Sage Growth Capital is a revenue-based investment firm headquartered in Boise, ID, USA that provides growth capital without taking founder equity. Rather than being a traditional venture capital firm that buys a percentage of equity, Sage deploys revenue-financed capital (also known as revenue-based financing or royalty financing) into companies with stable revenue and margins.

Growth / Expansion Capital: Sage targets companies with established revenue (usually a minimum of ~$300K in annual revenue and stable margins) that are looking to accelerate growth — not typical pre-product seed ventures.
Early Stage: It does not focus on pre-seed or seed in the equity sense, but rather supports companies at stages where traditional equity or revenue-based capital can help scale.

Typical Investment Size: Average deal sizes have historically been around $330,000 (with range dependent on revenue and growth needs).
Equity / Ownership Taken:
• 0% equity taken. Sage Growth Capital’s model is non-dilutive — they do not purchase shares or take ownership in the company.
• Instead of equity, Sage structures revenue-based investments where the company agrees to pay a percentage of future revenue until a pre-agreed total return is paid back.
• Typical revenue share terms involve 3%–8% of monthly revenues until a 2×–3× return on the invested amount is repaid (e.g., invest $100K, repaid $200K–$300K over time).
• Repayment periods are usually 3–5 years depending on performance.
Governance: Because Sage does not take equity, they generally do not take board seats or governance rights tied to ownership; terms are financial rather than governance-driven.

Submission Method: Founders apply via the Sage Growth Capital online application and typically are referred by existing investors or angel groups as part of the qualification process.
Review Focus: Sage looks for businesses with revenue track records and growth plans, rather than early GUI prototypes or venture proof-of-concept. 

Sector Focus: Industry-agnostic — products and services across many verticals are eligible so long as revenue and margins meet criteria; Sage has backed companies in tech, CPG, manufacturing, and services.
Geography: U.S.-centric (nationwide), with a strong base in Idaho and wider reach through Fund II/Fund III.
Stage: Revenue-producing companies (not strictly seed/startup) that need growth capital but want to avoid dilution.
Company Profile: Minimum ~$300K annual revenue, ~40%+ gross margins, recurring-like revenues ideal. 
Team: Operational leadership capable of executing growth via sales and marketing investment.

Initial Intake: Submission of revenue history, growth plan, and how the capital will be used.
 Financial Underwriting: Sage evaluates revenue stability, gross margins (typically >40%), and repayment capacity via revenue share.
 Term Structuring: They determine revenue share %, repayment cap (2×–3×) and expected pay-back term. 
Closing: Once terms are agreed, funds are deployed and repayment via revenue share begins.

Non-Dilutive Capital: Growth capital without selling any ownership. 
 Flexible Repayment: Payments tied to revenue performance rather than fixed debt schedules. 
 Growth Alignment: Capital timed with scale goals rather than exit timing pressures.