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We are dedicated to providing complete financing flexibility to our portfolio companies. Through our dedicated venture debt funds and dedicated venture equity funds, we offer a wide range of debt products, as well as a number of different equity vehicles, including lead investments, minority investments and seed investments.
Venture Debt
Whether a company is looking to finance specific assets, obtain additional cash runway or simply put in place “insurance,” we can help by providing combinations of the following venture debt products:
Growth Capital Loans – Growth Capital loans are used to fund general corporate and operational needs. These loans are covenant-free, non-restrictive loans that provide true runway and maximum flexibility.
Equipment Loans – Equipment loans enable a company to finance specific assets in a cost effective manner. These loans are secured by the equipment itself and also have no covenants.
Subordinated Debt – Subordinated debt loans are available in certain cases when a company wants to layer on additional debt to further extend its runway. These covenant free loans are typically secured by a second lien on a company’s assets.
Accounts Receivable Facilities – Accounts Receivable facilities are intended for companies that have reached a threshold of sales volume. We typically offer these facilities in partnership with a bank or other provider.
Mezzanine Notes – Mezzanine notes provide companies with the flexibility of a very long interest only period in order to help them achieve cash flow breakeven or an exit. These notes are intended for companies that are later in stage, usually only a few quarters away from profitability and cash flow generation.
Convertible Debt – Convertible loans enable a company to convert all or a portion of its outstanding loan into equity at a certain point in the future. This hybrid instrument can provide a company with some of the benefits of both debt and equity.
M&A Financing – We offer various financing products that can be tailored to the needs of companies which are contemplating mergers, acquisitions or specialized financial transactions. We structure these products to provide maximum flexibility with respect to size, timing and option value.
Special Situation Facilities – These facilities, like with M&A financing, depend heavily on the needs of the company in question. Our Special Situation debt products are structured to enable a company to match its financing needs with its business objectives, whatever they may be.
For all of our venture debt products, our initial investment size ranges from $500,000 to $25.0 million. Additionally, we utilize a quick and simple documentation process, which saves a company time during and after the transaction.
For companies that are early in their life cycle, we have various types of equity products targeted at helping them achieve long-term success:
Lead Investments – With our dedicated equity funds, we have the ability to lead rounds with investments of up to $15.0 million. In these cases, we take either a board seat or board observer rights. We bring flexibility to entrepreneurs and existing investors by providing clean term sheets, having no minimum percentage ownership or dollars invested requirements and by offering an efficient investment process.
Minority Investments – Our dedicated equity funds also enable us to invest smaller dollar amounts in rounds being led by our venture equity fund partners. An investment of this type will typically be in the $1.0 million to $5.0 million range. As with our lead investments, we have no minimum percentage ownership or dollars invested requirements and offer an efficient investment process.
Seed Investments – With our dedicated seed fund, we are actively pursuing new ideas and are helping fund those ideas from the point of founding through the various stages of the company’s evolution.
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