# Turbine Finance

> Turbine is a Santa Monica fintech that lends money to venture capital and private equity investors against the fund positions they already own. Instead of selling a stake in the secondary market at a steep discount, limited and general partners can borrow against the value of their holdings and keep the upside. The company uses machine-learning underwriting to price these positions in days rather than months, and came out of stealth in April 2025 with $121.75 million in combined backing, including a $100 million warehouse facility from Silicon Valley Bank.

- **Founded:** 2022
- **Headquarters:** Santa Monica, California, United States
- **Founders:** Mike Hurst (CEO & Co-Founder), Peter Andes (Co-Founder), Rob Freelen (Co-Founder), Kaare Wagner (Co-Founder)
- **Team size:** 26 employees
- **Products:** Asset-backed lending platform, Machine-learning underwriting engine, Borrower portal, GP / fund partnership program
- **Notable:** Emerged from stealth in April 2025 with $121.75M in combined equity and debt backing., Secured a warehouse facility of up to $100M from Silicon Valley Bank at launch., Underwrote approximately 60 venture funds before its public launch.

## Products & services

- **Asset-backed lending platform** — Credit facilities that let limited partners and general partners borrow against the value (NAV / unrealized gains) of their venture and private equity fund positions, accessing cash while keeping ownership and upside.
- **Machine-learning underwriting engine** — A data-science underwriting system that analyzes fund performance data and collateral to price positions in days rather than the months manual diligence typically takes.
- **Borrower portal** — A secure portal where GPs and LPs view borrowing power based on current fund NAV and apply for a loan in minutes.
- **GP / fund partnership program** — Partnerships with fund managers to make lending available across their entire GP and LP community, including capital-call financing and leverage for new commitments.

## Achievements

- Emerged from stealth in April 2025 with $121.75M in combined equity and debt backing.
- Secured a warehouse facility of up to $100M from Silicon Valley Bank at launch.
- Underwrote approximately 60 venture funds before its public launch.
- Built a pipeline of 160+ firms representing more than $500 billion in AUM.
- Raised a $13M Series A co-led by Alpha Edison and TTV Capital.

## Latest updates

- **2025-04** — Turbine emerged from stealth with $121.75M in total backing, including a $13M Series A and a $100M Silicon Valley Bank warehouse facility.

## Links

- Website: https://www.turbine.co
- LinkedIn: https://www.linkedin.com/company/turbine-finance

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Profile page: https://yespress.io/turbine-finance
Published by YesPress — https://yespress.io
Last updated: 2026-08-20