ORIGINATOR PROFILE

Prime Case Funding

Founded in 2010, Prime Case Funding is a New York based full-service legal finance firm. The Originator has funded plaintiffs in all 50 states and considers itself active in 33 states. The Originator’s origination strategy focuses on developing and maintaining personal relationships with attorneys and offers competitive industry rates with underwriting turnaround time of 24 hours from receipt of case documentation. Furthermore, the Originator’s philosophy emphasizes customer service, with a team of account executives serving as dedicated points of contact for each case and active involvement by the Principals. As of April 2019, the Originator has funded over 14,000 plaintiff advances for a total of $80.5M.

Lending Methodology

The Originator has designed and developed policies and procedures to review and analyze prospective funding requests involving outstanding personal injury claims or other lawsuits that have not yet settled. The Originator’s underwriting process includes a review of case documentation and an interview with the handling attorney to evaluate the case across four key attributes:

  • Liable Party: The Originator identifies the liable party and assesses the extent of liability.
  • Ability to Pay: The Originator identifies the obligor, which may be an insurance company. The Originator then assess the obligor’s requirement and financial ability to pay the expected settlement amount.
  • Injury: The Originator reviews and verifies the damages experienced by the plaintiff.
  • Causation: The Originator determines whether a chain of causality can be established between the incident and the damages.

Upon review of all information gathered, the lead underwriter renders a decision to approve or decline the funding request based on an opinion of the case’s likelihood to settle, the estimated settlement amount and the time to settle. Any funding request over $15k is escalated to the Chief Operating Officer, who renders the final decision.

If approved for funding, the Originator verifies that the case remains unencumbered, and a funding agreement is drawn alongside a suite of security documentation to ensure plaintiff and attorney’s acknowledgement of the advance and payment procedures.

Portfolio Management

The Originator has developed a proprietary enterprise software which processes each case from initial intake to closing. All case information and documentation are entered into the system which allows for efficient inter-department collaboration and tracking of funding at each stage of the funding’s lifecycle. Post-funding, the Originator services its active advances internally. It is responsible for the case management, risk management and cash management functions:

  1. Case Management – The Originator monitors the underlying cases associated with the Originator’s active advances real-time through digital filings via the electronic courts systems and through direct contact with the handling attorney (approximately every 90 days). Advances related to a case which is at a high risk of loss are placed on a watchlist for enhanced monitoring. The decision to categorize an advance as defaulted or the approval of any reduction in repayment amount is escalated to the Chief Operating Officer.
  2. Risk Management – The Originator’s risk management process occurs in conjunction with the case management process as the Originator ensures the advance remains otherwise unencumbered over its life. In particular, if a new attorney is engaged by the Plaintiff, the Originator contacts the new attorney to confirm representation and sends the new attorney a Notice of Lien letter and the executed funding agreement both electronically and via certified mail. The Notice of Lien Letter ensures the Originator’s claim to the settlement proceeds is known by the law firm so that the Originator is properly remitted its portion at settlement.
  3. Cash Management – The Originator’s cash management process consists of ensuring the proper amount of funds is received in relation to a case settlement. The Originator coordinates directly with the attorney when a settlement is considered imminent to confirm the amount outstanding on the advance. The Originator is responsible for the physical processing of payments and the proper application of funds, including the depositing of monies due to collection accounts. The entire cash management process is documented on the Originator’s system which allows for efficient process control and verification.

Portfolio Metrics & Performance

An analysis of the Originator’s closed advances was performed as of April 2019. The Originator has had 10,039 advances close, which represents $51.4M of funding and $71.7M of collections. As such, the multiple of invested capital (referred to as MOIC and calculated as Amount Collected divided by Amount Funded) for closed advances was 1.40x which means that if an advance closed, for every $1.00 funded, the Originator received $1.40 in return. The time to settlement for the Originator’s closed advances was on average 12.7 months, which in consideration of the MOIC, represents a closed advance internal rate of return (IRR) of 37.6%. It is important to note that the discussed metrics only consider closed advances and do not consider advances that are currently considered active and ongoing.

Historical Performance


  • Settled Advances: 10,039
  • Amount Funded: $51,422,267
  • Amount Collected: $72,158,964
  • Multiple of Invested Capital (MOIC): 1.40x
  • Time to Settlement (Months): 12.7
  • IRR: 37.6%

Management

Leo Goldenberg

Co-Founder & Chief Executive Officer

Mr. Goldenberg has served as Chief Executive Officer of the Originator since inception. Prior to founding the Originator, he had over 10 years of experience in capital markets investing, risk management, corporate finance and technology. He leads the Originator’s financial and controller functions and directly oversees investor reporting and accounting. In addition, Mr. Goldenberg was instrumental in the development of the Originator’s proprietary enterprise software and continues to manage the company’s technology infrastructure.

Eduard Shleyger

Co-Founder & Chief Operating Officer

Mr. Shleyger has served as Chief Operating Office of the Originator since inception. He leads the Originator’s sales and marketing, operations and human resources functions. Prior to founding the Originator, he had 15 years of experience in investments, sales and marketing. In 2004, he founded I&E Imperial Realty, a real estate brokerage firm where he managed 20 real estate agents, and prior to founding I&E Imperial Realty, he served as an Account Executive at Gruntal & Co, a NY-based retail brokerage firm, where he managed $28.5M in investments.

1 Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.

3 "Annual interest" or "Annualized Return" represents an annual target rate of interest or annualized target return and "term" represents the estimated term of the investment. Such target interest or target returns and estimated term are projections of the interest or returns and or term and may ultimately not be achieved. Actual interest or returns and term may be materially different from such projections. This targeted interest or returns and estimated term are based on the underlying investments held by the applicable.

4 Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.

5 Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.

6 The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including Dec 22th, 2021, after deduction of management fees and all other expenses charged to investments.

7 Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.

8 This tool is for informational purposes only. You should not construe any information provided here as investment advice or a recommendation, endorsement or solicitation to buy any securities offered on Yieldstreet. Yieldstreet is not a fiduciary by virtue of any person's use of or access to this tool. The information provided here is of a general nature and does not address the circumstances of any particular individual or entity. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of this information before making any decisions based on such information.

300 Park Avenue 15th Floor, New York, NY 10022

844-943-5378

No communication by YieldStreet Inc. or any of its affiliates (collectively, “Yieldstreet™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing on this website is intended as an offer to extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.

Any financial projections or returns shown on the website are estimated predictions of performance only, are hypothetical, are not based on actual investment results and are not guarantees of future results. Estimated projections do not represent or guarantee the actual results of any transaction, and no representation is made that any transaction will, or is likely to, achieve results or profits similar to those shown. In addition, other financial metrics and calculations shown on the website (including amounts of principal and interest repaid) have not been independently verified or audited and may differ from the actual financial metrics and calculations for any investment, which are contained in the investors’ portfolios. Any investment information contained herein has been secured from sources that Yieldstreet believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefor.

Private placement investments are NOT bank deposits (and thus NOT insured by the FDIC or by any other federal governmental agency), are NOT guaranteed by Yieldstreet or any other party, and MAY lose value. Neither the Securities and Exchange Commission nor any federal or state securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided by or through the website. Investors must be able to afford the loss of their entire investment.

Investments in private placements are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Additionally, investors may receive illiquid and/or restricted securities that may be subject to holding period requirements and/or liquidity concerns. Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.

Alternative investments should only be part of your overall investment portfolio. Further, the alternative investment portion of your portfolio should include a balanced portfolio of different alternative investments.

Articles or information from third-party media outside of this domain may discuss Yieldstreet or relate to information contained herein, but Yieldstreet does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party articles, do not constitute an approval or endorsement by Yieldstreet of the linked or reproduced content.

Investing in securities (the "Securities") listed on Yieldstreet™ pose risks, including but not limited to credit risk, interest rate risk, and the risk of losing some or all of the money you invest. Before investing you should: (1) conduct your own investigation and analysis; (2) carefully consider the investment and all related charges, expenses, uncertainties and risks, including all uncertainties and risks described in offering materials; and (3) consult with your own investment, tax, financial and legal advisors. Such Securities are only suitable for accredited investors who understand and willing and able to accept the high risks associated with private investments.

Investing in private placements requires long-term commitments, the ability to afford to lose the entire investment, and low liquidity needs. This website provides preliminary and general information about the Securities and is intended for initial reference purposes only. It does not summarize or compile all the applicable information. This website does not constitute an offer to sell or buy any securities. No offer or sale of any Securities will occur without the delivery of confidential offering materials and related documents. This information contained herein is qualified by and subject to more detailed information in the applicable offering materials. Yieldstreet™ is not registered as a broker-dealer. Yieldstreet™ does not make any representation or warranty to any prospective investor regarding the legality of an investment in any Yieldstreet Securities.

Banking services are provided by Evolve Bank & Trust, Member FDIC.

Investment advisory services are provided by YieldStreet Management, LLC, an investment advisor registered with the Securities and Exchange Commission.

Our site uses a third party service to match browser cookies to your mailing address. We then use another company to send special offers through the mail on our behalf. Our company never receives or stores any of this information and our third parties do not provide or sell this information to any other company or service.

Read full disclosure
Copyright © 2022 YieldStreet, Inc.