VPC Specialty Lending Investments has made a new investment of c£11.7m by way of a balance sheet loan to Avant, Inc., a Chicago-based financial technology platform offering consumer credit.
Victory Park Capital Advisors, LLC, the Company’s investment manager, has been an early financial partner of Avant since it began offering consumer credit in early 2013. The Company’s investment utilises part of the available capacity under Victory Park Capital (the manager)’s existing $500m credit facility with Avant.
They say that, following this investment in Avant, they’ll have committed more than 37% of the net IPO proceeds.
Avant was founded in 2012 and has a loan portfolio in excess of $500m with customers in the US and UK.
VSL : VPC Specialty Lending Investments invests in Avant