I'll start. Sometimes there is a lot of variability in the way that people use terms. “Growth capital” has a different meaning for different actors. Is there mission creep? No, because there are legal contracts that define the scope of the investments that fund-of-funds managers can make.
I'll turn to Neal, who would know more, but generally we're talking about series A rounds. We're talking about $2-million to $10-million investments in companies. The growth stage in the context that we're talking about means still relatively early and relatively small tickets. Others would be talking about a growth stage that is far beyond what these funds are operating in.
Neal.