Excelsior Announces Plans to Fill $5 Billion Lending Gap in Wholesale Sector

(IDEX Online News) – Excelsior Capital Ventures, LLC (ECV) has announced that it is in the process of raising significant capital targeted solely for use in the diamond and jewelry manufacturing and wholesale sectors. ECV said it will provide loans securitized by diamond and precious metal inventories.

ECV said its business model is built around an ecosystem that encompasses secure asset management, risk mitigated logistics, spot market appraisals, asset monetization, and assisted marketing solutions for customers' inventory.

"Excelsior will fill a capital void, but simultaneously be a catalyst for clients' business growth,” said chairman David Barr. “We are extremely excited about being a part of the solution to allow diamond and jewelry wholesalers to once again fund their growth.”

"The industry is at a critical juncture where all stakeholders have to adapt to the ever-changing landscape,” said ECV CEO and founder Nehal Modi. “In that regard, companies must re-evaluate their capital structures, systems and willingness to demonstrate transparency to lenders. Excelsior can greatly assist clients with all three of these goals."

Excelsior has engaged investment-banking firm Consensus to advise on the capital raise and structure of any future transactions. Michael O'Hara, CEO of Consensus, said that the jewelry industry is experiencing a shortfall of liquidity and a model such as Excelsior will be well received by the industry. "We expect that the vehicle Excelsior is creating will be welcomed by sources of capital who recognize the need for liquidity in the jewelry industry but who have had structural concerns about lending to the asset class. Excelsior's model is both unique and innovative and will remove the sector's historical barriers to capital formation."

ECV said it anticipates funding loans prior to the 2015 Holiday season.