All green lights for Anzen

February 7, 2022

I'm excited to share that Anzen is officially a go. Our binding letter of intent (LOI) has been signed and the board has signed off on our strategic partnership. To top it all off, Anzen also closed on their initial pre-seed round and are using our LOI to close on their [ ] seed round, which is looking like it will wrap up in the next week or so as well. 

To have Anzen be a partner here is a competitive advantage for us in more ways than one. As I mentioned on our all-hands on Friday, we are creating the market standards and data standards for the private debt industry. So much of the work that was done in 2021 was foundational - revamping our deal structures and ensuring all originators are on them, developing a blended note with criteria for what can go into it, standardizing data across asset classes. In doing so, we incidentally ended up also establishing what would become the eligibility criteria any credit protection product would need in order to work. Anzen was born from all of these efforts we made last year.

For us, offering credit protection to our investors will naturally make them inclined to invest more with us as the risk profile decreases, but it goes so much further than that. Our business extends beyond just offering investment products, we provide surveillance capabilities that are presented in our standardized normalized layout, we are developing an entire workflow around syndication and structuring that revolves around our eligibility criteria. We naturally become the go-to solution for all things structuring, syndication, and surveillance for all platforms and market participants if we already provide all the tools that help them optimize for it.

If you'd like to learn more about Anzen, you can read through the Gitbook, which we helped develop. This is a long term play for the future of private debt that we can capitalize on in more ways than one.

Let's go get it this week 💪