Tennenbaum Capital Partners provides $35 Million to Soundcloud
Tennenbaum Capital Partners provided Soundcloud, the music sharing website, with $35 million in debt funding. Soundcloud was also given the option to borrow another $70 million through convertible bonds, if necessary. Tennenbaum Capital Partners is an American alternative investment firm that specializes in both performing credit and special situations. Previously, Soundcloud received $60 million Series D round funding from Index Venture Partners and Chernin Group at a $700 million valuation. This investment came in January of 2014. Soundcloud had a very strong user base and has recently pursued several different growth options which look to increase the company‚Äôs revenue.