Episode Details

On this episode, Jonathon Ferguson, Co-Founder and Managing Partner at Ashgrove Capital, explains how bespoke financing solutions for B2B software differ fundamentally from both direct lending and venture debt—and why underwriting on conviction rather than exit optionality changes how you structure a deal.Hear how to think about valuing a software business as a lender, why proprietary data sets and vertical specificity have become the clearest hedge against AI disruption, and how performance-linked credit facilities tie capital deployment directly to growth milestones—with capacity that can grow organically as a company hits its plan.