We Get the Deal Done
We deliver consistent and reliable capital in all phases of the business cycle. It’s more than confidence of execution. It’s a Done Deal.
Technology Finance
Supporting sponsor-backed technology firms with recurring revenue streams.
The Technology Finance group at PNC Business Credit offers creative capital solutions tailored around the intrinsic value of recurring revenue streams of SaaS, On-Premise Delivery and other technology firms.
We Get the Deal Done
Our Approach
Software-as-a-Service and subscription delivery models are a proven and viable option for technology companies. They can secure long-term customer relationships and a dependable revenue stream. As your private equity group builds solid software companies, you need a capital provider that is familiar with your investment needs.
The Technology Finance group at PNC Business Credit has developed capital solutions that can help meet the growth and financial objectives of companies with recurring revenue. If your firm backs an enterprise software or technology-enabled company, we may be able to offer senior debt based on the intrinsic value of established recurring revenue streams. We deliver solutions consistently throughout the economic cycle with a relationship-based model that takes intangibles into consideration.
Lending Criteria
Delivering capital solutions for technology firms with recurring revenues through the cycles with a relationship-based model that takes intangibles into consideration.
Company Profile
- Highly recurring and visible revenue streams
- Sponsor-backed
- Traditional software, technology enabled, data analytics and information services companies
- Own your own IP
- Offer mission-critical solutions
- Hold a prominent position in the market
Financing Offered
- Senior secured revolvers and term loans
- Unitranche facility (first out tranche)
- Agency or participation
We Get the Deal Done
At PNC Business Credit and Steel City Capital Funding, “Done Deal” is not a tagline. It’s who we are.
Consistent, creative, reliable capital in all phases of the business cycle delivered by leading dealmakers who are experts in their field. With us, it's more than confidence of execution. It’s a done deal.
a portfolio company ofInsight Partners
Undisclosed
Recurring Revenue
PKI Management &
Certificate Lifecycle Automation
a portfolio company ofThe Rise Fund
Undisclosed
Recurring Revenue
Education Technology
Provider
a portfolio company ofRiverwood Captial
Undisclosed
Recurring Revenue
Mobile App Intelligence
Software Provider
Our Team
Industry focused dealmakers with leading experience.
Thomas P. Burkes, Jr.
Managing Director
Technology Finance Group
PNC Business Credit
Thomas Burkes is Managing Director for PNC Business Credit’s Technology Finance group. He is responsible for sourcing, structuring and executing on recurring revenue credit facilities used for buyouts, leveraged recapitalizations and refinancings by enterprise software companies for the eastern United States and Europe.
Burkes joined PNC Business Credit in 2006, providing senior debt financing for companies in traditional industries in Atlanta and Toronto. Prior to PNC, Burkes was a management consultant for BearingPoint Consulting in their World Class Finance Group, and a senior lender for SouthTrust Bank, NA (now part of Wells Fargo).
Burkes received his B.S. from Louisiana State University and his M.B.A. from the Georgia Institute of Technology.
Derek Hrubeniuk
Senior Vice President
Technology Finance Group
PNC Business Credit
Derek Hrubeniuk is Senior Vice President for PNC Business Credit’s Technology Finance group. He is responsible for sourcing, structuring and executing on recurring revenue credit facilities used for buyouts, leveraged recapitalizations and refinancings by enterprise software companies for the western United States.
Hrubeniuk joined PNC Business Credit in 2016 as an underwriter and has more than ten years of industry experience. He most recently served as the West coast team leader within the Technology Finance portfolio group. Prior to joining PNC, Hrubeniuk spent six years with MUFG Union Bank where he focused on a variety of industries including healthcare, environmental services, aerospace and defense, and subscription financing for private equity funds.
Hrubeniuk graduated summa cum laude from California State University, Fullerton, where he earned a B.A. in Business Administration with a concentration in Finance.
Ankur Gupta
SVP & Group Head
Technology Finance Group
PNC Business Credit
Ankur Gupta is a Senior Vice President and Group Head for PNC Business Credit’s Technology Finance group. He is responsible for oversight of all new business development and portfolio management for the Technology Finance group globally.
Gupta joined PNC Business Credit in 2016 and has more than 20 years of industry experience. He most recently served as a senior business development officer at PNC, where he was responsible for originating, screening and structuring asset-based, recurring revenue, and cash flow loans to support private equity and strategic backed transactions. Prior to joining PNC, Gupta was Western Region Team Leader at Antares Capital LP and held roles within the Investment Banking Division at Lehman Brothers.
He received his B.S. from Northwestern University and his MBA, with a concentration in Finance and Accounting, from the University of Chicago.
Avineet Punhani
SVP & Head of Global Originations
Technology Finance Group
PNC Business Credit
Avi Punhani is a Senior Vice President and Head of Global Originations for PNC Business Credit’s Technology Finance group. He is responsible for oversight of all new business originations for the Technology Finance group globally. Additionally, he has a dual-role as a Regional Market Manager where he oversees all new business originations in Southern California for the broader Business Credit platform.
Punhani re-joined PNC Business Credit in 2022 and has 12+ years of industry experience. He most recently served as a Vice President at Sixth Street Partners, where he was responsible for sourcing, structuring and underwriting both credit and equity investments. Prior to leaving for Sixth Street, he held various roles at PNC and was instrumental in the build out of the Technology Finance group.
A graduate of PNC’s C&IB Development Program, Punhani received his B.S. in Accounting from Rutgers University.
Important Legal Disclosures & Information
*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured, and second lien loans for sponsored and non-sponsored transactions.
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