Yieldstreet, a private markets investment platform, today announced the successful close of an initial $45 million equity investment as part of its planned $60 million Series D funding round, led by “existing investors Tarsadia Investments, Mayfair Equity Partners, and Edison Partners.”
The capital will be used to fund Yieldstreet’s growth plans and “continue delivering private market alternatives to investors.”
Mitchell Caplan, Interim CEO of Yieldstreet and President of Tarsadia Investments, said:
“Yieldstreet sits at the convergence between private markets and technology, and we have made significant progress in our mission to provide investors with access to more private markets opportunities. With over 500,000 members already trusting our platform, this financing further strengthens Yieldstreet’s financial footing, allowing us to accelerate our plans for growth, enhance our technological infrastructure, and deliver an unrivaled private markets investing experience.”
Caplan replaced founder and former CEO Michael Weisz last month. Weisz continues to be part of the firm’s Board of Directors.
Kunal Dasgupta, Partner at Mayfair Equity Partners, said the decision to participate in the funding round was simple as they hold a strong conviction in the business, and it is just beginning.
Chris Sugden, Managing Partner at Edison Partners, added that private markets are evoling rapidly. In many respects they are replacing traditional access models.
“Yieldstreet’s technology and distribution capabilities create the perfect foundation for connecting investors with premier investments across private markets asset classes.”
With more than 500,000 members, Yieldstreet is reimagining “how wealth is created, helping investors diversify their portfolios with assets spanning real estate, private credit, private equity, art.”
Its platform offers investments across “ten asset classes.” This past April, Yieldstreet teamed up with Upgrade to provide access to private credit for its users.
Yieldstreet provides access to alternative investments previously reserved only for institutions and the wealthy. Since inception in 2015, Yieldstreet has enabled around $6 billion in investments.
Their mission is to help millions of people “generate $3 billion of income outside the traditional public markets by 2025.”
They are committed to making financial products “more inclusive by creating a modern investment portfolio.”
