
Alternative Investments
Hercules Capital Closes $2.3 Billion Across Two Private Credit Vehicles
Hercules Adviser closed two private credit vehicles in September 2026, raising $2.3 billion. The Evergreen Fund offers perpetual LP access while Growth Lending IV follows a closed-end model.
Jeff Barnes, MBA··10 min read

Venture Capital
Venture Debt: What It Is, Who Uses It, and When It Makes Sense vs. Equity
According to the 2025-2026 Venture Debt Report from Runway Growth Capital and PitchBook , U.S. venture debt reached $68.8 billion in 2025 across approximately 1,000 deals — the highest annual volume o
Jeff Barnes, MBA··18 min read

Venture Capital
Venture Debt Explained: When Startups Borrow Instead of Dilute
The US market hit a record $68.8 billion in 2025. Current rates run 10-14% annually with warrant coverage of 0.05-2%, far cheaper than the 15-25% dilution from a typical equity round. SVB's collapse i
Jeff Barnes, MBA··8 min read