Established in 2017 in the Cayman Islands, the fund is a limited partnership. The fund’s GP is MDP Loan Funds Ltd, a private Israeli company that is owned by Meitav Dash and Pagaya Technologies. Pagaya Technologies is a fintech company that specializes in credit and underwriting risk management for consumer online credit. The company has developed a unique algorithm for the underwriting of consumer credit. The algorithm is based on big data that allows to choose the most profitable loans. Pagaya Technologies employs approximately 70 employees, who mainly engage in underwriting and risk assessment of borrowers in the US.
The fund is engaged in providing consumer credit in the USA through Marketplace companies (platforms) in the USA. The investment policy is to invest all the funds of the fund in loans and use the current interest received – hold them until the date of their repayment and/or sale, and reinvest the proceeds received (from the interest, repayment or the sale of the loans). The fund cherry picks the loans in accordance with the fund’s internal underwriting model developed by Pagaya Technologies.
