March 31, 2023

8:00 AM - 9:00 AM

Breakfast

9:00 AM - 9:10 AM

Opening Remarks

9:10 AM - 9:35 AM

Presentation

A Technical Breakdown of Venture Debt Underwriting Models

  • Underwriting models – Sponsor-driven vs. company fundamentals-driven vs. structured deals
  • Similarities and differences / Pros and cons
  • The benefits of properly structured venture debt to companies, management teams, investors, and lenders
  • Use cases of different venture debt models for win/win/win results

speaker-1

Dan Devorsetz

Chief Operating Officer and Chief Investment Officer
Horizon Technology Finance

Speaker

9:40 AM - 10:05 AM

Presentation

Exploring Revenue-Based Funding for Recurring Revenue Business Models

  • Overview of how the "RBF" strategy works
  • Understanding the offer: funding amount, share %, average monthly revenue, repayment period
  • Flat fee vs. variable collection
  • Examples: revenue-based funding in action

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John Borchers

Managing Director
Decathlon Capital

Speaker

10:10 AM - 10:35 AM

Presentation

Lender Landscape: The Current State of Small Business Lending by FinTechs

  • Why FinTechs are typically faster to fund
  • How your company builds credit when other scoring models are taken into account
  • Streamlined operating structure removes many pain points for SMBs
  • Blockchain systems and other tech enhancing security

speaker-1

Thomas Ritchie

Senior VP of Capital Markets Exec. of Investor Relations
Biz2Credit

Speaker

10:40 AM - 11:15 AM

Presentation

Venture Debt: Trends & Traction

  • Fresh data and insights from Runway’s Venture Debt Review, 3rd edition
  • Actionable information for entrepreneurs, venture funding providers and lenders, as well as commercial bankers
  • An evaluation of the current market sentiment for venture debt

speaker-1

David Spreng

Chairman, Founder, CEO, and CIO
Runway Growth Capital

Speaker

11:15 AM - 11:45 AM

Networking Break

11:45 AM - 12:25 PM

Panel

Fundraising For Venture Debt Funds

  • Explaining the value of your strategy to prospective investors
  • Working with pension fund managers
  • Promoting private credit venture debt funds as an attractive but separate asset class
  • Focusing the fund on a specific market sector to attract savvy investors
  • Partnering with VC firms: pros and cons
  • Biggest concerns that equity investors and companies have when raising venture debt

speaker-1

Kai Tse

Managing Partner
Structural Capital

Panelist

speaker-2

John Markell

CEO
Armentum Partners

Panelist

speaker-3

David Teten

Founder
Versatile Venture Capital

Panelist

12:30 PM - 12:55 PM

Presentation

Highlighting the Differences Between Venture Debt Use in Banks vs. Funds

  • Banks may have lower cost of capital
  • Funds may not be as constrained by banks in the amount they can invest
  • Who is typically more supportive – banks or funds?
  • Understanding financial covenants
  • Due diligence: just as important for investors as companies

speaker-1

Catherine Jhung

Senior Managing Director, BD
Hercules Capital

Speaker

1:00 PM - 1:25 PM

Presentation

Venture Debt for the Borrower’s Perspective: What Your Terms Need to Be to Win a Deal

speaker-1

Dolph Hellman

Partner, Mergers & Acquisitions, Banking & Finance
Orrick

Speaker

1:25 PM - 2:25 PM

Lunch

2:25 PM - 2:50 PM

Presentation

Lessons from a Recovering Venture Capitalist: The Realities of Raising Capital

  • Revealed: why you may not be receiving term sheets or funding
  • Considering funding paths that align with founders' ownership preferences and company goals
  • Removing inefficiencies in raising capital -Understanding the costs, both obvious and obscure of a capital raise
  • Planning the fund-raising cycle for success

speaker-1

Melissa Widner

CEO
Lighter Capital

Speaker

2:55 PM - 3:30 PM

Presentation

The Impact of ESG Focused Finance in Venture Debt

  • Trending: Venture debt funds being created for socially responsible companies lacking access to traditional financing
  • Understanding the benefits of ESG-focused finance: funding sustainable businesses with liquidity problems, avoiding lost employment of vulnerable groups, mobilizing capital from co-investors
  • Promoting impact investment to achieve collaboration and sustainability
  • Selection considerations when funding ESG-focused companies

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Louis Lehot

Partner
Foley & Lardner LLP

Speaker

3:30 PM - 4:00 PM

Networking Break

4:00 PM - 4:25 PM

Presentation

Why Late-Stage Venture Lending is Still the Domain of Banks and Business Development Companies

  • VC Firms still more likely to invest at expansion stage
  • Biz dev firms and banks attracted to companies nearing a liquidity event (sale, IPO)
  • Bank and biz dev solutions won’t cause dilution
  • Understanding the role warrants play in late-stage venture lending

speaker-1

Spring Hollis

Founder and Managing Partner
Star Strong Capital

Speaker

4:30 PM - 4:55 PM

Presentation

Understanding the Targeted Marketing of Business Credit Cards to VC-Backed Startups

  • How to define the addressable market for targeting business credit cards to startups
  • What’s the best channel strategy to reach the target
  • What are the key differentiators in the value proposition to attract this unique segment
  • How to develop brand advocates to support social media marketing
  • How to make credit decisions when your target market customers are pre-revenue

speaker-1

Steve Kietz

CEO
Reliant Funding

Speaker

5:00 PM - 5:10 PM

Closing Remarks

Timely Topics and Innovative Programming

Here are some of the unique presentations and panel discussions we’re developing for The Venture Debt Conference:

  • Industry dynamics: The size and shape of the venture debt market, historical performance and future growth projections
  • Understanding the venture debt underwriting process: Creditworthiness and assessment of equity sponsors
  • Understanding debt structures for working capital vs. growth capital
  • Timing considerations: Raising debt alongside equity, raising between equity rounds, raising to fund an acquisition and the unique considerations of each approach
  • Typical financing terms of venture debt and how they differ from traditional bank loans
  • Common venture debt options including equipment financing, accounts receivable financing, and term loans
  • How companies are using venture debt to extend their cash runway and minimize equity dilution
  • The lender landscape: Commercial banks, specialty finance firms, alternative lenders, business development companies
  • Exploring revenue-based funding for recurring revenue business models
  • Senior venture loans vs. subordinated debt structures
  • Royalty-based funding for life sciences companies
  • Why late-stage venture lending is still the domain of banks and business development companies 
  • Using hybrid securities including convertible bonds, preferred stock, and debt with warrant kickers
  • Understanding the use of convertible debt at both early and late-stage private companies
  • Alternative lending structures including lines of credit, bridge loans, factoring, and merchant cash advances
  • Understanding the targeted marketing of business credit cards to VC-backed startups
  • How macro credit conditions and economic indicators impact the venture debt market
  • Market participants: Lenders, underwriting and credit companies, loan servicers, and loan brokers
  • Understanding possible headwinds in lending to startups including rising interest rates, increasing defaults, and reduced equity funding
  • Evaluating the growth of the venture debt market by sector

The Venture Debt Conference program is currently in development.
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Call us at (516) 876-8006 or email team@dealflowevents.com.

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