Steelwave has launched a new fund that offers an innovative financial structuring option for investors: they can choose to convert their LP interest into digital securities.
Long Data Lease Fund is seeking to raise $500 million and will buy existing office and tech properties with a long-term lease already in place and with existing income streams.
Investors will be able to “either keep [their LP interest] as an LP interest, [where] it plays just like it does in a traditional fund, or they can convert it because there’s an opportunity to provide seamless, cheap secondary liquidity,” said Barry DiRaimondo, CEO, Steelwave, in an interview with IREI.
The benefits of converting an investment into a digital security is that tokenization enables more seamless liquidity as well as unique opportunities for the LP, such as the siphoning of their interest into fractional offerings.
“Basically what we did is we launched a fund to execute a very simple real e
