Led · Equity · Mar 2023

Probus Smart Things builds integrated hardware and software solutions for utility providers, with products focused on smart meters and last‑mile grid digitization. The company says it has deployed over half a million smart‑meter products across four geographies and has doubled its team. In the last 12 months Probus reported eightfold revenue growth and profitability at the PAT level. The freshly raised funds will be used to strengthen product R&D, expand the team, and grow go‑to‑market partnerships with ecosystem partners. Management cites the Indian government’s large smart‑meter mandate as a market opportunity and plans to expand further in India. Probus also intends to launch operations in MENA and Southeast Asia over the next 12–18 months.

Led · Equity · Mar 2023

Probus Smart Things develops an end-to-end IoT platform and integrated hardware and software to help utility providers digitize distribution grids and gain visibility into their networks. The company supplies smart meters and communications networks and recently launched a wireless-sensor product for monitoring solar module production efficiency. In the past 12 months Probus reports 8X revenue growth and has achieved profitability at the PAT level. It has deployed over half a million smart meter products across four geographies and has doubled its team size. Probus plans to use new funding to strengthen product R&D, expand the team, and grow go-to-market partnerships. Over the next 12–18 months it intends to expand further in India and launch operations in MENA and SEA, and aims to grow revenues 6X and double headcount in 18–24 months.

Participated · Series A · Jun 2021

Harness Wealth is a digital platform focused on financial, tax, and estate planning that connects clients with a roster of vetted advisors and advisory firms. Its product suite includes Harness for Advisors, which bundles advanced software, an in-house concierge team, practice-management tools, lead generation, and a professional community to streamline tax advisory practices. Clients access personalized tax and financial advice through a user-friendly portal with document sharing, payments, onboarding, and access to pre-vetted estate and financial advisors. The company says it has onboarded thousands of clients onto its new portal and expects that figure to triple this year. Harness targets the $10B+ tax advisory market and the $50B+ financial advisor segments, and monetizes via fees from both advisors and clients for software and services. After the recent raise, the company is focused on product enhancements and building insights around tax data while describing itself as well-capitalized. Harness Wealth is a New York–based startup that offers a platform bringing family-office–style services to individuals with complex financial pictures. It matches clients with independent registered investment advisors and connects them to teams across verticals — tax, estate and investment planning — to replicate the multidisciplinary access of a family office. Harness charges an ongoing revenue share, collecting part of the fees advisers on its platform charge to align incentives with long-term client success. The company employs 22 people and is not yet profitable. Part of its new capital will be used to build a captive tax business, Harness Tax, to address time-sensitive tax planning around IPOs, SPACs, remote work and cryptocurrencies. Founders David Snider and Katie Prentke English drew on experience at Bain, Compass and Nutmeg and have grown a customer base that includes employees of Coinbase, UiPath, PayPal, Snowflake, DoorDash, Amazon and partners at venture firms. Harness Wealth offers a hybrid digital-human platform that builds personalized balance sheets and matches clients to a curated set of top tax, financial, and legal advisors via proprietary technology and comprehensive needs assessments. The company targets accomplished individuals with $250K–$10M in investable assets and cites a U.S. addressable market of 20M households that spend $80B annually on financial, tax and legal professional services. Its adviser diligence process collects 40+ attributes per advisor and 100+ attributes per firm to ensure tailored recommendations. The business model takes a minority percentage of an adviser’s standard fee for referred clients. Harness Wealth is developing additional client tools and technology to enhance the digital experience and is working to onboard users from its waitlist. Financially, the company recently closed a $4M Seed round to support product and growth initiatives.

Participated · Series A · Jan 2018

Yieldstreet operates a technology-driven private markets investment platform offering access to alternative assets across ten asset classes, including real estate, private credit, private equity, and art. The company reports having over 500,000 members using its platform. Yieldstreet closed an initial $45 million equity investment as part of a planned $60 million Series D to fund growth and continue delivering private market alternatives. Management says the new capital will be used to accelerate growth plans and enhance the company’s technological infrastructure. Investors and partners highlighted Yieldstreet’s distribution and platform capabilities as core strengths. The financing is described as strengthening Yieldstreet’s financial footing as it expands private markets opportunities for investors. Yieldstreet operates an online marketplace that lets eligible retail investors access private-market alternatives such as real estate, private credit, private equity, art and other asset classes. The company creates funds and products with lower minimums to widen access to investment strategies that were previously mostly available to institutions and ultra-wealthy individuals. Yieldstreet emphasizes partnerships with asset managers, sponsors, and originators to source diversified opportunities across litigation finance, small business, consumer, private funds and real estate. Founded in 2015 and headquartered in New York City, Yieldstreet has attracted more than 400,000 users and over $3 billion in funding on its platform to date. The company positions itself to scale its product suite and increase the number and scope of offerings for its investor base. Management says additional capital and financing capacity will accelerate deal flow and platform growth. Yieldstreet is a multi-asset alternative investment platform that gives retail investors access to alternative investments previously reserved for institutions and ultra-high-net-worth individuals. Its technology platform offers products across asset classes including Real Estate, Commercial, Consumer, Art, Marine, Legal Finance and Aviation. Since its foundation in 2015, Yieldstreet has funded over $2.5 billion of investments and has over 325,000 members on its platform. The company is headquartered in New York City and has offices in Brazil, Greece and Malta. Yieldstreet plans to use new capital to advance its technology roadmap, expand sales and marketing capabilities, and grow its international distribution. Its stated mission is to help millions generate $3 billion of income outside the traditional public markets by 2025, and it is backed by venture capital firms, large family offices and private equity investors. Yieldstreet operates an online marketplace that fractionalizes institutional-style, asset-backed investments (real estate, art, marine/shipping, legal finance, commercial loans) for retail investors. The company has funded nearly $1.9 billion on its platform and reports about 300,000 consumers signed up, up from roughly 100,000 in February 2019. Since inception it says it has provided nearly more than $950 million in principal and interest payments to investors. Yieldstreet expects over 50% revenue growth in the current year versus 2020. The firm plans to use new capital to expand its user base, develop new investment products, pursue strategic acquisitions and explore international expansion into Europe and Asia. Yieldstreet was co‑founded by Milind Mehere and Michael Weisz and maintains headquarters in New York City with offices in Brazil, Greece and Malta. YieldStreet operates an online platform that offers access to alternative investments across asset classes including real estate, marine/shipping, legal finance and commercial loans. The company has attracted more than $600 million invested on its platform from over 100,000 members, with an expected 12% IRR and more than $300 million in principal and interest paid to investors. Until now the platform has required users to be accredited investors; YieldStreet also offers YieldStreet Wallet, a savings product paying 2.2% interest that is open to everyone. The new capital will be used to expand the platform and create investment vehicles that do not require accredited status, and the company is working through the legal and regulatory aspects of those products. Management is also exploring ways to enable retirement and IRA account access for users. YieldStreet operates in the U.S. and positions itself as a democratising force to broaden access to products previously reserved for institutions.