Someone who lends money, or otherwise purchases equity, is called an investor. The money he is spending are his investments.
What do you call the person on the receiving end of this arrangement?
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As someone involved in the venture-capital space, I would use different words depending on the scenario in question.
A person that has applied, met specific requirements, and received a monetary loan from a lender.
A company or entity in which an investor makes a direct investment.
The receiving end of the arrangement would be the "investee". From www.investorwords.com:
A company or entity in which an investor makes a direct investment