Definition
Growth capital
Later-stage funding for companies with proven revenue, usually less dilutive per dollar than early venture and often structured with a liquidity component for existing holders.
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Related terms in Startups & Fundraising
Feasibility studyThe engineering and economic study that determines whether a mining project can proceed to construction.Freedom to Operate (FTO)An analysis that determines whether a product, service, or process can be commercialized without infringing on valid patent rights held by third parties. An FTO clearance does not mean the inventor's idea is patentable — it means the inventor can build and sell without risk of infringement litigation. Ophir frames FTO as the first question every founder should answer before raising money, hiring engineers, or talking to customers: if someone else owns the rights to your core mechanism, finding out on day zero costs almost nothing; finding out at Series A or after a lawsuit is potentially company-ending.Generalist FundA venture fund that invests across multiple industries and sectors rather than specializing in one vertical.Good Money on Bad MoneyThe pattern of continuing to invest in a strategy that has already failed, hoping additional capital will change the outcome. A founder trap where sunk cost psychology overrides clear evidence that the go-to-market hypothesis is wrong.Growth EquityA stage of investing that sits between venture capital and private equity, typically funding businesses with proven product-market fit and revenue between $5M and $50M.Halo CompanyBryce and Ryan's term for businesses with high physical assets and low risk of digital obsolescence. AI amplifies rather than replaces them.Holdco (holding company)A parent entity that builds, funds, and operates multiple portfolio companies with shared infrastructure, like Infinity Constellation.Idea ValidationThe process of gathering real-world evidence that a problem exists, that your target customers experience it acutely, and that they would pay for a solution — before building the product. Validation is evidence, not enthusiasm or polite interest.