Clearstone Capital Partners LLC, secures up to $21 million of financing from Arena Investors, LP
23 Mar, 2021, 16:00 ET
LOS ANGELES, March 23, 2021 /PRNewswire/ -- Arena Investors, LP, a New York-based asset manager, has entered an agreement with Clearstone Capital Partners LLC, a specialty e-commerce company that operates the Venue.com platform, under which they will be providing up to $21 million of financing. This credit facility will provide Clearstone with capital to accelerate its growth and significantly expand the range of financial products that it can offer.
"We are pleased to be able to partner with Clearstone and its proven management team to enable it to accelerate the scaling of its business by increasing its customer base and sales," said Vivek Nayar of Arena Investors. "This in turn will enable both of our organizations to generate attractive financial returns."
"We appreciate Arena's support, their combination of strategic expertise and ability to understand our business and quickly craft a thoughtful capital solution for our company made this a natural fit for us as we seek to continue our growth trajectory. This credit facility will provide us with a robust level of liquidity and flexibility, allowing us to further expand our financial product offerings and reach, ultimately benefiting our customers, employees and other stakeholders." said Ron Drori, Clearstone's Chief Executive Officer.
In addition to providing financing, Arena will appoint three members to Clearstone's Board of Directors: Vivek Nayar, Vincent DeVito and James Zhang.
About Arena Investors, LP
Arena Investors is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With $2.2 billion of committed assets under management as of January 1, 2021, and a team of over 60 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.
About Clearstone Capital Partners LLC
Clearstone operates Venue.com, a premium retail marketplace featuring brand name products from leading retailers offering competitive pricing and alternative payment solutions for online shoppers through its proprietary lending tree.
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SOURCE Arena Investors, LP
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