Dreamscape, a real estate development and investment firm, has completed an $850m capital raise backed by financial giant Wells Fargo.
Wells Fargo led the debt syndicate while the equity private placement was headed by Raymond James.
According to Dreamscape, the capital raised will help to launch two independent Dreamscape platforms – Dreamscape Entertainment Properties, a real estate investment trust and Dreamscape Entertainment Integrated Resorts, an operator of gaming, hospitality and entertainment assets.
These new, independent Dreamscape platforms will focus on investing and operating in strategically located, high-barrier-to-entry markets with asymmetric growth potential.
The success of this latest capital raise, the firm claims, demonstrates its commitment to diversifying its capabilities and deepening its presence in key markets throughout the US.
Dreamscape CEO and founder Eric Birnbaum said, “As Dreamscape continues to evolve and expand, we knew the gaming and entertainment sector would be a natural fit and become a central part of our business.
“We are passionate about creating dynamic lifestyle experiences. I strongly believe that with our team’s unique development capabilities, investment acumen and deep operating expertise, we are poised to become a differentiated player within this space.”
ModernFi, a deposit marketplace that connects banks with deposits, has scored $4.5m in a seed funding round.
ModernFi said its offering provides an outlet for excess deposits that helps banks manage balance sheet size and earn potential revenue. It also helps banks source liquidity and fund asset organisation.
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