Capital Markets Lead

About the Role

You'll work directly with the Head of Finance and CEO to raise the capital that funds our compute supply, across conventional facilities and structures that don't have a standard playbook yet. Compute is an unusual asset class. It has contracted cash flows, a real residual value, a depreciation curve nobody agrees on, and a lender base that is still forming an opinion about it.

You'll build the financing architecture around it, and make the case to a credit committee that our receivables are money good. This is a builder's seat, not a maintenance seat - there is no existing facility to administer, and you will originate the first ones.

You'll originate and structure debt capital to fund vendor down payments and capacity commitments, spanning bank revolvers, private credit and non-bank facilities, receivables- and contract-backed structures, SPV and project-style financings, and vendor and equipment financing.

You'll own the lender and investor relationship map, run raises end to end from positioning through definitive documentation, and sit in the redlines on covenants, lien priority, DACA mechanics, borrowing base definitions, and advance rates.

You'll own the financing side of our contract-level model and bring leadership a defensible recommendation rather than a menu, support the concurrent equity round without letting the debt and equity tracks collide, manage post-close lender reporting and compliance, and work closely with the teams negotiating vendor supply and customer contracts so that what we sign is financeable.

In your first 90 days, you'll know our unit economics and contract mechanics, have a mapped and prioritized lender universe, and have first meetings underway. By six months, you'll have a term sheet in hand for a facility that funds vendor down payments on terms we'd sign again. By twelve months, capital is no longer the constraint on how much capacity we can commit to.

Who You Are

• 5+ years in capital markets, corporate development, or institutional fundraising; 10+ preferred
• You have raised institutional capital before - specifically from institutional LPs for a hedge fund, private equity firm, or venture capital firm - and you can name the relationships you'd bring
• Investment bank capital markets experience, ideally debt: DCM, leveraged finance, structured finance, private capital markets, or a financial sponsors group
• Existing relationships with bank, non-bank, and private credit lenders active in the AI space
• Real fluency in credit documentation and structure - comfortable arguing about first-lien vs. second-lien, intercreditor terms, cash sweeps, and what a lender actually means when they ask for control over an account
• Strong financial modeling skills; you can build the facility model yourself and defend every assumption in it
• Comfortable operating with ambiguity, a small team, and no analyst bench

Preferred Qualifications

• You've raised a Series B or Series C at a startup - as an operator, not an advisor
• Exposure to asset-backed, equipment, infrastructure, or project finance
• Familiarity with AI infrastructure, data centers, semiconductors, or energy - or a demonstrated ability to get up the curve on a technical market fast