Victory Park, Tradable tokenize private credit fund on Stellar
What's the deal? Victory Park Capital (VPC)Dealroom has a profile for this one. Try Dealroom →, a Chicago-based alternative asset manager and affiliate of Janus HendersonDealroom has a profile for this one. Try Dealroom →, has launched AltsABF Tokenized Feeder Fund, L.P. (VALTS). The fund offers tokenized access to its Privacore VPC Asset Backed Credit Fund, a non-listed interval fund focused on private asset-backed credit. VPC partnered with tokenization platform TradableDealroom has a profile for this one. Try Dealroom → to build it, initially on the Stellar blockchain.
How it works: VALTS invests in AltsABF and is priced on that fund's net asset value, less VALTS-level fees. It expects to offer quarterly liquidity and pay monthly income distributions to investors' wallets in stablecoin.
Why now? VPC launched AltsABF in January 2026 to widen access to private asset-backed credit through a continuously offered interval fund. "Working with Tradable to launch VALTS is a natural next step in that strategy, helping to meet the growing demand for on-chain products," said Kinan Hayani, a partner at VPC.
The partnership: VPC and Tradable first teamed up in 2023, when VPC backed the platform's development. Tradable has since tokenized $3 billion in private credit.
What's the endgame? The fund will be available to qualified purchasers in the US, subject to onboarding, KYC/AML checks, and securities-law requirements. Investors can transfer tokens to other pre-approved investors and choose how to hold them. "The launch of VALTS demonstrates how blockchain infrastructure can create both new distribution opportunities and operational efficiencies," said Tradable chief executive officer Alex Cordover.
The signal: Tokenization is moving from pilot to product among large private-credit managers chasing new distribution and cheaper operations. VPC's tie to Janus HendersonDealroom has a profile for this one. Try Dealroom → — which brought it into a network of more than 2,000 employees across 27 cities after a 2024 majority stake — signals the appetite of established managers to put private assets on-chain.
Read more: business.theantlersamerican.com
Image credit: Bernt Rostad
