Meet AshGrove Capital: The Growth Fund that Backs Businesses Without Taking Equity

Описание: How can founders raise growth capital without giving up equity? In this episode of TechTalks with TFN, we sit down with Jonathon Ferguson, Co-founder & Partner at AshGrove Capital, the London-based fund offering non-dilutive credit solutions for scaling B2B software and services companies.

With every portfolio company using AI in some form, Jonathon breaks down:
• generative AI vs. functional machine learning
• the real barriers to adoption
• how regulatory uncertainty slows founders down
• why volatility can actually create opportunity for agile investors
With a €650M fund now over one-third invested, AshGrove is active across the UK, Ireland, Nordics, DACH, and beyond and extending into the US and Australia as they back software companies worldwide.

00:00 - Intro & Teaser
01:48 - Introduction: AshGrove Capital & Jonathon Ferguson
02:47 - Addressing the European Funding Gap
04:27 - What is Non-Dilutive Growth Capital?
06:16 - What Founders Need: Clarity of Purpose & Vision
08:56 - The Importance of Diversity in Investment Decisions
12:06 - How AshGrove Differs from VCs and Traditional Lenders
15:25 - Investment Criteria: Revenue, Retention & Unit Economics
17:26 - Product vs. Founder: What Matters More?
19:02 - Fund II Overview: €650M & Key Regions (Nordics, DACH)
23:39 - AI in B2B: Generative AI vs. Functional Machine Learning
29:24 - Geopolitics and Talent Flow into the UK & Europe
33:19 - Why Volatility Creates Opportunity for Agile Founders
34:37 - Key Advice: Capital Efficiency & Discipline
36:30 - The Future of AshGrove Capital

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