LA Venture Podcast: Why Rivonia Road Capital Focuses on 'Venture Credit'

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
LA Venture Podcast: Why Rivonia Road Capital Focuses on 'Venture Credit'

On this week's episode of LA Venture, hear from Dan Zinn, co-founder and managing partner at Rivonia Road Capital. The firm provides a much more bespoke solution than traditional venture debt. We also talk about how Zinn built a billion-dollar hedge fund and small business lender XPRS Capital.

Key Takeaways:

  • Zinn distinguishes that Rivonia Road invests in "venture credit" — a phrase that hasn't yet been coined — as opposed to venture debt. That is, they bridge the capital gap for venture-backed firms that have cash flows, royalty streams and/or other tangible objects.
  • Rivonia works with companies at all levels of development, but they're particularly interested in early-stage companies that originate their assets online.
  • Rivonia offers free advice because the firm is in the business of helping business and wants to support founders -- especially in understanding the capital market — which Zinn says most founders don't understand.
  • Zinn's investment decisions have always focused on where the capital is not going— for instance: China, alternative U.S. credit markets or small business -- and then exploring them.
  • Rivonia focuses on sub-hundred-million investments.
"This is all a journey and you better enjoy it some interesting things along the way because...ultimately there's no destination that I know of that is necessarily satisfying." — Dan Zinn

Dan Zinn is cofounder and managing partner at Rivonia Road Capital. He was formerly a founder and chair at XPRS Capital and founding partner, portfolio manager at Orange Capital.

Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

Subscribe to our newsletter to catch every headline.


How Real-Time Data Is Helping Physicians Track Their Patients, One Heartbeat at a Time

S.C. Stuart
S.C. Stuart is a foreign correspondent (ELLE China, Esquire Latin America), Contributing Writer at Ziff Davis PCMag, and consults as a futurist for Hollywood Studios. Previously, S.C. was the head of digital at Hearst Magazines International while serving as a Non-Executive Director, UK Trade & Investment (US) and Digital Advisor at The Smithsonian.
How Real-Time Data Is Helping Physicians Track Their Patients, One Heartbeat at a Time

Are you a human node on a health-based digital network?

According to research from Insider Intelligence, the U.S. smart wearable user market is poised to grow 25.5% in 2023. Which is to say, there are an increasing number of Angelenos walking around this city whose vital signs can be tracked day and night via their doctor's digital device. If you've signed up to a health-based portal via a workplace insurance scheme, or through a primary care provider's portal which utilizes Google Fit, you’re one of them.

Do you know your baseline health status and resting heartbeat? Can you track your pulse, and take your own blood pressure? Have you received genetic counseling based on the sequencing of your genome? Do you avoid dairy because it bloats, or because you know you possess the variant that indicates lactose intolerance?

Read moreShow less

Who Will Win LA's E-scooter Wars?

Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
Who Will Win LA's E-scooter Wars?
Evan Xie

Los Angeles — it’s not just beautiful weather, traffic and the Hollywood Walk of Fame — it’s also the largest shared micromobility market in the U.S. with six operators permitted to deploy up to 6,000 vehicles each.

And despite the open market policy, the competition shows no signs of slowing down.

Read moreShow less