With multiple funding options now available, startups are more flexible than ever when it comes to raising capital for their companies. While traditional funding avenues such as venture capital are more active than ever, more alternative funding options are emerging.
In this episode of The BARE Ventures podcast, Samir Vig interviews Nick Dolik, Senior Vice President, Venture Banking Group, Signature Bank. Here, to present the services offered by Signature Bank and details of the alternative funding environment, Dolik is passionate about being part of a startup.
Listen to the discussion between hosts Samir Vig and Nick Dolik here
How Nick Dolik got started
Nick Dolik was introduced to the business world at a young age, coming from an entrepreneurial line. “I watched my dad grow a tech company in our basement,” he shared. This inspired his leader. After leaving Michigan to work in finance, his move to New York opened the doors for the offices of Goldman Sachs, one of the top five banks in the country. Transitioning to venture debt and startups, Dolik now lives his life funding startup leaders.
“I want to fund startups for the rest of my life,” Dolick told the BARE Ventures podcast.
Signature Bank’s Venture Banking Group
Dolik described Signature Bank prioritizing their relationship with startups. As a “useful partner in the ecosystem” who continuously monitors progress, Dolik highlights key differences between them and other vendors.
“We actually manage our portfolio,” Dolik said.
Although selective, Dolik said they see high-quality startup portfolios as VC-backed businesses. In fact, it is the key to qualification.
“We’re not trying to replace VC, we’re actually very closely aligned with VC,” explains Dolik. “We praise them.”
Alternative financing options for startups
There are many alternatives to term loans and lines of credit. However, it is important to consider the structure and operations of the startup, as one option may be more suitable than the other. To elaborate, some startups may simply not be eligible for specific financing options, such as factoring, depending on how they operate.
Outside of venture capital, Dolik researches other forms of financing, including: senior secured loans, income-based financing, and non-dilutive capital.
Dolik presents a unique perspective on what Signature Bank offers attractive startups. Signature offers one of the cheapest forms of debt and is extremely competitive in the market.
The future of funding
“Entrepreneurs now realize that they can raise money every time they raise money without giving up 20% of the company’s shares,” Dolik emphasized at the start.
Vig brought up the topic of financing horizons, which we are heading in, and invited Dolik to give his insight and judgment. Like other experts, Dolik is optimistic about the growth of the market, aside from the technology as a whole.
“Covid has really driven a lot of supportive things, and we’re seeing venture capital coming into a lot of these markets,” Dolik said.
what to remember
It is critical to recognize the pros and cons of each alternative financing decision. When considering options, consider the cheapest form of debt first, as giving up part of the company is no longer the only way.
“There’s no one size fits all…” Wig said.
Ultimately, the goal is to be fully funded through a manageable, realistic plan.
As a company, BARE Ventures brings together the experience of founders, operators and investors, and is committed to a balanced approach to fund management. With an institutional investment background, BARE Ventures focuses on combining proven traditional approaches with emerging learning in the changing venture capital landscape.
to know more information https://www.barevc.com/.
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Issue number: 132393
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