The opportunity set [in venture debt] is very large. I think there are more people that are seeking it and more opportunities to go out and find funding outside of traditional banks that may be more advantageous. Venture debt specifically is interesting. One of the things as I’ve reviewed it over the last couple of years is the low LTVs with high yields. The LTVs on most of the venture debt deals that I have looked at are so low. There’s a lot of protection there for the credit investor. If there is a default, there’s the ability to come in and there’s plenty of coverage to be able to cover the amount that’s being lent there. So that’s really interesting.
The opportunity set [in venture debt] is very large
