# Abdul Al-Asaad

> Abdul Al-Asaad is the co-founder and CEO of Basic Capital, a New York fintech modernizing the 401(k) by letting savers finance their retirement investments. Born in a Palestinian refugee camp in Syria, he won a scholarship to a boarding school in the Netherlands at 16, studied in the US, then worked on Goldman Sachs' leveraged finance desk before Harvard Business School. There, in 2021, he pitched Bill Ackman on giving everyday people the same borrowing power institutions use to invest. Ackman became his first backer. Basic Capital emerged from stealth in 2025 and closed a $25 million Series A led by Forerunner and Lux Capital, offering roughly $4 of financing for every $1 saved.

- **Role:** Co-founder and CEO at Basic Capital
- **Organizations:** Basic Capital, Goldman Sachs, Institute for New Economic Thinking
- **From:** Palestinian refugee camp, Syria
- **Education:** Boarding school (full scholarship, entered at 16), United World College (Netherlands), Undergraduate, Skidmore College, MBA (Robert Kraft Scholar, Arthur Rock Fellow), Harvard Business School
- **Known for:** Founded and leads Basic Capital, the first 401(k) platform to let participants finance assets and access alternative investments, Raised a $25 million Series A in August 2025 led by Forerunner and Lux Capital, Recruited Bill Ackman as his first investor while still a Harvard Business School student

## Career timeline

- **~2011** — Wins a scholarship at 16 to attend United World College boarding school in the Netherlands
- **—** — Recruited to Skidmore College in the United States
- **—** — Joins the leveraged finance desk at Goldman Sachs
- **—** — Publishes research on credit cycles at the Institute for New Economic Thinking
- **2021** — As a Harvard Business School student, pitches Bill Ackman on financing investments for everyday people; Ackman becomes his first investor
- **2023** — Basic Capital raises a seed round led by Lux Capital
- **2025** — Basic Capital emerges from stealth
- **2025-08** — Basic Capital closes a $25 million Series A led by Forerunner and Lux Capital

## Achievements

- Founded and leads Basic Capital, the first 401(k) platform to let participants finance assets and access alternative investments
- Raised a $25 million Series A in August 2025 led by Forerunner and Lux Capital
- Recruited Bill Ackman as his first investor while still a Harvard Business School student
- Named a Robert Kraft Scholar and Arthur Rock Fellow at Harvard Business School
- Built a platform offering 6,000+ investment options with embedded brokerage and financing

## Latest updates

- **2025-08** — Basic Capital closed a $25 million Series A led by Forerunner and Lux Capital, with backing from SV Angel, Box Group, Henry Kravis, HOF Capital, and Inspired Capital.
- **2025-05** — Basic Capital's leveraged 401(k) and private-credit model was profiled by Bloomberg and Wealth Management.

## Links

- Website: https://basiccapital.com
- LinkedIn: http://www.linkedin.com/in/abdul-alasaad
- Twitter/X: https://x.com/Abude_al_asaad

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Profile page: https://yespress.io/abdul-al-asaad
Published by YesPress — https://yespress.io
Last updated: 2026-08-06