Turbine Raises $22M to Help VC Investors Unlock Liquidity Without Selling Stakes

Turbine, a fintech startup, secures $22M to offer loans against LP positions in VC funds.
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Turbine Raises $22M to Help VC Investors Unlock Liquidity Without Selling Stakes
Liquidity has always been the Achilles’ heel of venture capital investing. Having your capital tied up for years in long-term VC funds might make sense on paper, but it can quickly become a nightmare when markets shift, expenses arise, or unexpected financial needs pop up. Image:Screenshot(Techcrunch) I recently came across a game-changing startup that tackles this exact problem—and I had to share my thoughts. It’s called Turbine, and it's founded by entrepreneur Mike Hurst, who knows the liquidity dilemma firsthand. After selling his company Exactuals in 2018, he did what many successful founders do: reinvested in venture funds. But the tech crash in 2022 exposed a flaw. His capital was locked up, and the calls for fresh capital didn’t stop. So, what did Hurst do? He built Turbine, a fintech debt platform designed to help limited partners (LPs) access cash without selling their stakes at a discount. How Turbine Works Turbine allows LPs in VC and private equity funds to take out loans…