Meeting the Growing Need for Tech Lending

Companies’ transition to SaaS and the resultant growth in tech-focused private equity has created a need for lenders with a demonstrated track record in the sector.

Tree Line has maintained a dedicated focus on technology borrowers with flexibility to structure EBITDA-based and ARR-based loans.

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Tree Line’s Edge in Tech Lending

Since inception, Tree Line has exclusively targeted lower middle market borrowers and private equity firms.

Our long-term relationship approach has resulted in the majority of our transactions coming from sponsors or borrowers with whom we’ve worked before. We seek to establish lending partnerships capable of providing significant post-close support, which has helped us close over $400M in tech lending commitments. This approach combined with our experience in lower middle market tech lending uniquely positions us as a go-to provider for sponsors seeking $10M+ ARR loans.

> $475M

Tech Lending Commitments

41

Transactions

90 %+

Agent or Lead Lender

ARR & Tech Lending Criteria

First Lien & Last Out
Loan Structure

$10M – $30M
Loan Sizes

$10M+
Annual Recurring Revenue

90% gross / 100%+ net
Customer Retention

< 40%
Loan to Value

1.0x – 2.25x
ARR Leverage

Key Business Criteria

Market leader with limited competitors

Significant diversity among customer base

Support of experienced equity partner

Adequate liquidity if not profitable

Select Transaction Examples

May 2021

Agent & Sole Lender

First Lien Term Loan & Revolver

Granite River Labs
Sfw Logo

March 2021

Sole Last Out Lender

ARR-Based Unitranche Last-Out Term Loan

Cadmium Logo
Stg Logo E1615922999368

February 2021

Sole Last Out Lender

ARR-Based Unitranche Last-Out Term Loan

Alianza Logo E1615922107632
Signal Peak Ventures Logo

December 2020

Lead Arranger

Unitranche Term Loan

Pair Logo
Tr Logo 2

March 2020

Agent & Lead Arranger

Unitranche Term Loan

New Charter Tecjnologies
Oval Partners

June 2019

Agent & Lead Arranger

Refinancing

Ingenio
Alpine Investors

April 2019

Agent & Sole Lender

First Lien Term Loan & Revolver

Med Tech Solutions
Sunstone Partners

April 2019

Agent & Sole Lender

First Lien Term Loan & Revolver

Vcreative
Banyan

September 2017

Agent & Sole Lender

Unitranche Term Loan

Taskstream
Quad Partners