September 01, 2020
Dakota Marketplace is an institutional investor and database of RIAs created and maintained by the sales team at Dakota Investments who has used Marketplace to raise over $30 billion. Marketplace consists of a select list of qualified investment allocators across both the Intermediary and Institutional channels. This includes RIAs, MFOs, Family Offices, Bank Trusts, Broker Dealers, Institutional Consultants, OCIOs, Foundations, Endowments, Corporate and Public Pension Funds, Insurance Companies, Fund of Funds plus many more professional investors.
Dakota Marketplace is not a massive data set of 100,000+ accounts and contacts. Instead, it’s a group of investment allocators (about 10,000+ accounts and 34,000+ contacts) that an investment sales professional would want to call on to raise money. We verify that all accounts allocate capital to outside managers, and what’s more, all accounts and contacts are updated daily by our Data team.
Dakota Marketplace is unique because the creators of the database also use the database on a daily basis to raise money, so it’s regularly updated by its own users.
Additionally, Dakota created a system for updating the data in four other ways. The first of which is our Data Team who updates the data daily, guaranteeing it's always current. Next, we use an email bounce technology to identify and remove bad or outdated email addresses; this works in tandem with a service that regularly looks for and adds new email addresses. Finally, we use LinkedIn to see when contacts have changed their LinkedIn profiles, and then make corresponding updates to the contact record within Marketplace.
Intermediary accounts and contacts include RIAs, Multi-Family Offices, Family Offices, Banks, Bank Trusts, Independent Broker Dealers, top Wirehouse Teams, Mutual Fund Sub-advisory and Insurance Sub-advisory.
Marketplace's database of RIAs consists of a highly select group of RIAs, all of whom allocate to outside managers. Dakota has raised over $6 billion from over 360 RIAs and have built a through and robust set of RIAs with all proper contact information. If you market a long-only strategy, close to 100% of Marketplace's RIAs will allocate to your asset class. However, if you market a hedge fund or private equity fund, we have noted in Marketplace which RIAs allocate to hedge funds or private equity, making the sales job much easier for you.
Institutional accounts and contacts include Institutional Consultants, Alternative Investment Consultants, OCIOs, Foundations and Endowments, Public and Corporate Pension Funds, Insurance General Accounts, Fund of Funds, Hospital Endowments and many other specialized institutional pools of capital.
No. At Dakota, we have raised over $10 billion in the Institutional channels, which is in addition to the $20 billion we've raised in the Intermediary channels, making Marketplace data well-rounded and accurate for both the Intermediary and Institutional channels. However, our database of RIAs, as mentioned above, is a highly select list of only the RIAs an investment sales professional should want to call on.
We currently raise capital for a real estate debt fund, a private equity fund and a private credit fund, where we focus on the Institutional channels.
Dakota Marketplace has a different focus. Marketplace is focused on the investment sales professional and how they work. Investment sales professionals need to spend their time setting up meetings, not researching who to call on. We provide the investment sales professional a highly selective, accurate and up-to-date set of investment allocators to call on to set-up meetings. No research required.
Marketplace is built for investment sales professionals who raise capital across all asset classes, including long-only equities and fixed income, hedge funds, alternative strategies of all kinds, and private equity, private real estate, and private credit.
However, investment firms that do not raise money each year, like a private equity fund, can still benefit from Marketplace, as we have a service that syncs our Marketplace data with a company's Salesforce instance, keeping their accounts and contacts updated daily, so when they do need to raise capital, their data is fresh.
Marketplace is $15,500 annually for one user, and $1,000 for every additional user license.
If you are wondering: "what do these questions and answers have to do with me?" I can tell you that as an investment sales professional myself, and as a leader of a nine person investment sales team (Dakota Investments), that accurate, up-to-date, and new leads are the lifeblood of any sales organization. The first big obstacle to any company is establishing their TAM (Total Addressable Market) or finding people that buy what you sell. The bigger the TAM, the more opportunities you have.
So, the key takeaway of Marketplace FAQs is that Marketplace provides investment firms with accurate, up-to-date, and a constantly growing list of people who buy what you sell. This allows your salespeople to focus their time on setting up meetings with qualified buyers, not researching who to call on.
To see if Dakota Marketplace is a good fit for you and your firm, we'd love to offer you a free trial.
Gui Costin is the Founder and CEO of Dakota.
