💨 Abstract

Turbine, a debt platform for limited partners in private equity and venture capital, has emerged from stealth and raised $22 million in equity funding. The company, founded by Mike Hurst, aims to provide a way for limited partners to borrow funds using their fund stakes as collateral, offering liquidity on the appreciated value of their position in the venture funds. The product has secured up to $100 million in debt from Silicon Valley Bank.

Courtesy: techcrunch.com

Summarized by Einstein Beta 🤖