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.
