Crestline Investors, Inc. (“Crestline”), a leading provider of fund liquidity solutions, has successfully completed a $64 million Net Asset Value (“NAV”) loan to a premier European venture capital firm (the “Borrower”), committing €45 million directly to the transaction. The firm’s investment strategy is focused on high-growth sectors including fintech, health tech, consumer-enabled SaaS, mobility, and edtech.
The collateral supporting the facility is highly diversified, comprising over 75 underlying investments—including both direct and fund-level positions—spanning a broad range of technology subsectors and various stages of development and maturity.
This Crestline-led NAV loan will refinance the Borrower’s existing facility at more favorable terms, while also supporting continued capital deployment into portfolio companies and advancing a pipeline of near-term, pre-identified exit opportunities. By opting for a NAV-based solution, the Borrower was able to access flexible, non-dilutive capital, enhancing its ability to capture value across its investment pipeline and maintain strategic momentum in a dynamic market environment.
“Project Bullseye is an example of our ability to thoughtfully underwrite large, complex portfolios of venture and growth equity assets. We believe these sectors have faced persistent exit headwinds in recent years, often penalizing fundamentally strong investments. Through our own deep, asset-level diligence, we gained conviction in the sponsor’s valuation marks, investment and growth strategies, and projected monetization paths across the portfolio. We believe there is a compelling opportunity to provide NAV loans to these asset classes when supported by rigorous valuation analysis, credible liquidity paths, and a disciplined underwriting approach” said Dave Phillipp, Partner and Head of Fund Liquidity Solutions.
With a strong track record in NAV-based lending and a commitment to delivering tailored, capital-efficient solutions, Crestline remains an experienced partner for funds navigating today’s evolving private markets.
About Crestline Investors
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
This financial promotion is issued by Crestline Management, LP and Crestline Europe, LLP (together "Crestline"). Crestline Europe, LLP is authorized and regulated by the Financial Conduct Authority (FCA). The material is not intended to be a formal research report and nothing in this presentation should be interpreted to state or imply that past results are an indication of future performance. Any opinions expressed herein are our current opinions only. There can be no assurance or guarantee that Crestline's investment strategy will achieve its stated goal. All information provided in this presentation is for informational purposes only Crestline accepts no liability for loss arising from the use of this material. In the United Kingdom, this communication is being made only to, or directed only at, persons who are: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FP Order”); (ii) high net worth companies and certain other entities falling within Article 49 of the FP Order; or (iii) any other persons to whom such communication may lawfully be made. It must not be acted, or relied, upon by any other persons.
