Princeton-based investment firm Edison Partners has led a $62 million investment in New York-based digital wealth management platform YieldStreet, it announced Tuesday.
YieldStreet will use the funds to introduce new investment offerings, expand investor access and increase retail investor education and engagement, Edison Partners said in a news release.
“YieldStreet is democratizing the next frontier of wealth management, giving retail investors access to institutional-grade investment products that were previously off-limits to them,” Chris Sugden, managing partner, Edison Partners, said in a prepared statement. “They have found a profitable and scalable high-growth model in a variety of investments, and are now broadening their offerings with additional products.”
Sugden will become a member of YieldStreet’s board.
The fintech firm enables investors to participate in a wide variety of asset classes, improving access for non-institutional investors.
YieldStreet has more than 100,000 members who have invested more than $600 million through the platform.
