FUNDRAISING NEWS | November 25, 2024
Philadelphia-based investment manager and RIA Newmarket Capital said it has launched a new bitcoin-based asset management and specialty finance platform, Battery Finance.
Battery will employ a specialty lending strategy combining traditional financeable assets such as real estate and project finance with bitcoin, merging the assets into a single collateral package. To that end and in tandem with the launch of Battery, Newmarket said it completed its first investment combining bitcoin and real assets, providing term financing on a mixed-use real estate project called “Bank Street Court” in Philadelphia.
"Our lending approach can serve to counterbalance inflation and monetary debasement,” Newmarket founder and CEO Andrew Hohns said in a statement. “By strategically combining measured amounts of bitcoin with real assets, Battery unlocks new combinations of value for borrower and lender alike.”
