FIRSTavenue drives innovation within the private markets by making strategic investment in Frictionless Markets

November 2023

LONDON & LUXEMBOURG; NOVEMBER 22, 2023 – FIRSTavenue Partners, a globally regulated placement agent focused on private funds, is excited to announce its strategic investment and partnership with Frictionless Markets. This collaboration signifies a notable shift and focus towards the expansion and democratization of the private markets through the use of digital securities, providing a digital-first issuance and investment experience.

The Luxembourg based, Frictionless Markets offers MiFID 2 compliant fund tokenization services, including issuance, distribution and settlement of digital securities in the private markets. The firm is a pioneer in digital securities and atomic settlement under the blockchain and securitization laws of Luxembourg.

"At Frictionless Markets, our regulatory first and digitally native approach to broadening access to the private markets is a natural fit with FIRSTavenue’s long-term track record. Our combined strengths will unlock huge efficiencies, broadening access for private fund GPs/ Managers, while providing global investors with a venue to invest in the world’s best private credit and infrastructure funds." said Pat Hourigan, CEO & Co-Founder of Frictionless Markets.

"We are delighted to come together and lead the way in the realm of financial technology," stated Paul Buckley, Founder and Managing Partner of FIRSTavenue. "This collaboration perfectly complements our dedication to innovation, and we eagerly anticipate offering our clients access to the state-of-the-art solutions provided by Frictionless Markets."

As part of the strategic investment, Mr Kaz Yasuda, will transition to Frictionless Markets and become Head of Institutional Sales. Mr Yasuda has 26 years of experience in the institutional investment field having most recently served as Managing Director at FIRSTavenue.  

The partnership will initially focus on tokenized fund administration services to institutional clients.

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About FIRSTavenue: FIRSTavenue is a leading independent global placement agent and advisory firm specialising in private credit, real assets, private equity and associated capital solutions. Since the firm’s inception in 2006, it has raised more than $30 billion of capital commitments on behalf of its clients. The firm maintains a global presence via its headquarters in London and offices in New York, Hong Kong and Hamburg, and today consists of over 40 professionals. FAP USA, L.P. is a member FINRA/SIPC. Learn more at


About Frictionless Markets:  Frictionless Markets the pioneer in the issuance digital securities on the Avalanche blockchain and is fully compliant under the Luxembourg Law of 10 August 1915 on commercial companies (as amended), the Securitisation Law of 22 March 2004 (as recently amended) and the Blockchain II Act 2021 as approved by the Luxembourg Parliament on 21 January 2021. Learn more at