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LEONID Closes Latest Capital Round to Fund Originations in Ground Breaking Government Contract Financing Strategy

·2 min read

HUNTINGTON BEACH, Calif., Sept. 14, 2022 /PRNewswire/ -- LEONID, a Department of Defense Trusted Capital Provider, is pleased to announce the closing of its latest Special Purpose Vehicle (SPV), LEONID Capital Management SPV 2, with the funds raised to be exclusively used for originations under the Company's unique Government Contract Financing model.

LEONID (PRNewsfoto/LEONOID)
LEONID (PRNewsfoto/LEONOID)

Raised from both existing investors and new, strategic investors, the SPV closed within four weeks of launch, and is already 100% deployed or committed to immediate-term pipeline.

"Our ability to raise and deploy capital in a rapid fashion is becoming the hallmark of our growing organization," said LEONID Founder, Christopher Lay. "The new investors coming in are wonderful to have, but the real feather in our cap was the roster of our existing investors that came back for a second and larger bite."

The projected portfolio yield on the SPV holdings is well above target, includes six different US Government Prime Contracting clients, ten individual contracts, and eight different Federal payors.

"To be able to achieve such a wide diversification, while maintaining yields and capital deployment targets is a defining goal of our strategy," added LEONID Co-founder James Parker. "We love the headline of 'Federal Government as loan security', but it is important to realize there are thousands of different Government departments and offices, and hundreds of thousands of contractors in our target niche."

LEONID offers true government contract financing in the form of term loans and revolving lines of credit, based on the full, future value of contracts. With this successful close and deployment, LEONID has begun raising into its third SPV with a targeted close of Oct 31st, 2022.

About LEONID

LEONID is the leading financial services platform supporting U.S. Federal Government contractors. As an official Department of Defense Trusted Capital Provider, LEONID offers advance financing on all government contracts, including SBIR and STTRs, up to $25MM. The firm can help companies improve their working capital position to help finance growth strategies and manage operating expenses. LEONID contributes 50% of net profits to mission-oriented charitable causes that are committed to veterans' causes and warfighter support. Learn more at leonidfinance.io.

Cision
Cision

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SOURCE LEONID