Gillian and Anne delve into warrants. Just one of the forms of venture debt, a warrant is such a useful investment instrument and so few people seem to understand what it does, how it’s used, who uses it, when, and why. Often called a classic feature of venture debt, warrants are a type of security that gives the holder the right to purchase company stock at a specified price within a specific period of time. Many VC investors, including the world’s best-known investors and accelerators use warrants rather than conventional venture capital. Hear why in this episode.