Capital at Every Stage: Debt, Equity and the Markets Between

For most founders and CFOs, the IPO is the headline, but the real story of building a financial services business is everything that comes before it. From warehouse lines and forward flow agreements to private credit and public markets readiness, the decisions companies make about how and when to raise capital can shape their trajectory far more than any single liquidity event.

In this conversation, Balderton General Partner Rana Yared sits down with Enrico Bruni, Co-Head of Global Markets at Tradeweb Markets, and Michael Harris, Vice Chairman and Global Head of Capital Markets at NYSE Group, to map the full capital journey for growth-stage businesses, and explore how leaders can choose the right capital, at the right moment, for the next stage of growth