Freedom Venture Story
Diversity of Thought
Each of the Freedom Venture principals, at some point in their careers, left the safety of employment to build successful businesses with profitable exits. They created Freedom Venture because they believe it is the best place to grow their own capital. They came together out of choice with purposeful intention and a common goal to build wealth for themselves and their investors through cash flowing real estate.
The founding members all come from extremely diverse backgrounds, bringing unique perspectives to each and every investment decision.
After an extensive career serving as a firefighter and medic outside of Boston, Dave Seymour saw opportunity amidst chaos at the height of the 2008 financial crisis. In a few short years, he became known as Boston's premier expert for acquisition, repositioning, and disposition of distressed assets in both residential and commercial markets. Government officials quickly began to see the positive impact Dave's efforts were having on the community and created a partnership through the Massachusetts abandoned housing initiative. As the world began to recover from the crisis, Dave's passion for business and real estate put him on the radar of A&E television network as well as multiple news organizations including CBS, ABC, CNBC, FOX News, and CNN. New York Times reported that Dave Seymour’s series ‘Flipping Boston’ posted the highest ratings ever for the A&E network at the time of airing.
As his real estate career and notoriety soared, Dave sought to streamline and scale his operations. He teamed up with former Fidelity Investments Analyst, Eric Wilson, to form Freedom Venture Investments.
As an accomplished financial professional and entrepreneur, Eric began building out his personal real estate portfolio at a young age. After recognizing there was a need for responsible asset based lending in the industry, Eric parted with Fidelity to form Freedom Venture with Dave. They began by investing directly in distressed assets while simultaneously originating Non-QM loans across the country to qualified real estate investors.
In 2020, the Coronavirus pandemic was a disrupter that no one could have anticipated. During the initial shut down, Dave reflected on past disruptions to the economy, and recognizing the massive shift in our societal habits he knew exactly what the next opportunity was. Dave reached out to his longtime friend and mentor, Walter Novicki of Alvani Capital. Walter had a contrarian approach in the financial crisis of 2008. He raised over $125M in private equity, deploying the capital in various land and apartment redevelopment projects in the Florida market, totaling $250M in transactions. His track record spoke volumes, meeting targeted returns and never missing an investor distribution. After seeing the combined value these entrepreneurs could bring to the investor community, Walter joined Freedom Venture as CIO to launch the Freedom Venture Real Estate Fund I, LLC.
It has been no secret that institutional capital has been seeking opportunity in the Florida market for many years. Amidst the Coronavirus pandemic, this trend was accelerated as investors looked towards growing business friendly markets.
As Freedom Venture dialed in their investment thesis for the Fund, it became clear that one particular segment of the market was largely overlooked by many of the other private equity firms. While other managers consistently compete against each other for the same large assets, Freedom Venture decided to target the lower middle market multifamily sector. This segment of the market consists of properties between 20 - 150 units, and is predominantly controlled by "mom and pop" owners working on thinner margins and higher expense ratios.
With Walter's deep local roots and reliable reputation in the market, this was the perfect opportunity to capitalize on overlooked value in the marketplace.
This unique strategy soon caught the attention of institutional partners Karen Todd and Alec Eickert. Karen and Alec, who provide boutique real estate advisory services for institutions, private equity firms and family offices, knew that this strategy would be an attractive fit for many of their clients' portfolios. The duo joined Freedom Venture, bringing vast relationships and extensive knowledge within the capital markets.
Amongst partners, Karen and Alec have successfully delivered over $2 billion worth of real estate projects over the past two decades, in various sectors such as multi-family, senior living, retail and renewable energy. Both cut from entrepreneurial upbringings, Karen and Alec bring a multi-faceted edge to the Freedom Venture team, offering creative solutions and a robust network poised to create value for partners and investors.