YieldStreet, a NYC-based alternative investment platform, closed a $113m financing round.
The round included:
– $12.8m of Series A equity financing co-led by Greycroft and Raine Ventures, with participation from Saturn Ventures, Expansion Venture Capital, the Family Office and FJ Labs, as well as
– a revolving credit facility of $100m from a New York based family office.
In conjunction with the funding, Alan Patricof, co-founder of Greycroft, will join the YieldStreet advisory board. In addition, Ian Sigalow of Greycroft, Gordon Rubenstein of Raine Ventures and a representative from the Family Office will join YieldStreet’s board.
The company intends to use the equity capital to accelerate further product innovation and grow its loyal community of investors. The revolving credit facility will allow YieldStreet to continue to scale its pipeline of investments, pre-fund originations, and expand its offering to new asset classes and investment vehicles.
Led by Milind Mehere, CEO, YieldStreet provides access to asset based investments historically unavailable to most investors. The platform allows users to participate in investment opportunities with low stock market correlation and target yields of 8-20%, across litigation finance, real estate and other alternative asset classes.