Decades of global experience in venture and growth structures
Venture and growth debt offers startups a way to borrow between equity rounds. We act for banks and non-regulated lenders on structuring, drafting and negotiating these transactions.
Our venture and growth lending experience crosses the US, the UK, Ireland, Europe and Asia Pacific. So you get exclusive insights into market terms and deal structures.
Our lawyers have been implementing venture and growth structures for decades. This type of debt is popular among venture capital-backed and private equity-backed companies. It doesn’t dilute investors’ equity and doesn’t create a pricing event.
Early and mid-stage venture capital-backed companies often need to scale their operations and lengthen the cash runway between equity rounds or an M&A deal. We advise banks, credit funds – public, private and SBIC – and BDCs on their lending activities with these companies. This includes domestic and international receivables, term loans and equipment financing facilities, inventory and recurring revenue-based lines of credit, and related warrant and equity rights.
“Our lawyers have been implementing venture and growth structures for decades.”
Likewise, later-stage venture capital-backed and private equity-backed companies often need new capital to achieve profitability, or for an IPO, M&A or recapitalization. Our bank and private credit fund clients provide cash flow facilities, pre-IPO facilities, asset-based lines of credit, hybrid debt and equity facilities, acquisition and buyout facilities, senior and mezzanine term loans and other structured debt arrangements.
We’re 600+ lawyers globally, including our Emerging Growth and Venture Capital practice, which advises founders, entrepreneurs, tech companies, venture funds and financial institutions in this dynamic space. Working with our venture capital team gives us a broad view and a deep understanding of the pressures startups are under.
Our experience in drafting financing documentation – whether for bilateral, co-lender, senior-only or multi-lender transactions – makes a real difference. We understand multi-layered funding and the various intercreditor and security trust arrangements. So our advice takes account of the commercial rationale behind your transactions.
Our clients also benefit from the vast experience of our colleagues in business-relevant legal areas, such as tax, IP, corporate, insurance, life sciences, regulatory and litigation.
