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March 06, 2019  

Startup Targets Nonperforming Loans

An investor in nonperforming residential mortgages is starting a commingled fund.Nova Venture Funds, an Irvine, Calif., startup, plans to begin investing this month with a small amount of friends-and-family money. The firm then aims to raise $10 million to $15 million for a vehicle called Nova East Fund 1 that would lock up investor capital for 4-5 years, including a two-year investment period.Nova is led by Emmanuel Gathers, who has been...

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