NEW YORK, Oct. 11, 2019 /PRNewswire/ -- edly, the income share agreement (ISA) marketplace announced today it recently closed a debt financing round with Variant Investments. New York-based edly will use the funds to facilitate its pioneering ISA programs.
The funding is provided by Variant Investments, an innovator in alternative income investing. Variant was formed in 2017 by three Directors of Research from CTC | myCFO, a firm which pioneered investing in alternatives on behalf of its ultra-high net worth client base.
The Variant Alternative Income Fund, a closed-end interval fund, offers investors efficient access to a diversified portfolio of unconventional income-generating assets. The Fund invests in niche market opportunities with strong cash flow characteristics and low correlations to public equity and bond markets. The Fund is currently on the Schwab, Pershing and TD Ameritrade platforms, among others.
"With bond yields across the risk spectrum back down to the lowest levels in years, many investors are actively seeking income alternatives that are less sensitive to interest rates and credit spreads," said Bob Elsasser, Variant Co-Founder and former central banker. "edly ISAs are an attractive solution for that purpose given our focus on pre-institutional market niches with strong cashflows and uncorrelated returns."
"Financing partners like Variant help us meet demand from schools, student and their families," said edly CEO Chris Ricciardi.
As the only complete ISA funding solution, the edly marketplace offers liquidity to schools through its capital market of funds and accredited ISA investors. edly-listed programs include ISAs from issuers such as Holberton School in San Francisco, V School, Bottega and Advanced Welding School. Pending listings include Sabio, American Diesel Training Centers and Claim Academy.
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For more information, visit edly.info
About edly, Inc.
edly Inc. is the ISA marketplace, connecting accredited ISA investors with ISA issuers such as colleges, skills academies and vocational schools. The company is headquartered in New York.
With one contact point, schools gain access to the entire market of ISA investors through the edly marketplace. And using edly's ISAAC calculator, schools can see how choice of terms relate to the creation of an attractive tuition funding alternative for students. This assists edly in assurance of best execution, quick and easy transactions – no calling around to buyers to shop prices, as edly reaches ready buyers. And schools can easily test the funding terms each month, with certainty of funding – now and in the future, in any amount.
edly was recently named an ISA market visionary by Career Karma. Read their "State of the ISA Market Report-2019" report here
About Variant Investments
Variant Investments, LLC is an alternative income investment manager. To learn more please visit www.variantinvestments.com
The Variant Alternative Income Fund is a continuously-offered, non-diversified, registered closed-end fund with limited liquidity. There is no guarantee the Fund will achieve its objective. An investment in the Fund should only be made by investors who understand the risks involved, who are able to withstand the loss of the entire amount invested and who can bear the risks associated with the limited liquidity of Shares. A prospective investor must meet the definition of "accredited investor" under Regulation D under the Securities Act of 1933.
Important Risks: Shares are an illiquid investment. You should generally not expect to be able to sell your Shares (other than through the repurchase process), regardless of how the Fund performs. Although the Fund is required to implement a Share repurchase program only a limited number of Shares will be eligible for repurchase by the Fund.
An investment in the Fund is speculative, involves substantial risks, including the risk that the entire amount invested may be lost, and should not constitute a complete investment program. The Fund may leverage its investments by borrowing, use of swap agreements, options or other derivative instruments. The Fund is a newly-organized closed-end management investment company that has limited operating history and no public trading of its shares. The Fund is a non-diversified management investment company, meaning it may be more susceptible to any single economic or regulatory occurrence than a diversified investment company. In addition, the fund is subject to investment related risks of the underlying funds, general economic and market condition risk.
Alternative investments provide limited liquidity and include, among other things, the risks inherent in investing in securities, futures, commodities and derivatives, using leverage and engaging in short sales. The Fund's investment performance depends, at least in part, on how its assets are allocated and reallocated among asset classes and strategies. Such allocation could result in the Fund holding asset classes or investments that perform poorly or underperform. Investments and investment transactions are subject to various counterparty risks. The counterparties to transactions in over the-counter or "inter-dealer" markets are typically subject to lesser credit evaluation and regulatory oversight compared to members of "exchange-based" markets. This may increase the risk that a counterparty will not settle a transaction because of a credit or liquidity problem, thus causing the Fund to suffer losses. The Fund and its service providers may be prone to operational and information security risks resulting from breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption, or lose operational capacity.
BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS, A COPY OF WHICH MAY BE OBTAINED FROM (877) 770-7717. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.
Foreside Fund Services, LLC, distributor.
SOURCE edly, Inc.