Embedded Credit Strategy

Disciplined Credit.
Proven Structure.
Consistent Returns.

KSD Capital provides lending capital to fintech originators through structured SPVs collateralized by diversified pools of small-balance receivables.

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What We Do

We Finance the Infrastructure
of Embedded Lending

KSD provides lending capital to fintech originators through structured SPVs collateralized by diversified pools of small-balance receivables.

Fintech Origination Platforms

We finance lending capital lines to highly vetted B2B fintech origination platforms with embedded finance products and proven product-market fit.

Diversified Capital Sources

We source capital through a diversified mix of partnerships with community banks, large capital allocators, and limited partners through our KSD Evergreen Fund.

Disciplined Credit Thesis

Senior capital protection with first-loss cushion, short-duration credits measured in days and weeks, small-dollar diversified assets, and embedded working capital repayment.

Our Insight

Key Investment Differentiators

The credit attributes we seek are the key factors that drive profitable business models for fintech originators.

Short Duration

Assets amortize in weeks to months, creating rapid performance feedback and flexibility to adjust underwriting standards.

Structure-Led Protection

Clear rules on collateral qualification, limits on concentrations, performance-based triggers, and defined wind-down actions.

Alignment via First-Loss

Each origination partner maintains a meaningful first-loss position replenished monthly, protecting the senior investor tranche.

Embedded Working Capital

Assets funded are the daily lifeblood of the end-user. Repayment is necessary for ongoing business operations — it's mission critical.

Our Team

Experienced Private Credit Team

Combining decades of experience across banking, law, fintech, credit investing, and capital formation.

Will Davis

Will Davis

Co-Founder, CEO & CIO

Nearly two decades at the intersection of banking policy, technology, and credit investing. Former Co-Founder/CEO of Able Lending. Harvard Business School MBA.

Pat Kennedy

Pat Kennedy

Co-Founder

Career banker, attorney, and principal shareholder of TransPecos Banks. Over 40 years advising financial institutions on regulatory, capital, and governance matters. Georgetown University graduate.

Dub Sutherland

Dub Sutherland

Co-Founder

Bank owner, attorney, and seasoned financial executive with 20+ years in community banking, lending, and regulatory oversight. University of Texas and St. Mary's School of Law.

Daniel Koehl

Daniel Koehl

CPA — Chief Financial Officer

20+ years of experience in financial auditing, reporting, budgeting, and fund operations. Also serves as CFO of TransPecos Financial Corp. UT Austin graduate.

Keith Pruzan

Keith Pruzan

CFA — Head of Capital Formation

20+ years in fixed income secondaries and institutional credit markets. Former Credit Broker at TP ICAP and ICE. CFA & CAIA charterholder. Duke Fuqua MBA.

Get in Touch

Let's Start a Conversation

Whether you're an institutional investor exploring the embedded credit space or a fintech originator seeking lending capital, we'd welcome the opportunity to connect.

info@ksd.capital

www.ksd.capital

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