When the Covid-19 pandemic began to take hold in the U.S. in March and expand across the country, the financial markets had their greatest period of volatility in more than a decade.
Despite the turmoil, the U.S. venture capital ecosystem proved its resilience and performed surprisingly well in 2020.
Looking forward to 2021, we see another strong year for venture capital and a great awakening for venture debt, a type of debt financing provided to venture-backed companies by specialized banks or non-bank lenders that is less dilutive than equity financing and often complementary to venture capital.
