Non-Dilutive Funding
定义
Non-dilutive funding is capital that does not take equity: grants, revenue-based financing, venture debt (mostly), tax credits, and customer prepayments.
它在融资中如何出现
Founders layer non-dilutive sources onto equity rounds to extend runway without selling more of the company.
常见问题
What are common non-dilutive sources for startups?
Government innovation grants, R&D tax credits, revenue-based financing against recurring revenue, and venture debt alongside an equity round.
Is venture debt really non-dilutive?
Mostly: it usually includes small warrants, so it costs a sliver of equity rather than none.