Venture & Growth Debt Deal Tracker:
October 2026

Deals are assigned to the month they were first tracked, discovered or announced. A financing signed in July and first tracked in October counts in October. A deal announced in July and recirculated in October does not count again.

The Deal Tracker covers debt financing for innovative growth companies, including venture debt, growth credit and other growth lending. Lenders and borrowers describe similar deals in different ways, so the report does not assign deals to those labels.

From October, the report leaves out three kinds of financing that Undiluted still covers: asset-backed facilities secured on a pool of loans or receivables, debt raised to finance AI computing capacity, and any single financing above $1bn. October’s figures are therefore not directly comparable with September’s.

Combined equity and debt rounds are included, but only the debt portion counts toward disclosed value. Where the debt isn't broken out, the deal is counted with its amount undisclosed.

Every deal in the report is counted once in the headline figures. The disclosed financing total adds up the deals that disclosed an amount; undisclosed deals count towards the number of deals only.

Deal sizes use the same US dollar amount as the headline total. A facility of “up to” an amount counts at that maximum, and one of “more than” an amount counts at the stated figure. Bands run from under $5m to $250m–$1bn inclusive, and deals with no disclosed amount are shown separately.

Aggregate values are shown in US dollars, converted at approximate rates at the time of announcement. Deal details keep the original currency amount.

Geography follows the borrower’s location.

Each deal is counted once, by the type of lender behind it: funds, banks or public lenders. Deals with more than one type of lender are shown as mixed, and deals where no lender was named are shown separately.

Undiluted maps and tracks the global venture debt and growth lending market. Deals are identified through Undiluted’s own monitoring, regulatory and financial filings, announcements and press releases. Some lenders and borrowers also share deal data with Undiluted directly.