Latest news with #LeeSmallwood
Business Wire
6 days ago
- Business
- Business Wire
Vontive Unveils Its $150M Revolving Securitization and Adds Citi as Equity Investor
SEATTLE & NEW YORK--(BUSINESS WIRE)-- Vontive, the technology company standardizing the business-purpose mortgage, today announced an equity investment from Citi. At the same time, Vontive launched a $150 million securitization, VNTV 2025-RTL1. The combination of Citi's equity investment and full suite of capital markets solutions will enable us to supercharge Vontive's growth sustainably. - Charles McKinney, Vontive CEO Share VNTV 2025-RTL1 establishes Vontive's securitization shelf, marrying a traditional structure for credit investing with its technology for digitally originating, underwriting, and servicing business-purpose mortgages at scale. Citi served as the sole lead for the transaction. Vontive's platform uniquely connects private credit investors with real estate entrepreneurs, removing barriers for private credit to finance the revitalization of U.S. housing stock. In doing so, it tackles an urgent real-world problem: more than 70 million homes were built before 1980, according to the Census Bureau, and many will need renovation as the country faces a chronic and worsening shortage of affordable housing. Through securitization, Vontive facilitates the flow of private capital to fund real estate modernization as investors seek higher-yielding exposure to U.S. mortgage credit. Vontive has dedicated years to creating software that incorporates what traditional lenders have always been forced to do manually. Its latest advancements apply granular knowledge of housing markets, properties, borrowers, document requirements, and more to streamline and improve operations. Vontive's platform enables capital allocators to increasingly access complex and esoteric credit assets. "There is unprecedented demand for private credit exposure from financial institutions but delivering it consistently and at scale requires Vontive's sophisticated technology," said Vontive CEO and Co-founder Charles McKinney. "The combination of Citi's equity investment and full suite of capital markets solutions will enable us to supercharge Vontive's growth sustainably.' 'Vontive is a highly strategic investment given the meaningful ways that Citi's Spread Products desks can support them. We are excited about Vontive's growth potential and their story – they have a strong blend of mortgage and technology expertise,' said Lee Smallwood, Global Head of Markets Innovation and Investments. The investment was made through Citi's Spread Products Investment in Technologies (SPRINT) team, the strategic venture investing arm of Citi's Spread Products business. About Vontive Founded by credit industry and technology veterans, Vontive is the leading embedded mortgage platform for investment real estate with best-in-class technology that standardizes private credit mortgages. Vontive enables any bank, credit union, property technology company, or B2C brand serving real estate investors to launch its own investment-mortgage business with ease. Please visit or follow us at
Techday NZ
23-05-2025
- Business
- Techday NZ
Citi invests in Starburst to advance secure AI data solutions
Starburst has received a strategic investment from Citi to support the delivery of secure and scalable data applications for enterprises. Starburst provides a data platform that allows organisations to unify access to distributed data across cloud, on-premises, and hybrid environments without requiring data duplication or complex migrations. The company aims to deliver AI and analytics solutions built on an open and hybrid data lakehouse foundation. This approach is designed to support global enterprises in creating intelligent data applications while maintaining security and scalability. According to Starburst, its platform brings artificial intelligence closer to data storage, referred to as "lakeside", which is intended to reduce the friction traditionally experienced between data, governance, and AI processes. The company reports that its technology is currently utilised by 10 of the top 15 banks worldwide. The investment from Citi was made through the Markets Innovation & Investments division. Lee Smallwood, Global Head of Markets Innovation and Investments at Citi, said, "We're excited to collaborate with Starburst to help shape the future of enterprise data and AI. Our strategic investment reflects Citi's commitment to advancing a modern, AI-ready data infrastructure, prioritising governance, performance, and flexibility to power mission-critical financial services in a global, regulated environment." Justin Borgman, Chief Executive Officer and Co-Founder of Starburst, commented on the partnership by stating, "Our mission is to meet the data challenges faced by complex, global institutions. We're proud to provide our clients with a secure, high-performance platform that enables access to data wherever it lives. Citi's investment reinforces our mission to remove barriers between data and insight, especially in industries where speed, trust, and governance are non-negotiable." Starburst has indicated it is continuing to expand its presence in regulated industries that are increasingly adopting AI as a core part of transformational strategies. The company says its platform is built upon an open data stack, incorporating Trino and Apache Iceberg to provide federated access and governed collaboration, supporting compliance and data lineage for enterprises. Starburst states its platform is trusted by enterprises in over 60 countries, including four of the top five global banks. The company highlights strategic partnerships with providers such as AWS and Dell Technologies to support interoperability for clients across multiple environments. Starburst reports that, by focusing on performance, governance, and control, it aims to enable organisations handling intensive and sensitive data workloads to unlock more value from their information and support the adoption of compliant AI solutions.
Cision Canada
19-05-2025
- Business
- Cision Canada
Starburst Announces Strategic Investment from Citi
BOSTON, May 19, 2025 /CNW/ -- Starburst, the data platform for apps and AI, today announced a strategic investment from Citi. Starburst's platform enables organizations to unify access to distributed data, across cloud, on-premises, and hybrid environments, without the need for data duplication or complex migrations. Starburst's vision is to deliver cutting-edge AI and analytics solutions on an open, hybrid data lakehouse foundation. The investment strengthens the company's momentum in enabling global enterprises to build secure, scalable, and intelligent data applications. By bringing AI "lakeside," Starburst eliminates the traditional friction between data, governance, and AI. Starburst's technology is used by 10 of the top 15 banks. The investment was made through Citi's Markets Innovation & Investments division. "We're excited to collaborate with Starburst to help shape the future of enterprise data and AI," said Lee Smallwood, Global Head of Markets Innovation and Investments, Citi. "Our strategic investment reflects Citi's commitment to advancing a modern, AI-ready data infrastructure, prioritizing governance, performance, and flexibility to power mission-critical financial services in a global, regulated environment." "Our mission is to meet the data challenges faced by complex, global institutions," said Justin Borgman, CEO and Co-Founder of Starburst. "We're proud to provide our clients with a secure, high-performance platform that enables access to data wherever it lives. Citi's investment reinforces our mission to remove barriers between data and insight, especially in industries where speed, trust, and governance are non-negotiable." Starburst continues to expand its reach into high-demand, regulated industries where AI is becoming a cornerstone of transformation. About Starburst Starburst is the data platform built for flexibility, delivering fast, secure access to all your data, wherever it lives. Whether on-premises, across clouds, or in hybrid environments, Starburst provides choice and control to your architecture. Built on an open data stack with Trino and Apache Iceberg, it unifies distributed data without complex or costly migrations, unleashing the full power of the data lakehouse for analytics and AI. With our Lakeside AI architecture, enterprises gain federated access, governed collaboration, and full data lineage, laying the foundation for scalable, compliant AI innovation. Starburst empowers data-intensive and security-conscious organizations to unlock the full potential of their data while ensuring performance, governance, and control. Enterprises in 60+ countries, including Comcast, Citigroup, and 4 of the top 5 global banks, trust Starburst to maximize data value. Our strategic partnerships with AWS, Dell Technologies, and top cloud providers ensures seamless interoperability across environments. From insights to action to AI, Starburst fuels innovation at every level. Learn more at
