Growth Debt

With this relatively new product we aim to complement venture capital financing to foster further growth for VC-backed start-ups.


  • We focus on VC-sponsored companies with at least $3m in annualised revenue and demonstrated product-market fit. 
  • We finance software and software enabled companies across a range of sectors.
  • We support our companies over time with additional loans and follow-ons available as the companies grow.
  • Loan facilities from as little as  €2m up to €15m, which may be increased further through syndication with reputable international growth debt lenders or co-investors.
  • We also actively support our companies with their fundraising efforts through our extensive network.

Investment criteria

  • Reputable and supportive VC sponsors
  • A strong founding team
  • Demonstrated product-market fit, with at least €3m annual run-rate revenue and year on year growth of 30%+
  • Solid business model with strong unit economics
  • At least 12 months’ cash runway

Growth Debt Product Structure

Growth Debt consists of two components: the Loan and the Warrant.

  • The Loan:
    • A three- or four-year term loan repaid on a monthly basis
    • Monthly payments include interest payment and amortisation of principal (similar to a mortgage)
    • Loan structure can be adjusted through tranching, interest-only periods and early repayment options
    • The interest rate of the loan varies based on the individual company
  • The Warrant:
    • A call option over shares in the borrower at today’s price, typically expressed as a % of the loan provided 
    • Allows the lender to align interests with the company – to grow and provide additional compensation for taking on higher risks than traditional lenders are prepared to take.

Growth Debt use cases

  • Increase efficiency of equity financing through decreasing dilution to founders and other existing shareholders
  • “Insurance Policy” to secure additional runway until the next value-creation milestone
  • Alternative to a convertible loan
  • Bridge to profitability
  • Bridge to an exit

Read more about the benefits of Growth Debt in the articles below

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Click to find out more- Frequently Asked Questions