Venture Debt Deals: How to Fund Growth with Less Dilution - Hardcover

Venture Debt Deals is the first founder-friendly guide to venture debt fundraising and term sheets. Written by innovation lending veteran Marshall Hawks, the book provides a clear, practical framework for understanding how venture debt really works-and how founders can use it to fund growth with less dilution.

Drawing on more than two decades in venture banking, including sixteen years at Silicon Valley Bank, Hawks explains the structure, strategy, and incentives behind every major term-from warrants to covenants-and shows how debt can complement equity rather than replace it. The book walks readers through the full process, from evaluating lender options and understanding term sheets to managing diligence, negotiating key terms, and maintaining productive relationships with lenders.

Venture Debt Deals also includes five detailed case studies illustrating how real founders have successfully (and unsuccessfully) used venture debt. Written for founders, CEOs, CFOs, and investors, this is a comprehensive reference for anyone seeking to use debt effectively within the innovation economy.