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Chase Coleman Buys Large Stake in On Deck Capital

Chase Coleman  Deck Capital

 

Chase Coleman revealed a sizeable stake in recent IPO On Deck Capital, which makes loans of around $250, 000 to small businesses, as reported by Gurufocus. Coleman owns a 9.2% stake in On Deck, to the tune of 6, 333, 004 shares. The company has its initial public offering on December 17, and issued 11.5 million shares. It raised $230 million, and the company has a market cap of $1.3 million.

On Deck is aggressively expanding revenues, raising $48 million in revenues compared to $16.4 million. Its net loss has declined significantly from last year. The company makes money from interest income, and it made $99.9 million on interest compared to $41 million last year.

Chase Coleman was a protegee of Julian Robertson, whose Tiger Capital beat the S&P 500 this year with returns at 16.2%

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