The new pre-IPO coverage tracks the first FDIC-insured national bank purpose-built for the crypto, AI, and defense sectors
HAUPPAUGE, N.Y., July 09, 2026 (GLOBE NEWSWIRE) -- TSG Invest, a multi-entity financial services firm providing accredited investors with research and access to pre-IPO opportunities, today announced new research coverage of Erebor Bank, the nationally chartered bank co-founded by Palmer Luckey and Joe Lonsdale. Erebor Bank joins the firm’s proprietary TSG Venture 50 Index, the index of mid-to-late-stage private companies TSG Invest tracks for research purposes.
Erebor Bank, founded in 2025 and headquartered in Columbus, Ohio, received its full national bank charter in February 2026 and raised approximately $635 million in total capital. The bank was last valued at $4.35 billion following a $350 million round in December 2025 led by Lux Capital. Erebor was built to serve technology, cryptocurrency, artificial intelligence, defense, and advanced manufacturing companies — sectors that lost a primary banking partner when Silicon Valley Bank collapsed in 2023.
“Erebor’s valuation trajectory has been extraordinary — Bloomberg reports the bank is now in talks to raise at a valuation of at least $8 billion, roughly double its $4.35 billion mark from December,” said Drew Spaventa, Founder and CEO of TSG Invest. “Investors should be mindful that there is still limited operating history and public information on Erebor, beyond the fact that Palmer Luckey’s name is attached to it. Even so, it earns a place in the Venture 50, and I’m looking forward to tracking the company’s trajectory.”
TSG Invest maintains a detailed company page on Erebor Bank covering its founding, products, business model, valuation history, and risk factors. The page is available at tsginvest.com/erebor-bank and is part of the firm’s broader research effort across the Venture 50. Index coverage is provided for educational purposes and does not constitute an investment recommendation. Inclusion in or removal from the Venture 50 does not imply that TSG Invest or its affiliates currently offer or have access to shares in any listed company.
The Venture 50 is updated as private companies reach liquidity events and as new high-profile names emerge in the pre-IPO market. For investors new to the asset class, TSG Invest publishes a Pre-IPO Investing Guide explaining accreditation, secondary markets, and the structures used to access private companies.
About TSG Invest
TSG Invest is the trade name of The Spaventa Group LLC, a multi-entity financial services holding company headquartered in Hauppauge, New York, with offices in Jersey City and Old Bridge, New Jersey. Founded in 2020 by Andrew “Drew” Spaventa, the firm operates through TSG Alpha Partners LLC, an SEC-registered investment adviser; TSG Capital Advisors LLC, a FINRA- and SIPC-member broker-dealer; TSG Insurance Services LLC; and TSG Fund Management. TSG Invest provides family office-style wealth management, alternative investments, pre-IPO venture capital access, and related services, supported by its proprietary Venture 50 Index and TSG Vault platform.
For more information, visit www.tsginvest.com.
Media Contact:
Ryan Tiernan
Media Relations, TSG Invest
(631) 210-7263
info@tsginvest.com
www.tsginvest.com
