The Q2 2025 Research Report: Lender Sentiment in Private Capital & Venture Debt

Venture debt in 2025 is shifting into a more measured and strategic phase. Demand is steady, but as lenders become more selective, market players need to be aware of the latest updates and the factors contributing to successful deals.

Our Q2 2025 Lender Sentiment Index aggregates survey data and market research to reveal how growth-stage credit providers view the market right now and what they expect in the second half of the year.

Inside the report:

• The current Lender Sentiment Index score
• How deal flow and borrower demand compare with Q1
• Top borrower challenges and metrics for lenders
• Sectors and regions seeing the strongest venture debt interest
• Emerging financing innovations like AI-powered underwriting

These quarterly results from 5th Line’s Research Program offer a data-driven perspective for founders, CFOs, finance leaders, and lenders planning their capital strategies. Get detailed charts, lender quotes, and market analysis to equip your team for a changing credit landscape.

Download the full report to see where lender sentiment is headed next and how to position your company for stronger financing outcomes.