Former JetEdge CEO Papariella launches investment fund with $100 million deal

After selling JetEdge to Vista Global and departing, Bill Papariella is launching AeroVentures to provide financing for private aviation.

By Doug Gollan, October 16, 2023

After selling fast-growing charter operator and jet card provider JetEdge to Vista Global in March 2022 and then departing earlier this year, Bill Papariella (pictured right) has unveiled his newest venture, AeroVentures.

The new firm will run as a family office.

The former JetEdge CEO says the structure provides “the autonomy ability to quickly invest in any aviation-related venture or enterprise without the usual limitations found when dealing with private equity and major financial institutions.”

Papariella tells Private Jet Card Comparisons his goal is “investing capital and providing insight to companies of all sizes that are seeking to scale their operations, evolve their product offerings, or expand internationally.”

The key target will be midmarket and growth companies in private aviation with under $50 million in EBITDA.

Specifically, Papariella says he is focused on technology, retail aircraft brokerages, storage facilities, airfields, MROs, real estate developers, aircraft lease finance, and other emerging enterprises within aviation.

He adds, “AeroVentures is launching with the mission of deploying capital into vehicles that can utilize our depth of global relationships and knowledge in private aviation,” noting, “I really want to stimulate further innovation in the growing aviation market by partnering with promising enterprises or asset lending vehicles that can realize long-term growth thru our investment platform.”

$100 million credit facility

In his first deal, AeroVentures is providing a $100 million credit facility to Jetcraft, a global aircraft brokerage with over 25 offices worldwide.

As part of the agreement, Jetcraft becomes the exclusive trading partner for AeroVentures.

Chad Anderson (pictured left), CEO at Jetcraft, says, “For Jetcraft, AeroVentures gives us access to Bill’s extensive network supported by strong credit lines, allowing us to complete even more trades for our customers so we can continue transacting at the speed of life.”

Papariella adds, “As a premier private aviation brokerage with unmatched international reach, data-driven market analysis, and advisors that possess extensive knowledge in the global private aviation ecosystem, we are pleased to partner with Jetcraft.”

In addition to its operator side, Papariella founded JetEdge Partners, an aircraft brokerage, which was part of the sale to Vista.

JetEdge had grown into the eighth-largest U.S. private jet operator based on fractional and charter hours before its sale.

After being named Chief Business Officer at Vista, before leaving, Papariella was tabbed to head a new unit, Vista Global Trading.

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