01 / Underwrite
We underwrite the startup.
We look at venture backing, runway and the workload rather than years of credit history, and set terms the startup can carry.
Compute contracts for startups,
on the terms frontier labs get.
Dedicated GPUs on 6 to 12 month terms, underwritten on your venture backing.
For startups
Dedicated GPUs on 6 to 12 month terms, underwritten on your venture backing.
Dedicated GPUs come with long contracts.
Dedicated capacity usually means a one to three year contract, a large minimum, and months paid up front. The hardware is financed against that contract, so providers rarely offer shorter terms.
A startup cannot sign for 2029.
A startup that needs 1 to 4 dedicated nodes is stuck between expensive on-demand and a long deal it cannot sign. It needs six to twelve months, then room to grow.
Valnce underwrites the startup.
We underwrite on venture backing and runway, and the startup signs a 6 to 12 month contract with part of it prepaid. Funders finance the hardware, and we re-lease nodes between contracts so the months in between keep earning.
How it works.
Valnce originates, underwrites and services compute contracts. Startups get dedicated GPUs on startup-friendly terms, and funders get diversified, prepaid contracts they can finance.
For funders
Prepaid, diversified startup compute contracts you can finance.
Prepaid contracts
Every startup prepays part of its contract before its nodes go live.
Diversified across startups
Contracts are spread across many startups, with a concentration limit per tenant. One that stops paying is a small share of the book.
Cash flows to funders first
Startup payments cover hosting and operations, then go to the funder first. Nodes that free up are re-leased between contracts.
How we manage the risk
Concentration limits, a pipeline of startups waiting for capacity, compute futures under evaluation, and simulations of churn, prices and utilization against the payment schedule, before a book is financed and every month after.