Thruline Thursday 16: Your 2025 Capital Strategy Won’t Survive 2026
Capital is available. It is just structured differently this 2026 than a year ago.
The cost of money has shifted. Risk is priced differently. LP expectations are tighter, and founders are facing sharper scrutiny. The way a company structures its capital stack now determines whether it can move with confidence or spend the next year renegotiating terms and runway.
This Thruline Thursday session will unpack how the capital stack is evolving across equity, venture debt, project finance, revenue-based financing, and blended structures. We’ll look at what’s actually closing in this market, where capital is flowing, and how terms are changing across stages. We’ll also explore how investor expectations around dilution and downside protection are shaping deals, when debt strengthens a strategy and when it quietly adds pressure, and how climate and impact companies are layering non-dilutive capital in more disciplined ways.
At the same time, LP dynamics are influencing fund behavior in real time. Understanding that pressure helps explain why certain deals move and others stall. The goal of this conversation is to give founders, fund managers, and advisors a clearer lens on how to structure for durability and alignment in the current cycle.
If you’re raising, deploying, or structuring capital, this discussion will focus on what holds up in 2026 and what needs to be reconsidered. Join us!
About Thruline Thursday
Over the past few months, we've convened bold thinkers and doers across 10 high-impact digital sessions—bringing together over 200 industry experts, founders, CEOs, investors, and mission-driven leaders across the climate and innovation space.
These monthly, 60-minute conversations go deep into the work of changemakers advancing climate action, infrastructure innovation, equity, and circular solutions.
Designed to spark curiosity and fuel transformation, each episode reaches a growing, values-aligned audience eager to engage.
What makes this different? Here's the Run of Show:
30 Minutes - each expert explains current tips, trends and best practices that matter for you today
30 Minutes - recap & Ask Me Anything session (AMA)— where you get the chance to ask direct questions, discuss real challenges, and leave with practical insights tailored to needs and interests.
If you’re serious about making smart moves while creating impact, this is where you need to be.
ABOUT THE HOST
PHIL DILLARD is the Founder & CEO of Thruline Networks, an impact investing and advisory firm focused on ClimateTech, Circular Economy, and Regenerative Economy solutions. A former naval officer and manufacturing executive, Phil brings a systems-thinking lens to business strategy, capital access, and sustainable growth. He’s also the host of Thruline to the 4th Sector, a podcast spotlighting mission-driven companies redefining capitalism. With a deep belief in business as a force for good, Phil works with founders and investors to grow companies that deliver both profit and impact.