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Upper90

also referred to as: upper 90

9 statements across 1 episodes · 3 bullish · 0 bearish · 1 people on the record · first statement May 23, 2022 by Billy Libby · said 17 times in 1 episodes since 2022 · across every show →

Mentions by year

brought up most by Ted Seides (8), Billy Libby (7)

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2022 17 mentions in 1 episode

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Everything said about Upper90, oldest first

May 23, 2022 neutral
Opinion
Libby: Venture capital industry has barely changed in twenty years
“It's a random walk, and I think that's helped us with Upper 90 because we came with fresh eyes into the VC world that hasn't changed that much in 20 years.”
Billy Libby May 23, 2022 ▶ 5:42 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022
Disclosure
Upper 90 structures deals as 10-20% equity and 80-90% debt upfront
“We make that decision up front. 10 to 20% in equity, 80 to 90% in debt.”
Billy Libby May 23, 2022 ▶ 34:19 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022
Disclosure
Libby: Upper 90 syndicate built off-balance-sheet credit facility for FilmRise
“What ended up happening with FilmRise was we created, in partnership with some other groups, an off-balance sheet credit facility securitized by Netflix payments.”
Billy Libby May 23, 2022 ▶ 17:41 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022 positive
Insight
Libby: Founders can multiply QSBS tax exemptions to $25M using trusts
“Well, you can set up five trusts. And get five times a QSPS exemption. And then upon exit, you can roll them into one entity. So just think about that. Like you have a five million dollar tax free gain or a twenty five million dollar tax free gain.”
Billy Libby May 23, 2022 ▶ 35:45 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022 neutral
Disclosure
Libby: Upper90 refuses to provide debt without an equity stake
“So we will not invest in a business or provide debt, and we can't also be an equity partner.”
Billy Libby May 23, 2022 ▶ 31:21 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022
Disclosure
Libby: Upper90 Scaled Crusoe Energy Credit Facility to $40 Million
“So we ended up giving them a five million dollar project finance facility at 15%, and then it went to fifteen million. And we ended up scaling with them to forty million because it had nothing to do with being a crypto Bitcoin mining startup.”
Billy Libby May 23, 2022 ▶ 41:45 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022 positive
Disclosure
Upper90 was first capital into Thrasio at $12M valuation
“Introduced us to Thrasio, which has been a marquee investment for us. We're the first capital in that company at a twelve million dollar valuation.”
Billy Libby May 23, 2022 ▶ 46:34 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022 neutral
Disclosure
Libby: Upper90 seeks businesses generating 25% to 30% annualized book yields
“So we're looking for businesses that have meaningfully more book yield, 25, 30% annualized book yield, so they can service our 12 to 14%.”
Billy Libby May 23, 2022 ▶ 26:21 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
May 23, 2022 bullish
Prediction Not checkable as stated
Libby: Hybrid credit combining debt and equity will be investing's future
“And so our view is that this will be the future of investing where we can offer this kind of hybrid credit is what we call it because founders are going to want it.”
Billy Libby May 23, 2022 ▶ 32:39 Billy Libby – Disruptive Venture Funding at Upper90 (Capital Allocators, EP.251)
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