VPC Specialty Lending Investments, the London-listed investment vehicle, has added a number of loans to its portfolio and is planning to deploy some capital into a fund managed by its own investment manager, Victory Park Capital, the firm said.
After raising £200 million from its initial public offering earlier this month, £35.5 million ($52.5 million; €48.5 million) has now been invested.
The vehicle invests in marketplace lender-originated deals. The portfolio investments made so far include capital deployed via US-based OnDeck, Funding Circle USA (the US subsidiary of the UK small business lending platform) and Upstart Network, an online personal lender launched by ex-Google employees. As well as lending via those platforms, the vehicle also made several balance sheet loans. Borrowers included US-based Applied Data Finance, a consumre lender, Borro, a US and UK-focused lender that secures financing against luxury goods and Kreditech, a German consumer lender that uses algorithms based on a large range of data points to make credit decisions.
The permanent capital vehicle will also commit around £20 million to an existing Victory Park Capital investment fund. The company did not identify which of Victory Park’s funds it would invest in but it said the pooled fund invests in facilities adding that the strategy has already invested in a number of lending platforms.
The £35.5 million in loans combined with the £20 million fund ticket, will mean that VPC Specialty Lending will be almost 30 percent invested in April.
VCP Specialty Lending listed 200,000,000 shares at £1 a share on the London Stock Exchange in March.