Galvanize targets venture debt amid private credit boom

Galvanize targets venture debt amid private credit boom

Tom Steyer’s Galvanize is targeting venture debt, focusing on lending to early-stage companies, but avoiding the private credit market as it swells to about $3tn, according to a report by Bloomberg. Venture debt has been recovering since the 2023 collapse of Silicon Valley Bank, which caused a 20% fall in volume. Chris Creed, who joined Galvanize this year from the US Department of Energy, said the firm is avoiding most of the private credit mar…