Independent, specialist growth debt solutions for late and growth-stage companies
We partner with passionate and driven management teams to find non-dilutive capital solutions to support their growth ambitions. Growth debt is minimally dilutive allowing founders and investors to retain significantly higher ownership of the business compared to traditional equity financing. Our objectives are fully aligned with our clients’ objectives. We offer independent, innovative advice with market-leading access to world’s most prominent credit and hybrid capital investors.
Our Philosophy
Our role is to be your trusted partner. We build long term relationships with complete alignment of interest. We have no hidden agenda or motivation driven by the need to secure future cross sell of ancillary business. We pride ourselves on being supportive partners, dedicated and driven to help our clients find the right capital partners, offering access to the debt capital, knowledge and networks they need to build a successful business. We ensure a flexible and innovative solutions tailored to the companies needs that could include senior secured term loans, off-balance sheet asset-backed financing, recurring revenue financing, IP-backed loans, venture debt and convertibles.
Execution Considerations
Growth debt process is often similar in nature to that of an equity private placement. Depending on Company preparation (marketing material, financial model, virtual data room completeness), the overall fund raising process takes between 8 to 10 weeks. We target up to 20 lenders in a highly focused process having pre-sounded investors in advance. We then narrow down detailed diligence discussions to the 4 most suitable investors, securing term sheets from a minimum of 2 lenders. This process ensures our clients receive the most competitive terms available in the market, not simply the first available terms.
What We Look For
Financing needs of between $30m and $500m (EUR/ GBP equivalent) •
Stable revenues of in excess of $30m and enterprise value of more than $100m
Positive EBITDA or near term path to profitability with positive unit economics, recurring revenues, and / or asset collateral
Use of proceeds to fund growth, bolt-on acquisitions, extend runway or finance assets
Industries include consumer internet, enterprise software, fintech, marketplaces, digital commerce, healthcare, mobility, life sciences, energy transition and consumer subscription
Qualitative factors include significant market share; unique platform, product or service; strong IP or brand recognition with high barriers to entry; compelling macro dynamics; proven business model; strong founder and management teams, backed by VC, PE and founders
Quantitative factors include multiple years of revenue with a high recurring nature or asset collateral; business profitable on steady state; minimum committed liquidity until next milestone event; robust data to support quality of the revenues including cohort analysis and retention rates