Venture finance · Growth lending · Risk
Capital, structured
for scale.
We finance companies from their first institutional round through expansion — venture debt, growth equity and structured credit, held together by bond and insurance programmes that protect the position underneath.
- Venture lending
- USD 2M – 40M facilities
- Growth capital
- Minority & structured equity
- Risk
- Bonds, insurance & hedging
USD 1.3 billion
Assets under management
410
Companies financed to date
USD 380 million
Committed reserve & hedging capacity
18
Markets where we hold positions
Capabilities
Four disciplines, one balance sheet.
Most growth companies assemble their financing from four unrelated counterparties. We hold lending, equity and risk on the same books, which is why our terms stay stable when the market does not.
Venture lending
Recurring-revenue and venture debt for companies between Series A and Series D.
Growth capital
Minority and structured equity for companies past product-market fit.
Bonds & structured credit
Private placement and structured note programmes that term out our lending book.
Insurance & risk solutions
Credit, key-person, D&O and asset cover arranged alongside every facility.
Investment policy · reviewed quarterly
Investment strategy
Fund the growth curve.
Then hedge the position behind it.
Our policy follows a company through four stages, and each stage is financed by a different instrument on the same balance sheet — so the cost of capital falls as the relationship matures, not the other way round.
Lend
We enter with revenue-linked debt at Series A–C, sized to the plan the company is actually running rather than the round it last closed.
Grow
Structured equity funds the expansion debt cannot, in one cheque that carries the company through the next two years of hiring and market entry.
Term out
Private placements convert short-dated commitments into fixed-rate capital, so our terms do not move when the funding market does.
Protect
Credit, key-person and liability cover sit behind every position before it is drawn, alongside a reserve for what insurance cannot reach.
Approach
We underwrite
the downside first.
Growth capital only works if it survives the cycle it was raised in. Our underwriting starts with the scenario in which the company does not hit plan, and builds upward from there.
Independent credit committee
Every facility is approved by a committee that reports to the board, not to the deal team. No relationship is large enough to bypass it, and no partner can sign alone.
Hedged by construction
Each commitment is matched with a bond line or insurance cover before it is drawn. We do not lend first and look for protection afterwards.
One partner, one mandate
The partner who signs the term sheet stays on the account through expansion and exit. Decisions do not move to a committee you have never met.
“A financing that needs the best case to work is not a financing. It is an option we have sold ourselves.”
Investment Committee Charter
Enquiries
Start a conversation.
Tell us the objective and the horizon. A partner reads every enquiry directly and replies within two business days.
- Typical mandate
- USD 2M – 40M, 36 – 60 months
- Stage
- Series A through pre-IPO
- Not a fit
- Pre-revenue, consumer credit, retail deposits