BTG is a German Venture Debt (VD) fund. VD is essentially senior secured debt financing for venture equity-backed emerging companies that not yet meet the criteria from traditional lenders.

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The advantages of VD are huge both to the borrower, the lender and the borrower's shareholders. Aside from the greater flexibility provided, the borrower can accept the loan without significant equity dilution, as the lender typically gets a small equity warrant on top of the interest.

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BTG is supported by a leading German CVC adviser.

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BTG is raising € 200 million for its 1st fund, expecting a net IRR of 13-15%.

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