Deal Dive: Maybe venture debt works for asset managers after all

Blackstone last August was looking to put $2 billion toward lending to startups and tech companies, according to The Information. But venture debt lenders remain skeptical that the asset class’s small checks are worth it for asset managers and their large LPs. Recently, a few lenders told me they didn’t think we’d ever see the large credit shops add a venture debt strategy.
Now, BlackRock is saying, “Hold my beer!”
Last week the absolutely sprawling asset manager BlackRock, with its $106 billion market cap, announced that it was going to acquire Kreos Capital, a London-based

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