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Beyond Venture Capital - Alternative Funding Approaches

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Beyond Venture Capital - Alternative Funding Approaches

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Founder Real Talk feat. CA State Treasurer Fiona Ma: Beyond VCs - Alternative Funding Approaches · Luma

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## ​📣 You don’t need to raise venture capital to build a thriving startup.

​In this special edition of Founder Real Talk, we dive into alternative funding options—from bank lending, SBA loans, grants, to bond financing and revenue-based models. California State Treasurer Fiona Ma will be the keynote speaker explaining how California is supporting innovation through grant programs.

Learn how founders can scale with smarter, sustainable capital strategies. Join us for a candid conversation with founders, lenders, and ecosystem experts on how to grow your company with non-dilutive capital. We’ll cover:

  • ​Navigating SBA loans, bank financing, and non‑dilutive funding
  • ​Tapping into state, city, and institutional programs that support small business growth
  • ​Building relationships with banks, CDFIs, and government agencies
  • ​Structuring your company for financial resilience without giving up equity
  • ​Real‑world stories of founders who scaled with alternative funding and smart capital strategies

​This is not a typical panel event. It’s a no‑BS, founder‑to‑founder conversation about how real companies scale sustainably—with drinks, snacks, and good people. Come to learn. Stay to connect.

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## ​👥 Panel & Format

​A lively, founder‑facing panel with rotating experts from finance, government, and lending institutions—expect candid conversation, concrete insights, and a networking‑rich atmosphere.
Panelists:

  • ​**Fiona Ma, California State Treasurer:** Fiona Ma is California’s 34th State Treasurer—the first woman of color and first CPA elected to this office. Since taking office in January 2019, she has overseen state financial operations including $155 billion in assets under management, $20 billion in recent bond issuance, and initiatives supporting affordable housing, small business financing, and local infrastructure financing
  • ​**Allison Kelly: **Allison Kelly is a finance and investment professional with over 25 years of experience working in, and growing, community development finance institutions. As CEO of ICA Fund since 2019, Kelly is deeply committed to strengthening our economy by catalyzing value in local markets. ICA Fund is an Oakland-based not for profit impact investor certified as a CDFI. Under Kelly’s leadership, ICA has more than tripled its net assets, its number of investments, and revenues. Prior to ICA Fund, Allison worked in both the for profit and not for profit sectors in various leadership positions. She is on the Board of the CDFI Coalition and Mal Warwick Donor Digital. Allison lives in Oakland with her husband and two teenagers.
  • ​**Neda Razavi: **Neda Razavi, CEO of iSono Health, is driven by a vision for a world where early cancer detection saves lives. With 25 years of experience bringing innovative medical technologies to patients and clinicians, she has launched 65 products across six platforms, blending deep scientific knowledge with clinical and commercial expertise. Neda has led market strategies for industry leaders such as Illumina, Roche, Abbott Laboratories, Medtronic, Baxter Bioscience (now Takeda), Kythera (now Allergan), and Natera, generating over $9 billion in revenue. At iSono Health, she is creating a new category of imaging at the intersection of robotics, AI, and 3D ultrasound—eliminating reliance on sonographers, delivering MRI-like resolution in minutes, and making advanced diagnostics accessible in any clinic. Under her leadership, iSono is positioned as a category-defining company at the cutting edge of healthcare technologies, transforming how and where cancer is detected worldwide.
  • ​**Paul Ratner:** Paul Ratner is the Vice President of Sales at Marble Bridge Funding Group. In his role he is responsible for helping small businesses and early stage companies by offering working capital financing. This includes but it is not limited to Account Receivable, Purchase Order, and Contract Financing. Prior to working for Marble Bridge Paul spent 19 years working in various sales leadership roles in professional sports with the Golden State Warriors and PGA TOUR. Paul currently serves on three non-profit boards and has been a strategic advisor for several companies and individuals.

***

## ​💡 Topics We’ll Cover

  • ​Navigating SBA loans, bank financing, revenue-based lending, and bond issuance
  • ​Understanding state‑run bond programs, tax credits, and credit enhancements
  • ​How to present strong capital plans to banks versus VC firms
  • ​Operating and scaling without giving up equity: strategies that preserve ownership
  • ​Public finance tools for infrastructure, housing, and clean‑tech that indirectly support startups

***

## ​💡 Who Should Attend

  • ​Seed‑stage founders and co‑founders exploring non‑dilutive capital
  • ​Startup operators and financial leads managing growth
  • ​Founders refreshing their capital strategy—beyond just raising venture capital
  • ​Investors, ecosystem builders, and service providers interested in alternative funding models
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