Page 5 - BrewDog Venture Capital

Stages: from start-up to venture capital

There are several different types of venture capital each

requiring differing levels of finance.

3 Phase: Acquisition or Buyout Financing

-3- Acquisition or buyout financing is categorized into

acquisition finance and management or leveraged
buyout financing.

-2- 2 Phase: Expansion Financing
Expansion financing may be categorized into

-1- • second-stage financing, bridge financing and

• third stage financing or mezzanine financing.
1 Phase: First-Stage Financing

Early-stage financing has three sub-divisions

• seed financing,
• start up financing and

• initial-stage financing.