Trevally is a minority-led firm co-founded by Chief Investment Officer Steve Palmer and Co-Chief Executive Officers Matt Jozoff and Brett Nicholas. It has raised about $100 million in total seed capital, including backing from investment bank Seaport Global Securities, and it has early commitments from other investors for as much as $150 million more.

Representatives for Raptor and Seaport declined to comment, as did Trevally, which is named for a predatory fish with excellent vision.

Trevally aims to make consistent double-digit returns by taking advantage of strains it sees on the housing market — including extreme weather, higher home insurance costs and elevated mortgage rates that have curbed borrowers’ mobility. It will initially focus on investments tied to government-owned Ginnie Mae, which securitizes mortgages taken out by low- and moderate-income households.

“We believe many servicers may become unable to perform their obligations, creating significant investment opportunity in Ginnie MBS,” the firm wrote in the investor presentation.