Tech distressed debt?

Hi guys:

I've been reading that some firms are investing in bonds/debt of technology companies. I was wondering if any of you could tell us a bit more about this strategy - my very rudimentary understanding is that tech companies can be asset light - in that case, how does one think about investing in their debt esp. in distressed situations, or even just lending to them in general? What would you be evaluating?

Thanks!

 

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