Tom Steyer’s Investment Firm Fills a Private Credit Niche
Tom Steyer, co-chair of Galvanize Climate Solutions in 2023.
Photographer: Eva Marie Uzcategui/BloombergThe private credit market stands at roughly $1.7 trillion, and investor interest in it is only intensifying. Venture debt is one area of the market that hasn’t seen boom times, especially for clean-tech companies, following the 2023 collapse of Silicon Valley Bank.
Today’s newsletter looks at how Tom Steyer’s investment firm is jumping in to fill that gap. Plus, FEMA reinstated whistleblowers whom it had put on leave — only for the agency to reverse course hours later. Confused? Read on to get to the bottom of what’s happening.