Apollo Global Makes Seven-Figure Investment in Plume Network
Apollo Global Management has invested in Plume Network, a company focused on tokenizing real-world assets (RWAs). The investment, worth over seven figures and made through funds managed by Apollo, will help Plume grow its ecosystem, according to a Tuesday statement.
Plume Network operates as a modular, Ethereum Virtual Machine (EVM)-compatible Layer 2 network for RWAs. The platform already claims its testnet hosts over 18 million wallets. This funding follows Plume's $10 million seed round led by Haun Ventures about a year ago and a recent investment of an undisclosed amount from YZi Labs.
Christine Moy, partner and head of digital assets at Apollo, explained the investment aligns with Apollo's strategy to support technologies that expand access to institutional-quality products. She noted the growing trend of private assets and funds moving on-chain, describing Plume as infrastructure focused on digital asset utility and investor engagement.
Apollo Global Management is among the world's largest asset managers with over $700 billion in assets under management. As interest in tokenized real-world assets grows, Plume has worked to build connections across both traditional finance and digital asset sectors.
Plume aims to offer investors opportunities to own various tokenized assets including:
- Equities
- Solar assets
- Collectibles
- Luxury goods
- Real estate
The company plans to launch its mainnet in the coming weeks, as announced last month. Total value locked in RWA protocols exceeded $10 billion last month, according to DefLlama data.
Teddy Pornprinya, Plume co-founder, stated that the challenge isn't simply getting assets on-chain but making them useful within the crypto economy. He explained that Plume creates an environment where asset issuers can connect to liquidity, community, and distribution to generate value in new ways.
The investment comes amid significant growth in the RWA market, which reached over $19.6 billion in early April, up from $17 billion in February. Industry experts project RWA market capitalization could reach $50 billion by the end of 2025, reflecting growing institutional interest in asset-backed digital products as protection against market volatility.
