Nada Holdings just dropped a move that feels less like a funding round and more like a deep club cut sneaking into your bloodstream at 3 AM. A $10M Series A led by Interlock Partners with LiveOak Ventures and Riverwalk Capital Partners sliding in, plus expanded venture debt support from Nomura Strategic Ventures, tells you everything about where this ship is headed. Capital is easy to talk about. Conviction is not. This team earned both by staring down the $30T home equity market and deciding it was time to turn locked-up value into something that actually moves.
A company called Nada choosing to unlock something this massive is the kind of wordplay I appreciate. For decades, homeowners sat on equity while investors circled the edges waiting for someone to modernize access. Nada’s Home Equity Agreement turned that inertia into fuel. No monthly payments. No interest. No income requirement. Just a clean co-investment where homeowners get liquidity and investors participate in future appreciation. When a product like that hits 14 states, produces 250+ HEAs tied to $115M+ in home value, and supports a fund returning 17% IRR, you stop calling it an experiment and start calling it infrastructure.
Cityfunds took that engine and broadened the aperture. Retail investors finally get a way to buy into cities like Dallas, Austin, Miami, and Tampa for as little as a few hundred bucks. Not theory. Not smoke. A real SEC-qualified platform with 10,000+ users already in motion. On the other side, Homeshares keeps the supply moving by converting homeowner equity into investable assets. That circular loop is the kind of business design you only see when founders understand both sides of a market deeply.
Credit lands exactly where it should. Tore C. Steen came in as CEO with the same steady precision he showed scaling CrowdStreet into a national force. John R. Green stepped into the COO role with the operational muscle he built since founding the company. Mauricio Delgado continues to architect the product and strategy with the edge of someone who has scaled high-velocity finance operations before. Felipe Miranda stands as co-founder with the early conviction that anchors companies built for longevity.
Investors like Interlock Partners, LiveOak Ventures, and Riverwalk Capital Partners do not line up for a story. They line up for execution. Nomura Strategic Ventures and Kawa Capital Management backing the venture debt side shows institutional belief in Nada’s ability to originate at volume, manage risk, and package assets for markets that demand discipline.
Now the countdown begins. Nada is preparing its first securitization in 2026, and when retail access and institutional capital converge on the same platform, momentum starts behaving less like velocity and more like gravity.
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