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OPM Capital

Venture Debt + Warrant Coverage

Extend runway 6–12 months post-equity-raise with minimal dilution.

Overview

Post Series A/B, venture debt (SVB successors, TriplePoint, Trinity) provides 25–35% of the last equity round as 3–4 year term debt at SOFR + 4–6% plus 5–15% warrant coverage. Extends runway without a dilutive down-round. Financial covenants tighten if metrics slip.

Best fit
VC-backed startups post Series APredictable ARRBridge-to-milestone plays
Estimated impact
Save 15–25% dilution vs additional equity round

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