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Proof Capital Medical Receivables Yield Fund

By:

Proof Capital Inc.

The Proof Capital Medical Receivables Yield Fund is an open-ended alternative investment fund providing investors with exposure to the U.S. personal injury medical receivables market. Through secured lending and profit-sharing arrangements, the Fund seeks to generate attractive income and capital appreciation from medical receivables while providing diversification outside traditional public markets.

*Target Net Annualized Return (13.7% since inception)

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Location

United States

Risk Profile

Moderate-High

N/A

Min. investment

$25,000 (CAD and USD options)

Investment Strategy

Fixed Income

Return

*11 – 15%

Horizon

Open-ended

Introduction

The Proof Capital Medical Receivables Yield Fund provides access to a specialized alternative asset strategy focused on American personal injury medical receivables. The Fund supplies capital to medical providers while they await settlement of eligible receivables, seeking to generate returns through a combination of conventional lending and profit-sharing arrangements. Its investment approach combines opportunistic investing with fixed-income characteristics, targeting attractive risk-adjusted returns from a less traditional segment of the private credit market.

Key Reasons to Invest
Targeted Net Returns:

The Fund targets a net annualized return of 11–15%, although returns are not guaranteed. 

Specialized Alternative Asset Exposure:

Access to the U.S. personal injury medical receivables market. 

Multiple Return Drivers:

The conventional loan book targets approximately 17–20% annually, while the profit-share book targets approximately 20–30%+ at the underlying investment level. 

Diversification:

Exposure to an alternative strategy outside traditional equities and fixed income markets.

Open-Ended Structure:

The Fund is open-ended, while underlying investments generally have an anticipated repayment cycle of approximately 1.5 to 2.5 years. 

Opportunistic + Income Strategy:

Combines fixed-income-style lending with opportunistic profit-sharing investments.

Project Overview

The Fund invests primarily in American personal injury medical receivables through conventional loans and profit-sharing investments. Capital is provided to medical providers seeking liquidity while awaiting payment or settlement of outstanding receivables. The strategy is designed to capitalize on the financing gap between the delivery of medical services and the eventual collection of receivables, generating returns through interest income and participation in receivable proceeds.

Location

The strategic focus on specific U.S. jurisdictions—Florida, Michigan, New York, Texas, and California—is designed to minimize jurisdictional uncertainty and protect investor returns by prioritizing regions with well-established legal and insurance frameworks.

Because the Fund's investment strategy relies on a "Timing Premium" derived from the settlement of personal injury medical receivables, the reliability of the legal process is paramount.

Selecting these "structurally favorable" states is a risk mitigation strategy to ensure:

  • Clear, established legal frameworks governing medical liens. This ensures the Fund’s 1st lien position on the funded portfolio and other security interests remain robust and enforceable throughout the settlement cycle.
  • Predictable settlement timelines. The Fund’s yield is tied to the 12 to 18+ month claim settlement process. By concentrating investments in states with efficient legal and insurance environments, the Fund reduces the risk of procedural bottlenecks that could unpredictably extend the repayment cycle.
  • Regulatory stability. These regions are identified as having consistent environments for personal injury litigation, which reduces exposure to unexpected legal shifts or procedural variations that could disrupt the underlying cash flows of the medical receivable assets.
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Issuer Overview

Proof Capital Inc. focuses on alternative investment opportunities across specialized and less-efficient private markets. Through the Medical Receivables Yield Fund, the investment team applies underwriting, portfolio diversification and active risk management to a portfolio of U.S. medical receivable-related investments, with a focus on generating attractive income and long-term risk-adjusted returns.

The Fund is supported by a highly experienced management team. 

  • Jeremy Kaliel, President & CEO of Proof, brings over 15 years of capital markets experience. 
  • Cameron Reid, CIO of Proof & PM at Qwest, has 25 years of portfolio management experience. 
  • The Fund relies on specialized sub-advisors, including Robert Marchant and Bryan Allen, who have successfully deployed over $140 million in medical receivables since 2017.
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