Leo Vartanov is a commercial finance executive with more than 20 years of experience across commercial finance and financial services, with a focus on disciplined underwriting, structured financing, and long-term, principal-oriented relationships.
Leo Vartanov is the Founder and Managing Partner of Vartanov Capital, where he oversees the firm’s asset-based lending, real estate lending, and proprietary capital activities.
With more than 20 years of experience across commercial finance and financial services, Leo has built, operated, and overseen lending and operating platforms with a long-term, principal-oriented perspective. His background spans structured commercial financing, asset-backed lending, and real estate operations, with an emphasis on disciplined underwriting, downside protection, and sustainable outcomes.
His approach is grounded in understanding the fundamentals of each transaction, structuring capital thoughtfully, and building relationships that extend beyond individual transactions.
Key Highlights
Years of Experience in Commercial Finance
Co-Founded Merchant Industry LLC
Completed CEO Tenure at Merchant Industry
Valor Paytech
eXPERIENCE & lEADERSHIP
Leo’s career has been centered around commercial finance, with experience spanning structured financing, asset-backed lending, and real estate. Over the years, he has learned that successful financing is about more than numbers. It requires understanding the business, identifying the risks, and building a structure that works for everyone involved.
In 2007, Leo co-founded Merchant Industry LLC and served as its Chief Executive Officer through 2025. During that time, he helped grow the company, build its operating platform, and develop its approach to risk management. The business eventually grew into a nationally recognized commercial finance platform, and Leo later completed the sale of a majority ownership interest in Merchant Industry LLC to LMP Private Equity.
In addition to his operating experience, Leo serves on the board of Valor Paytech, contributing to payments strategy, oversight, and long-term platform development. His experience across finance, lending, payments, and entrepreneurship informs a practical approach to evaluating opportunities, managing risk, and building durable businesses.
Learn more about Leo’s approach and explore how Vartanov Capital can support your business objectives.