About M11 Credit

Our Story

Founded in 2021, M11 Credit operates at the forefront of bringing traditional capital markets on-chain by providing liquidity providers opportunities to access risk-adjusted return opportunities and by providing credit solutions to established and profitable (crypto-native) companies. We use Decentralised Finance (DeFi) infrastructures such as Maple Finance and Zest Protocol and the pools we are involved with have issued $750m in loans since inception in July 2021.

We are a team of professionals with 40 years combined experience in areas such as leveraged finance, asset management and capital markets.

M11 Credit is part of the M11 Group, a global blockchain and crypto-native investment firm

Strong origination and credit underwriting standards

The credit pools we manage issue loans to a diversified set of cash generative, premier low-latency trading firms with market neutral strategies (i.e. no directional exposure to price movements) and the team has developed deep industry relationships to attract only the highest quality borrowers. These trading firms have a strong and established track-record and performed well during times of increased market volatility which makes them a suitable lending partner for liquidity providers looking for uncorrelated market exposure.

We have developed a disciplined approach to assess risks associated with the counterparties that borrow from a credit pool.

It all starts with an extensive Q&A session with prospective borrowers to gain a solid understanding of their business model, balance sheet and what factors drive their earnings.

Our institutional grade underwriting processes furthermore addresses both qualitative and quantitative aspects such as :

  • Balance sheet and Income Statement
  • Asset quality and liquidity
  • Risk management/operations
  • Track record
  • Team & culture

In addition we use (real-time) on-chain analytics to track the activity of the borrower. Once a loan has been issued by a liquidity pool we perform frequent monitoring of up-to-date (monthly) financials. As a Pool Delegate M11 Credit also focuses on managing concentration risk and borrower diversification.

M11 Credit is highly committed to the security of the liquidity providers by providing a first-loss safety buffer to investors. 

The Team

Victor van Eijk
Managing Director

Victor has been active in capital markets since 2005. Prior to joining Maven 11 in December 2021 he held managerial roles in institutional sales and trading in both Amsterdam and New York at Kempen & Co and NIBC amongst others. At M11 Credit Victor is responsible for bringing opportunities in decentralized finance (DeFi), such as capital marketplace Maple Finance, to institutional liquidity providers around the globe. Victor holds a MSc in Business Administration from Erasmus University in Rotterdam. 

Peter Salyga
Director of Underwriting

Peter is an experienced Risk Manager who has acquired a proven expertise in counterparty collateral management / stress testing at Morgan Stanley and BofA/Merrill Lynch. His professional background also includes a wealth of experience in credit underwriting within the digital asset industry. Peter holds a degree in Business Administration concentrating in Finance and Accounting from University of North Carolina Wilmington.

Wojtek Pawlowski
Business Development Manager

Wojtek holds an MSc degree in Quantitative Finance and ventured into the blockchain space in 2017. Prior to joining Maven 11 in 2020, he developed his skills in trading and data modelling. His master’s thesis explored Bitcoin's potential role as a safe haven for US equities.

At M11 Credit, Wojtek has a key role in the operational management of liquidity pools across various lending protocols. He is also responsible for finding, onboarding, and maintaining relationships with liquidity providers and borrowers. Furthermore, Wojtek leads internal product development, specifically the on-chain tracking tool and data verification platform.

Nikita Razuvaev
Senior Credit Analyst

Nikita holds a double MSc degree in Corporate Finance and Accounting from the Financial University in Moscow. He is as well a CFA level 1. Prior to joining M11 Credit, Nikita spent 5 years in banking, with the focus on providing debt and mezzanine financing to corporate clients and VC/PE portfolio management.

By bringing traditional credit and investment experience to M11 Credit, Nikita is contributing to further strengthening the underwriting process.

Ryan Tan
Data Analyst

Ryan ventured into the blockchain industry in 2020 after a friend introduced him to p2p transactions with Bitcoin. He has been actively participating in the space, winning developer prizes at ETHGlobal Waterloo, and has a keen interest in DeFi Lending protocols.

Drawing from his experience at Stablecorp in credit risk analysis, portfolio management, and trading strategy development, Ryan is now establishing the technical infrastructure for M11 Credit. His primary focus lies in on-chain data collection and monitoring systems. He is currently pursuing his undergraduate studies in Business Analytics at the National University of Singapore.

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M11 Credit © 2024

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89 Nexus Way
Camana Bay
Grand Cayman KY1-9009
Cayman Islands

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    M11 Credit © 2024