LOS ANGELES--(BUSINESS WIRE)--Troy Capital Group (“TCG”) and an affiliate of funds managed by Oaktree Capital Management, L.P. (“Oaktree”) today announced the launch of a $200 million fund that will provide liquidity to employees and investors of Pre-IPO private companies.
TCG’s loan product will provide private companies, employees and early investors with non-recourse loans backed solely by their company’s stock, enabling those people to retain ownership and the potential upside of their shares.
TCG was founded by Josh Berman (co-founder of MySpace), Samit Varma (former partner of Anthem Ventures) and Brian Sullivan (co-founder of ForwardLine), in partnership with Oaktree, a leading global investment firm. The fund’s leadership combines over six decades of technology industry experience with Oaktree’s decades of lending and capital markets expertise as well as success helping emerging specialty finance companies scale their business.
“We are excited to partner with Oaktree to provide a compelling alternative for employees and investors of private companies who want access to liquidity without giving up the ability to realize the long-term potential upside of their shares,” said Samit Varma, Co-Founder of Troy Capital Group. “As former operators of private technology companies, we understand the large and growing demand for early access to loans or liquidity, particularly as large, private technology companies stay private longer than ever. TCG’s offering provides an attractive solution for the many loyal and committed tech employees who want to be able to tap the value of their stock, but over the long-term want to keep their upside and stay closely aligned with their colleagues and leadership teams at these fast-growing, dynamic companies.”
Brian Laibow, Managing Director at Oaktree, said, “Josh, Samit and Brian have a breadth of knowledge and experience from leading technology companies, and we are thrilled to partner with them on this exciting opportunity. We believe TCG’s product addresses a critical unmet need at private tech companies for immediate access to liquidity, long-term value creation and employee retention.”
Troy Capital Group formed in late 2017 and has already begun to offer its loan product to employees and shareholders of many large private tech companies. For more information, please visit: www.troycapgroup.com.
About Troy Capital Group
Troy Capital Group (TCG) is the largest institutionally backed loan-based liquidity solution. TCG has a commitment to streamlining & simplifying the liquidity process for shareholders from top technology companies. TCG is backed by an affiliate of funds managed by Oaktree Capital Management, L.P. and is based in San Francisco & Los Angeles. For more information about Troy Capital Group, please reach out to info@troycapgroup.com.
