AI credit firm F2 AI raises $5M from Golub Capital

The notable detail is not the size of the cheque but the structure: Golub is both investor and customer, taking equity in F2 AI while embedding its agents into screening, diligence, underwriting and portfolio monitoring. That dual role is becoming a common template for AI adoption in private credit, where incumbents buy capability rather than build it. It also raises the question of how such tools get validated when a backer's own dealflow is the testing ground. Whether other private credit managers follow with similar equity-for-access arrangements is the open question.