Armentum Partners

What Armentum Partners does

Armentum Partners is a full-service independent investment bank specializing exclusively in debt and non-dilutive capital raising for growth-stage technology and healthcare companies. Founded in 2012 and headquartered in Menlo Park, California, the firm places its core mandate in two verticals — healthcare and life sciences (therapeutics, medical devices, diagnostics, pharma services) and technology (enterprise software, consumer/internet, fintech, digital media) — where it provides transaction sizes typically ranging from $20 million to $500 million per mandate. The firm operates as an intermediary between borrowers and a curated network of more than 250 lenders spanning banks, venture debt providers, late-stage lenders, asset managers, hedge funds, family offices, and strategic lenders. Service offerings span the full debt product set: bank facilities, first and second lien term loans, unitranche structures, subordinated debt, venture debt, cash flow loans, enterprise value loans, asset-based facilities, and royalty financing.

The firm generates revenue through transaction-based advisory fees on debt placements, supported by quantitative and qualitative analytical services including cost-of-capital analysis, cash runway impact modeling, covenant flexibility assessment, and lender reputation diligence. Senior bankers (four Managing Partners with 100-150 years of combined experience) are involved at every stage of the engagement. The go-to-market motion is direct enterprise field sales: senior partners originate and lead mandates with growth-stage borrowers across North America, Europe, and Australia, with recent geographic expansion into Europe formalized through a 2025 hire of a European coverage principal.

Armentum reports cumulative activity of approximately $16 billion raised across more than 350 transactions since inception, including roughly $5 billion in the trailing two years and approximately $2 billion in 2024 alone. The firm maintains offices in Menlo Park, New York, Boston, Philadelphia, Chicago, and San Francisco. Securities are offered through a third-party broker-dealer (LCT Capital, LLC, FINRA/SIPC member). The firm is privately held, founder-led, and unbacked by external venture or private equity sponsorship.

Name

Armentum Partners

Legal name

Armentum Partners

Website

https://armentumpartners.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Armentum Partners is a Menlo Park-based independent investment bank that advises growth-stage technology and healthcare companies on debt and non-dilutive capital raises, typically $20M-$500M per transaction, across North America, Europe, and Australia.

Ownership category

akta.pro rank

Product category

Investment Banking and Debt Capital Advisory

NAICS

Credit Intermediation and Related Activities (522), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Investment Advice (6282), Loan Brokers (6163)

akta.pro industry

PRIMARYBPAHAOAD

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

SECONDARYFSAEAGAD

Debt Advisory & Financing Advisory

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/M&A Advisory & Corporate Finance

SECONDARYBPAHADAB

Corporate Finance & Capital Advisory

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Strategy & Corporate Finance Advisory

SECONDARYBPAHADAM

Treasury, Capital Structure & Liquidity Advisory

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Strategy & Corporate Finance Advisory

Keywords

• Debt capital advisory
• Investment banking services
• Venture debt financing
• Non-dilutive capital
• Healthcare debt advisory

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Advisory Fees: The firm generates revenue through advisory fees for debt capital raising services. As an investment bank, they earn fees for structuring and closing debt transactions for clients. Transaction sizes typically range from $20 million to $500 million per transaction.
2. Debt Capital Advisory: The firm provides comprehensive debt capital advisory services including cost of capital analysis, debt impact on cash runway analysis, and structuring of optimal debt solutions. Revenue is generated through transaction-based advisory fees for non-dilutive capital raising solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

Armentum Partners is a full-service investment bank that focuses exclusively on debt and non-dilutive capital raising solutions for growth-stage technology and healthcare companies across North America, Europe, and Australia. The firm arranges a full spectrum of debt instruments, including bank facilities, venture debt, first and second lien term loans, unitranche loans, subordinated debt, asset-based lending structures, enterprise value loans, royalty financing, and cash flow loans. Each engagement is led by senior bankers who provide cost of capital analysis, cash runway impact assessment, covenant flexibility review, and lender reputation analysis from introduction through closing.

Product overview

Armentum Partners is a full-service independent financial advisory firm that operates as a debt capital advisory investment bank. The firm focuses exclusively on raising debt and non-dilutive capital solutions for growth-stage technology and healthcare companies. Its core offering is debt capital advisory services, supported by a comprehensive suite of debt instruments including bank facilities, venture debt, first and second lien term loans, unitranche structures, subordinated debt, royalty financing, asset-based facilities, and enterprise value loans. The firm operates across North America, Europe, and Australia with managing partners having worked together for over a decade.

Differentiator

Problem solved

Functional benefit

Products and services

• Debt Capital Advisory Services Full-service investment banking mandate focused exclusively on arranging debt and non-dilutive capital solutions for growth-stage technology and healthcare companies, including lender sourcing, structuring, negotiation, and execution support.
• Bank Facilities Advisory Advisory and arrangement of traditional bank debt financing solutions, including revolving credit facilities and term loans sourced from commercial banks.
• Venture Debt Advisory Advisory and arrangement of non-dilutive debt financing specifically designed for venture-backed growth-stage companies, typically structured with warrants or success fees alongside principal and interest.
• First Lien Term Loan Advisory Advisory and arrangement of senior secured term loans with priority claim on collateral, typically used for growth capital and refinancing by growth-stage companies.
• Second Lien Term Loan Advisory Advisory and arrangement of subordinated secured term loans that rank behind first lien loans in priority of repayment, providing incremental debt capacity.
• Unitranche Debt Advisory Advisory and arrangement of unitranche debt facilities, which combine first and second lien debt into a single instrument from one lender, simplifying capital structure and decision-making for borrowers.
• Subordinated Debt Advisory Advisory and arrangement of subordinated debt instruments without security claims on specific collateral, typically carrying higher interest rates to compensate for subordination risk.
• Enterprise Value Loan Advisory Advisory and arrangement of enterprise value loans, which are debt facilities underwritten based on a borrower's enterprise value rather than traditional cash flow or asset coverage metrics.
• Cash Flow Loan Advisory Advisory and arrangement of cash flow loans and asset-based lending solutions underwritten on the basis of business fundamentals, recurring cash flow, or specific asset collateral.
• Asset-Based Lending (ABL) Advisory Advisory and arrangement of asset-based lending structures that provide capital secured by specific company assets, such as receivables, inventory, or equipment.
• Royalty Financing Advisory Advisory and arrangement of royalty financing transactions in which investors provide non-dilutive capital in exchange for royalty payments based on the borrower's future revenue.

Named customers19 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• TriplePoint Capital: Venture debt lender serving growth-stage technology companies. While a lender rather than advisor, sits directly on the other side of Armentum's transactions and shapes the competitive landscape for venture debt.
• Hercules Capital: Publicly traded specialty finance company providing venture debt to technology and healthcare growth companies. Direct counterparty on many of Armentum's financings and a leader in venture debt origination.

Broad incumbents

• PJT Partners: Global advisory firm with strong debt advisory and capital markets practices. Competes for larger debt capital mandates and provides benchmark reference for capital structure advisory fees in growth markets.
• Stifel Financial: Full-service broker-dealer and investment bank with healthcare and technology debt capital markets capabilities. Competes for larger debt advisory mandates in Armentum's core verticals.
• Oppenheimer & Co. Full-service investment bank with debt capital markets, equity research, and advisory practices. Managing Partner Hutch Corbett's prior firm; competes broadly for technology and healthcare debt advisory mandates.
• Houlihan Lokey: Global investment bank with deep debt advisory, restructuring, and capital markets practices. Competes for larger debt mandates but provides reference pricing and capability set across the credit-advisory spectrum.
• SVB Securities (formerly SVB Leerink): Healthcare-focused investment bank offering debt capital markets and equity advisory. Larger, established platform with broader service offering but direct overlap in healthcare growth-stage debt advisory.

Direct peers

• FocalPoint Partners: Specialty investment bank providing M&A and capital advisory to technology, healthcare, and business services companies. Most direct competitor in growth-stage tech/healthcare debt and equity advisory, with a comparable boutique footprint.
• Woodside Capital Partners: Technology-focused boutique investment bank providing capital raising, debt advisory, and M&A services. Direct overlap in growth-stage technology debt advisory, with similar client profiles.
• Cascadia Capital: Independent investment bank focused on M&A and capital raising for technology, healthcare, and consumer companies. Comparable in size and vertical focus, often working with growth-stage borrowers on debt and equity transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/armentum-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments119 records

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

Frequently asked questions about Armentum Partners