Private credit infrastructure platform Percent has partnered with Trillium Technologies to launch a branded investment marketplace for compute credit products, Alternative Credit Investor can reveal.

Investment company Trillium Technologies has built the marketplace using Percent’s institutional-grade infrastructure. The platform will support Trillium’s compute credit convertible note offering, aimed at turning data centre capacity into an investible private credit product.

Compute credits – prepaid or allocated units of computing capacity, often used by cloud platforms, AI services and infrastructure providers – convert monetary value into a fixed pool of usable computing resources, typically with a redemption rate and expiry window.

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Percent said the launch highlights the role private credit can play in financing AI infrastructure, as demand for cloud computing and data centre capacity continues to grow.

“Compute credits represent exactly the kind of emerging asset class that private credit infrastructure should be able to support,” said Prath Reddy, co-founder and chief executive of Percent.

“Trillium saw an opportunity to bring a novel, real-world asset to investors and needed the capital markets foundation to do it with speed, compliance and operational rigour. That is what Percent was designed to do.

“Our platform has structured and distributed over $2bn (£1.5bn) in private credit, and that infrastructure works whether the underlying asset is a consumer loan portfolio or compute capacity backing AI workloads. We’re building the rails for private credit’s next chapter.”

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Percent’s infrastructure supports private credit products across a range of asset classes, including administration, distribution and management tools for investment products, and the company said its technology can reduce the time, cost and complexity of building a marketplace for newer asset classes such as compute credits.

“With Percent providing the capital markets foundation behind our marketplace, we can move faster, operate with greater confidence, and leverage our team to build the compute credit economy for investors and innovators,” added J. Christopher Mizer, chief executive of Trillium Technologies.

Trillium closed its first round on 10 July, with further capital raises expected to follow.