The Online Community for Culver City – The New Scene
On September 10th, Culiver City-based AssetAvenue celebrated their launch party at Edge Grip Studio at 1388 S. Longwood Avenue. AssetAvenue is a leading online peer-to-peer lending platform providing individuals with fixed income investments in loans secured by commercial real estate, while providing property owners and lenders with quick access to capital to fund their loans. The event attracted 300 VIPs from the finance, real estate and entertainment industries to mark AssetAvenue’s $3 million seed funding announcement.
Pictured Above: Anil Chachra, Morgan Stanley; Sonya Chapnick; and Adam Chapnick, AssetAvenue
Pictured Above: Chris Ganan, AssetAvenue; Arthur Law, Vectr Ventures; Arnold Law, Renaissance Style; Brian Edson, The Cherry Party; Edward Ahn, Merrill Lynch; and Jarrett Ganan, Nigro Karlin Segal Feldstein & Bolno, LLC
Pictured Above: Mitchell Amsler, Meyer Shaffer; Russ Meyer, Meyer Shaffer; and David Manshoory, AssetAvenue
Pictured Above: Yaniv Mizrahi; Alexa Mizrahi, Lone Oak Fund; and David Manshoory, AssetAvenue
Pictured Above: Tom Linovitz, Cratus Equity and Jonathan Littrell, AssetAvenue
FOR IMMEDIATE RELEASE
AssetAvenue Raises $3 Million in SEED Funding
Led by Matrix Partners and NetEase Capital, Funding will Accelerate Growth for AssetAvenue,a Leading Peer-to-Peer Lending Platform for Commercial Real Estate
LOS ANGELES, CA -–AssetAvenue ,a leading online peer-to-peer platform to invest and borrow money in commercial real estate, today announced it has raised $3 million in funding. Matrix Partners and NetEase led the round with additional investors from the technology, venture capital and real estate industries participating.
AssetAvenue will use the seed round funding to accelerate strategic partnerships with lenders, fuel the continued growth of its institutional and accredited investor base, and build upon its proprietary lending platform.
“We are thrilled to have such an incredible caliber of investors supporting AssetAvenue’s mission to revolutionize the real estate investment industry by removing the barriers that have traditionally prevented individuals from investing in lucrative commercial real estate opportunities,” said David Manshoory, founder and CEO of AssetAvenue.
Investors include Matrix Partners , a global venture capital company responsible for backing powerhouses like Apple, Gilt Groupe, JustFab, Oculus VR, and Zendesk; NetEase, one of the largest publicly traded internet and technology companies in China; Vectr Ventures, a Hong Kong based early stage venture capital fund; Russ Meyer, a private equity advisor and founding director of Grandpoint Capital; Bam Ventures, a venture capital fund headed by Brian Lee, founder of LegalZoom, ShoeDazzle and The Honest Company; and Launchpad LA, a Los Angeles based start-up fund and accelerator.
"AssetAvenue is the most compelling real estate crowdfunding platform available today,” said Josh Hannah, General Partner of Matrix Partners. "The management team’s deep experience and clear focus in the real estate debt market sets it apart from the competition and we believe it will grow to become the largest player in the commercial real estate peer to peer lending space.”
“We are thrilled to team up with Asset Avenue as they continue to re-invent real estate financing,” said Benjamin Ha, Managing Partner of NetEase Capital. “The real estate financing market has not kept up with the pace of other consumer technology innovations and we believe David and his talented team are well positioned to create the leading peer-to-peer real estate lending platform.”
AssetAvenue is led by CEO David Manshoory , an executive with more than ten years of proven success in start-ups and commercial real estate investing. His previous venture grew to more than 100 full-time employees within 15 months, raised over $11 million in investor capital, and generated almost $30 million in revenues in its first two years. The company’s leadership team includes Adam Chapnick, Chief Strategy Officer , a former principal at Indiegogo and a globally recognized thought-leader on crowdfunding; Kevin Arrabaca, President of Real Estate Investments , who previously held management and officer positions at American Capital Realty and Colony Capital, and has underwritten over 3,000 real estate assets; and Chris Ganan, President of Institutional Investments, who has over a decade of real estate experience sourcing and structuring joint ventures and funds with private equity, hedge fund, and high net worth foreign and domestic investors.
For more information, please visit:www.assetavenue.com.
AssetAvenue is a leading online peer-to-peer lending platform providing individuals with fixed income investments in loans secured by commercial real estate, while providing property owners and lenders with quick access to capital to fund their loans. AssetAvenue partners with lenders and borrowers to source loan investment opportunities up to $10 million, and individuals can invest with as little as $5,000. Family offices and institutional investors can also elect to participate in AssetAvenue’s Whole Loan Program. The company’s best-in-class real estate team meticulously vets each loan opportunity before presenting them to members. Visit AssetAvenue.com to learn more.
Suzie Linville, Allison+Partners