CVF Fund is a specialised financing partner for Series A and Series B software companies that want to grow without giving up equity.
Our mission
We help founders fund growth on the strength of their recurring revenue rather than their cap table. Every financing we structure is designed to be non-dilutive, so founders keep ownership and control while they scale.
What we do
CVF Fund provides non-dilutive financing to SaaS and technology businesses with predictable, recurring revenue. Instead of trading equity for capital, our partners raise against the value of their customer base and their unit economics, keeping every point of ownership in their own hands.
How we assess a business
We underwrite on unit economics, not hype. Central to our analysis is the EBITCAC framework, which treats customer acquisition cost as an investment in a durable asset rather than a simple expense. This lets us see the real earning power of a retained customer base and size financing accordingly.
Who we work with
Our partners are typically post-revenue SaaS companies at Series A and Series B stage with strong retention and clear unit economics. We work with founders who want to extend runway, fund an acquisition, or accelerate growth without further dilution.
Our editorial standards
The CVF Fund editorial team publishes research and practical guides on non-dilutive financing, SaaS metrics, and venture debt. Our articles are grounded in the same underwriting frameworks we use in practice and are reviewed for accuracy before publication.
The team behind CVF Fund
CVF Fund is part of KeyGroup, an international group of companies. Our team combines experience in software investing, credit underwriting, and SaaS operations.
Get in touch
If you are a founder exploring non-dilutive financing, we would be glad to talk. Reach out through our contacts page or by email.