Growth Credit
At a growth/venture debt shop lending $20-75mm+ at close to cash burning/ebitda breakeven high growth companies, had experience in Lev Loan before.
Currently an 2nd yr asso in non-NYC city making $130+40% bonus although hour is generally 50 per week.
Any advice on next steps/view from outside (viable path)? Move to LevLoan for money?
Thanks in advance!
(UW process akin to lev lending’s, but we focus on product/market/EV rather than true venture debt banks like SVB)
Tough to lateral to DL now that ARR LBO lending has cooled a bit. Know the venture debt space well and you need to find someone who might to Tech lending across venture and sponors like Vista Credit if you want to do PC. I'm sure you could find some bank levfin group to pick you up at some level of associate. Personally I think Venture debt is alot of mezz/2L returns for venture equity risk, not a trade I'd make unless its IPO bridge lending so hard to find someone that would respect your skillset in normal DL (top quartile of shops) but probably could find something in bank levfin for sure.
First and foremost, thanks! Just a quick follow up, 1) for lateral to DL path: does it make any difference if my team also does like traditional MM loans + half of the book is non-software stuff, or the name growth credit on my CV already scare ppl off? 2) do u think hybrid or true mezz shop would be possible (understanding won’t be easy) since we write some pref equity checks as well to top off the rounds.
Thanks again
1) If you are doing non-software traditional MM DL thats an easier story. I think they look at your reps and maybe have you repeat your 2nd year associate role if its a top shop/or sticklers. Also easier to break-in at Ass1/2 then Sr Ass. 1/2 unless you are joining a new platform which has it's own set of issues.
2) Depends on what end of the market you want to do it. Alot of hybrid capital deals get done in large cap/Upper MM market or LMM/SBIC market. The LMM/SBIC def easier to get and way more chill. I think hybrid capital def possible call some recruiters and make a case for why you want to switch.
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