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Close on the heels of their Series B financing, YieldStreet has acquired Athena for a reported $170m. Athena is a pioneer in the global art finance market, providing art dealers, galleries and collectors access to financing alternatives secured by fine art. Athena has originated more than $225m in loans without any realized losses to date.
This transaction represents YieldStreet’s first corporate acquisition, and comes on the heels of its recently completed $62 million Series B funding, the fifth largest fintech Series B funding round ever completed in New York City. YieldStreet offers retail investors unique access to alternative investments traditionally only available to institutional investors. Investment funds managed by Soros Fund Management LLC initially invested in YieldStreet’s Series A, followed on with an investment in the Series B, and provides warehouse financing for YieldStreet. “They have exemplified what it means to be a fantastic partner to a rapidly scaling business by providing strategic insights and financial support for this acquisition of Athena,” said YieldStreet Founder and President Michael Weisz.
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