Silicon Valley Bank (SVB), part of First Citizens Bank, Hercules Capital and Pinegrove Venture Partners are providing debt to New York-based Capitolis as part of a $220m financing package, the company said on 6 October. Israeli business daily TheMarker reported the same day that the debt financing totals $100m.
The Capitolis financing marks at least the fourth time since December 2025 that SVB, Hercules and Pinegrove have lent together. The three lenders provided debt supporting HawkEye 360’s acquisition of Innovative Signal Analysis in December 2025. A later HawkEye 360 S-1 filing showed a $34m mezzanine term loan agented by First Citizens with Pinegrove funds and Hercules, alongside a $14.6m SVB senior term loan.
SVB, Pinegrove Venture Partners, Hercules Capital and Trinity Capital provided $150m of debt within Hermeus’s $350m Series C in April 2026. Allen Control Systems received a $150m debt package from SVB, Hercules Capital and Pinegrove Credit Partners in September 2026. SVB and Pinegrove Venture Partners announced a strategic lending relationship in March 2025 and said they expected to deploy a combined $2.5bn of venture debt.
Capitolis said the financing comprised the debt and a $120m Series E equity round at a $1.9bn valuation. Pinegrove Credit Partners is the venture debt and private credit business of Pinegrove Venture Partners.
The equity round was led by existing investor Citi. New strategic investors Bank of America, Nomura and Tradeweb Markets joined the round, alongside existing investors Barclays, BNP Paribas, J.P. Morgan, State Street and UBS. Other existing and new financial investors also participated.
Capitolis said the financing will support its acquisition of eSecLending, which adds securities lending to its platform. Capitolis agreed on 29 September 2026 to buy eSecLending from Parthenon Capital and eSecLending’s management for $200m in cash. The transaction is subject to regulatory approvals and antitrust clearance. Parthenon Capital is investing in Capitolis.
Gil Mandelzis, founder and chief executive of Capitolis, told Calcalist on 6 October that most of the funds are allocated to the eSecLending acquisition. “Debt is much cheaper for the company. We will soon start generating significant cash flow, and I prefer debt over equity... We struck a balance between strategic equity raising and debt,” he said.
Capitolis was founded in 2017 and works with banks and financial institutions on funding, capital and balance sheet challenges through its Capital Marketplace and Portfolio Optimization businesses. The company said eSecLending is its fourth acquisition in five years. In March 2022, Capitolis raised a $110m Series D at a $1.6bn valuation.
Capitolis did not disclose the debt structure or terms, including tenor, pricing, instruments or the lender split. FT Partners was exclusive strategic and financial adviser to Capitolis on the transaction. WilmerHale was legal adviser to Capitolis, and Goodwin Procter was legal adviser to the banks.