Hershberg: PE backer gained stake by forgiving $2M in brewery debt
Dan Hershberg · #119 Amateur Golf Society: Venture Capital vs. Private Equity · Mar 4, 2025 · at 11:43
Dan Hershberg explains how private equity backers took an equity position in Amateur Golf Society by converting debt from his craft brewery.
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“What they did, so they basically forgave two million dollars worth of debt that was owed to the to them from the brewery to set the valuation. And then that's how we kind of got things started. So they didn't put any new money into it for this particular round, but they forgave that debt.”
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