distributions, 3-year minimum hold with no guaranteed redemption. Non-accredited investors welcome via Reg CF/Reg A+ structures.
Eagle Point Credit Company
Publicly-traded closed-end fund (NYSE: ECC) investing in CLO equity and junior debt - $0.14 monthly distribution (~24% annualized on $7.00 NAV as of Q3 2025). High-income structured credit exposure with significant NAV volatility, leverage amplification, and distribution sustainability risk.
EquityZen
Secondary marketplace connecting accredited investors with pre-IPO shares in late-stage private companies through SEC Reg D offerings—$10K-$50K minimums, 3-5% upfront fees, 2-5 year hold periods, platform reports 74% net aggregate exit returns (per materials as of Jan 2026).
EnergyNet
B2B marketplace for oil & gas asset sales via continuous auctions and sealed bids—48K+ registered buyers, ~84% transaction success rate, $1K-$250M+ deal range. Industry participants only; not a retail investment platform.
Vinovest
Managed wine and whiskey investment platform providing portfolio construction, authentication, climate-controlled storage, and insurance for investment-grade bottles and casks, with 2.25-2.85% annual all-inclusive fees and 5-15 year recommended hold periods for illiquid tangible collectibles.
Willow Wealth
Multi-asset alternative investments platform (formerly Yieldstreet) offering direct deal selection, managed portfolios, and institutional fund access across private credit, real estate, private equity, legal finance, and art. CNBC reporting documented investor losses exceeding $200M through late 2025; platform rebranded and removed historical performance data from public website during same period.
Masterworks
Fractional ownership platform for blue-chip contemporary art enabling investors to buy SEC-qualified shares ($20/share; platform-stated $15,000 minimums with reported flexibility during onboarding) in multi-million dollar works by artists like Banksy, Basquiat, and Warhol, with 3–10 year holds and 23 profitable exits to date (platform disclosed).
Burford Capital
Publicly-traded litigation finance firm (NYSE: BUR, LSE: BUR) providing capital to fund commercial lawsuits and arbitrations for corporations and law firms, with $7.5 billion portfolio generating 82-93% historical ROIC (inception through 2023), though fair value accounting creates quarterly volatility.
SongVest
SEC-qualified fractional music royalty platform enabling investors to purchase SongShares (Regulation A offerings) tied to defined royalty revenue streams, with quarterly distributions dependent on reporting cycles and asset-specific copyright terms.
Fundrise
Vertically-integrated private markets platform providing non-accredited investors access to diversified real estate portfolios, venture capital funds targeting AI/ML growth companies, and private credit strategies through low-cost eREITs and interval funds with quarterly liquidity windows and minimums starting at $10.
FarmTogether
Premium fractional farmland platform offering accredited investors access to high-value permanent crops and row crop farms through multiple investment structures including crowdfunding ($15K minimum), sustainable fund ($50K minimum), and bespoke offerings ($3M+), with emphasis on California/Pacific Northwest specialty agriculture.
Percent
FINRA-registered broker-dealer connecting accredited investors with short-duration private credit deals (6-36 months, 10-20% yields) through marketplace access ($500 minimums) or managed accounts ($1M+). Platform has facilitated $2B+ across asset-based lending, consumer credit, and specialty deals since 2018.
Backed Finance
Swiss tokenized-securities stack issuing blockchain-based tracker certificates (xStocks/bTokens) that mirror stocks and ETFs—built for DeFi composability and protocol integrations, not retail brokerage or direct share ownership.
Polymesh
Purpose-built blockchain for regulated assets where identity, compliance, and governance are first-class protocol primitives—designed to solve the institutional failure modes of public blockchains rather than maximize permissionless composability.
Securitize
Tokenization + transfer-agent rails + a regulated secondary market stack (broker-dealer + ATS) built for digital securities—where investor outcomes hinge on issuer governance, transfer restrictions, corporate actions, settlement/custody integrations, and whether secondary liquidity is real (eligible counterparties, real order flow) rather than simply “tokenized.”
Goldfinch
Onchain access layer for institutional private credit via Goldfinch Prime—where investor outcomes hinge less on “DeFi yield” and more on note-level enforceability, fund look-through risk, KYC/jurisdiction gating, redemption reality (best-effort quarterly), and the operational/legal integrity of the wrapper around offchain private credit funds.
Maple Finance
Institutional onchain credit market built around permissioned lending pools, professional underwriters, and enforceable loan terms—where returns are driven less by protocol mechanics and more by borrower quality, collateral discipline, and real-world recovery processes.
Centrifuge
Institutional onchain asset-management infrastructure powering tokenized funds and real-world asset issuance with DeFi distribution—best evaluated as rails + admin layer (tokenization, reporting, compliance gating, integrations), not as a unified yield marketplace or a single issuer of investments.
Ondo Finance
Tokenized securities issuer + onchain distribution stack focused on U.S. Treasuries today (USDY, OUSG) and tokenized public securities via Global Markets—where investor outcomes hinge less on “DeFi yield” and more on legal enforceability, redemption mechanics, custody controls, and claims-defensibility of 1:1 backing.
Terrapass
Legacy U.S. carbon offset retailer selling portfolio-based, registry-verified offsets and RECs with immediate retirement—built for consumer/SMB climate claims and simple procurement, not institutional-grade offtake, tradable carbon exposure, or investment returns.
KlimaDAO (Klima Protocol ecosystem)
Onchain carbon market infrastructure: tokenized carbon pools + retirement aggregator + Carbonmark marketplace rails—powerful for settlement and composability, but buyers still bear carbon-quality, liquidity, governance, and smart-contract risk.
NCX
Forest carbon marketplace focused on short-duration harvest deferral and data-driven baselining - fast entry for landowners and buyers, but crediting theory, additionality, and claim integrity are the core diligence battlegrounds.
Charm Industrial
Durable carbon removal supplier using biomass-to-bio-oil conversion and long-term storage—built for enterprise offtake, not a marketplace, with contract/MRV specifics driving real buyer risk.
Carbonfuture
Durable carbon removal marketplace + MRV infrastructure focused on biochar and other engineered removals—built for corporate procurement with verifiable delivery, not tradable carbon exposure or investor returns.
Puro.earth
A carbon-removal crediting standard + issuance/registry layer (CORCs) for engineered removals—optimized for supplier onboarding, verification workflows, and buyer procurement, not for retail investing or tradable exposure.
Patch
Carbon credit procurement marketplace and API infrastructure connecting buyers with removal and avoidance projects—optimized for registry-linked purchasing and retirement evidence, not investment exposure or tradable carbon assets.
Cloverly
Enterprise carbon-credit procurement and API retirement workflows—built for climate commerce (embedded offsets + audit trail), not tradable exposure, with meaningful project risk borne by the buyer.
AcreTrader
Institutional-grade fractional farmland platform offering accredited investors direct ownership stakes in professionally managed U.S. farms with comprehensive due diligence, operator vetting, and dual return streams from land appreciation and crop income.
Why Platform Reviews Matter in Alternative Investments
The democratization of alternative investments has created unprecedented access to asset classes historically reserved for institutions and ultra-high-net-worth individuals. However, this accessibility comes with significant complexity: opaque fee structures, varying regulatory protections, illiquidity constraints, and fundamental differences in platform architecture.
Our platform reviews provide the analytical rigor typically available only to institutional allocators—translated for direct implementation. Each review employs our three-pillar evaluation framework, examining structural characteristics, regulatory positioning, and investor fit across multiple dimensions.
Independent Analysis
Zero financial relationships with reviewed platforms. Our analysis is driven solely by publicly available disclosures, regulatory filings, and structural evaluation.
Institutional Framework
Evaluation criteria mirror institutional due diligence: custody models, regulatory status, fee transparency, liquidity mechanics, and operational controls.
Investor-Specific Fit
Explicit investor fit analysis: institutional, retail, accredited/non-accredited requirements, tax complexity, and regulatory constraints.
Understanding Platform Architecture Types
Alternative investment platforms are not homogeneous. Understanding architectural differences helps investors identify appropriate risk profiles and operational models for their needs.
Marketplace vs Manager vs Protocol
Marketplaces aggregate multiple issuers and offerings (Yieldstreet, Republic). Risk is issuer-dependent.
Managers originate and underwrite directly (Fundrise, AcreTrader). Manager quality dominates outcomes.
Protocols provide infrastructure for others to issue (Centrifuge, Tokensoft). Product-specific diligence required.
Custodied vs Self-Custody Models
Qualified Custodian: SEC-regulated custody (highest safety, operational costs, traditional rails).
Platform Custody: Platform holds assets (operational risk, efficiency gains, requires trust).
Self-Custody: Wallet-based holding (eliminates custodian risk, introduces key management and protocol risk).
Liquidity Structures
Interval Funds: Quarterly redemptions at NAV (controlled liquidity, no trading volatility).
SPV/LP Structures: Multi-year lockups (illiquid, aligns with underlying assets, higher potential returns).
Token Wrappers: Variable liquidity (depends on secondary markets, permissioning, and redemption rights).
Frequently Asked Questions
How are platforms selected for review?
We prioritize platforms with meaningful traction (assets/users), regulatory clarity, and structural transparency. Selection does not imply endorsement—many reviewed platforms receive critical assessment.
Are these reviews sponsored or influenced by platforms?
No. We maintain zero financial relationships with reviewed platforms. Reviews are based solely on publicly available information and independent analysis.
What factors indicate lower operational risk in alternative investment platforms?
Lower operational risk generally correlates with: SEC-registered status (broker-dealer, RIA, or funding portal), qualified custodian usage, transparent fee structures, and clear regulatory compliance. However, 'lower operational risk' is not a safety guarantee or recommendation—all alternative investments carry inherent risks including illiquidity, market risk, and potential loss of capital that differ fundamentally from FDIC-insured accounts. Platform structure affects operational risk but does not eliminate investment risk.
How do I know if a platform is regulated?
Check platform disclosures for SEC registration (broker-dealer, RIA, funding portal), FINRA membership, state securities registrations, or equivalent non-US regulatory oversight. Regulated platforms must file public disclosures (Form ADV, Form BD, offering circulars) available through SEC EDGAR or state securities regulators. Absence of clear regulatory disclosure is a red flag.
What fees should I expect on alternative investment platforms?
Fee structures vary significantly: Real estate and private credit platforms typically charge 1-2% annual management fees plus 10-20% performance fees (carry). Tokenized platforms may charge protocol fees (0.1-1%) plus underlying asset fees. BDCs have expense ratios of 3-8%. Always calculate total fee burden including management, performance, administrative, and underlying asset fees. Fees above 3% annually require exceptional returns to justify.
Are tokenized RWAs securities?
Many tokenized real-world assets representing ownership interests, profit shares, or investment contracts are often treated as securities under U.S. law depending on their specific structure and characteristics. Tokenization does not inherently change underlying legal classification. Many tokenized treasuries, credit instruments, and equity tokens are explicitly structured as securities with appropriate registrations or exemptions. Unregistered offerings claiming non-security status warrant careful evaluation. Consult legal counsel for specific guidance on any tokenized asset.
How often are reviews updated?
Reviews are updated quarterly or when material changes occur (regulatory actions, structural changes, significant incidents). Last updated dates are prominently displayed on each review.
Explore Alternative Investment Categories
Browse platform reviews by asset class to find investment opportunities aligned with your portfolio objectives and risk tolerance.
Carbon & Climate
Carbon removal credits, tokenized assets, and climate yield instruments
Tokenized RWA
On-chain treasuries, private credit, and real estate tokenization
Private Credit
Direct lending, BDCs, interval funds, and revenue-based financing
Real Estate
Crowdfunding, farmland, and fractional property ownership
Editorial Independence and Review Methodology
AltStreet provides independent research and maintains zero financial relationships with reviewed platforms. Reviews are based solely on publicly available disclosures, regulatory filings, platform documentation, and structural analysis using our three-pillar evaluation framework. Any exceptions to this independence policy are explicitly disclosed within individual reviews.
Platform reviews are for educational and informational purposes only and do not constitute investment advice, recommendations, or endorsements. Alternative investments involve significant risks including illiquidity, complexity, and potential loss of capital. Investors should conduct independent due diligence and consult qualified financial, tax, and legal professionals before making investment decisions. Historical performance and platform characteristics are subject to change. Review accuracy depends on disclosure quality—platforms with opaque structures receive appropriately cautious assessments.
