The Mortgage Collaborative’s Emerging Technology Fund announces investment in Maxwell
[ad_1]
The Mortgage Collaborative announced today the first investment of its recently launched TMC Emerging Technology Fund LP, or TMC Fund. The venture capital program is funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.
The investment is a participation in Maxwell’s Series B Preferred Share financing which was led by Fin Venture Capital and TTV Capital. According to TMC Executive Chairman Jim Park, TMC was fortunate to be invited into this over-subscribed round because of Maxwell’s recognition of the potential strategic value TMC’s Emerging Tech Fund could bring to Maxwell, in addition to its financial investment.
“More than the financial investment, we’re looking forward to the strategic value the TMC Emerging Tech Fund’s limited partners will add to Maxwell as the mortgage industry evolves,” said John Paasonen, Maxwell co-founder and CEO. “Their investment has brought forward-looking mortgage companies around the table who will accelerate the impact our solutions will have in the market.”
“This transaction is a terrific foundational investment for the TMC Fund because of the demonstrated commercial success of Maxwell, the high caliber of their management team, and the quality and breadth of the syndicate,” said Sandy Selman from Asia West Inc., the Fund Manager of the TMC Fund. It puts us on the map and creates the strategic context for our deal pipeline well into 2021. We look forward to working with the Maxwell team to help them realize their commercial goals.”
TMC’s Emerging Technology Fund is actively looking at investment opportunities that will result in higher profitability and business process improvements for TMC members.
The post The Mortgage Collaborative’s Emerging Technology Fund announces investment in Maxwell appeared first on HousingWire.
[ad_2]
Source link