Venture debt: A lucrative path for institutional investors
In Part 1 of his series on venture debt, Zack Ellison from Applied Real Intelligence notes that when it is compounded at 15% per year an investment in venture debt over 10 years produces a 4x MOIC.
Venture debt columns
Venture debt: Exploring funding structures
In part 24 of his venture debt series, Zack Ellison of Applied Real Intelligence breaks down the key funding structures behind venture loans and growth credit and how they shape investor control and economics.
Venture debt: Convertible note valuation using a decision tree
In part 23 of his series on venture debt, Zack Ellison from Applied Real Intelligence concludes a three-part deep dive on convertible notes, and walks through an example of a convertible note decision tree, complete with scenario probabilities, financial outcomes and expected value modeling.
Venture debt: How to structure convertible notes to protect against downside risk
In part 22 of his series on venture debt, Zack Ellison from Applied Real Intelligence identifies how investors can structure convertible notes to mitigate downside risk, avoid liquidity traps and better align incentives.
Venture debt: The fundamentals of convertible notes
In part 21 of his series on venture debt, Zack Ellison from Applied Real Intelligence explores the fundamentals of convertible notes and why they are a staple of early-stage financing.
Venture debt: The rise of non-sponsored growth credit deals
In part 20 of his series on venture debt, Zack Ellison from Applied Real Intelligence examines the emerging appeal of lending to non-sponsored, bootstrapped companies.
Venture debt: How lenders can evaluate VCs to mitigate risks in sponsor-backed deals
In part 19 of his series on venture debt, Zack Ellison from Applied Real Intelligence shares how to evaluate VC sponsors to mitigate risk and maximize upside.






