Turbine Finance Corp., a Santa Monica, California-based liquidity platform driven by data science that provides credit facilities to venture investors, raised $13m in Series A funding.
The round was co-led by Alpha Edison and TTV Capital and joined by Fin Capital, B Capital, and Sozo Ventures. This investment, in addition to the company’s previously unannounced $8.75m in Seed funding, brings Turbine’s funding raised to $21.75m.
The company also announced it has secured up to a $100m warehouse facility from Silicon Valley Bank (SVB), a division of First Citizens Bank, to provide general partners and limited partners the option to borrow against their existing fund investments.
The warehouse facility, combined with Turbine’s Seed and Series A funding, brings the company’s total financial backing to $121.75m.
The equity capital will be used to fully deploy its warehouse line as well as expand the company’s data science team.
Led by Mike Hurst, Founder and CEO, Turbine Finance is a liquidity platform driven by data science working to unlock $13 trillion in capital currently stored in LP and GP positions globally. With its lending platform, private equity and venture firms can offer LPs access to the value of their portfolio investments without reducing exposure to these positions. LPs will also have the option to leverage existing investments to make new commitments – to new fund vintages or SPV allocations – and to fulfill capital calls for existing commitments. Turbine partners directly with firms to underwrite and secure portfolios, allowing for cost-effective lending. Turbine’s underwriting platform leverages machine learning and data science to complete months of manual processes in days. Data insights produce accurate and insightful results on fund performance and monetary value for underwriting teams.
FinSMEs
07/04/2025