TLDR:
- A new venture debt fund called Conductor Capital, started by former Signature Bank of New York bankers Dhruv Patel and Zack Mansfield, is targeting $35 million.
- The fund aims to provide growth-oriented debt capital for high-growth technology companies, with investments ranging from $2 million to $10 million.
Former bankers from Signature Bank of New York, Dhruv Patel and Zack Mansfield, are in the process of launching a new venture debt fund in North Carolina. The fund, named Conductor Capital, is targeting $35 million in investments. Patel, a former senior vice president at Signature’s venture banking group, and Mansfield, the former managing director of the same group, have yet to secure any funding, but are anticipating a first close soon.
Conductor Capital’s mission is to provide growth-oriented debt capital for high-growth technology companies. The fund seeks to invest between $2 million and $10 million in growth-stage tech companies, offering more flexible financing solutions compared to traditional bank debt while being less dilutive than venture equity. The company’s website emphasizes its commitment to helping companies with well-defined unit economics scale efficiently.
In addition to Patel and Mansfield, Conductor Capital’s co-founders include industry veterans like Kyle Porter, Tope Awotona, David Cummings, and Nat Turner. The team is described as a “founders circle” with well-known names in the entrepreneurial world, such as Henry Kaestner and Michele Perry.
Patel and Mansfield, who previously worked together at Square 1, decided to start Conductor Capital after the demise of Signature Bank of New York. Following a series of bank failures, Customers Bancorp acquired Signature’s assets, prompting Patel and Mansfield to explore new opportunities in the venture debt space.
The fund’s approach is rooted in empowering entrepreneurs by providing strategic capital to fuel their growth. With a focus on high-quality technology companies backed by sponsors, Conductor Capital aims to fill the gap left by traditional financing options, offering a tailored approach to meet the specific needs of each company.
