Don’T Give Up
TheFunded.com Advice
Posted by 4Technology on 2008-08-31
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It’s pretty rare when an investor gives you a second look, so we’re calling our venture debt round with Velocity a real success in today’s market. It certainly points out there are very specific conditions under which lenders will embrace your technology and help drive it forward. Once you figure those out, the path to funding gets much clearer.
Relationships count. What began as a project to find a venture debt partner for our company turned into an equity round due to often valuable partnerships; and opened the door for a subsequent venture debt round. Having an existing intercreditor agreement with senior lenders also makes a big difference. Again, relationships matter.
Believe it. Jan, JP and Joe at Velocity Financial clealy made the difference. From our first call through extensive due diligence and all the legal docs, it was their belief in our technology that made them feel like part of the team. From the senior due diligence team to the guy getting the paperwork that last mile, these guys make it happen.
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