Turbine Just Landed $13M to Shake Up Liquidity in Venture Capital

Venture capital may be all about bold bets and long-term vision, but for investors stuck waiting years to tap into their returns, it’s not always the most liquid game in town. Turbine Finance is aiming to change that—and just raised a hefty $13 million Series A to make it happen.

The round, co-led by Alpha Edison and TTV Capital, follows an unannounced $8.75 million Seed raise. Toss in a fresh $100 million warehouse facility from Silicon Valley Bank, and Turbine is now sitting on $121.75 million in total backing to rewire how venture and private equity investors access their cash.

That’s a lot of firepower for a company targeting a problem few outside the LP-GP bubble talk about: investors stuck holding paper while their capital is locked up in illiquid fund positions.

“The broader private equity market, inclusive of venture and real estate funds, accounts for more than $13 trillion in capital globally. Substantially all of this capital base is locked away in illiquid general and limited partnership positions,” said Mike Hurst, Founder and CEO of Turbine.

Turbine’s pitch is pretty straightforward—let LPs and GPs borrow against the value of their existing fund investments. That means capital can move more freely, whether for making new fund commitments, fulfilling capital calls, or just unlocking cash when needed.

According to Hurst:

“By empowering alternative asset investors to access their capital on their own schedule, Turbine will unlock increased investment to high performance funds.”

The secret sauce?

A data science-powered underwriting platform that replaces months of manual diligence with a few days of machine learning magic. The goal is to simplify what has historically been an expensive and opaque process.

And it’s not just about moving money faster—Turbine’s platform also brings new visibility into a fund's actual performance, something LPs have long craved.

Nate Redmond, Managing Partner at Alpha Edison, didn’t hold back on the potential here:

“Turbine breaks this tradeoff. With Turbine, investors will benefit from the same set of leverage and liquidity tools found in public markets and real estate,” he said.

The platform isn’t just another fintech layer—it’s designed to work hand-in-hand with investment firms to underwrite portfolios directly. The company plans to use its new funding to grow the data science team and fully activate that $100 million warehouse line, with a focus on onboarding funds run by repeat managers with solid track records.

Gardiner Garrard at TTV Capital called it a familiar playbook:

“That's exactly what Mike did with Exactuals when we invested over a decade ago, and it's the same playbook that he's using today.”

Turbine isn’t going it alone, either. Its team brings years of experience from fintech and banking heavyweights, including Silicon Valley Bank, City National Bank, and others. SVB is clearly all-in, with Brian Foley noting:

“SVB is thrilled to continue our strong relationship with Turbine, and we look forward to helping it succeed and scale since the team provides a critical resource for private equity and venture firms.”

With its roots in Santa Monica and eyes on unlocking the $13 trillion currently locked in private market positions, Turbine is positioning itself as the engine to keep venture capital flowing, on demand.