Pinegrove Credit Partners, backed by Brookfield and HRTG Partners, and Temasek announced a strategic partnership focused on venture debt. The partnership will focus on supporting venture debt financing for growth-stage companies in the innovation economy.
The partnership brings together Temasek and Pinegrove to extend flexible, minimally dilutive financing solutions to growth-stage technology and life sciences companies. Pinegrove Credit Partners is the venture debt and private credit business of Pinegrove.
Temasek’s partnership with Pinegrove reflects a joint view that venture debt plays a growing role in funding the next wave of innovation. As capital markets evolve and equity financing becomes increasingly selective, venture debt is playing a more important role in supporting high-quality companies seeking scale while preserving ownership and balance sheet flexibility.
Pinegrove Credit Partners provides secured loans to venture capital-backed companies, with a focus on businesses operating at the forefront of innovation, including AI and compute infrastructure, defense, space, energy, and robotics technologies, as well as enterprise software, healthcare, and life sciences.
Pinegrove maintains a long-standing relationship with Silicon Valley Bank (SVB), a division of First Citizens Bank, one of the most established institutions in venture banking. Pinegrove has worked alongside SVB’s venture lending platform since 2012 and in December 2024, the parties formalized a strategic lending relationship.
Across multiple venture and credit cycles, Pinegrove Credit Partners’ funds have deployed over $4.5 billion across approximately 580 loans to more than 450 growth-stage companies since inception in 2012. Since March 2025, existing fund vehicles have closed or signed term sheets on 37 loans totaling approximately $700 million in commitments.
“Pinegrove’s platform is built on deep connectivity across the innovation ecosystem, including long-standing relationships with banking partners, sponsors, and company leadership teams,” said Jim Ellison, Managing Partner and Head of Pinegrove Credit Partners. “This positioning drives differentiated origination and allows us to deploy capital with a high degree of selectivity.”
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