Tank Talks By Ripple Ventures The $30 Trillion Shift: Why Private Markets Are Taking Over Finance with Samir Kaji of Allocate
In this episode of Tank Talks, Matt Cohen is joined by Samir Kaji, CEO and Co-Founder of Allocate, to break down the explosive growth of private market investing and why trillions in new capital are about to reshape the entire wealth ecosystem. Fresh off a $30.5M Series B, Samir unpacks how Allocate is building the missing infrastructure connecting fund managers, RIAs, and the next generation of investors, solving the painful workflows, broken data pipes, and manual processes still holding the industry back. From intelligent deal discovery and auto-filled subscriptions to AI-powered diligence and portfolio personalization, Samir explains how technology will unlock access, efficiency, and liquidity at scale for both advisors and allocators.
He also dives deep into the current venture cycle, the AI valuation frenzy, and the widening gap between mega-funds and emerging managers. Samir gives an unfiltered look at where the real opportunities lie, why liquidity is the next trillion-dollar unlock, how secondaries will redefine private markets, and what investors should be watching heading into 2030. If you want to understand where private markets, wealth management, and alternative investing are truly headed, this episode is essential listening.
The Origin Story: 25 Years Watching the Market Shift (03:09)
* Samir’s work at SVB and First Republic observing the decline of IPOs
* Cloud computing’s impact on fund proliferation
* Early signs that private markets needed new infrastructure
* How HNWIs and family offices began demanding access decades before the rails existed
Why Allocate Exists & What It Actually Solves (07:04)
* The fragmented “dark forest” problem of GP <> RIA connectivity
* Why wealth advisors can’t scale alt allocations using PDFs and lawyers
* The three pillars of Allocate
How Advisors Use Allocate to Scale 10x Without Adding Headcount (14:18)
* Auto-filled subs, KYC, allocation setup, client mapping
* Helping advisors serve all 150 clients, not just the top 20%
* Improving revenue while slashing operational drag
Unlocking Liquidity: The Biggest Missing Piece of Private Markets (21:16)
* Why secondaries are essential for opening the wealth channel
* Borrowing against private fund positions
* How tech will reduce massive bid-ask spreads
* Why liquidity options will double alt allocations from 5% → 10-30% over time
AI’s Real Role in Private Markets (25:20)
* AI as the intelligence layer for discovery, diligence & personalization
* Uploading 10 fund decks → receiving full breakdowns in minutes
* Why workflows, not chatbots, will unlock trillions
* Execution, payments & portfolio modeling going from days to seconds
The State of Venture Capital in 2025 (32:17)
* Why today’s market is “the extreme Tale of Two Cities”
* AI startups raising at insane velocity vs. great non-AI companies starving
* Why 90% of AI companies won’t justify valuations
* Seed funds getting squeezed by mega-funds writing “option checks”
* How emerging managers can still win (go earlier or niche down hard)
Founder Discipline, Revenue per Head, & the New Efficiency Era (40:06)
* Revenue-per-employee as the new defining KPI
* Why scarcity birthed a healthier generation of founders
* Companies going from 5 → 50 → back to 20 employees
* Running lean with AI as leverage instead of headcount
About Samir Kaji
Samir Kaji is the Co-Founder and CEO of Allocate, a platform revolutionizing how investors access and manage private market investments. With a career in venture banking spanning over two decades at Silicon Valley Bank and First Republic, Samir has an unparalleled view of the venture capital and private equity landscapes. He is also a Kauffman Fellow, the host of the Venture Unlocked podcast, and a personal investor in companies like Carta and Reddit. He remains dedicated to Allocate’s mission of making the private markets as transparent and responsible as the public markets.
Connect with Samir Kaji on LinkedIn: https://www.linkedin.com/in/samirkaji
Visit the Allocate website: https://allocate.co/
Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1
Visit the Ripple Ventures website: https://www.rippleventures.com/
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