I kind of agree, theres an obvious difference between a bank loan and typical startup equity seed round. However it does get very blurry in practice, eg: - Red

I kind of agree, theres an obvious difference between a bank loan and typical startup equity seed round. However it does get very blurry in practice, eg: - Redemption rights & liquidation pref in preferred shares effectively turn it into a loan - Convertible notes are debt instruments but most obviously should be described as "raising" - Venture debt typically has upside in the form of share options in addition to the debt repayment mechanism