Tuesday, June 7, 2016

Renovo Financial Boosts Lending Platform with Additional $25 million Investment from Victory Park Capital; Firm on course to complete $150 million in lending for 2016

Kevin Werner
 CHICAGO, IL (June 7, 2016) — Chicago-based Renovo Financial, a residential real estate investment lender, announced it has closed an incremental $25 million commitment from Victory Park Capital (VPC), an investment firm focused on private middle-market debt and equity investments.

 This latest commitment brings VPC’s total investment in Renovo Financial to $75 million since 2015.

Founded in 2011 in partnership with Chicago-based private equity firm Granite Creek Partners, Renovo Financial is one of the nation’s fastest-growing private lenders, increasing its volume from $500,000 in lending in 2011 to a projected $150 million for 2016. 

Unlike traditional lenders that can take up to 60 days to close, Renovo Financial’s structure enables it to deliver a 10-day-closing guarantee on short-term acquisition and construction loans, as well as long-term financing for rental properties.

“The additional $25 million investment from VPC strengthens our ability to service what continues to be an underserved market of real estate investors,” said Kevin Werner, CEO at Renovo Financial. “We’ve demonstrated to our partners at VPC and Granite Creek that our hands-on approach to lending is an effective way to achieve long-term success.”

For a complete copy of the company’s news release, please contact:

Julie Liedtke, jliedtke@taylorjohnson.com, (312) 267-4521

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

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