11min chapter

Animal Spirits Podcast cover image

Talk Your Book: Growth Stage Debt Investing

Animal Spirits Podcast

CHAPTER

Evolution to an Internally Managed BDC with Efficient Capital Access

This chapter delves into the transformation of a company from equipment financing to a BDC without management fees, enabling efficient capital acquisition and a premium trading position. It explores the process of venture debt investing, outlining the profile of companies seeking venture debt, underwriting criteria, default rates, and how warrants offset losses with substantial gains.

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