Partners for Growth

What Partners for Growth does

Partners for Growth (PFG) is a privately held, California-based registered investment adviser that underwrites custom debt solutions for growth-stage technology, fintech, healthcare, and life science companies. Founded in 2004 when co-founders Don Campbell and Andrew Kahn spun out of JP Morgan Partners, PFG traces its lineage to 1985 via Hambrecht & Quist Guaranty Finance (H&QGF). The firm provides bespoke growth debt — including term loans, asset-backed/warehouse facilities, lines of credit, and royalty/revenue-based financing — to companies typically generating $5-150MM in revenue or holding $5MM+ in asset portfolios, with individual loan sizes of $1-50MM. Cumulatively, PFG has deployed over $2.1 billion across more than 250 portfolio companies worldwide.

PFG's underwriting methodology is explicitly "company-centric": the firm evaluates credit profile, asset value, and progress to profitability rather than relying on a VC-syndicate validation lens, making capital accessible to bootstrapped, PE-backed, family-office-backed, and sponsor-led companies. Standardized transaction requirements — security in all assets (senior or subordinate), equity participation via warrants or conversion, and financial covenants tailored to each deal — reflect a covenanted rather than "lighter touch" credit philosophy. The firm operates through 8 locally-embedded offices spanning San Francisco, Boston, Miami, New York, Sydney, Dubai, São Paulo, and Riyadh, staffed by approximately 30+ investment, portfolio management, business development, IR, finance, compliance, and data professionals. Strategic alliances with Silicon Valley Bank (30+ year co-lending partnership), the IFC (World Bank Group, 2022), IDB Invest (2020 Latin America Growth Lending Fund JV), and the Dubai International Financial Centre (October 2025) extend sourcing, co-lending, and emerging-market risk-sharing capabilities.

PFG generates revenue through two primary streams: (1) interest income, fees, and equity participation (warrants/conversion) from directly originated growth debt facilities, and (2) management fees plus carried interest charged to limited partners of its funds via Partners for Growth Managers, LLC (a registered investment adviser; offerings limited to qualified clients under SEC Rule 205-3). In March 2026, PFG held a first close on the PFG Income Fund with investor commitments exceeding A$250 million (~US$178M), a new later-stage technology private credit strategy targeting Australian and global tech-enabled businesses, fintechs, and alternative lenders. The firm operates across North America, Latin America, Europe, MENA, Asia Pacific, and Australia/New Zealand, supported by curated founder/CFO engagement channels such as the invite-only Tech CFO Connect community and co-marketing with SVB.

Name

Partners for Growth

Legal name

Partners for Growth Managers, LLC

Website

https://pfgrowth.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Partners for Growth is a privately held investment adviser providing custom growth debt (term loans, warehouse facilities, lines of credit) to technology, fintech, and healthcare companies worldwide, with 8 global offices and $2.1B+ deployed across 250+ companies since 2004.

Ownership category

akta.pro rank

Product category

Private Credit / Venture Debt Lending

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Independent Venture Debt Funds / Platforms (FSANAIAB)

akta.pro secondary industries

Revenue-Based Financing (RBF) Providers (FSANAIAF), SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Growth debt financing
• Venture debt lending
• Asset-backed lending
• Private credit fund
• Non-dilutive financing

Headquarters

HQ city

Corte Madera

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund management fees and carried interest: Partners for Growth Managers, LLC operates as a registered investment adviser; PFG Funds charge management fees and carried interest to limited partners. Net IRR is calculated net of management fees, expenses, and carried interest. Investment products are offered only to qualified clients under SEC Rule 205-3.
2. Interest income on growth debt and warehouse facilities: Primary economic return: interest, fees, and equity participation (warrants/conversion) from custom term loans, asset-backed warehouse facilities, lines of credit, and royalty/revenue-based financing extended to growth-stage tech companies ($1-50MM loan size range).

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Partners for Growth provides custom, non-dilutive debt capital — including growth term loans, asset-backed and multi-currency warehouse facilities, revolving lines of credit, and royalty/revenue-based financing — to post-revenue growth-stage technology, healthcare, and life science companies. Loan sizes range from $1–50MM for borrowers with $5–150MM in revenue or $5MM+ in asset portfolios, with standard terms of senior or subordinate security in all assets, financial covenants, and equity participation via warrants or conversion. The firm also operates fund vehicles (e.g., PFG Income Fund, Latin America Growth Lending Fund) that charge management fees and carried interest to limited partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Debt Facilities (Term Loans, Lines of Credit, Royalty/Revenue-Based Financing)
• Asset-Backed and Multi-Currency Warehouse Facilities
• PFG Income Fund (Later-Stage Technology Private Credit Fund)
• Latin America Growth Lending Fund

Quantifiable outcome

• Over $2.1 billion deployed in 250+ companies worldwide
• +4 more outcomes

Named customers20 records

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered adjacent, core and flagship.

• Saudi Venture Capital (SVC)adjacentStrategic or Co-development Partner · 16 June 2026PFG is described as having partnered with Saudi Venture Capital alongside DIFC, Sukna Capital, and Jada in supporting the Gulf's tech and private credit ecosystem.
• Sukna CapitaladjacentStrategic or Co-development Partner · 16 June 2026Described as one of PFG's regional partners in the Gulf ecosystem alongside DIFC, Saudi Venture Capital, and Jada; also noted for partnering on a $50M Shariah-compliant lending fund for SMEs.
• Jada (Jada Fund of Funds)adjacentStrategic or Co-development Partner · 16 June 2026Described as a regional partner alongside DIFC, Saudi Venture Capital, and Sukna Capital in supporting the Gulf private credit ecosystem.
• Dubai International Financial Centre (DIFC)coreStrategic or Co-development Partner · 13 October 2025Strategic partnership to provide growth debt to high-growth technology companies in Dubai and the Gulf. Mandate to drive local innovation with additional opportunistic pan-GCC and global transactions; targets sectors like fintech, healthtech, insurtech, and spacetech. Aligns with Dubai's D33 agenda.
• International Finance Corporation (IFC), a member of the World Bank GroupflagshipStrategic or Co-development Partner · 1 January 2022Strategic co-investment program that enhances PFG's sourcing capabilities across global markets. The collaboration gives PFG access to IFC's network of portfolio companies and managers, deepens diligence bench, and broadens reach in fintech and tech-enabled businesses worldwide.
• IDB Invest (Inter-American Development Bank Group)flagshipStrategic or Co-development Partner · 1 January 2020PFG leads a joint venture with IDB Invest via the Latin America Growth Lending Fund, providing debt capital to emerging innovative tech companies across the region. The partnership extends IDB Invest/IDB Lab's early-stage VC efforts and ensures companies can scale beyond Series A with flexible, minimally dilutive capital.
• Silicon Valley Bank (SVB)flagshipStrategic or Co-development Partner · 1 January 198730+ year global strategic partnership since the late 1980s. PFG and SVB have collaborated as co-lenders across the U.S. & Canada, Europe, Middle East, Asia, and Latin America, including a co-managed Venture Debt Latin America Growth Lending Fund. PFG/SVB extend each other's ability to reach new markets and provide deeper capital to high-growth companies.

Scale indicators15 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• TriplePoint Capital: TriplePoint Capital is a venture lending firm providing growth capital to technology and life science companies. Comparable in growth-debt focus, deal size range, and warrant participation structure.
• Hercules Capital: Hercules Capital is the largest publicly traded specialty finance company focused on venture debt to technology, life sciences, and sustainable technology companies. Directly comparable in target borrower profile and debt product set, but at significantly greater scale and public-market valuation.
• Horizon Technology Finance: Horizon Technology Finance is a specialty finance company providing venture debt to development-stage technology, life science, healthcare, and sustainability companies. Directly comparable in deal-size range and target verticals.
• Runway Growth Finance: Runway Growth Finance is a publicly traded specialty finance company providing senior secured term loans to venture and non-venture-backed growth-stage companies. Closely comparable in growth-stage tech focus and bespoke underwriting approach.
• Western Technology Investment (WTI): WTI is one of the longest-standing independent venture debt funds in Silicon Valley, providing growth capital to tech and life science companies. Closest analogue to PFG in business model, vintage (founded 1980), and underwriting approach, though more US-centric.
• Trinity Capital: Trinity Capital is a publicly traded specialty finance company providing venture debt and equipment financing to growth-stage tech and life science companies. Comparable in product mix (term loans, asset-backed facilities) and target borrower segment.
• Cambridge Capital Funding: Cambridge Capital is an asset-based lender providing senior debt to growth-stage and technology-enabled companies. Comparable in structuring bespoke working capital and asset-backed facilities for tech borrowers.

Broad incumbents

• Bridge Bank (Western Alliance Bancorporation): Bridge Bank, a division of Western Alliance, provides venture debt and technology banking to growth-stage companies. Broad incumbent competing in PFG's US segments with deeper capital base and deposit-funded cost of capital.

Emerging players

• Clarity Capital Solutions (Halo Capital): An emerging fintech-focused private credit provider extending structured debt to early-growth fintechs and embedded finance platforms. Niche overlap with PFG's fintech warehouse financing capabilities.
• Clearco: Clearco is a revenue-based financing provider to e-commerce and SaaS businesses. Comparable as a non-dilutive growth capital provider to tech founders, though at smaller ticket sizes and primarily North American.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/partners-for-growth

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments101 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Partners for Growth