Las Vegas-based Jet Token Inc. said it has entered into a $40 million investment commitment from GEM Global Yield LLC SCS.
GEM is a $3.4 billion Luxembourg-based private alternative investment group with offices in Paris, Nassau, New York, and Los Angeles.
Under the share subscription facility, the start-up HondaJet fractional program, which also just launched an off-fleet jet card via Cirrus Aviation, will have the right to periodically sell to GEM up to $40 million of common stock during a 36-month term following a public listing of the Jet Token common stock.
According to the announcement, Jet Token Inc. will control the timing and amount of the drawdowns under this facility.
GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries.
Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile.
The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments, according to the announcement.
Find the perfect solution for your private aviation needs
Save Time. Buy Confidently.
Receive an apples-to-apples comparison of programs that meet your needs from more than 500 jet card and fractional options covering 65 points of differentiation and over 40,000 data points.
