Thanks, for bridge to Demo Day loans we are underwriting the YC program. For seed extension debt-these companies are still young therefore, our analysis is also

Thanks, for bridge to Demo Day loans we are underwriting the YC program. For seed extension debt-these companies are still young therefore, our analysis is also betting on traction, quality of founders and investors on the cap table. However, for later stage loans we underwrite on the basis of both a top down as well as bottoms up analysis.