Insights

I have worked in the credit markets since 2006, first as a bank and non-bank credit investor and, more recently, advising borrowers through Axis Group Ventures. Across venture debt, asset-based lending, recurring-revenue facilities, cash-flow loans, structured credit, and other private-credit transactions, I have seen lending relationships evolve through many stages of a company’s life. Sometimes a refinancing is driven by financial pressure. Sometimes a company has simply ou

Growth-stage companies across North America are becoming increasingly selective about equity dilution as venture fundraising timelines lengthen, valuation discipline tightens, and liquidity events remain constrained across private markets. In a market defined by longer fundraising cycles, valuation pressure, and higher capital costs, founders are reassessing how growth capital is structured. Non-dilutive funding, once viewed as supplemental financing, has become a core part o

For many founders and CFOs evaluating financing options, one of the first questions is whether their company is better suited for cash flow lending or asset-based lending (ABL). Both structures can provide meaningful access to capital, but they operate very differently. Cash flow loans are typically sized based on earnings performance and credit metrics, while asset-based lending facilities are structured around specific collateral such as receivables, inventory, or equipment

Understanding the dynamics of interest rates is crucial for any growth-stage company aiming to optimize its capital structure and unlock liquidity. These rates influence borrowing costs, investment decisions, and overall financial strategy. In this post, we will walk you through the fundamentals of interest rates, their impact on businesses, and practical ways to navigate this complex financial landscape. The Impact of Interest Rates on Business Strategy Interest rates play a