Ulaanbaatar, Mongolia – February 20, 2025 – Blacswan LLC (“Blacswan”), an emerging alternative asset manager focused on Mongolia and beyond, today announced its acquisition of Hestia through an affiliate, marking a transformative step toward institutionalizing home equity financing in Mongolia. As part of the transaction, Blacswan has committed $10 million to securitize Hestia’s forward flow pipeline, expediting the deployment of affordable, equity-based residential capital.

Hestia is a proptech platform redefining homeownership by enabling fractional access to residential equity, expanding affordability through innovative home equity solutions. Through a digital-first onboarding process and proprietary valuation and analytics, Hestia empowers homeowners to unlock the value of their properties without incurring debt or monthly payments. The platform is particularly relevant for households unable to meet Mongolia’s 30% down payment requirement for state-subsidized mortgages.

“This acquisition addresses a critical financing gap in Mongolia’s undercapitalized housing market,” said Munkh-Erdene Jargalsaikhan, Partner at Blacswan. “By seamlessly integrating Hestia’s innovative origination capabilities with our strategic operational framework, we are cultivating a scalable solution that not only provides investors with unparalleled access to high-quality residential real estate, but also facilitates inclusive, debt-free capital solutions for households traditionally underserved by conventional financial markets.”

Blacswan’s acquisition will accelerate the development of a fully digital origination interface and extend outreach to ger district families and essential workers—two groups historically underserved by formal finance and urban housing policy. The $10 million securitization commitment will fund over 1,000 Home Equity Agreements (HEAs), unlocking $67 million in equity by 2026.

About Hestia
Hestia is Mongolia’s first Home Equity Agreement origination platform, offering lien-secured, equity-based financing solutions to homeowners. Through proprietary valuation models and a digital-first interface, Hestia delivers transparent and flexible capital access to families excluded from traditional credit markets.

About Blacswan
Blacswan is an emerging alternative investment firm based in Ulaanbaatar, specializing in private equity, structured credit, and real assets. Founded in 2021 by partners with over $2 billion in cumulative asset management experience, Blacswan is committed to delivering institutional-grade solutions in undercapitalized markets, with a strong emphasis on disciplined execution, long-term impact, and innovative investment strategies in emerging markets.