In this episode, Michael Townsend sits down with Billy Libby, CEO and Managing Partner of Upper90. Prior to starting the fund, he was the Head of Quant Execution and Market Making Sales, Goldman Sachs and Managing Director, Knight Capital.
Upper90 provides non-dilutive growth capital to innovative companies that can demonstrate predictable future revenue or other forms of collateral. Upper90 typically starts with a $2-$10M credit facility with the ability to scale to $25-$50M+ for Seed to Series B businesses.
Launched in June 2018, Upper90 began making founder-friendly credit investments often as a flexible alternative to equity (to protect founding teams and early investors from excessive equity dilution). One-third of their new $195M fund is focused on fintech and they have already invested in Clearbanc, Octane Lending and Fig as well as the first investor in Thrasio.