Squares Venture Partners

GET FUNDING. NO DILUTION.

Squares Venture Partners

About Us

Our team is made up of finance experts and former entrepreneurs with deep experience in the tech sector. We understand both the opportunities and challenges of managing a software business.

Bridging the gap between traditional venture capital and banks, we specialize in providing minimally intrusive, minimally dilutive growth capital. We typically provide $1-$10M to software companies with growing, predictable, and recurring revenue streams. These businesses are typically capital efficient, capable of operating profitably if needed, but seeking capital to accelerate growth. Whether backed by equity investors or operating independently, we offer the strategic funding needed to scale while maintaining flexibility and control.

For the past five years, we have been leaders in alternative growth capital, funding over 60 companies in Israel and the U.S. Many of our portfolio companies have leveraged our capital multiple times as their primary growth funding source, ultimately reaching successful exits.

Our passion for value creation extends not only to the founders we support but also to our shareholders and investors. If you believe we could be the right fit for your business, we’d love to start the conversation.

Lending Criteria

We offer growth debt to software companies with a minimum of $3 million in annual revenue.

Portfolio companies DO need to have:

 

  • Have recurring revenues business model.
  • a minimum of $250k in MRR.
  • a minimum of 80% retention.
  • An Israeli affiliation (IL company/ IL management/ IL presence)
  • Sufficient runway (including our funding)

Portfolio companies DO NOT need to:

  • Be venture-backed.
  • Be profitable.
  • Have a lot of money in the bank.
  • Have any specific contracting or payment terms (i.e., long-term contracts) – we can work with almost all revenue models

Use of Capital

Growth investment

Shareholder buyout

Working capital

Debt refinancing

Path to profitability

Runway extension to next equity event/exit

Acquisitions

Typical Structure

Growth Debt Loans

Amount

$2M–$20M (may be structured in multiple tranches)

Guarantees

Senior secured debt; no personal guarantees required

Structure

Term loan, may include interest-only grace periods

Interest Alignment

Modest warrant

Covenants

Modest financial covenants

Term

2–4 years

Process

Engagement Process

Our funding process typically takes 6–8 weeks from the first call to closing and follows this sequence:

1. Introductory Video Meeting (~20–40 minutes)

  • A brief conversation to understand your business and funding needs.

 

2. Underwriting Questionnaire

  • If there’s a good fit, we’ll ask you to complete our underwriting questionnaire, which covers financials and business model details—typically led by the CFO.
  • Additional materials, such as consolidated financials and pitch decks, are welcomed but not required.

 

3. Indicative Funding Terms

  • We schedule a follow-up short video call to present indicative funding terms, typically in a concise one-page bullet-point format.
  • Sometimes, we present multiple options to tailor the best financial structure for you.
  • At this stage, we have not yet conducted full due diligence, but we aim to provide a meaningful offer as quickly as possible to respect your time.

 

4. Term Sheet Issuance

  • Once we agree on the indicative terms, we issue a formal term sheet—usually within 1–2 weeks of the initial call.

 

5. Due Diligence & Closing

  • The process from term sheet to closing typically takes 4–5 weeks, involving deeper due diligence and legal documentation.

Our Team

Gideon Ziegelman – Managing Partner

Gideon brings over 25 years of experience in startup management and investment. He co-founded and led IBI SPIKES, a leading alternative venture debt fund that provided financing to dozens of Israeli and American companies.

Previously, Gideon founded and led two startups, achieving two M&A exits. He also co-founded Pekan Alternative Energy Mutual Fund, which became one of Israel’s top-performing funds before being acquired by Bank Hapoalim. Additionally, Gideon served as an Entrepreneur in Residence (EIR) at Precede VC.

Gideon holds an MBA from INSEAD (France) and a B.Sc. in Computer Engineering from the Technion – Israel Institute of Technology.

Eli Maurice – Managing Partner

Eli brings over 10 years of investment banking experience. He founded and led Gate Ventures, Israel’s leading SaaS-focused investment bank. Over the past five years, Eli has been involved in financing 40 Israeli and American SaaS companies, representing over $250M in transactions.

Previously, Eli worked as an analyst at Clairfield International, where he assisted in valuations and financial due diligence for cross-border M&A transactions of up to $300M.

A deal maker and strategic advisor, Eli has a proven track record in initiating, leading, and executing high-impact transactions. He is passionate about delivering true added value to the companies and clients he supports.

Eli holds a Bachelor of Laws (LL.B.) from Bar-Ilan University.

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