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Alternative Market Briefing

YieldStreet closes $113m financing round

Friday, January 12, 2018

Bailey McCann, Opalesque New York:

-YieldStreet, an alternative investment platform has closed a $113 million financing round. The round includes $12.8 million of Series A equity financing co-led by Greycroft and Raine Ventures, as well as a revolving credit facility of $100 million from a New York based family office. Additional equity investors include Saturn Ventures, Expansion Venture Capital, the Family Office and FJ Labs.

Yieldstreet is an asset backed securities platform that allows accredited investors to invest directly in loans and other ABS vehicles.

Alan Patricof, co-founder of Greycroft founder of Apax Partners, will join the YieldStreet advisory board. Ian Sigalow of Greycroft, Gordon Rubenstein of Raine Ventures and a representative from the Family Office will join YieldStreet's board.

The raise comes as YieldStreet reached a tipping point in 2017, almost tripling prior year originations and surpassing $250 million raised by retail investors at the end of the year.

"This funding will enable us to bolster our machine learning and data analytics capability for predictive underwriting models, launch new products for non-accredited investors and further fuel our growth towards our mission. I am excited to work with this strong syndicate of investors who understand this opportunity," said Milind Mehere, CEO of YieldStreet in a statement.

The $100 million revolving credit facility will allow YieldStreet to continue to scale its pipeline of in......................

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