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  Venture Debt

  Late-stage venture debt hits decade highs as AI startups turn to lenders over equity

  April 24, 2026

  The median late-stage venture debt deal reached $10.8 million in Q1, as capital-intensive AI companies sidestep pre-IPO equity dilution.

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  Venture Debt

  AI mega-deals drive European venture debt, but deal count shrinks

  April 11, 2026

  Interest rate hikes and cautious LPs could test the market’s resilience.

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  Venture Debt

  AI and a new scale of startups took US venture debt funding to another record

  February 2, 2026

  2025 was the second year in a row to see a new high.

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  Capital Pool

  The few and the brave: 6 emerging managers closed private debt funds in H1

  September 30, 2025

  Experienced managers raised 94.5% of the total capital gathered in the asset class for the period.

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  Weekend Analysis

  As venture debt gambles on GPUs, not all are sold on silicon-backed loans

  August 27, 2025

  Lenders see growth and skeptics see risk as billions in venture debt loans are being collateralized against GPUs

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  Venture Debt

  EIB director sees gap in European venture debt for tech-savvy lenders

  July 28, 2025

  Dealmaking in the market slowed this year after a record 2024 for the continent.

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  Private Credit

  Elon Musk’s xAI said to return to the well for $12 billion asset-backed debt

  July 22, 2025

  The AI startup is seeking the debt financing to secure more Nvidia chips to train AI chatbot Grok.

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  Venture Debt

  Early-stage startups take a third of venture debt funding

  July 17, 2025

  Earlier-stage startups are increasingly turning to venture debt, according to the latest PitchBook-NVCA Venture Monitor.

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  Biotech

  With lenders galore, life science companies find debt cheaper

  July 2, 2025

  Lenders cut spreads and eased covenants for borrowers amid increased competition from other debt providers and pressure to deploy capital.

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  Venture Debt

  AI startups gobbling more than a third of venture debt dollars this year

  July 1, 2025

  Venture debt activity has soared, setting a record in 2024.

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  Venture Debt

  Tariff-induced volatility is pushing even more growth-stage startups to venture debt

  April 24, 2025

  Shut out of the IPO market, more mature companies are turning to venture debt, which has seen record growth recently.

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  Private Credit

  Venture lending evolving amid larger deals, equity investor pullback – SVB

  April 21, 2025

  PitchBook LCD spoke to SVB president Marc Cadieux to discuss some of the peculiar elements of this market cycle.

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  Venture Debt

  Venture debt hits all-time high as startups diverge from VC expectations

  February 18, 2025

  Venture debt lenders say their business has hit prime time as startups struggle to raise from traditional VCs.

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  Venture Debt

  Non-bank venture debt lenders profit from rise in loans to growth startups

  November 15, 2024

  Private credit lenders have found an opening where banks have retreated.

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  Venture Debt

  Venture debt activity picks up in Europe

  October 22, 2024

  The year is on track for its third-highest level of venture debt deal value on record.

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  Private Credit

  Ex-Deutsche MD chases $250M for lower-middle-market private debt launch

  August 12, 2024

  Emerging manager Star Strong Capital, run by an ex-Deutsche Bank MD with credit chops, hadn’t booked one down month through May 2024 since launching in 2021.

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  Venture Debt

  Why some European startups are picking debt over equity

  June 28, 2024

  Venture debt deal value has reached record heights in Europe this year, as a challenging equity market pushes startups toward alternatives.

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  Venture Debt

  Spring thaws venture debt market, but not everyone is feeling the warmth

  March 14, 2024

  Entrants post-SVB era precipitated a thaw in the frozen venture debt market.

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