As an early-stage founder, access to non-dilutive capital is essential. Equity is necessary but expensive. Novel had a thoughtful and straightforward process to evaluate and fund an appreciable amount of capital for our business.
Debt, Equity, or Both? A Cost of Capital Framework for Founders
Every founder eventually asks some version of the same question: should I raise equity, take on debt, or do both? Most founders answer it by comparing which instrument looks cheaper on paper. That is the wrong question. The real question is whether the return you can generate on a dollar justifies what that dollar actually costs you. This came up in a recent webinar, From Capital Planning to Capital Execution,
