Capabilities · 02
Growth capital
A single partner should be able to fund two years of expansion without opening the cap table every quarter. Growth capital is how that stays true.
- Stage
- Series B – pre-IPO
- Cheque
- USD 10M – 50M
- Instrument
- Structured preferred equity
- Governance
- Board observer seat
One cheque, two years of quiet
We take minority positions only. Founders keep control; we take an observer seat, agree on a small number of reporting lines, and stay out of the operating cadence unless asked.
Structured preferred lets the return be tuned to the company rather than to a template: a modest liquidation preference, a revenue-linked carry, or a secondary component that lets early employees take something off the table.
Pre-emptive access
We start conversations before the round is live, at a valuation both sides can defend rather than one set by the fastest term sheet.
Diligence with the operating team
Unit economics, cohort retention and the hiring plan are reviewed with the people who will deliver them.
Partnership, not control
One partner on the account, four reporting lines, no consent rights over ordinary-course decisions.
What we look for
The screen, before the term sheet.
- Demonstrated product-market fit with three or more quarters of retention data
- A credible path to profitability that does not require a fourth round
- Founders who intend to run the company through the next stage
- Capital plan that our debt and hedge disciplines can sit behind
Related disciplines
One balance sheetVenture lending
Recurring-revenue and venture debt for companies between Series A and Series D.
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.
Enquiries