Today Lending Club announced that Peter Thomson, chairman of Thomvest and Director of the Thomson Reuters Corporation has made another $25 million investment. This is on top of the $25 million that he made back in September last year.
Like many retail investors Thomson decided to get his feet wet (if you can call investing $25 million that) with Lending Club by focusing on the most conservative loans initially. LC Advisors, the investment arm of Lending Club, runs two funds: the Conservative Consumer Credit Fund (CCF) which invests in just A and B grade loans and the Broad-Based Consumer Credit Fund (BBF) which invests in all loan grades. Thomson’s first $25 million went into the conservative fund and this $25 million will go into the broad based fund.
A year ago this would have been really big news. I almost didn’t write about this because a $25 million investment just doesn’t seem that big a deal anymore. Regardless, it is good to know that the big investors are happy with their performance and continue to put new money to work at Lending Club. With $50 million invested it is safe to say the Thomson will likely be Lending Club’s largest investor.
You can read the full press release here.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.