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The Venture Codex

Oaktree Capital Management

333 South Grand Ave., 28th Floor, Los Angeles, CA, 90071, United States

Overview

Oaktree’s mission is to provide highly professional management with a primary emphasis on risk control in a limited number of sophisticated investment specialties. Oaktree specializes in less efficient markets and alternative investments, and has extensive experience, an enviable track record, broad product range and substantial assets under management. They are dedicated to the achievement of consistent and superior performance without high risk. Their ultimate objective is investment success, the fruits of which are shared by Oaktree’s clients and personnel.

Total investments
24
Lead investments
12
Investments · 12mo
5
Active investors
9

Sector focus

  • Business Development
  • Finance
  • Financial Services
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Investment portfolio

  • Sharon AI

    Led · Convertible Note · Jun 2026

    Sharon AI operates an AI cloud platform and high-performance compute infrastructure designed to accelerate the buildout of AI factories and sovereign AI solutions. The company announced a six-year strategic compute collaboration with NVIDIA under which it intends to deploy up to 40,000 Grace Blackwell GB300 GPUs to build one of Australia’s largest AI factories. Sharon AI aims to expand its AI cloud platform and compute capacity to serve growing demand for accelerated computing. Financially, the company has just completed a $1.6 billion financing that combines equity/pre-funded warrants and $700 million of convertible senior notes due 2032. The new capital is earmarked to support the NVIDIA collaboration and broader infrastructure expansion initiatives. Sharon AI positions itself at the intersection of neocloud services and high-performance AI compute infrastructure.

  • Ionic Digital

    Led · Equity · Jun 2026

    Ionic Digital positions itself as a fast-track provider of high-performance computing (HPC) and data center infrastructure designed for intensive AI workloads. The company emphasizes delivering fully ready assets, scalability, and speed to market to address industry bottlenecks such as constrained power and long development timelines. Ionic Digital highlights a seasoned management team with experience developing hundreds of megawatts and raising billions in capital. The company recently strengthened its financial position by completing a $400 million equity private placement that values the business at a $2.0 billion pre-money valuation. Management stated the new capital will support continued development of its digital infrastructure assets and the company’s broader platform strategy.

  • Plata Card

    Participated · Debt Financing · Jun 2026

    Plata was founded in Mexico in 2023 by former top managers of Tinkoff and is led by CEO Neri Tollardo. In February the company received a banking license and began operating as a full bank. Plata has grown rapidly: annual revenue reached $600M and its credit portfolio expanded roughly 170% to nearly 10 billion pesos in 2025. The company has raised over $2 billion in combined equity and debt since inception and most recently secured a $405M financing that valued it at $5.0B. Leadership additions include the hire of Marcos Cantt as chief financial officer. Plata is considering an IPO as it continues to scale in Mexico's large underbanked market.

  • SHINE Technologies

    Participated · Series D · Feb 2026

    SHINE Technologies develops a fusion-based approach to produce medical isotopes such as molybdenum-99, and also plans capability for iodine-131 and xenon-133. The company uses a liquid uranium target that is recycled, which it says reduces radioactive waste volume and operating costs compared with reactor-based production. SHINE has collaborated with U.S. national laboratories for more than 15 years and received technical support and funding from the DOE NNSA. Its commercial Chrysalis facility in Janesville, Wisconsin, is reported to be 75% complete and is positioned to be the world’s largest medical isotope production facility when operational. The recently announced conditional loan commitment from the DOE Office of Energy Dominance Financing is intended to help finish the project and enable market entry. Company leadership and government officials emphasize the project's role in onshoring Mo-99 supply, improving supply-chain reliability, and advancing nonproliferation objectives.

  • Pluralsight

    Participated · Equity · Aug 2024

    Pluralsight operates a learning platform (Pluralsight Skills) dedicated to accelerating the technology skills and capabilities of the tech workforce. The platform offers curated content developed by vetted technology experts, industry skill assessments, and hands-on, immersive learning experiences. Thousands of companies, government organizations, and individuals use Pluralsight Skills for skill development in areas including AI, cloud computing, cybersecurity, software development, and machine learning. The company announced a recapitalization intended to strengthen its balance sheet and reduce outstanding debt. The transaction will provide over $200m of capital to accelerate growth initiatives and support long-term strategic goals. Pluralsight says the additional resources will help deliver for customers and execute an updated customer-centric strategy; it maintains worldwide offices in India, Ireland, and Australia. Pluralsight is an online technology training service that provides on-demand courses and enterprise licensing for professional and corporate learning. The Farmington, Utah–based company, founded in 2004, offers access to more than 3,000 courses and serves customers in over 150 countries. Individual users pay $29 per month for library access while businesses can purchase annual licenses at $300 per seat per year. Pluralsight has expanded in part through roughly $70 million in acquisitions in 2013–2014, including PeepCode, Tekpub, TrainSignal, and Digital-Tutors. Management sees the product becoming a de facto corporate training and certification standard and is targeting deeper enterprise and academic adoption. The company plans to use financing to pursue additional acquisitions, develop new content, and improve functionality and features primarily for enterprise customers. Pluralsight is an online training resource focused on professional developers, offering over 400 web-based courses. Founded in 2004 and based in Salt Lake City, the company shifted from in-person classroom training to an online subscription model. Individual subscriptions cost $29/month for full library access or $49/month for mobile/offline access; individuals account for roughly half of the company’s revenue. Pluralsight has an extensive partnership with Microsoft (its biggest corporate customer) and is used by engineers at Salesforce, Twitter, Facebook, Bank of America, Dell, EMC, Walt Disney, and KPMG. The company plans to expand its catalog—with a specific push to offer 50 Salesforce courses by year-end 2013—and to invest in courses on social platforms, Java, Android, Ruby, PHP, Python, and cloud platforms. It reports over 200,000 users across 100 countries, works with about 100 authors who average $9,000–$10,000 in royalties per quarter, and plans to grow headcount (22 employees at the time) including opening an office in India and expanding its sales team.

Team

  • Armen Panossian

    Co-Chief Executive Officer

    LinkedIn
  • Ian Schapiro

    Managing Director & Portfolio Manager

  • Howard Marks

    Co-Chairman

    LinkedIn
  • Bruce Karsh

    Co-Chairman and Chief Investment Officer