Prime Meridian Capital Management, a specialist in marketplace lending funds, announced the merger with Poise Lending, LLC, cofounded by veteran tech entrepreneur, Val Katayev and P2P lending portfolio manager Don Davis. The merger unifies the entities and adds a third fund – Poise Lending Fund (a levered P2P fund) – to the growing Prime Meridian family of funds. Mr. Katayev, who is currently the largest individual investor in both Poise and Prime Meridian funds will take on a more active role in the management and oversight of the firm.
Mr. Katayev is a four-time tech entrepreneur who generated over $100 million in profits and exits before ever raising capital from outside investors. He is also one of the most experienced P2P/Marketplace Lending investors in the United States, and was one of the very first lenders at Prosper nearly 10 years ago. After seeing positive returns after the “Great Recession”, he has since invested substantially into the space.
“I’m excited to further cement my relationship with Don Davis as part of Prime Meridian”, said Val Katayev. “Merging our operations and funds under one roof will accelerate the company’s growth and improve the offering to our clients and partners“.
In a recent TechCrunch article called “P2P Lending Is Profitable, Even In A Recession”, Mr. Katayev states that as an early investor in P2P in 2006, he was stunned when his P2P loan portfolio was profitable at the end of the financial crisis of 2008-2010. After doing more research into the asset class as well as other loan data including credit card charge off statistics, he eventually decided to hire Prime Meridian to manage this growing asset in his portfolio.
The Prime Meridian Income Fund, of which Mr. Katayev is the largest individual investor, has provided 42 of 42 months (May 2012 – Oct 2015) of consecutive, positive returns without a loss.
“This merger formalizes and solidifies the longstanding relationship between us”, says Don Davis. “Not only have we added a highly sought after levered fund to the Prime Meridian lineup, but we have also added Val Katayev to the lineup”.
The Poise Lending Fund offers a levered consumer lending strategy that targets higher returns for investors who are comfortable with the asset class and risk/reward associated with a leveraged fund.
The partnership of Mr. Katayev, currently founder and managing member of Poise Ventures and Mr. Davis, founder and managing member of Prime Meridian Capital Management, create a combined wealth of expertise and knowledge in technology, marketplace/P2P lending, and alternative investment management.
Marketplace lending is a term used to define alternative ways of lending, typically through peer-to-peer lending platforms such as Prosper, Lending Club, and Funding Circle. Marketplace lending platforms provide an alternative to banks and traditional lending sources for borrowers, and create new investment opportunities for individual and institutional investors who participate in these platforms. Marketplace lending and P2P (peer-to-peer) lending are essentially synonymous.
To learn more about Prime Meridian Capital Management, its marketplace lending funds, or for insight into the peer-to-peer lending market, visit https://www.pmifunds.com, or contact Don Davis at 925-362-8510.
About Prime Meridian
Prime Meridian Capital Management is an alternative investment manager specializing in marketplace lending including P2P lending and online lending platforms. The Prime Meridian Income Fund specializes in P2P consumer lending while the Prime Meridian Small Business Lending Fund utilizes small business lending platforms, and Poise Lending Fund is a leveraged consumer loan P2P fund. For more information contact Don Davis at 925-362-8510, or visit https://www.pmifunds.com. Prime Meridian Capital Management is an affiliate of Novus Investments, an alternative investment management firm.