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Limited partners who invest in the enterprise capital funds have a huge problem, as IPOS slowed the dog a few years ago: a liquidity.
The lack of cash, wealthy people or their small family departments became especially difficult – those who manage the assets of the rich investments in VC funds.
The owner of the funds locked in the venture capital was a great issue for Mike Hurst. Contracts (after the sale of the Bible) in 2018, in 2018, the best part of the exit in 2018 was a good part to technological shares and enterprise funds.
Then the technological shares were crashed in 2022 and said there were no enough free money to support VC fund liabilities in Hurst Techcrunch.
“Firms continued to arrive for capital calls and new investments. I wanted to do them, but I did not want to mortgage, take a margin line when I know $ 210, or purchased a margin line for $ 90.”
This practice has harmed the idea of creating a loan product that allows limited partners to provide funds equipped with its own LP position.
Hurst, Private Capital and VC, looked at a turbid with a debt platform for limited partners. The company goes out of the secret on Friday, and it announces capital financing of capital, which led by Alpha Edison and TTV capital with the participation of finest capital, B capital and SOZO enterprises.
The company lends up to $ 100 million from the Silicon Valley Bank to give a loan from the Silicon Valley Bank.
Turbine uses a number of lines using a home capital line home value or margin line to provide a way to use stock shares using limited partners using stock distributions.
Gardiner Garrard, The co-founder and managing partner in the TTV capital immediately said that he was thrilled from the turbid when he immediately hit him.
“A lot of things that an LP approached me, asked about liquidity,” Garrard said. However, I did not have a great choice to help a single investor in a single investor.
Garrard explained that the second employee market could sell a stock in a portfolio company in the second employee market, but only did not want to sell an asset to serve the needs of an LP.
Alternatively, LP could try Sell their shares The Fund (Foundation) has “There are significant discounts,” he said.
The turbine claims the liquidity of investors’ liquidity on the assessment of the positions of the enterprise without refusal. For example, if an investment of an investment in a LP increased by $ 10 million in a fund, they can use $ 10 million worth of estimates for loans.
The industry is that these loans are not cheap. The interest rate is currently 9% (the main rate is currently 7.5%, many credit these days are not cheap).
However, Garrard claims that this can still be considered to “sell more and very cheap and very cheap and very cheap” in recycled markets, even discounts or even discounts.
Turbine’s first customers are five enterprises that support the removal of the capital. The general partners of these companies are already offering LPS’s loan loan, Hurst, after today’s announcement, he said he planned to present his product to more VC funds.
“Garrard,” I could not believe that I did not have anything like this for our LPs, “he said.
