Raising money is never easy, even in this world flush with liquidity, but raising the right capital is extremely important. Every founder should understand their choices.
My friend William (Bill) Libby joined me on ‘Panic With Friends’ to talk about growth and credit facilities and the concept of ‘Delay the A’.
Bill founded Upper 90 which is a fund that provides credit facilities to startups for growth:
Upper90 provides non-dilutive growth capital to innovative companies that can demonstrate predictable future revenue or other forms of collateral. We typically start with a $2-$10M credit facility with the ability to scale to $25-$50M+ for Seed to Series B businesses. Launched in June 2018, we began making founder friendly credit investments often as a flexible alternative to equity (to protect founding teams and early investors from excessive equity dilution). Already, we have deployed over $500M in support of the companies with which we have partnered. Want to learn more? Click here to read what a representative sample of our portfolio companies say about us.
Before starting the fund, Bill was Head of Quant Execution and Market Making Sales at Goldman Sachs and Managing Director at Knight Capital.
Upper 90 has had a lot of early success and just completed raising their fund 2 of $150 million. They were early credit providers to Thrasio which ‘Buys Amazon BUsinesses.
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