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The Rise and Fall of Venture Debt
I feel like over the last five years, entrepreneurs have gotten a lot smarter about how debt works for them and maybe some non-traditional applications of debt. Venture debt lender is looking to a heavy degree to the sponsors, the venture capitalists that are backing that company with equity. If that's not in the picture, it's not viable via a bank venture debt lender or a non-bank venture debt lender. So I think that's where people get a little bit hung up or confused is, oh, okay, I can get a venture debt. Well, I canget a venture or do you institutional venture capital backed and who is the actual venture capitalist because they're not all the same?