Excelsior Prepares to Fill Lending Gap in Diamond, Jewelry Industry
Press Release: Excelsior Capital Ventures (ECV) LLC, founded by industry leader Nehal Modi, is in the process of a significant capital increase targeted solely for deployment in the diamond and jewelry manufacturing/wholesaling sectors. ECV will provide loans securitized by diamond and precious metal inventories. The Excelsior platform allows for a host of lending solutions that are tailor made to the borrower’s requirements.
In an environment where the diamond and jewelry industry is seeing a significant decline in lending and access to capital, Excelsior is entering the market at an ideal time. ECV’s business model is built around an ecosystem that encompasses secure asset management, risk mitigated logistics, spot market appraisals, asset monetization and assisted marketing solutions for customers’ inventory.
According to ECV’s chairman, David Barr, “Excelsior will fill a capital void, but simultaneously be a catalyst for clients’ business growth. We are extremely excited about being a part of the solution to allow diamond and jewelry wholesalers to once again fund their growth.”
ECV’s CEO, Modi, said, “The industry is at a critical juncture where all stakeholders have to adapt to the ever changing landscape. In that regard, companies must re-evaluate their capital structures, systems and willingness to demonstrate transparency to lenders. Excelsior can greatly assist clients with all three of these goals.”
Top industry manufacturers are in support of Excelsior’s asset based lending model. “It’s a game changer for sure. The industry needs the liquidity, but more importantly the innovative integrated lending solution that Excelsior brings to the table,” said Greg Sofiev, the CEO of LLD Diamonds USA, a Leviev group company.
Excelsior has engaged investment banking firm Consensus (www.consensusadvisors.com), to advise on the capital increase and structure of any future transactions. Michael O’Hara, the CEO of Consensus, commented that the jewelry industry is experiencing a shortfall of liquidity and a model such as Excelsior will be well received by the industry. “We expect that the vehicle Excelsior is creating will be welcomed by sources of capital that recognize the need for liquidity in the jewelry industry but who have had structural concerns about lending to the asset class. Excelsior’s model is both unique and innovative and will remove the sector’s historical barriers to capital formation.”
Excelsior executives will meet with top industry lenders and potential clients at JCK Vegas to help them better understand the ECV finance offering. ECV anticipates funding loans prior to the 2015 Christmas season.