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VPC Specialty invests £11.7m in Avant Inc

10 April 2015 07:31

VPC Specialty Lending Investments has made a new investment of about £11.7m by way of a balance sheet loan to Avant Inc, Chicago-based financial technology platform offering consumer credit.

Victory Park Capital Advisors, LLC ("Victory Park Capital"), 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's existing $500 million credit facility with Avant.

Following this investment in Avant, the Company will have committed more than 37% of the net IPO proceeds.

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