A financial blogger is attempting to transition from writing about the industry to participating in it.
Bloomberg reported that Peter Renton, who launched Lend Academy in 2010 to cover peer-to-peer lending, is seeking to raise $28 million for his New York-based Lend Academy Investments. He started the firm with former hedge fund manager Jason Jones and valuation expert Bo Brustkern.
Lend Academy, which will offer a fund of diversified loans from LendingClub, Prosper and business lender Funding Circle Ltd., plans to raise $100 million from investors by the end of 2015.
Renton told Bloomberg that he began receiving e-mails from the readers of his blog about two years ago, stating that they would “love for [him] to manage their money.”