Real estate crowdfunding portal Patch of Land followed the strategy used by many other crowdfunding sites Monday when they announced the addition of two experienced advisors to the company.
Patrick Gannon is a partner at Archimedes Labs LLC, a Silicon Valley investment firm. He is a self-described technology investor with a background in financial services such as trading, credit payments and wealth management, along with internet and software.
After graduating from M.I.T. with a degree in Mathematics and Computer Science in 1991, Mr. Gannon accepted a senior consultancy at Price Waterhouse where his responsibilities included custom system development and large implementations of client-server systems and relational database systems. He then moved on to J.P. Morgan where he created a number of systems across trade entry, portfolio management and risk management while also processing trades.
After receiving his MBA from Wharton in 1997, Mr. Gannon spent five years at DiamondCluster International where he provided strategic investment and acquisition advice for companies like Goldman Sachs, TRW and Boeing. For most of 2003 Mr. Gannon developed Visa USA’s technology solutions business plan before accepting a Vice Presidency in Strategic Planning for Wells Fargo.
In 2007, Mr. Gannon joined Lending Club and during his four-year tenure there he raised more than $100 million in investing capital, created and managed the internal sales force and created several of the proprietary technologies used by the peer-to-peer lender.
“The task of managing a sales team while helping to support many other areas of a fast growing company is a challenge that he always seems to manage very effectively,” said Jeff Migneault, Lending Club’s Manager of Investor Services in a letter on Mr. Gannon’s Linkedin page.
Several people commented on Mr. Gannon’s ability to nurture new businesses and establish a healthy growth pace while also prioritizing customer relations.
Daniel Zwirn is the Managing Member of Zwirn and Company and Arena Investors LLC. During the eight years he was Managing Partner and CIO of his own firm, Mr. Zwirn managed $6 billion of equity capital and $12 billion of assets. He is a cum laude graduate of the Wharton School with a computer science degree concurrently earned at the Moore School of Electrical Engineering. Mr. Zwirn later earned a Harvard MBA.
Patch of Land is a real estate crowdfunding firm specializing in asset-backed residential and commercial real estate debt. They utilize a combination of capital formation, due diligence and proprietary technology. Their corporate leadership personally funds most of the opportunities available on their site.