Alyse Killeen’s venture company, Stillmark, is looking to raise $ 500 million for a new credit fund. The fund will provide funding to firms developing in the Bitcoin Lightning domain.
According to sources associated with the firm’s objectives, Alyse Killeen’s Stillmark is attempting to raise around $ 500 million for a new credit facility dedicated to lending financing to bitcoin-related enterprises.
According to a document, the new fund, named the Stillmark Credit Fund, would provide finance to firms in the Bitcoin field as they increase their transaction and payment capabilities, a vital inflection moment that demands liquidity.
Credit funds on Wall Street lend money to businesses in exchange for interest payments. They provide a less hazardous return for investors than a standard hedge fund or venture fund structure, while also allowing entrepreneurs to access funding without giving up stock.
“Notified by our investment activity, Stillmark recognises both an upcoming turning moment for the sector and an urgent demand for inventive firms,” as per deck.
“Lightning Network addresses the $5 trillion payment industry, SCF addresses the requirements of prominent Lightning innovators,” according to the deck, pointing to the Layer 2 Bitcoin platform that enables quicker and cheaper bitcoin transactions.
Stillmark, which was founded in 2019, is a venture capital business that invests in bitcoin and Lightning Network infrastructure. Satoshi Energy, Casa, and Lightning Labs are some of the firms in its portfolio. The managing partner and founder of the business formerly worked for venture capital companies such as Clearstone Venture Partners and March Capital Partners.
