Yieldstreet, an online investment platform that provides access to private securities and alternative investments, has announced that co-founder and CEO Milind Mehere will be transitioning to a Senior Advisor position as co-founder Michael Weisz steps into the CEO role. Mehere will continue in his role as a Director on the company’s board.
Yieldstreets said that Mehere and Weisz have “co-led” the investment platform since its founding.
The company said its vision for the platform remains unchanged.
Weisz said the change is a significant moment for the industry, and Yieldstreet is well-positioned to take advantage of the current market opportunities as a leading alternative investment platform for both retail and accredited investors.
“As alternative investments become increasingly mainstream and the category matures, we intend to be at the forefront of further asset class expansion and potential industry consolidation. I am confident we have the right people, technology, and strategic vision in place, and I am incredibly grateful for the many years of Milind’s partnership and friendship.”
Mehere said the time is right for Yieldstreet to be led by a single voice.
“I’m also very excited for my next chapter as a Yieldstreet board member and ongoing senior advisor. Yieldstreet’s future is incredibly bright, and I have every confidence that under Michael’s leadership the Company will reach new heights.”
Yieldstreet reports over 440,000 “members.” The online investment platform provides access to a diverse group of asset classes, including real estate, art, private credit, legal finance and more.
Over $3.2 billion has been invested on the Yieldstreet platform, which currently compares its performance to a traditional stock/bond portfolio as generating superior returns with alternatives. Yieldstreet states that private markets have outperformed public markets in every downturn.
