10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________________________________________________________________________________________________________________________

Form 10-Q

________________________________________________________________________________________________________________________________________________

(Mark One)
x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM                      TO                     

COMMISSION FILE NUMBER: 814-01327

________________________________________________________________________________________________________________________________________________

TriplePoint Private Venture Credit Inc.

(Exact name of registrant as specified in its charter)

________________________________________________________________________________________________________________________________________________

Maryland	84-3383695
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

TriplePoint Private Venture Credit Inc.

2755 Sand Hill Road, Suite 150, Menlo Park, California 94025

(Address of principal executive office)

(650) 854-2090

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
None	None	None

________________________________________________________________________________________________________________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   x   No  ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨
Emerging growth company	x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes  ¨    No    x

As of November 7, 2024, the registrant had 23,689,363 shares of common stock, $0.01 par value per share, outstanding.

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

TABLE OF CONTENTS

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements (unaudited)	1
	Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and December 31, 2023	1
	Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)	2
	Consolidated Statements of Changes in Net Assets for the Three and Nine Months Ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)	3
	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 (unaudited) and September 30, 2023 (unaudited)	4
	Consolidated Schedules of Investments as of September 30, 2024 (unaudited) and December 31, 2023	5
	Notes to Consolidated Financial Statements (unaudited)	44
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	60
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	75
Item 4.	Controls and Procedures	76
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	77
Item 1A.	Risk Factors	77
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	77
Item 3.	Defaults Upon Senior Securities	77
Item 4.	Mine Safety Disclosures	77
Item 5.	Other Information	77
Item 6.	Exhibits	77
	Signatures	79

PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except share and per share data)

	September 30, 2024		December 31, 2023
	(unaudited)
Assets
Investments at fair value (amortized cost of $393,790 and $406,433, respectively)	$	380,841	$	400,195
Cash and cash equivalents	59,548		45,398
Restricted cash	34		15,447
Deferred credit facility costs	2,261		2,988
Prepaid expenses and other assets	2,306		1,000
Total assets	$	444,990	$	465,028
Liabilities
Revolving Credit Facility	$	80,500	$	87,500
2027 Notes, net	74,488		74,350
Base management fee payable	1,552		1,471
Other accrued expenses and liabilities	7,435		11,165
Total liabilities	$	163,975	$	174,486
Commitments and Contingencies (Note 7)
Net assets
Preferred stock, par value $0.01 per share (50,000,000 shares authorized; 525 shares issued and outstanding)	$	—	$	—
Common stock, par value $0.01 per share	237		237
Paid-in capital in excess of par value	352,037		352,037
Total distributable loss	(71,259)		(61,732)
Total net assets	$	281,015	$	290,542
Total liabilities and net assets	$	444,990	$	465,028
Shares of common stock outstanding (par value $0.01 per share and 450,000,000 shares authorized)	23,689,363		23,689,363
Net asset value per common share	$	11.84	$	12.24

See accompanying notes to consolidated financial statements.

1

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands, except share and per share data)

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Investment income
Interest income from investments	$	14,146	$	17,496	$	44,430	$	51,457
Payment-in-kind interest income	952		318		2,791		419
Other income
Expirations/terminations of unfunded commitments	313		141		509		1,340
Other fees	—		76		457		151
Total investment and other income	15,411		18,031		48,187		53,367
Operating expenses
Base management fee	1,552		1,378		4,647		4,089
Interest expense and amortization of fees	4,536		4,463		12,163		12,703
Administration agreement expenses	500		517		1,672		1,482
General and administrative expenses	769		1,347		2,344		2,438
Total operating expenses	7,357		7,705		20,826		20,712
Net investment income	8,054		10,326		27,361		32,655
Net realized and unrealized losses
Net realized losses on investments	(2,342)		(175)		(9,321)		(18,700)
Net change in unrealized losses on investments	(2,781)		(3,353)		(6,673)		(8,839)
Net realized and unrealized losses	(5,123)		(3,528)		(15,994)		(27,539)
Net increase in net assets resulting from operations	$	2,931	$	6,798	$	11,367	$	5,116
Net investment income per common share	$	0.34	$	0.51	$	1.15	$	1.61
Net increase in net assets per common share	$	0.12	$	0.33	$	0.48	$	0.25
Weighted average shares of common stock outstanding	23,689,363		20,297,200		23,689,363		20,297,200

See accompanying notes to consolidated financial statements.

2

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(unaudited)

(in thousands, except share data)

				Paid-in capital in excess of par value	Total distributable earnings (loss)	Net assets
Common stock		Preferred stock
Shares	Par value	Shares	Par value

Balance at June 30, 2023	20,297,200	$	203	525	$	—	$	310,370	$	(36,177)	$	274,396
Common stock distributions from distributable earnings	—	—		—	—		—		(8,525)		(8,525)
Preferred stock distributions from distributable earnings	—	—		—	—		—		(15)		(15)
Net decrease in net assets resulting from operations	—	—		—	—		—		6,798		6,798
Balance at September 30, 2023	20,297,200	$	203	525	$	—	$	310,370	$	(37,919)	$	272,654

Balance at December 31, 2022	20,297,200	$	203	525	$	—	$	310,370	$	(25,938)	$	284,635
Common stock distributions from distributable earnings	—	—		—	—		—		(17,050)		(17,050)
Preferred stock distributions from distributable earnings	—	—		—	—		—		(47)		(47)
Net decrease in net assets resulting from operations	—	—		—	—		—		5,116		5,116
Balance at September 30, 2023	20,297,200	$	203	525	$	—	$	310,370	$	(37,919)	$	272,654

Balance at June 30, 2024	23,689,363	$	237	525	$	—	$	352,037	$	(64,462)	$	287,812
Common stock distributions from distributable earnings	—	—		—	—		—		(9,713)		(9,713)
Preferred stock distributions from distributable earnings	—	—		—	—		—		(15)		(15)
Net increase in net assets resulting from operations	—	—		—	—		—		2,931		2,931
Balance at September 30, 2024	23,689,363	$	237	525	$	—	$	352,037	$	(71,259)	$	281,015

Balance at December 31, 2023	23,689,363	$	237	525	$	—	$	352,037	$	(61,732)	$	290,542
Common stock distributions from distributable earnings	—	—		—	—		—		(20,847)		(20,847)
Preferred stock distributions from distributable earnings	—	—		—	—		—		(47)		(47)
Net increase in net assets resulting from operations	—	—		—	—		—		11,367		11,367
Balance at September 30, 2024	23,689,363	$	237	525	$	—	$	352,037	$	(71,259)	$	281,015

See accompanying notes to consolidated financial statements.

3

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands)

	For the Nine Months Ended September 30,
	2024		2023
Cash Flows from Operating Activities:
Net increase in net assets resulting from operations	$	11,367	$	5,116
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:
Fundings and purchases of investments	(90,645)		(74,617)
Principal payments and proceeds from investments	99,874		67,533
Payment-in-kind interest on investments	(2,791)		(1,888)
Net change in unrealized losses on investments	6,673		8,839
Net realized losses on investments	9,321		18,700
Amortization and accretion of premiums and discounts, net	(3,093)		(4,921)
Amortization of debt fees and issuance costs	865		1,182
Change in operating assets and liabilities:
Prepaid expenses and other assets	(1,306)		(280)
Base management fee payable	81		66
Other accrued expenses and liabilities	(3,730)		2,270
Net cash provided by operating activities	26,616		22,000
Cash Flows from Financing Activities:
Borrowings under revolving credit facility	36,500		35,000
Repayments under revolving credit facility	(43,500)		(34,000)
Common stock distributions paid	(20,847)		(17,050)
Preferred stock distributions paid	(32)		(32)
Debt issuance costs of 2027 Notes	—		(16)
Deferred credit facility costs	—		(2,172)
Net cash used in financing activities	(27,879)		(18,270)
Net change in cash, cash equivalents and restricted cash	(1,263)		3,730
Cash, cash equivalents and restricted cash at beginning of period	60,845		37,066
Cash, cash equivalents and restricted cash at end of period	$	59,582	$	40,796
	September 30, 2024		September 30, 2023
Cash and cash equivalents	$	59,548	$	30,310
Restricted cash	34		10,486
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$	59,582	$	40,796
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	8,830	$	10,144
Excise taxes paid	$	572	$	250

See accompanying notes to consolidated financial statements.

4

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal		Cost(6)		Fair Value		Maturity Date
Debt Investments
Aerospace and Defense
Loft Orbital Solutions Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 5.00% EOT payment)	11/21/2023	$	1,000	$	990	$	990	11/30/2027
Loft Orbital Solutions Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 5.00% EOT payment)	12/27/2023	1,000		988		988		12/31/2027
Loft Orbital Solutions Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 5.00% EOT payment)	12/27/2023	1,000		988		988		12/31/2027
Total Aerospace and Defense - 1.06%*			3,000		2,966		2,966
Application Software
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	5/17/2022	667		655		656		5/31/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	7/21/2022	700		685		687		7/31/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	9/30/2022	460		448		450		9/30/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	2/6/2023	173		177		177		2/28/2025
Total Application Software - 0.70%*			2,000		1,965		1,970
Business Applications Software
FlashParking, Inc.	Growth Capital Loan (Prime + 1.75% cash interest rate + 2.50% PIK interest rate, 12.75% floor)	6/26/2024	10,069		9,911		10,013		6/1/2027
Morty, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 10.00% EOT payment)	12/21/2022	7,000		7,295		6,994		6/30/2026
Tide Platform Limited(1)(3)	Growth Capital Loan (10.00% interest rate, 6.50% EOT payment)	11/13/2020	484		795		802		12/31/2024
Tide Platform Limited(1)(3)	Revolver (10.25% interest rate, 4.00% EOT payment)	2/22/2021	1,768		1,814		1,708		4/30/2025
			2,252		2,609		2,510
Total Business Applications Software - 6.95%*			19,321		19,815		19,517
Business Products and Services
Alloy Technologies, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 13.75% floor, 5.00% EOT payment)	8/8/2024	1,500		1,467		1,467		8/31/2027
Cardless Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 6.50% floor, 2.00% EOT payment)	11/18/2021	228		263		263		11/30/2024
Cardless Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 5.75% EOT payment)	11/18/2021	4,200		4,439		4,439		11/30/2024
			4,428		4,702		4,702
Certamen Ventures Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 15.00% floor, 4.00% EOT payment)	11/30/2021	6,582		6,613		6,613		11/30/2026
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)	2/15/2022	960		1,088		953		8/31/2025
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)	4/25/2022	1,056		1,167		1,048		10/31/2025
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)	8/1/2022	493		529		489		1/31/2026
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)	10/7/2022	2,060		2,169		2,044		4/30/2026
			4,569		4,953		4,534
Phantom Auto Inc.(7)	Growth Capital Loan (Prime + 5.00% interest rate, 13.50% floor, 4.00% EOT payment)(2)	2/9/2024	4,858		4,732		1,650		2/28/2027
Quick Commerce Ltd.(1)(3)	Growth Capital Loan (6.00% PIK interest rate, 3.75% EOT payment)(2)	5/4/2022	796		658		615		12/31/2028
Quick Commerce Ltd.(1)(3)	Growth Capital Loan (6.00% PIK interest rate, 3.75% EOT payment)(2)	10/19/2023	133		110		102		12/31/2028
			929		768		717
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 9.00% floor, 5.75% EOT payment)(2)	10/28/2021	2,422		2,469		529		8/31/2024
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 13.50% floor, 5.75% EOT payment)(2)	5/12/2023	42		42		9		8/31/2024
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 14.25% floor, 5.75% EOT payment)(2)	12/22/2023	25		25		5		8/31/2024

5

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 14.25% floor, 5.75% EOT payment)(2)	6/14/2024	8	8	2	8/31/2024
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 14.25% floor, 5.75% EOT payment)(2)	7/26/2024	25	25	5	8/31/2024
			2,522	2,569	550
Worldwide Freight Logistics Limited(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.00% EOT payment)(2)	6/15/2022	199	221	244	6/30/2025
Worldwide Freight Logistics Limited(1)(3)	Revolver (Prime + 4.75% interest rate, 8.00% floor, 3.00% EOT payment)(2)	6/15/2022	633	649	713	12/31/2024
Worldwide Freight Logistics Limited(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.00% EOT payment)(2)	10/20/2023	244	249	273	10/31/2026
			1,076	1,119	1,230
Total Business Products and Services - 7.64%*			26,464	26,923	21,463
Business/Productivity Software
Construction Finance Corporation	Revolver (Prime + 6.75% interest rate, 15.25% floor, 2.50% EOT payment)(2)	12/29/2023	4,927	5,043	5,043	10/31/2024
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)	5/23/2023	5,200	5,288	5,288	11/30/2026
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)	8/21/2023	1,600	1,614	1,614	2/28/2027
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)	2/9/2024	600	596	596	8/31/2027
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)	3/11/2024	600	595	595	9/30/2027
			8,000	8,093	8,093
Idelic Inc.	Growth Capital Loan (Prime + 8.25% interest rate, 11.50% floor, 9.50% EOT payment)	9/14/2022	4,000	4,174	4,174	3/31/2026
Idelic Inc.	Growth Capital Loan (Prime + 2.50% interest rate, 10.00% floor, 2.50% EOT payment)(2)	11/15/2023	2,800	2,806	2,806	8/31/2026
			6,800	6,980	6,980
Luxury Presence, Inc.	Growth Capital Loan (Prime + 2.75% interest rate, 9.25% floor, 5.75% EOT payment)	4/9/2024	1,500	1,477	1,477	4/1/2027
Manufactured Networks, Inc.	Revolver (Prime + 7.25% interest rate, 15.75% floor)(2)	9/13/2023	3,286	3,286	3,286	9/30/2024
OnSiteIQ, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.75% floor, 6.75% EOT payment)	6/16/2023	2,416	2,476	2,476	5/31/2026
OnSiteIQ, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.75% floor, 6.75% EOT payment)(2)	2/1/2024	334	336	336	2/1/2027
			2,750	2,812	2,812
Thoughtful Automation Inc.	Growth Capital Loan (Prime + 3.75% interest rate, 12.25% floor, 6.00% EOT payment)	6/18/2024	2,439	2,408	2,408	6/1/2027
Virtual Facility, Inc.	Growth Capital Loan (Prime + 2.50% interest rate, 10.50% floor, 8.50% EOT payment)(2)	12/1/2023	1,000	1,000	1,000	6/1/2027
Total Business/Productivity Software - 11.07%*			30,702	31,099	31,099
Communications and Networking
Join Digital, Inc.	Growth Capital Loan (Prime + 3.75% interest rate, 11.25% floor, 2.00% EOT payment)	8/6/2024	4,900	4,859	4,859	8/1/2027
Total Communications and Networking - 1.73%*			4,900	4,859	4,859
Computer Hardware
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	3,622	3,620	3,557	2/28/2026
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	3,018	3,017	2,964	2/28/2026
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	1,207	1,207	1,186	2/28/2026
			7,847	7,844	7,707
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.00% EOT payment)(2)	10/17/2022	94	96	96	10/31/2026
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.00% EOT payment)(2)	1/27/2023	283	286	286	1/31/2027
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 6.50% EOT payment)(2)	5/11/2023	1,000	1,023	1,023	11/30/2025

6

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
			1,377	1,405	1,405
Total Computer Hardware - 3.24%*			9,224	9,249	9,112
Consumer Non-Durables
Don't Run Out, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)(2)	12/30/2021	1,000	1,067	1,067	6/30/2025
Don't Run Out, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 10.50% floor, 9.00% EOT payment)(2)	10/31/2022	575	637	637	10/31/2025
			1,575	1,704	1,704
Prose Beauty, Inc.	Growth Capital Loan (Prime + 3.75% interest rate, 8.50% floor, 8.50% EOT payment)	2/2/2024	6,000	5,819	5,819	5/31/2027
Trueskin GmbH(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 8.25% EOT payment)(2)	1/9/2023	923	971	1,007	1/31/2026
Total Consumer Non-Durables - 3.04%*			8,498	8,494	8,530
Consumer Products and Services
Baby Generation, Inc.	Growth Capital Loan (Prime + 7.50% interest rate, 10.75% floor, 8.00% EOT payment)	1/26/2022	750	800	800	1/31/2025
Baby Generation, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 7.50% EOT payment)(2)	12/19/2022	250	265	265	12/31/2024
Baby Generation, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 7.50% EOT payment)(2)	3/30/2023	875	917	917	3/31/2025
			1,875	1,982	1,982
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (9.00% interest rate, 2.00% EOT payment)(2)	10/13/2022	2,032	2,057	2,437	4/30/2026
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (10.50% interest rate, 2.00% EOT payment)(2)	10/13/2022	1,223	1,237	1,466	4/30/2026
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (10.50% interest rate, 2.00% EOT payment)(2)	10/13/2022	1,328	1,344	1,588	4/30/2026
			4,583	4,638	5,491
Dance GmbH(1)(3)(7)	Growth Capital Loan(2)(9)	4/14/2022	723	724	249	8/31/2031
Dance GmbH(1)(3)(7)	Growth Capital Loan(2)(9)	7/14/2022	268	266	99	8/31/2031
Dance GmbH(1)(3)(7)	Growth Capital Loan(2)(9)	11/14/2022	69	67	25	8/31/2031
Dance GmbH(1)(3)(7)	Growth Capital Loan(2)(9)	3/15/2023	529	502	186	8/31/2031
			1,589	1,559	559
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.25% EOT payment)(2)	6/27/2022	322	325	151	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.25% EOT payment)(2)	8/12/2022	107	108	50	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.25% EOT payment)(2)	12/9/2022	215	213	101	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.25% EOT payment)(2)	3/1/2023	322	318	151	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.00% EOT payment)(2)	10/5/2023	11	11	5	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.00% EOT payment)(2)	12/11/2023	18	18	8	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.00% EOT payment)(2)	2/2/2024	59	58	26	2/28/2027
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 5.00% EOT payment)(2)	6/14/2024	33	31	13	6/30/2027
			1,087	1,082	505
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)	12/20/2022	4,800	5,008	5,008	6/30/2025
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)	12/20/2022	2,250	2,346	2,346	6/30/2025
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)(2)	1/18/2024	3,200	3,203	3,203	7/31/2026
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)(2)	1/18/2024	3,000	3,003	3,003	7/31/2026
			13,250	13,560	13,560
FitOn, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 11.25% floor, 2.00% EOT payment)(2)	2/29/2024	4,444	4,362	4,362	8/1/2027
FitOn, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 11.25% floor, 2.00% EOT payment)(2)	3/8/2024	556	545	545	9/1/2027

7

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
FitOn, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 11.25% floor, 2.00% EOT payment)(2)	6/28/2024	500	489	489	12/1/2027
			5,500	5,396	5,396
Flink SE(1)(3)	Growth Capital Loan (9.75% PIK interest rate, 6.75% EOT payment)(2)	7/5/2022	1,334	1,369	899	8/31/2028
Flink SE(1)(3)	Growth Capital Loan (9.75% PIK interest rate, 6.75% EOT payment)(2)	10/21/2022	1,334	1,359	899	8/31/2028
			2,668	2,728	1,798
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.50% EOT payment)	4/8/2022	10	11	11	4/30/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.50% EOT payment)	5/16/2022	28	31	31	5/31/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 6.00% EOT payment)	5/24/2022	183	208	208	5/31/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.50% EOT payment)	4/28/2023	372	378	378	4/30/2026
			593	628	628
Headout Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 11.75% floor, 4.25% EOT payment)(2)	3/15/2024	2,351	2,322	2,322	3/1/2027
Hydrow, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)	2/9/2021	1,650	1,799	1,785	12/31/2024
Hydrow, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)	2/9/2021	3,300	3,593	3,564	12/31/2024
Hydrow, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 10.00% EOT payment)	8/10/2021	5,025	5,441	5,370	2/28/2025
Hydrow, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 10.00% EOT payment)	8/31/2021	5,025	5,440	5,368	2/28/2025
			15,000	16,273	16,087
JOKR S.a.r.l.(1)(3)	Revolver (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	10/14/2021	1,252	1,402	1,391	7/31/2025
JOKR S.a.r.l.(1)(3)	Growth Capital Loan (7.40% cash interest rate + 7.10% PIK interest rate, 8.00% EOT payment)	11/3/2021	4,604	4,678	4,641	11/30/2025
JOKR S.a.r.l.(1)(3)	Growth Capital Loan (9.31% cash interest rate + 8.94% PIK interest rate, 8.00% EOT payment)(2)	8/17/2022	1,046	1,050	1,050	8/31/2026
			6,902	7,130	7,082
Lower Holding Company	Growth Capital Loan (Prime + 3.75% interest rate, 11.25% floor, 5.00% EOT payment)	12/28/2022	1,472	1,528	1,528	12/31/2025
MA Micro Limited(1)(3)	Growth Capital Loan(2)(9)	12/31/2023	1,666	577	331	12/31/2026
MA Micro Limited(1)(3)	Convertible Note(2)(9)	12/31/2023	1,666	1,085	1,097	12/31/2028
MA Micro Limited(1)(3)	Growth Capital Loan(2)(9)	12/31/2023	555	474	154	12/31/2028
			3,887	2,136	1,582
Nakdcom One World AB(1)(3)	Growth Capital Loan (Prime + 8.25% PIK interest rate, 11.50% floor, 10.00% EOT payment)(2)	6/6/2022	635	593	582	12/31/2026
Nakdcom One World AB(1)(3)	Growth Capital Loan (Prime + 8.25% PIK interest rate, 11.50% floor, 10.00% EOT payment)(2)	8/29/2022	356	331	347	12/31/2026
			991	924	929
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	6/30/2022	525	540	540	6/30/2026
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	12/30/2022	207	209	209	12/31/2026
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	2/28/2023	172	172	172	2/28/2027
			904	921	921
Placemakr, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 12.00% floor, 4.50% EOT payment)	5/30/2024	2,500	2,440	2,440	5/1/2027
Placemakr, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.50% floor, 5.50% EOT payment)	5/30/2024	2,500	2,442	2,442	11/1/2026
			5,000	4,882	4,882
Project 1920, Inc.(7)	Revolver (Prime + 5.75% interest rate, 9.00% floor, 2.00% EOT payment)(2)	3/25/2022	350	357	150	3/25/2023
Roadsurfer GmbH(1)(3)	Growth Capital Loan (Prime + 2.50% interest rate, 11.00% floor, 4.50% EOT payment)(2)	4/24/2024	5,015	4,598	4,775	4/1/2027
Roadsurfer GmbH(1)(3)	Growth Capital Loan (Prime + 2.50% interest rate, 11.00% floor, 4.50% EOT payment)(2)	4/24/2024	2,507	2,300	2,388	4/1/2027
			7,522	6,898	7,163

8

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Spinn, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 4.50% EOT payment)(2)	2/24/2022	794	819	36	8/31/2024
Total Consumer Products and Services - 25.84%*			76,318	75,763	72,601
Cultivation
InFarm Technologies Limited(1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	3,886	1,217	—	10/31/2028
InFarm Technologies Limited(1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	15	15	—	10/31/2028
InFarm Technologies Limited(1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	349	109	—	10/31/2028
InFarm Technologies Limited(1)(3)(7)	Growth Capital Loan (50.00% EOT payment)(2)	6/20/2024	22	22	—	9/20/2024
InFarm Technologies Limited(1)(3)(7)	Growth Capital Loan(2)(9)	9/20/2024	5	5	—	10/20/2024
Total Cultivation - —%*			4,277	1,368	—
E-Commerce - Clothing and Accessories
FabFitFun, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 12.00% floor, 6.50% EOT payment)	9/29/2021	8,750	8,694	8,694	11/30/2027
Minted, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.50% floor, 6.00% EOT payment)	6/15/2022	10,000	10,243	10,243	6/30/2027
Fabletics, Inc.	Growth Capital Loan (9.00% PIK interest rate, 2.50% EOT payment)(2)	4/25/2024	1,278	1,144	1,144	4/25/2029
Trendly, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.50% EOT payment)	5/27/2021	6,500	7,008	6,993	11/30/2024
Trendly, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.50% EOT payment)(2)	6/7/2022	1,000	1,040	1,040	12/31/2025
			7,500	8,048	8,033
Total E-Commerce - Clothing and Accessories - 10.00%*			27,528	28,129	28,114
E-Commerce - Personal Goods
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	7/6/2021	1,669	1,713	1,582	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	7/21/2021	263	275	249	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	8/10/2021	315	329	299	8/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	10/6/2021	1,458	1,521	1,383	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	11/2/2021	947	985	898	11/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	11/2/2021	2,540	2,643	2,409	11/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	848	884	804	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	324	338	307	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	57	59	54	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	1/28/2022	1,836	1,908	1,741	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	4/14/2022	700	721	663	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	4/14/2022	263	271	250	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	9/21/2022	1,710	1,737	1,622	3/31/2026
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	11/1/2022	3,078	3,116	2,919	4/30/2026
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	12/22/2022	184	185	174	6/30/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	11/1/2023	180	178	178	10/31/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	11/13/2023	1,369	1,349	1,349	11/30/2026

9

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	12/28/2023	104	102	102	12/31/2026
Forum Brands, LLC	Growth Capital Loan(9)	6/16/2021	2,179	2,179	1,758	12/31/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	6/27/2024	147	141	141	6/30/2027
Total E-Commerce - Personal Goods - 6.72%*			20,171	20,634	18,882
Educational Software
Panorama Education, Inc.	Growth Capital Loan (Prime + 2.00% interest rate, 10.50% floor, 7.50% EOT payment)	7/30/2024	3,000	2,973	2,973	1/1/2027
Panorama Education, Inc.	Revolver (Prime + 1.00% interest rate, 9.50% floor, 4.00% EOT payment)(2)	7/30/2024	160	158	158	7/31/2026
Total Educational Software - 1.11%*			3,160	3,131	3,131
Energy
Arcadia Power, Inc.	Growth Capital Loan (11.75% interest rate, 7.75% EOT payment)	5/6/2022	1,319	1,216	1,216	11/30/2026
Arcadia Power, Inc.	Growth Capital Loan (11.75% interest rate, 7.75% EOT payment)	6/29/2022	5,000	5,110	5,110	12/31/2026
Total Energy - 2.25%*			6,319	6,326	6,326
Entertainment Software
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 6.25% PIK interest rate, 13.75% floor, 4.50% EOT payment)(2)	4/20/2022	1,000	1,002	998	4/30/2025
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 5.75% PIK interest rate, 14.25% floor, 4.50% EOT payment)(2)	7/28/2023	75	75	74	7/31/2026
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 5.75% PIK interest rate, 14.25% floor, 4.50% EOT payment)(2)	11/20/2023	50	50	49	7/31/2026
			1,125	1,127	1,121
FRVR Limited(1)(3)	Growth Capital Loan (Prime + 8.25% interest rate, 11.50% floor, 11.00% EOT payment)(2)	5/17/2022	2,670	2,694	2,694	4/1/2027
Total Entertainment Software - 1.36%*			3,795	3,821	3,815
Environmental Services
Earth Funeral Group, Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 11.75% floor, 5.50% EOT payment)(2)	3/1/2024	1,430	1,417	1,417	3/1/2027
Total Environmental Services - 0.50%*			1,430	1,417	1,417
Financial Software
Ocrolus Inc.	Growth Capital Loan (Prime + 2.50% interest rate, 9.75% floor, 5.00% EOT payment)	8/14/2024	4,286	4,268	4,268	2/1/2028
Parker Group Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.00% floor, 2.50% EOT payment)	8/14/2024	550	540	540	8/31/2027
Wisetack, Inc.(1)	Growth Capital Loan (Prime + 4.75% interest rate, 10.25% floor, 6.75% EOT payment)	4/3/2023	5,000	5,067	5,067	10/31/2026
Total Financial Software - 3.51%*			9,836	9,875	9,875
Food Products
AllPlants Ltd(1)(3)	Revolver (Prime + 2.50% interest rate, 11.00% floor, 7.50% EOT payment)(2)	5/24/2021	1,393	1,428	1,365	4/30/2025
AllPlants Ltd(1)(3)	Growth Capital Loan (5.50% cash interest rate + 6.50% PIK interest rate, 7.00% EOT payment)(2)	7/22/2021	142	152	145	7/31/2025
AllPlants Ltd(1)(3)	Growth Capital Loan (Prime + 5.50% interest rate + 8.30% PIK interest rate, 19.30% floor, 9.00% EOT payment)(2)	9/1/2022	933	944	1,063	8/31/2026
Total Food Products - 0.92%*			2,468	2,524	2,573
Healthcare Services
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	1/18/2023	201	199	199	1/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	5/19/2023	176	174	174	5/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	5/19/2023	177	175	175	5/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	8/16/2023	247	244	244	8/31/2027

10

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	10/6/2023	187	185	185	10/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	10/6/2023	39	39	39	10/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	12/12/2023	147	146	146	12/31/2027
Petfolk Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	12/12/2023	150	149	149	12/31/2027
			1,324	1,311	1,311
OpenLoop Health, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.25% floor, 7.50% EOT payment)	6/22/2023	1,776	1,809	1,816	6/30/2026
OpenLoop Health, Inc.	Revolver (Prime + 1.50% interest rate, 9.25% floor, 4.00% EOT payment)(2)	6/22/2023	2,000	2,043	2,049	6/16/2025
OpenLoop Health, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.25% floor, 7.50% EOT payment)	11/20/2023	3,000	2,976	2,990	11/30/2026
OpenLoop Health, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.25% floor, 7.50% EOT payment)(2)	9/30/2024	7,778	7,308	7,362	9/30/2027
			14,554	14,136	14,217
Total Healthcare Services - 5.53%*			15,878	15,447	15,528
Healthcare Technology Systems
K Health, Inc.	Growth Capital Loan (Prime + 2.25% interest rate, 10.00% floor, 4.75% EOT payment)	7/14/2023	4,459	4,459	4,459	7/31/2026
Thirty Madison, Inc.	Growth Capital Loan (Prime + 2.42% cash interest rate + 2.33% PIK, 6.25% floor, 6.00% EOT payment)(2)	6/12/2023	9,328	9,486	9,195	6/12/2027
Thirty Madison, Inc.	Growth Capital Loan (Prime + 2.42% cash interest rate + 2.33% PIK, 6.25% floor, 6.00% EOT payment)(2)	6/14/2023	702	699	678	6/12/2027
			10,030	10,185	9,873
Total Healthcare Technology Systems - 5.10%*			14,489	14,644	14,332
Human Capital Services
Karat Financial Technologies Incorporated	Revolver (Prime + 3.75% interest rate, 10.00% floor, 2.85% EOT payment)(2)	1/11/2023	3,000	3,053	3,053	1/11/2025
Karat Financial Technologies Incorporated	Revolver (Prime + 3.75% interest rate, 10.00% floor, 2.85% EOT payment)(2)	9/22/2023	281	263	263	1/11/2025
Total Human Capital Services - 1.18%*			3,281	3,316	3,316
Information Services (B2C)
Infinite Athlete, Inc. (f/k/a Tempus Ex Machina, Inc.)	Growth Capital Loan (Prime + 5.00% interest rate, 10.50% floor, 5.25% EOT payment)(2)	5/4/2023	2,000	2,031	2,031	2/28/2027
Infinite Athlete, Inc. (f/k/a Tempus Ex Machina, Inc.)	Growth Capital Loan (Prime + 5.25% interest rate, 11.25% floor, 5.50% EOT payment)(2)	5/4/2023	7,000	7,081	7,081	5/31/2027
Total Information Services (B2C) - 3.24%*			9,000	9,112	9,112
Infrastructure
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Growth Capital Loan (12.00% interest rate, 10.50% EOT payment)	5/27/2020	5,000	5,279	5,374	1/31/2027
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Growth Capital Loan (12.00% interest rate, 10.50% EOT payment)	5/27/2020	2,500	2,640	2,687	1/31/2027
Total Infrastructure - 2.87%*			7,500	7,919	8,061
Life and Health Insurance
Angle Health, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.25% floor, 8.00% EOT payment)(2)	12/30/2022	500	510	510	12/31/2025
Angle Health, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.25% floor, 8.00% EOT payment)(2)	3/24/2023	500	505	505	3/31/2026
Total Life and Health Insurance - 0.36%*			1,000	1,015	1,015
Medical Software and Information Services
HI LLC (Kernel)	Growth Capital Loan (Prime + 1.50% cash interest rate + 6.50% PIK, 15.50% floor, 8.50% EOT payment)	7/1/2021	2,493	2,652	2,576	7/31/2025
Total Medical Software and Information Services - 0.92%*			2,493	2,652	2,576
Multimedia and Design Software

11

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Hover Inc.	Growth Capital Loan (Prime + 3.00% interest rate, 9.50% floor, 6.00% EOT payment)	9/10/2024	4,000	3,949	3,949	3/31/2029
Spire Animation Studios, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 6.87% EOT payment)	8/12/2021	782	874	78	2/29/2024
Spire Animation Studios, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 7.13% EOT payment)	9/30/2021	534	576	64	3/31/2024
			1,316	1,450	142
Total Multimedia and Design Software - 1.46%*			5,316	5,399	4,091
Network Management Software
Skyflow Inc.	Growth Capital Loan (Prime + 1.50% interest rate, 9.50% floor, 5.00% EOT payment)	10/2/2023	4,545	4,518	4,518	10/1/2028
Skyflow Inc.	Growth Capital Loan (Prime + 1.50% interest rate, 9.50% floor, 5.00% EOT payment)	10/2/2023	455	451	451	10/1/2028
Total Network Management Software - 1.77%*			5,000	4,969	4,969
Other Financial Services
Jerry Services, Inc.	Growth Capital Loan (10.00% interest rate, 8.25% EOT payment)(2)	6/13/2022	500	524	520	9/30/2025
Jerry Services, Inc.	Growth Capital Loan (13.75% interest rate, 8.25% EOT payment)(2)	3/17/2023	500	511	514	6/30/2026
			1,000	1,035	1,034
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 10.50% floor, 5.00% EOT payment)(2)	8/23/2022	1,011	1,036	1,036	8/31/2025
Relay Commerce, Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 14.25% floor, 2.00% EOT payment)(2)	4/4/2024	4,500	4,406	4,406	10/31/2027
			5,511	5,442	5,442
Total Other Financial Services - 2.30%*			6,511	6,477	6,476
Real Estate Services
Common Living Inc.(7)	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 9.25% EOT payment)	4/30/2021	2,500	2,668	2,521	9/30/2025
Common Living Inc.(7)	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 7.25% EOT payment)	3/18/2022	4,742	4,967	4,694	9/30/2025
			7,242	7,635	7,215
Homelight, Inc.	Growth Capital Loan (17.25% interest rate)(2)	12/30/2022	500	496	493	12/31/2026
Homelight, Inc.	Growth Capital Loan (18.00% interest rate)(2)	5/22/2023	250	247	246	5/31/2027
			750	743	739
Homeward, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 9.75% EOT payment)	12/30/2021	4,000	4,229	4,033	6/30/2026
Homeward, Inc.	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 2.25% EOT payment)	12/30/2022	1,056	1,137	1,133	12/31/2024
			5,056	5,366	5,166
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/3/2021	250	265	265	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/3/2021	800	841	841	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/3/2021	220	233	233	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	12/13/2021	105	112	112	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/13/2021	440	467	467	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/15/2021	208	221	221	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	12/15/2021	150	160	160	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/15/2021	1,372	1,442	1,442	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/21/2021	760	799	799	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	1/31/2022	170	180	180	1/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	2/25/2022	116	123	123	2/28/2025

12

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (unaudited) (dollars in thousands) As of September 30, 2024
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal		Cost(6)		Fair Value		Maturity Date
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	3/15/2022	300		315		315		3/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	4/22/2022	1,110		1,163		1,163		4/30/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	4/22/2022	991		1,038		1,038		4/30/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)(2)	5/23/2022	216		227		227		5/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	7/19/2022	200		206		206		7/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	7/19/2022	100		104		104		7/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	12/5/2022	150		154		154		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	12/5/2022	361		370		370		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	12/5/2022	565		576		576		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	5/23/2023	240		242		242		5/31/2026
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	5/23/2023	434		440		440		5/31/2026
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)(2)	5/23/2023	720		732		732		5/31/2026
			9,978		10,410		10,410
Total Real Estate Services - 8.37%*			23,026		24,154		23,530
Social/Platform Software
Sylva, Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 6.50% floor, 1.00% EOT payment)	11/30/2021	903		922		830		5/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	984		1,021		919		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,325		1,374		1,237		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,590		1,649		1,484		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,590		1,649		1,484		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% interest rate, 8.75% floor, 3.50% EOT payment)	12/27/2021	795		825		742		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 9.00% interest rate, 17.50% floor, 4.00% EOT payment)(2)	12/18/2023	111		115		104		3/1/2024
Total Social/Platform Software - 2.42%*			7,298		7,555		6,800
Total Debt Investments - 123.14%*			$	360,203	$	361,017	$	346,056

13

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Warrant Investments(8)(9)
Aerospace and Defense
Astranis Space Technologies Corp.	Preferred Stock(2)	5/27/2020	70,959	$	95	$	578
Dedrone Holdings, Inc.	Preferred Stock(2)	3/2/2021	71,018	92		272
LeoLabs, Inc.	Preferred Stock(2)	1/20/2022	72,837	66		76
Loft Orbital Solutions Inc.	Common Stock	7/15/2022	6,747	58		92
Total Aerospace and Defense - 0.36%*				311		1,018
Application Software
Flo Health UK Limited(1)(3)	Preferred Stock(2)	5/10/2022	1,079	10		22
Total Application Software - 0.01%*				10		22
Business Applications Software
Dialpad, Inc.	Preferred Stock(2)	8/3/2020	14,490	51		12
Filevine, Inc.	Preferred Stock(2)	4/20/2021	74,462	15		353
FlashParking, Inc.	Preferred Stock	6/15/2021	93,767	366		582
FlashParking, Inc.	Preferred Stock	9/30/2021	23,442	90		146
FlashParking, Inc.	Preferred Stock	6/26/2024	25,838	70		70
				526		798
Morty, Inc.	Preferred Stock	10/1/2021	88,980	66		4
Narvar, Inc.	Preferred Stock(2)	8/28/2020	43,580	102		51
Tide Holdings Limited(1)(3)	Preferred Stock	11/13/2020	52,609	45		159
Uniphore Technologies, Inc.	Common Stock(2)	12/22/2021	10,000	10		29
Total Business Applications Software - 0.50%*				815		1,406
Business Products and Services
Alloy Technologies, Inc.	Preferred Stock	9/9/2022	40,748	50		32
Alloy Technologies, Inc.	Preferred Stock	8/8/2024	30,561	24		24
				74		56
Cardless Inc.	Common Stock	11/18/2021	20,619	28		11
Cart.com, Inc.	Common Stock(2)	12/30/2021	8,183	119		160
Cart.com, Inc.	Preferred Stock(2)	3/31/2022	907	6		10
				125		170
Certamen Ventures Inc.	Preferred Stock	10/7/2021	90,266	42		42
Certamen Ventures Inc.	Preferred Stock	12/1/2022	229,881	85		97
Certamen Ventures Inc.	Preferred Stock	12/15/2023	538,703	205		232
				332		371
Elsker, Inc.	Preferred Stock(2)	9/1/2021	35,492	18		16
Path Robotics, Inc.	Common Stock	12/17/2021	40,579	130		72
Phantom Auto Inc.	Preferred Stock(2)	7/12/2021	141,409	315		—
Phantom Auto Inc.	Preferred Stock(2)	7/12/2021	31,698	35		—
Phantom Auto Inc.	Preferred Stock(2)	7/12/2021	22,188	24		—
Phantom Auto Inc.	Preferred Stock(2)	2/9/2024	34,288	—		—
				374		—
RedFish Labs, Inc.	Preferred Stock(2)	11/23/2021	53,862	122		140
SubStack, Inc.	Preferred Stock(2)	7/13/2022	1,141	6		6
Vecna Robotics, Inc.	Common Stock(2)	12/16/2022	51,590	308		70
Worldwide Freight Logistics Limited(1)(3)	Preferred Stock(2)	6/15/2022	1,502	25		28
Worldwide Freight Logistics Limited(1)(3)	Preferred Stock(2)	5/30/2023	542	9		10
				34		38
Total Business Products and Services - 0.34%*				1,551		950
Business to Business Marketplace
Material Technologies Corporation	Preferred Stock(2)	8/24/2020	23,576	156		140
Total Business to Business Marketplace - 0.05%*				156		140
Business/Productivity Software

14

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Construction Finance Corporation	Preferred Stock(2)	7/8/2022	38,060	14	20
Construction Finance Corporation	Preferred Stock(2)	12/29/2023	126,868	48	67
				62	87
Cresta Intelligence Inc.	Common Stock(2)	6/6/2024	4,967	4	11
FireHydrant, Inc.	Preferred Stock	5/23/2023	347,863	115	188
Highbeam, Inc.	Common Stock(2)	2/10/2023	40,380	2	6
Idelic Inc.	Preferred Stock	12/10/2021	30,551	46	5
Idelic Inc.	Preferred Stock(2)	11/15/2023	36,661	13	7
				59	12
Luxury Presence, Inc.	Preferred Stock	9/20/2023	11,215	58	36
Machinify, Inc.	Common Stock(2)	8/25/2023	27,040	36	36
Manufactured Networks, Inc.	Preferred Stock(2)	5/6/2022	99,657	89	41
Manufactured Networks, Inc.	Preferred Stock(2)	9/13/2023	73,666	25	22
				114	63
Metropolis Technologies, Inc.	Common Stock(2)	3/30/2022	3,495	3	42
OnSiteIQ, Inc.	Common Stock	6/16/2023	102,864	14	46
Strata Identity, Inc.	Preferred Stock(2)	11/3/2021	4,297	4	4
Thoughtful Automation Inc.	Preferred Stock	6/18/2024	36,745	62	49
Virtual Facility, Inc.	Preferred Stock(2)	10/3/2023	54,775	16	16
Total Business/Productivity Software - 0.21%*				549	596
Commercial Services
Dumpling, Inc.	Preferred Stock(2)	9/30/2020	17,003	6	6
Total Commercial Services - —%*				6	6
Communications and Networking
Join Digital, Inc.	Common Stock	8/6/2024	47,770	74	74
Total Communications and Networking - 0.03%*				74	74
Communication Software
Hiya, Inc.	Preferred Stock(2)	5/27/2020	115,073	54	54
Total Communication Software - 0.02%*				54	54
Computer Hardware
Canvas Construction Inc.	Preferred Stock(2)	11/30/2021	92,940	79	—
Swift Navigation, Inc.	Preferred Stock(2)	7/30/2020	46,589	39	109
Quantum Circuits, Inc.	Preferred Stock(2)	4/29/2022	31,067	40	41
Grey Orange International Inc.	Preferred Stock(2)	3/16/2021	26,386	92	61
Total Computer Hardware - 0.08%*				250	211
Consumer Finance
Activehours, Inc.	Preferred Stock(2)	10/8/2020	49,296	129	319
Activehours, Inc.	Preferred Stock(2)	9/30/2021	6,162	16	40
Activehours, Inc.	Preferred Stock(2)	12/30/2022	14,800	80	96
Activehours, Inc.	Preferred Stock(2)	4/19/2024	3,907	16	16
				241	471
Upgrade, Inc.	Preferred Stock(2)	5/27/2020	273,738	44	109
Vestwell Holdings Inc.	Preferred Stock(2)	9/3/2021	36,715	54	30
Total Consumer Finance - 0.22%*				339	610
Consumer Non-Durables
Athletic Greens International, Inc.	Preferred Stock(2)	6/3/2022	113	4	4
Don't Run Out, Inc.	Preferred Stock(2)	12/30/2021	18,398	14	6
Don't Run Out, Inc.	Preferred Stock(2)	10/31/2022	24,531	16	7
				30	13
Prose Beauty, Inc.	Common Stock	12/18/2023	49,020	311	479
Trueskin GmbH(1)(3)	Preferred Stock(2)	4/13/2022	20	9	9
Total Consumer Non-Durables - 0.18%*				354	505

15

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Consumer Products and Services
Baby Generation, Inc.	Common Stock	1/26/2022	13,587	10	10
The Black Tux, Inc.	Preferred Stock(2)	11/5/2021	142,939	139	460
Bloom and Wild Midco 2 Limited(1)(3)	Ordinary Shares(2)	10/7/2022	192	9	—
Dance Gmbh(1)(3)	Preferred Stock(2)	3/31/2022	35	37	—
Dance Gmbh(1)(3)	Preferred Stock(2)	2/21/2023	45	21	—
Dance Gmbh(1)(3)	Common Stock(2)	3/21/2024	34	8	—
				66	—
Elektra Mobility Inc.(11)	Preferred Stock(2)	5/6/2022	—	—	—
Elodie Games, Inc.	Preferred Stock(2)	9/16/2021	22,874	48	48
Ephemeral Solutions, Inc.	Common Stock(2)	2/24/2022	2,286	12	—
Ephemeral Solutions, Inc.	Common Stock(2)	2/2/2024	135,353	1	1
				13	1
Ever/Body, Inc.	Preferred Stock	9/7/2021	357,970	175	57
Everdrop GmbH(1)(3)	Preferred Stock(2)	3/16/2022	14	24	25
FitOn, Inc.	Common Stock(2)	2/29/2024	33,548	74	74
FitOn, Inc.	Common Stock(2)	6/26/2024	3,355	7	7
				81	81
Flink SE(1)(3)	Preferred Stock(2)	4/13/2022	18	23	—
Flink SE(1)(3)(11)	Preferred Stock(2)	8/21/2024	—	—	—
				23	—
Foodology Inc.(1)(3)	Preferred Stock	3/25/2022	2,869	12	9
Headout Inc.	Common Stock	3/15/2024	8,991	58	20
Hydrow, Inc.	Common Stock	2/9/2021	74,157	70	—
Hydrow, Inc.	Preferred Stock	8/6/2021	22,299	35	—
Hydrow, Inc.	Preferred Stock	8/6/2021	13,936	25	—
				130	—
Immersive Group Gaming LTD(1)	Preferred Stock(2)	7/12/2021	451,039	115	86
JOKR S.a.r.l.(1)(3)	Preferred Stock	5/10/2024	14,763	538	240
JOKR S.a.r.l.(1)(3)	Preferred Stock	5/10/2024	5,905	96	96
				634	336
Lower Holding Company	Preferred Stock	12/28/2022	36,608	47	7
Nakdcom One World AB(1)(3)	Preferred Stock(2)	6/6/2022	14,709	20	—
Nakdcom One World AB(1)(3)	Preferred Stock(2)	9/29/2023	14,709	26	28
Nakdcom One World AB(1)(3)	Preferred Stock(2)	12/28/2023	15,000	—	—
Nakdcom One World AB(1)(3)	Preferred Stock(2)	12/28/2023	45,000	79	84
				125	112
Pair Eyewear, Inc.	Common Stock(2)	7/12/2022	2,288	5	7
Placemakr, Inc.	Preferred Stock	8/25/2023	31,796	118	75
Planet A Foods GmbH(1)(3)	Preferred Stock(2)	6/1/2022	13,722	30	30
Planet A Foods GmbH(1)(3)	Preferred Stock(2)	8/27/2024	139,560	—	—
				30	30
Project 1920, Inc.	Preferred Stock(2)	3/25/2022	2,823	2	—
Roadsurfer GmbH(1)(3)	Preferred Stock(2)	4/23/2024	90	669	697
Spinn, Inc.	Preferred Stock(2)	2/24/2022	8,142	10	—
Tempo Interactive Inc.	Preferred Stock(2)	3/31/2021	4,413	25	4
Tripscout, Inc.	Preferred Stock(2)	8/12/2021	37,532	7	7
Well Dot, Inc.	Preferred Stock(2)	12/18/2020	12,680	55	67
Well Dot, Inc.	Preferred Stock(2)	3/29/2022	2,026	9	9
				64	76
Total Consumer Products and Services - 0.76%*				2,639	2,148
Database Software
Cohesity, Inc.	Preferred Stock(2)	5/27/2020	3,789	21	21
SiSense, Inc.	Success Fee(2)	12/28/2021	—	95	233
Total Database Software - 0.09%*				116	254

16

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
E-Commerce - Clothing and Accessories
FabFitFun, Inc.	Preferred Stock	9/23/2021	81,572	217	77
FabFitFun, Inc.	Common Stock	9/29/2023	60,692	194	160
				411	237
Minted, Inc.	Preferred Stock	9/30/2020	29,702	300	143
Trendly, Inc.	Preferred Stock	5/27/2021	191,580	115	199
Total E-Commerce - Clothing and Accessories - 0.21%*				826	579
E-Commerce - Personal Goods
Forum Brands, LLC	Preferred Stock	7/6/2021	14,143	146	44
Forum Brands, LLC	Preferred Stock	12/23/2021	12,964	188	41
Forum Brands, LLC	Preferred Stock	10/11/2023	2,829	42	9
				376	94
Merama Inc.	Preferred Stock(2)	4/28/2021	71,728	589	563
Total E-Commerce - Personal Goods - 0.23%*				965	657
Educational Software
Panorama Education, Inc.	Preferred Stock(2)	7/30/2024	2,577	14	14
Total Educational Software - 0.00%*				14	14
Elder and Disabled Care
Honor Technology, Inc.	Preferred Stock(2)	5/27/2020	130,618	50	192
Total Elder and Disabled Care - 0.07%*				50	192
Energy
Arcadia Power, Inc.	Preferred Stock	12/10/2021	30,810	77	79
Arcadia Power, Inc.	Preferred Stock	6/29/2022	19,795	117	29
				194	108
Kobold Metals Company	Preferred Stock(2)	7/16/2021	37,287	37	1,035
Total Energy - 0.41%*				231	1,143
Entertainment Software
Encore Music Technologies, Inc.	Preferred Stock(2)	4/14/2022	15,280	15	—
Encore Music Technologies, Inc.	Preferred Stock(2)	5/16/2023	4,475	1	—
Encore Music Technologies, Inc.	Common Stock(2)	5/31/2024	79,668	1	1
				17	1
FRVR Limited(1)(3)	Preferred Stock(2)	5/17/2022	37,335	60	38
FRVR Limited(1)(3)	Preferred Stock(2)	5/17/2024	53,335	33	54
				93	92
Total Entertainment Software - 0.03%*				110	93
Environmental Services
Earth Funeral Group, Inc.	Preferred Stock	3/1/2024	143,196	63	63
Total Environmental Services - 0.02%*				63	63
Financial Software
Ocrolus Inc.	Common Stock	8/14/2024	70,132	58	58
Parker Group Inc.	Common Stock	4/6/2022	5,334	17	9
Parker Group Inc.	Common Stock	8/14/2024	2,491	5	5
				22	14
Wisetack, Inc.(1)	Common Stock	12/21/2022	23,086	84	36
Zolve Innovations Inc.	Preferred Stock(2)	7/28/2022	3,172	9	9
Total Financial Software - 0.04%*				173	117
Food Products
AllPlants Ltd(1)(3)	Preferred Stock(2)	5/6/2021	74,534	154	80
AllPlants Ltd(1)(3)	Preferred Stock(2)	5/29/2024	17,620	18	19
Total Food Products - 0.04%*				172	99
General Media and Content

17

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Overtime Sports, Inc.	Preferred Stock(2)	5/4/2022	2,234	5	5
Total General Media and Content - —%*				5	5
Healthcare Services
Found Health, Inc.	Preferred Stock(2)	3/25/2022	2,465	1	1
Levels Health Inc.	Preferred Stock(2)	9/3/2021	47,162	37	216
OpenLoop Health, Inc.	Preferred Stock	6/16/2023	11,186	51	81
OpenLoop Health, Inc.	Preferred Stock(2)	6/16/2023	5,593	25	40
OpenLoop Health, Inc.	Preferred Stock	11/20/2023	16,779	89	121
OpenLoop Health, Inc.	Preferred Stock	9/30/2024	43,625	315	315
				480	557
Perry Health, Inc.	Preferred Stock(2)	5/31/2023	184,258	79	79
Petfolk Inc.	Preferred Stock(2)	6/10/2022	169,684	13	29
Wispr AI, Inc.(11)	Preferred Stock(2)	5/31/2022	—	—	—
Total Healthcare Services - 0.31%*				610	882
Healthcare Technology Systems
Calibrate Health, Inc.	Common Stock(2)	10/30/2023	118,190	253	—
Capsule Corporation	Preferred Stock	5/27/2020	45,008	119	8
Curology, Inc.	Preferred Stock(2)	5/27/2020	12,007	19	7
K Health, Inc.	Common Stock	7/14/2023	61,224	187	263
Noho Dental, Inc.	Preferred Stock(2)	11/3/2020	56	228	—
SafelyYou Inc.	Preferred Stock(2)	1/21/2021	69,346	21	187
Total Healthcare Technology Systems - 0.17%*				827	465
Household Products
Grove Collaborative, Inc.	Preferred Stock(2)	5/27/2020	33,038	72	—
Total Household Products - —%*				72	—
Human Capital Services
Eightfold AI Inc.	Preferred Stock(2)	5/27/2020	69,577	186	336
Karat Financial Technologies Incorporated	Preferred Stock(2)	6/18/2021	156,720	91	713
Karat Financial Technologies Incorporated	Preferred Stock(2)	1/11/2023	8,012	18	18
				109	731
WorkStep Inc.	Preferred Stock(2)	5/6/2021	17,244	12	31
Total Human Capital Services - 0.39%*				307	1,098
Information Services (B2C)
Cleo AI Ltd.(1)(3)	Preferred Stock(2)	5/27/2020	41,041	82	66
Infinite Athlete, Inc. (f/k/a Tempus Ex Machina, Inc.)	Preferred Stock	5/1/2023	53,879	38	22
Kasa Living, Inc.	Preferred Stock(2)	4/12/2021	25,832	72	69
Total Information Services (B2C) - 0.06%*				192	157
Information Technology
Etched.ai, Inc.	Preferred Stock(2)	4/19/2024	30,757	250	250
Total Information Technology - 0.09%*				250	250
Infrastructure
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock	5/27/2020	2,775	90	93
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock	8/26/2022	2,439	65	105
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock	9/29/2023	1,951	84	84
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock	4/5/2024	4,476	84	270
Total Infrastructure - 0.20%*				323	552
Life and Health Insurance
Angle Health, Inc.	Preferred Stock(2)	3/18/2022	140,450	29	28
Beam Technologies Inc.	Preferred Stock(2)	5/27/2020	5,344	57	107
Sidecar Health, Inc.	Preferred Stock(2)	8/26/2021	32,620	34	41
Total Life and Health Insurance - 0.06%*				120	176

18

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Logistics
Passport Labs, Inc.	Common Stock(2)	5/27/2020	2,102	51	51
Total Logistics - 0.02%*				51	51
Medical Software and Information Services
HI LLC (Kernel)	Preferred Stock	12/21/2020	49,425	48	—
HI LLC (Kernel)	Common Stock	2/28/2023	175,000	44	2
Total Medical Software and Information Services - —%*				92	2
Multimedia and Design Software
Hover Inc.	Preferred Stock	9/30/2022	45,910	77	90
Hover Inc.	Preferred Stock	9/10/2024	9,182	18	18
				95	108
Spire Animation Studios, Inc.	Preferred Stock	5/12/2021	21,084	80	—
Spire Animation Studios, Inc.	Preferred Stock	9/30/2021	27,559	105	—
				185	—
Total Multimedia and Design Software - 0.04%*				280	108
Network Management Software
Callsign, Inc.(1)(3)	Preferred Stock(2)	5/27/2020	21,604	180	180
Skyflow Inc.	Preferred Stock	6/26/2023	39,890	31	34
Skyflow Inc.	Preferred Stock	9/27/2024	15,956	25	13
				56	47
Total Network Management Software - 0.08%*				236	227
Other Financial Services
Aven Holdings, Inc.(1)	Common Stock(2)	5/16/2023	35,857	361	343
Jerry Services, Inc.	Preferred Stock(2)	6/13/2022	2,235	8	6
N26 GmbH(1)(3)	Preferred Stock(2)	10/15/2021	6	173	130
Relay Commerce, Inc.	Preferred Stock(2)	8/22/2022	123,047	60	95
Relay Commerce, Inc.	Preferred Stock(2)	5/18/2023	12,305	4	9
Relay Commerce, Inc.	Preferred Stock(2)	9/29/2023	24,610	7	19
Relay Commerce, Inc.	Preferred Stock(2)	4/4/2024	36,200	26	26
				97	149
Total Other Financial Services - 0.22%*				639	628
Real Estate Services
Belong Home, Inc.	Preferred Stock(2)	2/15/2022	7,730	6	15
Divvy Homes Inc.	Preferred Stock(2)	10/27/2020	128,289	470	1,124
Firemaps, Inc.	Preferred Stock(2)	5/31/2023	24,539	33	33
Homelight, Inc.	Preferred Stock(2)	7/27/2022	3,988	8	7
Homeward, Inc.	Preferred Stock	12/10/2021	38,302	148	3
McN Investments Ltd.(1)(3)	Preferred Stock(2)	5/27/2022	1,874	15	6
Roofstock, Inc. (f/k/a Mynd Management, Inc.)	Preferred Stock(2)	5/27/2020	26,362	83	107
Roofstock, Inc. (f/k/a Mynd Management, Inc.)	Preferred Stock(2)	5/25/2022	3,279	1	11
Roofstock, Inc. (f/k/a Mynd Management, Inc.)	Preferred Stock(2)	6/29/2023	34,977	11	120
				95	238
Side, Inc.	Preferred Stock(2)	7/29/2020	71,501	57	583
True Footage, Inc.	Preferred Stock	11/24/2021	88,762	122	287
Total Real Estate Services - 0.82%*				954	2,296
Social/Platform Software
ClassPass Inc.	Preferred Stock(2)	5/27/2020	14,085	43	25
Sylva, Inc.	Preferred Stock	7/12/2021	44,872	30	4
Sylva, Inc.	Preferred Stock	12/21/2021	44,872	30	4
				60	8
Total Social/Platform Software - 0.01%*				103	33
Software Development Applications

19

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Appex Group, Inc.	Preferred Stock(2)	11/15/2021	62,115	132		173
Appex Group, Inc.	Preferred Stock(2)	4/14/2022	11,004	36		36
				168		209
Forte Labs, Inc.	Preferred Stock(2)	12/30/2020	318,571	65		223
Total Software Development Applications - 0.15%*				233		432
Total Warrant Investments - 6.52%*				$	15,122	$	18,313

20

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Equity Investments(9)
Application Software
Flo Health, Inc.(1)(3)	Preferred Stock(2)	7/18/2024	8,387	$	500	$	500
Total Application Software - 0.18%*				500		500
Business Applications Software
DialPad, Inc.	Preferred Stock(2)	9/22/2020	9,016	70		62
Filevine, Inc.	Preferred Stock(2)	2/4/2022	22,541	143		195
Flashparking, Inc.	Preferred Stock(2)	7/19/2022	19,870	272		268
Tide Platform Limited(1)(3)	Preferred Stock(2)	8/19/2021	43,338	515		505
Uniphore Technologies, Inc.	Preferred Stock(2)	1/28/2022	8,066	100		82
Total Business Applications Software - 0.40%*				1,100		1,112
Business Products and Services
Certamen Ventures Inc.	Preferred Stock(2)	3/4/2022	97,195	200		136
Cresta Intelligence Inc.	Preferred Stock(2)	9/30/2024	55,441	250		250
Elsker, Inc.	Preferred Stock(2)	7/5/2022	44,444	55		55
MXP Prime Platform GmbH(1)(3)	Common Stock(2)	2/15/2022	83	570		6
MXP Prime Platform GmbH(1)(3)	Preferred Stock(2)	6/29/2023	11	—		65
MXP Prime Platform GmbH(1)(3)	Preferred Stock(2)	6/29/2023	23	25		26
				595		97
Printify, Inc.	Preferred Stock(2)	8/24/2021	13,850	50		50
Quick Commerce Ltd.(1)(3)	Preferred Stock(2)	3/28/2024	31,818	611		537
Quick Commerce Ltd.(1)(3)	Ordinary Shares(2)	3/28/2024	112,770,108	26		135
				637		672
Strata Identity, Inc.	Preferred Stock(2)	6/24/2022	71,633	250		244
Total Business Products and Services - 0.54%*				2,037		1,504
Business/Productivity Software
AI2 Incorporated	Preferred Stock(2)	1/3/2024	280,424	830		830
Total Business/Productivity Software - 0.30%*				830		830
Business to Business Marketplace
Material Technologies Corporation	Preferred Stock(2)	4/23/2021	12,822	261		217
Material Technologies Corporation	Preferred Stock(2)	4/23/2021	9,285	189		157
Material Technologies Corporation	Preferred Stock(2)	4/29/2022	15,050	500		366
Total Business to Business Marketplace - 0.26%*				950		740
Computer Hardware
Quantum Circuits, Inc.	Preferred Stock(2)	4/17/2024	17,612	50		50
Total Computer Hardware - 0.02%*				50		50
Consumer Finance
Activehours, Inc.	Preferred Stock(2)	11/10/2020	9,859	100		151
Total Consumer Finance - 0.05%*				100		151
Consumer Products and Services
Divvy Homes Inc.	Preferred Stock(2)	7/28/2021	4,965	95		95
Divvy Homes Inc.	Common Stock(2)	7/28/2021	261	5		5
				100		100
Ever/Body, Inc.	Preferred Stock(2)	4/5/2022	195,574	350		141
Everdrop GmbH(1)(3)	Preferred Stock(2)	7/5/2022	13	52		56
GrubMarket, Inc.	Common Stock(2)	8/2/2024	—	4,178		4,178
Hydrow, Inc.	Preferred Stock(2)	12/14/2020	42,642	166		6
Hydrow, Inc.	Preferred Stock(2)	3/19/2021	22,881	165		6
				331		12
JOKR S.a.r.l.(1)(3)	Preferred Stock(2)	12/7/2021	5,688	375		252
JOKR S.a.r.l.(1)(3)	Preferred Stock(2)	11/3/2022	1,575	75		70

21

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)	Fair Value
				450	322
Pair Eyewear, Inc.	Preferred Stock(2)	6/27/2023	1,880	10	10
Planet A Foods GmbH(1)(3)	Preferred Stock(2)	3/16/2023	48,598	250	250
TMRW Sports, Inc.	Preferred Stock(2)	11/9/2023	40,174	500	500
Well Dot, Inc.	Preferred Stock(2)	10/16/2020	26,416	250	322
Total Consumer Products and Services - 2.10%*				6,471	5,891
Cultivation
InFarm Technologies Limited(1)(3)	Preferred Stock(2)	12/29/2023	8,750	—	—
Total Cultivation - 0.00%*				—	—
Database Software
ON-0731 Fund II LP(1)	Limited Partnership Interests(2)	8/29/2024	—	250	250
Total Database Software - 0.09%*				250	250
E-Commerce - Personal Goods
Forum Brands, LLC	Preferred Stock(2)	7/16/2021	493	90	25
Merama Inc.	Preferred Stock(2)	4/30/2021	5,433	31	63
Merama Inc.	Preferred Stock(2)	4/19/2021	6,944	13	73
Merama Inc.	Preferred Stock(2)	9/13/2021	3,862	62	60
				106	196
Total E-Commerce - Personal Goods - 0.08%*				196	221
Elder and Disabled Care
Honor Technology, Inc.	Preferred Stock(2)	10/16/2020	82,443	198	228
Honor Technology, Inc.	Preferred Stock(2)	10/1/2021	20,932	66	66
Total Elder and Disabled Care - 0.10%*				264	294
Energy
Arcadia Power, Inc.	Preferred Stock(2)	9/21/2021	16,438	167	105
Kobold Metals Company	Preferred Stock(2)	1/10/2022	25,537	700	941
Total Energy - 0.37%*				867	1,046
Financial Services
Overtime Sports, Inc.	Preferred Stock(2)	8/2/2022	19,148	150	150
Total Financial Services - 0.05%*				150	150
Food Products
Koatji, Inc.(1)(3)	Preferred Stock(2)	2/15/2023	155,164	50	50
Total Food Products - 0.02%*				50	50
General Media and Content
Redesign Health Inc.	Preferred Stock(2)	7/12/2022	5,919	100	100
Total General Media and Content - 0.04%*				100	100
Healthcare Services
Calibrate Health, Inc.	Preferred Stock(2)	7/30/2021	62,252	333	1
Levels Health Inc.	Preferred Stock(2)	6/10/2022	17,953	187	187
Pet Folk Inc.	Preferred Stock(2)	8/24/2022	949,667	200	285
Total Healthcare Services - 0.17%*				720	473
Healthcare Technology Systems
Capsule Corporation	Preferred Stock(2)	4/21/2021	863	13	2
Capsule Corporation	Preferred Stock(2)	12/29/2022	519	2	1
Total Healthcare Technology Systems - —%*				15	3
Information Services (B2C)
Kasa Living, Inc.	Preferred Stock(2)	12/29/2022	22,725	150	150
Total Information Services (B2C) - 0.05%*				150	150
Information Technology

22

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) (unaudited) As of September 30, 2024
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Etched.ai, Inc.	Preferred Stock(2)	4/9/2024	30,757	500		500
Total Information Technology - 0.18%*				500		500
Infrastructure
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock(2)	5/9/2022	1,326	82		133
Omio Corp. (f/k/a GoEuro Corp.)(1)(3)	Preferred Stock(2)	5/13/2022	1,027	79		103
Total Infrastructure - 0.08%*				161		236
Life and Health Insurance
Beam Technologies Inc.	Preferred Stock(2)	1/5/2021	1,901	80		87
Total Life and Health Insurance - 0.03%*				80		87
Multimedia and Design Software
Hover Inc.	Preferred Stock(2)	9/30/2022	10,595	58		66
Total Multimedia and Design Software - 0.02%*				58		66
Network Management Software
Skyflow Inc.	Preferred Stock(2)	1/22/2024	19,945	62		62
Skyflow Inc.	Preferred Stock(2)	9/27/2024	143,604	450		450
Total Network Management Software - 0.18%*				512		512
Other Financial Services
Jerry Services, Inc.	Preferred Stock(2)	4/29/2022	656	8		7
N26 GmbH(1)(3)	Preferred Stock(2)	12/8/2021	12	690		826
Total Other Financial Services - 0.30%*				698		833
Real Estate Services
Belong Home, Inc.	Preferred Stock(2)	4/15/2022	6,033	29		29
Habyt GmbH	Preferred Stock(2)	2/21/2023	400	443		255
McN Investments Ltd.(1)(3)	Preferred Stock(2)	5/6/2022	749	20		14
True Footage, Inc.	Preferred Stock(2)	10/18/2021	18,366	100		122
Total Real Estate Services - 0.15%*				592		420
Software Development Applications
Forte Labs, Inc.	Preferred Stock(2)	5/13/2021	184,679	250		303
Total Software Development Applications - 0.11%*				250		303
Total Equity Investments - 5.86%*				$	17,651	$	16,472
Total Investments in Portfolio Companies - 135.52%*(4)(5)				$	393,790	$	380,841

Cash Equivalents
Money Market Fund	Type of Investment	Ticker	Cost		Fair Value
Federated Government Obligations Fund	Cash Equivalents	PRM	$	57,059	$	57,059
Total Cash Equivalents - 20.30%*			$	57,059	$	57,059

Foreign Currency Forward Contracts - (0.14)%*
Foreign Currency	Settlement Date	Counterparty	Amount		Transaction	US $ Value at Settlement Date		Unrealized Gain/(Loss)
British Pound Sterling (GBP)	10/28/2024	Zions Bancorporation, N.A.	£	6,000	Sold	$	7,718	$	(307)
Euro (EUR)	10/28/2024	Zions Bancorporation, N.A.	€	3,000	Sold	3,258		(86)
						$	10,976	$	(393)

_______________

(1)Investment is a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). As of September 30, 2024, non-qualifying assets represented 13.5% of the Company’s total assets, at fair value.

(2)As of September 30, 2024, this investment was not pledged as collateral as part of the Company’s revolving credit facility.

(3)Entity is not domiciled in the United States and does not have its principal place of business in the United States.

23

(4)The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

(5)All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

(6)Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $10.3 million, $21.1 million and $10.8 million, respectively, for the September 30, 2024 investment portfolio. The tax cost of investments is $395.9 million.

(7)Debt is on non-accrual status as of September 30, 2024 and is therefore considered non-income producing. Non-accrual investments as of September 30, 2024 had a total cost and fair value of $22.7 million and $11.9 million, respectively.

(8)Warrants are associated with funded debt instruments as well as certain commitments to provide future funding against certain unfunded obligations.

(9)Non-income producing investments.

(10)Acquisition date represents the date of the initial investment in the portfolio investment.

(11)Number of shares and/or fair value will be determined based on the occurrence of future events.

*    Value as a percentage of net assets.

24

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal		Cost(6)		Fair Value		Maturity Date
Debt Investments
Aerospace and Defense
Dedrone Holdings, Inc.	Growth Capital Loan (Prime + 4.25% interest rate, 7.50% floor, 5.50% EOT payment)	3/31/2021	$	476	$	737	$	737	3/31/2024
Loft Orbital Solutions, Inc.	Growth Capital Loan (Prime 6.75% interest rate, 10.00% floor, 5.00% EOT payment)(2)	11/21/2023	1,000		973		973		11/30/2027
Loft Orbital Solutions, Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 5.00% EOT payment)(2)	12/27/2023	1,000		971		971		12/31/2027
Loft Orbital Solutions, Inc.	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 5.00% EOT payment)(2)	12/27/2023	1,000		971		971		12/31/2027
			3,000		2,915		2,915
Total Aerospace and Defense - 1.26%*			3,476		3,652		3,652
Application Software
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	5/17/2022	667		662		662		5/31/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	7/21/2022	700		692		692		7/31/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	9/30/2022	460		453		453		9/30/2025
Flo Health UK Limited(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	2/6/2023	173		174		174		2/28/2025
			2,000		1,981		1,981
Parsable, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 13.50% floor, 4.00% EOT payment)(2)	10/24/2023	3,333		3,272		3,272		4/1/2027
Total Application Software - 1.81%*			5,333		5,253		5,253
Business Applications Software
Blueboard Inc.	Growth Capital Loan (Prime + 4.75% interest rate, 8.75% floor, 2.50% EOT payment)	9/30/2022	3,000		3,024		3,024		9/30/2024
Blueboard Inc.	Growth Capital Loan (Prime + 4.75% interest rate, 8.75% floor, 2.50% EOT payment)(2)	12/29/2022	1,000		1,000		1,000		12/31/2024
			4,000		4,024		4,024
FlashParking, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 7.00% EOT payment)	6/15/2021	10,000		10,468		10,489		6/30/2024
FlashParking, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 4.50% EOT payment)	1/21/2022	347		360		361		7/31/2024
FlashParking, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 4.50% EOT payment)	12/28/2023	1,209		1,210		1,213		7/31/2024
			11,556		12,038		12,063
Morty, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 10.00% EOT payment)(2)	12/21/2022	7,000		7,098		6,873		6/30/2026
Tide Platform Limited(1)(3)	Growth Capital Loan (10.00% interest rate, 6.50% EOT payment)	11/13/2020	1,863		2,128		2,029		12/31/2024
Tide Platform Limited(1)(3)	Revolver (10.25% interest rate, 4.00% EOT payment)	2/22/2021	1,768		1,830		1,642		4/30/2024
			3,631		3,958		3,671
Uniphore Technologies, Inc.	Growth Capital Loan (11.00% interest rate, 4.00% EOT payment)	12/22/2021	1,028		1,095		1,093		6/30/2024
Uniphore Technologies, Inc.	Growth Capital Loan (11.00% interest rate, 4.00% EOT payment)	12/22/2021	1,028		1,095		1,093		6/30/2024
			2,056		2,190		2,186
Total Business Applications Software - 9.92%*			28,243		29,308		28,817
Business Products and Services
Alloy Technologies, Inc.	Growth Capital Loan (Prime + 6.25% interest rate, 11.00% floor, 6.00% EOT payment)	9/9/2022	2,000		2,042		2,042		9/30/2024
Cardless Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 6.50% floor, 2.00% EOT payment)	11/18/2021	1,199		1,224		1,224		11/30/2024
Cardless Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 5.75% EOT payment)	11/18/2021	4,200		4,404		4,404		5/31/2024
			5,399		5,628		5,628
Certamen Ventures Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 15.00% floor, 4.00% EOT payment)	11/30/2021	6,945		6,868		6,868		11/30/2026
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)(2)	2/15/2022	1,655		1,734		1,734		8/31/2025

25

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)(2)	4/25/2022	1,695	1,756	1,756	10/31/2025
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)(2)	8/1/2022	705	721	721	1/31/2026
Path Robotics, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.25% floor, 8.75% EOT payment)(2)	10/7/2022	2,526	2,562	2,562	4/30/2026
			6,581	6,773	6,773
Phantom Auto Inc.	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 6.00% EOT payment)	7/14/2021	1,926	2,210	2,210	7/31/2024
Quick Commerce Ltd.(1)(3)	Growth Capital Loan (Prime + 7.50% interest rate, 10.75% floor, 7.50% EOT payment)(2)	5/4/2022	1,500	1,523	1,451	5/31/2025
Quick Commerce Ltd.(1)(3)	Growth Capital Loan (Prime + 7.50% interest rate, 10.75% floor, 7.50% EOT payment)(2)	10/19/2023	250	242	231	5/31/2025
			1,750	1,765	1,682
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 9.00% floor, 5.75% EOT payment)(2)	10/28/2021	2,422	2,469	918	2/29/2024
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 13.50% floor, 5.75% EOT payment)(2)	5/12/2023	42	42	16	2/29/2024
Rally Network, Inc.(7)	Revolver (Prime + 5.75% PIK interest rate, 14.25% floor, 5.75% EOT payment)(2)	12/22/2023	25	25	9	2/29/2024
			2,489	2,536	943
RenoRun, Inc.(1)(3)(7)	Growth Capital Loan (Prime + 10.50% interest rate, 13.75% floor, 8.25% EOT payment)	12/30/2021	37	32	96	12/31/2025
Worldwide Freight Logistics Limited(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.00% EOT payment)(2)	6/15/2022	377	386	407	6/30/2025
Worldwide Freight Logistics Limited(1)(3)	Revolver (Prime + 4.75% interest rate, 8.00% floor, 3.00% EOT payment)(2)	6/15/2022	482	485	513	12/31/2024
Worldwide Freight Logistics Limited(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.00% EOT payment)(2)	10/20/2023	244	245	256	10/31/2026
			1,103	1,116	1,176
Vecna Robotics, Inc.	Growth Capital Loan (Prime + 3.25% interest rate, 10.75% floor, 9.00% EOT payment)(2)	12/16/2022	4,500	4,376	4,376	9/30/2026
Total Business Products and Services - 10.94%*			32,730	33,346	31,794
Business/Productivity Software
Construction Finance Corporation	Revolver (Prime + 5.25% interest rate, 13.75% floor, 1.50% EOT payment)(2)	12/29/2023	4,428	4,350	4,350	6/29/2024
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)	5/23/2023	5,200	5,164	5,164	11/30/2026
FireHydrant, Inc.	Growth Capital Loan (Prime + 4.00% interest rate, 12.25% floor, 7.25% EOT payment)(2)	8/21/2023	1,600	1,577	1,577	2/28/2027
			6,800	6,741	6,741
Highbeam, Inc.	Revolver (Prime + 4.25% interest rate, 12.00% floor)(2)	2/10/2023	2,688	2,665	2,665	8/10/2024
Idelic Inc.	Growth Capital Loan (Prime + 8.25% interest rate, 11.50% floor, 9.50% EOT payment)(2)	9/14/2022	4,000	4,080	4,080	3/31/2026
Idelic Inc.	Growth Capital Loan (Prime + 2.50% interest rate, 10.00% floor, 2.50% EOT payment)(2)	11/15/2023	2,800	2,775	2,775	8/31/2026
			6,800	6,855	6,855
Manufactured Networks, Inc.	Revolver (Prime + 5.75% interest rate, 14.25% floor)(2)	9/13/2023	5,000	4,962	4,982	12/13/2024
Metropolis Technologies, Inc.	Growth Capital Loan (Prime + 4.85% cash interest rate + 4.66% PIK, 11.75% floor, 7.00% EOT payment)(2)	3/30/2022	1,131	1,144	1,153	3/31/2027
OnSiteIQ, Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.75% floor, 6.75% EOT payment)	6/16/2023	2,416	2,417	2,417	5/31/2026
Virtual Facility, Inc.	Growth Capital Loan (Prime + 2.50% interest rate, 10.50% floor, 8.50% EOT payment)(2)	12/1/2023	1,000	976	976	6/1/2027
Total Business/Productivity Software - 10.37%*			30,263	30,110	30,139
Computer Hardware
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	3,179	3,125	3,015	2/28/2026
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	2,649	2,604	2,513	2/28/2026
Canvas Construction Inc.	Growth Capital Loan (Prime + 8.75% PIK interest rate, 12.00% floor, 5.00% EOT payment)(2)	8/4/2022	1,060	1,042	1,006	2/28/2026
			6,888	6,771	6,534
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.00% EOT payment)(2)	10/17/2022	110	110	110	10/31/2026

26

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.00% EOT payment)(2)	1/27/2023	300	297	297	1/31/2027
Quantum Circuits, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 6.50% EOT payment)(2)	5/11/2023	1,000	1,000	1,000	11/30/2025
			1,410	1,407	1,407
Total Computer Hardware - 2.73%*			8,298	8,178	7,941
Consumer Finance
Activehours, Inc.	Revolver (Prime + 4.25% interest rate, 8.50% floor)(2)	12/30/2022	—	—	—	12/30/2025
Total Consumer Finance - —%*			—	—	—
Consumer Non-Durables
Don't Run Out, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)(2)	12/30/2021	1,000	1,038	1,038	6/30/2025
Don't Run Out, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 10.50% floor, 9.00% EOT payment)(2)	10/31/2022	927	959	959	10/31/2025
			1,927	1,997	1,997
Trueskin GmbH(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 8.25% EOT payment)(2)	1/9/2023	1,077	1,093	1,120	1/31/2026
Underground Enterprises, Inc.(7)	Growth Capital Loan (Prime + 3.00% interest rate, 6.50% floor, 1.00% EOT payment)(2)	5/18/2022	372	371	57	11/30/2024
Underground Enterprises, Inc.(7)	Growth Capital Loan (Prime + 3.75% interest rate, 7.25% floor, 5.50% EOT payment)(2)	6/9/2022	248	251	38	3/31/2025
Underground Enterprises, Inc.(7)	Growth Capital Loan (Prime + 3.75% interest rate, 7.25% floor, 5.50% EOT payment)(2)	8/5/2022	371	374	57	5/31/2025
			991	996	152
Total Consumer Non-Durables - 1.13%*			3,995	4,086	3,269
Consumer Products and Services
Baby Generation, Inc.	Growth Capital Loan (Prime + 7.50% interest rate, 10.75% floor, 8.00% EOT payment)	1/26/2022	750	781	784	1/31/2025
Baby Generation, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 7.50% EOT payment)(2)	12/19/2022	250	257	258	12/31/2024
Baby Generation, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 7.50% EOT payment)(2)	3/30/2023	875	886	890	3/31/2025
			1,875	1,924	1,932
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (9.00% interest rate, 2.00% EOT payment)(2)	10/13/2022	2,520	2,523	2,825	4/30/2026
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (10.50% interest rate, 2.00% EOT payment)(2)	10/13/2022	1,512	1,513	1,694	4/30/2026
Bloom and Wild Midco 2 Limited(1)(3)	Growth Capital Loan (10.50% interest rate, 2.00% EOT payment)(2)	10/13/2022	1,642	1,644	1,836	4/30/2026
			5,674	5,680	6,355
Dance GmbH(1)(3)(7)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.25% EOT payment)(2)	4/14/2022	723	724	401	4/30/2025
Dance GmbH(1)(3)(7)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.25% EOT payment)(2)	7/14/2022	268	266	154	7/31/2025
Dance GmbH(1)(3)(7)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.25% EOT payment)(2)	11/14/2022	69	67	37	11/30/2025
Dance GmbH(1)(3)(7)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.25% EOT payment)(2)	3/15/2023	529	502	262	3/31/2026
			1,589	1,559	854
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 5.25% EOT payment)(2)	6/27/2022	322	325	108	3/31/2025
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 5.25% EOT payment)(2)	8/12/2022	107	108	36	5/31/2025
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 5.25% EOT payment)(2)	12/9/2022	215	213	72	9/30/2025
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 5.25% EOT payment)(2)	3/1/2023	322	318	108	11/30/2025
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 13.25% floor, 5.25% EOT payment)(2)	10/5/2023	11	11	3	10/31/2023
Ephemeral Solutions, Inc.(7)	Growth Capital Loan (Prime + 6.50% interest rate, 15.00% floor, 5.25% EOT payment)(2)	12/11/2023	18	18	6	12/31/2023
			995	993	333
Ever/Body, Inc.	Growth Capital Loan (Prime + 3.75% interest rate, 7.00% floor, 2.00% EOT payment)	9/7/2021	302	314	313	9/30/2024

27

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)(2)	12/20/2022	4,800	4,864	4,809	6/30/2025
Ever/Body, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 8.25% floor, 7.75% EOT payment)(2)	12/20/2022	2,250	2,277	2,251	6/30/2025
			7,352	7,455	7,373
Flink SE(1)(3)	Growth Capital Loan (9.75% interest rate, 6.75% EOT payment)(2)	7/5/2022	1,250	1,274	1,034	7/31/2025
Flink SE(1)(3)	Growth Capital Loan (9.75% interest rate, 6.75% EOT payment)(2)	10/21/2022	1,250	1,263	977	10/31/2025
			2,500	2,537	2,011
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.50% EOT payment)(2)	4/8/2022	22	23	23	4/30/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 5.75% interest rate, 9.00% floor, 5.50% EOT payment)(2)	5/16/2022	56	58	58	5/31/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 6.00% EOT payment)(2)	5/24/2022	369	383	383	5/31/2025
Foodology Inc.(1)(3)	Growth Capital Loan (Prime + 6.75% interest rate, 10.00% floor, 6.50% EOT payment)(2)	4/28/2023	372	369	369	4/30/2026
			819	833	833
Good Eggs, Inc.	Growth Capital Loan (Prime + 0.50% interest rate, 8.00% floor, 7.75% EOT payment)	8/12/2021	3,532	3,691	3,605	8/31/2025
Good Eggs, Inc.	Growth Capital Loan (Prime + 0.50% interest rate, 8.00% floor, 6.00% EOT payment)(2)	5/26/2022	3,000	3,066	3,004	5/31/2025
			6,532	6,757	6,609
Hydrow, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)	2/9/2021	1,650	1,757	1,705	12/31/2024
Hydrow, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 10.00% EOT payment)	2/9/2021	3,300	3,491	3,388	12/31/2024
Hydrow, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 10.00% EOT payment)	8/10/2021	5,025	5,300	5,118	2/28/2025
Hydrow, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 10.25% floor, 10.00% EOT payment)	8/31/2021	5,025	5,297	5,116	2/28/2025
			15,000	15,845	15,327
JOKR S.a.r.l.(1)(3)	Revolver (Prime + 5.75% interest rate, 9.00% floor, 3.00% EOT payment)(2)	10/14/2021	1,252	1,303	1,290	7/31/2024
JOKR S.a.r.l.(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 6.00% EOT payment)	11/3/2021	4,817	4,830	4,741	11/30/2025
JOKR S.a.r.l.(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 6.00% EOT payment)(2)	8/17/2022	1,000	1,005	990	8/31/2026
			7,069	7,138	7,021
Lower Holding Company	Growth Capital Loan (Prime + 3.75% interest rate, 11.25% floor, 5.00% EOT payment)(2)	12/28/2022	2,000	2,012	1,968	12/31/2025
MA Micro Limited(1)(3)	Growth Capital Loan(2)(9)	12/31/2023	1,666	577	577	12/31/2026
MA Micro Limited(1)(3)	Convertible Note(2)(9)	12/31/2023	1,666	1,085	1,085	12/31/2028
MA Micro Limited(1)(3)	Growth Capital Loan(2)(9)	12/31/2023	555	474	474	12/31/2028
			3,887	2,136	2,136
Nakdcom One World AB(1)(3)	Growth Capital Loan (Prime + 8.25% PIK interest rate, 11.50% floor, 10.00% EOT payment)(2)	6/6/2022	560	490	461	12/31/2026
Nakdcom One World AB(1)(3)	Growth Capital Loan (Prime + 8.25% PIK interest rate, 11.50% floor, 10.00% EOT payment)(2)	8/29/2022	314	273	275	12/31/2026
			874	763	736
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	6/30/2022	588	584	584	6/30/2026
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	12/30/2022	207	203	203	12/31/2026
Planet A Foods GmbH(1)(3)	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.00% EOT payment)(2)	2/28/2023	172	168	168	2/28/2027
			967	955	955
Project 1920, Inc.(7)	Revolver (Prime + 5.75% interest rate, 9.00% floor, 2.00% EOT payment)(2)	3/25/2022	350	357	196	3/25/2023
Spinn, Inc.(7)	Growth Capital Loan (Prime + 4.75% interest rate, 8.00% floor, 4.50% EOT payment)(2)	2/24/2022	794	819	500	8/31/2024
Total Consumer Products and Services - 18.98%*			58,277	57,763	55,139
Cultivation
May Acquisitions Limited1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	3,887	1,221	1,204	10/31/2028

28

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
May Acquisitions Limited1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	15	15	5	10/31/2028
May Acquisitions Limited1)(3)(7)	Growth Capital Loan (6.00% interest rate)(2)	12/29/2023	349	109	108	10/31/2028
Total Cultivation - 0.45%*			4,251	1,345	1,317
E-Commerce - Clothing and Accessories
FabFitFun, Inc.	Growth Capital Loan (Prime + 7.00% interest rate, 12.00% floor, 6.50% EOT payment)	9/29/2021	8,750	8,552	8,552	11/30/2027
Minted, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.50% floor, 6.00% EOT payment)	6/15/2022	10,000	10,154	10,154	6/30/2027
TFG Holding, Inc.(7)	Growth Capital Loan (Prime + 8.75% interest rate, 12.00% floor, 7.50% EOT payment)	12/4/2020	4,433	4,714	4,300	12/31/2023
TFG Holding, Inc.(7)	Growth Capital Loan (Prime + 8.75% interest rate, 12.00% floor, 7.50% EOT payment)	12/21/2021	2,955	3,006	2,887	12/31/2024
TFG Holding, Inc.(7)	Growth Capital Loan (Prime + 7.25% interest rate, 10.50% floor, 7.00% EOT payment)	3/31/2022	986	1,000	958	9/30/2025
			8,374	8,720	8,145
Trendly, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.50% EOT payment)	5/27/2021	6,500	6,824	6,824	11/30/2024
Trendly, Inc.	Growth Capital Loan (Prime + 7.75% interest rate, 11.00% floor, 8.50% EOT payment)(2)	6/7/2022	1,000	1,018	1,018	12/31/2025
			7,500	7,842	7,842
Total E-Commerce - Clothing and Accessories - 11.94%*			34,624	35,268	34,693
E-Commerce - Personal Goods
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	7/6/2021	1,669	1,669	1,649	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	7/21/2021	263	272	269	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	8/10/2021	315	326	322	8/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	10/6/2021	1,458	1,505	1,484	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	11/2/2021	947	975	960	11/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	11/2/2021	2,540	2,615	2,576	11/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	848	870	860	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	324	332	329	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)	12/28/2021	57	58	58	6/30/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	1/28/2022	1,836	1,877	1,854	7/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	4/14/2022	700	709	699	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	4/14/2022	263	267	263	10/31/2025
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	9/21/2022	1,710	1,705	1,676	3/31/2026
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	11/1/2022	3,078	3,057	3,005	4/30/2026
Forum Brands, LLC	Growth Capital Loan (12.00% interest rate, 6.00% EOT payment)(2)	12/22/2022	184	182	178	6/30/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	11/1/2023	180	173	173	10/31/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	11/13/2023	1,369	1,315	1,315	11/30/2026
Forum Brands, LLC	Growth Capital Loan (Prime + 5.25% interest rate, 11.50% floor, 5.00% EOT payment)(2)	12/28/2023	104	100	100	12/31/2026
Forum Brands, LLC	Growth Capital Loan(9)	6/16/2021	2,179	2,179	1,573	12/31/2026
			20,024	20,186	19,343
Merama Inc.	Growth Capital Loan (10.00% interest rate, 7.50% EOT payment)	5/17/2021	1,563	1,649	1,640	6/30/2024
Merama Inc.	Growth Capital Loan (10.00% interest rate, 7.50% EOT payment)	6/30/2021	732	771	766	6/30/2024

29

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Merama Inc.	Growth Capital Loan (10.00% interest rate, 7.50% EOT payment)	8/4/2021	1,561	1,636	1,624	8/31/2024
Merama Inc.	Growth Capital Loan (10.00% interest rate, 7.50% EOT payment)	2/17/2023	3,635	3,634	3,575	8/31/2025
			7,491	7,690	7,605
Total E-Commerce - Personal Goods - 9.28%*			27,515	27,876	26,948
Energy
Arcadia Power, Inc.	Growth Capital Loan (9.75% interest rate, 7.00% EOT payment)(2)	5/6/2022	5,000	5,098	4,994	11/30/2026
Arcadia Power, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	6/29/2022	5,000	5,034	4,946	12/31/2026
Arcadia Power, Inc.	Growth Capital Loan (8.75% interest rate, 3.25% EOT payment)	12/16/2021	2,610	2,729	2,709	12/31/2024
Total Energy - 4.35%*			12,610	12,861	12,649
Entertainment Software
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 6.25% PIK interest rate, 13.75% floor, 4.50% EOT payment)(2)	4/20/2022	1,000	1,002	987	4/30/2025
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 5.75% PIK interest rate, 14.25% floor, 4.50% EOT payment)(2)	7/28/2023	75	75	73	7/1/2026
Encore Music Technologies, Inc.(7)	Growth Capital Loan (Prime + 5.75% PIK interest rate, 14.25% floor, 4.50% EOT payment)(2)	11/20/2023	50	50	50	7/1/2026
			1,125	1,127	1,110
FRVR Limited(1)(3)	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 6.00% EOT payment)(2)	5/17/2022	2,851	2,880	2,872	5/31/2025
Total Entertainment Software - 1.37%*			3,976	4,007	3,982
Financial Software
Parker Group Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 6.75% floor)	4/6/2022	151	150	150	10/31/2024
Parker Group Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 8.50% floor, 8.25% EOT payment)	4/6/2022	629	661	661	4/30/2025
			780	811	811
Wisetack, Inc.(1)	Growth Capital Loan (Prime + 4.75% interest rate, 10.25% floor, 6.75% EOT payment)	4/3/2023	5,000	4,960	4,960	10/31/2026
Total Financial Software - 1.99%*			5,780	5,771	5,771
Food Products
AllPlants Ltd(1)(3)	Revolver (Prime + 2.50% interest rate, 9.50% floor, 5.00% EOT payment)(2)	5/24/2021	1,291	1,338	1,213	4/30/2024
AllPlants Ltd(1)(3)	Growth Capital Loan (10.00% interest rate, 7.00% EOT payment)(2)	7/22/2021	173	185	169	7/31/2025
AllPlants Ltd(1)(3)	Growth Capital Loan (Prime + 5.50% interest rate, 11.00% floor, 8.00% EOT payment)(2)	9/1/2022	901	925	1,017	8/31/2026
Total Food Products - 0.83%*			2,365	2,448	2,399
Healthcare Services
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	1/18/2023	213	210	210	1/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	5/19/2023	176	174	174	5/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	5/19/2023	177	174	174	5/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	8/16/2023	247	242	242	8/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor)(2)	10/6/2023	187	184	184	10/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	10/6/2023	39	38	38	10/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	12/12/2023	147	144	144	12/31/2027
Petfolk, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 3.00% EOT payment)(2)	12/12/2023	150	147	147	12/31/2027
			1,336	1,313	1,313

30

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Openloop Health Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.25% floor, 7.50% EOT payment)(2)	6/22/2023	2,000	1,958	1,958	6/30/2026
Openloop Health Inc.	Revolver (Prime + 1.50% interest rate, 9.25% floor, 3.25% EOT payment)(2)	6/22/2023	2,000	2,002	2,002	6/16/2024
Openloop Health Inc.	Growth Capital Loan (Prime + 3.50% interest rate, 11.25% floor, 7.50% EOT payment)(2)	11/20/2023	3,000	2,865	2,865	11/30/2026
			7,000	6,825	6,825
Total Healthcare Services - 2.80%*			8,336	8,138	8,138
Healthcare Technology Systems
Capsule Corporation	Growth Capital Loan (Prime + 7.75% interest rate, 13.00% floor, 13.00% EOT payment)	12/30/2020	5,000	5,425	5,343	12/31/2024
K Health, Inc.	Growth Capital Loan (Prime + 2.25% interest rate, 10.00% floor, 4.75% EOT payment	7/14/2023	5,000	4,843	4,843	7/31/2026
Thirty Madison, Inc.	Growth Capital Loan (Prime + 4.75% PIK interest rate, 11.00% floor, 6.00% EOT payment)(2)	6/12/2023	8,614	8,707	8,707	6/12/2027
Thirty Madison, Inc.	Growth Capital Loan (Prime + 4.75% PIK interest rate, 11.00% floor, 6.00% EOT payment)(2)	6/14/2023	648	637	637	6/12/2027
			9,262	9,344	9,344
Total Healthcare Technology Systems - 6.72%*			19,262	19,612	19,530
Human Capital Services
Karat Financial Technologies Incorporated	Revolver (Prime + 3.75% interest rate, 10.00% floor, 2.85% EOT payment)(2)	1/11/2023	3,000	3,003	3,003	1/11/2025
Karat Financial Technologies Incorporated	Revolver (Prime + 3.75% interest rate, 10.00% floor, 2.85% EOT payment)(2)	9/22/2023	281	279	279	1/11/2025
Total Human Capital Services - 1.13%*			3,281	3,282	3,282
Information Services (B2C)
Tempus Ex Machina, Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 10.50% floor, 5.25% EOT payment)(2)	5/4/2023	2,000	2,003	2,003	2/28/2027
Tempus Ex Machina, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 11.25% floor, 5.50% EOT payment)(2)	5/4/2023	7,000	6,980	6,980	5/31/2027
Total Information Services (B2C) - 3.09%*			9,000	8,983	8,983
Infrastructure
GoEuro Corp.(1)(3)	Growth Capital Loan (12.00% interest rate, 10.50% EOT payment)	5/27/2020	5,000	5,207	5,257	1/31/2027
GoEuro Corp.(1)(3)	Growth Capital Loan (12.00% interest rate, 10.50% EOT payment)	5/27/2020	2,500	2,603	2,629	1/31/2027
Total Infrastructure - 2.71%*			7,500	7,810	7,886
Life and Health Insurance
Angle Health, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.25% floor, 8.00% EOT payment)(2)	12/30/2022	500	495	495	12/31/2025
Angle Health, Inc.	Growth Capital Loan (Prime + 8.00% interest rate, 11.25% floor, 8.00% EOT payment)(2)	3/24/2023	500	491	491	3/31/2026
			1,000	986	986
Sidecar Health, Inc.	Growth Capital Loan (Prime + 7.25% interest rate, 10.50% floor, 8.00% EOT payment)	8/26/2021	8,000	8,343	8,343	2/28/2025
Total Life and Health Insurance - 3.21%*			9,000	9,329	9,329
Medical Software and Information Services
HI LLC (Kernel)	Growth Capital Loan (1.50% cash interest rate + 6.50% PIK, 15.50% floor, 8.50% EOT payment)	7/1/2021	2,373	2,482	2,432	7/31/2025
Total Medical Software and Information Services - 0.84%*			2,373	2,482	2,432
Multimedia and Design Software
Hover Inc.	Growth Capital Loan (Prime + 4.75% interest rate, 9.50% floor, 5.50% EOT payment)	9/30/2022	5,000	4,988	4,988	3/31/2027
Spire Animation Studios, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor, 6.87% EOT payment)	8/12/2021	782	874	860	2/29/2024
Spire Animation Studios, Inc.(7)	Growth Capital Loan (Prime + 6.50% PIK interest rate, 15.00% floor,, 7.13% EOT payment)	9/30/2021	534	576	568	3/31/2024
			1,316	1,450	1,428
Total Multimedia and Design Software - 2.21%*			6,316	6,438	6,416

31

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal	Cost(6)	Fair Value	Maturity Date
Network Management Software
Skyflow Inc.	Growth Capital Loan (Prime + 1.75% interest rate, 9.75% floor, 4.50% EOT payment)	10/2/2023	4,545	4,497	4,497	10/1/2026
Skyflow Inc.	Growth Capital Loan (Prime + 5.00% interest rate, 13.00% floor, 4.50% EOT payment)	10/2/2023	455	450	450	10/1/2026
Total Network Management Software - 1.70%*			5,000	4,947	4,947
Other Financial Services
Jerry Services, Inc.	Growth Capital Loan (10.00% interest rate, 8.25% EOT payment)(2)	6/13/2022	500	512	501	9/30/2025
Jerry Services, Inc.	Growth Capital Loan (13.75% interest rate, 8.25% EOT payment)(2)	3/17/2023	500	501	498	6/30/2026
			1,000	1,013	999
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 10.50% floor, 5.00% EOT payment)(2)	8/23/2022	3,075	3,110	3,110	8/31/2025
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 10.50% floor, 5.00% EOT payment)(2)	10/5/2022	1,463	1,472	1,472	10/31/2025
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 10.50% floor, 5.00% EOT payment(2)	5/1/2023	450	446	446	4/30/2026
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 13.75% floor, 5.00% EOT payment(2)	7/31/2023	500	494	494	7/31/2026
Relay Commerce, Inc.	Growth Capital Loan (Prime + 5.75% interest rate, 14.25% floor, 5.00% EOT payment(2)	12/20/2023	750	734	734	12/31/2026
			6,238	6,256	6,256
Total Other Financial Services - 2.50%*			7,238	7,269	7,255
Real Estate Services
Common Living Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 9.25% EOT payment)	4/30/2021	2,500	2,659	2,462	9/30/2025
Common Living Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 7.25% EOT payment)	3/18/2022	4,742	4,948	4,584	9/30/2025
			7,242	7,607	7,046
Homelight, Inc.	Growth Capital Loan (17.25% interest rate)(2)	12/30/2022	500	494	490	12/31/2026
Homelight, Inc.	Growth Capital Loan (18.00% interest rate)(2)	5/22/2023	250	246	244	5/31/2027
			750	740	734
Homeward, Inc.	Growth Capital Loan (Prime + 6.50% interest rate, 9.75% floor, 9.75% EOT payment)	12/30/2021	4,000	4,163	4,016	6/30/2026
Homeward, Inc.	Growth Capital Loan (Prime + 6.25% interest rate, 9.50% floor, 2.25% EOT payment)(2)	12/30/2022	4,000	4,007	3,971	12/31/2024
			8,000	8,170	7,987
Mynd Management, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.50% floor, 6.00% EOT payment)(2)	5/25/2022	1,000	1,031	1,031	5/31/2025
Mynd Management, Inc.	Growth Capital Loan (Prime + 6.00% interest rate, 9.50% floor, 6.00% EOT payment)(2)	12/27/2022	1,000	1,007	1,007	12/31/2025
Mynd Management, Inc.	Growth Capital Loan (Prime + 5.25% interest rate, 13.50% floor, 4.00% EOT payment)	6/29/2023	8,000	7,978	7,978	12/31/2025
			10,000	10,016	10,016
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/3/2021	250	258	256	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/3/2021	800	822	813	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/3/2021	220	227	225	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	12/13/2021	105	109	108	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/13/2021	440	455	450	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	12/15/2021	208	215	213	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	12/15/2021	150	156	154	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/15/2021	1,372	1,409	1,395	12/31/2024
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)	12/21/2021	760	780	772	12/31/2024

32

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Investment	Acquisition Date(10)	Outstanding Principal		Cost(6)		Fair Value		Maturity Date
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	1/31/2022	170		175		173		1/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)	2/25/2022	116		119		118		2/28/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)	3/15/2022	300		307		304		3/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	4/22/2022	1,110		1,134		1,119		4/30/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	4/22/2022	991		1,012		999		4/30/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)(2)	5/23/2022	216		221		218		5/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	7/19/2022	200		202		199		7/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	7/19/2022	100		101		100		7/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	12/5/2022	150		150		147		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	12/5/2022	361		362		355		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	12/5/2022	565		565		554		12/31/2025
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 6.00% EOT payment)(2)	5/23/2023	240		238		232		5/31/2026
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 7.00% EOT payment)(2)	5/23/2023	434		430		421		5/31/2026
True Footage, Inc.	Growth Capital Loan (11.00% interest rate, 8.00% EOT payment)(2)	5/23/2023	720		715		699		5/31/2026
			9,978		10,162		10,024
Total Real Estate Services - 12.32%*			35,970		36,695		35,807
Social/Platform Software
Sylva, Inc.	Growth Capital Loan (Prime + 3.25% PIK interest rate, 6.50% floor, 1.00% EOT payment)	11/30/2021	885		900		896		5/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% PIK interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	962		988		980		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% PIK interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,294		1,329		1,318		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% PIK interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,553		1,595		1,582		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% PIK interest rate, 8.75% floor, 3.50% EOT payment)	12/21/2021	1,553		1,595		1,582		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 5.50% PIK interest rate, 8.75% floor, 3.50% EOT payment)	12/27/2021	777		797		791		12/31/2024
Sylva, Inc.	Growth Capital Loan (Prime + 9.00% PIK interest rate, 17.50% floor, 4.00% EOT payment(2)	12/18/2023	108		109		108		3/1/2024
Total Social/Platform Software - 2.50%*			7,132		7,313		7,257
Total Debt Investments - 129.08%*			$	382,144	$	383,570	$	375,025

33

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Warrant Investments(8)(9)
Aerospace and Defense
Astranis Space Technologies Corp.	Preferred Stock(2)	5/27/2020	70,959	$	95	$	578
Dedrone Holdings, Inc.	Preferred Stock	3/2/2021	71,018	92		197
LeoLabs, Inc.	Preferred Stock(2)	1/20/2022	72,837	66		76
Loft Orbital Solutions Inc.	Common Stock(2)	7/15/2022	6,747	58		20
Total Aerospace and Defense - 0.30%*				311		871
Application Software
Flo Health UK Limited(1)(3)	Preferred Stock(2)	5/10/2022	1,163	10		14
Parsable, Inc.	Preferred Stock(2)	8/29/2023	165,100	61		23
Total Application Software - 0.01%*				71		37
Business Applications Software
Blueboard Inc.	Common Stock	3/11/2021	209,302	42		25
Dialpad, Inc.	Preferred Stock(2)	8/3/2020	14,490	51		12
Filevine, Inc.	Preferred Stock(2)	4/20/2021	74,462	15		101
FlashParking, Inc.	Preferred Stock	6/15/2021	93,767	360		576
FlashParking, Inc.	Preferred Stock	9/30/2021	23,442	90		144
				450		720
Morty, Inc.	Preferred Stock	10/1/2021	88,980	66		4
Narvar, Inc.	Preferred Stock(2)	8/28/2020	43,580	102		51
Tide Holdings Limited(1)(3)	Preferred Stock	11/13/2020	52,609	45		151
Uniphore Technologies, Inc.	Common Stock	12/22/2021	10,000	10		29
Total Business Applications Software - 0.38%*				781		1,093
Business Products and Services
Alloy Technologies, Inc.	Preferred Stock	9/9/2022	40,748	50		32
Cardless Inc.	Common Stock	11/18/2021	12,903	28		7
Cart.com, Inc.	Common Stock(2)	12/30/2021	8,183	119		160
Cart.com, Inc.	Preferred Stock(2)	3/31/2022	907	6		10
				125		170
Certamen Ventures Inc.	Preferred Stock	10/7/2021	90,266	42		32
Certamen Ventures Inc.	Preferred Stock	12/1/2022	229,881	85		53
Certamen Ventures Inc.	Preferred Stock	12/15/2023	538,703	205		205
				332		290
Elsker, Inc.	Preferred Stock(2)	9/1/2021	35,492	18		16
Path Robotics, Inc.	Common Stock(2)	12/17/2021	40,579	130		42
Phantom Auto Inc.	Preferred Stock	7/12/2021	141,409	315		205
Phantom Auto Inc.	Preferred Stock	7/12/2021	31,698	35		23
Phantom Auto Inc.	Preferred Stock	7/12/2021	22,188	24		16
				374		244
Quick Commerce Ltd.(1)(3)	Preferred Stock(2)	5/4/2022	108,238	26		9
RedFish Labs, Inc.	Preferred Stock(2)	11/23/2021	53,862	122		140
SubStack, Inc.	Preferred Stock(2)	7/13/2022	1,141	6		6
Vecna Robotics, Inc.	Common Stock	12/16/2022	51,590	308		166
Worldwide Freight Logistics Limited(1)(3)	Preferred Stock(2)	6/15/2022	1,502	25		27
Worldwide Freight Logistics Limited(1)(3)	Preferred Stock(2)	5/30/2023	542	9		10
				34		37
Total Business Products and Services - 0.40%*				1,553		1,159
Business to Business Marketplace
Material Technologies Corporation	Preferred Stock(2)	8/24/2020	23,576	156		140
Total Business to Business Marketplace - 0.05%*				156		140
Business/Productivity Software
Construction Finance Corporation	Preferred Stock(2)	7/8/2022	38,060	14		14
Construction Finance Corporation	Preferred Stock(2)	12/29/2023	105,723	40		40

34

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
				54	54
FireHydrant, Inc.	Preferred Stock	5/23/2023	113,050	115	125
Highbeam, Inc.	Common Stock(2)	2/10/2023	37,361	2	2
Idelic Inc.	Preferred Stock	12/10/2021	30,551	46	11
Idelic Inc.	Preferred Stock(2)	11/15/2023	36,661	13	13
				59	24
Luxury Presence, Inc.	Preferred Stock(2)	9/20/2023	7,734	40	25
Machinify, Inc.	Common Stock(2)	8/25/2023	27,040	36	36
Manufactured Networks, Inc.	Preferred Stock(2)	5/6/2022	99,657	89	41
Manufactured Networks, Inc.	Preferred Stock(2)	9/13/2023	73,666	25	22
				114	63
Metropolis Technologies, Inc.	Common Stock(2)	3/30/2022	3,495	3	21
OnSiteIQ, Inc.	Common Stock	6/16/2023	102,864	14	64
Strata Identity, Inc.	Preferred Stock(2)	11/3/2021	4,297	4	4
Virtual Facility, Inc.	Preferred Stock(2)	10/3/2023	54,775	16	16
Total Business/Productivity Software - 0.15%*				457	434
Commercial Services
Dumpling, Inc.	Preferred Stock(2)	9/30/2020	17,003	6	6
Total Commercial Services - 0.00%*				6	6
Communication Software
Hiya, Inc.	Preferred Stock(2)	5/27/2020	115,073	54	54
Total Communication Software - 0.02%*				54	54
Computer Hardware
Canvas Construction Inc.	Preferred Stock(2)	11/30/2021	92,940	79	21
Swift Navigation, Inc.	Preferred Stock(2)	7/30/2020	46,589	39	109
Quantum Circuits, Inc.	Preferred Stock(2)	4/29/2022	31,067	40	40
Grey Orange International Inc.	Preferred Stock(2)	3/16/2021	13,940	92	32
Total Computer Hardware - 0.07%*				250	202
Consumer Finance
Activehours, Inc.	Preferred Stock(2)	10/8/2020	49,296	129	319
Activehours, Inc.	Preferred Stock(2)	9/30/2021	6,162	16	40
Activehours, Inc.	Preferred Stock(2)	12/30/2022	14,800	80	96
				225	455
Cherry Technologies Inc.	Preferred Stock	11/23/2021	77,891	195	432
The Aligned Company	Preferred Stock	10/21/2021	17,564	50	574
The Aligned Company	Preferred Stock	4/1/2022	569	8	6
				58	580
Upgrade, Inc.	Preferred Stock(2)	5/27/2020	273,738	44	108
Vestwell Holdings Inc.	Preferred Stock(2)	9/3/2021	36,715	54	30
Total Consumer Finance - 0.55%*				576	1,605
Consumer Non-Durables
Athletic Greens International, Inc.	Preferred Stock(2)	6/3/2022	113	4	4
Don't Run Out, Inc.	Preferred Stock(2)	12/30/2021	18,398	14	6
Don't Run Out, Inc.	Preferred Stock(2)	10/31/2022	24,531	16	7
				30	13
Prose Beauty, Inc.	Common Stock(2)	12/18/2023	24,510	155	155
Trueskin GmbH(1)(3)	Preferred Stock(2)	4/13/2022	20	9	9
Total Consumer Non-Durables - 0.06%*				198	181
Consumer Products and Services
Baby Generation, Inc.	Common Stock	1/26/2022	13,587	10	10
The Black Tux Holdings, Inc.	Preferred Stock	11/5/2021	142,939	139	460
Bloom and Wild Midco 2 Limited(1)(3)	Ordinary Shares(2)	10/7/2022	192	9	4
Dance Gmbh(1)(3)	Preferred Stock(2)	3/31/2022	35	37	8

35

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Dance Gmbh(1)(3)	Preferred Stock(2)	2/21/2023	45	21	11
				58	19
Elektra Mobility Inc.(11)	Preferred Stock(2)	5/6/2022	—	—	—
Elodie Games, Inc.	Preferred Stock(2)	9/16/2021	22,874	48	48
Ephemeral Solutions, Inc.	Common Stock(2)	2/24/2022	2,286	12	—
Ever/Body, Inc.	Preferred Stock	9/7/2021	281,262	138	45
Everdrop GmbH(1)(3)	Preferred Stock(2)	3/16/2022	14	24	25
Flink SE(1)(3)	Common Stock(2)	4/13/2022	18	23	—
Foodology Inc.(1)(3)	Preferred Stock(2)	3/25/2022	2,869	12	9
Good Eggs, Inc.	Preferred Stock	8/12/2021	83,265	142	12
Hydrow, Inc.	Common Stock	2/9/2021	50,863	70	—
Hydrow, Inc.	Preferred Stock	8/6/2021	22,299	35	—
Hydrow, Inc.	Preferred Stock	8/6/2021	13,936	25	—
				130	—
Immersive Group Gaming LTD(1)	Preferred Stock(2)	7/12/2021	451,039	115	86
JOKR S.a.r.l.(1)(3)	Preferred Stock(2)	7/24/2023	14,763	538	81
Lower Holding Company	Preferred Stock	12/28/2022	36,608	47	7
Nakdcom One World AB(1)(3)	Preferred Stock(2)	6/6/2022	14,709	20	—
Nakdcom One World AB(1)(3)	Preferred Stock(2)	9/29/2023	14,709	26	27
Nakdcom One World AB(1)(3)	Preferred Stock(2)	12/28/2023	15,000	—	—
Nakdcom One World AB(1)(3)	Preferred Stock(2)	12/28/2023	45,000	79	83
				125	110
Pair Eyewear, Inc.	Common Stock(2)	7/12/2022	2,288	5	7
Placemakr, Inc.	Preferred Stock(2)	8/25/2023	31,796	118	118
Planet A Foods GmbH(1)(3)	Preferred Stock(2)	6/1/2022	13,722	30	30
Project 1920, Inc.	Preferred Stock(2)	3/25/2022	2,823	2	—
Spinn, Inc.	Preferred Stock(2)	2/24/2022	8,142	10	—
Tempo Interactive Inc.	Preferred Stock	3/31/2021	4,413	25	4
Tripscout, Inc.	Preferred Stock(2)	8/12/2021	37,532	7	7
Well Dot, Inc.	Preferred Stock(2)	12/18/2020	12,680	55	67
Well Dot, Inc.	Preferred Stock(2)	3/29/2022	2,026	9	9
				64	76
Total Consumer Products and Services - 0.40%*				1,831	1,158
Database Software
Cohesity, Inc.	Preferred Stock(2)	5/27/2020	3,789	21	21
SiSense, Inc.	Success Fee	12/28/2021	—	95	233
Total Database Software - 0.09%*				116	254
E-Commerce - Clothing and Accessories
Dia Styling Co.(11)	Preferred Stock(2)	6/30/2022	—	—	—
FabFitFun, Inc.	Preferred Stock	9/23/2021	81,572	217	114
FabFitFun, Inc.	Common Stock	9/29/2023	60,692	194	194
				411	308
Minted, Inc.	Preferred Stock	9/30/2020	29,702	300	143
TFG Holding, Inc.	Common Stock	11/30/2020	70,203	249	—
TFG Holding, Inc.	Common Stock	3/31/2022	9,360	26	—
				275	—
Trendly, Inc.	Preferred Stock	5/27/2021	191,580	115	305
Total E-Commerce - Clothing and Accessories - 0.26%*				1,101	756
E-Commerce - Personal Goods
Forum Brands, LLC	Preferred Stock	7/6/2021	14,143	149	204
Forum Brands, LLC	Preferred Stock	12/23/2021	12,964	188	192
Forum Brands, LLC	Preferred Stock	10/11/2023	2,829	42	42
				379	438
Merama Inc.	Preferred Stock	4/28/2021	71,728	589	563
Total E-Commerce - Personal Goods - 0.34%*				968	1,001

36

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Elder and Disabled Care
Honor Technology, Inc.	Preferred Stock(2)	5/27/2020	130,618	50	192
Total Elder and Disabled Care - 0.07%*				50	192
Energy
Arcadia Power, Inc.	Preferred Stock	12/10/2021	30,810	77	133
Arcadia Power, Inc.	Preferred Stock	6/29/2022	19,795	117	52
				194	185
Kobold Metals Company	Preferred Stock(2)	7/16/2021	37,287	37	1,035
Total Energy - 0.42%*				231	1,220
Entertainment Software
Encore Music Technologies, Inc.	Preferred Stock(2)	4/14/2022	15,280	15	—
Encore Music Technologies, Inc.	Preferred Stock(2)	5/16/2023	4,475	1	—
				16	—
FRVR Limited(1)(3)	Preferred Stock(2)	5/17/2022	37,335	60	62
Total Entertainment Software - 0.02%*				76	62
Financial Software
Parker Group Inc.	Common Stock	4/6/2022	2,667	9	9
Wisetack, Inc.(1)	Common Stock	12/21/2022	23,086	84	57
Zolve Innovations Inc.	Preferred Stock	7/28/2022	3,172	9	9
Total Financial Software - 0.03%*				102	75
Food Products
AllPlants Ltd(1)(3)	Ordinary Shares(2)	5/6/2021	4,635	77	39
Total Food Products - 0.01%*				77	39
General Media and Content
Overtime Sports, Inc.	Preferred Stock(2)	5/4/2022	2,234	5	5
Total General Media and Content - 0.00%*				5	5
Healthcare Services
Found Health, Inc.	Preferred Stock(2)	3/25/2022	2,465	1	1
Levels Health Inc.	Preferred Stock	9/3/2021	47,162	37	216
OpenLoop Health, Inc.	Preferred Stock(2)	6/16/2023	11,186	51	60
OpenLoop Health, Inc.	Preferred Stock(2)	6/16/2023	5,593	25	30
OpenLoop Health, Inc.	Preferred Stock(2)	11/20/2023	16,779	89	89
				165	179
Perry Health, Inc.	Preferred Stock(2)	5/31/2023	96,516	42	42
Pet Folk Inc.	Preferred Stock(2)	6/10/2022	169,684	13	29
Wispr AI, Inc.(11)	Preferred Stock(2)	5/31/2022	—	—	—
Total Healthcare Services - 0.16%*				258	467
Healthcare Technology Systems
Calibrate Health, Inc.	Common Stock(2)	10/30/2023	118,190	253	—
Capsule Corporation	Preferred Stock	5/27/2020	45,008	119	8
Curology, Inc.	Preferred Stock(2)	5/27/2020	12,007	19	8
K Health, Inc.	Common Stock	7/14/2023	61,224	187	187
Noho Dental, Inc.	Preferred Stock(2)	11/3/2020	56,109	228	228
SafelyYou Inc.	Preferred Stock(2)	1/21/2021	69,346	21	187
Total Healthcare Technology Systems - 0.21%*				827	618
Household Products
Grove Collaborative, Inc.	Preferred Stock(2)	5/27/2020	33,038	72	—
Total Household Products - 0.00%*				72	—
Human Capital Services
Eightfold AI Inc.	Preferred Stock(2)	5/27/2020	69,577	186	336
Karat Financial Technologies Incorporated	Preferred Stock(2)	6/18/2021	156,720	91	713

37

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Karat Financial Technologies Incorporated	Preferred Stock(2)	1/11/2023	8,012	18	18
				109	731
WorkStep Inc.	Preferred Stock(2)	5/6/2021	17,244	12	31
Total Human Capital Services - 0.38%*				307	1,098
Information Services (B2C)
Cleo AI Ltd.(1)(3)	Preferred Stock(2)	5/27/2020	41,041	82	66
Kasa Living, Inc.	Preferred Stock(2)	4/12/2021	25,832	72	69
Tempus Ex Machina, Inc.	Preferred Stock(2)	5/1/2023	53,879	38	38
Total Information Services (B2C) - 0.06%*				192	173
Infrastructure
GoEuro Corp.(1)(3)	Preferred Stock	5/27/2020	2,775	90	93
GoEuro Corp.(1)(3)	Preferred Stock(2)	8/26/2022	2,439	65	105
GoEuro Corp.(1)(3)	Preferred Stock(2)	9/29/2023	3,902	167	167
Total Infrastructure - 0.13%*				322	365
Life and Health Insurance
Angle Health, Inc.	Preferred Stock(2)	3/18/2022	140,450	29	28
Beam Technologies Inc.	Preferred Stock(2)	5/27/2020	5,344	57	107
Sidecar Health, Inc.	Preferred Stock	8/26/2021	32,620	34	7
Total Life and Health Insurance - 0.05%*				120	142
Logistics
Passport Labs, Inc.	Common Stock(2)	5/27/2020	2,102	51	51
Total Logistics - 0.02%*				51	51
Medical Software and Information Services
HI LLC (Kernel)	Preferred Stock	12/21/2020	49,425	48	—
HI LLC (Kernel)	Common Stock(2)	2/28/2023	175,000	44	2
Total Medical Software and Information Services - 0.00%*				92	2
Multimedia and Design Software
Hover Inc.	Preferred Stock	9/30/2022	45,910	77	90
Spire Animation Studios, Inc.	Preferred Stock	5/12/2021	21,084	80	—
Spire Animation Studios, Inc.	Preferred Stock	9/30/2021	27,559	105	—
				185	—
Total Multimedia and Design Software - 0.03%*				262	90
Network Management Software
Callsign, Inc.(1)(3)	Preferred Stock(2)	5/27/2020	21,604	180	180
Skyflow Inc.	Preferred Stock	6/26/2023	19,441	31	6
Total Network Management Software - 0.06%*				211	186
Other Financial Services
Aven Holdings(1)	Common Stock	5/16/2023	35,857	361	343
Jerry Services, Inc.	Preferred Stock(2)	6/13/2022	2,235	8	5
N26 GmbH(1)(3)	Preferred Stock(2)	10/15/2021	6	173	128
Relay Commerce, Inc.	Preferred Stock(2)	8/22/2022	123,047	60	28
Relay Commerce, Inc.	Preferred Stock(2)	5/18/2023	12,305	4	3
Relay Commerce, Inc.	Preferred Stock(2)	9/29/2023	24,610	7	6
				71	37
Total Other Financial Services - 0.18%*				613	513
Real Estate Services
Belong Home, Inc.	Preferred Stock(2)	2/15/2022	7,730	6	15
Divvy Homes Inc.	Preferred Stock(2)	10/27/2020	128,289	470	1,124
Firemaps, Inc.	Preferred Stock(2)	5/31/2023	24,539	33	33
Homelight, Inc.	Preferred Stock(2)	7/27/2022	2,446	8	1
Homeward, Inc.	Preferred Stock	12/10/2021	38,302	148	18

38

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Warrant	Acquisition Date(10)	Shares	Cost(6)		Fair Value
McN Investments Ltd.(1)(3)	Preferred Stock(2)	5/27/2022	1,874	15		6
Mynd Management, Inc.	Preferred Stock	5/27/2020	43,472	83		113
Mynd Management, Inc.	Preferred Stock	5/25/2022	1,544	1		1
Mynd Management, Inc.	Preferred Stock	6/29/2023	16,471	11		11
				95		125
Side, Inc.	Preferred Stock	7/29/2020	71,501	57		583
True Footage, Inc.	Preferred Stock	11/24/2021	88,762	122		287
Total Real Estate Services - 0.75%*				954		2,192
Social/Platform Software
ClassPass Inc.	Preferred Stock(2)	5/27/2020	14,085	43		25
Sylva, Inc.	Preferred Stock	7/12/2021	44,872	30		113
Sylva, Inc.	Preferred Stock	12/21/2021	44,872	30		113
				60		226
Total Social/Platform Software - 0.09%*				103		251
Software Development Applications
Appex Group, Inc.	Preferred Stock(2)	11/15/2021	14,621	—		—
Appex Group, Inc.(11)	Preferred Stock(2)	4/14/2022	—	—		—
				—		—
Forte Labs, Inc.	Preferred Stock(2)	12/30/2020	318,571	65		223
Total Software Development Applications - 0.08%*				65		223
Total Warrant Investments - 5.82%*				$	13,419	$	16,915

39

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Equity Investments(9)
Business Applications Software
DialPad, Inc.	Preferred Stock(2)	9/22/2020	9,016	$	70	$	62
Filevine, Inc.	Preferred Stock(2)	2/4/2022	22,541	143		111
Flashparking, Inc.	Preferred Stock(2)	7/19/2022	19,870	272		264
Tide Platform Limited(1)(3)	Preferred Stock(2)	8/19/2021	43,338	515		481
Uniphore Technologies, Inc.	Preferred Stock(2)	1/28/2022	8,066	100		82
Total Business Applications Software - 0.34%*				1,100		1,000
Business Products and Services
Certamen Ventures Inc.	Preferred Stock(2)	3/4/2022	97,195	200		112
Elsker, Inc.	Preferred Stock(2)	7/5/2022	44,444	55		55
MXP Prime Platform GmbH(1)(3)	Common Stock(2)	2/15/2022	83	570		6
MXP Prime Platform GmbH(1)(3)	Preferred Stock(2)	6/29/2023	11	—		64
MXP Prime Platform GmbH(1)(3)	Preferred Stock(2)	6/29/2023	23	25		25
				595		95
Printify, Inc.	Preferred Stock(2)	8/24/2021	13,850	50		50
Strata Identity, Inc.	Preferred Stock(2)	6/24/2022	71,633	250		244
Total Business Products and Services - 0.19%*				1,150		556
Business to Business Marketplace
Material Technologies Corporation	Preferred Stock(2)	4/23/2021	12,822	261		217
Material Technologies Corporation	Preferred Stock(2)	4/23/2021	9,285	189		157
Material Technologies Corporation	Preferred Stock(2)	4/29/2022	15,050	500		366
Total Business to Business Marketplace - 0.25%*				950		740
Consumer Finance
Activehours, Inc.	Preferred Stock(2)	11/10/2020	9,859	100		151
Total Consumer Finance - 0.05%*				100		151
Consumer Products and Services
Divvy Homes Inc.	Preferred Stock(2)	7/28/2021	4,965	95		95
Divvy Homes Inc.	Common Stock(2)	7/28/2021	261	5		5
				100		100
Ever/Body, Inc.	Preferred Stock(2)	4/5/2022	195,574	350		141
Everdrop GmbH(1)(3)	Preferred Stock(2)	7/5/2022	13	52		55
Hydrow, Inc.	Preferred Stock(2)	12/14/2020	42,642	166		6
Hydrow, Inc.	Preferred Stock(2)	3/19/2021	22,881	165		6
				331		12
JOKR S.a.r.l.(1)(3)	Preferred Stock(2)	12/7/2021	5,688	375		328
JOKR S.a.r.l.(1)(3)	Preferred Stock(2)	11/3/2022	1,575	75		95
				450		423
Pair Eyewear, Inc.	Preferred Stock(2)	3/16/2023	48,598	250		250
Planet A Foods GmbH(1)(3)	Preferred Stock(2)	6/27/2023	1,880	10		10
Well Dot, Inc.	Preferred Stock(2)	10/16/2020	26,416	250		322
Total Consumer Products and Services - 0.45%*				1,793		1,313
Cultivation
May Acquisitions Limited(1)(3)	Preferred Stock(2)	12/29/2023	8,750	—		—
Total Cultivation - 0.00%*				—		—
E-Commerce - Personal Goods
Forum Brands, LLC	Preferred Stock(2)	7/16/2021	493	90		31
Merama Inc.	Preferred Stock(2)	4/19/2021	5,433	31		57
Merama Inc.	Preferred Stock(2)	4/19/2021	6,944	13		80
Merama Inc.	Preferred Stock(2)	9/1/2021	3,862	62		60
				106		197
Total E-Commerce - Personal Goods - 0.08%*				196		228

40

TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)	Fair Value
Elder and Disabled Care
Honor Technology, Inc.	Preferred Stock(2)	10/16/2020	82,443	198	228
Honor Technology, Inc.	Preferred Stock(2)	10/1/2021	20,932	66	66
Total Elder and Disabled Care - 0.10%*				264	294
Energy
Arcadia Power, Inc.	Preferred Stock(2)	9/21/2021	16,438	167	174
Kobold Metals Company	Preferred Stock(2)	1/10/2022	25,537	700	941
Total Energy - 0.38%*				867	1,115
Financial Services
Overtime Sports, Inc.	Preferred Stock(2)	8/2/2022	19,148	150	150
Total Financial Services -0.05%*				150	150
Food Products
Koatji, Inc.(1)(3)	Preferred Stock(2)	2/15/2023	155,164	50	50
Total Food Products -0.02%*				50	50
General Media and Content
Redesign Health Inc.	Preferred Stock(2)	7/12/2022	5,919	100	100
Total General Media and Content - 0.03%*				100	100
Healthcare Services
Calibrate Health, Inc.	Preferred Stock(2)	7/30/2021	62,252	333	1
Levels Health Inc.	Preferred Stock(2)	6/10/2022	17,953	187	187
Pet Folk Inc.	Preferred Stock(2)	8/24/2022	949,667	200	285
Total Healthcare Services - 0.16%*				720	473
Healthcare Technology Systems
Capsule Corporation	Preferred Stock(2)	4/21/2021	863	13	2
Capsule Corporation	Preferred Stock(2)	12/29/2022	519	2	1
Total Healthcare Technology Systems - —%*				15	3
Information Services (B2C)
Kasa Living, Inc.	Preferred Stock(2)	12/29/2022	22,725	150	150
Total Information Services (B2C) - 0.05%*				150	150
Infrastructure
GoEuro Corp.(1)(3)	Preferred Stock(2)	5/9/2022	1,326	82	133
GoEuro Corp.(1)(3)	Preferred Stock(2)	5/13/2022	1,027	79	103
Total Infrastructure - 0.08%*				161	236
Life and Health Insurance
Beam Technologies Inc.	Preferred Stock(2)	1/5/2021	1,901	80	87
Total Life and Health Insurance - 0.03%*				80	87
Multimedia and Design Software
Hover Inc.	Preferred Stock(2)	9/30/2022	10,595	58	66
Total Multimedia and Design Software - 0.02%*				58	66
Other Financial Services
Jerry Services, Inc.	Preferred Stock(2)	4/29/2022	656	8	6
N26 GmbH(1)(3)	Preferred Stock(2)	12/8/2021	12	690	817
Total Other Financial Services - 0.28%*				698	823
Real Estate Services
Belong Home, Inc.	Preferred Stock(2)	4/15/2022	6,033	29	29
Habyt GmbH	Preferred Stock(2)	2/21/2023	400	443	252
McN Investments Ltd.(1)(3)	Preferred Stock(2)	5/6/2022	749	20	14
True Footage, Inc.	Preferred Stock(2)	10/18/2021	18,366	100	122
Total Real Estate Services - 0.14%*				592	417

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TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS (dollars in thousands) As of December 31, 2023
Company	Type of Equity	Acquisition Date(10)	Shares	Cost(6)		Fair Value
Software Development Applications
Forte Labs, Inc.	Preferred Stock(2)	5/13/2021	184,679	250		303
Total Software Development Applications - 0.10%*				250		303
Total Equity Investments - 2.84%*				$	9,444	$	8,255
Total Investments in Portfolio Companies - 137.74%*(4)(5)				$	406,433	$	400,195

Cash Equivalents
Money Market Fund	Type of Investment	Ticker	Cost		Fair Value
Federated Government Obligations Fund	Cash Equivalents	PRM	$	45,013	$	45,013
Total Cash Equivalents - 15.49%*			$	45,013	$	45,013

Foreign Currency Forward Contracts
Foreign Currency	Settlement Date	Counterparty	Amount		Transaction	US $ Value at Settlement Date		Unrealized Loss
British Pound Sterling (GBP)	2/1/2024	Zions Bancorporation, N.A.	£	6,000	Sold	$	7,300	$	(345)
Euro (EUR)	2/1/2024	Zions Bancorporation, N.A.	€	2,000	Sold	$	2,127	$	(82)
Euro (EUR)	3/28/2024	Zions Bancorporation, N.A.	€	1,000	Sold	$	1,104	$	(3)
Total Foreign Currency Forward Contracts - (0.15)%*						$	10,531	$	(430)

_______________

(1)Investment is a non-qualifying asset under Section 55(a) of the 1940 Act. As of December 31, 2023, non-qualifying assets represented 11.7% of the Company’s total assets, at fair value.

(2)As of December 31, 2023, this investment was not pledged as collateral as part of the Company’s revolving credit facility.

(3)Entity is not domiciled in the United States and does not have its principal place of business in the United States.

(4)The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

(5)All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Board.

(6)Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $9.3 million, $16.7 million and $7.4 million, respectively, for the December 31, 2023 investment portfolio. The tax cost of investments is $407.6 million.

(7)Debt is on non-accrual status as of December 31, 2023 and is therefore considered non-income producing. Non-accrual investments as of December 31, 2023 had a total cost and fair value of $19.9 million and $15.1 million, respectively.

(8)Warrants are associated with funded debt instruments as well as certain commitments to provide future funding against certain unfunded obligations.

(9)Non-income producing investments.

(10)Acquisition date represents the date of the initial investment in the portfolio investment.

(11)Number of shares and/or fair value will be determined based on the occurrence of future events.

*    Value as a percentage of net assets.

Notes applicable to the investments presented in the foregoing schedules of investments:

•No investment represents a 5% or greater interest in any outstanding class of voting security of the portfolio company.

Notes applicable to the debt investments presented in the foregoing schedules of investments:

•Unless otherwise noted, interest rate is the annual cash interest rate on the debt investment and does not include any original issue discount (“OID”), end-of-term (“EOT”) payment, or any additional fees related to the investments, such as deferred interest, commitment fees or prepayment fees.

•For each debt investment tied to the Prime rate (“Prime”), as of September 30, 2024 and December 31, 2023, Prime was 8.00% and 8.50%, respectively. As of September 30, 2024, approximately 80.2%, or $289.0 million in principal balance, of the debt investments in the Company’s portfolio bore interest at floating rates, which generally are Prime-based, all of which have interest rate floors at or above 3.25%. As of December 31, 2023, approximately 79.7%, or $304.5 million in principal balance, of the debt investments in the Company’s portfolio bore interest at floating rates, which generally are Prime-based, all of which had interest rate floors at or above 3.25%.

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•The EOT payments are contractual and fixed interest payments due in cash at the maturity date of the loan, including upon prepayment, and are a fixed percentage of the original principal balance of the loan unless otherwise noted. The EOT payment is amortized and recognized as non-cash income over the loan or lease prior to its payment.

•Some of the terms noted in the foregoing table are subject to change based on certain events such as prepayments.

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TRIPLEPOINT PRIVATE VENTURE CREDIT INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2024

(unaudited)

Note 1. Organization

TriplePoint Global Venture Credit, LLC was formed on October 2, 2019 as a Maryland limited liability company. On May 27, 2020, TriplePoint Global Venture Credit, LLC changed its name to TriplePoint Private Venture Credit Inc. (the “Company”) in connection with its conversion from a Maryland limited liability company to a Maryland corporation and the commencement of its investment operations. The Company is structured as an externally-managed, closed-end investment company that has elected to be treated as a business development company (“BDC”) under the 1940 Act. The Company has elected to be treated, and intends to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).

The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income from secured loans, and secondarily through capital gains from equity “kickers” in the form of warrants and direct equity investments to venture capital-backed companies. The Company is externally managed by TriplePoint Advisers LLC (the “Adviser”), which is registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and is a wholly owned subsidiary of TriplePoint Capital LLC (“TPC”). The Adviser is responsible for sourcing, reviewing and structuring investment opportunities, underwriting and performing due diligence on investments and monitoring the investment portfolio on an ongoing basis. The Adviser was organized in August 2013 and, pursuant to an investment advisory agreement entered into between the Company and the Adviser (the “Advisory Agreement”), the Company pays the Adviser a base management fee and an incentive fee for its investment management services.  The Company has also entered into an administration agreement (the “Administration Agreement”) with TriplePoint Administrator LLC (the “Administrator”), a wholly owned subsidiary of the Adviser, pursuant to which the Administrator provides or arranges for the provision of all administrative services necessary for the Company to operate.

The Company has two wholly owned subsidiaries: TPVC Funding Company LLC (the “Financing Subsidiary”), a bankruptcy remote special purpose entity established for utilizing the Company’s revolving credit facility whose creditors have a claim on its assets prior to those assets becoming available to the Financing Subsidiary’s equity holders, and TPVC Investment LLC, an entity established for holding certain of the Company’s investments in order to benefit without negatively impacting the Company’s RIC tax status. These subsidiaries are consolidated in the financial statements of the Company.

Note 2. Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying interim consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6, 10 and 12 of Regulation S-X. Accordingly, certain disclosures required by GAAP for the annual reporting of consolidated financial statements are omitted.

The consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All adjustments and reclassifications that are necessary for the fair representation of financial results as of and for the periods presented have been included and all intercompany account balances and transactions have been eliminated.

Certain items in the prior period’s consolidated financial statements have been conformed to the current period’s presentation. These presentation changes, if any, did not impact any prior amounts of reported total assets, total liabilities, net assets or results of operations.

These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 13, 2024, including the significant accounting policies described in “Note 2. Significant Accounting Policies” in the Company’s consolidated financial statements included therein.

Note 3. Related Party Agreements and Transactions

Investment Advisory Agreement

In accordance with the Advisory Agreement, subject to the overall supervision of the Board and in accordance with the 1940 Act, the Adviser manages the day-to-day operations and provides investment advisory services to the Company. Under the terms of the Advisory Agreement, the Adviser:

•determines the composition of the Company’s portfolio, the nature and timing of changes to the Company’s portfolio and the manner of implementing such changes;

•identifies, evaluates and negotiates the structure of investments;

•executes, closes, services and monitors investments;

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•determines the securities and other assets purchased, retained or sold;

•performs due diligence on prospective investments; and

•provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds.

As consideration for the investment advisory and management services provided, and pursuant to the Advisory Agreement, the Company has agreed to pay the Adviser a fee consisting of two components - a base management fee and an incentive fee. The cost of both the base management fee and incentive fee is ultimately borne by the Company’s stockholders.

Base Management Fee

The base management fee is calculated at an annual rate of 1.75% of the Company’s average invested equity capital (as defined below) as of the end of the then-current quarter and the prior calendar quarter. For this purpose, “invested equity capital” means the amounts drawn on the Company’s capital commitments from investors.

Following the closing of the listing of shares of the Company’s common stock on a national securities exchange, including in connection with an initial public offering (“IPO”), the base management fee will be calculated at an annual rate of 1.75% of the Company’s average adjusted gross assets, including assets purchased with borrowed funds. The base management fee will be calculated based on the average value of the Company’s gross assets at the end of its two most recently completed calendar quarters.

Incentive Fee

The incentive fee, which provides the Adviser with a share of the income that it generates for the Company, consists of two components - investment income and capital gains - which are largely independent of each other, with the result that one component may be payable even if the other is not payable.

Under the investment income component, the Company will pay the Adviser each quarter 20.0% of the amount by which the Company’s pre-incentive fee net investment income for the quarter exceeds a hurdle rate of 2.0% (which is 8.0% annualized) of its net assets at the end of the immediately preceding calendar quarter, subject to a “catch-up” provision pursuant to which the Adviser receives all of such income in excess of the 2.0% level but less than 2.5%. The effect of the “catch-up” provision is that if pre-incentive fee net investment income exceeds 2.5% in any calendar quarter, the Adviser receives 20.0% of the Company’s pre-incentive fee net investment income as if the 2.0% hurdle rate did not apply.

Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital gains or losses. The investment income component of the incentive fee will be subject to a total return requirement, which will provide that no incentive fee in respect of the Company’s pre-incentive fee net investment income will be payable except to the extent that 20.0% of the cumulative net increase in net assets resulting from operations over the then current and 11 preceding quarters (the “Trailing Twelve Quarters”) exceeds the cumulative incentive fees accrued and/or paid for the 11 preceding quarters. In other words, any investment income incentive fee that is payable in a calendar quarter is limited to the lesser of (i) 20.0% of the amount by which the Company’s pre-incentive fee net investment income for such calendar quarter exceeds the 2.0% hurdle, subject to the “catch-up” provision and (ii) (x) 20.0% of the cumulative net increase in net assets resulting from operations for the Trailing Twelve Quarters minus (y) the cumulative incentive fees accrued and/or paid for the 11 preceding calendar quarters. For the foregoing purpose, the “cumulative net increase in net assets resulting from operations” is the sum of the Company’s pre-incentive fee net investment income, realized gains and losses and unrealized appreciation and depreciation for the Trailing Twelve Quarters. However, following the occurrence (if any) of an IPO, the Trailing Twelve Quarters will be “reset” so as to include, as of the end of any quarter, the calendar quarter then ending and the 11 preceding calendar quarters (or if shorter, the number of quarters that have occurred since the IPO, rather than the number of quarters that have occurred since May 27, 2020).

The capital gains component of the incentive fee will be determined and paid annually in arrears at the end of each calendar year or, in the event of an Advanced Liquidity Event (as defined below), the date on which the closing of such Advanced Liquidity Event occurs. At the end of each calendar year (or upon the effectuation of an Advanced Liquidity Event), the Company will pay the Adviser (A) 20.0% of the difference, if positive, of the sum of aggregate cumulative realized capital gains, if any, computed net of aggregate cumulative realized capital losses, if any, and aggregate cumulative unrealized capital depreciation, in each case from May 27, 2020, the initial effective date of the Advisory Agreement, through the end of such year (or the date on which an Advanced Liquidity Event occurs), less (B) the aggregate amount of any previously paid capital gains incentive fees from May 27, 2020 until the end of such calendar year (or the date on which an Advanced Liquidity Event occurs). For the foregoing purpose, “aggregate cumulative realized capital gains” does not include any unrealized capital appreciation. An Advanced Liquidity Event could include: (1) a listing of the Company’s shares of capital stock on a national securities exchange, including through an IPO, (2) a merger with another entity, including an affiliated company, subject to any limitations under the 1940 Act or (3) the sale of all or substantially all of the assets of the Company.

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The Company will accrue, but not pay, a portion of the capital gains incentive fee with respect to net unrealized appreciation. Under GAAP, the Company is required to accrue a capital gains incentive fee that includes net realized capital gains and losses and net unrealized capital appreciation and depreciation on investments held at the end of each period. In calculating the accrual for the capital gains component of the incentive fee, the Company will consider the cumulative aggregate unrealized capital appreciation in the calculation, since an incentive fee based on capital gains would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the Advisory Agreement. This accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital appreciation or depreciation. If such amount is positive at the end of a period, then the Company will record a capital gains incentive fee equal to 20.0% of such amount, minus the aggregate amount of the actual capital gains incentive fee paid in all prior periods. If such amount is negative, then there is no accrual for such period and previous accruals for capital gains incentive fees may be reversed. There can be no assurance that such unrealized capital appreciation will be realized in the future. Additionally, if the Advisory Agreement is terminated as of a date that is not a calendar year end, including upon the effectuation of a merger of the Company with another entity (including an affiliated company, subject to any limitations under the 1940 Act) or the sale of all or substantially all of the Company’s assets, the termination date is treated as though it were a calendar year end for purposes of calculating and paying the capital gains incentive fee.

Base management and incentive fees are paid in the quarter following that in which they are earned. The base management fee and income incentive fee earned by the Adviser and capital gains incentive fee accrual are included in the Company’s consolidated financial statements and summarized in the table below:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Base Management and Incentive Fees (in thousands)	2024		2023		2024		2023
Base management fee	$	1,552	$	1,378	$	4,647	$	4,089
Income incentive fee	$	—	$	—	$	—	$	—
Capital gains incentive fee	$	—	$	—	$	—	$	—

Administration Agreement

The Administration Agreement provides that the Administrator is responsible for furnishing the Company with office facilities and equipment and providing the Company with clerical, bookkeeping, recordkeeping services and other administrative services at such facilities. Under the Administration Agreement, the Administrator performs, or oversees, or arranges for, the performance of the Company’s required administrative services, which includes being responsible for the financial and other records which the Company is required to maintain and preparing reports to the Company’s stockholders and reports and other materials filed with the SEC and any other regulatory authority. In addition, the Administrator assists the Company in determining and publishing net asset value (“NAV”), overseeing the preparation and filing of the Company’s tax returns and printing and disseminating reports and other materials to the Company’s stockholders, and generally oversees the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides significant managerial assistance on the Company’s behalf to those companies that have accepted the Company’s offer to provide such assistance.

In consideration of the provision of the services of the Administrator, the Company reimburses the Administrator for the costs and expenses incurred by the Administrator in performing its obligations and providing personnel and facilities under the Administration Agreement. Payments under the Administration Agreement are equal to the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead resulting from its obligations under the Administration Agreement, including rent and the allocable portion of the cost of the chief compliance officer and chief financial officer and their respective staffs. In addition, if requested to provide significant managerial assistance to the Company’s portfolio companies, the Administrator is paid an additional amount based on the services provided, which shall not exceed the amount the Company receives from such companies for providing this assistance.

For the three months ended September 30, 2024 and 2023, expenses paid or payable by the Company to the Administrator under the Administration Agreement were $0.5 million and $0.5 million, respectively.

For the nine months ended September 30, 2024 and 2023, expenses paid or payable by the Company to the Administrator under the Administrative Agreement were $1.7 million and $1.5 million, respectively.

Note 4. Investments

The Company measures the fair value of its investments in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or “ASC Topic 820,” issued by the FASB. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The Audit Committee of the Board is responsible for assisting the Board in valuing investments for which current market quotations are not readily available. Investments for which market quotations are readily available are valued using market quotations, which are generally obtained from pricing services, broker-dealers or market makers.

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The Company values its investments for which market quotations are not readily available at fair value as determined in good faith by the Board, with the assistance of the Adviser and independent valuation agents, in accordance with Rule 2a-5 of the 1940 Act and GAAP, and in accordance with the Company’s valuation methodologies. If more than one valuation method is used to measure fair value, the results are evaluated and weighted, as appropriate, considering the reasonableness of the range indicated by those results. The Adviser considers a range of fair values based upon the valuation techniques utilized and selects a value within that range that most accurately represents fair value based on current market conditions as well as other factors the Adviser’s valuation committee considers relevant. The Board determines fair value of its investments on at least a quarterly basis or at such other times when the Board feels it would be appropriate to do so given the circumstances. A determination of fair value involves subjective judgments and estimates and depends on the facts and circumstances present at each valuation date. Due to the inherent uncertainty of determining fair value of portfolio investments that do not have a readily available market value, fair value of investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.

ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC Topic 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation. In accordance with ASC Topic 820, these inputs are summarized in the three levels listed below:

Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2—Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuations techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the investment.

Under ASC Topic 820, the fair value measurement also assumes that the transaction to sell an asset occurs in the principal market for the asset or, in the absence of a principal market, the most advantageous market for the asset, which may be a hypothetical market, excluding transaction costs. The principal market for any asset is the market with the greatest volume and level of activity for such asset in which the reporting entity would or could sell or transfer the asset. In determining the principal market for an asset or liability, it is assumed that the reporting entity has access to such market as of the measurement date. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable and willing and able to transact.

For purposes of Section 2(a)(41) and Rule 2a-5 under the 1940 Act, a market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Company can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Any portfolio investment that is not priced using a Level 1 input shall be subject to the fair value determination requirements under Rule 2a-5 and subject to the Company’s valuation procedures.

With respect to investments for which market quotations are not readily available, the Board undertakes a multi-step valuation process each quarter, as described below:

•The quarterly valuation process begins with each portfolio company or investment receiving a proposed valuation by the Adviser. The Adviser’s internal valuation committee (the “Adviser Valuation Committee”) is responsible for the valuation process, including making preliminary valuation conclusions and recommendations to the Audit Committee and Board. The Adviser Valuation Committee does not include any voting members who are portfolio managers or investment professionals.

•The Adviser’s Portfolio Valuation, Monitoring and Analytics (“VMA”) group is responsible for aiding and supporting the Adviser Valuation Committee in the Adviser Valuation Committee’s role of overseeing the valuation process, including for calculating and overseeing the valuation process and valuation conclusions, and including making recommendations with respect to discount rates, liquidity adjustments and other key inputs into the valuation process.

•Proposed valuations are then documented and discussed with the Adviser Valuation Committee and other members of the Adviser’s senior management, including members of the VMA and the Adviser’s Finance, Operations, Legal and Compliance groups.

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•At least 25% of the total dollar value of the Company’s investment portfolio will receive valuation recommendations from an independent third-party valuation firm each quarter, as selected in accordance with the Company’s valuation policy. Each new portfolio investment will be reviewed by an independent third-party valuation firm within 12 months of the date of investment, and thereafter will be reviewed by an independent third-party valuation firm no later than the fourth quarter following its most recent inclusion in such review process. However, a valuation review by an independent third-party valuation firm is not required for an investment whose total dollar value is less than 1% of the total dollar value of the Company’s aggregate investment portfolio (up to an aggregate of 10% of the total dollar value of the Company’s aggregate investment portfolio) or for those assets that the Board and/or Audit Committee has agreed to waive from such requirement.

•The Adviser and the independent third-party valuation firms, if applicable, then present their proposed valuations to the Audit Committee and Board, and the Board makes a fair valuation determination for each portfolio investment that is to be fair valued.

Debt Investments

The debt investments identified on the consolidated schedules of investments are loans made to venture capital-backed companies focused in technology and other high growth industries which are backed by a select group of leading venture capital investors. These investments are considered Level 3 assets under ASC Topic 820 as there is no known or accessible market or market indices for these types of debt instruments and thus the Company must estimate the fair value of these investment securities based on models utilizing unobservable inputs.

To estimate the fair value of debt investments, the Company compares the cost basis of each debt investment, including any OID, to the resulting fair value determined using a discounted cash flow model, unless another model is more appropriate based on the circumstances at the measurement date. The discounted cash flow approach entails analyzing the interest rate spreads for recently completed financing transactions which are similar in nature to these debt investments, in order to determine a comparable range of effective market interest rates. The range of interest rate spreads utilized is based on borrowers with similar credit profiles. All remaining expected cash flows of the investment are discounted using this range of interest rates to determine a range of fair values for the debt investment.

The valuation process includes, among other things, evaluating the underlying investment performance of the portfolio company’s current financial condition and ability to raise additional capital, as well as macro-economic events that may impact valuations. These events include, but are not limited to, current market yields and interest rate spreads of similar securities as of the measurement date. Changes in these unobservable inputs could result in significantly different fair value measurements.

Under certain circumstances, an alternative technique may be used to value certain debt investments that better reflect the fair value of the investment, such as the price paid or realized in a recently completed transaction or a binding offer received in an arm’s length transaction, the use of multiple probability weighted cash flow models when the expected future cash flows contain elements of variability or estimates of proceeds that would be received in a liquidation scenario.

Warrant Investments

Warrant fair values are primarily determined using a Black Scholes option pricing model. Privately held warrants and equity-related securities are valued based on an analysis of various factors, including, but not limited to, those listed below. Increases or decreases in any of the unobservable inputs described below could result in a material change in fair value:

•Underlying enterprise value of the issuer based on available information, including any information regarding the most recent financing round of borrower. Valuation techniques to determine enterprise value include market multiple approaches, income approaches or the use of recent rounds of financing and the portfolio company’s capital structure. Valuation techniques are also utilized to allocate the enterprise fair value of a portfolio company to the specific class of common or preferred stock exercisable in the warrant. Such techniques take into account the rights and preferences of the portfolio company’s securities, expected exit scenarios, and volatility associated with such outcomes to allocate the fair value to the specific class of stock held in the portfolio. Such techniques include option pricing models, including back solve techniques, probability weighted expected return models and other techniques determined to be appropriate.

•Volatility, or the amount of uncertainty or risk about the size of the changes in the warrant investment price, is based on comparable publicly traded companies within indices similar in nature to the underlying company issuing the warrant.

•The risk-free interest rates are derived from the U.S. Treasury yield curve. The risk-free interest rates are calculated based on a weighted average of the risk-free interest rates that correspond closest to the expected remaining life of the warrant investment.

•Other adjustments, including a marketability discount on private company warrant investments, are estimated based on the Adviser’s judgment about the general industry environment.

•Historical portfolio experience on cancellations and exercises of warrant investments are utilized as the basis for determining the estimated life of the warrant investment in each financial reporting period. Warrant investments may be exercised in the event of acquisitions, mergers or initial public offerings, and cancelled due to events such as bankruptcies, restructuring activities or additional financings. These events cause the expected remaining life assumption to be shorter than the contractual term of the warrant investment.

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Under certain circumstances alternative techniques may be used to value certain warrants that more accurately reflect the warrants' fair values, such as an expected settlement of a warrant in the near term, a model that incorporates a put feature associated with the warrant, or the price paid or realized in a recently completed transaction or binding offer received in an arm’s-length transaction. The fair value may be determined based on the expected proceeds to be received from such settlement or based on the net present value of the expected proceeds from the put option.

Equity Investments

The fair value of an equity investment in a privately held company is initially the amount invested. The Company adjusts the fair value of equity investments in private companies upon the completion of a new third party round of equity financing subsequent to its investment. The Company may adjust the fair value of an equity investment absent a new equity financing event based upon positive or negative changes in a portfolio company’s financial or operational performance. The Company may also reference comparable transactions and/or secondary market transactions of comparable companies to estimate fair value. These valuation methodologies involve a significant degree of judgment.

The fair value of an equity investment in a publicly traded company is based upon the closing public share price on the date of measurement.

Investment Valuation

The above-described valuation methodologies involve a significant degree of judgment. There is no single standard for determining the estimated fair value of investments that do not have an active observable market. Valuations of privately held investments are inherently uncertain, as they are based on estimates, and their values may fluctuate over time. The determination of fair value may differ materially from the values that would have been used if an active market for these investments existed. In some cases, the fair value of such investments is best expressed as a range of values derived utilizing different methodologies from which a single estimate may then be determined.

Investments measured at fair value on a recurring basis are categorized in the following table based upon the lowest level of significant input to the valuations as of September 30, 2024 and December 31, 2023. The Company transfers investments in and out of Levels 1, 2 and 3 as of the beginning balance sheet date, based on changes in the use of observable and unobservable inputs utilized to perform the valuation for the period.

Investment Type (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Debt investments	$	—	$	—	$	346,056	$	346,056	$	—	$	—	$	375,025	$	375,025
Warrant investments	—		—		18,313		18,313		—		—		16,915		16,915
Equity investments	—		—		16,472		16,472		—		—		8,255		8,255
Total portfolio company investments	$	—	$	—	$	380,841	$	380,841	$	—	$	—	$	400,195	$	400,195
Derivative instruments(1)	—		(393)		—		(393)		—		(430)		—		(430)
Total investments, including derivative instruments	$	—	$	(393)	$	380,841	$	380,448	$	—	$	(430)	$	400,195	$	399,765

_______________

(1)Derivative instruments are carried at fair value and a level 2 security within the Company’s fair value hierarchy.

The following table shows information about Level 3 portfolio company investments measured at fair value for the nine months ended September 30, 2024 and 2023. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the net unrealized gains and losses for assets within the Level 3 category may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2024
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2023	$	375,026	$	16,913	$	8,257	$	400,196
Funding and purchases of investments, at cost	84,752		2,500		3,391		90,643
Principal payments and sale proceeds received from investments	(99,168)		(704)		—		(99,872)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,430		—		—		4,430
Realized losses on investments	(10,572)		(65)		—		(10,637)
Net change in unrealized gains (losses) included in earnings	(6,415)		(304)		9		(6,710)
Payment-in-kind coupon	2,791		—		—		2,791
Transfers between investments	(4,788)		(27)		4,815		—
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2024	$	346,056	$	18,313	$	16,472	$	380,841
Net change in unrealized losses on Level 3 investments held as of September 30, 2024	$	(8,076)	$	(22)	$	9	$	(8,089)

49

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2023
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2022	$	413,558	$	18,445	$	9,366	$	441,369
Funding and purchases of investments, at cost	72,064		1,772		780		74,616
Principal payments and sale proceeds received from investments	(67,533)		—		—		(67,533)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,663		—		—		4,663
Realized losses on investments	(18,083)		(1,176)		(500)		(19,759)
Net change in unrealized gains (losses) included in earnings	(6,828)		(1,756)		(561)		(9,145)
Payment-in-kind coupon	3,565		—		—		3,565
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2023	$	401,406	$	17,285	$	9,085	$	427,776
Net change in unrealized gains (losses) on Level 3 investments held as of September 30, 2023	$	(13,008)	$	(1,756)	$	(561)	$	(15,325)

_______________

(1)Transfers out of Level 3 are measured as of the date of the transfer. There were no transfers out of Level 3 during the nine months ended September 30, 2024 or the nine months ended September 30, 2023.

Realized gains and losses are included in “net realized losses on investments” in the consolidated statements of operations.

For the three months ended September 30, 2024 and 2023, the Company recognized net realized losses of $2.3 million and $0.2 million, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized net realized losses of $9.3 million and $18.7 million, respectively.

Unrealized gains and losses are included in “net change in unrealized losses on investments” in the consolidated statements of operations.

Net change in unrealized losses during the three months ended September 30, 2024 and 2023 totaled $2.8 million and $3.4 million, respectively, resulting primarily from market rate adjustments and foreign currency adjustments. Net change in unrealized losses for the nine months ended September 30, 2024 and 2023 totaled $6.7 million and $8.8 million, respectively.

The following tables show a summary of quantitative information about the Level 3 fair value measurements of portfolio company investments as of September 30, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the tables below, the Company may also use other valuation techniques and methodologies when determining fair value measurements.

Level 3 Investments (dollars in thousands)	September 30, 2024
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	338,366	Discounted Cash Flows	Discount Rate	11.43% - 42.44%	18.96%
	7,690		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	0.00% - 100.00%	80.77%
Warrant investments	18,313		Black Scholes Option Pricing Model	Revenue Multiples	0.40x - 56.90x	5.55x
				Volatility	35.00% - 85.00%	62.11%
				Term	0.50 - 5.50 Years	3.38 Years
				Risk Free Rate	0.17% - 4.87%	2.89%
Equity investments	16,472		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	57.67%
				Term	1.75 - 4.00 Years	3.11 Years
				Risk Free Rate	0.46% - 4.86%	3.31%
				Revenue Multiples	0.70x - 11.00x	2.38x
Total portfolio company investments	$	380,841

50

Level 3 Investments (dollars in thousands)	December 31, 2023
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	366,489	Discounted Cash Flows	Discount Rate	11.71% - 44.09%	19.76%
	8,536		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	30.00% - 100.00%	72.26%
Warrant investments	16,915		Black Scholes Option Pricing Model	Revenue Multiples	0.18x - 56.90x	6.91
				Volatility	45.00% - 90.00%	65.07%
				Term	0.50 - 5.50 Years	3.47 Years
				Risk Free Rate	0.17% - 5.03%	2.93%
Equity investments	8,255		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	59.60%
				Term	1.75 - 4.00 Years	3.28 Years
				Risk Free Rate	0.46% - 4.86%	3.04%
				Revenue Multiples	1.09x - 14.00x	4.94x
Total portfolio company investments	$	400,195

Increases or decreases in any of the above unobservable inputs in isolation would result in a lower or higher fair value measurement for such assets.

Derivative Instruments

The Company enters into forward currency contracts from time to time to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. The notional amounts as of September 30, 2024 and December 31, 2023, as shown in the Consolidated Schedule of Investments, are representative of the average volume throughout the nine months ended September 30, 2024 and year ended December 31, 2023, respectively. The following table shows a summary of the fair value and location of the Company’s derivative instruments in the Consolidated Statements of Assets and Liabilities held as of September 30, 2024 and December 31, 2023:

		Fair Value as of
Derivative Instrument	Statement Location	September 30, 2024		December 31, 2023
Foreign currency forward contracts	Other accrued expenses and liabilities	$	(393)	$	(430)
Foreign currency forward contracts	Prepaid expenses and other assets	—		—
Total		$	(393)	$	(430)

Net realized and unrealized gains and losses on derivative instruments recorded by the Company during nine months ended September 30, 2024 and 2023 are in the following locations in the Consolidated Statements of Operations:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Derivative Instrument	Statement Location	2024		2023		2024		2023
Foreign currency forward contracts	Net realized losses on investments	$	(302)	$	—	$	(518)	$	—
Foreign currency forward contracts	Net change in unrealized losses on investments	(330)		198		37		198
Total		$	(632)	$	198	$	(481)	$	198

Offsetting of Derivative Instruments

The Company has derivative instruments that are subject to master netting agreements. These agreements include provisions to offset positions with the same counterparty in the event of default by one of the parties. The Company’s unrealized appreciation and depreciation on derivative instruments are reported as gross assets and liabilities, respectively, in the consolidated balance sheets. The following tables show the Company’s assets and liabilities related to derivatives by counterparty, net of amounts available for offset under a master netting arrangement and net of any collateral received or pledged by the Company for such assets and liabilities as of September 30, 2024 and December 31, 2023:

	As of September 30, 2024
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

51

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(393)	$	—	$	—	$	—	$	(393)
Total	$	(393)	$	—	$	—	$	—	$	(393)

	As of December 31, 2023
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(430)	$	—	$	—	$	—	$	(430)
Total	$	(430)	$	—	$	—	$	—	$	(430)

_______________

(1)In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization.

(2)Net amount of derivative assets represents the net amount due from the counterparty to the Company.

(3)Net amount of derivative liabilities represents the net amount due from the Company to the counterparty.

Note 5. Credit Risk

Debt investments may be affected by business, financial market or legal uncertainties. Prices of investments may be volatile, and a variety of factors that are inherently difficult to predict, such as domestic, economic and political developments, may significantly affect the value of these investments. In addition, the value of these investments may fluctuate as the general level of interest rates fluctuates.

In many instances, the portfolio company’s ability to repay the debt investments is dependent on additional funding by its venture capital investors, a future sale or an initial public offering. The value of these investments may be detrimentally affected to the extent a borrower defaults on its obligations, there is insufficient collateral and/or there are extensive legal and other costs incurred in collecting on a defaulted loan.

Note 6. Borrowings

The following table shows the Company's outstanding debt as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024						December 31, 2023
	Total Commitment		Balance Outstanding		Unused Commitment		Total Commitment		Balance Outstanding		Unused Commitment
Revolving Credit Facility	$	250,000	$	80,500	$	169,500	$	250,000	$	87,500	$	162,500
2027 Notes	75,000		75,000		—		75,000		75,000		—
Total	$	325,000	$	155,500	$	169,500	$	325,000	$	162,500	$	162,500

Interest expense on these borrowings includes the interest cost charged on borrowings, the unused fee on the Credit Facility (as defined below), paying and administrative agent fees, and the amortization of deferred Credit Facility fees and expenses. These expenses are shown in the table below:

52

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Interest Expense and Amortization of Fees (in thousands)	2024		2023		2024		2023
Revolving Credit Facility
Interest cost	$	2,909	$	2,501	$	7,344	$	7,414
Unused fee	226		280		635		809
Amortization of costs and other fees	255		539		749		1,055
Revolving Credit Facility Total	$	3,390	$	3,320	$	8,728	$	9,278
2027 Notes
Interest cost	$	1,099	$	1,099	$	3,296	$	3,296
Amortization of costs and other fees	47		44		139		129
2027 Notes Total	$	1,146	$	1,143	$	3,435	$	3,425
Total interest expense and amortization of fees	$	4,536	$	4,463	$	12,163	$	12,703

Credit Facility

On July 15, 2020, the Company’s wholly-owned subsidiary, the Financing Subsidiary, as the borrower, entered into a secured revolving credit facility (as amended, the “Credit Facility”) pursuant to a Receivables Financing Agreement (the “Receivables Financing Agreement”), by and among the Financing Subsidiary, the Company, individually and as collateral manager and as equityholder, the lenders from time to time party thereto, Deutsche Bank AG, New York Branch (“DBNY”), as the facility agent, DBNY and MUFG Union Bank, N.A. (“MUFG”), as joint lead arrangers, Deutsche Bank Trust Company Americas, as paying agent and as collection account bank, the custodian party thereto, and Vervent Inc., as backup collateral manager. As of September 30, 2024, commitments available total $250.0 million from four lenders—DBNY, MUFG, KeyBank National Association (“KeyBank”) and TIAA, FSB—subject to an accordion feature, which allows the Financing Subsidiary to request an increase in the size of the Credit Facility to an amount not to exceed $400.0 million (including by adding additional lenders under the Credit Facility), subject to certain conditions and the consent of the lenders. The Credit Facility is collateralized by all of the assets of the Financing Subsidiary, including the loans and other investments acquired by the Financing Subsidiary from time to time and collections thereon.

The revolving period under the Credit Facility is scheduled to expire on July 15, 2025, subject to an extension with the consent of the lenders and early termination if an event of default occurs or other adverse events, specified in the Receivables Financing Agreement, occur. The scheduled maturity date for the Credit Facility is January 15, 2027, unless earlier terminated in accordance with the terms of the Receivables Financing Agreement. Advances are made under the Credit Facility pursuant to a borrowing base, which generally utilizes a 55% advance rate on the applicable net loan balance of assets held by the Financing Subsidiary, subject to excess concentrations and other restrictions set forth in the Receivables Financing Agreement. Advances under the Credit Facility accrue interest at a per annum rate equal to the applicable margin plus the greater of 3-month Term SOFR and 0.50% and are subject to certain minimum principal utilization amounts during the revolving period. As of September 30, 2024, the applicable margin is equal to 3.25% during the revolving period and increases to 4.25% during the amortization period.

The Credit Facility includes customary representations and warranties and requires the Company and the Financing Subsidiary to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Borrowings under the Credit Facility are subject to the leverage restrictions contained in the 1940 Act. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all covenants under the Credit Facility.

As of September 30, 2024 and December 31, 2023, the Company had outstanding borrowings under the Credit Facility of $80.5 million and $87.5 million, respectively, excluding deferred credit facility costs of $2.3 million and $3.0 million, respectively, which are included as assets in the Company’s consolidated statements of assets and liabilities. The book value of the Credit Facility approximates fair value due to the relatively short maturity, cash repayments and market interest rates of the instrument. The fair value of the Credit Facility would be categorized as Level 3 in the fair value hierarchy if determined as of the reporting date. During the three months ended September 30, 2024 and 2023, the Company had average outstanding borrowings under the Credit Facility of $72.8 million and $103.9 million, respectively, at a weighted average interest rate of 8.45% and 8.59%, respectively. During the nine months ended September 30, 2024 and 2023, the Company had average outstanding borrowings under the Credit Facility of $82.8 million and $107.8 million, respectively, at a weighted average interest rate of 8.53% and 8.24%, respectively. As of September 30, 2024 and December 31, 2023, $237.9 million and $255.0 million, respectively, of the Company’s assets were pledged for borrowings under the Credit Facility.

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2027 Notes

On April 6, 2022, the Company issued $75.0 million in aggregate principal amount of senior unsecured notes due April 2027 with a fixed interest rate of 5.86% per year (the “2027 Notes”). The 2027 Notes were issued in a private placement to certain qualified institutional investors, pursuant to the terms of the Master Note Purchase Agreement, dated as of April 6, 2022 (the “Note Purchase Agreement”). The 2027 Notes will mature on April 6, 2027, unless redeemed, purchased or prepaid prior to such date in accordance with their terms. In the event that a Below Investment Grade Event (as defined in the Note Purchase Agreement) occurs, the 2027 Notes will bear interest at a fixed rate of 6.86% per year from the date of the occurrence of the Below Investment Grade Event to and until the date on which the Below Investment Grade Event is no longer continuing.

Interest on the 2027 Notes is due semiannually on April 6 and October 6 each year, beginning on October 6, 2022. The 2027 Notes may be redeemed in whole or in part at any time or from time to time at the Company’s option at par plus accrued interest to the prepayment date and, if applicable, a make-whole premium. In addition, the Company is obligated to offer to prepay the 2027 Notes at par plus accrued and unpaid interest up to, but excluding, the date of prepayment, if certain change in control events occur. The 2027 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company; provided however, in the event that the Company creates, incurs, assumes or permits to exist liens on or with respect to any of its property or assets in connection with future secured indebtedness of more than an aggregate principal amount of $25 million, the 2027 Notes will generally become secured concurrently therewith, equally and ratably with such indebtedness.

The Note Purchase Agreement contains customary terms and conditions for senior unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants such as information reporting, maintenance of the Company’s status as a business development company within the meaning of the 1940 Act, a minimum asset coverage ratio of 1.50 to 1.00, a minimum interest coverage ratio of 1.25 to 1.00, and minimum stockholders’ equity of $142.8 million, as adjusted upward by an amount equal to 65% of the net proceeds from the issuance of shares of the Company’s common stock subsequent to December 31, 2021. The Note Purchase Agreement also contains customary events of default with customary cure and notice periods, including, without limitation, nonpayment, incorrect representation in any material respect, breach of covenant, cross-default under other indebtedness of the Company or subsidiary guarantors, certain judgments and orders, certain events of bankruptcy, and breach of a key man clause relating to the Company’s Chief Executive Officer, James P. Labe, and the Company’s President and Chief Investment Officer, Sajal K. Srivastava. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all covenants under the 2027 Notes.

The 2027 Notes are recorded at amortized cost in the consolidated statements of assets and liabilities. Amortized cost includes $0.5 million and $0.6 million of deferred issuance cost as of September 30, 2024 and December 31, 2023, respectively, which is amortized and expensed over the five-year term of the 2027 Notes based on an effective yield method. As of September 30, 2024 and December 31, 2023, the fair value of the 2027 Notes was $74.0 million and $71.3 million, respectively, and would be categorized as Level 3 of the fair value hierarchy if determined as of the reporting date.

The following table shows additional information about the level in the fair value hierarchy of the Company’s liabilities as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Credit Facility	$	—	$	—	$	80,500	$	80,500	$	—	$	—	$	87,500	$	87,500
2027 Notes	—		—		73,993		73,993		—		—		71,333		71,333
Total	$	—	$	—	$	154,493	$	154,493	$	—	$	—	$	158,833	$	158,833

Note 7. Commitments and Contingencies

Commitments

As of September 30, 2024 and December 31, 2023, the Company’s unfunded commitments totaled $63.9 million to 21 portfolio companies and $72.2 million to 25 portfolio companies, respectively, of which $44,000 and $6.3 million, respectively, were dependent upon the applicable portfolio company reaching certain milestones before the debt commitment becomes available to them.

The Company’s credit agreements contain customary lending provisions that allow it relief from funding obligations for previously made commitments in instances where the underlying company experiences material adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.

54

The following table shows the Company’s unfunded commitments by portfolio company as of September 30, 2024 and December 31, 2023:

	September 30, 2024				December 31, 2023
Unfunded Commitments(1) (in thousands)	Unfunded Commitments		Fair Value of Unfunded Commitment Liability		Unfunded Commitments		Fair Value of Unfunded Commitment Liability
Activehours, Inc.	$	10,000	$	41	$	10,000	$	—
Etched.ai, Inc.	10,000		350		—		—
Luxury Presence, Inc.	7,000		74		6,000		65
Karat Financial Technologies, Inc.	6,719		84		6,719		84
Cresta Intelligence, Inc.	5,000		16		—		—
Thoughtful Automation, Inc.	4,061		39		—		—
Haven Energy Inc.	2,700		14		—		—
Headout Inc.	2,649		20		—		—
Earth Funeral Group, Inc.	2,570		66		—		—
Planet A Foods GmbH	2,232		43		—		—
Panorama Education, Inc.	2,140		2		—		—
Join Digital, Inc.	2,100		41		—		—
Ocrolus Inc.	1,714		22		—		—
Overtime Sports, Inc.	1,143		8		1,143		8
Hover Inc.	1,000		14		—		—
Quantum Circuits, Inc.	1,000		10		—		—
Mirelo AI GmbH	926		18
Idelic, Inc.	400		4		1,200		7
Worldwide Freight Logistics Ltd.	268		4		345		10
Flashparking, Inc.	250		1		—		—
Ephemeral Solutions, Inc.	44		1		—		—
Dance GmbH	—		8		—		—
Encore Music Technologies, Inc.	—		2		—		1
Perry Health, Inc.	—		—		8,000		97
Ever/Body Inc.	—		—		6,200		102
Prose Beauty, Inc.	—		—		6,000		215
Machinify, Inc.	—		—		5,000		58
Placemakr, Inc.	—		—		5,000		168
JOKR	—		—		3,748		238
Parsable, Inc.	—		—		2,667		37
Firemaps, Inc.	—		—		2,000		43
FireHydrant, Inc.	—		—		1,200		29
McN Investments Ltd.	—		—		1,000		5
Pair Eyewear, Inc.	—		—		1,000		10
Substack, Inc.	—		—		1,000		13
Tempus Ex Machina, Inc.	—		—		1,000		—
Virtual Facility, Inc.	—		—		1,000		—
Highbeam, Inc.	—		—		813		10
Construction Finance Corporation	—		—		575		10
OnSiteIQ, Inc.	—		—		334		5
Forum Brands, LLC	—		—		147		5
Allplants LTD	—		—		102		4
Total	$	63,916	$	882	$	72,193	$	1,224

_______________

(1)As of September 30, 2024 and December 31, 2023, the Company did not have any backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

The fair value at the inception of the delay draw credit agreements is equal to the fees and warrants received to enter into these agreements, taking into account the remaining terms of the agreements and the counterparties’ credit profile. The unfunded commitment liability reflects the fair value of these future funding commitments and is included in “Other accrued expenses and liabilities” in the Company’s consolidated statements of assets and liabilities.

55

These liabilities are considered Level 3 liabilities under ASC Topic 820 as there is no known or accessible market or market indices for these types of financial instruments. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. The following table shows additional details regarding the Company's unfunded commitment activity for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Commitments Activity (in thousands)	2024		2023		2024		2023
Unfunded commitments at beginning of period(1)	$	58,223	$	88,138	$	72,193	$	142,102
New commitments(1)	42,674		33,735		111,113		102,954
Fundings	(26,071)		(13,393)		(87,674)		(73,358)
Repayments under existing revolvers	—		10,874		—		11,116
Expirations / Terminations	(10,979)		(15,530)		(31,781)		(79,136)
Foreign currency adjustments	69		(24)		65		122
Unfunded commitments and backlog of potential future commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800
Backlog of potential future commitments	—		—		—		—
Unfunded commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800

_______________

(1)Includes backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

The following table shows additional information on the Company’s unfunded commitments regarding milestones and expirations as of September 30, 2024 and December 31, 2023:

Unfunded Commitments(1) (in thousands)	September 30, 2024		December 31, 2023
Dependent on milestones	$	44	$	6,300
Expiring during:
2024	20,431		64,331
2025	33,095		7,862
2026	10,390		—
Unfunded commitments	$	63,916	$	72,193

_______________

(1)Does not include backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

Backlog of Potential Future Commitments

The Company may enter into commitments with certain portfolio companies that permit an increase in the commitment amount in the future in the event that certain conditions to make such increases are met. If such conditions to increase are met, these amounts may become unfunded commitments, if not drawn prior to expiration. As of September 30, 2024 and December 31, 2023, the Company did not have any backlog of potential future commitments.

Note 8. Financial Highlights

The following table shows the financial highlights for the nine months ended September 30, 2024 and 2023:

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	For the Nine Months Ended September 30,
Financial Highlights (in thousands, except share and per share data)	2024			2023
Per Share Data(1)
Net asset value at beginning of period	$	12.24		$	14.00
Changes in net asset value due to:
Net investment income	1.15			1.61
Net realized gains/(losses) on investments	(0.39)			(0.92)
Net change in unrealized losses on investments	(0.28)			(0.44)
Distributions to common shareholders	(0.88)			(0.84)
Net asset value at end of period	$	11.84		$	13.41
Net investment income per common share	1.15			$	1.61
Net increase in net assets resulting from operations per common share	$	0.48		$	0.25
Weighted average shares of common stock outstanding for period	23,689,363			20,297,200
Shares of common stock outstanding at end of period	23,689,363			20,297,200
Ratios / Supplemental Data(2)
Net asset value at end of period	$	281,015		$	272,654
Average net asset value	$	288,786		$	284,094
Total return based on net asset value per share(3)	3.9		%	1.8		%
Net investment income to average net asset value(4)	12.7		%	15.4		%
Net increase in net assets to average net asset value(4)	5.3		%	2.4		%
Ratio of expenses to average net asset value(4)	9.6		%	9.7		%
Operating expenses excluding incentive fees to average net asset value(4)	9.6		%	9.7		%

_____________

(1)All per share activity is calculated based on the weighted average common shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.

(2)NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity.

(3)Total return based on NAV is the change in ending NAV per common share plus distributions per common share paid during the period by the beginning NAV per common share. Total return does not reflect sales charges that may be incurred by stockholders. The total return is for the period presented and is not annualized.

(4)Percentage is presented on an annualized basis.

The following table shows the weighted average portfolio yield on debt investments for the nine months ended September 30, 2024 and 2023:

	For the Nine Months Ended September 30,
Ratios (Percentages, on an annualized basis)(1)	2024		2023
Weighted average portfolio yield on debt investments(2)	15.4	%	16.4	%
Coupon income	11.7	%	12.7	%
Accretion of discount	1.1	%	1.3	%
Accretion of end-of-term payments	1.7	%	1.9	%
Impact of prepayments during the period	0.9	%	0.5	%

_____________

(1)Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.

(2)The weighted average portfolio yields on debt investments reflected above do not represent actual investment returns to the Company's shareholders.

Note 9. Net Increase in Net Assets per Share

The following table shows the computation of basic and diluted net increase (decrease) in net assets per common share for the periods presented:

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	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Basic and Diluted Share Information (in thousands, except share and per share data)	2024		2023		2024		2023
Net investment income	$	8,054	$	10,326	$	27,361	$	32,655
Net increase (decrease) in net assets resulting from operations	2,931		$	6,798	11,367		5,116
Basic and diluted weighted average shares of common stock outstanding	23,689,363		20,297,200		23,689,363		20,297,200
Basic and diluted net investment income per share of common stock	$	0.34	$	0.51	$	1.15	$	1.61
Basic and diluted net increase (decrease) in net assets resulting from operations per share of common stock	$	0.12	$	0.33	$	0.48	$	0.25

Note 10.    Equity

During each of the three and nine months ended September 30, 2024 and 2023, the Company did not issue any shares of common stock through the Company’s private placement offering.

As of both September 30, 2024 and December 31, 2023, the Company had 23,689,363 shares of common stock outstanding. As of both September 30, 2024 and December 31, 2023, the Company had 525 shares of its Series A Preferred Stock outstanding.

As of September 30, 2024, the Company had received capital commitments totaling $386.8 million, of which $354.7 million had been funded, with the Company’s stockholders released from funding obligations for any remaining undrawn capital commitments effective upon the expiration of the Company’s investment period in December 2023, subject to limited exceptions set forth in the stockholders’ subscription agreements with the Company.

Note 11. Common Distributions

The Company has elected to be treated, and intends to comply with the requirements to continue to qualify annually, as a RIC under the Code. In order to maintain its ability to be subject to tax as a RIC, among other things, the Company is required to distribute at least 90% of its net ordinary income and net realized short-term capital gains in excess of its net realized long-term capital losses, if any, to its shareholders. Additionally, to avoid a nondeductible 4% U.S. federal excise tax on certain of the Company’s undistributed income, the Company must distribute during each calendar year an amount at least equal to the sum of: (a) 98% of the Company’s ordinary income (not taking into account any capital gains or losses) for such calendar year; (b) 98.2% of the amount by which the Company’s capital gains exceed the Company’s capital losses (adjusted for certain ordinary losses) for a one-year period ending on October 31 of the calendar year (unless an election is made by the Company to use its taxable year); and (c) certain undistributed amounts from previous years on which the Company paid no U.S. federal income tax.

For the tax years ended December 31, 2023 and 2022, the Company was subject to a 4% U.S. federal excise tax, and the Company may be subject to this tax in future years. In such cases, the Company is liable for the tax only on the amount by which the Company does not meet the foregoing distribution requirement. The character of income and gains that the Company distributes is determined in accordance with U.S. income tax regulations that may differ from GAAP. Book and tax basis differences relating to stockholder dividends and distributions and other permanent book and tax differences are reclassified to paid-in capital. The Company incurred a non-deductible U.S. federal excise tax of $0.6 million and $0.3 million for the years ended December 31, 2023 and 2022, respectively.

The following table shows the Company’s cash distributions per common share that have been authorized by the Board since commencement of operations to September 30, 2024:

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Date Declared	Record Date	Payment Date	Per Share Amount
November 12, 2020	November 13, 2020	November 20, 2020	$	0.15
December 21, 2020	December 22, 2020	December 30, 2020	0.30
December 21, 2020	December 22, 2020	December 30, 2020	0.14		(1)
May 12, 2021	May 13, 2021	May 19, 2021	0.30
August 11, 2021	August 13, 2021	August 27, 2021	0.30
October 29, 2021	November 1, 2021	November 12, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.10		(2)
April 28, 2022	May 13, 2022	May 19, 2022	0.33
July 26, 2022	August 5, 2022	August 26, 2022	0.40
October 28, 2022	November 1, 2022	November 11, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.10		(2)
April 27, 2023	May 12, 2023	May 19, 2023	0.42
July 27, 2023	August 4, 2023	August 25, 2023	0.42
October 27, 2023	October 30, 2023	November 15, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.12		(2)
April 25, 2024	April 29, 2024	May 17, 2024	0.47
August 1, 2024	August 5, 2024	August 23, 2024	0.41
		Total cash distributions	$	6.30

_____________

(1)Represents a special distribution sourced from net realized short-term capital gains.

(2)Represents a special distribution sourced from net investment income.

It is the Company’s intention to distribute all or substantially all of its taxable income earned over the course of the year; thus, no provision for income tax has been recorded in the Company’s consolidated statements of operations during the three and nine months ended September 30, 2024. However, the Company may choose not to distribute all of its taxable income for a number of reasons, including retaining excess taxable income for investment purposes and/or defer the payment of distributions associated with the excess taxable income for future calendar years.

Note 12. Subsequent Events

Distribution

On October 31, 2024, the Board declared a $0.41 per share distribution to the Company’s common stockholders, payable on November 15, 2024 to stockholders of record on November 1, 2024.

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Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

The information contained in this section should be read in conjunction with our consolidated financial statements and related notes and schedules thereto appearing elsewhere in this Quarterly Report on Form 10-Q. Except as otherwise specified, references to “the Company”, “we”, “us”, and “our” refer to TriplePoint Private Venture Credit Inc. and its subsidiaries.

This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained in this Quarterly Report on Form 10-Q include statements as to:

•our and our portfolio companies’ future operating results and financial condition, including our and our portfolio companies’ ability to achieve our respective objectives;

•our business prospects and the prospects of our portfolio companies;

•our relationships with third parties, including but not limited to lenders and venture capital investors, including other investors in our portfolio companies;

•the impact and timing of our unfunded commitments;

•the expected market for venture capital investments;

•the performance of our existing portfolio and other investments we may make in the future;

•the impact of investments that we expect to make;

•actual and potential conflicts of interest with TPC, the Adviser and its senior investment team and Investment Committee;

•our contractual arrangements and relationships with third parties;

•the dependence of our future success on the U.S. and global economies, including with respect to the industries in which we invest;

•our expected financings and investments;

•the ability of the Adviser to locate suitable investments for us and to monitor and administer our investments;

•the ability of our Adviser to attract, retain and have access to highly talented professionals, including our Adviser’s senior management team;

•our ability to maintain our qualification as a RIC and as a BDC;

•the adequacy of our and our portfolio companies’ available liquidity, cash resources, including our undrawn capital commitments from investors and the ability of our investors to fulfill their obligations under their respective subscription agreements, and working capital and compliance with covenants under our borrowing arrangements;

•the ability of our portfolio companies to obtain financing on attractive terms or at all;

•the timing of cash flows, if any, from the operations of our portfolio companies; and

•the declaration, payment, amount and/or timing of future dividends or distributions.

These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•changes in laws and regulations, changes in political, economic or industry conditions, and changes in the interest rate environment or other conditions affecting the financial and capital markets;

•the potential widespread re-emergence of COVID-19 or its variants, or a similar health pandemic, and the length and duration thereof in the United States as well as worldwide, and the magnitude of its impact and time required for economic recovery;

•the potential for an economic downturn and the time period required for robust economic recovery therefrom;

•a contraction of available credit, an inability or unwillingness of our lenders to fund their commitments to us and/or an inability to access capital markets or additional sources of liquidity could have a material adverse effect on our results of operations and financial condition and impair our lending and investment activities;

•interest rate volatility could adversely affect our results, particularly given that we use leverage as part of our investment strategy;

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•currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars;

•risks associated with possible disruption in our or our portfolio companies’ operations due to the effect of, and uncertainties stemming from, adverse developments affecting the financial services industry and the venture banking ecosystem, including the potential for the failure of additional banking institutions, as well as due to wars and other forms of conflict, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics; and

•the risks, uncertainties and other factors we identify in “Risk Factors” in this Quarterly Report on Form 10-Q, in our most recent Annual Report on Form 10-K under Part I, Item 1A, and in our other filings with the SEC that we make from time to time.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. Important assumptions include, without limitation, our ability to originate new loans and investments, borrowing costs and levels of profitability and the availability of additional capital. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this Quarterly Report on Form 10-Q should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Quarterly Report on Form 10-Q.

Overview

We are an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a BDC under the 1940 Act. We have elected to be treated, and intend to qualify annually, as a RIC under Subchapter M of the Code for U.S. federal income tax purposes.

We were formed in October 2019 to capitalize on the strong worldwide demand from venture capital-backed companies for debt financing originated by the TPC global investment platform and commenced investment operations on May 27, 2020. We participate in and benefit from TPC’s multi-stage Lifespan Approach by lending to early, later, and venture growth stage companies focused in technology and other high growth industries that are backed by TPC’s select group of leading venture capital investors and generally have a global business strategy and products or services that appeal to customers and consumers worldwide. We generally view high growth industries as industries which experience a higher than average growth rate as compared to others as a result of demand for new products or services offered by companies in these industries. It is this demand and the potential global addressable market for their products or services that makes them attractive to venture capital investment and therefore attractive lending candidates for us.

Our investment objective is to maximize our total return to shareholders primarily in the form of current income from our secured loans, and secondarily through capital gains from equity “kickers” in the form of warrants and direct equity investments.

Portfolio Composition, Investment Activity and Asset Quality

Portfolio Composition

We originate and invest primarily in loans that have a secured collateral position and are used by venture capital-backed companies to finance their continued expansion and growth, and, on a select basis, equipment financings and revolving loans, together with, in many cases, attached equity “kickers” in the form of warrant investments, and direct equity investments. We believe these investments will provide us with a stable, fixed-income revenue stream along with the potential for our returns to be enhanced by equity-related gains. We underwrite our investments seeking an unlevered yield-to-maturity on our growth capital loans and equipment financings generally ranging from 10% to 18% and on our revolving loans generally ranging from 1% to 10% above the applicable prime rate, in each case, with potential for higher returns in the event we are able to exercise warrant investments and realize gains or sell our related equity investments at a profit. We make investments that our Adviser’s senior investment team believes have a low probability of loss due to their expertise and either the existence of or the near-term potential for strong revenue or revenue growth, product validation, customer commitments, intellectual property, financial condition and enterprise value of the potential opportunity. The Adviser’s senior investment team also generally seeks to invest no more than 5% of our total assets in equity investments.

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The following tables show certain information relating to the composition of our portfolio as of September 30, 2024 and December 31, 2023:

	September 30, 2024
Investments by Type (dollars in thousands)	Cost		Fair Value		Net Unrealized Gains (Losses)		Number of Investments	Number of Companies
Debt investments	$	361,017	$	346,056	$	(14,961)	222	80
Warrant investments	15,122		18,313		3,191		202	145
Equity investments	17,651		16,472		(1,179)		68	54
Total investments in portfolio companies	$	393,790	$	380,841	$	(12,949)	492	161	(1)

_______________

(1)Represents non-duplicative number of companies.

	December 31, 2023
Investments by Type (dollars in thousands)	Cost		Fair Value		Net Unrealized Gains (Losses)		Number of Investments	Number of Companies
Debt investments	$	383,570	$	375,025	$	(8,545)	228	83
Warrant investments	13,419		16,915		3,496		183	144
Equity investments	9,444		8,255		(1,189)		56	44
Total investments in portfolio companies	$	406,433	$	400,195	$	(6,238)	467	157	(1)

_______________

(1)Represents non-duplicative number of companies.

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The following tables show the fair value of the portfolio of investments, by industry and the percentage of the total investment portfolio, as of September 30, 2024 and December 31, 2023:

	September 30, 2024
Investments in Portfolio Companies by Industry (dollars in thousands)	At Fair Value		Percentage of Total Investments
Consumer Products and Services	$	80,640	21.2	%
Business/Productivity Software	32,525		8.5
E-Commerce - Clothing and Accessories	28,693		7.5
Real Estate Services	26,246		6.9
Business Products and Services	23,917		6.3
Business Applications Software	22,035		5.8
E-Commerce - Personal Goods	19,760		5.2
Healthcare Services	16,883		4.4
Healthcare Technology Systems	14,800		3.9
Financial Software	9,992		2.6
Information Services (B2C)	9,419		2.5
Computer Hardware	9,373		2.5
Consumer Non-Durables	9,035		2.4
Infrastructure	8,849		2.3
Energy	8,515		2.2
Other Financial Services	7,937		2.1
Social/Platform Software	6,833		1.8
Network Management Software	5,708		1.5
Communications and Networking	4,933		1.3
Human Capital Services	4,414		1.2
Multimedia and Design Software	4,265		1.1
Aerospace and Defense	3,984		1.0
Entertainment Software	3,908		1.0
Educational Software	3,145		0.8
Food Products	2,722		0.7
Medical Software and Information Services	2,578		0.7
Application Software	2,492		0.7
Environmental Services	1,480		0.4
Life and Health Insurance	1,278		0.3
Business to Business Marketplace	880		0.2
Consumer Finance	761		0.2
Information Technology	750		0.2
Software Development Applications	735		0.2
Database Software	504		0.1
Elder and Disabled Care	486		0.1
Financial Services	150		*
General Media and Content	105		*
Communication Software	54		*
Logistics	51		*
Commercial Services	6		*
Cultivation	—		*
Home Furnishings	—		*
Household Products	—		*
Total portfolio company investments	$	380,841	100.0	%

_______________

*Amount represents less than 0.05% of total investments at fair value.

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	December 31, 2023
Investments in Portfolio Companies by Industry (dollars in thousands)	At Fair Value		Percentage of Total Investments
Consumer Products and Services	$	57,610	14.4	%
Real Estate Services	38,416		9.6
E-Commerce - Clothing and Accessories	35,449		8.9
Business Products and Services	33,509		8.4
Business Applications Software	30,910		7.7
Business/Productivity Software	30,573		7.6
E-Commerce - Personal Goods	28,177		7.0
Healthcare Technology Systems	20,151		5.0
Energy	14,984		3.7
Life and Health Insurance	9,558		2.4
Information Services (B2C)	9,306		2.3
Healthcare Services	9,078		2.3
Other Financial Services	8,591		2.1
Infrastructure	8,487		2.1
Computer Hardware	8,143		2.0
Social/Platform Software	7,508		1.9
Multimedia and Design Software	6,572		1.6
Financial Software	5,846		1.5
Application Software	5,290		1.3
Network Management Software	5,133		1.3
Aerospace and Defense	4,523		1.1
Human Capital Services	4,380		1.1
Entertainment Software	4,044		1.0
Consumer Non-Durables	3,450		0.9
Food Products	2,488		0.6
Medical Software and Information Services	2,434		0.6
Consumer Finance	1,756		0.4
Cultivation	1,317		0.3
Business to Business Marketplace	880		0.2
Software Development Applications	526		0.1
Elder and Disabled Care	486		0.1
Database Software	254		0.1
Financial Services	150		*
General Media and Content	105		*
Communication Software	54		*
Logistics	51		*
Commercial Services	6		*
Household Products	—		*
Total portfolio company investments	$	400,195	100.0	%

_____________

*Amount represents less than 0.05% of total investments at fair value.

The following table shows the financing product type of our debt investments as of September 30, 2024 and December 31, 2023:

	September 30, 2024				December 31, 2023
Debt Investments By Financing Product (dollars in thousands)	Fair Value		Percentage of Total Debt Investments		Fair Value		Percentage of Total Debt Investments
Growth capital loans	$	325,230	94.0	%	$	350,862	93.5	%
Revolver loans	19,729		5.7		23,078		6.2
Convertible notes	1,097		0.3		1,085		0.3
Total debt investments	$	346,056	100.0	%	$	375,025	100.0	%

Growth capital loans in which the borrower held a term loan facility with another lender, with or without an accompanying revolving loan, in priority to our senior lien represented 15.5% and 24.3% of our debt investments at fair value as of September 30, 2024 and December 31, 2023, respectively.

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Investment Activity

During the three months ended September 30, 2024, we entered into debt commitments with 5 new and 10 existing portfolio companies totaling $42.7 million, funded debt investments to 9 portfolio companies for $26.2 million in principal value, acquired warrant investments representing $0.5 million of fair value and made direct equity investments of $1.5 million. Debt investments funded during the three months ended September 30, 2024 carried a weighted average annualized portfolio yield of 14.5% at origination.

During the three months ended September 30, 2023, we entered into debt commitments with 5 new and 6 existing portfolio companies totaling $33.7 million, funded debt investments to 11 portfolio companies for $13.4 million in principal value and acquired warrant investments representing $0.7 million of fair value. Debt investments funded during the three months ended September 30, 2023 carried a weighted average annualized portfolio yield of 15.2% at origination.

During the nine months ended September 30, 2024, we entered into debt commitments with 11 new portfolio companies and 14 existing portfolio companies totaling $111.1 million, funded debt investments to 30 portfolio companies for $88.4 million in principal value, acquired warrant investments representing $2.5 million of fair value, and made direct equity investments of $3.4 million. Debt investments funded during the nine months ended September 30, 2024 carried a weighted average annualized portfolio yield of 15.7% at origination.

During the nine months ended September 30, 2023, we entered into debt commitments with 14 new portfolio companies and 13 existing portfolio companies totaling $103.0 million, funded debt investments to 35 portfolio companies for $74.2 million in principal value, acquired warrant investments representing $1.8 million of fair value, and made direct equity investments of $0.8 million. Debt investments funded during the nine months ended September 30, 2023 carried a weighted average annualized portfolio yield of 15.4%1 at origination.

During the three months ended September 30, 2024, we received $10.0 million of principal prepayments and early repayments from 2 portfolio companies and $15.9 million of scheduled principal amortization. During the three months ended September 30, 2023, we received $14.0 million of principal prepayments and early repayments from 5 portfolio companies and $19.1 million of scheduled principal amortization.

During the nine months ended September 30, 2024, we received $49.9 million of principal prepayments and early repayments from 16 portfolio companies and $42.5 million of scheduled principal amortization. During the nine months ended September 30, 2023, we received $39.1 million of principal prepayments and early repayments from 12 portfolio companies and $28.5 million of scheduled principal amortization.

The following table shows the total portfolio investment activity for the three and nine months ended September 30, 2024 and 2023:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Beginning portfolio at fair value	$	382,206	$	448,085	$	400,195	$	441,376
New debt investments, net(1)	25,411		13,008		84,752		72,064
Scheduled principal amortization	(15,870)		(19,121)		(42,526)		(28,462)
Principal prepayments and early repayments	(10,000)		(14,000)		(49,898)		(39,071)
Accretion of debt investment fees	1,430		968		4,432		4,663
Payment-in-kind coupon	952		1,786		2,791		3,565
New warrant investments	542		691		2,500		1,772
New equity investments	1,450		—		3,392		780
Proceeds and dispositions from investments	(700)		—		(9,147)		—
Net realized losses	(2,129)		(89)		(8,940)		(19,874)
Net unrealized losses on investments	(2,451)		(3,551)		(6,710)		(9,036)
Ending portfolio at fair value	$	380,841	$	427,777	$	380,841	$	427,777

_______________

(1)Debt balance is net of fees and discounts applied to the loan at origination.

Our level of investment activity can vary substantially from period to period as our Adviser chooses to slow or accelerate new business originations depending on market conditions, rate of investment of TPC’s select group of leading venture capital investors, our Adviser’s knowledge, expertise and experience, our funding capacity (including availability under our Credit Facility and our ability or inability to raise equity or debt capital), the amount of our outstanding unfunded commitments and other market dynamics.

1 This yield excludes the impact of $1.4 million in short-term loans that were funded and repaid during the three months ended March 31, 2023, which carried a higher interest rate than our normal course investments, and the impact thereof on our weighted average adjusted annualized yield at origination for the period.

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The following table shows the debt commitments and fundings of debt investments (principal balance) and equity investments for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Commitments and Fundings (in thousands)	2024		2023		2024		2023
Debt Commitments
New portfolio companies	$	19,603	$	26,000	$	52,625	$	61,750
Existing portfolio companies	15,324		7,735		60,740		41,204
Total(1)	$	34,927	$	33,735	$	113,365	$	102,954
Funded Debt Investments	$	26,203	$	13,393	$	88,440	$	74,194
Equity Investments	$	1,450	$	—	$	3,392	$	287

_______________

(1)Includes backlog of potential future commitments.

We may enter into commitments with certain portfolio companies that permit an increase in the commitment amount in the future in the event that conditions to such increases are met (“backlog of potential future commitments”). If such conditions to increase are met, these amounts may become unfunded commitments if not drawn prior to expiration. As of September 30, 2024 and December 31, 2023, we did not have any backlog of potential future commitments.

Asset Quality

Consistent with TPC’s existing policies, our Adviser maintains a credit watch list which places borrowers into five risk categories based on our Adviser’s senior investment team’s judgment, where 1 is the best rating and all new loans are generally assigned a rating of 2.

Category	Category Definition	Action Item
Clear (1)	Performing above expectations and/or strong financial or enterprise profile, value or coverage.	Review quarterly.
White (2)	Performing at expectations and/or reasonably close to it. Reasonable financial or enterprise profile, value or coverage. Generally, all new loans are initially graded White.	Contact portfolio company periodically in no event less than quarterly.
Yellow (3)	Performing generally below expectations and/or some proactive concern due to industry, business, financial and/or related factors. Adequate financial or enterprise profile, value or coverage.	Contact portfolio company monthly or more frequently as determined by our Adviser’s Investment Committee; contact venture capital investors.
Orange (4)	Needs close attention due to performance materially below expectations, weak financial and/or enterprise profile, concern regarding additional capital or exit equivalent.	Contact portfolio company weekly or more frequently as determined by our Adviser’s Investment Committee; contact venture capital investors regularly; our Adviser forms a workout group to minimize risk of loss.
Red (5)	Serious concern/trouble due to pending or actual default or equivalent. May experience partial and/or full loss.	Maximize value from assets.

The following table shows the credit rankings for the portfolio companies that had outstanding debt obligations to us as of September 30, 2024 and December 31, 2023:

	September 30, 2024					December 31, 2023
Credit Category (dollars in thousands)	Fair Value		Percentage of Total Debt Investments		Number of Portfolio Companies	Fair Value		Percentage of Total Debt Investments		Number of Portfolio Companies
Clear (1)	$	32,724	9.5	%	5	$	47,036	12.5	%	9
White (2)	264,561		76.4		55	281,114		75.0		54
Yellow (3)	43,596		12.6		11	38,936		10.4		12
Orange (4)	4,996		1.4		6	7,788		2.1		7
Red (5)	179		0.1		3	151		—		1
Total	$	346,056	100.0	%	80	$	375,025	100.0	%	83

As of September 30, 2024 and December 31, 2023, the weighted average credit ranking of our debt investment portfolio was 2.06 and 2.02, respectively. During the three months ended September 30, 2024, portfolio company credit category changes, excluding fundings and repayments, consisted of the following: one portfolio company with a principal balance of $1.0 million was upgraded from White (2) to Clear (1), one portfolio company with a principal balance of $1.5 million was upgraded from Yellow (3) to White (2), one portfolio company with a principal balance of $2.7 million was upgraded from Orange (4) to Yellow (3), two portfolio companies with an aggregate principal balance of $13.3 million was downgraded from Clear (1) to White (2), one portfolio company with a principal balance of $1.3 million was downgraded from Yellow (3) to Red (5) and one portfolio company with a principal balance of $4.3 million was downgraded from Orange (4) to Red (5).

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As of September 30, 2024, we had investments in 10 portfolio companies that were on non-accrual status, with an aggregate cost and fair value of $22.7 million and $11.9 million, respectively. As of December 31, 2023, we had investments in 11 portfolio companies that were on non-accrual status, with an aggregate cost and fair value of $19.9 million and $15.1 million, respectively.

Results of Operations

An important measure of our financial performance is net increase (decrease) in net assets resulting from operations, which includes net investment income (loss), net realized gains (losses) and net unrealized gains (losses). Net investment income (loss) is the difference between our income from interest, dividends, fees and other investment income and our operating expenses, including interest on borrowed funds. Net realized gains (losses) on investments is the difference between the proceeds received from dispositions of portfolio investments and their amortized cost. Net unrealized gains (losses) on investments is the net change in the fair value of our investment portfolio.

For the three months ended September 30, 2024 and 2023, our net increase in net assets resulting from operations was $2.9 million and $6.8 million, respectively, which was comprised of $8.1 million and $10.3 million, respectively, of net investment income and $5.1 million and $3.5 million of net realized and unrealized losses, respectively. On a per common share basis for the three months ended September 30, 2024 and 2023, net investment income was $0.34 and $0.51, respectively, and our net increase in net assets from operations was $0.12 and $0.33, respectively.

For the nine months ended September 30, 2024 and 2023, our net increase in net assets resulting from operations was $11.4 million and $5.1 million, respectively, which was comprised of $27.4 million and $32.7 million, respectively, of net investment income and $16.0 million and $27.5 million of net realized and unrealized losses, respectively. On a per common share basis for the nine months ended September 30, 2024 and 2023, net investment income was $1.15 and $1.61, respectively, and our net increase in net assets from operations was $0.48 and $0.25, respectively.

Investment Income

Total investment and other income for the three and nine months ended September 30, 2024 was $15.4 million and $48.2 million, respectively. Total investment and other income for the three and nine months ended September 30, 2023 was $18.0 million and $53.4 million, respectively.

The decrease in total investment and other income for the three and nine months ended September 30, 2024, compared to the three and nine months ended September 30, 2023, is due to a lower weighted average principal amount outstanding on our income-bearing debt investment portfolio and a lower weighted average portfolio yield on our income-bearing debt investment portfolio.

Operating Expenses

Total operating expenses consist of our base management fee, income incentive fee, capital gains incentive fee, interest expenses and amortization of fees, administration agreement expenses, and general and administrative expenses. We anticipate that our operating expenses would increase over time to the extent that our investment portfolio grows. However, we anticipate operating expenses, as a percentage of total assets and net assets, would generally decrease over time to the extent that our investment portfolio and capital base expand. We expect that base management and income incentive fees would increase to the extent that we grow our capital base and our earnings. The capital gains incentive fee depends on realized and unrealized gains and losses. Interest expenses will generally increase if we draw down on the Credit Facility or issue debt securities, and we generally expect expenses under the Administration Agreement and general and administrative expenses to increase over time to the extent that our investment portfolio grows, to meet the additional requirements associated with servicing a larger portfolio.

Total operating expenses for the three and nine months ended September 30, 2024 were $7.4 million and $20.8 million, respectively. Total operating expenses for the three and nine months ended September 30, 2023 were $7.7 million and $20.7 million, respectively.

Base management fees for the three and nine months ended September 30, 2024 were $1.6 million and $4.6 million, respectively. Base management fees for the three and nine months ended September 30, 2023 were $1.4 million and $4.1 million, respectively. Base management fees increased during the 2024 periods due to an increase in invested equity, primarily through the issuance of common stock.

We did not incur an income incentive fee for the three and nine months ended September 30, 2024, as the income incentive fees were reduced by $1.6 million and $5.5 million, respectively, due to the total return requirement under the Advisory Agreement. We did not incur an income incentive fee for the three and nine months ended September 30, 2023, as the income incentive fees were reduced by $2.1 million and $6.5 million, respectively, due to the total return requirement under the Advisory Agreement. We did not incur a capital gains incentive fee during the three and nine months ended September 30, 2024 or the three and nine months ended September 30, 2023, primarily due to the current and cumulative realized and unrealized losses we recorded on our investment portfolio during the periods. See “Note 3. Related Party Agreements and Transactions” to our unaudited financial statements with respect to the capital gains incentive fee expense accruals.

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For the three and nine months ended September 30, 2024, interest and fees on our borrowings totaled $4.5 million and $12.2 million, respectively. For the three and nine months ended September 30, 2023, interest and fees on our borrowings totaled $4.5 million and $12.7 million, respectively. Interest and fees decreased during the nine months ended September 30, 2024, as compared to the corresponding 2023 period, primarily due to a decrease in the weighted average borrowings outstanding during the 2024 period compared to the 2023 period, partially offset by an increase in the weighted average interest rate on our borrowings during the nine months ended September 30, 2024, compared to the nine months ended September 30, 2023. The weighted average interest rate on our borrowings slightly decreased during the three months ended September 30, 2024, compared to the three months ended September 30, 2023.

For the three and nine months ended September 30, 2024, expenses under the Administration Agreement and general and administrative expenses totaled $1.3 million and $4.0 million, respectively. For the three and nine months ended September 30, 2023, expenses under the Administration Agreement and general and administrative expenses total $1.9 million and $3.9 million, respectively.

Net Realized Gains and Losses and Net Unrealized Gains and Losses

Realized gains and losses are included in “net realized losses on investments” in the consolidated statements of operations.

For the three and nine months ended September 30, 2024, we recognized net realized losses of $2.3 million and $9.3 million, respectively, primarily due to the write-offs of investments in certain portfolio companies, in addition to foreign currency adjustments. For the three and nine months ended September 30, 2023, we recognized net realized losses of $0.2 million and $18.7 million, respectively, primarily due to the write-offs of investments in certain portfolio companies, in addition to foreign currency adjustments.

Unrealized gains and losses are included in “net change in unrealized losses on investments” in the consolidated statements of operations.

Net change in unrealized losses during the three and nine months ended September 30, 2024 totaled $2.8 million and $6.7 million, respectively, resulting primarily from market rate adjustments and foreign currency adjustments. Net change in unrealized losses during the three and nine months ended September 30, 2023 totaled $3.4 million and $8.8 million, respectively, resulting primarily from market rate adjustments and foreign currency adjustments, partially offset by the reversal of previously recognized unrealized losses on investments that were written off in the period.

Net change in realized and unrealized gains or losses in subsequent periods may be volatile as such results depend on changes in the market, changes in the underlying performance of our portfolio companies and their respective industries, and other market factors.

Portfolio Yield and Total Return

Investment income includes interest income on our debt investments, utilizing the effective yield method, including cash interest income as well as the amortization of any purchase premium, accretion of purchase discount, original issue discount, facilities fees, and the amortization and payment of the EOT payments.

The following table shows the weighted average annualized portfolio yield on our debt investments, excluding non-income producing investments, comprising of cash interest income, accretion of the net purchase discount, facilities fees and the value of warrant investments received, accretion of EOT payments and the accelerated receipt of EOT payments on prepayments:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Ratios (Percentages, on an annualized basis)(1)	2024		2023		2024		2023
Weighted average portfolio yield on debt investments(2)	15.9	%	17.4	%	15.4	%	16.4	%
Coupon income	12.2	%	13.5	%	11.7	%	12.7	%
Accretion of discount	1.3	%	1.1	%	1.1	%	1.3	%
Accretion of end-of-term payments	1.7	%	1.9	%	1.7	%	1.9	%
Impact of prepayments during the period	0.7	%	0.9	%	0.9	%	0.5	%

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(1)Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.

(2)The weighted average portfolio yields on debt investments reflected above do not represent actual investment returns to our shareholders.

Our weighted average annualized portfolio yield on debt investments may be higher than an investor’s yield on an investment in shares of our common stock. Our weighted average annualized portfolio yield on debt investments does not reflect operating expenses that may be incurred by us and, thus, by our stockholders. In addition, our weighted average annualized portfolio yield on debt investments and total return figures disclosed in this Quarterly Report on Form 10-Q do not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of our common stock. Our weighted average annualized portfolio yield on debt investments and total return based on net asset value do not represent actual investment returns to common stockholders. Our weighted average annualized portfolio yield on debt investments and total return figures are subject to change and, in the future, may be greater or less than the rates set forth in this Quarterly Report on Form 10-Q.

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For the three and nine months ended September 30, 2024, our total return based on the change in net asset value was 1.0% and 3.9%, respectively. For the three and nine months ended September 30, 2023, our total return based on the change in net asset value was 2.5% and 1.8%, respectively. Total return based on net asset value is the change in ending net asset value per common share plus distributions per common share paid during the period divided by the beginning net asset value per common share for the period. The total return is for the period shown and is not annualized.

The following table shows our return on average total assets and return on average net asset value for the periods indicated:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
Returns on Net Asset Value and Total Assets(1) (dollars in thousands)	2024			2023			2024			2023
Net investment income	$	8,054		$	10,326		$	27,361		$	32,655
Net increase (decrease) in net assets	$	2,931		$	6,798		$	11,367		$	5,116
Average net asset value(2)	$	285,135		$	275,079		$	288,786		$	284,094
Average total assets(2)	$	439,316		$	462,406		$	451,843		$	473,136
Net investment income to average net asset value(3)	11.2		%	14.9		%	12.7		%	15.4		%
Net increase in net assets to average net asset value(3)	4.1		%	9.8		%	5.3		%	2.4		%
Net investment income to average total assets(3)	7.3		%	8.9		%	8.1		%	9.2		%
Net increase in net assets to average total assets(3)	2.7		%	5.8		%	3.4		%	1.4		%

_______________

(1)Net asset value used in ratios represents net asset value to common shareholders and excludes preferred shareholders’ equity.

(2)The average net asset values and the average total assets are computed based on daily balances.

(3)Percentage is presented on an annualized basis.

Critical Accounting Policies

The preparation of our consolidated financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Changes in the economic environment, financial markets, and any other parameters used in determining such estimates, including with respect to the valuation of our investments, could cause actual results to differ.

Understanding our accounting policies and the extent to which we use management’s judgment and estimates in applying these policies is integral to understanding our financial statements. We describe our most significant accounting policies in “Note 2. Significant Accounting Policies” in our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in this Quarterly Report on Form 10-Q. Critical accounting policies are those that require the application of management’s most difficult, subjective or complex judgments, often because of the need to make estimates about the effect of matters that are inherently uncertain and that may change in subsequent periods. Management has utilized available information, including our past history, industry standards and the current economic environment, among other factors, in forming the estimates and judgments, giving due consideration to materiality. We have identified the valuation of our investment portfolio, including our investment valuation policy (which has been approved by the Board), as our critical accounting policy and estimates. The critical accounting policies should be read in conjunction with the risk factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in this Quarterly Report on Form 10-Q.

Investment Valuation

Investment transactions are recorded on a trade-date basis. Our investments are carried at fair value in accordance with the 1940 Act and ASC Topic 946 and measured in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or “ASC Topic 820,” issued by the FASB. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market-based measure considered from the perspective of the market’s participant who holds the financial instrument rather than an entity-specific measure. When market assumptions are not readily available, our own assumptions are set to reflect those that the Adviser believes market participants would use in pricing the financial instruments on the measurement date.

The availability of observable inputs can vary depending on the financial instrument and is affected by a variety of factors. To the extent the valuation is based on models or inputs that are less observable, the determination of fair value requires more judgment. Our valuation methodology is approved by the Board, and the Board is responsible for the fair values determined. As markets change, new types of investments are made, or pricing for certain investments becomes more or less observable, management, with oversight from the Board, may refine our valuation methodologies to best reflect the fair value of our investments appropriately.

As of September 30, 2024, our investment portfolio, valued at fair value in accordance with our Board-approved valuation policy, represented 85.6% of our total assets, as compared to 86.1% of our total assets as of December 31, 2023.

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See “Note 2. Significant Accounting Policies” and “Note 4. Investments” in the notes to the consolidated financial statements included in our Annual Report on Form 10-K filed with the SEC on March 13, 2024 and “Note 4. Investments” in the notes to the consolidated financial statements included in this Quarterly Report on Form 10-Q for more information on our valuation process.

Liquidity and Capital Resources

We believe that our current cash and cash equivalents on hand, our available borrowing capacity under the Credit Facility and our anticipated cash flows from operations, including from contractual monthly portfolio company payments and cash flows, prepayments, and the ability to liquidate any publicly traded investments, will be adequate to meet our cash needs for our daily operations, including to fund our unfunded commitment obligations.

Cash Flows

During the nine months ended September 30, 2024, net cash provided by operating activities, consisting primarily of fundings and purchases, sales and repayments of investments and the items described in “Results of Operations” above, was $26.6 million and net cash used in financing activities, consisting primarily of net repayments under the Credit Facility and distributions paid, was $27.9 million. As of September 30, 2024, cash and cash equivalents, including restricted cash, was $59.6 million.

During the nine months ended September 30, 2023, net cash provided by operating activities, consisting primarily of fundings and purchases, sales and repayments of investments and the items described in “Results of Operations” above, was $22.0 million and net cash used in financing activities, consisting primarily of distributions paid, partially offset by net borrowings under the Credit Facility, was $18.3 million. As of September 30, 2023, cash, including restricted cash, was $40.8 million.

Capital Resources and Borrowings

As a BDC, we generally have an ongoing need to raise additional capital for investment purposes. As a result, we expect, from time to time, to access the debt and equity markets when we believe it is necessary and appropriate to do so. In this regard, we continue to explore various options for obtaining additional debt or equity capital for investments. This may include expanding or extending the Credit Facility, the issuance of additional shares of our common stock in exchange for capital contributions or the issuance of debt securities. If we are unable to obtain leverage or raise capital on terms that are acceptable to us, our ability to grow our portfolio could be substantially impacted.

As of September 30, 2024, we had received capital commitments totaling $386.8 million in connection with our private offering of common stock, of which $354.7 million had been funded. Upon termination of our investment period, which occurred on December 19, 2023, our stockholders were released from funding obligations for any remaining undrawn capital commitments under their respective subscription agreements with us, subject to limited exceptions set forth in the subscription agreements.

Credit Facility

We have $250.0 million in total commitments available under the Credit Facility, subject to various covenants and borrowing base requirements. The Credit Facility also includes an accordion feature, which allows the Financing Subsidiary to request an increase in the size of the Credit Facility to an amount not to exceed $400.0 million (including by adding additional lenders under the Credit Facility), subject to certain conditions and the consent of the lenders. The revolving period under the Credit Facility is scheduled to expire on July 15, 2025 and the maturity date of the Credit Facility is scheduled for January 15, 2027. Advances under the Credit Facility accrue interest at a per annum rate equal to the applicable margin plus the greater of 3-month Term SOFR and 0.50%, and are subject to certain minimum principal utilization amounts during the revolving period. As of September 30, 2024, the applicable margin is equal to 3.25% during the revolving period and increases to 4.25% during the amortization period. See “Note 6. Borrowings” in the notes to consolidated financial statements for more information regarding the terms of the Credit Facility.

As of September 30, 2024 and December 31, 2023, we had outstanding borrowings of $80.5 million and $87.5 million, respectively, under the Credit Facility, excluding deferred credit facility costs of $2.3 million and $3.0 million, respectively, which are included as assets in the consolidated statements of assets and liabilities. As of September 30, 2024 and December 31, 2023, we had $169.5 million and $162.5 million, respectively, of remaining capacity on our Credit Facility.

2027 Notes

On April 6, 2022, we issued $75.0 million in aggregate principal amount of the 2027 Notes with a fixed interest rate of 5.86% per year. The 2027 Notes were issued in a private placement to certain qualified institutional investors, pursuant to the terms of the Note Purchase Agreement. The 2027 Notes will mature on April 6, 2027, unless redeemed, purchased or prepaid prior to such date in accordance with their terms. In the event that a Below Investment Grade Event (as defined in the Note Purchase Agreement) occurs, the 2027 Notes will bear interest at a fixed rate of 6.86% per year from the date of the occurrence of the Below Investment Grade Event to and until the date on which the Below Investment Grade Event is no longer continuing.

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The 2027 Notes may be redeemed in whole or in part at any time or from time to time at the Company’s option at par plus accrued interest to the prepayment date and, if applicable, a make-whole premium. In addition, we are obligated to offer to prepay the 2027 Notes at par plus accrued and unpaid interest up to, but excluding, the date of prepayment, if certain change in control events occur. The 2027 Notes are general unsecured obligations that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by us; provided however, in the event that we create, incur, assume or permit to exist liens on or with respect to any of our property or assets in connection with future secured indebtedness of more than an aggregate principal amount of $25 million, the 2027 Notes will generally become secured concurrently therewith, equally and ratably with such indebtedness. See “Note 6. Borrowings” in the notes to consolidated financial statements for more information regarding the 2027 Notes and the Note Purchase Agreement.

Series A Preferred Stock

On May 27, 2020, we sold 525 shares of Series A Cumulative Preferred Stock (the “Series A Preferred Stock”) at a price of $1,000.00 per share, resulting in gross proceeds of $525,000. Distributions, including the payment of dividends and distribution of our assets upon dissolution, liquidation, or winding up, on the Series A Preferred Stock are senior to all other classes and series of our common stock to the extent of the aggregate liquidation preference of the Series A Preferred Stock ($1,000 per share, or the “Liquidation Value”) and all accrued but unpaid dividends and any applicable redemption premium on the Series A Preferred Stock. Dividends on each share of the Series A Preferred Stock are payable semiannually on June 30 and December 31 of each year and accrue at the rate of 12.0% per annum of the sum of the Liquidation Value thereof plus all accumulated and unpaid dividends thereon, from and including the date of issuance to and including the earlier of (1) the date of any liquidation, dissolution, or winding up of the Company or (2) the date on which such share of Series A Preferred Stock is redeemed. Such dividends are generally cumulative with the result that all accrued and unpaid dividends must be fully paid or declared with funds irrevocably set apart for payment for all past dividend periods before any dividend, distribution or payment may be made to holders of outstanding shares of our common stock. See “Liquidity and Capital Resources - Capital Resources and Borrowings” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 for more information regarding the Series A Preferred Stock.

Asset Coverage Requirements

We are required under the 1940 Act to meet a coverage ratio of total assets (less all liabilities and indebtedness not represented by senior securities) to the aggregate amount of our senior securities, which generally includes all of our borrowings and any preferred stock, of at least 150%. As of September 30, 2024, our asset coverage for total borrowings and other senior securities was 279%.

Unfunded Commitments

We are a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of our portfolio companies. As of September 30, 2024 and December 31, 2023, our unfunded commitments totaled $63.9 million and $72.2 million, respectively, of which $44,000 and $6.3 million, respectively, was dependent upon the portfolio companies reaching certain milestones before the debt commitment becomes available to them.

The following table shows our unfunded commitments by portfolio company as of September 30, 2024 and December 31, 2023:

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Unfunded Commitments(1) (in thousands)	September 30, 2024		December 31, 2023
Activehours, Inc.	$	10,000	$	10,000
Etched.ai, Inc.	10,000		—
Luxury Presence, Inc.	7,000		6,000
Karat Financial Technologies, Inc.	6,719		6,719
Cresta Intelligence, Inc.	5,000		—
Thoughtful Automation, Inc.	4,061		—
Haven Energy Inc.	2,700		—
Headout Inc.	2,649		—
Earth Funeral Group, Inc.	2,570		—
Planet A Foods GmbH	2,232		—
Panorama Education, Inc.	2,140		—
Join Digital, Inc.	2,100		—
Ocrolus Inc.	1,714		—
Overtime Sports, Inc.	1,143		1,143
Hover Inc.	1,000		—
Quantum Circuits, Inc.	1,000		—
Mirelo AI GmbH	926
Idelic, Inc.	400		1,200
Worldwide Freight Logistics Ltd.	268		345
Flashparking, Inc.	250		—
Ephemeral Solutions, Inc.	44		—
Perry Health, Inc.	—		8,000
Ever/Body Inc.	—		6,200
Prose Beauty, Inc.	—		6,000
Machinify, Inc.	—		5,000
Placemakr, Inc.	—		5,000
JOKR	—		3,748
Parsable, Inc.	—		2,667
Firemaps, Inc.	—		2,000
FireHydrant, Inc.	—		1,200
McN Investments Ltd.	—		1,000
Pair Eyewear, Inc.	—		1,000
Substack, Inc.	—		1,000
Tempus Ex Machina, Inc.	—		1,000
Virtual Facility, Inc.	—		1,000
Highbeam, Inc.	—		813
Construction Finance Corporation	—		575
OnSiteIQ, Inc.	—		334
Forum Brands, LLC	—		147
Allplants LTD	—		102
Total	$	63,916	$	72,193

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(1)Does not include backlog of potential future commitments. Refer to “Investment Activity” above. 

During the nine months ended September 30, 2024 and the year ended December 31, 2023, $31.8 million and $103.4 million of unfunded commitments expired or were terminated, respectively. The following table shows additional information on our unfunded commitments regarding milestones and expirations as of September 30, 2024 and December 31, 2023:

Unfunded Commitments(1) (in thousands)	September 30, 2024		December 31, 2023
Dependent on milestones	$	44	$	6,300
Expiring during:
2024	20,431		64,331
2025	33,095		7,862
2026	10,390		—
Total	$	63,916	$	72,193

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(1)Does not include backlog of potential future commitments.

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Our credit agreements contain customary lending provisions that allow us relief from funding obligations for previously made commitments in instances where the underlying portfolio company experiences material adverse events that affect the financial condition or business outlook for the portfolio company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for us. We generally expect 50% - 75% of our gross unfunded commitments to eventually be drawn before the expiration of their corresponding availability periods.

The fair value at the inception of the delay draw credit agreements with our portfolio companies is equal to the fees and/or warrants received to enter into these agreements, taking into account the remaining terms of the agreements and the counterparties’ credit profile. The unfunded commitment liability reflects the fair value of these future funding commitments.

Common Stock Distributions

We have elected to be treated, and intend to qualify annually, as a RIC under the Code. To maintain RIC tax treatment, we must distribute at least 90% of our net ordinary income and net realized short-term capital gains in excess of our net realized long-term capital losses, if any, to our stockholders. In order to avoid a non-deductible 4% U.S. federal excise tax on certain of our undistributed income, we would need to distribute during each calendar year an amount at least equal to the sum of: (a) 98% of our ordinary income (not taking into account any capital gains or losses) for such calendar year; (b) 98.2% of the amount by which our capital gains exceed our capital losses (adjusted for certain ordinary losses) for a one-year period ending on October 31 of the calendar year (unless an election is made by us to use our taxable year); and (c) certain undistributed amounts from previous years on which we paid no U.S. federal income tax. For the tax years ended December 31, 2023 and December 31, 2022, we were subject to a 4% U.S. federal excise tax and we may be subject to this tax in future years. In such cases, we will be liable for the tax only on the amount by which we do not meet the foregoing distribution requirement.

To the extent our taxable earnings fall below the total amount of our distributions for the year, a portion of those distributions may be deemed a return of capital to our stockholders. Our Adviser monitors available taxable earnings, including net investment income and realized capital gains, to determine if a return of capital may occur for the year. We estimate the source of our distributions as required by Section 19(a) of the 1940 Act to determine whether payment of dividends are expected to be paid from any other source other than net investment income accrued for current period or certain cumulative periods, but we will not be able to determine whether any specific distribution will be treated as made out of our taxable earnings or as a return of capital until after the end of our taxable year. Any amount treated as a return of capital will reduce a stockholder’s adjusted tax basis in his or her common stock, thereby increasing his or her potential gain or reducing his or her potential loss on the subsequent sale or other disposition of his or her common stock. On a quarterly basis, for any payment of dividends estimated to be paid from any other source other than net investment income accrued for current period or certain cumulative periods based on the requirements of Section 19(a) of the 1940 Act, we will send a written Section 19(a) notice to our registered stockholders along with the dividend payment. The estimates of the source of the distribution are interim estimates based on GAAP that are subject to revision, and the exact character of the distributions for tax purposes cannot be determined until the final books and records are finalized for the calendar year. Therefore, these estimates are made solely in order to comply with the requirements of Section 19(a) of the 1940 Act and should not be relied upon for tax reporting or any other purposes and could differ significantly from the actual character of distributions for tax purposes. The specific tax characteristics of our distributions will be reported to stockholders after the end of the taxable year. We intend to pay quarterly distributions to our common stockholders.

The following table shows our cash distributions per common share that have been authorized by our Board since commencement of operations to September 30, 2024:

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Date Declared	Record Date	Payment Date	Per Share Amount
November 12, 2020	November 13, 2020	November 20, 2020	$	0.15
December 21, 2020	December 22, 2020	December 30, 2020	0.30
December 21, 2020	December 22, 2020	December 30, 2020	0.14		(1)
May 12, 2021	May 13, 2021	May 19, 2021	0.30
August 11, 2021	August 13, 2021	August 27, 2021	0.30
October 29, 2021	November 1, 2021	November 12, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.10		(2)
April 28, 2022	May 13, 2022	May 19, 2022	0.33
July 26, 2022	August 5, 2022	August 26, 2022	0.40
October 28, 2022	November 1, 2022	November 11, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.40
December 9, 2022	December 15, 2022	December 30 2022	0.10
April 27, 2023	May 12, 2023	May 19, 2023	0.42
July 27, 2023	August 4, 2023	August 25, 2023	0.42
October 27, 2023	October 30, 2023	November 15, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.12		(2)
April 25, 2024	April 29, 2024	May 17, 2024	0.47
August 1, 2024	August 5, 2024	August 23, 2024	0.41
		Total cash distributions	$	6.30

_____________

(1)Represents a special distribution sourced from net realized short-term capital gains.

(2)Represents a special distribution sourced from net investment income.

As of September 30, 2024, we estimated that we had undistributed taxable earnings from distributable earnings of $21.6 million, or $0.91 per common share.

Recent Accounting Pronouncements

In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 (1) clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and (2) requires specific disclosures related to such an equity security. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023 and interim periods within that fiscal year, with early adoption permitted. The adoption of these rules did not have a material impact on the consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This change is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. We are currently evaluating the impact of adopting this guidance with respect to the consolidated financial statements and disclosures.

Recent Developments

Distribution

On October 31, 2024, our Board declared a $0.41 per share distribution to our common stockholders, payable on November 15, 2024 to stockholders of record on November 1, 2024.

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Item 3.    Quantitative and Qualitative Disclosures about Market Risk

We are subject to financial market risks, including changes in interest rates. We are also subject to risks relating to the capital markets; changes in foreign currency exchange rates; conditions affecting the general economy; legislative reform; and local, regional, national or global political, social or economic instability. U.S. and global capital markets and credit markets have recently been experiencing an increase in the level of volatility across such markets and in values of publicly-traded securities. Any continuation of the stresses on capital markets and credit markets, or a further increase in volatility, could result in a contraction of available credit for us and/or an inability by us to access the equity or debt capital markets, or could otherwise cause an inability or unwillingness of our lenders to fund their commitments to us, any of which may have a material adverse effect on our results of operations and financial condition.

Interest Rate Risk

Interest rate sensitivity refers to the change in our earnings and in the relative values of our portfolio that may result from changes in the level of interest rates. Because we fund a portion of our investments with borrowings, our net investment income is affected by the difference between the rate at which we invest and the rate at which we borrow. As a result, there can be no assurance that a change in market interest rates will not have a material adverse effect on our net investment income.

Changes in interest rates may affect both our cost of funding and our interest income from portfolio investments. Our risk management systems and procedures are designed to identify and analyze our risk, to set appropriate policies and limits and to continually monitor these risks. Our investment income will be affected by changes in various interest rates or reference rates to the extent that any debt investments include floating interest rates. Debt investments are made with either floating rates that are subject to contractual minimum interest rates for the term of the investment or fixed interest rates.

A prolonged reduction in interest rates could reduce our gross investment income and could result in a decrease in our net investment income if such decreases in interest rates are not offset by a corresponding increase in the spread over Prime that we earn on any portfolio investments, a decrease in our operating expenses or a decrease in the interest rate of our floating interest rate liabilities.

As of September 30, 2024, a majority of the debt investments (approximately 80.2%, or $289.0 million in principal balance) in our portfolio bore interest at floating rates, which generally are Prime-based and all of which have interest rate floors of 3.25% or higher. Substantially all of our unfunded commitments float with changes in the Prime rate from the date we enter into the commitment to the date of the actual draw. In addition, our interest expense will be affected by changes in the floating rate based on certain indices referenced in the Credit Facility, including SOFR.

As of September 30, 2024, our floating rate borrowings totaled $80.5 million, which represented 51.8% of our outstanding debt as of September 30, 2024. As of September 30, 2024, all of our floating rate debt investments were subject to interest-rate floors set at 3.25% or higher. Because the Prime Rate as of September 30, 2024 was 8.00%, which is at or above the interest-rate floors applicable to a majority of our floating rate debt investments, decreases in interest rates will impact our interest income to a limited extent until the Prime Rate reaches 3.25%, while increases in interest rates will increase our interest income to the extent that such rates exceed the applicable interest-rate floor. In addition, with respect to interest expense on our floating rate borrowings, we will benefit from any decreases in interest rates up to the point that the SOFR rate decreases to 0.50%, which is the SOFR interest-rate floor under the Credit Facility as of September 30, 2024. However, because current interest rates exceed the SOFR interest-rate floor under our Credit Facility as of September 30, 2024, our interest expense on floating rate borrowings will increase if rates rise. The following table illustrates the annual impact on our net investment income of hypothetical base rate changes in interest rates (considering interest rate floors for variable rate instruments) assuming no changes in our investment and borrowing structure from the September 30, 2024 consolidated statement of assets and liabilities:

Change in Interest Rates (in thousands)	Increase (decrease) in interest income		(Increase) decrease in interest expense		Net increase (decrease) in net investment income
Up 300 basis points	$	7,816	$	(3,750)	$	4,066
Up 200 basis points	$	5,119	$	(2,500)	$	2,619
Up 100 basis points	$	2,422	$	(1,250)	$	1,172
Up 50 basis points	$	1,073	$	(625)	$	448
Down 50 basis points	$	(969)	$	625	$	(344)
Down 100 basis points	$	(1,782)	$	1,250	$	(532)
Down 200 basis points	$	(3,293)	$	2,500	$	(793)
Down 300 basis points	$	(4,552)	$	3,750	$	(802)

This analysis is indicative of the potential impact on our investment income as of September 30, 2024, assuming an immediate and sustained change in interest rates as noted. It should be noted that we anticipate growth in our portfolio funded in part with additional borrowings under the Credit Facility and potentially other borrowings, and such borrowings, to the extent they are floating rate borrowings, all else being equal, will increase our investment income sensitivity to interest rates, and such changes could be material. In addition, this analysis does not adjust for potential changes in our portfolio or our borrowing facilities after September 30, 2024 nor does it take into account any changes in the credit performance of our loans that might occur should interest rates change.

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Because it is our intention to hold loans to maturity, the fluctuating relative value of these loans that may occur due to changes in interest rates may have an impact on unrealized gains and losses during quarterly reporting periods. Based on our assessment of the interest rate risk, as of September 30, 2024, we had no hedging transactions in place as we deemed the risk acceptable, and we did not believe it was necessary to mitigate this risk at that time.

Foreign Currency Exchange Rate Risk

We may also have exposure to changes in foreign currency exchange rates in connection with certain investments. Such investments are translated into U.S. dollars based on the spot rate at the relevant balance sheet date, exposing us to movements in the exchange rate. During the nine months ended September 30, 2024, we entered into foreign currency forward contracts to limit our foreign currency exposure with respect to the British Pound Sterling and Euro. For additional information refer to “Note 4 – Investments”, included in the notes to our consolidated financial statements appearing elsewhere in this report.

While hedging activities may mitigate our exposure to adverse fluctuations in interest rates or foreign currency exchange rates, certain hedging transactions that we may enter into in the future, such as interest rate swap agreements or foreign currency forward contracts, may also limit our ability to participate in the benefits of higher interest rates or beneficial movements in foreign currency exchange rates with respect to our portfolio investments. In addition, there can be no assurance that we will be able to effectively hedge our interest rate risk or foreign currency exchange rate risk.

Substantially all of our assets and liabilities are financial in nature. As a result, changes in interest rates, foreign currency exchange rates and other factors drive our performance more directly than does inflation. Changes in interest rates and foreign currency exchange rates do not necessarily correlate with changes in inflation rates.

Item 4.    Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Our Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based on the evaluation of these disclosure controls and procedures, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective. It should be noted that any system of controls, however well-designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events. Because of these and other inherent limitations of control systems, there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

Changes in Internal Control Over Financial Reporting

Management has not identified any change in the Company’s internal control over financial reporting that occurred during the quarter ended September 30, 2024 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1.    Legal Proceedings

Neither we, the Adviser, nor our subsidiaries are currently subject to any material pending legal proceedings, other than ordinary routine litigation incidental to our businesses. We, the Adviser, and our subsidiaries may from time to time, however, be involved in litigation arising out of our operations in the normal course of business or otherwise. Furthermore, third parties may seek to impose liability on us in connection with the activities of our portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, we do not expect any current matters will materially affect our financial condition or results of operations; however, there can be no assurance whether any pending legal proceedings will have a material adverse effect on our financial condition or results of operations in any future reporting period.

Item 1A.    Risk Factors

You should carefully consider the risks referenced below and all other information contained in this Quarterly Report on Form 10-Q, including our interim financial statements and the related notes thereto, before making a decision to purchase our securities. Any such risks and uncertainties are not the only ones facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may have a material adverse effect on our business, financial condition and/or operating results, as well as the value of our securities.

There have been no material changes during the three months ended September 30, 2024 to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023 (filed with the SEC on March 13, 2024) which could materially affect our business, financial condition or operating results.

Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

We did not sell any equity securities during the period covered by this Quarterly Report on Form 10-Q that were not registered under the Securities Act. Similarly, we did not repurchase any shares of our equity securities during the quarter ended September 30, 2024.

Item 3.    Defaults Upon Senior Securities

None.

Item 4.    Mine Safety Disclosures

Not applicable.

Item 5.    Other Information

Rule 10b5-1 Trading Plans

During the fiscal quarter ended September 30, 2024, none of our directors or officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Item 6.    Exhibits

The following exhibits are filed as part of this report or hereby incorporated by reference to exhibits previously filed with the SEC:

77

3.1	Articles of Incorporation(1)
3.2	Articles Supplementary(2)
3.3	Bylaws(3)
31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934(*)
31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934(*)
32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act(**)
32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act(**)
101.INS	Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

(1)Incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No. 814-01327) filed on May 27, 2020.

(2)Incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K (File No. 814-01327) filed on May 27, 2020.

(3)Incorporated by reference to Exhibit 3.3 to the Registrant’s Current Report on Form 8-K (File No. 814-01327) filed on May 27, 2020.

(*)Filed herewith.

(**) Furnished herewith.

78

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		TriplePoint Private Venture Credit Inc.
Date: November 7, 2024	By:	/s/ James P. Labe
		James P. Labe
		Chief Executive Officer and Chairman of the Board of Directors
		(Principal Executive Officer)

Date: November 7, 2024	By:	/s/ Brandon R. Campbell
		Brandon R. Campbell
		Interim Chief Financial Officer
		(Principal Financial and Accounting Officer)

79

EX-31.1

Exhibit 31.1

Certification of Chief Executive Officer

I, James P. Labe, Chief Executive Officer of TriplePoint Private Venture Credit Inc., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of TriplePoint Private Venture Credit Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated this 7th day of November 2024.

By:	/s/ James P. Labe
	James P. Labe
	Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification of Chief Financial Officer

I, Brandon R. Campbell, Interim Chief Financial Officer of TriplePoint Private Venture Credit Inc., certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of TriplePoint Private Venture Credit Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated this 7th day of November 2024.

By:	/s/ Brandon R. Campbell
	Brandon R. Campbell
	Interim Chief Financial Officer

EX-32.1

Exhibit 32.1

Certification of Chief Executive Officer

Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)

In connection with the Quarterly Report on Form 10-Q for the three months ended September 30, 2024 (the “Report”) of TriplePoint Private Venture Credit Inc. (the “Registrant”), as filed with the Securities and Exchange Commission on the date hereof, I, James P. Labe, the Chief Executive Officer of the Registrant, hereby certify, to the best of my knowledge, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

	/s/ James P. Labe
Name:	James P. Labe
Date:	November 7, 2024

EX-32.2

Exhibit 32.2

Certification of Chief Financial Officer

Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350)

In connection with the Quarterly Report on Form 10-Q for the three months ended September 30, 2024 (the “Report”) of TriplePoint Private Venture Credit Inc. (the “Registrant”), as filed with the Securities and Exchange Commission on the date hereof, I, Brandon R. Campbell, Interim Chief Financial Officer of the Registrant, hereby certify, to the best of my knowledge, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

	/s/ Brandon R. Campbell
Name:	Brandon R. Campbell
Date:	November 7, 2024

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Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 07, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	814-01327
Entity Registrant Name	TriplePoint Private Venture Credit Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	84-3383695
Entity Address, Address Line One	2755 Sand Hill Road
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	854-2090
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,689,363
Amendment Flag	false
Entity Central Index Key	0001792509
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
Assets
Investments at fair value (amortized cost of $393,790 and $406,433, respectively)	[1]	$ 380,841	[2],[3]	$ 400,195	[4],[5]
Cash and cash equivalents		59,548		45,398
Restricted cash		34		15,447
Deferred credit facility costs		2,261		2,988
Prepaid expenses and other assets		2,306		1,000
Total assets		444,990		465,028
Liabilities
Revolving Credit Facility		80,500		87,500
2027 Notes, net		74,488		74,350
Base management fee payable		1,552		1,471
Other accrued expenses and liabilities		7,435		11,165
Total liabilities		163,975		174,486
Commitments and Contingencies (Note 7)
Net assets
Preferred stock, par value $0.01 per share (50,000,000 shares authorized; 525 shares issued and outstanding)		0		0
Common stock, par value $0.01 per share		237		237
Paid-in capital in excess of par value		352,037		352,037
Total distributable loss		(71,259)		(61,732)
Total net assets		281,015		290,542
Total liabilities and net assets		$ 444,990		$ 465,028
Shares of common stock outstanding (par value $0.01 per share and 450,000,000 shares authorized) (in shares)		23,689,363		23,689,363
Net asset value per common share (in dollars per share)		$ 11.84		$ 12.24

[1] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[2] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[3] Value as a percentage of net assets.

[4] Non-income producing investments.

[5] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

XML

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
Statement of Financial Position [Abstract]
Cost	[1]	$ 393,790	[2],[3],[4]	$ 406,433	[5],[6],[7]
Preferred stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)		50,000,000		50,000,000
Preferred stock, shares issued (in shares)		525		525
Preferred stock, shares outstanding (in shares)		525		525
Common stock par value (in dollars per share)		$ 0.01		$ 0.01
Common stock, shares authorized (in shares)		450,000,000		450,000,000

[1] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[2] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $10.3 million, $21.1 million and $10.8 million, respectively, for the September 30, 2024 investment portfolio. The tax cost of investments is $395.9 million.

[3] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[4] Value as a percentage of net assets.

[5] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $9.3 million, $16.7 million and $7.4 million, respectively, for the December 31, 2023 investment portfolio. The tax cost of investments is $407.6 million.

[6] Non-income producing investments.

[7] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investment income
Interest income from investments	$ 14,146	$ 17,496	$ 44,430	$ 51,457
Payment-in-kind interest income	952	318	2,791	419
Other income
Expirations/terminations of unfunded commitments	313	141	509	1,340
Other fees	0	76	457	151
Total investment and other income	15,411	18,031	48,187	53,367
Operating expenses
Base management fee	1,552	1,378	4,647	4,089
Interest expense and amortization of fees	4,536	4,463	12,163	12,703
Administration agreement expenses	500	517	1,672	1,482
General and administrative expenses	769	1,347	2,344	2,438
Total operating expenses	7,357	7,705	20,826	20,712
Net investment income	8,054	10,326	27,361	32,655
Net realized and unrealized losses
Net realized losses on investments	(2,342)	(175)	(9,321)	(18,700)
Net change in unrealized losses on investments	(2,781)	(3,353)	(6,673)	(8,839)
Net realized and unrealized losses	(5,123)	(3,528)	(15,994)	(27,539)
Net increase in net assets resulting from operations	$ 2,931	$ 6,798	$ 11,367	$ 5,116
Net investment income per common share, Basic (in dollars per share)	$ 0.34	$ 0.51	$ 1.15	$ 1.61
Net investment income per common share, Diluted (in dollars per share)	0.34	0.51	1.15	1.61
Net increase in net assets per common share (in dollars per share)	$ 0.12	$ 0.33	$ 0.48	$ 0.25
Weighted average shares of common stock outstanding, Basic (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Weighted average shares of common stock outstanding, Diluted (in shares)	23,689,363	20,297,200	23,689,363	20,297,200

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CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			23,689,363
Beginning balance	$ 287,812	$ 274,396	$ 290,542	$ 284,635
Preferred stock, shares outstanding, Beginning balance (in shares)			525
Common stock distributions from distributable earnings	(9,713)	(8,525)	$ (20,847)	(17,050)
Preferred stock distributions from distributable earnings	(15)	(15)	(47)	(47)
Net increase (decrease) in net assets resulting from operations	$ 2,931	$ 6,798	$ 11,367	$ 5,116
Preferred stock, shares outstanding, Ending balance (in shares)	525		525
Ending balance (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Ending balance	$ 281,015	$ 272,654	$ 281,015	$ 272,654
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Beginning balance	$ 237	$ 203	$ 237	$ 203
Ending balance (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Ending balance	$ 237	$ 203	$ 237	$ 203
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 0	$ 0	$ 0	$ 0
Preferred stock, shares outstanding, Beginning balance (in shares)	525	525	525	525
Preferred stock, shares outstanding, Ending balance (in shares)	525	525	525	525
Ending balance	$ 0	$ 0	$ 0	$ 0
Paid-in capital in excess of par value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	352,037	310,370	352,037	310,370
Ending balance	352,037	310,370	352,037	310,370
Total distributable earnings (loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(64,462)	(36,177)	(61,732)	(25,938)
Common stock distributions from distributable earnings	(9,713)	(8,525)	(20,847)	(17,050)
Preferred stock distributions from distributable earnings	(15)	(15)	(47)	(47)
Net increase (decrease) in net assets resulting from operations	2,931	6,798	11,367	5,116
Ending balance	$ (71,259)	$ (37,919)	$ (71,259)	$ (37,919)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net increase in net assets resulting from operations	$ 2,931	$ 6,798	$ 11,367	$ 5,116
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:
Fundings and purchases of investments			(90,645)	(74,617)
Principal payments and proceeds from investments			99,874	67,533
Payment-in-kind interest on investments			(2,791)	(1,888)
Net change in unrealized losses on investments	2,781	3,353	6,673	8,839
Net realized losses on investments			9,321	18,700
Amortization and accretion of premiums and discounts, net			(3,093)	(4,921)
Amortization of debt fees and issuance costs			865	1,182
Change in operating assets and liabilities:
Prepaid expenses and other assets			(1,306)	(280)
Base management fee payable			81	66
Other accrued expenses and liabilities			(3,730)	2,270
Net cash provided by operating activities			26,616	22,000
Cash Flows from Financing Activities:
Borrowings under revolving credit facility			36,500	35,000
Repayments under revolving credit facility			(43,500)	(34,000)
Common stock distributions paid			(20,847)	(17,050)
Preferred stock distributions paid			(32)	(32)
Net cash used in financing activities			(27,879)	(18,270)
Net change in cash, cash equivalents and restricted cash			(1,263)	3,730
Cash, cash equivalents and restricted cash at beginning of period			60,845	37,066
Cash, cash equivalents and restricted cash at end of period	59,582	40,796	59,582	40,796
Cash and cash equivalents	59,548	30,310	59,548	30,310
Restricted cash	34	10,486	34	10,486
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 59,582	$ 40,796	59,582	40,796
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest			8,830	10,144
Excise taxes paid			572	250
Unsecured Debt
Cash Flows from Financing Activities:
Debt issuance costs of 2027 Notes/ Deferred credit facility costs			0	(16)
Revolving Credit Facility
Cash Flows from Financing Activities:
Debt issuance costs of 2027 Notes/ Deferred credit facility costs			$ 0	$ (2,172)

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CONSOLIDATED SCHEDULE OF INVESTMENTS - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
Cost	[1]	$ 393,790	[2],[3],[4]	$ 406,433	[5],[6],[7]
Fair Value	[1]	380,841	[3],[4]	$ 400,195	[6],[7]
Percentage of net assets	[6],[8]			137.74%
Total Portfolio Companies
Fair Value		$ 380,800		$ 400,200
Percentage of net assets		135.52%	[4],[9]	137.70%
Foreign currency forward contracts
Percentage of net assets		(0.14%)		(0.15%)
Warrant Investments
Fair Value		$ 18,313		$ 16,915
Investment, Identifier [Axis]: AI2 Incorporated
Cost	[2],[9]	830
Fair Value	[9]	$ 830
Shares	[9]	280,424
Investment, Identifier [Axis]: Activehours, Inc.
Interest rate margin	[10]			4.25%
Interest rate floor	[10]			8.50%
Outstanding Principal				$ 0
Cost	[5]			0
Fair Value				0
Investment, Identifier [Axis]: Activehours, Inc. , Equity Investments
Cost	[5],[6]			100
Fair Value	[6]			$ 151
Shares	[6]			9,859
Investment, Identifier [Axis]: Activehours, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 129
Fair Value	[6],[11]			$ 319
Shares	[6],[11]			49,296
Investment, Identifier [Axis]: Activehours, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 129
Fair Value	[9],[12]	$ 319
Shares	[9],[12]	49,296
Investment, Identifier [Axis]: Activehours, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 16
Fair Value	[6],[11]			$ 40
Shares	[6],[11]			6,162
Investment, Identifier [Axis]: Activehours, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 16
Fair Value	[9],[12]	$ 40
Shares	[9],[12]	6,162
Investment, Identifier [Axis]: Activehours, Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			$ 80
Fair Value	[6],[11]			$ 96
Shares	[6],[11]			14,800
Investment, Identifier [Axis]: Activehours, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 80
Fair Value	[9],[12]	$ 96
Shares	[9],[12]	14,800
Investment, Identifier [Axis]: Activehours, Inc. 4, Warrant Investments
Cost	[2],[9],[12]	$ 16
Fair Value	[9],[12]	$ 16
Shares	[9],[12]	3,907
Investment, Identifier [Axis]: Activehours, Inc., Equity Investments
Cost	[2],[9]	$ 100
Fair Value	[9]	$ 151
Shares	[9]	9,859
Investment, Identifier [Axis]: AllPlants Ltd , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 77
Fair Value	[6],[11],[13],[14]			$ 39
Shares	[6],[11],[13],[14]			4,635
Investment, Identifier [Axis]: AllPlants Ltd 1
Interest rate margin		2.50%	[15],[16],[17]	2.50%	[10],[13],[14]
Interest rate floor		11.00%	[15],[16],[17]	9.50%	[10],[13],[14]
Interest rate EOT		7.50%	[15],[16],[17]	5.00%	[10],[13],[14]
Outstanding Principal		$ 1,393	[16],[17]	$ 1,291	[13],[14]
Cost		1,428	[2],[16],[17]	1,338	[5],[13],[14]
Fair Value		$ 1,365	[16],[17]	$ 1,213	[13],[14]
Investment, Identifier [Axis]: AllPlants Ltd 2
Interest rate EOT		7.00%	[15],[16],[17]	7.00%	[10],[13],[14]
Interest rate PIK	[15],[16],[17]	6.50%
Outstanding Principal		$ 142	[16],[17]	$ 173	[13],[14]
Cost		152	[2],[16],[17]	185	[5],[13],[14]
Fair Value		$ 145	[16],[17]	$ 169	[13],[14]
Investment interest rate		5.50%	[15],[16],[17]	10.00%	[10],[13],[14]
Investment, Identifier [Axis]: AllPlants Ltd 3
Interest rate margin		5.50%	[15],[16],[17]	5.50%	[10],[13],[14]
Interest rate floor		19.30%	[15],[16],[17]	11.00%	[10],[13],[14]
Interest rate EOT		9.00%	[15],[16],[17]	8.00%	[10],[13],[14]
Interest rate PIK	[15],[16],[17]	8.30%
Outstanding Principal		$ 933	[16],[17]	$ 901	[13],[14]
Cost		944	[2],[16],[17]	925	[5],[13],[14]
Fair Value		1,063	[16],[17]	$ 1,017	[13],[14]
Investment, Identifier [Axis]: AllPlants Ltd, 1 Warrant Investments
Cost	[2],[9],[12],[16],[17]	154
Fair Value	[9],[12],[16],[17]	$ 80
Shares	[9],[12],[16],[17]	74,534
Investment, Identifier [Axis]: AllPlants Ltd, 2 Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 18
Fair Value	[9],[12],[16],[17]	$ 19
Shares	[9],[12],[16],[17]	17,620
Investment, Identifier [Axis]: Alloy Technologies, Inc.
Interest rate margin				6.25%
Interest rate floor				11.00%
Interest rate EOT				6.00%
Outstanding Principal				$ 2,000
Cost	[5]			2,042
Fair Value				2,042
Investment, Identifier [Axis]: Alloy Technologies, Inc. , Warrant Investments
Cost	[5],[6],[11]			50
Fair Value	[6],[11]			$ 32
Shares	[6],[11]			40,748
Investment, Identifier [Axis]: Alloy Technologies, Inc.,
Interest rate margin		5.25%
Interest rate floor		13.75%
Interest rate EOT		5.00%
Outstanding Principal		$ 1,500
Cost	[2]	1,467
Fair Value		1,467
Investment, Identifier [Axis]: Alloy Technologies, Inc., Warrant Investments 1
Cost	[2],[9],[12]	50
Fair Value	[9],[12]	$ 32
Shares	[9],[12]	40,748
Investment, Identifier [Axis]: Alloy Technologies, Inc., Warrant Investments 2
Cost	[2],[9],[12]	$ 24
Fair Value	[9],[12]	$ 24
Shares	[9],[12]	30,561
Investment, Identifier [Axis]: Angle Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 29
Fair Value	[6],[11]			$ 28
Shares	[6],[11]			140,450
Investment, Identifier [Axis]: Angle Health, Inc. 1
Interest rate margin		8.00%	[15]	8.00%	[10]
Interest rate floor		11.25%	[15]	11.25%	[10]
Interest rate EOT		8.00%	[15]	8.00%	[10]
Outstanding Principal		$ 500		$ 500
Cost		510	[2]	495	[5]
Fair Value		$ 510		$ 495
Investment, Identifier [Axis]: Angle Health, Inc. 2
Interest rate margin		8.00%	[15]	8.00%	[10]
Interest rate floor		11.25%	[15]	11.25%	[10]
Interest rate EOT		8.00%	[15]	8.00%	[10]
Outstanding Principal		$ 500		$ 500
Cost		505	[2]	491	[5]
Fair Value		505		491
Investment, Identifier [Axis]: Angle Health, Inc., Warrant Investments
Cost	[2],[9],[12]	29
Fair Value	[9],[12]	$ 28
Shares	[9],[12]	140,450
Investment, Identifier [Axis]: Appex Group, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			0
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			14,621
Investment, Identifier [Axis]: Appex Group, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 132
Fair Value	[9],[12]	$ 173
Shares	[9],[12]	62,115
Investment, Identifier [Axis]: Appex Group, Inc. 2 , Warrant Investments
Cost	[5],[6],[11],[18]			$ 0
Fair Value	[6],[11],[18]			$ 0
Shares	[6],[11],[18]			0
Investment, Identifier [Axis]: Appex Group, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 36
Fair Value	[9],[12]	$ 36
Shares	[9],[12]	11,004
Investment, Identifier [Axis]: Arcadia Power, Inc. , Equity Investments
Cost	[5],[6]			$ 167
Fair Value	[6]			$ 174
Shares	[6]			16,438
Investment, Identifier [Axis]: Arcadia Power, Inc. 1
Interest rate EOT		7.75%		7.00%	[10]
Outstanding Principal		$ 1,319		$ 5,000
Cost		1,216	[2]	5,098	[5]
Fair Value		$ 1,216		$ 4,994
Investment interest rate		11.75%		9.75%	[10]
Investment, Identifier [Axis]: Arcadia Power, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 77
Fair Value	[6],[11]			$ 133
Shares	[6],[11]			30,810
Investment, Identifier [Axis]: Arcadia Power, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 77
Fair Value	[9],[12]	$ 79
Shares	[9],[12]	30,810
Investment, Identifier [Axis]: Arcadia Power, Inc. 2
Interest rate EOT		7.75%		7.00%	[10]
Outstanding Principal		$ 5,000		$ 5,000
Cost		5,110	[2]	5,034	[5]
Fair Value		$ 5,110		$ 4,946
Investment interest rate		11.75%		11.00%	[10]
Investment, Identifier [Axis]: Arcadia Power, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 117
Fair Value	[6],[11]			$ 52
Shares	[6],[11]			19,795
Investment, Identifier [Axis]: Arcadia Power, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 117
Fair Value	[9],[12]	$ 29
Shares	[9],[12]	19,795
Investment, Identifier [Axis]: Arcadia Power, Inc. 3
Interest rate EOT				3.25%
Outstanding Principal				$ 2,610
Cost	[5]			2,729
Fair Value				$ 2,709
Investment interest rate				8.75%
Investment, Identifier [Axis]: Arcadia Power, Inc., Equity Investments
Cost	[2],[9]	$ 167
Fair Value	[9]	$ 105
Shares	[9]	16,438
Investment, Identifier [Axis]: Astranis Space Technologies Corp. , Warrant Investments
Cost	[5],[6],[11]			$ 95
Fair Value	[6],[11]			$ 578
Shares	[6],[11]			70,959
Investment, Identifier [Axis]: Astranis Space Technologies Corp., Warrant Investments
Cost	[2],[9],[12]	$ 95
Fair Value	[9],[12]	$ 578
Shares	[9],[12]	70,959
Investment, Identifier [Axis]: Athletic Greens International, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 4
Fair Value	[6],[11]			$ 4
Shares	[6],[11]			113
Investment, Identifier [Axis]: Athletic Greens International, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 4
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	113
Investment, Identifier [Axis]: Aven Holdings , Warrant Investments
Cost	[5],[6],[11],[14]			$ 361
Fair Value	[6],[11],[14]			$ 343
Shares	[6],[11],[14]			35,857
Investment, Identifier [Axis]: Aven Holdings, Inc., Warrant Investments
Cost	[2],[9],[12],[17]	$ 361
Fair Value	[9],[12],[17]	$ 343
Shares	[9],[12],[17]	35,857
Investment, Identifier [Axis]: Baby Generation, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 10
Fair Value	[6],[11]			$ 10
Shares	[6],[11]			13,587
Investment, Identifier [Axis]: Baby Generation, Inc. 1
Interest rate margin				7.50%
Interest rate floor				10.75%
Interest rate EOT				8.00%
Outstanding Principal				$ 750
Cost	[5]			781
Fair Value				$ 784
Investment, Identifier [Axis]: Baby Generation, Inc. 2
Interest rate margin	[10]			5.25%
Interest rate floor	[10]			8.50%
Interest rate EOT	[10]			7.50%
Outstanding Principal				$ 250
Cost	[5]			257
Fair Value				$ 258
Investment, Identifier [Axis]: Baby Generation, Inc. 3
Interest rate margin		5.25%	[15]	5.25%	[10]
Interest rate floor		8.50%	[15]	8.50%	[10]
Interest rate EOT		7.50%	[15]	7.50%	[10]
Outstanding Principal		$ 875		$ 875
Cost		917	[2]	886	[5]
Fair Value		917		890
Investment, Identifier [Axis]: Baby Generation, Inc., Warrant Investments
Cost	[2],[9],[12]	10
Fair Value	[9],[12]	$ 10
Shares	[9],[12]	13,587
Investment, Identifier [Axis]: Baby Generation, Inc..2
Interest rate margin	[15]	5.25%
Interest rate floor	[15]	8.50%
Interest rate EOT	[15]	7.50%
Outstanding Principal		$ 250
Cost	[2]	265
Fair Value		$ 265
Investment, Identifier [Axis]: Baby Generation, Inc.1
Interest rate margin		7.50%
Interest rate floor		10.75%
Interest rate EOT		8.00%
Outstanding Principal		$ 750
Cost	[2]	800
Fair Value		800
Investment, Identifier [Axis]: Beam Technologies Inc. , Warrant Investments
Cost	[5],[6],[11]			57
Fair Value	[6],[11]			$ 107
Shares	[6],[11]			5,344
Investment, Identifier [Axis]: Beam Technologies Inc. ,Equity Investments
Cost	[5],[6]			$ 80
Fair Value	[6]			$ 87
Shares	[6]			1,901
Investment, Identifier [Axis]: Beam Technologies Inc., Equity Investments
Cost	[2],[9]	80
Fair Value	[9]	$ 87
Shares	[9]	1,901
Investment, Identifier [Axis]: Beam Technologies Inc., Warrant Investments
Cost	[2],[9],[12]	$ 57
Fair Value	[9],[12]	$ 107
Shares	[9],[12]	5,344
Investment, Identifier [Axis]: Belong Home, Inc. , Equity Investments
Cost	[5],[6]			$ 29
Fair Value	[6]			$ 29
Shares	[6]			6,033
Investment, Identifier [Axis]: Belong Home, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 6
Fair Value	[6],[11]			$ 15
Shares	[6],[11]			7,730
Investment, Identifier [Axis]: Belong Home, Inc., Equity Investments
Cost	[2],[9]	$ 29
Fair Value	[9]	$ 29
Shares	[9]	6,033
Investment, Identifier [Axis]: Belong Home, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 6
Fair Value	[9],[12]	$ 15
Shares	[9],[12]	7,730
Investment, Identifier [Axis]: Bloom and Wild Midco 2 Limited , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 9
Fair Value	[6],[11],[13],[14]			$ 4
Shares	[6],[11],[13],[14]			192
Investment, Identifier [Axis]: Bloom and Wild Midco 2 Limited 1
Interest rate EOT		2.00%	[15],[16],[17]	2.00%	[10],[13],[14]
Outstanding Principal		$ 2,032	[16],[17]	$ 2,520	[13],[14]
Cost		2,057	[2],[16],[17]	2,523	[5],[13],[14]
Fair Value		$ 2,437	[16],[17]	$ 2,825	[13],[14]
Investment interest rate		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Investment, Identifier [Axis]: Bloom and Wild Midco 2 Limited 2
Interest rate EOT		2.00%	[15],[16],[17]	2.00%	[10],[13],[14]
Outstanding Principal		$ 1,223	[16],[17]	$ 1,512	[13],[14]
Cost		1,237	[2],[16],[17]	1,513	[5],[13],[14]
Fair Value		$ 1,466	[16],[17]	$ 1,694	[13],[14]
Investment interest rate		10.50%	[15],[16],[17]	10.50%	[10],[13],[14]
Investment, Identifier [Axis]: Bloom and Wild Midco 2 Limited 3
Interest rate EOT		2.00%	[15],[16],[17]	2.00%	[10],[13],[14]
Outstanding Principal		$ 1,328	[16],[17]	$ 1,642	[13],[14]
Cost		1,344	[2],[16],[17]	1,644	[5],[13],[14]
Fair Value		$ 1,588	[16],[17]	$ 1,836	[13],[14]
Investment interest rate		10.50%	[15],[16],[17]	10.50%	[10],[13],[14]
Investment, Identifier [Axis]: Bloom and Wild Midco 2 Limited, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 9
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	192
Investment, Identifier [Axis]: Blueboard Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 42
Fair Value	[6],[11]			$ 25
Shares	[6],[11]			209,302
Investment, Identifier [Axis]: Blueboard Inc. 1
Interest rate margin				4.75%
Interest rate floor				8.75%
Interest rate EOT				2.50%
Outstanding Principal				$ 3,000
Cost	[5]			3,024
Fair Value				$ 3,024
Investment, Identifier [Axis]: Blueboard Inc. 2
Interest rate margin	[10]			4.75%
Interest rate floor	[10]			8.75%
Interest rate EOT	[10]			2.50%
Outstanding Principal				$ 1,000
Cost	[5]			1,000
Fair Value				1,000
Investment, Identifier [Axis]: Calibrate Health, Inc. , Equity Investments
Cost	[5],[6]			333
Fair Value	[6]			$ 1
Shares	[6]			62,252
Investment, Identifier [Axis]: Calibrate Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 253
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			118,190
Investment, Identifier [Axis]: Calibrate Health, Inc., Equity Investments
Cost	[2],[9]	$ 333
Fair Value	[9]	$ 1
Shares	[9]	62,252
Investment, Identifier [Axis]: Calibrate Health, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 253
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	118,190
Investment, Identifier [Axis]: Callsign, Inc. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 180
Fair Value	[6],[11],[13],[14]			$ 180
Shares	[6],[11],[13],[14]			21,604
Investment, Identifier [Axis]: Callsign, Inc., Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 180
Fair Value	[9],[12],[16],[17]	$ 180
Shares	[9],[12],[16],[17]	21,604
Investment, Identifier [Axis]: Canvas Construction Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 79
Fair Value	[6],[11]			$ 21
Shares	[6],[11]			92,940
Investment, Identifier [Axis]: Canvas Construction Inc. 1
Interest rate floor	[10]			12.00%
Interest rate EOT	[10]			5.00%
Interest rate PIK	[10]			8.75%
Outstanding Principal				$ 3,179
Cost	[5]			3,125
Fair Value				$ 3,015
Investment, Identifier [Axis]: Canvas Construction Inc. 2
Interest rate floor	[10]			12.00%
Interest rate EOT	[10]			5.00%
Interest rate PIK	[10]			8.75%
Outstanding Principal				$ 2,649
Cost	[5]			2,604
Fair Value				$ 2,513
Investment, Identifier [Axis]: Canvas Construction Inc. 3
Interest rate floor		12.00%	[15]	12.00%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Interest rate PIK		8.75%	[15]	8.75%	[10]
Outstanding Principal		$ 1,207		$ 1,060
Cost		1,207	[2]	1,042	[5]
Fair Value		$ 1,186		$ 1,006
Investment, Identifier [Axis]: Canvas Construction Inc., 1
Interest rate floor	[15]	12.00%
Interest rate EOT	[15]	5.00%
Interest rate PIK	[15]	8.75%
Outstanding Principal		$ 3,622
Cost	[2]	3,620
Fair Value		$ 3,557
Investment, Identifier [Axis]: Canvas Construction Inc., 2
Interest rate floor	[15]	12.00%
Interest rate EOT	[15]	5.00%
Interest rate PIK	[15]	8.75%
Outstanding Principal		$ 3,018
Cost	[2]	3,017
Fair Value		2,964
Investment, Identifier [Axis]: Canvas Construction Inc., Warrant Investments
Cost	[2],[9],[12]	79
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	92,940
Investment, Identifier [Axis]: Capsule Corporation
Interest rate margin				7.75%
Interest rate floor				13.00%
Interest rate EOT				13.00%
Outstanding Principal				$ 5,000
Cost	[5]			5,425
Fair Value				5,343
Investment, Identifier [Axis]: Capsule Corporation , Warrant Investments
Cost	[5],[6],[11]			119
Fair Value	[6],[11]			$ 8
Shares	[6],[11]			45,008
Investment, Identifier [Axis]: Capsule Corporation 1 , Equity Investments
Cost	[5],[6]			$ 13
Fair Value	[6]			$ 2
Shares	[6]			863
Investment, Identifier [Axis]: Capsule Corporation 1, Equity Investments
Cost	[2],[9]	$ 13
Fair Value	[9]	$ 2
Shares	[9]	863
Investment, Identifier [Axis]: Capsule Corporation 2 , Equity Investments
Cost	[5],[6]			$ 2
Fair Value	[6]			$ 1
Shares	[6]			519
Investment, Identifier [Axis]: Capsule Corporation 2, Equity Investments
Cost	[2],[9]	$ 2
Fair Value	[9]	$ 1
Shares	[9]	519
Investment, Identifier [Axis]: Capsule Corporation, Warrant Investments
Cost	[2],[9],[12]	$ 119
Fair Value	[9],[12]	$ 8
Shares	[9],[12]	45,008
Investment, Identifier [Axis]: Cardless Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 28
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			12,903
Investment, Identifier [Axis]: Cardless Inc. 1
Interest rate margin				3.25%
Interest rate floor				6.50%
Interest rate EOT				2.00%
Outstanding Principal				$ 1,199
Cost	[5]			1,224
Fair Value				$ 1,224
Investment, Identifier [Axis]: Cardless Inc. 2
Interest rate margin				5.25%
Interest rate floor				8.50%
Interest rate EOT				5.75%
Outstanding Principal				$ 4,200
Cost	[5]			4,404
Fair Value				4,404
Investment, Identifier [Axis]: Cardless Inc.,
Interest rate margin		3.25%
Interest rate floor		6.50%
Interest rate EOT		2.00%
Outstanding Principal		$ 228
Cost	[2]	263
Fair Value		$ 263
Investment, Identifier [Axis]: Cardless Inc., 1
Interest rate margin		5.25%
Interest rate floor		8.50%
Interest rate EOT		5.75%
Outstanding Principal		$ 4,200
Cost	[2]	4,439
Fair Value		4,439
Investment, Identifier [Axis]: Cardless Inc., Warrant Investments
Cost	[2],[9],[12]	28
Fair Value	[9],[12]	$ 11
Shares	[9],[12]	20,619
Investment, Identifier [Axis]: Cart.com, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			119
Fair Value	[6],[11]			$ 160
Shares	[6],[11]			8,183
Investment, Identifier [Axis]: Cart.com, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 119
Fair Value	[9],[12]	$ 160
Shares	[9],[12]	8,183
Investment, Identifier [Axis]: Cart.com, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 6
Fair Value	[6],[11]			$ 10
Shares	[6],[11]			907
Investment, Identifier [Axis]: Cart.com, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 6
Fair Value	[9],[12]	$ 10
Shares	[9],[12]	907
Investment, Identifier [Axis]: Certamen Ventures Inc.
Interest rate margin				6.50%
Interest rate floor				15.00%
Interest rate EOT				4.00%
Outstanding Principal				$ 6,945
Cost	[5]			6,868
Fair Value				6,868
Investment, Identifier [Axis]: Certamen Ventures Inc. , Equity Investments
Cost	[5],[6]			200
Fair Value	[6]			$ 112
Shares	[6]			97,195
Investment, Identifier [Axis]: Certamen Ventures Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 42
Fair Value	[6],[11]			$ 32
Shares	[6],[11]			90,266
Investment, Identifier [Axis]: Certamen Ventures Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 42
Fair Value	[9],[12]	$ 42
Shares	[9],[12]	90,266
Investment, Identifier [Axis]: Certamen Ventures Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 85
Fair Value	[6],[11]			$ 53
Shares	[6],[11]			229,881
Investment, Identifier [Axis]: Certamen Ventures Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 85
Fair Value	[9],[12]	$ 97
Shares	[9],[12]	229,881
Investment, Identifier [Axis]: Certamen Ventures Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			$ 205
Fair Value	[6],[11]			$ 205
Shares	[6],[11]			538,703
Investment, Identifier [Axis]: Certamen Ventures Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 205
Fair Value	[9],[12]	$ 232
Shares	[9],[12]	538,703
Investment, Identifier [Axis]: Certamen Ventures Inc.,
Interest rate margin		6.50%
Interest rate floor		15.00%
Interest rate EOT		4.00%
Outstanding Principal		$ 6,582
Cost	[2]	6,613
Fair Value		6,613
Investment, Identifier [Axis]: Certamen Ventures Inc., Equity Investments
Cost	[2],[9]	200
Fair Value	[9]	$ 136
Shares	[9]	97,195
Investment, Identifier [Axis]: Cherry Technologies Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 195
Fair Value	[6],[11]			$ 432
Shares	[6],[11]			77,891
Investment, Identifier [Axis]: ClassPass Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 43
Fair Value	[6],[11]			$ 25
Shares	[6],[11]			14,085
Investment, Identifier [Axis]: ClassPass Inc., Warrant Investments
Cost	[2],[9],[12]	$ 43
Fair Value	[9],[12]	$ 25
Shares	[9],[12]	14,085
Investment, Identifier [Axis]: Cleo AI Ltd. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 82
Fair Value	[6],[11],[13],[14]			$ 66
Shares	[6],[11],[13],[14]			41,041
Investment, Identifier [Axis]: Cleo AI Ltd., Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 82
Fair Value	[9],[12],[16],[17]	$ 66
Shares	[9],[12],[16],[17]	41,041
Investment, Identifier [Axis]: Cohesity, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 21
Fair Value	[6],[11]			$ 21
Shares	[6],[11]			3,789
Investment, Identifier [Axis]: Cohesity, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 21
Fair Value	[9],[12]	$ 21
Shares	[9],[12]	3,789
Investment, Identifier [Axis]: Common Living Inc. 1
Interest rate margin		6.50%	[19]	6.50%
Interest rate floor		9.75%	[19]	9.75%
Interest rate EOT		9.25%	[19]	9.25%
Outstanding Principal		$ 2,500	[19]	$ 2,500
Cost		2,668	[2],[19]	2,659	[5]
Fair Value		$ 2,521	[19]	$ 2,462
Investment, Identifier [Axis]: Common Living Inc. 2
Interest rate margin		6.50%	[19]	6.50%
Interest rate floor		9.75%	[19]	9.75%
Interest rate EOT		7.25%	[19]	7.25%
Outstanding Principal		$ 4,742	[19]	$ 4,742
Cost		4,967	[2],[19]	4,948	[5]
Fair Value		4,694	[19]	$ 4,584
Investment, Identifier [Axis]: Construction Finance Corporation
Interest rate margin	[10]			5.25%
Interest rate floor	[10]			13.75%
Interest rate EOT	[10]			1.50%
Outstanding Principal				$ 4,428
Cost	[5]			4,350
Fair Value				4,350
Investment, Identifier [Axis]: Construction Finance Corporation 1 , Warrant Investments
Cost	[5],[6],[11]			14
Fair Value	[6],[11]			$ 14
Shares	[6],[11]			38,060
Investment, Identifier [Axis]: Construction Finance Corporation 1, Warrant Investments
Cost	[2],[9],[12]	14
Fair Value	[9],[12]	$ 20
Shares	[9],[12]	38,060
Investment, Identifier [Axis]: Construction Finance Corporation 2 , Warrant Investments
Cost	[5],[6],[11]			$ 40
Fair Value	[6],[11]			$ 40
Shares	[6],[11]			105,723
Investment, Identifier [Axis]: Construction Finance Corporation 2, Warrant Investments
Cost	[2],[9],[12]	$ 48
Fair Value	[9],[12]	$ 67
Shares	[9],[12]	126,868
Investment, Identifier [Axis]: Construction Finance Corporation, Revolver
Interest rate margin	[15]	6.75%
Interest rate floor	[15]	15.25%
Interest rate EOT	[15]	2.50%
Outstanding Principal		$ 4,927
Cost	[2]	5,043
Fair Value		5,043
Investment, Identifier [Axis]: Cresta Intelligence Inc., Equity Investments
Cost	[2],[9]	250
Fair Value	[9]	$ 250
Shares	[9]	55,441
Investment, Identifier [Axis]: Cresta Intelligence, Inc. Warrant Investments
Cost	[2],[9],[12]	$ 4
Fair Value	[9],[12]	$ 11
Shares	[9],[12]	4,967
Investment, Identifier [Axis]: Curology, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 19
Fair Value	[6],[11]			$ 8
Shares	[6],[11]			12,007
Investment, Identifier [Axis]: Curology, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 19
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	12,007
Investment, Identifier [Axis]: Dance GmbH 1
Interest rate margin	[10],[13],[14],[20]			6.75%
Interest rate floor	[10],[13],[14],[20]			10.00%
Interest rate EOT	[10],[13],[14],[20]			6.25%
Outstanding Principal		$ 723	[16],[17],[19]	$ 723	[13],[14],[20]
Cost		724	[2],[16],[17],[19]	724	[5],[13],[14],[20]
Fair Value		249	[16],[17],[19]	$ 401	[13],[14],[20]
Investment, Identifier [Axis]: Dance GmbH 2
Interest rate margin	[10],[13],[14],[20]			6.75%
Interest rate floor	[10],[13],[14],[20]			10.00%
Interest rate EOT	[10],[13],[14],[20]			6.25%
Outstanding Principal		268	[16],[17],[19]	$ 268	[13],[14],[20]
Cost		266	[2],[16],[17],[19]	266	[5],[13],[14],[20]
Fair Value		99	[16],[17],[19]	$ 154	[13],[14],[20]
Investment, Identifier [Axis]: Dance GmbH 3
Interest rate margin	[10],[13],[14],[20]			6.75%
Interest rate floor	[10],[13],[14],[20]			10.00%
Interest rate EOT	[10],[13],[14],[20]			6.25%
Outstanding Principal		69	[16],[17],[19]	$ 69	[13],[14],[20]
Cost		67	[2],[16],[17],[19]	67	[5],[13],[14],[20]
Fair Value		25	[16],[17],[19]	$ 37	[13],[14],[20]
Investment, Identifier [Axis]: Dance GmbH 4
Interest rate margin	[10],[13],[14],[20]			6.75%
Interest rate floor	[10],[13],[14],[20]			10.00%
Interest rate EOT	[10],[13],[14],[20]			6.25%
Outstanding Principal		529	[16],[17],[19]	$ 529	[13],[14],[20]
Cost		502	[2],[16],[17],[19]	502	[5],[13],[14],[20]
Fair Value		186	[16],[17],[19]	262	[13],[14],[20]
Investment, Identifier [Axis]: Dance Gmbh 2 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			21
Fair Value	[6],[11],[13],[14]			$ 11
Shares	[6],[11],[13],[14]			45
Investment, Identifier [Axis]: Dance Gmbh 1 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 37
Fair Value	[6],[11],[13],[14]			$ 8
Shares	[6],[11],[13],[14]			35
Investment, Identifier [Axis]: Dance Gmbh 1, Warrant Investments
Cost	[2],[9],[12],[16],[17]	37
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	35
Investment, Identifier [Axis]: Dance Gmbh 2, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 21
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	45
Investment, Identifier [Axis]: Dance Gmbh 3, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 8
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	34
Investment, Identifier [Axis]: Dedrone Holdings, Inc.
Interest rate margin				4.25%
Interest rate floor				7.50%
Interest rate EOT				5.50%
Outstanding Principal				$ 476
Cost	[5]			737
Fair Value				737
Investment, Identifier [Axis]: Dedrone Holdings, Inc. , Warrant Investments
Cost	[5],[6],[11]			92
Fair Value	[6],[11]			$ 197
Shares	[6],[11]			71,018
Investment, Identifier [Axis]: Dedrone Holdings, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 92
Fair Value	[9],[12]	$ 272
Shares	[9],[12]	71,018
Investment, Identifier [Axis]: Dia Styling Co. , Warrant Investments
Cost	[5],[6],[11],[18]			$ 0
Fair Value	[6],[11],[18]			$ 0
Shares	[6],[11],[18]			0
Investment, Identifier [Axis]: DialPad, Inc. , Equity Investments
Cost	[5],[6]			$ 70
Fair Value	[6]			$ 62
Shares	[6]			9,016
Investment, Identifier [Axis]: DialPad, Inc., Equity Investments
Cost	[2],[9]	$ 70
Fair Value	[9]	$ 62
Shares	[9]	9,016
Investment, Identifier [Axis]: Dialpad, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 51
Fair Value	[6],[11]			$ 12
Shares	[6],[11]			14,490
Investment, Identifier [Axis]: Dialpad, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 51
Fair Value	[9],[12]	$ 12
Shares	[9],[12]	14,490
Investment, Identifier [Axis]: Divvy Homes Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 470
Fair Value	[6],[11]			$ 1,124
Shares	[6],[11]			128,289
Investment, Identifier [Axis]: Divvy Homes Inc. 1 ,Equity Investments
Cost	[5],[6]			$ 95
Fair Value	[6]			$ 95
Shares	[6]			4,965
Investment, Identifier [Axis]: Divvy Homes Inc. 1, Equity Investments
Cost	[2],[9]	$ 95
Fair Value	[9]	$ 95
Shares	[9]	4,965
Investment, Identifier [Axis]: Divvy Homes Inc. 2 , Equity Investments
Cost	[5],[6]			$ 5
Fair Value	[6]			$ 5
Shares	[6]			261
Investment, Identifier [Axis]: Divvy Homes Inc. 2, Equity Investments
Cost	[2],[9]	$ 5
Fair Value	[9]	$ 5
Shares	[9]	261
Investment, Identifier [Axis]: Divvy Homes Inc., Warrant Investments
Cost	[2],[9],[12]	$ 470
Fair Value	[9],[12]	$ 1,124
Shares	[9],[12]	128,289
Investment, Identifier [Axis]: Don't Run Out, Inc. 1
Interest rate margin		7.75%	[15]	7.75%	[10]
Interest rate floor		11.00%	[15]	11.00%	[10]
Interest rate EOT		10.00%	[15]	10.00%	[10]
Outstanding Principal		$ 1,000		$ 1,000
Cost		1,067	[2]	1,038	[5]
Fair Value		1,067		1,038
Investment, Identifier [Axis]: Don't Run Out, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			14
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			18,398
Investment, Identifier [Axis]: Don't Run Out, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	14
Fair Value	[9],[12]	$ 6
Shares	[9],[12]	18,398
Investment, Identifier [Axis]: Don't Run Out, Inc. 2
Interest rate margin		5.00%	[15]	5.00%	[10]
Interest rate floor		10.50%	[15]	10.50%	[10]
Interest rate EOT		9.00%	[15]	9.00%	[10]
Outstanding Principal		$ 575		$ 927
Cost		637	[2]	959	[5]
Fair Value		637		959
Investment, Identifier [Axis]: Don't Run Out, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			16
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			24,531
Investment, Identifier [Axis]: Don't Run Out, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	16
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	24,531
Investment, Identifier [Axis]: Dumpling, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 6
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			17,003
Investment, Identifier [Axis]: Dumpling, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 6
Fair Value	[9],[12]	$ 6
Shares	[9],[12]	17,003
Investment, Identifier [Axis]: Earth Funeral Group, Inc.
Interest rate margin	[15]	3.25%
Interest rate floor	[15]	11.75%
Interest rate EOT	[15]	5.50%
Outstanding Principal		$ 1,430
Cost	[2]	1,417
Fair Value		1,417
Investment, Identifier [Axis]: Earth Funeral Group, Inc., Warrant Investments
Cost	[2],[9],[12]	63
Fair Value	[9],[12]	$ 63
Shares	[9],[12]	143,196
Investment, Identifier [Axis]: Eightfold AI Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 186
Fair Value	[6],[11]			$ 336
Shares	[6],[11]			69,577
Investment, Identifier [Axis]: Eightfold AI Inc., Warrant Investments
Cost	[2],[9],[12]	$ 186
Fair Value	[9],[12]	$ 336
Shares	[9],[12]	69,577
Investment, Identifier [Axis]: Elektra Mobility Inc. , Warrant Investments
Cost	[5],[6],[11],[18]			$ 0
Fair Value	[6],[11],[18]			$ 0
Shares	[6],[11],[18]			0
Investment, Identifier [Axis]: Elektra Mobility Inc., Warrant Investments
Cost	[2],[9],[12],[21]	$ 0
Fair Value	[9],[12],[21]	$ 0
Shares	[9],[12],[21]	0
Investment, Identifier [Axis]: Elodie Games, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 48
Fair Value	[6],[11]			$ 48
Shares	[6],[11]			22,874
Investment, Identifier [Axis]: Elodie Games, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 48
Fair Value	[9],[12]	$ 48
Shares	[9],[12]	22,874
Investment, Identifier [Axis]: Elsker, Inc. , Equity Investments
Cost	[5],[6]			$ 55
Fair Value	[6]			$ 55
Shares	[6]			44,444
Investment, Identifier [Axis]: Elsker, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 18
Fair Value	[6],[11]			$ 16
Shares	[6],[11]			35,492
Investment, Identifier [Axis]: Elsker, Inc., Equity Investments
Cost	[2],[9]	$ 55
Fair Value	[9]	$ 55
Shares	[9]	44,444
Investment, Identifier [Axis]: Elsker, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 18
Fair Value	[9],[12]	$ 16
Shares	[9],[12]	35,492
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 1
Interest rate floor		13.75%	[15],[19]	13.75%	[10],[20]
Interest rate EOT		4.50%	[15],[19]	4.50%	[10],[20]
Interest rate PIK		6.25%	[15],[19]	6.25%	[10],[20]
Outstanding Principal		$ 1,000	[19]	$ 1,000	[20]
Cost		1,002	[2],[19]	1,002	[5],[20]
Fair Value		998	[19]	987	[20]
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			15
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			15,280
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	15
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	15,280
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 2
Interest rate floor		14.25%	[15],[19]	14.25%	[10],[20]
Interest rate EOT		4.50%	[15],[19]	4.50%	[10],[20]
Interest rate PIK		5.75%	[15],[19]	5.75%	[10],[20]
Outstanding Principal		$ 75	[19]	$ 75	[20]
Cost		75	[2],[19]	75	[5],[20]
Fair Value		74	[19]	73	[20]
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			1
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			4,475
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	1
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	4,475
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 3
Interest rate floor		14.25%	[15],[19]	14.25%	[10],[20]
Interest rate EOT		4.50%	[15],[19]	4.50%	[10],[20]
Interest rate PIK		5.75%	[15],[19]	5.75%	[10],[20]
Outstanding Principal		$ 50	[19]	$ 50	[20]
Cost		50	[2],[19]	50	[5],[20]
Fair Value		49	[19]	50	[20]
Investment, Identifier [Axis]: Encore Music Technologies, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	1
Fair Value	[9],[12]	$ 1
Shares	[9],[12]	79,668
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. , Warrant Investments
Cost	[5],[6],[11]			12
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			2,286
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 1
Interest rate margin	[10],[20]			4.75%
Interest rate floor		15.00%	[15],[19]	8.00%	[10],[20]
Interest rate EOT		5.25%	[15],[19]	5.25%	[10],[20]
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal		$ 322	[19]	$ 322	[20]
Cost		325	[2],[19]	325	[5],[20]
Fair Value		$ 151	[19]	$ 108	[20]
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 2
Interest rate margin	[10],[20]			4.75%
Interest rate floor		15.00%	[15],[19]	8.00%	[10],[20]
Interest rate EOT		5.25%	[15],[19]	5.25%	[10],[20]
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal		$ 107	[19]	$ 107	[20]
Cost		108	[2],[19]	108	[5],[20]
Fair Value		$ 50	[19]	$ 36	[20]
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 3
Interest rate margin	[10],[20]			4.75%
Interest rate floor		15.00%	[15],[19]	8.00%	[10],[20]
Interest rate EOT		5.25%	[15],[19]	5.25%	[10],[20]
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal		$ 215	[19]	$ 215	[20]
Cost		213	[2],[19]	213	[5],[20]
Fair Value		$ 101	[19]	$ 72	[20]
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 4
Interest rate margin	[10],[20]			4.75%
Interest rate floor	[10],[20]			8.00%
Interest rate EOT	[10],[20]			5.25%
Outstanding Principal	[20]			$ 322
Cost	[5],[20]			318
Fair Value	[20]			$ 108
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 5
Interest rate margin	[10],[20]			4.75%
Interest rate floor	[10],[20]			13.25%
Interest rate EOT	[10],[20]			5.25%
Outstanding Principal	[20]			$ 11
Cost	[5],[20]			11
Fair Value	[20]			$ 3
Investment, Identifier [Axis]: Ephemeral Solutions, Inc. 6
Interest rate margin	[10],[20]			6.50%
Interest rate floor	[10],[20]			15.00%
Interest rate EOT	[10],[20]			5.25%
Outstanding Principal	[20]			$ 18
Cost	[5],[20]			18
Fair Value	[20]			6
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., 7
Interest rate floor	[15],[19]	15.00%
Interest rate EOT	[15],[19]	5.00%
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal	[19]	$ 59
Cost	[2],[19]	58
Fair Value	[19]	$ 26
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., 8
Interest rate floor	[15]	15.00%
Interest rate EOT	[15]	5.00%
Interest rate PIK	[15]	6.50%
Outstanding Principal	[19]	$ 33
Cost	[2],[19]	31
Fair Value	[19]	$ 13
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., 4
Interest rate floor	[15],[19]	15.00%
Interest rate EOT	[15],[19]	5.25%
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal	[19]	$ 322
Cost	[2],[19]	318
Fair Value	[19]	$ 151
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., 5
Interest rate floor	[15],[19]	15.00%
Interest rate EOT	[15],[19]	5.00%
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal	[19]	$ 11
Cost	[2],[19]	11
Fair Value	[19]	$ 5
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., 6
Interest rate floor	[15],[19]	15.00%
Interest rate EOT	[15],[19]	5.00%
Interest rate PIK	[15],[19]	6.50%
Outstanding Principal	[19]	$ 18
Cost	[2],[19]	18
Fair Value	[19]	8
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., Warrant Investments 1
Cost	[2],[9],[12]	12
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	2,286
Investment, Identifier [Axis]: Ephemeral Solutions, Inc., Warrant Investments 2
Cost	[2],[9],[12]	$ 1
Fair Value	[9],[12]	$ 1
Shares	[9],[12]	135,353
Investment, Identifier [Axis]: Etched.ai, Inc. Warrant Investments
Cost	[2],[9],[12]	$ 250
Fair Value	[9],[12]	$ 250
Shares	[9],[12]	30,757
Investment, Identifier [Axis]: Etched.ai, Inc., Equity Investments
Cost	[2],[9]	$ 500
Fair Value	[9]	$ 500
Shares	[9]	30,757
Investment, Identifier [Axis]: Ever/Body, Inc. , Equity Investments
Cost	[5],[6]			350
Fair Value	[6]			$ 141
Shares	[6]			195,574
Investment, Identifier [Axis]: Ever/Body, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 138
Fair Value	[6],[11]			$ 45
Shares	[6],[11]			281,262
Investment, Identifier [Axis]: Ever/Body, Inc. 1
Interest rate margin				3.75%
Interest rate floor				7.00%
Interest rate EOT				2.00%
Outstanding Principal				$ 302
Cost	[5]			314
Fair Value				$ 313
Investment, Identifier [Axis]: Ever/Body, Inc. 2
Interest rate margin	[10]			5.00%
Interest rate floor	[10]			8.25%
Interest rate EOT	[10]			7.75%
Outstanding Principal				$ 4,800
Cost	[5]			4,864
Fair Value				$ 4,809
Investment, Identifier [Axis]: Ever/Body, Inc. 3
Interest rate margin	[10]			5.00%
Interest rate floor	[10]			8.25%
Interest rate EOT	[10]			7.75%
Outstanding Principal				$ 2,250
Cost	[5]			2,277
Fair Value				2,251
Investment, Identifier [Axis]: Ever/Body, Inc., 3
Interest rate margin	[15]	5.00%
Interest rate floor	[15]	8.25%
Interest rate EOT	[15]	7.75%
Outstanding Principal		$ 3,200
Cost	[2]	3,203
Fair Value		3,203
Investment, Identifier [Axis]: Ever/Body, Inc., Equity Investments
Cost	[2],[9]	350
Fair Value	[9]	$ 141
Shares	[9]	195,574
Investment, Identifier [Axis]: Ever/Body, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 175
Fair Value	[9],[12]	$ 57
Shares	[9],[12]	357,970
Investment, Identifier [Axis]: Ever/Body, Inc.,1
Interest rate margin		5.00%
Interest rate floor		8.25%
Interest rate EOT		7.75%
Outstanding Principal		$ 4,800
Cost	[2]	5,008
Fair Value		$ 5,008
Investment, Identifier [Axis]: Ever/Body, Inc.,2
Interest rate margin		5.00%
Interest rate floor		8.25%
Interest rate EOT		7.75%
Outstanding Principal		$ 2,250
Cost	[2]	2,346
Fair Value		$ 2,346
Investment, Identifier [Axis]: Ever/Body, Inc.,4
Interest rate margin	[15]	5.00%
Interest rate floor	[15]	8.25%
Interest rate EOT	[15]	7.75%
Outstanding Principal		$ 3,000
Cost	[2]	3,003
Fair Value		3,003
Investment, Identifier [Axis]: Everdrop GmbH , Equity Investments
Cost	[5],[6],[13],[14]			52
Fair Value	[6],[13],[14]			$ 55
Shares	[6],[13],[14]			13
Investment, Identifier [Axis]: Everdrop GmbH , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 24
Fair Value	[6],[11],[13],[14]			$ 25
Shares	[6],[11],[13],[14]			14
Investment, Identifier [Axis]: Everdrop GmbH, Equity Investments
Cost	[2],[9],[16],[17]	52
Fair Value	[9],[16],[17]	$ 56
Shares	[9],[16],[17]	13
Investment, Identifier [Axis]: Everdrop GmbH, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 24
Fair Value	[9],[12],[16],[17]	$ 25
Shares	[9],[12],[16],[17]	14
Investment, Identifier [Axis]: FRVR Limited
Interest rate margin		8.25%	[15],[16],[17]	6.25%	[10],[13],[14]
Interest rate floor		11.50%	[15],[16],[17]	9.50%	[10],[13],[14]
Interest rate EOT		11.00%	[15],[16],[17]	6.00%	[10],[13],[14]
Outstanding Principal		$ 2,670	[16],[17]	$ 2,851	[13],[14]
Cost		2,694	[2],[16],[17]	2,880	[5],[13],[14]
Fair Value		2,694	[16],[17]	2,872	[13],[14]
Investment, Identifier [Axis]: FRVR Limited , Warrant Investments
Cost	[5],[6],[11],[13],[14]			60
Fair Value	[6],[11],[13],[14]			$ 62
Shares	[6],[11],[13],[14]			37,335
Investment, Identifier [Axis]: FRVR Limited, 1 Warrant Investments
Cost	[2],[9],[12],[16],[17]	60
Fair Value	[9],[12],[16],[17]	$ 38
Shares	[9],[12],[16],[17]	37,335
Investment, Identifier [Axis]: FRVR Limited, 2 Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 33
Fair Value	[9],[12],[16],[17]	$ 54
Shares	[9],[12],[16],[17]	53,335
Investment, Identifier [Axis]: FabFitFun, Inc.
Interest rate margin		7.00%		7.00%
Interest rate floor		12.00%		12.00%
Interest rate EOT		6.50%		6.50%
Outstanding Principal		$ 8,750		$ 8,750
Cost		8,694	[2]	8,552	[5]
Fair Value		8,694		8,552
Investment, Identifier [Axis]: FabFitFun, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			217
Fair Value	[6],[11]			$ 114
Shares	[6],[11]			81,572
Investment, Identifier [Axis]: FabFitFun, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	217
Fair Value	[9],[12]	$ 77
Shares	[9],[12]	81,572
Investment, Identifier [Axis]: FabFitFun, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 194
Fair Value	[6],[11]			$ 194
Shares	[6],[11]			60,692
Investment, Identifier [Axis]: FabFitFun, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 194
Fair Value	[9],[12]	$ 160
Shares	[9],[12]	60,692
Investment, Identifier [Axis]: Fabletics, Inc.
Interest rate EOT	[15]	2.50%
Interest rate PIK	[15]	9.00%
Outstanding Principal		$ 1,278
Cost	[2]	1,144
Fair Value		1,144
Investment, Identifier [Axis]: Federated Government Obligations Fund
Cost				$ 45,013
Fair Value				45,013
Investment, Identifier [Axis]: Federated Government Obligations Fund, Cash Equivalents
Cost		57,059
Fair Value		57,059
Investment, Identifier [Axis]: Filevine, Inc. , Equity Investments
Cost	[5],[6]			143
Fair Value	[6]			$ 111
Shares	[6]			22,541
Investment, Identifier [Axis]: Filevine, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 15
Fair Value	[6],[11]			$ 101
Shares	[6],[11]			74,462
Investment, Identifier [Axis]: Filevine, Inc., Equity Investments
Cost	[2],[9]	143
Fair Value	[9]	$ 195
Shares	[9]	22,541
Investment, Identifier [Axis]: Filevine, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 15
Fair Value	[9],[12]	$ 353
Shares	[9],[12]	74,462
Investment, Identifier [Axis]: FireHydrant, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 115
Fair Value	[6],[11]			$ 125
Shares	[6],[11]			113,050
Investment, Identifier [Axis]: FireHydrant, Inc. 1
Interest rate margin				4.00%
Interest rate floor				12.25%
Interest rate EOT				7.25%
Outstanding Principal				$ 5,200
Cost	[5]			5,164
Fair Value				$ 5,164
Investment, Identifier [Axis]: FireHydrant, Inc. 2
Interest rate margin	[10]			4.00%
Interest rate floor	[10]			12.25%
Interest rate EOT	[10]			7.25%
Outstanding Principal				$ 1,600
Cost	[5]			1,577
Fair Value				1,577
Investment, Identifier [Axis]: FireHydrant, Inc., Growth Capital Loan 1
Interest rate margin		4.00%
Interest rate floor		12.25%
Interest rate EOT		7.25%
Outstanding Principal		$ 5,200
Cost	[2]	5,288
Fair Value		$ 5,288
Investment, Identifier [Axis]: FireHydrant, Inc., Growth Capital Loan 2
Interest rate margin		4.00%
Interest rate floor		12.25%
Interest rate EOT		7.25%
Outstanding Principal		$ 1,600
Cost	[2]	1,614
Fair Value		$ 1,614
Investment, Identifier [Axis]: FireHydrant, Inc., Growth Capital Loan 3
Interest rate margin		4.00%
Interest rate floor		12.25%
Interest rate EOT		7.25%
Outstanding Principal		$ 600
Cost	[2]	596
Fair Value		$ 596
Investment, Identifier [Axis]: FireHydrant, Inc., Growth Capital Loan 4
Interest rate margin		4.00%
Interest rate floor		12.25%
Interest rate EOT		7.25%
Outstanding Principal		$ 600
Cost	[2]	595
Fair Value		595
Investment, Identifier [Axis]: FireHydrant, Inc., Warrant Investments
Cost	[2],[9],[12]	115
Fair Value	[9],[12]	$ 188
Shares	[9],[12]	347,863
Investment, Identifier [Axis]: Firemaps, Inc. , Warrant Investments
Cost	[5],[6],[11]			33
Fair Value	[6],[11]			$ 33
Shares	[6],[11]			24,539
Investment, Identifier [Axis]: Firemaps, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 33
Fair Value	[9],[12]	$ 33
Shares	[9],[12]	24,539
Investment, Identifier [Axis]: FitOn, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 74
Fair Value	[9],[12]	$ 74
Shares	[9],[12]	33,548
Investment, Identifier [Axis]: FitOn, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 7
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	3,355
Investment, Identifier [Axis]: FitOn, Inc., 1
Interest rate margin	[15]	4.00%
Interest rate floor	[15]	11.25%
Interest rate EOT	[15]	2.00%
Outstanding Principal		$ 4,444
Cost	[2]	4,362
Fair Value		$ 4,362
Investment, Identifier [Axis]: FitOn, Inc., 2
Interest rate margin	[15]	4.00%
Interest rate floor	[15]	11.25%
Interest rate EOT	[15]	2.00%
Outstanding Principal		$ 556
Cost	[2]	545
Fair Value		$ 545
Investment, Identifier [Axis]: FitOn, Inc., 3
Interest rate margin	[15]	4.00%
Interest rate floor	[15]	11.25%
Interest rate EOT	[15]	2.00%
Outstanding Principal		$ 500
Cost	[2]	489
Fair Value		$ 489
Investment, Identifier [Axis]: FlashParking, Inc.
Interest rate margin		1.75%
Interest rate floor		12.75%
Interest rate PIK		2.50%
Outstanding Principal		$ 10,069
Cost	[2]	9,911
Fair Value		10,013
Investment, Identifier [Axis]: FlashParking, Inc. 1
Interest rate margin				7.00%
Interest rate floor				10.25%
Interest rate EOT				7.00%
Outstanding Principal				$ 10,000
Cost	[5]			10,468
Fair Value				10,489
Investment, Identifier [Axis]: FlashParking, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			360
Fair Value	[6],[11]			$ 576
Shares	[6],[11]			93,767
Investment, Identifier [Axis]: FlashParking, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	366
Fair Value	[9],[12]	$ 582
Shares	[9],[12]	93,767
Investment, Identifier [Axis]: FlashParking, Inc. 2
Interest rate margin				5.00%
Interest rate floor				8.25%
Interest rate EOT				4.50%
Outstanding Principal				$ 347
Cost	[5]			360
Fair Value				361
Investment, Identifier [Axis]: FlashParking, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			90
Fair Value	[6],[11]			$ 144
Shares	[6],[11]			23,442
Investment, Identifier [Axis]: FlashParking, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 90
Fair Value	[9],[12]	$ 146
Shares	[9],[12]	23,442
Investment, Identifier [Axis]: FlashParking, Inc. 3
Interest rate margin				5.00%
Interest rate floor				8.25%
Interest rate EOT				4.50%
Outstanding Principal				$ 1,209
Cost	[5]			1,210
Fair Value				1,213
Investment, Identifier [Axis]: FlashParking, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 70
Fair Value	[9],[12]	$ 70
Shares	[9],[12]	25,838
Investment, Identifier [Axis]: Flashparking, Inc. , Equity Investments
Cost	[5],[6]			272
Fair Value	[6]			$ 264
Shares	[6]			19,870
Investment, Identifier [Axis]: Flashparking, Inc., Equity Investments
Cost	[2],[9]	$ 272
Fair Value	[9]	$ 268
Shares	[9]	19,870
Investment, Identifier [Axis]: Flink SE , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 23
Fair Value	[6],[11],[13],[14]			$ 0
Shares	[6],[11],[13],[14]			18
Investment, Identifier [Axis]: Flink SE 1
Interest rate EOT	[10],[13],[14]			6.75%
Outstanding Principal	[13],[14]			$ 1,250
Cost	[5],[13],[14]			1,274
Fair Value	[13],[14]			$ 1,034
Investment interest rate	[10],[13],[14]			9.75%
Investment, Identifier [Axis]: Flink SE 2
Interest rate EOT	[10],[13],[14]			6.75%
Outstanding Principal	[13],[14]			$ 1,250
Cost	[5],[13],[14]			1,263
Fair Value	[13],[14]			$ 977
Investment interest rate	[10],[13],[14]			9.75%
Investment, Identifier [Axis]: Flink SE, Growth Capital Loan 1
Interest rate EOT	[15],[16],[17]	6.75%
Outstanding Principal	[16],[17]	$ 1,334
Cost	[2],[16],[17]	1,369
Fair Value	[16],[17]	$ 899
Investment interest rate	[15],[16],[17]	9.75%
Investment, Identifier [Axis]: Flink SE, Growth Capital Loan 2
Interest rate EOT	[15],[16],[17]	6.75%
Outstanding Principal	[16],[17]	$ 1,334
Cost	[2],[16],[17]	1,359
Fair Value	[16],[17]	$ 899
Investment interest rate	[15],[16],[17]	9.75%
Investment, Identifier [Axis]: Flink SE, Warrant Investments 1
Cost	[2],[9],[12],[16],[17]	$ 23
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	18
Investment, Identifier [Axis]: Flink SE, Warrant Investments 2
Cost	[2],[9],[12],[16],[17],[21]	$ 0
Fair Value	[9],[12],[16],[17],[21]	$ 0
Shares	[9],[12],[16],[17],[21]	0
Investment, Identifier [Axis]: Flo Health UK Limited , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 10
Fair Value	[6],[11],[13],[14]			$ 14
Shares	[6],[11],[13],[14]			1,163
Investment, Identifier [Axis]: Flo Health UK Limited 1
Interest rate margin		5.75%	[15],[16],[17]	5.75%	[10],[13],[14]
Interest rate floor		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Interest rate EOT		3.00%	[15],[16],[17]	3.00%	[10],[13],[14]
Outstanding Principal		$ 667	[16],[17]	$ 667	[13],[14]
Cost		655	[2],[16],[17]	662	[5],[13],[14]
Fair Value		$ 656	[16],[17]	$ 662	[13],[14]
Investment, Identifier [Axis]: Flo Health UK Limited 2
Interest rate margin		5.75%	[15],[16],[17]	5.75%	[10],[13],[14]
Interest rate floor		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Interest rate EOT		3.00%	[15],[16],[17]	3.00%	[10],[13],[14]
Outstanding Principal		$ 700	[16],[17]	$ 700	[13],[14]
Cost		685	[2],[16],[17]	692	[5],[13],[14]
Fair Value		$ 687	[16],[17]	$ 692	[13],[14]
Investment, Identifier [Axis]: Flo Health UK Limited 3
Interest rate margin		5.75%	[15],[16],[17]	5.75%	[10],[13],[14]
Interest rate floor		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Interest rate EOT		3.00%	[15],[16],[17]	3.00%	[10],[13],[14]
Outstanding Principal		$ 460	[16],[17]	$ 460	[13],[14]
Cost		448	[2],[16],[17]	453	[5],[13],[14]
Fair Value		$ 450	[16],[17]	$ 453	[13],[14]
Investment, Identifier [Axis]: Flo Health UK Limited 4
Interest rate margin		5.75%	[15],[16],[17]	5.75%	[10],[13],[14]
Interest rate floor		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Interest rate EOT		3.00%	[15],[16],[17]	3.00%	[10],[13],[14]
Outstanding Principal		$ 173	[16],[17]	$ 173	[13],[14]
Cost		177	[2],[16],[17]	174	[5],[13],[14]
Fair Value		177	[16],[17]	174	[13],[14]
Investment, Identifier [Axis]: Flo Health UK Limited, Warrant Investments
Cost	[2],[9],[12],[16],[17]	10
Fair Value	[9],[12],[16],[17]	$ 22
Shares	[9],[12],[16],[17]	1,079
Investment, Identifier [Axis]: Flo Health, Inc., Equity Investments
Cost	[2],[9],[16],[17]	$ 500
Fair Value	[9],[16],[17]	$ 500
Shares	[9],[16],[17]	8,387
Investment, Identifier [Axis]: Foodology Inc. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			12
Fair Value	[6],[11],[13],[14]			$ 9
Shares	[6],[11],[13],[14]			2,869
Investment, Identifier [Axis]: Foodology Inc. 1
Interest rate margin	[10],[13],[14]			5.75%
Interest rate floor	[10],[13],[14]			9.00%
Interest rate EOT	[10],[13],[14]			5.50%
Outstanding Principal	[13],[14]			$ 22
Cost	[5],[13],[14]			23
Fair Value	[13],[14]			$ 23
Investment, Identifier [Axis]: Foodology Inc. 2
Interest rate margin	[10],[13],[14]			5.75%
Interest rate floor	[10],[13],[14]			9.00%
Interest rate EOT	[10],[13],[14]			5.50%
Outstanding Principal	[13],[14]			$ 56
Cost	[5],[13],[14]			58
Fair Value	[13],[14]			$ 58
Investment, Identifier [Axis]: Foodology Inc. 3
Interest rate margin	[10],[13],[14]			6.25%
Interest rate floor	[10],[13],[14]			9.50%
Interest rate EOT	[10],[13],[14]			6.00%
Outstanding Principal	[13],[14]			$ 369
Cost	[5],[13],[14]			383
Fair Value	[13],[14]			$ 383
Investment, Identifier [Axis]: Foodology Inc. 4
Interest rate margin	[10],[13],[14]			6.75%
Interest rate floor	[10],[13],[14]			10.00%
Interest rate EOT	[10],[13],[14]			6.50%
Outstanding Principal	[13],[14]			$ 372
Cost	[5],[13],[14]			369
Fair Value	[13],[14]			369
Investment, Identifier [Axis]: Foodology Inc., Growth Capital Loan 1
Interest rate margin	[15],[16],[17]	5.75%
Interest rate floor	[15],[16],[17]	9.00%
Interest rate EOT	[15],[16],[17]	5.50%
Outstanding Principal	[16],[17]	$ 10
Cost	[2],[16],[17]	11
Fair Value	[16],[17]	$ 11
Investment, Identifier [Axis]: Foodology Inc., Growth Capital Loan 2
Interest rate margin	[15],[16],[17]	5.75%
Interest rate floor	[15],[16],[17]	9.00%
Interest rate EOT	[15],[16],[17]	5.50%
Outstanding Principal	[16],[17]	$ 28
Cost	[2],[16],[17]	31
Fair Value	[16],[17]	$ 31
Investment, Identifier [Axis]: Foodology Inc., Growth Capital Loan 3
Interest rate margin	[15],[16],[17]	6.25%
Interest rate floor	[15],[16],[17]	9.50%
Interest rate EOT	[15],[16],[17]	6.00%
Outstanding Principal	[16],[17]	$ 183
Cost	[2],[16],[17]	208
Fair Value	[16],[17]	$ 208
Investment, Identifier [Axis]: Foodology Inc., Growth Capital Loan 4
Interest rate margin	[15],[16],[17]	6.75%
Interest rate floor	[15],[16],[17]	10.00%
Interest rate EOT	[15],[16],[17]	6.50%
Outstanding Principal	[16],[17]	$ 372
Cost	[2],[16],[17]	378
Fair Value	[16],[17]	378
Investment, Identifier [Axis]: Foodology Inc., Warrant Investments
Cost	[2],[9],[12],[16],[17]	12
Fair Value	[9],[12],[16],[17]	$ 9
Shares	[9],[12],[16],[17]	2,869
Investment, Identifier [Axis]: Forte Labs, Inc. Equity Investments
Cost	[5],[6]			250
Fair Value	[6]			$ 303
Shares	[6]			184,679
Investment, Identifier [Axis]: Forte Labs, Inc., Equity Investments
Cost	[2],[9]	$ 250
Fair Value	[9]	$ 303
Shares	[9]	184,679
Investment, Identifier [Axis]: Forte Labs, Inc., Warrant Investments
Cost		$ 65	[2],[9],[12]	$ 65	[5],[6],[11]
Fair Value		$ 223	[9],[12]	$ 223	[6],[11]
Shares		318,571	[9],[12]	318,571	[6],[11]
Investment, Identifier [Axis]: Forum Brands, LLC , Equity Investments
Cost	[5],[6]			$ 90
Fair Value	[6]			$ 31
Shares	[6]			493
Investment, Identifier [Axis]: Forum Brands, LLC 1
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 1,669		$ 1,669
Cost		1,713	[2]	1,669	[5]
Fair Value		$ 1,582		$ 1,649
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 1 , Warrant Investments
Cost	[5],[6],[11]			$ 149
Fair Value	[6],[11]			$ 204
Shares	[6],[11]			14,143
Investment, Identifier [Axis]: Forum Brands, LLC 1, Warrant Investments
Cost	[2],[9],[12]	$ 146
Fair Value	[9],[12]	$ 44
Shares	[9],[12]	14,143
Investment, Identifier [Axis]: Forum Brands, LLC 10
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 1,836		$ 1,836
Cost		1,908	[2]	1,877	[5]
Fair Value		$ 1,741		$ 1,854
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 11
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 700		$ 700
Cost		721	[2]	709	[5]
Fair Value		$ 663		$ 699
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 12
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 263		$ 263
Cost		271	[2]	267	[5]
Fair Value		$ 250		$ 263
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 13
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 1,710		$ 1,710
Cost		1,737	[2]	1,705	[5]
Fair Value		$ 1,622		$ 1,676
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 14
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 3,078		$ 3,078
Cost		3,116	[2]	3,057	[5]
Fair Value		$ 2,919		$ 3,005
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 15
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 184		$ 184
Cost		185	[2]	182	[5]
Fair Value		$ 174		$ 178
Investment interest rate		12.00%	[15]	12.00%	[10]
Investment, Identifier [Axis]: Forum Brands, LLC 16
Interest rate margin		5.25%	[15]	5.25%	[10]
Interest rate floor		11.50%	[15]	11.50%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Outstanding Principal		$ 180		$ 180
Cost		178	[2]	173	[5]
Fair Value		$ 178		$ 173
Investment, Identifier [Axis]: Forum Brands, LLC 17
Interest rate margin		5.25%	[15]	5.25%	[10]
Interest rate floor		11.50%	[15]	11.50%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Outstanding Principal		$ 1,369		$ 1,369
Cost		1,349	[2]	1,315	[5]
Fair Value		$ 1,349		$ 1,315
Investment, Identifier [Axis]: Forum Brands, LLC 18
Interest rate margin		5.25%	[15]	5.25%	[10]
Interest rate floor		11.50%	[15]	11.50%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Outstanding Principal		$ 104		$ 104
Cost		102	[2]	100	[5]
Fair Value		102		100
Investment, Identifier [Axis]: Forum Brands, LLC 19
Outstanding Principal		2,179		2,179	[6]
Cost		2,179	[2]	2,179	[5],[6]
Fair Value		$ 1,758		$ 1,573	[6]
Investment, Identifier [Axis]: Forum Brands, LLC 2
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 263		$ 263
Cost		275	[2]	272	[5]
Fair Value		$ 249		$ 269
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 2 , Warrant Investments
Cost	[5],[6],[11]			$ 188
Fair Value	[6],[11]			$ 192
Shares	[6],[11]			12,964
Investment, Identifier [Axis]: Forum Brands, LLC 2, Warrant Investments
Cost	[2],[9],[12]	$ 188
Fair Value	[9],[12]	$ 41
Shares	[9],[12]	12,964
Investment, Identifier [Axis]: Forum Brands, LLC 20
Interest rate margin	[15]	5.25%
Interest rate floor	[15]	11.50%
Interest rate EOT	[15]	5.00%
Outstanding Principal		$ 147
Cost	[2]	141
Fair Value		$ 141
Investment, Identifier [Axis]: Forum Brands, LLC 3
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 315		$ 315
Cost		329	[2]	326	[5]
Fair Value		$ 299		$ 322
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 3 , Warrant Investments
Cost	[5],[6],[11]			$ 42
Fair Value	[6],[11]			$ 42
Shares	[6],[11]			2,829
Investment, Identifier [Axis]: Forum Brands, LLC 3, Warrant Investments
Cost	[2],[9],[12]	$ 42
Fair Value	[9],[12]	$ 9
Shares	[9],[12]	2,829
Investment, Identifier [Axis]: Forum Brands, LLC 4
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 1,458		$ 1,458
Cost		1,521	[2]	1,505	[5]
Fair Value		$ 1,383		$ 1,484
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 5
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 947		$ 947
Cost		985	[2]	975	[5]
Fair Value		$ 898		$ 960
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 6
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 2,540		$ 2,540
Cost		2,643	[2]	2,615	[5]
Fair Value		$ 2,409		$ 2,576
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 7
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 848		$ 848
Cost		884	[2]	870	[5]
Fair Value		$ 804		$ 860
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 8
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 324		$ 324
Cost		338	[2]	332	[5]
Fair Value		$ 307		$ 329
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC 9
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 57		$ 57
Cost		59	[2]	58	[5]
Fair Value		$ 54		$ 58
Investment interest rate		12.00%		12.00%
Investment, Identifier [Axis]: Forum Brands, LLC, Equity Investments
Cost	[2],[9]	$ 90
Fair Value	[9]	$ 25
Shares	[9]	493
Investment, Identifier [Axis]: Found Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 1
Fair Value	[6],[11]			$ 1
Shares	[6],[11]			2,465
Investment, Identifier [Axis]: Found Health, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 1
Fair Value	[9],[12]	$ 1
Shares	[9],[12]	2,465
Investment, Identifier [Axis]: GoEuro Corp. 1
Interest rate EOT	[13],[14]			10.50%
Outstanding Principal	[13],[14]			$ 5,000
Cost	[5],[13],[14]			5,207
Fair Value	[13],[14]			$ 5,257
Investment interest rate	[13],[14]			12.00%
Investment, Identifier [Axis]: GoEuro Corp. 1 , Equity Investments
Cost	[5],[6],[13],[14]			$ 82
Fair Value	[6],[13],[14]			$ 133
Shares	[6],[13],[14]			1,326
Investment, Identifier [Axis]: GoEuro Corp. 1 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 90
Fair Value	[6],[11],[13],[14]			$ 93
Shares	[6],[11],[13],[14]			2,775
Investment, Identifier [Axis]: GoEuro Corp. 2
Interest rate EOT	[13],[14]			10.50%
Outstanding Principal	[13],[14]			$ 2,500
Cost	[5],[13],[14]			2,603
Fair Value	[13],[14]			$ 2,629
Investment interest rate	[13],[14]			12.00%
Investment, Identifier [Axis]: GoEuro Corp. 2 , Equity Investments
Cost	[5],[6],[13],[14]			$ 79
Fair Value	[6],[13],[14]			$ 103
Shares	[6],[13],[14]			1,027
Investment, Identifier [Axis]: GoEuro Corp. 2 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 65
Fair Value	[6],[11],[13],[14]			$ 105
Shares	[6],[11],[13],[14]			2,439
Investment, Identifier [Axis]: GoEuro Corp. 3 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 167
Fair Value	[6],[11],[13],[14]			$ 167
Shares	[6],[11],[13],[14]			3,902
Investment, Identifier [Axis]: Good Eggs, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 142
Fair Value	[6],[11]			$ 12
Shares	[6],[11]			83,265
Investment, Identifier [Axis]: Good Eggs, Inc. 1
Interest rate margin				0.50%
Interest rate floor				8.00%
Interest rate EOT				7.75%
Outstanding Principal				$ 3,532
Cost	[5]			3,691
Fair Value				$ 3,605
Investment, Identifier [Axis]: Good Eggs, Inc. 2
Interest rate margin	[10]			0.50%
Interest rate floor	[10]			8.00%
Interest rate EOT	[10]			6.00%
Outstanding Principal				$ 3,000
Cost	[5]			3,066
Fair Value				3,004
Investment, Identifier [Axis]: Grey Orange International Inc. , Warrant Investments
Cost	[5],[6],[11]			92
Fair Value	[6],[11]			$ 32
Shares	[6],[11]			13,940
Investment, Identifier [Axis]: Grey Orange International Inc., Warrant Investments
Cost	[2],[9],[12]	$ 92
Fair Value	[9],[12]	$ 61
Shares	[9],[12]	26,386
Investment, Identifier [Axis]: Grove Collaborative, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 72
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			33,038
Investment, Identifier [Axis]: Grove Collaborative, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 72
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	33,038
Investment, Identifier [Axis]: GrubMarket, Inc., Equity Investments
Cost	[2],[9]	$ 4,178
Fair Value	[9]	$ 4,178
Investment, Identifier [Axis]: HI LLC (Kernel)
Interest rate margin		1.50%
Interest rate floor		15.50%		15.50%
Interest rate EOT		8.50%		8.50%
Interest rate PIK		6.50%		6.50%
Outstanding Principal		$ 2,493		$ 2,373
Cost		2,652	[2]	2,482	[5]
Fair Value		2,576		$ 2,432
Investment interest rate				1.50%
Investment, Identifier [Axis]: HI LLC (Kernel) 1 , Warrant Investments
Cost	[5],[6],[11]			$ 48
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			49,425
Investment, Identifier [Axis]: HI LLC (Kernel) 1, Warrant Investments
Cost	[2],[9],[12]	48
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	49,425
Investment, Identifier [Axis]: HI LLC (Kernel) 2 , Warrant Investments
Cost	[5],[6],[11]			$ 44
Fair Value	[6],[11]			$ 2
Shares	[6],[11]			175,000
Investment, Identifier [Axis]: HI LLC (Kernel) 2, Warrant Investments
Cost	[2],[9],[12]	$ 44
Fair Value	[9],[12]	$ 2
Shares	[9],[12]	175,000
Investment, Identifier [Axis]: Habyt GmbH , Equity Investments
Cost	[5],[6]			$ 443
Fair Value	[6]			$ 252
Shares	[6]			400
Investment, Identifier [Axis]: Habyt GmbH, Equity Investments
Cost	[2],[9]	$ 443
Fair Value	[9]	$ 255
Shares	[9]	400
Investment, Identifier [Axis]: Headout Inc.
Cost	[2],[9],[12]	$ 58
Fair Value	[9],[12]	$ 20
Shares	[9],[12]	8,991
Investment, Identifier [Axis]: Headout Inc., Growth Capital Loan
Interest rate margin	[15]	3.25%
Interest rate floor	[15]	11.75%
Interest rate EOT	[15]	4.25%
Outstanding Principal		$ 2,351
Cost	[2]	2,322
Fair Value		2,322
Investment, Identifier [Axis]: Highbeam, Inc.
Interest rate margin	[10]			4.25%
Interest rate floor	[10]			12.00%
Outstanding Principal				$ 2,688
Cost	[5]			2,665
Fair Value				2,665
Investment, Identifier [Axis]: Highbeam, Inc. , Warrant Investments
Cost	[5],[6],[11]			2
Fair Value	[6],[11]			$ 2
Shares	[6],[11]			37,361
Investment, Identifier [Axis]: Highbeam, Inc., Warrant Investments
Cost	[2],[9],[12]	2
Fair Value	[9],[12]	$ 6
Shares	[9],[12]	40,380
Investment, Identifier [Axis]: Hiya, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 54
Fair Value	[6],[11]			$ 54
Shares	[6],[11]			115,073
Investment, Identifier [Axis]: Hiya, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 54
Fair Value	[9],[12]	$ 54
Shares	[9],[12]	115,073
Investment, Identifier [Axis]: Homelight, Inc 1
Outstanding Principal		$ 500
Cost	[2]	496
Fair Value		$ 493
Investment interest rate	[15]	17.25%
Investment, Identifier [Axis]: Homelight, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 8
Fair Value	[6],[11]			$ 1
Shares	[6],[11]			2,446
Investment, Identifier [Axis]: Homelight, Inc. 2
Outstanding Principal		$ 250
Cost	[2]	247
Fair Value		$ 246
Investment interest rate	[15]	18.00%
Investment, Identifier [Axis]: Homelight, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 8
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	3,988
Investment, Identifier [Axis]: Homelight, Inc.1
Outstanding Principal				$ 500
Cost	[5]			494
Fair Value				$ 490
Investment interest rate	[10]			17.25%
Investment, Identifier [Axis]: Homelight, Inc.2
Outstanding Principal				$ 250
Cost	[5]			246
Fair Value				$ 244
Investment interest rate	[10]			18.00%
Investment, Identifier [Axis]: Homeward, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 148
Fair Value	[6],[11]			$ 18
Shares	[6],[11]			38,302
Investment, Identifier [Axis]: Homeward, Inc. 1
Interest rate margin		6.50%		6.50%
Interest rate floor		9.75%		9.75%
Interest rate EOT		9.75%		9.75%
Outstanding Principal		$ 4,000		$ 4,000
Cost		4,229	[2]	4,163	[5]
Fair Value		$ 4,033		$ 4,016
Investment, Identifier [Axis]: Homeward, Inc. 2
Interest rate margin		6.25%		6.25%	[10]
Interest rate floor		9.50%		9.50%	[10]
Interest rate EOT		2.25%		2.25%	[10]
Outstanding Principal		$ 1,056		$ 4,000
Cost		1,137	[2]	4,007	[5]
Fair Value		1,133		3,971
Investment, Identifier [Axis]: Homeward, Inc., Warrant Investments
Cost	[2],[9],[12]	148
Fair Value	[9],[12]	$ 3
Shares	[9],[12]	38,302
Investment, Identifier [Axis]: Honor Technology, Inc. , Warrant Investments
Cost	[5],[6],[11]			50
Fair Value	[6],[11]			$ 192
Shares	[6],[11]			130,618
Investment, Identifier [Axis]: Honor Technology, Inc. 1 , Equity Investments
Cost	[5],[6]			$ 198
Fair Value	[6]			$ 228
Shares	[6]			82,443
Investment, Identifier [Axis]: Honor Technology, Inc. 1, Equity Investments
Cost	[2],[9]	$ 198
Fair Value	[9]	$ 228
Shares	[9]	82,443
Investment, Identifier [Axis]: Honor Technology, Inc. 2 , Equity Investments
Cost	[5],[6]			$ 66
Fair Value	[6]			$ 66
Shares	[6]			20,932
Investment, Identifier [Axis]: Honor Technology, Inc. 2, Equity Investments
Cost	[2],[9]	$ 66
Fair Value	[9]	$ 66
Shares	[9]	20,932
Investment, Identifier [Axis]: Honor Technology, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 50
Fair Value	[9],[12]	$ 192
Shares	[9],[12]	130,618
Investment, Identifier [Axis]: Hover Inc , Equity Investments
Cost	[5],[6]			$ 58
Fair Value	[6]			$ 66
Shares	[6]			10,595
Investment, Identifier [Axis]: Hover Inc.
Interest rate margin		3.00%		4.75%
Interest rate floor		9.50%		9.50%
Interest rate EOT		6.00%		5.50%
Outstanding Principal		$ 4,000		$ 5,000
Cost		3,949	[2]	4,988	[5]
Fair Value		3,949		4,988
Investment, Identifier [Axis]: Hover Inc. , Warrant Investments
Cost	[5],[6],[11]			77
Fair Value	[6],[11]			$ 90
Shares	[6],[11]			45,910
Investment, Identifier [Axis]: Hover Inc. 1, Warrant Investments
Cost	[2],[9],[12]	77
Fair Value	[9],[12]	$ 90
Shares	[9],[12]	45,910
Investment, Identifier [Axis]: Hover Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 18
Fair Value	[9],[12]	$ 18
Shares	[9],[12]	9,182
Investment, Identifier [Axis]: Hover Inc., Equity Investments
Cost	[2],[9]	$ 58
Fair Value	[9]	$ 66
Shares	[9]	10,595
Investment, Identifier [Axis]: Hydrow, Inc. 1
Interest rate margin				7.75%
Interest rate floor				11.00%
Interest rate EOT				10.00%
Outstanding Principal				$ 1,650
Cost	[5]			1,757
Fair Value				1,705
Investment, Identifier [Axis]: Hydrow, Inc. 1 , Equity Investments
Cost	[5],[6]			166
Fair Value	[6]			$ 6
Shares	[6]			42,642
Investment, Identifier [Axis]: Hydrow, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 70
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			50,863
Investment, Identifier [Axis]: Hydrow, Inc. 1, Equity Investments
Cost	[2],[9]	$ 166
Fair Value	[9]	$ 6
Shares	[9]	42,642
Investment, Identifier [Axis]: Hydrow, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 70
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	74,157
Investment, Identifier [Axis]: Hydrow, Inc. 2
Interest rate margin				7.75%
Interest rate floor				11.00%
Interest rate EOT				10.00%
Outstanding Principal				$ 3,300
Cost	[5]			3,491
Fair Value				3,388
Investment, Identifier [Axis]: Hydrow, Inc. 2 , Equity Investments
Cost	[5],[6]			165
Fair Value	[6]			$ 6
Shares	[6]			22,881
Investment, Identifier [Axis]: Hydrow, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 35
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			22,299
Investment, Identifier [Axis]: Hydrow, Inc. 2, Equity Investments
Cost	[2],[9]	$ 165
Fair Value	[9]	$ 6
Shares	[9]	22,881
Investment, Identifier [Axis]: Hydrow, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 35
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	22,299
Investment, Identifier [Axis]: Hydrow, Inc. 3
Interest rate margin				7.00%
Interest rate floor				10.25%
Interest rate EOT				10.00%
Outstanding Principal				$ 5,025
Cost	[5]			5,300
Fair Value				5,118
Investment, Identifier [Axis]: Hydrow, Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			25
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			13,936
Investment, Identifier [Axis]: Hydrow, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 25
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	13,936
Investment, Identifier [Axis]: Hydrow, Inc. 4
Interest rate margin				7.00%
Interest rate floor				10.25%
Interest rate EOT				10.00%
Outstanding Principal				$ 5,025
Cost	[5]			5,297
Fair Value				$ 5,116
Investment, Identifier [Axis]: Hydrow, Inc., Growth Capital Loan 1
Interest rate margin		7.75%
Interest rate floor		11.00%
Interest rate EOT		10.00%
Outstanding Principal		$ 1,650
Cost	[2]	1,799
Fair Value		$ 1,785
Investment, Identifier [Axis]: Hydrow, Inc., Growth Capital Loan 2
Interest rate margin		7.75%
Interest rate floor		11.00%
Interest rate EOT		10.00%
Outstanding Principal		$ 3,300
Cost	[2]	3,593
Fair Value		$ 3,564
Investment, Identifier [Axis]: Hydrow, Inc., Growth Capital Loan 3
Interest rate margin		7.00%
Interest rate floor		10.25%
Interest rate EOT		10.00%
Outstanding Principal		$ 5,025
Cost	[2]	5,441
Fair Value		$ 5,370
Investment, Identifier [Axis]: Hydrow, Inc., Growth Capital Loan 4
Interest rate margin		7.00%
Interest rate floor		10.25%
Interest rate EOT		10.00%
Outstanding Principal		$ 5,025
Cost	[2]	5,440
Fair Value		5,368
Investment, Identifier [Axis]: Idelic Inc. 1
Interest rate margin	[10]			8.25%
Interest rate floor	[10]			11.50%
Interest rate EOT	[10]			9.50%
Outstanding Principal				$ 4,000
Cost	[5]			4,080
Fair Value				4,080
Investment, Identifier [Axis]: Idelic Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			46
Fair Value	[6],[11]			$ 11
Shares	[6],[11]			30,551
Investment, Identifier [Axis]: Idelic Inc. 1, Warrant Investments
Cost	[2],[9],[12]	46
Fair Value	[9],[12]	$ 5
Shares	[9],[12]	30,551
Investment, Identifier [Axis]: Idelic Inc. 2
Interest rate margin	[10]			2.50%
Interest rate floor	[10]			10.00%
Interest rate EOT	[10]			2.50%
Outstanding Principal				$ 2,800
Cost	[5]			2,775
Fair Value				2,775
Investment, Identifier [Axis]: Idelic Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			13
Fair Value	[6],[11]			$ 13
Shares	[6],[11]			36,661
Investment, Identifier [Axis]: Idelic Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 13
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	36,661
Investment, Identifier [Axis]: Idelic Inc., Growth Capital Loan 2
Interest rate margin	[15]	2.50%
Interest rate floor	[15]	10.00%
Interest rate EOT	[15]	2.50%
Outstanding Principal		$ 2,800
Cost	[2]	2,806
Fair Value		$ 2,806
Investment, Identifier [Axis]: Idelic Inc., Growth Capital Loan 1
Interest rate margin		8.25%
Interest rate floor		11.50%
Interest rate EOT		9.50%
Outstanding Principal		$ 4,000
Cost	[2]	4,174
Fair Value		4,174
Investment, Identifier [Axis]: Immersive Group Gaming LTD , Warrant Investments
Cost	[5],[6],[11],[14]			$ 115
Fair Value	[6],[11],[14]			$ 86
Shares	[6],[11],[14]			451,039
Investment, Identifier [Axis]: Immersive Group Gaming LTD, Warrant Investments
Cost	[2],[9],[12],[17]	115
Fair Value	[9],[12],[17]	$ 86
Shares	[9],[12],[17]	451,039
Investment, Identifier [Axis]: InFarm - Indoor Urban Farming GMBH 1
Investment interest rate	[10],[13],[14],[20]			6.00%
Investment, Identifier [Axis]: InFarm Technologies Limited 1
Outstanding Principal	[16],[17],[19]	$ 3,886
Cost	[2],[16],[17],[19]	1,217
Fair Value	[16],[17],[19]	$ 0
Investment interest rate	[15],[16],[17],[19]	6.00%
Investment, Identifier [Axis]: InFarm Technologies Limited 2
Outstanding Principal	[16],[17],[19]	$ 15
Cost	[2],[16],[17],[19]	15
Fair Value	[16],[17],[19]	$ 0
Investment interest rate	[15],[16],[17],[19]	6.00%
Investment, Identifier [Axis]: InFarm Technologies Limited 3
Outstanding Principal	[16],[17],[19]	$ 349
Cost	[2],[16],[17],[19]	109
Fair Value	[16],[17],[19]	$ 0
Investment interest rate	[15],[16],[17],[19]	6.00%
Investment, Identifier [Axis]: InFarm Technologies Limited 4
Interest rate EOT	[15],[16],[17],[19]	50.00%
Outstanding Principal	[16],[17],[19]	$ 22
Cost	[2],[16],[17],[19]	22
Fair Value	[16],[17],[19]	0
Investment, Identifier [Axis]: InFarm Technologies Limited 5
Outstanding Principal	[16],[17],[19]	5
Cost	[2],[16],[17],[19]	5
Fair Value	[16],[17],[19]	0
Investment, Identifier [Axis]: InFarm Technologies Limited, Equity Investments
Cost	[2],[9],[16],[17]	0
Fair Value	[9],[16],[17]	$ 0
Shares	[9],[16],[17]	8,750
Investment, Identifier [Axis]: Infinite Athlete, Inc. (f/k/a Tempus Ex Machina, Inc.)
Cost	[2],[9],[12]	$ 38
Fair Value	[9],[12]	$ 22
Shares	[9],[12]	53,879
Investment, Identifier [Axis]: JOKR S.a.r.l. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 538
Fair Value	[6],[11],[13],[14]			$ 81
Shares	[6],[11],[13],[14]			14,763
Investment, Identifier [Axis]: JOKR S.a.r.l. 1
Interest rate margin	[10],[13],[14]			5.75%
Interest rate floor	[10],[13],[14]			9.00%
Interest rate EOT	[10],[13],[14]			3.00%
Outstanding Principal	[13],[14]			$ 1,252
Cost	[5],[13],[14]			1,303
Fair Value	[13],[14]			1,290
Investment, Identifier [Axis]: JOKR S.a.r.l. 1 ,Equity Investments
Cost	[5],[6],[13],[14]			375
Fair Value	[6],[13],[14]			$ 328
Shares	[6],[13],[14]			5,688
Investment, Identifier [Axis]: JOKR S.a.r.l. 1, Equity Investments
Cost	[2],[9],[16],[17]	$ 375
Fair Value	[9],[16],[17]	$ 252
Shares	[9],[16],[17]	5,688
Investment, Identifier [Axis]: JOKR S.a.r.l. 2
Interest rate margin	[13],[14]			7.75%
Interest rate floor	[13],[14]			11.00%
Interest rate EOT	[13],[14]			6.00%
Outstanding Principal	[13],[14]			$ 4,817
Cost	[5],[13],[14]			4,830
Fair Value	[13],[14]			4,741
Investment, Identifier [Axis]: JOKR S.a.r.l. 2 ,Equity Investments
Cost	[5],[6],[13],[14]			75
Fair Value	[6],[13],[14]			$ 95
Shares	[6],[13],[14]			1,575
Investment, Identifier [Axis]: JOKR S.a.r.l. 2, Equity Investments
Cost	[2],[9],[16],[17]	$ 75
Fair Value	[9],[16],[17]	$ 70
Shares	[9],[16],[17]	1,575
Investment, Identifier [Axis]: JOKR S.a.r.l. 3
Interest rate margin	[10],[13],[14]			7.75%
Interest rate floor	[10],[13],[14]			11.00%
Interest rate EOT	[10],[13],[14]			6.00%
Outstanding Principal	[13],[14]			$ 1,000
Cost	[5],[13],[14]			1,005
Fair Value	[13],[14]			990
Investment, Identifier [Axis]: JOKR S.a.r.l., 1
Interest rate margin	[16],[17]	7.40%
Interest rate EOT	[16],[17]	8.00%
Interest rate PIK	[16],[17]	7.10%
Outstanding Principal	[16],[17]	$ 4,604
Cost	[2],[16],[17]	4,678
Fair Value	[16],[17]	$ 4,641
Investment, Identifier [Axis]: JOKR S.a.r.l., 2
Interest rate margin	[15],[16],[17]	9.31%
Interest rate EOT	[15],[16],[17]	8.00%
Interest rate PIK	[15],[16],[17]	8.94%
Outstanding Principal	[16],[17]	$ 1,046
Cost	[2],[16],[17]	1,050
Fair Value	[16],[17]	1,050
Investment, Identifier [Axis]: JOKR S.a.r.l., 1 Warrant Investments
Cost	[2],[9],[12],[16],[17]	538
Fair Value	[9],[12],[16],[17]	$ 240
Shares	[9],[12],[16],[17]	14,763
Investment, Identifier [Axis]: JOKR S.a.r.l., 2 Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 96
Fair Value	[9],[12],[16],[17]	$ 96
Shares	[9],[12],[16],[17]	5,905
Investment, Identifier [Axis]: JOKR S.a.r.l., Revolver
Interest rate margin	[15],[16],[17]	5.75%
Interest rate floor	[15],[16],[17]	9.00%
Interest rate EOT	[15],[16],[17]	3.00%
Outstanding Principal	[16],[17]	$ 1,252
Cost	[2],[16],[17]	1,402
Fair Value	[16],[17]	1,391
Investment, Identifier [Axis]: Jerry Services, Inc, Warrant Investments
Cost	[2],[9],[12]	8
Fair Value	[9],[12]	$ 6
Shares	[9],[12]	2,235
Investment, Identifier [Axis]: Jerry Services, Inc. , Equity Investments
Cost	[5],[6]			8
Fair Value	[6]			$ 6
Shares	[6]			656
Investment, Identifier [Axis]: Jerry Services, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 8
Fair Value	[6],[11]			$ 5
Shares	[6],[11]			2,235
Investment, Identifier [Axis]: Jerry Services, Inc. 1
Interest rate EOT		8.25%	[15]	8.25%	[10]
Outstanding Principal		$ 500		$ 500
Cost		524	[2]	512	[5]
Fair Value		$ 520		$ 501
Investment interest rate		10.00%	[15]	10.00%	[10]
Investment, Identifier [Axis]: Jerry Services, Inc. 2
Interest rate EOT		8.25%	[15]	8.25%	[10]
Outstanding Principal		$ 500		$ 500
Cost		511	[2]	501	[5]
Fair Value		$ 514		$ 498
Investment interest rate		13.75%	[15]	13.75%	[10]
Investment, Identifier [Axis]: Jerry Services, Inc., Equity Investments
Cost	[2],[9]	$ 8
Fair Value	[9]	$ 7
Shares	[9]	656
Investment, Identifier [Axis]: Join Digital, Inc.
Interest rate margin		3.75%
Interest rate floor		11.25%
Interest rate EOT		2.00%
Outstanding Principal		$ 4,900
Cost	[2]	4,859
Fair Value		4,859
Investment, Identifier [Axis]: Join Digital, Inc.., Warrant Investments
Cost	[2],[9],[12]	74
Fair Value	[9],[12]	$ 74
Shares	[9],[12]	47,770
Investment, Identifier [Axis]: K Health, Inc.
Interest rate margin		2.25%		2.25%
Interest rate floor		10.00%		10.00%
Interest rate EOT		4.75%		4.75%
Outstanding Principal		$ 4,459		$ 5,000
Cost		4,459	[2]	4,843	[5]
Fair Value		4,459		4,843
Investment, Identifier [Axis]: K Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			187
Fair Value	[6],[11]			$ 187
Shares	[6],[11]			61,224
Investment, Identifier [Axis]: K Health, Inc., Warrant Investments
Cost	[2],[9],[12]	187
Fair Value	[9],[12]	$ 263
Shares	[9],[12]	61,224
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated 2, Warrant Investments
Cost	[5],[6],[11]			$ 18
Fair Value	[6],[11]			$ 18
Shares	[6],[11]			8,012
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated , Warrant Investments
Cost	[5],[6],[11]			$ 91
Fair Value	[6],[11]			$ 713
Shares	[6],[11]			156,720
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated 1
Interest rate margin		3.75%	[15]	3.75%	[10]
Interest rate floor		10.00%	[15]	10.00%	[10]
Interest rate EOT		2.85%	[15]	2.85%	[10]
Outstanding Principal		$ 3,000		$ 3,000
Cost		3,053	[2]	3,003	[5]
Fair Value		3,053		$ 3,003
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated 1, Warrant Investments
Cost	[2],[9],[12]	91
Fair Value	[9],[12]	$ 713
Shares	[9],[12]	156,720
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated 2
Interest rate margin		3.75%	[15]	3.75%	[10]
Interest rate floor		10.00%	[15]	10.00%	[10]
Interest rate EOT		2.85%	[15]	2.85%	[10]
Outstanding Principal		$ 281		$ 281
Cost		263	[2]	279	[5]
Fair Value		263		279
Investment, Identifier [Axis]: Karat Financial Technologies Incorporated 2, Warrant Investments
Cost	[2],[9],[12]	18
Fair Value	[9],[12]	$ 18
Shares	[9],[12]	8,012
Investment, Identifier [Axis]: Kasa Living, Inc. , Equity Investments
Cost	[5],[6]			150
Fair Value	[6]			$ 150
Shares	[6]			22,725
Investment, Identifier [Axis]: Kasa Living, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 72
Fair Value	[6],[11]			$ 69
Shares	[6],[11]			25,832
Investment, Identifier [Axis]: Kasa Living, Inc., Equity Investments
Cost	[2],[9]	$ 150
Fair Value	[9]	$ 150
Shares	[9]	22,725
Investment, Identifier [Axis]: Kasa Living, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 72
Fair Value	[9],[12]	$ 69
Shares	[9],[12]	25,832
Investment, Identifier [Axis]: Koatji, Inc. ,Equity Investments
Cost	[5],[6],[13],[14]			$ 50
Fair Value	[6],[13],[14]			$ 50
Shares	[6],[13],[14]			155,164
Investment, Identifier [Axis]: Koatji, Inc., Equity Investments
Cost	[2],[9],[16],[17]	$ 50
Fair Value	[9],[16],[17]	$ 50
Shares	[9],[16],[17]	155,164
Investment, Identifier [Axis]: Kobold Metals Company , Equity Investments
Cost	[5],[6]			$ 700
Fair Value	[6]			$ 941
Shares	[6]			25,537
Investment, Identifier [Axis]: Kobold Metals Company , Warrant Investments
Cost	[5],[6],[11]			$ 37
Fair Value	[6],[11]			$ 1,035
Shares	[6],[11]			37,287
Investment, Identifier [Axis]: Kobold Metals Company, Equity Investments
Cost	[2],[9]	$ 700
Fair Value	[9]	$ 941
Shares	[9]	25,537
Investment, Identifier [Axis]: Kobold Metals Company, Warrant Investments
Cost	[2],[9],[12]	$ 37
Fair Value	[9],[12]	$ 1,035
Shares	[9],[12]	37,287
Investment, Identifier [Axis]: LeoLabs, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 66
Fair Value	[6],[11]			$ 76
Shares	[6],[11]			72,837
Investment, Identifier [Axis]: LeoLabs, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 66
Fair Value	[9],[12]	$ 76
Shares	[9],[12]	72,837
Investment, Identifier [Axis]: Levels Health Inc. , Equity Investments
Cost	[5],[6]			$ 187
Fair Value	[6]			$ 187
Shares	[6]			17,953
Investment, Identifier [Axis]: Levels Health Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 37
Fair Value	[6],[11]			$ 216
Shares	[6],[11]			47,162
Investment, Identifier [Axis]: Levels Health Inc., Equity Investments
Cost	[2],[9]	$ 187
Fair Value	[9]	$ 187
Shares	[9]	17,953
Investment, Identifier [Axis]: Levels Health Inc., Warrant Investments
Cost	[2],[9],[12]	$ 37
Fair Value	[9],[12]	$ 216
Shares	[9],[12]	47,162
Investment, Identifier [Axis]: Loft Orbital Solutions Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 58
Fair Value	[6],[11]			$ 20
Shares	[6],[11]			6,747
Investment, Identifier [Axis]: Loft Orbital Solutions Inc., Warrant Investments
Cost	[2],[9],[12]	$ 58
Fair Value	[9],[12]	$ 92
Shares	[9],[12]	6,747
Investment, Identifier [Axis]: Loft Orbital Solutions, Inc. 1
Interest rate margin		6.75%		6.75%	[10]
Interest rate floor		10.00%		10.00%	[10]
Interest rate EOT		5.00%		5.00%	[10]
Outstanding Principal		$ 1,000		$ 1,000
Cost		990	[2]	973	[5]
Fair Value		$ 990		$ 973
Investment, Identifier [Axis]: Loft Orbital Solutions, Inc. 2
Interest rate margin		6.75%		6.75%	[10]
Interest rate floor		10.00%		10.00%	[10]
Interest rate EOT		5.00%		5.00%	[10]
Outstanding Principal		$ 1,000		$ 1,000
Cost		988	[2]	971	[5]
Fair Value		$ 988		$ 971
Investment, Identifier [Axis]: Loft Orbital Solutions, Inc. 3
Interest rate margin		6.75%		6.75%	[10]
Interest rate floor		10.00%		10.00%	[10]
Interest rate EOT		5.00%		5.00%	[10]
Outstanding Principal		$ 1,000		$ 1,000
Cost		988	[2]	971	[5]
Fair Value		$ 988		$ 971
Investment, Identifier [Axis]: Lower Holding Company
Interest rate margin	[10]			3.75%
Interest rate floor	[10]			11.25%
Interest rate EOT	[10]			5.00%
Outstanding Principal				$ 2,000
Cost	[5]			2,012
Fair Value				1,968
Investment, Identifier [Axis]: Lower Holding Company , Warrant Investments
Cost	[5],[6],[11]			47
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			36,608
Investment, Identifier [Axis]: Lower Holding Company, Growth Capital Loan
Interest rate margin		3.75%
Interest rate floor		11.25%
Interest rate EOT		5.00%
Outstanding Principal		$ 1,472
Cost	[2]	1,528
Fair Value		1,528
Investment, Identifier [Axis]: Lower Holding Company, Warrant Investments
Cost	[2],[9],[12]	47
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	36,608
Investment, Identifier [Axis]: Luxury Presence, Inc.
Interest rate margin		2.75%
Interest rate floor		9.25%
Interest rate EOT		5.75%
Outstanding Principal		$ 1,500
Cost	[2]	1,477
Fair Value		1,477
Investment, Identifier [Axis]: Luxury Presence, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 40
Fair Value	[6],[11]			$ 25
Shares	[6],[11]			7,734
Investment, Identifier [Axis]: Luxury Presence, Inc., Warrant Investments
Cost	[2],[9],[12]	58
Fair Value	[9],[12]	$ 36
Shares	[9],[12]	11,215
Investment, Identifier [Axis]: MA Micro Limited 1
Outstanding Principal	[13],[14]			$ 1,666
Cost	[5],[13],[14]			577
Fair Value	[13],[14]			577
Investment, Identifier [Axis]: MA Micro Limited 2
Outstanding Principal	[13],[14]			1,666
Cost	[5],[13],[14]			1,085
Fair Value	[13],[14]			1,085
Investment, Identifier [Axis]: MA Micro Limited 3
Outstanding Principal	[13],[14]			555
Cost	[5],[13],[14]			474
Fair Value	[13],[14]			474
Investment, Identifier [Axis]: MA Micro Limited, Convertible Note
Outstanding Principal	[16],[17]	$ 1,666
Cost	[2],[16],[17]	1,085
Fair Value	[16],[17]	1,097
Investment, Identifier [Axis]: MA Micro Limited, Growth Capital Loan 1
Outstanding Principal	[16],[17]	1,666
Cost	[2],[16],[17]	577
Fair Value	[16],[17]	331
Investment, Identifier [Axis]: MA Micro Limited, Growth Capital Loan 2
Outstanding Principal	[16],[17]	555
Cost	[2],[16],[17]	474
Fair Value	[16],[17]	154
Investment, Identifier [Axis]: MXP Prime Platform GmbH 1 , Equity Investments
Cost	[5],[6],[13],[14]			570
Fair Value	[6],[13],[14]			$ 6
Shares	[6],[13],[14]			83
Investment, Identifier [Axis]: MXP Prime Platform GmbH 1, Equity Investments
Cost	[2],[9],[16],[17]	570
Fair Value	[9],[16],[17]	$ 6
Shares	[9],[16],[17]	83
Investment, Identifier [Axis]: MXP Prime Platform GmbH 2 ,Equity Investments
Cost	[5],[6],[13],[14]			$ 0
Fair Value	[6],[13],[14]			$ 64
Shares	[6],[13],[14]			11
Investment, Identifier [Axis]: MXP Prime Platform GmbH 2, Equity Investments
Cost	[2],[9],[16],[17]	$ 0
Fair Value	[9],[16],[17]	$ 65
Shares	[9],[16],[17]	11
Investment, Identifier [Axis]: MXP Prime Platform GmbH 3 , Equity Investments
Cost	[5],[6],[13],[14]			$ 25
Fair Value	[6],[13],[14]			$ 25
Shares	[6],[13],[14]			23
Investment, Identifier [Axis]: MXP Prime Platform GmbH 3, Equity Investments
Cost	[2],[9],[16],[17]	$ 25
Fair Value	[9],[16],[17]	$ 26
Shares	[9],[16],[17]	23
Investment, Identifier [Axis]: Machinify, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 36
Fair Value	[6],[11]			$ 36
Shares	[6],[11]			27,040
Investment, Identifier [Axis]: Machinify, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 36
Fair Value	[9],[12]	$ 36
Shares	[9],[12]	27,040
Investment, Identifier [Axis]: Manufactured Networks, Inc.
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			14.25%
Outstanding Principal				$ 5,000
Cost	[5]			4,962
Fair Value				4,982
Investment, Identifier [Axis]: Manufactured Networks, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			89
Fair Value	[6],[11]			$ 41
Shares	[6],[11]			99,657
Investment, Identifier [Axis]: Manufactured Networks, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 89
Fair Value	[9],[12]	$ 41
Shares	[9],[12]	99,657
Investment, Identifier [Axis]: Manufactured Networks, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 25
Fair Value	[6],[11]			$ 22
Shares	[6],[11]			73,666
Investment, Identifier [Axis]: Manufactured Networks, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 25
Fair Value	[9],[12]	$ 22
Shares	[9],[12]	73,666
Investment, Identifier [Axis]: Manufactured Networks, Inc.,
Interest rate margin	[15]	7.25%
Interest rate floor	[15]	15.75%
Outstanding Principal		$ 3,286
Cost	[2]	3,286
Fair Value		3,286
Investment, Identifier [Axis]: Material Technologies Corporation , Warrant Investments
Cost	[5],[6],[11]			$ 156
Fair Value	[6],[11]			$ 140
Shares	[6],[11]			23,576
Investment, Identifier [Axis]: Material Technologies Corporation 1 , Equity Investments
Cost	[5],[6]			$ 261
Fair Value	[6]			$ 217
Shares	[6]			12,822
Investment, Identifier [Axis]: Material Technologies Corporation 1, Equity Investments
Cost	[2],[9]	261
Fair Value	[9]	$ 217
Shares	[9]	12,822
Investment, Identifier [Axis]: Material Technologies Corporation 2 , Equity Investments
Cost	[5],[6]			$ 189
Fair Value	[6]			$ 157
Shares	[6]			9,285
Investment, Identifier [Axis]: Material Technologies Corporation 2, Equity Investments
Cost	[2],[9]	$ 189
Fair Value	[9]	$ 157
Shares	[9]	9,285
Investment, Identifier [Axis]: Material Technologies Corporation 3 , Equity Investments
Cost	[5],[6]			$ 500
Fair Value	[6]			$ 366
Shares	[6]			15,050
Investment, Identifier [Axis]: Material Technologies Corporation 3, Equity Investments
Cost	[2],[9]	$ 500
Fair Value	[9]	$ 366
Shares	[9]	15,050
Investment, Identifier [Axis]: Material Technologies Corporation, Warrant Investments
Cost	[2],[9],[12]	$ 156
Fair Value	[9],[12]	$ 140
Shares	[9],[12]	23,576
Investment, Identifier [Axis]: May Acquisitions Limited , Equity Investments
Cost	[5],[6],[13],[14]			$ 0
Fair Value	[6],[13],[14]			$ 0
Shares	[6],[13],[14]			8,750
Investment, Identifier [Axis]: May Acquisitions Limited 1
Outstanding Principal	[13],[14],[20]			$ 3,887
Cost	[5],[13],[14],[20]			1,221
Fair Value	[13],[14],[20]			1,204
Investment, Identifier [Axis]: May Acquisitions Limited 2
Outstanding Principal	[13],[14],[20]			15
Cost	[5],[13],[14],[20]			15
Fair Value	[13],[14],[20]			$ 5
Investment interest rate	[10],[13],[14],[20]			6.00%
Investment, Identifier [Axis]: May Acquisitions Limited 3
Outstanding Principal	[13],[14],[20]			$ 349
Cost	[5],[13],[14],[20]			109
Fair Value	[13],[14],[20]			$ 108
Investment interest rate	[10],[13],[14],[20]			6.00%
Investment, Identifier [Axis]: McN Investments Ltd. , Equity Investments
Cost	[5],[6],[13],[14]			$ 20
Fair Value	[6],[13],[14]			$ 14
Shares	[6],[13],[14]			749
Investment, Identifier [Axis]: McN Investments Ltd. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 15
Fair Value	[6],[11],[13],[14]			$ 6
Shares	[6],[11],[13],[14]			1,874
Investment, Identifier [Axis]: McN Investments Ltd., Equity Investments
Cost	[2],[9],[16],[17]	$ 20
Fair Value	[9],[16],[17]	$ 14
Shares	[9],[16],[17]	749
Investment, Identifier [Axis]: McN Investments Ltd., Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 15
Fair Value	[9],[12],[16],[17]	$ 6
Shares	[9],[12],[16],[17]	1,874
Investment, Identifier [Axis]: Medly Health Inc. 1
Interest rate floor	[10]			11.00%
Interest rate EOT	[10]			6.00%
Interest rate PIK	[10]			4.75%
Outstanding Principal				$ 8,614
Cost	[5]			8,707
Fair Value				$ 8,707
Investment, Identifier [Axis]: Medly Health Inc. 2
Interest rate floor	[10]			11.00%
Interest rate EOT	[10]			6.00%
Interest rate PIK	[10]			4.75%
Outstanding Principal				$ 648
Cost	[5]			637
Fair Value				637
Investment, Identifier [Axis]: Merama Inc. , Warrant Investments
Cost	[5],[6],[11]			589
Fair Value	[6],[11]			$ 563
Shares	[6],[11]			71,728
Investment, Identifier [Axis]: Merama Inc. 1
Interest rate EOT				7.50%
Outstanding Principal				$ 1,563
Cost	[5]			1,649
Fair Value				$ 1,640
Investment interest rate				10.00%
Investment, Identifier [Axis]: Merama Inc. 1 , Equity Investments
Cost	[5],[6]			$ 31
Fair Value	[6]			$ 57
Shares	[6]			5,433
Investment, Identifier [Axis]: Merama Inc. 1, Equity Investments
Cost	[2],[9]	$ 31
Fair Value	[9]	$ 63
Shares	[9]	5,433
Investment, Identifier [Axis]: Merama Inc. 2
Interest rate EOT				7.50%
Outstanding Principal				$ 732
Cost	[5]			771
Fair Value				$ 766
Investment interest rate				10.00%
Investment, Identifier [Axis]: Merama Inc. 2 , Equity Investments
Cost	[5],[6]			$ 13
Fair Value	[6]			$ 80
Shares	[6]			6,944
Investment, Identifier [Axis]: Merama Inc. 2, Equity Investments
Cost	[2],[9]	$ 13
Fair Value	[9]	$ 73
Shares	[9]	6,944
Investment, Identifier [Axis]: Merama Inc. 3
Interest rate EOT				7.50%
Outstanding Principal				$ 1,561
Cost	[5]			1,636
Fair Value				$ 1,624
Investment interest rate				10.00%
Investment, Identifier [Axis]: Merama Inc. 3 , Equity Investments
Cost	[5],[6]			$ 62
Fair Value	[6]			$ 60
Shares	[6]			3,862
Investment, Identifier [Axis]: Merama Inc. 3, Equity Investments
Cost	[2],[9]	$ 62
Fair Value	[9]	$ 60
Shares	[9]	3,862
Investment, Identifier [Axis]: Merama Inc. 4
Interest rate EOT				7.50%
Outstanding Principal				$ 3,635
Cost	[5]			3,634
Fair Value				$ 3,575
Investment interest rate				10.00%
Investment, Identifier [Axis]: Merama Inc., Warrant Investments
Cost	[2],[9],[12]	$ 589
Fair Value	[9],[12]	$ 563
Shares	[9],[12]	71,728
Investment, Identifier [Axis]: Metropolis Technologies, Inc.
Interest rate margin	[10]			4.85%
Interest rate floor	[10]			11.75%
Interest rate PIK	[10]			4.66%
Outstanding Principal				$ 1,131
Cost	[5]			1,144
Fair Value				$ 1,153
Accretion of end-of-term payments	[10]			7.00%
Investment, Identifier [Axis]: Metropolis Technologies, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 3
Fair Value	[6],[11]			$ 21
Shares	[6],[11]			3,495
Investment, Identifier [Axis]: Metropolis Technologies, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 3
Fair Value	[9],[12]	$ 42
Shares	[9],[12]	3,495
Investment, Identifier [Axis]: Minted, Inc.
Interest rate margin		8.00%		8.00%
Interest rate floor		11.50%		11.50%
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 10,000		$ 10,000
Cost		10,243	[2]	10,154	[5]
Fair Value		10,243		10,154
Investment, Identifier [Axis]: Minted, Inc. , Warrant Investments
Cost	[5],[6],[11]			300
Fair Value	[6],[11]			$ 143
Shares	[6],[11]			29,702
Investment, Identifier [Axis]: Minted, Inc., Warrant Investments
Cost	[2],[9],[12]	300
Fair Value	[9],[12]	$ 143
Shares	[9],[12]	29,702
Investment, Identifier [Axis]: Morty, Inc.
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			9.00%
Interest rate EOT	[10]			10.00%
Investment, Identifier [Axis]: Morty, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 66
Fair Value	[6],[11]			$ 4
Shares	[6],[11]			88,980
Investment, Identifier [Axis]: Morty, Inc., Growth Capital Loan
Interest rate margin		5.75%
Interest rate floor		9.00%
Interest rate EOT		10.00%
Outstanding Principal		$ 7,000		$ 7,000
Cost		7,295	[2]	7,098	[5]
Fair Value		6,994		$ 6,873
Investment, Identifier [Axis]: Morty, Inc., Warrant Investments
Cost	[2],[9],[12]	66
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	88,980
Investment, Identifier [Axis]: Mynd Management, Inc. 1
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.50%
Interest rate EOT	[10]			6.00%
Outstanding Principal				$ 1,000
Cost	[5]			1,031
Fair Value				1,031
Investment, Identifier [Axis]: Mynd Management, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			83
Fair Value	[6],[11]			$ 113
Shares	[6],[11]			43,472
Investment, Identifier [Axis]: Mynd Management, Inc. 2
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.50%
Interest rate EOT	[10]			6.00%
Outstanding Principal				$ 1,000
Cost	[5]			1,007
Fair Value				1,007
Investment, Identifier [Axis]: Mynd Management, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			1
Fair Value	[6],[11]			$ 1
Shares	[6],[11]			1,544
Investment, Identifier [Axis]: Mynd Management, Inc. 3
Interest rate margin				5.25%
Interest rate floor				13.50%
Interest rate EOT				4.00%
Outstanding Principal				$ 8,000
Cost	[5]			7,978
Fair Value				7,978
Investment, Identifier [Axis]: Mynd Management, Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			11
Fair Value	[6],[11]			$ 11
Shares	[6],[11]			16,471
Investment, Identifier [Axis]: N26 GmbH , Equity Investments
Cost	[5],[6],[13],[14]			$ 690
Fair Value	[6],[13],[14]			$ 817
Shares	[6],[13],[14]			12
Investment, Identifier [Axis]: N26 GmbH , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 173
Fair Value	[6],[11],[13],[14]			$ 128
Shares	[6],[11],[13],[14]			6
Investment, Identifier [Axis]: N26 GmbH, Equity Investments
Cost	[2],[9],[16],[17]	$ 690
Fair Value	[9],[16],[17]	$ 826
Shares	[9],[16],[17]	12
Investment, Identifier [Axis]: N26 GmbH, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 173
Fair Value	[9],[12],[16],[17]	$ 130
Shares	[9],[12],[16],[17]	6
Investment, Identifier [Axis]: Nakdcom One World AB 1
Interest rate floor		11.50%	[15],[16],[17]	11.50%	[10],[13],[14]
Interest rate EOT		10.00%	[15],[16],[17]	10.00%	[10],[13],[14]
Interest rate PIK		8.25%	[15],[16],[17]	8.25%	[10],[13],[14]
Outstanding Principal		$ 635	[16],[17]	$ 560	[13],[14]
Cost		593	[2],[16],[17]	490	[5],[13],[14]
Fair Value		582	[16],[17]	461	[13],[14]
Investment, Identifier [Axis]: Nakdcom One World AB 1 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			20
Fair Value	[6],[11],[13],[14]			$ 0
Shares	[6],[11],[13],[14]			14,709
Investment, Identifier [Axis]: Nakdcom One World AB 1, Warrant Investments
Cost	[2],[9],[12],[16],[17]	20
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	14,709
Investment, Identifier [Axis]: Nakdcom One World AB 2
Interest rate floor		11.50%	[15],[16],[17]	11.50%	[10],[13],[14]
Interest rate EOT		10.00%	[15],[16],[17]	10.00%	[10],[13],[14]
Interest rate PIK		8.25%	[15],[16],[17]	8.25%	[10],[13],[14]
Outstanding Principal		$ 356	[16],[17]	$ 314	[13],[14]
Cost		331	[2],[16],[17]	273	[5],[13],[14]
Fair Value		347	[16],[17]	275	[13],[14]
Investment, Identifier [Axis]: Nakdcom One World AB 2 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			26
Fair Value	[6],[11],[13],[14]			$ 27
Shares	[6],[11],[13],[14]			14,709
Investment, Identifier [Axis]: Nakdcom One World AB 2, Warrant Investments
Cost	[2],[9],[12],[16],[17]	26
Fair Value	[9],[12],[16],[17]	$ 28
Shares	[9],[12],[16],[17]	14,709
Investment, Identifier [Axis]: Nakdcom One World AB 3 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 0
Fair Value	[6],[11],[13],[14]			$ 0
Shares	[6],[11],[13],[14]			15,000
Investment, Identifier [Axis]: Nakdcom One World AB 3, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 0
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	15,000
Investment, Identifier [Axis]: Nakdcom One World AB 4 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 79
Fair Value	[6],[11],[13],[14]			$ 83
Shares	[6],[11],[13],[14]			45,000
Investment, Identifier [Axis]: Nakdcom One World AB 4, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 79
Fair Value	[9],[12],[16],[17]	$ 84
Shares	[9],[12],[16],[17]	45,000
Investment, Identifier [Axis]: Narvar, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 102
Fair Value	[6],[11]			$ 51
Shares	[6],[11]			43,580
Investment, Identifier [Axis]: Narvar, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 102
Fair Value	[9],[12]	$ 51
Shares	[9],[12]	43,580
Investment, Identifier [Axis]: Noho Dental, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 228
Fair Value	[6],[11]			$ 228
Shares	[6],[11]			56,109
Investment, Identifier [Axis]: Noho Dental, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 228
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	56
Investment, Identifier [Axis]: ON-0731 Fund II LP, Equity Investments
Cost	[2],[9],[17]	$ 250
Fair Value	[9],[17]	$ 250
Shares	[9],[17]	0
Investment, Identifier [Axis]: Ocrolus Inc.
Interest rate margin		2.50%
Interest rate floor		9.75%
Interest rate EOT		5.00%
Outstanding Principal		$ 4,286
Cost	[2]	4,268
Fair Value		4,268
Investment, Identifier [Axis]: Ocrolus Inc., Warrant Investments
Cost	[2],[9],[12]	58
Fair Value	[9],[12]	$ 58
Shares	[9],[12]	70,132
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 1
Interest rate EOT	[16],[17]	10.50%
Outstanding Principal	[16],[17]	$ 5,000
Cost	[2],[16],[17]	5,279
Fair Value	[16],[17]	$ 5,374
Investment interest rate	[16],[17]	12.00%
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 1, Equity Investments
Cost	[2],[9],[16],[17]	$ 82
Fair Value	[9],[16],[17]	$ 133
Shares	[9],[16],[17]	1,326
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 1, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 90
Fair Value	[9],[12],[16],[17]	$ 93
Shares	[9],[12],[16],[17]	2,775
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 2
Interest rate EOT	[16],[17]	10.50%
Outstanding Principal	[16],[17]	$ 2,500
Cost	[2],[16],[17]	2,640
Fair Value	[16],[17]	$ 2,687
Investment interest rate	[16],[17]	12.00%
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 2, Equity Investments
Cost	[2],[9],[16],[17]	$ 79
Fair Value	[9],[16],[17]	$ 103
Shares	[9],[16],[17]	1,027
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 2, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 65
Fair Value	[9],[12],[16],[17]	$ 105
Shares	[9],[12],[16],[17]	2,439
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 3, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 84
Fair Value	[9],[12],[16],[17]	$ 84
Shares	[9],[12],[16],[17]	1,951
Investment, Identifier [Axis]: Omio Corp. (f/k/a GoEuro Corp.) 4, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 84
Fair Value	[9],[12],[16],[17]	$ 270
Shares	[9],[12],[16],[17]	4,476
Investment, Identifier [Axis]: OnSiteIQ, Inc.
Interest rate margin				3.50%
Interest rate floor				11.75%
Interest rate EOT				6.75%
Outstanding Principal				$ 2,416
Cost	[5]			2,417
Fair Value				2,417
Investment, Identifier [Axis]: OnSiteIQ, Inc. , Warrant Investments
Cost	[5],[6],[11]			14
Fair Value	[6],[11]			$ 64
Shares	[6],[11]			102,864
Investment, Identifier [Axis]: OnSiteIQ, Inc., Growth Capital Loan 1
Interest rate margin		3.50%
Interest rate floor		11.75%
Interest rate EOT		6.75%
Outstanding Principal		$ 2,416
Cost	[2]	2,476
Fair Value		$ 2,476
Investment, Identifier [Axis]: OnSiteIQ, Inc., Growth Capital Loan 2
Interest rate margin	[15]	3.50%
Interest rate floor	[15]	11.75%
Interest rate EOT	[15]	6.75%
Outstanding Principal		$ 334
Cost	[2]	336
Fair Value		336
Investment, Identifier [Axis]: OnSiteIQ, Inc., Warrant Investments
Cost	[2],[9],[12]	14
Fair Value	[9],[12]	$ 46
Shares	[9],[12]	102,864
Investment, Identifier [Axis]: OpenLoop Health, Inc. 1
Interest rate margin		3.50%
Interest rate floor		11.25%
Interest rate EOT		7.50%
Outstanding Principal		$ 1,776
Cost	[2]	1,809
Fair Value		1,816
Investment, Identifier [Axis]: OpenLoop Health, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 51
Fair Value	[6],[11]			$ 60
Shares	[6],[11]			11,186
Investment, Identifier [Axis]: OpenLoop Health, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	51
Fair Value	[9],[12]	$ 81
Shares	[9],[12]	11,186
Investment, Identifier [Axis]: OpenLoop Health, Inc. 2
Interest rate margin	[15]	1.50%
Interest rate floor	[15]	9.25%
Interest rate EOT	[15]	4.00%
Outstanding Principal		$ 2,000
Cost	[2]	2,043
Fair Value		2,049
Investment, Identifier [Axis]: OpenLoop Health, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 25
Fair Value	[6],[11]			$ 30
Shares	[6],[11]			5,593
Investment, Identifier [Axis]: OpenLoop Health, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	25
Fair Value	[9],[12]	$ 40
Shares	[9],[12]	5,593
Investment, Identifier [Axis]: OpenLoop Health, Inc. 3
Interest rate margin		3.50%
Interest rate floor		11.25%
Interest rate EOT		7.50%
Outstanding Principal		$ 3,000
Cost	[2]	2,976
Fair Value		2,990
Investment, Identifier [Axis]: OpenLoop Health, Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			$ 89
Fair Value	[6],[11]			$ 89
Shares	[6],[11]			16,779
Investment, Identifier [Axis]: OpenLoop Health, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	89
Fair Value	[9],[12]	$ 121
Shares	[9],[12]	16,779
Investment, Identifier [Axis]: OpenLoop Health, Inc. 4
Interest rate margin	[15]	3.50%
Interest rate floor	[15]	11.25%
Interest rate EOT	[15]	7.50%
Outstanding Principal		$ 7,778
Cost	[2]	7,308
Fair Value		7,362
Investment, Identifier [Axis]: OpenLoop Health, Inc. 4, Warrant Investments
Cost	[2],[9],[12]	315
Fair Value	[9],[12]	$ 315
Shares	[9],[12]	43,625
Investment, Identifier [Axis]: Openloop Health Inc. 1
Interest rate margin	[10]			3.50%
Interest rate floor	[10]			11.25%
Interest rate EOT	[10]			7.50%
Outstanding Principal				$ 2,000
Cost	[5]			1,958
Fair Value				$ 1,958
Investment, Identifier [Axis]: Openloop Health Inc. 2
Interest rate margin	[10]			1.50%
Interest rate floor	[10]			9.25%
Interest rate EOT	[10]			3.25%
Outstanding Principal				$ 2,000
Cost	[5]			2,002
Fair Value				$ 2,002
Investment, Identifier [Axis]: Openloop Health Inc. 3
Interest rate margin	[10]			3.50%
Interest rate floor	[10]			11.25%
Interest rate EOT	[10]			7.50%
Outstanding Principal				$ 3,000
Cost	[5]			2,865
Fair Value				2,865
Investment, Identifier [Axis]: Overtime Sports, Inc. , Equity Investments
Cost	[5],[6]			150
Fair Value	[6]			$ 150
Shares	[6]			19,148
Investment, Identifier [Axis]: Overtime Sports, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 5
Fair Value	[6],[11]			$ 5
Shares	[6],[11]			2,234
Investment, Identifier [Axis]: Overtime Sports, Inc., Equity Investments
Cost	[2],[9]	$ 150
Fair Value	[9]	$ 150
Shares	[9]	19,148
Investment, Identifier [Axis]: Overtime Sports, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 5
Fair Value	[9],[12]	$ 5
Shares	[9],[12]	2,234
Investment, Identifier [Axis]: Pair Eyewear, Inc. , Equity Investments
Cost	[5],[6]			$ 250
Fair Value	[6]			$ 250
Shares	[6]			48,598
Investment, Identifier [Axis]: Pair Eyewear, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 5
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			2,288
Investment, Identifier [Axis]: Pair Eyewear, Inc., Equity Investments
Cost	[2],[9]	$ 10
Fair Value	[9]	$ 10
Shares	[9]	1,880
Investment, Identifier [Axis]: Pair Eyewear, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 5
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	2,288
Investment, Identifier [Axis]: Panorama Education, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 14
Fair Value	[9],[12]	$ 14
Shares	[9],[12]	2,577
Investment, Identifier [Axis]: Panorama Education, Inc.1
Interest rate margin		2.00%
Interest rate floor		10.50%
Interest rate EOT		7.50%
Outstanding Principal		$ 3,000
Cost	[2]	2,973
Fair Value		$ 2,973
Investment, Identifier [Axis]: Panorama Education, Inc.2
Interest rate margin	[15]	1.00%
Interest rate floor	[15]	9.50%
Interest rate EOT	[15]	4.00%
Outstanding Principal		$ 160
Cost	[2]	158
Fair Value		$ 158
Investment, Identifier [Axis]: Parker Group Inc.
Interest rate margin		3.50%
Interest rate floor		11.00%
Interest rate EOT		2.50%
Outstanding Principal		$ 550
Cost	[2]	540
Fair Value		540
Investment, Identifier [Axis]: Parker Group Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 9
Fair Value	[6],[11]			$ 9
Shares	[6],[11]			2,667
Investment, Identifier [Axis]: Parker Group Inc. 1
Interest rate margin				3.50%
Interest rate floor				6.75%
Outstanding Principal				$ 151
Cost	[5]			150
Fair Value				$ 150
Investment, Identifier [Axis]: Parker Group Inc. 1, Warrant Investments
Cost	[2],[9],[12]	17
Fair Value	[9],[12]	$ 9
Shares	[9],[12]	5,334
Investment, Identifier [Axis]: Parker Group Inc. 2
Interest rate margin				5.25%
Interest rate floor				8.50%
Interest rate EOT				8.25%
Outstanding Principal				$ 629
Cost	[5]			661
Fair Value				$ 661
Investment, Identifier [Axis]: Parker Group Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 5
Fair Value	[9],[12]	$ 5
Shares	[9],[12]	2,491
Investment, Identifier [Axis]: Parsable, Inc.
Interest rate margin	[10]			5.00%
Interest rate floor	[10]			13.50%
Interest rate EOT	[10]			4.00%
Outstanding Principal				$ 3,333
Cost	[5]			3,272
Fair Value				3,272
Investment, Identifier [Axis]: Parsable, Inc. , Warrant Investments
Cost	[5],[6],[11]			61
Fair Value	[6],[11]			$ 23
Shares	[6],[11]			165,100
Investment, Identifier [Axis]: Passport Labs, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 51
Fair Value	[6],[11]			$ 51
Shares	[6],[11]			2,102
Investment, Identifier [Axis]: Passport Labs, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 51
Fair Value	[9],[12]	$ 51
Shares	[9],[12]	2,102
Investment, Identifier [Axis]: Path Robotics, Inc 1
Outstanding Principal				$ 1,655
Cost	[5]			1,734
Fair Value				1,734
Investment, Identifier [Axis]: Path Robotics, Inc. , Warrant Investments
Cost	[5],[6],[11]			130
Fair Value	[6],[11]			$ 42
Shares	[6],[11]			40,579
Investment, Identifier [Axis]: Path Robotics, Inc. 1
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.25%
Interest rate EOT	[10]			8.75%
Investment, Identifier [Axis]: Path Robotics, Inc. 2
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.25%
Interest rate EOT	[10]			8.75%
Outstanding Principal				$ 1,695
Cost	[5]			1,756
Fair Value				$ 1,756
Investment, Identifier [Axis]: Path Robotics, Inc. 3
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.25%
Interest rate EOT	[10]			8.75%
Outstanding Principal				$ 705
Cost	[5]			721
Fair Value				$ 721
Investment, Identifier [Axis]: Path Robotics, Inc. 4
Interest rate margin	[10]			6.00%
Interest rate floor	[10]			9.25%
Interest rate EOT	[10]			8.75%
Outstanding Principal				$ 2,526
Cost	[5]			2,562
Fair Value				2,562
Investment, Identifier [Axis]: Path Robotics, Inc., 1
Interest rate margin		6.00%
Interest rate floor		9.25%
Interest rate EOT		8.75%
Outstanding Principal		$ 960
Cost	[2]	1,088
Fair Value		$ 953
Investment, Identifier [Axis]: Path Robotics, Inc., 2
Interest rate margin		6.00%
Interest rate floor		9.25%
Interest rate EOT		8.75%
Outstanding Principal		$ 1,056
Cost	[2]	1,167
Fair Value		$ 1,048
Investment, Identifier [Axis]: Path Robotics, Inc., 3
Interest rate margin		6.00%
Interest rate floor		9.25%
Interest rate EOT		8.75%
Outstanding Principal		$ 493
Cost	[2]	529
Fair Value		$ 489
Investment, Identifier [Axis]: Path Robotics, Inc., 4
Interest rate margin		6.00%
Interest rate floor		9.25%
Interest rate EOT		8.75%
Outstanding Principal		$ 2,060
Cost	[2]	2,169
Fair Value		2,044
Investment, Identifier [Axis]: Path Robotics, Inc., Warrant Investments
Cost	[2],[9],[12]	130
Fair Value	[9],[12]	$ 72
Shares	[9],[12]	40,579
Investment, Identifier [Axis]: Perry Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			42
Fair Value	[6],[11]			$ 42
Shares	[6],[11]			96,516
Investment, Identifier [Axis]: Perry Health, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 79
Fair Value	[9],[12]	$ 79
Shares	[9],[12]	184,258
Investment, Identifier [Axis]: Pet Folk Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 13
Fair Value	[6],[11]			$ 29
Shares	[6],[11]			169,684
Investment, Identifier [Axis]: Pet Folk Inc. ,Equity Investments
Cost	[5],[6]			$ 200
Fair Value	[6]			$ 285
Shares	[6]			949,667
Investment, Identifier [Axis]: Pet Folk Inc., Equity Investments
Cost	[2],[9]	$ 200
Fair Value	[9]	$ 285
Shares	[9]	949,667
Investment, Identifier [Axis]: Petfolk Inc. 1
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Outstanding Principal		$ 201
Cost	[2]	199
Fair Value		$ 199
Investment, Identifier [Axis]: Petfolk Inc. 2
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Outstanding Principal		$ 176
Cost	[2]	174
Fair Value		$ 174
Investment, Identifier [Axis]: Petfolk Inc. 3
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Outstanding Principal		$ 177
Cost	[2]	175
Fair Value		$ 175
Investment, Identifier [Axis]: Petfolk Inc. 4
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Outstanding Principal		$ 247
Cost	[2]	244
Fair Value		$ 244
Investment, Identifier [Axis]: Petfolk Inc. 5
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Outstanding Principal		$ 187
Cost	[2]	185
Fair Value		$ 185
Investment, Identifier [Axis]: Petfolk Inc. 6
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Interest rate EOT	[15]	3.00%
Outstanding Principal		$ 39
Cost	[2]	39
Fair Value		$ 39
Investment, Identifier [Axis]: Petfolk Inc. 7
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Interest rate EOT	[15]	3.00%
Outstanding Principal		$ 147
Cost	[2]	146
Fair Value		$ 146
Investment, Identifier [Axis]: Petfolk Inc. 8
Interest rate margin	[15]	6.50%
Interest rate floor	[15]	9.75%
Interest rate EOT	[15]	3.00%
Outstanding Principal		$ 150
Cost	[2]	149
Fair Value		149
Investment, Identifier [Axis]: Petfolk Inc., Warrant Investments
Cost	[2],[9],[12]	13
Fair Value	[9],[12]	$ 29
Shares	[9],[12]	169,684
Investment, Identifier [Axis]: Petfolk, Inc. 1
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Outstanding Principal				$ 213
Cost	[5]			210
Fair Value				$ 210
Investment, Identifier [Axis]: Petfolk, Inc. 2
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Outstanding Principal				$ 176
Cost	[5]			174
Fair Value				$ 174
Investment, Identifier [Axis]: Petfolk, Inc. 3
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Outstanding Principal				$ 177
Cost	[5]			174
Fair Value				$ 174
Investment, Identifier [Axis]: Petfolk, Inc. 4
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Outstanding Principal				$ 247
Cost	[5]			242
Fair Value				$ 242
Investment, Identifier [Axis]: Petfolk, Inc. 5
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Outstanding Principal				$ 187
Cost	[5]			184
Fair Value				$ 184
Investment, Identifier [Axis]: Petfolk, Inc. 6
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Interest rate EOT	[10]			3.00%
Outstanding Principal				$ 39
Cost	[5]			38
Fair Value				$ 38
Investment, Identifier [Axis]: Petfolk, Inc. 7
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Interest rate EOT	[10]			3.00%
Outstanding Principal				$ 147
Cost	[5]			144
Fair Value				$ 144
Investment, Identifier [Axis]: Petfolk, Inc. 8
Interest rate margin	[10]			6.50%
Interest rate floor	[10]			9.75%
Interest rate EOT	[10]			3.00%
Outstanding Principal				$ 150
Cost	[5]			147
Fair Value				$ 147
Investment, Identifier [Axis]: Phantom Auto Inc.
Interest rate margin				6.25%
Interest rate floor				9.50%
Interest rate EOT				6.00%
Outstanding Principal				$ 1,926
Cost	[5]			2,210
Fair Value				2,210
Investment, Identifier [Axis]: Phantom Auto Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			315
Fair Value	[6],[11]			$ 205
Shares	[6],[11]			141,409
Investment, Identifier [Axis]: Phantom Auto Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 315
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	141,409
Investment, Identifier [Axis]: Phantom Auto Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 35
Fair Value	[6],[11]			$ 23
Shares	[6],[11]			31,698
Investment, Identifier [Axis]: Phantom Auto Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 35
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	31,698
Investment, Identifier [Axis]: Phantom Auto Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			$ 24
Fair Value	[6],[11]			$ 16
Shares	[6],[11]			22,188
Investment, Identifier [Axis]: Phantom Auto Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 24
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	22,188
Investment, Identifier [Axis]: Phantom Auto Inc. 4, Warrant Investments
Cost	[2],[9],[12]	$ 0
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	34,288
Investment, Identifier [Axis]: Phantom Auto Inc.,
Interest rate margin	[15],[19]	5.00%
Interest rate floor	[15],[19]	13.50%
Interest rate EOT	[15],[19]	4.00%
Outstanding Principal	[19]	$ 4,858
Cost	[2],[19]	4,732
Fair Value	[19]	$ 1,650
Investment, Identifier [Axis]: Placemakr, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 118
Fair Value	[6],[11]			$ 118
Shares	[6],[11]			31,796
Investment, Identifier [Axis]: Placemakr, Inc. 1
Interest rate margin		3.50%
Interest rate floor		12.00%
Interest rate EOT		4.50%
Outstanding Principal		$ 2,500
Cost	[2]	2,440
Fair Value		$ 2,440
Investment, Identifier [Axis]: Placemakr, Inc. 2
Interest rate margin		4.00%
Interest rate floor		12.50%
Interest rate EOT		5.50%
Outstanding Principal		$ 2,500
Cost	[2]	2,442
Fair Value		2,442
Investment, Identifier [Axis]: Placemakr, Inc., Warrant Investments
Cost	[2],[9],[12]	118
Fair Value	[9],[12]	$ 75
Shares	[9],[12]	31,796
Investment, Identifier [Axis]: Planet A Foods GmbH , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 30
Fair Value	[6],[11],[13],[14]			$ 30
Shares	[6],[11],[13],[14]			13,722
Investment, Identifier [Axis]: Planet A Foods GmbH ,Equity Investments
Cost	[5],[6],[13],[14]			$ 10
Fair Value	[6],[13],[14]			$ 10
Shares	[6],[13],[14]			1,880
Investment, Identifier [Axis]: Planet A Foods GmbH 1
Interest rate margin		7.75%	[15],[16],[17]	7.75%	[10],[13],[14]
Interest rate floor		11.00%	[15],[16],[17]	11.00%	[10],[13],[14]
Interest rate EOT		8.00%	[15],[16],[17]	8.00%	[10],[13],[14]
Outstanding Principal		$ 525	[16],[17]	$ 588	[13],[14]
Cost		540	[2],[16],[17]	584	[5],[13],[14]
Fair Value		540	[16],[17]	$ 584	[13],[14]
Investment, Identifier [Axis]: Planet A Foods GmbH 1, Warrant Investments
Cost	[2],[9],[12],[16],[17]	30
Fair Value	[9],[12],[16],[17]	$ 30
Shares	[9],[12],[16],[17]	13,722
Investment, Identifier [Axis]: Planet A Foods GmbH 2
Interest rate margin		7.75%	[15],[16],[17]	7.75%	[10],[13],[14]
Interest rate floor		11.00%	[15],[16],[17]	11.00%	[10],[13],[14]
Interest rate EOT		8.00%	[15],[16],[17]	8.00%	[10],[13],[14]
Outstanding Principal		$ 207	[16],[17]	$ 207	[13],[14]
Cost		209	[2],[16],[17]	203	[5],[13],[14]
Fair Value		209	[16],[17]	$ 203	[13],[14]
Investment, Identifier [Axis]: Planet A Foods GmbH 2, Warrant Investments
Cost	[2],[9],[12],[16],[17]	0
Fair Value	[9],[12],[16],[17]	$ 0
Shares	[9],[12],[16],[17]	139,560
Investment, Identifier [Axis]: Planet A Foods GmbH 3
Interest rate margin		7.75%	[15],[16],[17]	7.75%	[10],[13],[14]
Interest rate floor		11.00%	[15],[16],[17]	11.00%	[10],[13],[14]
Interest rate EOT		8.00%	[15],[16],[17]	8.00%	[10],[13],[14]
Outstanding Principal		$ 172	[16],[17]	$ 172	[13],[14]
Cost		172	[2],[16],[17]	168	[5],[13],[14]
Fair Value		172	[16],[17]	168	[13],[14]
Investment, Identifier [Axis]: Planet A Foods GmbH, Equity Investments
Cost	[2],[9],[16],[17]	250
Fair Value	[9],[16],[17]	$ 250
Shares	[9],[16],[17]	48,598
Investment, Identifier [Axis]: Printify, Inc. , Equity Investments
Cost	[5],[6]			50
Fair Value	[6]			$ 50
Shares	[6]			13,850
Investment, Identifier [Axis]: Printify, Inc., Equity Investments
Cost	[2],[9]	$ 50
Fair Value	[9]	$ 50
Shares	[9]	13,850
Investment, Identifier [Axis]: Project 1920, Inc.
Interest rate margin		5.75%	[15],[19]	5.75%	[10],[20]
Interest rate floor		9.00%	[15],[19]	9.00%	[10],[20]
Interest rate EOT		2.00%	[15],[19]	2.00%	[10],[20]
Outstanding Principal		$ 350	[19]	$ 350	[20]
Cost		357	[2],[19]	357	[5],[20]
Fair Value		150	[19]	196	[20]
Investment, Identifier [Axis]: Project 1920, Inc. , Warrant Investments
Cost	[5],[6],[11]			2
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			2,823
Investment, Identifier [Axis]: Project 1920, Inc., Warrant Investments
Cost	[2],[9],[12]	2
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	2,823
Investment, Identifier [Axis]: Prose Beauty, Inc.
Interest rate margin		3.75%
Interest rate floor		8.50%
Interest rate EOT		8.50%
Outstanding Principal		$ 6,000
Cost	[2]	5,819
Fair Value		5,819
Investment, Identifier [Axis]: Prose Beauty, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 155
Fair Value	[6],[11]			$ 155
Shares	[6],[11]			24,510
Investment, Identifier [Axis]: Prose Beauty, Inc., Warrant Investments
Cost	[2],[9],[12]	311
Fair Value	[9],[12]	$ 479
Shares	[9],[12]	49,020
Investment, Identifier [Axis]: Quantum Circuits, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 40
Fair Value	[6],[11]			$ 40
Shares	[6],[11]			31,067
Investment, Identifier [Axis]: Quantum Circuits, Inc. 1
Interest rate margin	[15]	5.75%
Interest rate floor	[15]	9.00%
Interest rate EOT	[15]	5.00%
Outstanding Principal		$ 94
Cost	[2]	96
Fair Value		$ 96
Investment, Identifier [Axis]: Quantum Circuits, Inc. 2
Interest rate margin		5.75%	[15]	5.75%	[10]
Interest rate floor		9.00%	[15]	9.00%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Outstanding Principal		$ 283		$ 300
Cost		286	[2]	297	[5]
Fair Value		$ 286		$ 297
Investment, Identifier [Axis]: Quantum Circuits, Inc. 3
Interest rate margin		7.00%	[15]	7.00%	[10]
Interest rate floor		10.25%	[15]	10.25%	[10]
Interest rate EOT		6.50%	[15]	6.50%	[10]
Outstanding Principal		$ 1,000		$ 1,000
Cost		1,023	[2]	1,000	[5]
Fair Value		1,023		$ 1,000
Investment, Identifier [Axis]: Quantum Circuits, Inc., Equity Investments
Cost	[2],[9]	50
Fair Value	[9]	$ 50
Shares	[9]	17,612
Investment, Identifier [Axis]: Quantum Circuits, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 40
Fair Value	[9],[12]	$ 41
Shares	[9],[12]	31,067
Investment, Identifier [Axis]: Quantum Circuits, Inc.1
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			9.00%
Interest rate EOT	[10]			5.00%
Outstanding Principal				$ 110
Cost	[5]			110
Fair Value				110
Investment, Identifier [Axis]: Quick Commerce Ltd. , Warrant Investments
Cost	[5],[6],[11],[13],[14]			26
Fair Value	[6],[11],[13],[14]			$ 9
Shares	[6],[11],[13],[14]			108,238
Investment, Identifier [Axis]: Quick Commerce Ltd. 1
Interest rate margin	[10],[13],[14]			7.50%
Interest rate floor	[10],[13],[14]			10.75%
Interest rate EOT		3.75%	[15],[16],[17]	7.50%	[10],[13],[14]
Interest rate PIK	[15],[16],[17]	6.00%
Outstanding Principal		$ 796	[16],[17]	$ 1,500	[13],[14]
Cost		658	[2],[16],[17]	1,523	[5],[13],[14]
Fair Value		615	[16],[17]	$ 1,451	[13],[14]
Investment, Identifier [Axis]: Quick Commerce Ltd. 1, Equity Investments
Cost	[2],[9],[16],[17]	611
Fair Value	[9],[16],[17]	$ 537
Shares	[9],[16],[17]	31,818
Investment, Identifier [Axis]: Quick Commerce Ltd. 2
Interest rate margin	[10],[13],[14]			7.50%
Interest rate floor	[10],[13],[14]			10.75%
Interest rate EOT		3.75%	[15],[16],[17]	7.50%	[10],[13],[14]
Interest rate PIK	[15],[16],[17]	6.00%
Outstanding Principal		$ 133	[16],[17]	$ 250	[13],[14]
Cost		110	[2],[16],[17]	242	[5],[13],[14]
Fair Value		102	[16],[17]	$ 231	[13],[14]
Investment, Identifier [Axis]: Quick Commerce Ltd. 2, Equity Investments
Cost	[2],[9],[16],[17]	26
Fair Value	[9],[16],[17]	$ 135
Shares	[9],[16],[17]	112,770,108
Investment, Identifier [Axis]: Rally Network, Inc. 1
Interest rate floor	[10],[20]			9.00%
Interest rate EOT	[10],[20]			5.75%
Interest rate PIK	[10],[20]			5.75%
Outstanding Principal	[20]			$ 2,422
Cost	[5],[20]			2,469
Fair Value	[20]			$ 918
Investment, Identifier [Axis]: Rally Network, Inc. 2
Interest rate floor	[10],[20]			13.50%
Interest rate EOT	[10],[20]			5.75%
Interest rate PIK	[10],[20]			5.75%
Outstanding Principal	[20]			$ 42
Cost	[5],[20]			42
Fair Value	[20]			$ 16
Investment, Identifier [Axis]: Rally Network, Inc. 3
Interest rate floor	[10],[20]			14.25%
Interest rate EOT	[10],[20]			5.75%
Interest rate PIK	[10],[20]			5.75%
Outstanding Principal	[20]			$ 25
Cost	[5],[20]			25
Fair Value	[20]			9
Investment, Identifier [Axis]: Rally Network, Inc., Revolver 3
Interest rate floor	[15],[19]	14.25%
Interest rate EOT	[15],[19]	5.75%
Interest rate PIK	[15],[19]	5.75%
Outstanding Principal	[19]	$ 25
Cost	[2],[19]	25
Fair Value	[19]	$ 5
Investment, Identifier [Axis]: Rally Network, Inc., Revolver 4
Interest rate floor	[15],[19]	14.25%
Interest rate EOT	[15],[19]	5.75%
Interest rate PIK	[15],[19]	5.75%
Outstanding Principal	[19]	$ 8
Cost	[2],[19]	8
Fair Value	[19]	$ 2
Investment, Identifier [Axis]: Rally Network, Inc., Revolver 5
Interest rate margin		5.75%
Interest rate floor		14.25%
Interest rate EOT		5.75%
Outstanding Principal	[19]	$ 25
Cost	[2],[19]	25
Fair Value	[19]	$ 5
Investment, Identifier [Axis]: Rally Network, Inc., Revolver1
Interest rate floor	[15],[19]	9.00%
Interest rate EOT	[15],[19]	5.75%
Interest rate PIK	[15],[19]	5.75%
Outstanding Principal	[19]	$ 2,422
Cost	[2],[19]	2,469
Fair Value	[19]	$ 529
Investment, Identifier [Axis]: Rally Network, Inc., Revolver2
Interest rate floor	[15],[19]	13.50%
Interest rate EOT	[15],[19]	5.75%
Interest rate PIK	[15],[19]	5.75%
Outstanding Principal	[19]	$ 42
Cost	[2],[19]	42
Fair Value	[19]	9
Investment, Identifier [Axis]: RedFish Labs, Inc. , Warrant Investments
Cost	[5],[6],[11]			122
Fair Value	[6],[11]			$ 140
Shares	[6],[11]			53,862
Investment, Identifier [Axis]: RedFish Labs, Inc., Warrant Investments
Cost	[2],[9],[12]	122
Fair Value	[9],[12]	$ 140
Shares	[9],[12]	53,862
Investment, Identifier [Axis]: Redesign Health Inc. , Equity Investments
Cost	[5],[6]			$ 100
Fair Value	[6]			$ 100
Shares	[6]			5,919
Investment, Identifier [Axis]: Redesign Health Inc., Equity Investments
Cost	[2],[9]	$ 100
Fair Value	[9]	$ 100
Shares	[9]	5,919
Investment, Identifier [Axis]: Relay Commerce, Inc. 1
Interest rate margin		5.75%	[15]	5.75%	[10]
Interest rate floor		10.50%	[15]	10.50%	[10]
Interest rate EOT		5.00%	[15]	5.00%	[10]
Outstanding Principal		$ 1,011		$ 3,075
Cost		1,036	[2]	3,110	[5]
Fair Value		1,036		3,110
Investment, Identifier [Axis]: Relay Commerce, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			60
Fair Value	[6],[11]			$ 28
Shares	[6],[11]			123,047
Investment, Identifier [Axis]: Relay Commerce, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	60
Fair Value	[9],[12]	$ 95
Shares	[9],[12]	123,047
Investment, Identifier [Axis]: Relay Commerce, Inc. 2
Interest rate margin		6.75%	[15]	5.75%	[10]
Interest rate floor		14.25%	[15]	10.50%	[10]
Interest rate EOT		2.00%	[15]	5.00%	[10]
Outstanding Principal		$ 4,500		$ 1,463
Cost		4,406	[2]	1,472	[5]
Fair Value		4,406		1,472
Investment, Identifier [Axis]: Relay Commerce, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			4
Fair Value	[6],[11]			$ 3
Shares	[6],[11]			12,305
Investment, Identifier [Axis]: Relay Commerce, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	4
Fair Value	[9],[12]	$ 9
Shares	[9],[12]	12,305
Investment, Identifier [Axis]: Relay Commerce, Inc. 3
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			10.50%
Interest rate EOT	[10]			5.00%
Outstanding Principal				$ 450
Cost	[5]			446
Fair Value				446
Investment, Identifier [Axis]: Relay Commerce, Inc. 3 , Warrant Investments
Cost	[5],[6],[11]			7
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			24,610
Investment, Identifier [Axis]: Relay Commerce, Inc. 3, Warrant Investments
Cost	[2],[9],[12]	$ 7
Fair Value	[9],[12]	$ 19
Shares	[9],[12]	24,610
Investment, Identifier [Axis]: Relay Commerce, Inc. 4
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			13.75%
Interest rate EOT	[10]			5.00%
Outstanding Principal				$ 500
Cost	[5]			494
Fair Value				$ 494
Investment, Identifier [Axis]: Relay Commerce, Inc. 4, Warrant Investments
Cost	[2],[9],[12]	$ 26
Fair Value	[9],[12]	$ 26
Shares	[9],[12]	36,200
Investment, Identifier [Axis]: Relay Commerce, Inc. 5
Interest rate margin	[10]			5.75%
Interest rate floor	[10]			14.25%
Interest rate EOT	[10]			5.00%
Outstanding Principal				$ 750
Cost	[5]			734
Fair Value				$ 734
Investment, Identifier [Axis]: RenoRun, Inc.
Interest rate margin	[13],[14],[20]			10.50%
Interest rate floor	[13],[14],[20]			13.75%
Interest rate EOT	[13],[14],[20]			8.25%
Outstanding Principal	[13],[14],[20]			$ 37
Cost	[5],[13],[14],[20]			32
Fair Value	[13],[14],[20]			96
Investment, Identifier [Axis]: Roadsurfer GmbH 1
Interest rate margin	[15],[16],[17]	2.50%
Interest rate floor	[15],[16],[17]	11.00%
Interest rate EOT	[15],[16],[17]	4.50%
Outstanding Principal	[16],[17]	$ 5,015
Cost	[2],[16],[17]	4,598
Fair Value	[16],[17]	$ 4,775
Investment, Identifier [Axis]: Roadsurfer GmbH 2
Interest rate margin	[15],[16],[17]	2.50%
Interest rate floor	[15],[16],[17]	11.00%
Interest rate EOT	[15],[16],[17]	4.50%
Outstanding Principal	[16],[17]	$ 2,507
Cost	[2],[16],[17]	2,300
Fair Value	[16],[17]	2,388
Investment, Identifier [Axis]: Roadsurfer GmbH., Warrant Investments
Cost	[2],[9],[12],[16],[17]	669
Fair Value	[9],[12],[16],[17]	$ 697
Shares	[9],[12],[16],[17]	90
Investment, Identifier [Axis]: Roofstock, Inc. (f/k/a Mynd Management, Inc.) 1, Warrant Investments
Cost	[2],[9],[12]	$ 83
Fair Value	[9],[12]	$ 107
Shares	[9],[12]	26,362
Investment, Identifier [Axis]: Roofstock, Inc. (f/k/a Mynd Management, Inc.) 2, Warrant Investments
Cost	[2],[9],[12]	$ 1
Fair Value	[9],[12]	$ 11
Shares	[9],[12]	3,279
Investment, Identifier [Axis]: Roofstock, Inc. (f/k/a Mynd Management, Inc.) 3, Warrant Investments
Cost	[2],[9],[12]	$ 11
Fair Value	[9],[12]	$ 120
Shares	[9],[12]	34,977
Investment, Identifier [Axis]: SafelyYou Inc. , Warrant Investments
Cost	[5],[6],[11]			21
Fair Value	[6],[11]			$ 187
Shares	[6],[11]			69,346
Investment, Identifier [Axis]: SafelyYou Inc., Warrant Investments
Cost	[2],[9],[12]	$ 21
Fair Value	[9],[12]	$ 187
Shares	[9],[12]	69,346
Investment, Identifier [Axis]: SiSense, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 95
Fair Value	[6],[11]			$ 233
Shares	[6],[11]			0
Investment, Identifier [Axis]: SiSense, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 95
Fair Value	[9],[12]	$ 233
Shares	[9],[12]	0
Investment, Identifier [Axis]: Side, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 57
Fair Value	[6],[11]			$ 583
Shares	[6],[11]			71,501
Investment, Identifier [Axis]: Side, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 57
Fair Value	[9],[12]	$ 583
Shares	[9],[12]	71,501
Investment, Identifier [Axis]: Sidecar Health, Inc.
Interest rate margin				7.25%
Interest rate floor				10.50%
Interest rate EOT				8.00%
Outstanding Principal				$ 8,000
Cost	[5]			8,343
Fair Value				8,343
Investment, Identifier [Axis]: Sidecar Health, Inc. , Warrant Investments
Cost	[5],[6],[11]			34
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			32,620
Investment, Identifier [Axis]: Sidecar Health, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 34
Fair Value	[9],[12]	$ 41
Shares	[9],[12]	32,620
Investment, Identifier [Axis]: Skyflow Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 31
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			19,441
Investment, Identifier [Axis]: Skyflow Inc. 1
Interest rate margin		1.50%		1.75%
Interest rate floor		9.50%		9.75%
Interest rate EOT		5.00%		4.50%
Outstanding Principal		$ 4,545		$ 4,545
Cost		4,518	[2]	4,497	[5]
Fair Value		4,518		$ 4,497
Investment, Identifier [Axis]: Skyflow Inc. 1, Equity Investments
Cost	[2],[9]	62
Fair Value	[9]	$ 62
Shares	[9]	19,945
Investment, Identifier [Axis]: Skyflow Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 31
Fair Value	[9],[12]	$ 34
Shares	[9],[12]	39,890
Investment, Identifier [Axis]: Skyflow Inc. 2
Interest rate margin		1.50%		5.00%
Interest rate floor		9.50%		13.00%
Interest rate EOT		5.00%		4.50%
Outstanding Principal		$ 455		$ 455
Cost		451	[2]	450	[5]
Fair Value		451		$ 450
Investment, Identifier [Axis]: Skyflow Inc. 2, Equity Investments
Cost	[2],[9]	450
Fair Value	[9]	$ 450
Shares	[9]	143,604
Investment, Identifier [Axis]: Skyflow Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 25
Fair Value	[9],[12]	$ 13
Shares	[9],[12]	15,956
Investment, Identifier [Axis]: Spinn, Inc.
Interest rate margin		4.75%	[15],[19]	4.75%	[10],[20]
Interest rate floor		8.00%	[15],[19]	8.00%	[10],[20]
Interest rate EOT		4.50%	[15],[19]	4.50%	[10],[20]
Outstanding Principal		$ 794	[19]	$ 794	[20]
Cost		819	[2],[19]	819	[5],[20]
Fair Value		36	[19]	500	[20]
Investment, Identifier [Axis]: Spinn, Inc. , Warrant Investments
Cost	[5],[6],[11]			10
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			8,142
Investment, Identifier [Axis]: Spinn, Inc., Warrant Investments
Cost	[2],[9],[12]	10
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	8,142
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 1
Interest rate margin	[20]			6.50%
Interest rate floor		15.00%	[19]	15.00%	[20]
Interest rate EOT		6.87%	[19]	6.87%	[20]
Interest rate PIK	[19]	6.50%
Outstanding Principal		$ 782	[19]	$ 782	[20]
Cost		874	[2],[19]	874	[5],[20]
Fair Value		78	[19]	860	[20]
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			80
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			21,084
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	80
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	21,084
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 2
Interest rate margin	[20]			6.50%
Interest rate floor	[20]			15.00%
Interest rate EOT	[20]			7.13%
Outstanding Principal	[20]			$ 534
Cost	[5],[20]			576
Fair Value	[20]			568
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			105
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			27,559
Investment, Identifier [Axis]: Spire Animation Studios, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 105
Fair Value	[9],[12]	$ 0
Shares	[9],[12]	27,559
Investment, Identifier [Axis]: Spire Animation Studios, Inc.2
Interest rate floor	[19]	15.00%
Interest rate EOT	[19]	7.13%
Interest rate PIK	[19]	6.50%
Outstanding Principal	[19]	$ 534
Cost	[2],[19]	576
Fair Value	[19]	64
Investment, Identifier [Axis]: Strata Identity, Inc. , Equity Investments
Cost	[5],[6]			$ 250
Fair Value	[6]			$ 244
Shares	[6]			71,633
Investment, Identifier [Axis]: Strata Identity, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 4
Fair Value	[6],[11]			$ 4
Shares	[6],[11]			4,297
Investment, Identifier [Axis]: Strata Identity, Inc., Equity Investments
Cost	[2],[9]	250
Fair Value	[9]	$ 244
Shares	[9]	71,633
Investment, Identifier [Axis]: Strata Identity, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 4
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	4,297
Investment, Identifier [Axis]: SubStack, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 6
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			1,141
Investment, Identifier [Axis]: SubStack, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 6
Fair Value	[9],[12]	$ 6
Shares	[9],[12]	1,141
Investment, Identifier [Axis]: Swift Navigation, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 39
Fair Value	[6],[11]			$ 109
Shares	[6],[11]			46,589
Investment, Identifier [Axis]: Swift Navigation, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 39
Fair Value	[9],[12]	$ 109
Shares	[9],[12]	46,589
Investment, Identifier [Axis]: Sylva, Inc. 1
Interest rate margin		3.25%
Interest rate floor		6.50%		6.50%
Interest rate EOT		1.00%		1.00%
Interest rate PIK				3.25%
Outstanding Principal		$ 903		$ 885
Cost		922	[2]	900	[5]
Fair Value		830		896
Investment, Identifier [Axis]: Sylva, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			30
Fair Value	[6],[11]			$ 113
Shares	[6],[11]			44,872
Investment, Identifier [Axis]: Sylva, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	30
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	44,872
Investment, Identifier [Axis]: Sylva, Inc. 2
Interest rate margin		5.50%
Interest rate floor		8.75%		8.75%
Interest rate EOT		3.50%		3.50%
Interest rate PIK				5.50%
Outstanding Principal		$ 984		$ 962
Cost		1,021	[2]	988	[5]
Fair Value		919		980
Investment, Identifier [Axis]: Sylva, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			30
Fair Value	[6],[11]			$ 113
Shares	[6],[11]			44,872
Investment, Identifier [Axis]: Sylva, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	30
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	44,872
Investment, Identifier [Axis]: Sylva, Inc. 3
Interest rate margin		5.50%
Interest rate floor		8.75%		8.75%
Interest rate EOT		3.50%		3.50%
Interest rate PIK				5.50%
Outstanding Principal		$ 1,325		$ 1,294
Cost		1,374	[2]	1,329	[5]
Fair Value		$ 1,237		$ 1,318
Investment, Identifier [Axis]: Sylva, Inc. 4
Interest rate margin		5.50%
Interest rate floor		8.75%		8.75%
Interest rate EOT		3.50%		3.50%
Interest rate PIK				5.50%
Outstanding Principal		$ 1,590		$ 1,553
Cost		1,649	[2]	1,595	[5]
Fair Value		$ 1,484		$ 1,582
Investment, Identifier [Axis]: Sylva, Inc. 5
Interest rate margin		5.50%
Interest rate floor		8.75%		8.75%
Interest rate EOT		3.50%		3.50%
Interest rate PIK				5.50%
Outstanding Principal		$ 1,590		$ 1,553
Cost		1,649	[2]	1,595	[5]
Fair Value		$ 1,484		$ 1,582
Investment, Identifier [Axis]: Sylva, Inc. 6
Interest rate margin		5.50%
Interest rate floor		8.75%		8.75%
Interest rate EOT		3.50%		3.50%
Interest rate PIK				5.50%
Outstanding Principal		$ 795		$ 777
Cost		825	[2]	797	[5]
Fair Value		$ 742		$ 791
Investment, Identifier [Axis]: Sylva, Inc. 7
Interest rate margin	[15]	9.00%
Interest rate floor		17.50%	[15]	17.50%	[10]
Interest rate EOT		4.00%	[15]	4.00%	[10]
Interest rate PIK	[10]			9.00%
Outstanding Principal		$ 111		$ 108
Cost		115	[2]	109	[5]
Fair Value		104		$ 108
Investment, Identifier [Axis]: TFG Holding, Inc 1
Interest rate margin	[20]			8.75%
Interest rate floor	[20]			12.00%
Interest rate EOT	[20]			7.50%
Outstanding Principal	[20]			$ 4,433
Cost	[5],[20]			4,714
Fair Value	[20]			$ 4,300
Investment, Identifier [Axis]: TFG Holding, Inc 2
Interest rate margin	[20]			8.75%
Interest rate floor	[20]			12.00%
Interest rate EOT	[20]			7.50%
Outstanding Principal	[20]			$ 2,955
Cost	[5],[20]			3,006
Fair Value	[20]			2,887
Investment, Identifier [Axis]: TFG Holding, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			249
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			70,203
Investment, Identifier [Axis]: TFG Holding, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 26
Fair Value	[6],[11]			$ 0
Shares	[6],[11]			9,360
Investment, Identifier [Axis]: TFG Holding, Inc. 3
Interest rate margin	[20]			7.25%
Interest rate floor	[20]			10.50%
Interest rate EOT	[20]			7.00%
Outstanding Principal	[20]			$ 986
Cost	[5],[20]			1,000
Fair Value	[20]			958
Investment, Identifier [Axis]: TMRW Sports, Inc., Equity Investments
Cost	[2],[9]	500
Fair Value	[9]	$ 500
Shares	[9]	40,174
Investment, Identifier [Axis]: Tempo Interactive Inc. , Warrant Investments
Cost	[5],[6],[11]			25
Fair Value	[6],[11]			$ 4
Shares	[6],[11]			4,413
Investment, Identifier [Axis]: Tempo Interactive Inc., Warrant Investments
Cost	[2],[9],[12]	$ 25
Fair Value	[9],[12]	$ 4
Shares	[9],[12]	4,413
Investment, Identifier [Axis]: Tempus Ex Machina, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 38
Fair Value	[6],[11]			$ 38
Shares	[6],[11]			53,879
Investment, Identifier [Axis]: Tempus Ex Machina, Inc. 1
Interest rate margin		5.00%	[15]	5.00%	[10]
Interest rate floor		10.50%	[15]	10.50%	[10]
Interest rate EOT		5.25%	[15]	5.25%	[10]
Outstanding Principal		$ 2,000		$ 2,000
Cost		2,031	[2]	2,003	[5]
Fair Value		$ 2,031		$ 2,003
Investment, Identifier [Axis]: Tempus Ex Machina, Inc. 2
Interest rate margin		5.25%	[15]	5.25%	[10]
Interest rate floor		11.25%	[15]	11.25%	[10]
Interest rate EOT		5.50%	[15]	5.50%	[10]
Outstanding Principal		$ 7,000		$ 7,000
Cost		7,081	[2]	6,980	[5]
Fair Value		7,081		6,980
Investment, Identifier [Axis]: The Aligned Company 1 , Warrant Investments
Cost	[5],[6],[11]			50
Fair Value	[6],[11]			$ 574
Shares	[6],[11]			17,564
Investment, Identifier [Axis]: The Aligned Company 2, Warrant Investments
Cost	[5],[6],[11]			$ 8
Fair Value	[6],[11]			$ 6
Shares	[6],[11]			569
Investment, Identifier [Axis]: The Black Tux Holdings, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 139
Fair Value	[6],[11]			$ 460
Shares	[6],[11]			142,939
Investment, Identifier [Axis]: The Black Tux Holdings, Inc., Warrant Investments
Cost	[2],[9],[12]	139
Fair Value	[9],[12]	$ 460
Shares	[9],[12]	142,939
Investment, Identifier [Axis]: Thirty Madison, Inc. 1
Interest rate margin	[15]	2.42%
Interest rate floor	[15]	6.25%
Interest rate EOT	[15]	6.00%
Interest rate PIK	[15]	2.33%
Outstanding Principal		$ 9,328
Cost	[2]	9,486
Fair Value		$ 9,195
Investment, Identifier [Axis]: Thirty Madison, Inc. 2
Interest rate margin	[15]	2.42%
Interest rate floor	[15]	6.25%
Interest rate EOT	[15]	6.00%
Interest rate PIK	[15]	2.33%
Outstanding Principal		$ 702
Cost	[2]	699
Fair Value		$ 678
Investment, Identifier [Axis]: Thoughtful Automation Inc.
Interest rate margin		3.75%
Interest rate floor		12.25%
Interest rate EOT		6.00%
Outstanding Principal		$ 2,439
Cost	[2]	2,408
Fair Value		2,408
Investment, Identifier [Axis]: Thoughtful Automation Inc. Warrant Investments
Cost	[2],[9],[12]	62
Fair Value	[9],[12]	$ 49
Shares	[9],[12]	36,745
Investment, Identifier [Axis]: Tide Holdings Limited , Warrant Investments
Cost	[5],[6],[11],[13],[14]			$ 45
Fair Value	[6],[11],[13],[14]			$ 151
Shares	[6],[11],[13],[14]			52,609
Investment, Identifier [Axis]: Tide Holdings Limited, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 45
Fair Value	[9],[12],[16],[17]	$ 159
Shares	[9],[12],[16],[17]	52,609
Investment, Identifier [Axis]: Tide Platform Limited , Equity Investments
Cost	[5],[6],[13],[14]			$ 515
Fair Value	[6],[13],[14]			$ 481
Shares	[6],[13],[14]			43,338
Investment, Identifier [Axis]: Tide Platform Limited 1
Interest rate EOT	[13],[14]			6.50%
Outstanding Principal	[13],[14]			$ 1,863
Cost	[5],[13],[14]			2,128
Fair Value	[13],[14]			$ 2,029
Investment interest rate	[13],[14]			10.00%
Investment, Identifier [Axis]: Tide Platform Limited 2
Interest rate EOT	[13],[14]			4.00%
Outstanding Principal	[13],[14]			$ 1,768
Cost	[5],[13],[14]			1,830
Fair Value	[13],[14]			$ 1,642
Investment interest rate	[13],[14]			10.25%
Investment, Identifier [Axis]: Tide Platform Limited, Equity Investments
Cost	[2],[9],[16],[17]	$ 515
Fair Value	[9],[16],[17]	$ 505
Shares	[9],[16],[17]	43,338
Investment, Identifier [Axis]: Tide Platform Limited, Growth Capital Loan
Interest rate EOT	[16],[17]	6.50%
Outstanding Principal	[16],[17]	$ 484
Cost	[2],[16],[17]	795
Fair Value	[16],[17]	$ 802
Investment interest rate	[16],[17]	10.00%
Investment, Identifier [Axis]: Tide Platform Limited, Revolver
Interest rate EOT	[16],[17]	4.00%
Outstanding Principal	[16],[17]	$ 1,768
Cost	[2],[16],[17]	1,814
Fair Value	[16],[17]	$ 1,708
Investment interest rate	[16],[17]	10.25%
Investment, Identifier [Axis]: Trendly, Inc 1
Interest rate margin		7.75%
Interest rate floor		11.00%
Interest rate EOT		8.50%
Outstanding Principal		$ 6,500
Cost	[2]	7,008
Fair Value		$ 6,993
Investment, Identifier [Axis]: Trendly, Inc 2
Interest rate margin	[15]	7.75%
Interest rate floor	[15]	11.00%
Interest rate EOT	[15]	8.50%
Outstanding Principal		$ 1,000
Cost	[2]	1,040
Fair Value		1,040
Investment, Identifier [Axis]: Trendly, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 115
Fair Value	[6],[11]			$ 305
Shares	[6],[11]			191,580
Investment, Identifier [Axis]: Trendly, Inc. 1
Interest rate margin				7.75%
Interest rate floor				11.00%
Interest rate EOT				8.50%
Outstanding Principal				$ 6,500
Cost	[5]			6,824
Fair Value				$ 6,824
Investment, Identifier [Axis]: Trendly, Inc. 2
Interest rate margin	[10]			7.75%
Interest rate floor	[10]			11.00%
Interest rate EOT	[10]			8.50%
Outstanding Principal				$ 1,000
Cost	[5]			1,018
Fair Value				1,018
Investment, Identifier [Axis]: Trendly, Inc., Warrant Investments
Cost	[2],[9],[12]	115
Fair Value	[9],[12]	$ 199
Shares	[9],[12]	191,580
Investment, Identifier [Axis]: Tripscout, Inc. , Warrant Investments
Cost	[5],[6],[11]			7
Fair Value	[6],[11]			$ 7
Shares	[6],[11]			37,532
Investment, Identifier [Axis]: Tripscout, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 7
Fair Value	[9],[12]	$ 7
Shares	[9],[12]	37,532
Investment, Identifier [Axis]: True Footage, Inc. , Equity Investments
Cost	[5],[6]			$ 100
Fair Value	[6]			$ 122
Shares	[6]			18,366
Investment, Identifier [Axis]: True Footage, Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 122
Fair Value	[6],[11]			$ 287
Shares	[6],[11]			88,762
Investment, Identifier [Axis]: True Footage, Inc. 1
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 250		$ 250
Cost		265	[2]	258	[5]
Fair Value		$ 265		$ 256
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 10
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 170		$ 170
Cost		180	[2]	175	[5]
Fair Value		$ 180		$ 173
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 11
Interest rate EOT		8.00%		8.00%
Outstanding Principal		$ 116		$ 116
Cost		123	[2]	119	[5]
Fair Value		$ 123		$ 118
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 12
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 300		$ 300
Cost		315	[2]	307	[5]
Fair Value		$ 315		$ 304
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 13
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 1,110		$ 1,110
Cost		1,163	[2]	1,134	[5]
Fair Value		$ 1,163		$ 1,119
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 14
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 991		$ 991
Cost		1,038	[2]	1,012	[5]
Fair Value		$ 1,038		$ 999
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 15
Interest rate EOT		8.00%	[15]	8.00%	[10]
Outstanding Principal		$ 216		$ 216
Cost		227	[2]	221	[5]
Fair Value		$ 227		$ 218
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 16
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 200		$ 200
Cost		206	[2]	202	[5]
Fair Value		$ 206		$ 199
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 17
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 100		$ 100
Cost		104	[2]	101	[5]
Fair Value		$ 104		$ 100
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 18
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 150		$ 150
Cost		154	[2]	150	[5]
Fair Value		$ 154		$ 147
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 19
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 361		$ 361
Cost		370	[2]	362	[5]
Fair Value		$ 370		$ 355
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 2
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 800		$ 800
Cost		841	[2]	822	[5]
Fair Value		$ 841		$ 813
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 20
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 565		$ 565
Cost		576	[2]	565	[5]
Fair Value		$ 576		$ 554
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 21
Interest rate EOT		6.00%	[15]	6.00%	[10]
Outstanding Principal		$ 240		$ 240
Cost		242	[2]	238	[5]
Fair Value		$ 242		$ 232
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 22
Interest rate EOT		7.00%	[15]	7.00%	[10]
Outstanding Principal		$ 434		$ 434
Cost		440	[2]	430	[5]
Fair Value		$ 440		$ 421
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 23
Interest rate EOT		8.00%	[15]	8.00%	[10]
Outstanding Principal		$ 720		$ 720
Cost		732	[2]	715	[5]
Fair Value		$ 732		$ 699
Investment interest rate		11.00%	[15]	11.00%	[10]
Investment, Identifier [Axis]: True Footage, Inc. 3
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 220		$ 220
Cost		233	[2]	227	[5]
Fair Value		$ 233		$ 225
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 4
Interest rate EOT		8.00%		8.00%
Outstanding Principal		$ 105		$ 105
Cost		112	[2]	109	[5]
Fair Value		$ 112		$ 108
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 5
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 440		$ 440
Cost		467	[2]	455	[5]
Fair Value		$ 467		$ 450
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 6
Interest rate EOT		7.00%		7.00%
Outstanding Principal		$ 208		$ 208
Cost		221	[2]	215	[5]
Fair Value		$ 221		$ 213
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 7
Interest rate EOT		8.00%		8.00%
Outstanding Principal		$ 150		$ 150
Cost		160	[2]	156	[5]
Fair Value		$ 160		$ 154
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 8
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 1,372		$ 1,372
Cost		1,442	[2]	1,409	[5]
Fair Value		$ 1,442		$ 1,395
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc. 9
Interest rate EOT		6.00%		6.00%
Outstanding Principal		$ 760		$ 760
Cost		799	[2]	780	[5]
Fair Value		$ 799		$ 772
Investment interest rate		11.00%		11.00%
Investment, Identifier [Axis]: True Footage, Inc., Equity Investments
Cost	[2],[9]	$ 100
Fair Value	[9]	$ 122
Shares	[9]	18,366
Investment, Identifier [Axis]: True Footage, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 122
Fair Value	[9],[12]	$ 287
Shares	[9],[12]	88,762
Investment, Identifier [Axis]: Trueskin GmbH
Interest rate margin		5.75%	[15],[16],[17]	5.75%	[10],[13],[14]
Interest rate floor		9.00%	[15],[16],[17]	9.00%	[10],[13],[14]
Interest rate EOT		8.25%	[15],[16],[17]	8.25%	[10],[13],[14]
Outstanding Principal		$ 923	[16],[17]	$ 1,077	[13],[14]
Cost		971	[2],[16],[17]	1,093	[5],[13],[14]
Fair Value		1,007	[16],[17]	1,120	[13],[14]
Investment, Identifier [Axis]: Trueskin GmbH , Warrant Investments
Cost	[5],[6],[11],[13],[14]			9
Fair Value	[6],[11],[13],[14]			$ 9
Shares	[6],[11],[13],[14]			20
Investment, Identifier [Axis]: Trueskin GmbH, Warrant Investments
Cost	[2],[9],[12],[16],[17]	9
Fair Value	[9],[12],[16],[17]	$ 9
Shares	[9],[12],[16],[17]	20
Investment, Identifier [Axis]: Underground Enterprises, Inc. 1
Interest rate margin	[10],[20]			3.00%
Interest rate floor	[10],[20]			6.50%
Interest rate EOT	[10],[20]			1.00%
Outstanding Principal	[20]			$ 372
Cost	[5],[20]			371
Fair Value	[20]			$ 57
Investment, Identifier [Axis]: Underground Enterprises, Inc. 2
Interest rate margin	[10],[20]			3.75%
Interest rate floor	[10],[20]			7.25%
Interest rate EOT	[10],[20]			5.50%
Outstanding Principal	[20]			$ 248
Cost	[5],[20]			251
Fair Value	[20]			$ 38
Investment, Identifier [Axis]: Underground Enterprises, Inc. 3
Interest rate margin	[10],[20]			3.75%
Interest rate floor	[10],[20]			7.25%
Interest rate EOT	[10],[20]			5.50%
Outstanding Principal	[20]			$ 371
Cost	[5],[20]			374
Fair Value	[20]			57
Investment, Identifier [Axis]: Uniphore Technologies, Inc. , Equity Investments
Cost	[5],[6]			100
Fair Value	[6]			$ 82
Shares	[6]			8,066
Investment, Identifier [Axis]: Uniphore Technologies, Inc. 1
Interest rate EOT				4.00%
Outstanding Principal				$ 1,028
Cost	[5]			1,095
Fair Value				$ 1,093
Investment interest rate				11.00%
Investment, Identifier [Axis]: Uniphore Technologies, Inc. 2
Interest rate EOT				4.00%
Outstanding Principal				$ 1,028
Cost	[5]			1,095
Fair Value				$ 1,093
Investment interest rate				11.00%
Investment, Identifier [Axis]: Uniphore Technologies, Inc., Equity Investments
Cost	[2],[9]	$ 100
Fair Value	[9]	$ 82
Shares	[9]	8,066
Investment, Identifier [Axis]: Uniphore Technologies, Inc., Warrant Investments
Cost		$ 10	[2],[9],[12]	$ 10	[5],[6],[11]
Fair Value		$ 29	[9],[12]	$ 29	[6],[11]
Shares		10,000	[9],[12]	10,000	[6],[11]
Investment, Identifier [Axis]: Upgrade, Inc., Warrant Investments
Cost		$ 44	[2],[9],[12]	$ 44	[5],[6],[11]
Fair Value		$ 109	[9],[12]	$ 108	[6],[11]
Shares		273,738	[9],[12]	273,738	[6],[11]
Investment, Identifier [Axis]: Vecna Robotics, Inc.
Interest rate margin	[10]			3.25%
Interest rate floor	[10]			10.75%
Interest rate EOT	[10]			9.00%
Outstanding Principal				$ 4,500
Cost	[5]			4,376
Fair Value				4,376
Investment, Identifier [Axis]: Vecna Robotics, Inc. , Warrant Investments
Cost	[5],[6],[11]			308
Fair Value	[6],[11]			$ 166
Shares	[6],[11]			51,590
Investment, Identifier [Axis]: Vecna Robotics, Inc., Warrant Investments
Cost	[2],[9],[12]	$ 308
Fair Value	[9],[12]	$ 70
Shares	[9],[12]	51,590
Investment, Identifier [Axis]: Vestwell Holding Inc, Warrant Investments
Cost	[2],[9],[12]	$ 54
Fair Value	[9],[12]	$ 30
Shares	[9],[12]	36,715
Investment, Identifier [Axis]: Vestwell Holdings Inc. , Warrant Investments
Cost	[5],[6],[11]			$ 54
Fair Value	[6],[11]			$ 30
Shares	[6],[11]			36,715
Investment, Identifier [Axis]: Virtual Facility, Inc.
Interest rate margin	[10]			2.50%
Interest rate floor	[10]			10.50%
Interest rate EOT	[10]			8.50%
Outstanding Principal				$ 1,000
Cost	[5]			976
Fair Value				976
Investment, Identifier [Axis]: Virtual Facility, Inc. , Warrant Investments
Cost	[5],[6],[11]			16
Fair Value	[6],[11]			$ 16
Shares	[6],[11]			54,775
Investment, Identifier [Axis]: Virtual Facility, Inc., Growth Capital Loan
Interest rate margin	[15]	2.50%
Interest rate floor	[15]	10.50%
Interest rate EOT	[15]	8.50%
Outstanding Principal		$ 1,000
Cost	[2]	1,000
Fair Value		1,000
Investment, Identifier [Axis]: Virtual Facility, Inc., Warrant Investments
Cost	[2],[9],[12]	16
Fair Value	[9],[12]	$ 16
Shares	[9],[12]	54,775
Investment, Identifier [Axis]: Well Dot, Inc. , Equity Investments
Cost	[5],[6]			$ 250
Fair Value	[6]			$ 322
Shares	[6]			26,416
Investment, Identifier [Axis]: Well Dot, Inc. 1 , Warrant Investments
Cost	[5],[6],[11]			$ 55
Fair Value	[6],[11]			$ 67
Shares	[6],[11]			12,680
Investment, Identifier [Axis]: Well Dot, Inc. 1, Warrant Investments
Cost	[2],[9],[12]	$ 55
Fair Value	[9],[12]	$ 67
Shares	[9],[12]	12,680
Investment, Identifier [Axis]: Well Dot, Inc. 2 , Warrant Investments
Cost	[5],[6],[11]			$ 9
Fair Value	[6],[11]			$ 9
Shares	[6],[11]			2,026
Investment, Identifier [Axis]: Well Dot, Inc. 2, Warrant Investments
Cost	[2],[9],[12]	$ 9
Fair Value	[9],[12]	$ 9
Shares	[9],[12]	2,026
Investment, Identifier [Axis]: Well Dot, Inc., Equity Investments
Cost	[2],[9]	$ 250
Fair Value	[9]	$ 322
Shares	[9]	26,416
Investment, Identifier [Axis]: Wisetack, Inc.
Interest rate margin		4.75%	[17]	4.75%	[14]
Interest rate floor		10.25%	[17]	10.25%	[14]
Interest rate EOT		6.75%	[17]	6.75%	[14]
Outstanding Principal		$ 5,000	[17]	$ 5,000	[14]
Cost		5,067	[2],[17]	4,960	[5],[14]
Fair Value		5,067	[17]	4,960	[14]
Investment, Identifier [Axis]: Wisetack, Inc. , Warrant Investments
Cost	[5],[6],[11],[14]			84
Fair Value	[6],[11],[14]			$ 57
Shares	[6],[11],[14]			23,086
Investment, Identifier [Axis]: Wisetack, Inc., Warrant Investments
Cost	[2],[9],[12],[17]	84
Fair Value	[9],[12],[17]	$ 36
Shares	[9],[12],[17]	23,086
Investment, Identifier [Axis]: Wispr AI, Inc. , Warrant Investments
Cost	[5],[6],[11],[18]			$ 0
Fair Value	[6],[11],[18]			$ 0
Shares	[6],[11],[18]			0
Investment, Identifier [Axis]: Wispr AI, Inc., Warrant Investments
Cost	[2],[9],[12],[21]	$ 0
Fair Value	[9],[12],[21]	$ 0
Shares	[9],[12],[21]	0
Investment, Identifier [Axis]: WorkStep Inc., Warrant Investments
Cost	[2],[9],[12]	$ 12
Fair Value	[9],[12]	$ 31
Shares	[9],[12]	17,244
Investment, Identifier [Axis]: WorkStep Inc., Warrant Investments , Warrant Investments
Cost	[5],[6],[11]			$ 12
Fair Value	[6],[11]			$ 31
Shares	[6],[11]			17,244
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 1
Interest rate margin	[10],[13],[14]			6.75%
Interest rate floor	[10],[13],[14]			10.00%
Interest rate EOT	[10],[13],[14]			6.00%
Outstanding Principal	[13],[14]			$ 377
Cost	[5],[13],[14]			386
Fair Value	[13],[14]			407
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 1 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			25
Fair Value	[6],[11],[13],[14]			$ 27
Shares	[6],[11],[13],[14]			1,502
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 1, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 25
Fair Value	[9],[12],[16],[17]	$ 28
Shares	[9],[12],[16],[17]	1,502
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 2
Interest rate margin	[10],[13],[14]			4.75%
Interest rate floor	[10],[13],[14]			8.00%
Interest rate EOT	[10],[13],[14]			3.00%
Outstanding Principal	[13],[14]			$ 482
Cost	[5],[13],[14]			485
Fair Value	[13],[14]			513
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 2 , Warrant Investments
Cost	[5],[6],[11],[13],[14]			9
Fair Value	[6],[11],[13],[14]			$ 10
Shares	[6],[11],[13],[14]			542
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 2, Warrant Investments
Cost	[2],[9],[12],[16],[17]	$ 9
Fair Value	[9],[12],[16],[17]	$ 10
Shares	[9],[12],[16],[17]	542
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited 3
Interest rate margin	[10],[13],[14]			6.75%
Interest rate floor	[10],[13],[14]			10.00%
Interest rate EOT	[10],[13],[14]			6.00%
Outstanding Principal	[13],[14]			$ 244
Cost	[5],[13],[14]			245
Fair Value	[13],[14]			256
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited, 1
Interest rate margin	[15],[16],[17]	6.75%
Interest rate floor	[15],[16],[17]	10.00%
Interest rate EOT	[15],[16],[17]	6.00%
Outstanding Principal	[16],[17]	$ 199
Cost	[2],[16],[17]	221
Fair Value	[16],[17]	$ 244
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited, 2
Interest rate margin	[15],[16],[17]	4.75%
Interest rate floor	[15],[16],[17]	8.00%
Interest rate EOT	[15],[16],[17]	3.00%
Outstanding Principal	[16],[17]	$ 633
Cost	[2],[16],[17]	649
Fair Value	[16],[17]	$ 713
Investment, Identifier [Axis]: Worldwide Freight Logistics Limited, 3
Interest rate margin	[15],[16],[17]	6.75%
Interest rate floor	[15],[16],[17]	10.00%
Interest rate EOT	[15],[16],[17]	6.00%
Outstanding Principal	[16],[17]	$ 244
Cost	[2],[16],[17]	249
Fair Value	[16],[17]	273
Investment, Identifier [Axis]: Zolve Innovations Inc. , Warrant Investments
Cost	[5],[6],[11]			9
Fair Value	[6],[11]			$ 9
Shares	[6],[11]			3,172
Investment, Identifier [Axis]: Zolve Innovations Inc., Warrant Investments
Cost	[2],[9],[12]	9
Fair Value	[9],[12]	$ 9
Shares	[9],[12]	3,172
Debt Investments
Outstanding Principal		$ 360,203		$ 382,144
Cost		361,017	[2]	383,570	[5]
Fair Value		$ 346,056		$ 375,025
Percentage of net assets		123.14%	[4]	129.08%	[8]
Warrant Investments
Cost		$ 15,122	[2]	$ 13,419	[5]
Fair Value		$ 18,313		$ 16,915
Percentage of net assets		6.52%	[4],[9],[12]	5.82%	[6],[8],[11]
Equity Investments
Cost		$ 17,651	[2],[9]	$ 9,444	[5],[6]
Fair Value		$ 16,472	[9]	$ 8,255	[6]
Percentage of net assets		5.86%	[4],[9]	2.84%	[6],[8]
Cash Equivalents
Cost		$ 57,059		$ 45,013
Fair Value		$ 57,059		$ 45,013
Percentage of net assets		20.30%	[4]	15.49%	[8]
Aerospace and Defense | Debt Investments
Outstanding Principal		$ 3,000		$ 3,476
Cost		2,966	[2]	3,652	[5]
Fair Value		$ 2,966		$ 3,652
Percentage of net assets		1.06%	[4]	1.26%	[8]
Aerospace and Defense | Debt Investments | Flo Health UK Limited
Outstanding Principal				$ 2,000
Cost	[5]			1,981
Fair Value				1,981
Aerospace and Defense | Debt Investments | FlashParking, Inc.
Outstanding Principal				11,556
Cost	[5]			12,038
Fair Value				12,063
Aerospace and Defense | Debt Investments | Tide Platform Limited
Outstanding Principal				3,631
Cost	[5]			3,958
Fair Value				3,671
Aerospace and Defense | Debt Investments | Cardless Inc.
Outstanding Principal				5,399
Cost	[5]			5,628
Fair Value				5,628
Aerospace and Defense | Debt Investments | Uniphore Technologies, Inc.
Outstanding Principal				2,056
Cost	[5]			2,190
Fair Value				2,186
Aerospace and Defense | Debt Investments | Loft Orbital Solutions, Inc.
Outstanding Principal				3,000
Cost	[5]			2,915
Fair Value				2,915
Aerospace and Defense | Debt Investments | Blueboard Inc.
Outstanding Principal				4,000
Cost	[5]			4,024
Fair Value				4,024
Aerospace and Defense | Warrant Investments
Cost		$ 311	[2],[9],[12]	311	[5],[6],[11]
Fair Value		$ 1,018	[9],[12]	$ 871	[6],[11]
Percentage of net assets		0.36%	[4],[9],[12]	0.30%	[6],[8],[11]
Application Software | Debt Investments
Outstanding Principal		$ 2,000		$ 5,333
Cost		1,965	[2]	5,253	[5]
Fair Value		$ 1,970		$ 5,253
Percentage of net assets		0.70%	[4]	1.81%	[8]
Application Software | Warrant Investments
Cost		$ 10	[2],[9],[12]	$ 71	[5],[6],[11]
Fair Value		$ 22	[9],[12]	$ 37	[6],[11]
Percentage of net assets		0.01%	[4],[9],[12]	0.01%	[6],[8],[11]
Application Software | Equity Investments
Cost	[2],[9]	$ 500
Fair Value	[9]	$ 500
Percentage of net assets	[4],[9]	0.18%
Business Applications Software | Debt Investments
Outstanding Principal		$ 19,321		$ 28,243
Cost		19,815	[2]	29,308	[5]
Fair Value		$ 19,517		$ 28,817
Percentage of net assets		6.95%	[4]	9.92%	[8]
Business Applications Software | Debt Investments | Tide Platform Limited
Outstanding Principal	[16],[17]	$ 2,252
Cost	[2],[16],[17]	2,609
Fair Value	[16],[17]	2,510
Business Applications Software | Warrant Investments
Cost		815	[2],[9],[12]	$ 781	[5],[6],[11]
Fair Value		$ 1,406	[9],[12]	$ 1,093	[6],[11]
Percentage of net assets		0.50%	[4],[9],[12]	0.38%	[6],[8],[11]
Business Applications Software | Warrant Investments | FlashParking, Inc.
Cost		$ 526	[2],[9],[12]	$ 450	[5],[6],[11]
Fair Value		798	[9],[12]	720	[6],[11]
Business Applications Software | Equity Investments
Cost		1,100	[2],[9]	1,100	[5],[6]
Fair Value		$ 1,112	[9]	$ 1,000	[6]
Percentage of net assets		0.40%	[4],[9]	0.34%	[6],[8]
Business Products and Services | Debt Investments
Outstanding Principal		$ 26,464		$ 32,730
Cost		26,923	[2]	33,346	[5]
Fair Value		$ 21,463		$ 31,794
Percentage of net assets		7.64%	[4]	10.94%	[8]
Business Products and Services | Debt Investments | Cardless Inc.
Outstanding Principal		$ 4,428
Cost	[2]	4,702
Fair Value		4,702
Business Products and Services | Debt Investments | Path Robotics, Inc.
Outstanding Principal		4,569		$ 6,581
Cost		4,953	[2]	6,773	[5]
Fair Value		4,534		6,773
Business Products and Services | Debt Investments | Quick Commerce Ltd.
Outstanding Principal		929		1,750
Cost		768	[2]	1,765	[5]
Fair Value		717		1,682
Business Products and Services | Debt Investments | Rally Network, Inc.
Outstanding Principal		2,522		2,489
Cost		2,569	[2]	2,536	[5]
Fair Value		550		943
Business Products and Services | Debt Investments | Worldwide Freight Logistics Limited
Outstanding Principal		1,076	[16],[17]	1,103
Cost		1,119	[2],[16],[17]	1,116	[5]
Fair Value		1,230	[16],[17]	1,176
Business Products and Services | Warrant Investments
Cost		1,551	[2],[9],[12]	1,553	[5],[6],[11]
Fair Value		$ 950	[9],[12]	$ 1,159	[6],[11]
Percentage of net assets		0.34%	[4],[9],[12]	0.40%	[6],[8],[11]
Business Products and Services | Warrant Investments | Worldwide Freight Logistics Limited
Cost		$ 34	[2],[9],[12]	$ 34	[5],[6],[11]
Fair Value		38	[9],[12]	37	[6],[11]
Business Products and Services | Warrant Investments | Alloy Technologies, Inc.
Cost	[2]	74
Fair Value	[9],[12]	56
Business Products and Services | Warrant Investments | Cart.com, Inc.
Cost		125	[2],[9],[12]	125	[5],[6],[11]
Fair Value		170	[9],[12]	170	[6],[11]
Business Products and Services | Warrant Investments | Certamen Ventures Inc.
Cost		332	[2],[9],[12]	332	[5],[6],[11]
Fair Value		371	[9],[12]	290	[6],[11]
Business Products and Services | Warrant Investments | Phantom Auto Inc.
Cost		374	[2],[9],[12]	374	[5],[6],[11]
Fair Value		0	[9],[12]	244	[6],[11]
Business Products and Services | Equity Investments
Cost		2,037	[2],[9]	1,150	[5],[6]
Fair Value		$ 1,504	[9]	$ 556	[6]
Percentage of net assets		0.54%	[4],[9]	0.19%	[6],[8]
Business Products and Services | Equity Investments | Quick Commerce Ltd.
Cost	[2],[9]	$ 637
Fair Value	[9]	672
Business Products and Services | Equity Investments | MXP Prime Platform GmbH
Cost		595	[2],[9]	$ 595	[5],[6]
Fair Value		97	[9]	95	[6]
Business/Productivity Software | Debt Investments
Outstanding Principal		30,702		30,263
Cost		31,099	[2]	30,110	[5]
Fair Value		$ 31,099		$ 30,139
Percentage of net assets		11.07%	[4]	10.37%	[8]
Business/Productivity Software | Debt Investments | Idelic Inc.
Outstanding Principal		$ 6,800		$ 6,800
Cost		6,980	[2]	6,855	[5]
Fair Value		6,980		6,855
Business/Productivity Software | Debt Investments | OnSiteIQ, Inc.
Outstanding Principal		2,750
Cost	[2]	2,812
Fair Value		2,812
Business/Productivity Software | Debt Investments | FireHydrant, Inc.
Outstanding Principal		8,000		6,800
Cost		8,093	[2]	6,741	[5]
Fair Value		8,093		6,741
Business/Productivity Software | Warrant Investments
Cost		549	[2],[9],[12]	457	[5],[6],[11]
Fair Value		$ 596	[9],[12]	$ 434	[6],[11]
Percentage of net assets		0.21%	[4],[9],[12]	0.15%	[6],[8],[11]
Business/Productivity Software | Warrant Investments | Idelic Inc.
Cost		$ 59	[2],[9],[12]	$ 59	[5],[6],[11]
Fair Value		12	[9],[12]	24	[6],[11]
Business/Productivity Software | Warrant Investments | Construction Finance Corporation
Cost		62	[2],[9],[12]	54	[5],[6],[11]
Fair Value		87	[9],[12]	54	[6],[11]
Business/Productivity Software | Warrant Investments | Manufactured Networks, Inc.
Cost		114	[2],[9],[12]	114	[5],[6],[11]
Fair Value		63	[9],[12]	63	[6],[11]
Business/Productivity Software | Equity Investments
Cost	[2],[9]	830
Fair Value	[9]	$ 830
Percentage of net assets	[4],[9]	0.30%
Communications and Networking | Debt Investments
Outstanding Principal		$ 4,900
Cost	[2]	4,859
Fair Value		$ 4,859
Percentage of net assets		1.73%
Communications and Networking | Warrant Investments
Cost	[2],[9],[12]	$ 74
Fair Value	[9],[12]	$ 74
Percentage of net assets		0.03%
Computer Hardware | Debt Investments
Outstanding Principal		$ 9,224		8,298
Cost		9,249	[2]	8,178	[5]
Fair Value		$ 9,112		$ 7,941
Percentage of net assets		3.24%	[4]	2.73%	[8]
Computer Hardware | Debt Investments | Canvas Construction Inc.
Outstanding Principal		$ 7,847		$ 6,888
Cost		7,844	[2]	6,771	[5]
Fair Value		7,707		6,534
Computer Hardware | Debt Investments | Quantum Circuits, Inc.
Outstanding Principal		1,377		1,410
Cost		1,405	[2]	1,407	[5]
Fair Value		1,405		1,407
Computer Hardware | Warrant Investments
Cost		250	[2],[9],[12]	250	[5],[6],[11]
Fair Value		$ 211	[9],[12]	$ 202	[6],[11]
Percentage of net assets		0.08%	[4],[9],[12]	0.07%	[6],[8],[11]
Computer Hardware | Equity Investments
Cost	[2],[9]	$ 50
Fair Value	[9]	$ 50
Percentage of net assets	[4],[9]	0.02%
Consumer Non-Durables
Percentage of net assets	[4]	3.04%
Consumer Non-Durables | Debt Investments
Outstanding Principal		$ 8,498		$ 3,995
Cost		8,494	[2]	4,086	[5]
Fair Value		8,530		$ 3,269
Percentage of net assets	[8]			1.13%
Consumer Non-Durables | Debt Investments | Don't Run Out, Inc.
Outstanding Principal		1,575		$ 1,927
Cost		1,704	[2]	1,997	[5]
Fair Value		1,704		1,997
Consumer Non-Durables | Debt Investments | Underground Enterprises, Inc.
Outstanding Principal				991
Cost	[5]			996
Fair Value				152
Consumer Non-Durables | Warrant Investments
Cost		354	[2],[9],[12]	198	[5],[6],[11]
Fair Value		$ 505	[9],[12]	$ 181	[6],[11]
Percentage of net assets		0.18%	[4],[9],[12]	0.06%	[6],[8],[11]
Consumer Non-Durables | Warrant Investments | Don't Run Out, Inc.
Cost		$ 30	[2],[9],[12]	$ 30	[5],[6],[11]
Fair Value		13	[9],[12]	13	[6],[11]
Consumer Products and Services | Debt Investments
Outstanding Principal		76,318		58,277
Cost		75,763	[2]	57,763	[5]
Fair Value		$ 72,601		$ 55,139
Percentage of net assets		25.84%	[4]	18.98%	[8]
Consumer Products and Services | Debt Investments | Baby Generation, Inc.
Outstanding Principal		$ 1,875		$ 1,875
Cost		1,982	[2]	1,924	[5]
Fair Value		1,982		1,932
Consumer Products and Services | Debt Investments | Bloom and Wild Midco 2 Limited
Outstanding Principal		4,583		5,674
Cost		4,638	[2]	5,680	[5]
Fair Value		5,491		6,355
Consumer Products and Services | Debt Investments | Dance GmbH
Outstanding Principal		1,589		1,589
Cost		1,559	[2]	1,559	[5]
Fair Value		559		854
Consumer Products and Services | Debt Investments | Ephemeral Solutions, Inc.
Outstanding Principal		1,087		995
Cost		1,082		993	[5]
Fair Value		505		333
Consumer Products and Services | Debt Investments | Ever/Body, Inc.
Outstanding Principal		13,250		7,352
Cost		13,560	[2]	7,455	[5]
Fair Value		13,560		7,373
Consumer Products and Services | Debt Investments | FitOn, Inc.
Outstanding Principal		5,500
Cost	[2]	5,396
Fair Value		5,396
Consumer Products and Services | Debt Investments | Flink SE
Outstanding Principal		2,668	[16],[17]	2,500
Cost		2,728	[2],[16],[17]	2,537	[5]
Fair Value		1,798	[16],[17]	2,011
Consumer Products and Services | Debt Investments | Foodology Inc.
Outstanding Principal		593		819
Cost		628	[2],[16],[17]	833	[5]
Fair Value		628		833
Consumer Products and Services | Debt Investments | Good Eggs, Inc.
Outstanding Principal				6,532
Cost	[5]			6,757
Fair Value				6,609
Consumer Products and Services | Debt Investments | Hydrow, Inc.
Outstanding Principal		15,000		15,000
Cost		16,273	[2]	15,845	[5]
Fair Value		16,087		15,327
Consumer Products and Services | Debt Investments | JOKR S.à r.l.
Outstanding Principal		6,902		7,069
Cost		7,130	[2]	7,138	[5]
Fair Value		7,082		7,021
Consumer Products and Services | Debt Investments | MA Micro Limited
Outstanding Principal		3,887		3,887
Cost		2,136	[2]	2,136	[5]
Fair Value		1,582		2,136
Consumer Products and Services | Debt Investments | Nakdcom One World AB
Outstanding Principal		991		874
Cost		924	[2],[16],[17]	763	[5]
Fair Value		929		736
Consumer Products and Services | Debt Investments | Planet A Foods GmbH
Outstanding Principal		904		967
Cost		921	[2]	955	[5]
Fair Value		921		955
Consumer Products and Services | Debt Investments | Placemakr, Inc.
Outstanding Principal		5,000
Cost	[2]	4,882
Fair Value		4,882
Consumer Products and Services | Debt Investments | Roadsurfer GmbH
Outstanding Principal		7,522
Cost	[2]	6,898
Fair Value		7,163
Consumer Products and Services | Warrant Investments
Cost		2,639	[2],[9],[12]	1,831	[5],[6],[11]
Fair Value		$ 2,148	[9],[12]	$ 1,158	[6],[11]
Percentage of net assets		0.76%	[4],[9],[12]	0.40%	[6],[8],[11]
Consumer Products and Services | Warrant Investments | Dance GmbH
Cost		$ 66	[2],[9],[12]	$ 58	[5],[6],[11]
Fair Value		0	[9],[12]	19	[6],[11]
Consumer Products and Services | Warrant Investments | Ephemeral Solutions, Inc.
Cost	[2],[9],[12]	13
Fair Value	[9],[12]	1
Consumer Products and Services | Warrant Investments | FitOn, Inc.
Cost	[2],[9],[12]	81
Fair Value	[9],[12]	81
Consumer Products and Services | Warrant Investments | Flink SE
Cost	[2],[9],[12]	23
Fair Value	[9],[12]	0
Consumer Products and Services | Warrant Investments | Hydrow, Inc.
Cost		130	[2],[9],[12]	130	[5],[6],[11]
Fair Value		0	[9],[12]	0	[6],[11]
Consumer Products and Services | Warrant Investments | JOKR S.à r.l.
Cost	[2],[9],[12]	634
Fair Value	[9],[12]	336
Consumer Products and Services | Warrant Investments | Nakdcom One World AB
Cost		125	[2],[9],[12]	125	[5],[6],[11]
Fair Value		112	[9],[12]	110	[6],[11]
Consumer Products and Services | Warrant Investments | Planet A Foods GmbH
Cost	[2],[9],[12]	30
Fair Value	[9],[12]	30
Consumer Products and Services | Warrant Investments | Well Dot, Inc.
Cost		64	[2],[9],[12]	64	[5],[6],[11]
Fair Value		76	[9],[12]	76	[6],[11]
Consumer Products and Services | Equity Investments
Cost		6,471	[2],[9]	1,793	[5],[6]
Fair Value		$ 5,891	[9]	$ 1,313	[6]
Percentage of net assets		2.10%	[4],[9]	0.45%	[6],[8]
Consumer Products and Services | Equity Investments | Hydrow, Inc.
Cost		$ 331	[2],[9]	$ 331	[5],[6]
Fair Value		12	[9]	12	[6]
Consumer Products and Services | Equity Investments | JOKR S.à r.l.
Cost		450	[2],[9]	450	[5],[6]
Fair Value		322	[9]	423	[6]
Consumer Products and Services | Equity Investments | Divvy Homes Inc.
Cost		100	[2],[9]	100	[5],[6]
Fair Value		100	[9]	100	[6]
Cultivation | Debt Investments
Outstanding Principal		4,277		4,251
Cost		1,368	[2]	1,345	[5]
Fair Value		$ 0		$ 1,317
Percentage of net assets		0.00%	[4]	0.45%	[8]
Cultivation | Equity Investments
Cost		$ 0	[2],[9]	$ 0	[5],[6]
Fair Value		$ 0	[9]	$ 0	[6]
Percentage of net assets		0.00%	[4],[9]	0.00%
E-Commerce - Clothing and Accessories | Debt Investments
Outstanding Principal		$ 27,528		$ 34,624
Cost		28,129	[2]	35,268	[5]
Fair Value		$ 28,114		$ 34,693
Percentage of net assets		10.00%	[4]	11.94%	[8]
E-Commerce - Clothing and Accessories | Debt Investments | TFG Holding, Inc.
Outstanding Principal				$ 8,374
Cost	[5]			8,720
Fair Value				8,145
E-Commerce - Clothing and Accessories | Debt Investments | Trendly, Inc.
Outstanding Principal		$ 7,500		7,500
Cost		8,048	[2]	7,842	[5]
Fair Value		8,033		7,842
E-Commerce - Clothing and Accessories | Warrant Investments
Cost		826	[2],[9],[12]	1,101	[5],[6],[11]
Fair Value		$ 579	[9],[12]	$ 756	[6],[11]
Percentage of net assets		0.21%	[4],[9],[12]	0.26%	[6],[8],[11]
E-Commerce - Clothing and Accessories | Warrant Investments | TFG Holding, Inc.
Cost	[5],[6],[11]			$ 275
Fair Value	[6],[11]			0
E-Commerce - Clothing and Accessories | Warrant Investments | FabFitFun, Inc.
Cost		$ 411	[2],[9],[12]	411	[5],[6],[11]
Fair Value		237	[9],[12]	308	[6],[11]
E-Commerce - Personal Goods | Merama Inc.
Cost		106	[2],[9]	106	[5],[6]
Fair Value		$ 196	[9]	197	[6]
E-Commerce - Personal Goods | Debt Investments
Outstanding Principal				27,515
Cost	[5]			27,876
Fair Value				$ 26,948
Percentage of net assets		6.72%	[4]	9.28%	[8]
E-Commerce - Personal Goods | Debt Investments | Forum Brands, LLC
Outstanding Principal		$ 20,171		$ 20,024
Cost		20,634	[2]	20,186	[5]
Fair Value		18,882		19,343
E-Commerce - Personal Goods | Debt Investments | Merama Inc.
Outstanding Principal				7,491
Cost	[5]			7,690
Fair Value				7,605
E-Commerce - Personal Goods | Warrant Investments
Cost		965	[2],[9],[12]	968	[5],[6],[11]
Fair Value		$ 657	[9],[12]	$ 1,001	[6],[11]
Percentage of net assets		0.23%	[4],[9],[12]	0.34%	[6],[8],[11]
E-Commerce - Personal Goods | Warrant Investments | Forum Brands, LLC
Cost		$ 376	[2],[9],[12]	$ 379	[5],[6],[11]
Fair Value		94	[9],[12]	438	[6],[11]
E-Commerce - Personal Goods | Equity Investments
Cost		196	[2],[9]	196	[5],[6]
Fair Value		$ 221	[9]	$ 228	[6]
Percentage of net assets		0.08%	[4],[9]	0.08%	[6],[8]
Educational Software | Debt Investments
Outstanding Principal		$ 3,160
Cost	[2]	3,131
Fair Value		$ 3,131
Percentage of net assets	[4]	1.11%
Educational Software | Warrant Investments
Cost	[2],[9],[12]	$ 14
Fair Value	[9],[12]	$ 14
Percentage of net assets	[4],[9],[12]	0.00%
Energy | Debt Investments
Outstanding Principal		$ 6,319		$ 12,610
Cost		6,326	[2]	12,861	[5]
Fair Value		$ 6,326		$ 12,649
Percentage of net assets		2.25%	[4]	4.35%	[8]
Energy | Warrant Investments
Cost		$ 231	[2],[9],[12]	$ 231	[5],[6],[11]
Fair Value		$ 1,143	[9],[12]	$ 1,220	[6],[11]
Percentage of net assets		0.41%	[4],[9],[12]	42.00%	[6],[8],[11]
Energy | Warrant Investments | Arcadia Power, Inc.
Cost		$ 194	[2],[9],[12]	$ 194	[5],[6],[11]
Fair Value		108	[9],[12]	185	[6],[11]
Energy | Equity Investments
Cost		867	[2],[9]	867	[5],[6]
Fair Value		$ 1,046	[9]	$ 1,115	[6]
Percentage of net assets		0.37%	[4],[9]	0.38%	[6],[8]
Entertainment Software | Debt Investments
Outstanding Principal		$ 3,795		$ 3,976
Cost		3,821	[2]	4,007	[5]
Fair Value		$ 3,815		$ 3,982
Percentage of net assets		1.36%	[4]	1.37%	[8]
Entertainment Software | Debt Investments | Encore Music Technologies, Inc.
Outstanding Principal		$ 1,125		$ 1,125
Cost		1,127	[2]	1,127	[5]
Fair Value		1,121		1,110
Entertainment Software | Warrant Investments
Cost		110	[2],[9],[12]	76	[5],[6],[11]
Fair Value		$ 93	[9],[12]	$ 62	[6],[11]
Percentage of net assets		0.03%	[4],[9],[12]	2.00%	[6],[8],[11]
Entertainment Software | Warrant Investments | Encore Music Technologies, Inc.
Cost		$ 17	[2],[9],[12]	$ 16	[5],[6],[11]
Fair Value		1	[9],[12]	0	[6],[11]
Entertainment Software | Warrant Investments | FRVR Limited
Cost	[2],[9],[12]	93
Fair Value	[9],[12]	92
Environmental Services | Debt Investments
Outstanding Principal		1,430
Cost	[2]	1,417
Fair Value		$ 1,417
Percentage of net assets	[4]	0.50%
Environmental Services | Warrant Investments
Cost	[2],[9],[12]	$ 63
Fair Value	[9],[12]	$ 63
Percentage of net assets	[4],[9],[12]	0.02%
Financial Software | Debt Investments
Outstanding Principal		$ 9,836		5,780
Cost		9,875	[2]	5,771	[5]
Fair Value		$ 9,875		$ 5,771
Percentage of net assets		3.51%	[4]	1.99%	[8]
Financial Software | Debt Investments | Ocrolus Inc.
Outstanding Principal				$ 780
Cost	[5]			811
Fair Value				811
Financial Software | Warrant Investments
Cost		$ 173	[2],[9],[12]	102	[5],[6],[11]
Fair Value		$ 117	[9],[12]	$ 75	[6],[11]
Percentage of net assets		0.04%	[4],[9],[12]	3.00%	[6],[8],[11]
Financial Software | Warrant Investments | Ocrolus Inc.
Cost	[2],[9],[12]	$ 22
Fair Value	[9],[12]	14
Food Products | Debt Investments
Outstanding Principal		2,468		$ 2,365
Cost		2,524	[2]	2,448	[5]
Fair Value		$ 2,573		$ 2,399
Percentage of net assets		0.92%	[4]	0.83%	[8]
Food Products | Warrant Investments
Cost		$ 172	[2],[9],[12]	$ 77	[5],[6],[11]
Fair Value		$ 99	[9],[12]	$ 39	[6],[11]
Percentage of net assets		0.04%	[4],[9],[12]	0.01%	[6],[8],[11]
Food Products | Equity Investments
Cost		$ 50	[2],[9]	$ 50	[5],[6]
Fair Value		$ 50	[9]	$ 50	[6]
Percentage of net assets		0.02%	[4],[9]	0.02%
Healthcare Services | Debt Investments
Outstanding Principal		$ 15,878		$ 8,336
Cost		15,447	[2]	8,138	[5]
Fair Value		$ 15,528		$ 8,138
Percentage of net assets		5.53%	[4]	2.80%	[8]
Healthcare Services | Debt Investments | Petfolk Inc.
Outstanding Principal		$ 1,324		$ 1,336
Cost		1,311	[2]	1,313	[5]
Fair Value		1,311		1,313
Healthcare Services | Debt Investments | OpenLoop Health, Inc.
Outstanding Principal		14,554		7,000
Cost		14,136	[2]	6,825	[5]
Fair Value		14,217		6,825
Healthcare Services | Warrant Investments
Cost		610	[2],[9],[12]	258	[5],[6],[11]
Fair Value		$ 882	[9],[12]	$ 467	[6],[11]
Percentage of net assets		0.31%	[4],[9],[12]	16.00%	[6],[8],[11]
Healthcare Services | Warrant Investments | OpenLoop Health, Inc.
Cost		$ 480	[2],[9],[12]	$ 165	[5],[6],[11]
Fair Value		557	[9],[12]	179	[6],[11]
Healthcare Services | Equity Investments
Cost		720	[2],[9]	720	[5],[6]
Fair Value		$ 473	[9]	$ 473	[6]
Percentage of net assets		0.17%	[4],[9]	0.16%	[6],[8]
Healthcare Technology Systems | Debt Investments
Outstanding Principal		$ 14,489		$ 19,262
Cost		14,644	[2]	19,612	[5]
Fair Value		$ 14,332		$ 19,530
Percentage of net assets		5.10%	[4]	6.72%	[8]
Healthcare Technology Systems | Debt Investments | Thirty Madison, Inc.
Outstanding Principal		$ 10,030		$ 9,262
Cost		10,185	[2]	9,344	[5]
Fair Value		9,873		9,344
Healthcare Technology Systems | Warrant Investments
Cost		827	[2],[9],[12]	827	[5],[6],[11]
Fair Value		$ 465	[9],[12]	$ 618	[6],[11]
Percentage of net assets		0.17%	[4],[9],[12]	0.21%	[6],[8],[11]
Healthcare Technology Systems | Equity Investments
Cost		$ 15	[2],[9]	$ 15	[5],[6]
Fair Value		$ 3	[9]	$ 3	[6]
Percentage of net assets		0.00%	[4],[9]	0.00%	[6],[8]
Human Capital Services | Debt Investments
Outstanding Principal		$ 3,281		$ 3,281
Cost		3,316	[2]	3,282	[5]
Fair Value		$ 3,316		$ 3,282
Percentage of net assets		1.18%	[4]	1.13%	[8]
Human Capital Services | Warrant Investments
Cost		$ 307	[2],[9],[12]	$ 307	[5],[6],[11]
Fair Value		$ 1,098	[9],[12]	$ 1,098	[6],[11]
Percentage of net assets		0.39%	[4],[9],[12]	0.38%	[6],[8],[11]
Human Capital Services | Warrant Investments | Karat Financial Technologies Incorporated
Cost		$ 109	[2],[9],[12]	$ 109	[5],[6],[11]
Fair Value		731	[9],[12]	731	[6],[11]
Information Services (B2C) | Debt Investments
Outstanding Principal		9,000		9,000
Cost		9,112	[2]	8,983	[5]
Fair Value		$ 9,112		$ 8,983
Percentage of net assets		3.24%	[4]	3.09%	[8]
Information Services (B2C) | Warrant Investments
Cost		$ 192	[2],[9],[12]	$ 192	[5],[6],[11]
Fair Value		$ 157	[9],[12]	$ 173	[6],[11]
Percentage of net assets		0.06%	[4],[9],[12]	0.06%	[6],[8],[11]
Information Services (B2C) | Equity Investments
Cost		$ 150	[2],[9]	$ 150	[5],[6]
Fair Value		$ 150	[9]	$ 150	[6]
Percentage of net assets		0.05%	[4],[9]	0.05%	[6],[8]
Infrastructure | Debt Investments
Outstanding Principal		$ 7,500		$ 7,500
Cost		7,919	[2]	7,810	[5]
Fair Value		$ 8,061		$ 7,886
Percentage of net assets		2.87%	[4]	2.71%	[8]
Infrastructure | Warrant Investments
Cost		$ 323	[2],[9],[12]	$ 322	[5],[6],[11]
Fair Value		$ 552	[9],[12]	$ 365	[6],[11]
Percentage of net assets		0.20%	[4],[9],[12]	0.13%	[6],[8],[11]
Infrastructure | Equity Investments
Cost		$ 161	[2],[9]	$ 161	[5],[6]
Fair Value		$ 236	[9]	$ 236	[6]
Percentage of net assets		0.08%	[4],[9]	0.08%	[6],[8]
Life and Health Insurance | Debt Investments
Percentage of net assets	[8]			3.21%
Life and Health Insurance | Debt Investments
Outstanding Principal		$ 1,000		$ 9,000
Cost		1,015	[2]	9,329	[5]
Fair Value		$ 1,015		9,329
Percentage of net assets	[4]	0.36%
Life and Health Insurance | Debt Investments | Angle Health, Inc.
Outstanding Principal				1,000
Cost	[5]			986
Fair Value				986
Life and Health Insurance | Warrant Investments
Cost		$ 120	[2],[9],[12]	120	[5],[6],[11]
Fair Value		$ 176	[9],[12]	$ 142	[6],[11]
Percentage of net assets		0.06%	[4],[9],[12]	0.05%	[6],[8],[11]
Life and Health Insurance | Equity Investments
Cost		$ 80	[2],[9]	$ 80	[5],[6]
Fair Value		$ 87	[9]	$ 87	[6]
Percentage of net assets		0.03%	[4],[9]	0.03%	[6],[8]
Medical Software and Information Services | Debt Investments
Percentage of net assets	[8]			0.84%
Medical Software and Information Services | Debt Investments
Outstanding Principal		$ 2,493		$ 2,373
Cost		2,652	[2]	2,482	[5]
Fair Value		$ 2,576		2,432
Percentage of net assets	[4]	0.92%
Medical Software and Information Services | Warrant Investments
Cost		$ 92	[2],[9],[12]	92	[5],[6],[11]
Fair Value		$ 2	[9],[12]	$ 2	[6],[11]
Percentage of net assets		0.00%	[4],[9],[12]	0.00%	[6],[8],[11]
Multimedia and Design Software | Debt Investments
Outstanding Principal		$ 5,316		$ 6,316
Cost		5,399	[2]	6,438	[5]
Fair Value		$ 4,091		$ 6,416
Percentage of net assets		1.46%	[4]	2.21%	[8]
Multimedia and Design Software | Debt Investments | Spire Animation Studios, Inc.
Outstanding Principal		$ 1,316		$ 1,316
Cost		1,450	[2]	1,450	[5]
Fair Value		142		1,428
Multimedia and Design Software | Warrant Investments
Cost		280	[2],[9],[12]	262	[5],[6],[11]
Fair Value		$ 108	[9],[12]	$ 90	[6],[11]
Percentage of net assets		0.04%	[4],[9],[12]	0.03%	[6],[8],[11]
Multimedia and Design Software | Warrant Investments | Hover Inc.
Cost	[2],[9],[12]	$ 95
Fair Value	[9],[12]	108
Multimedia and Design Software | Warrant Investments | Spire Animation Studios, Inc.
Cost		185	[2],[9],[12]	$ 185	[5],[6],[11]
Fair Value		0	[9],[12]	0	[6],[11]
Multimedia and Design Software | Equity Investments
Cost		58	[2],[9]	58	[5],[6]
Fair Value		$ 66	[9]	$ 66	[6]
Percentage of net assets		0.02%	[4],[9]	0.02%	[6],[8]
Network Management Software | Debt Investments
Outstanding Principal		$ 5,000		$ 5,000
Cost		4,969	[2]	4,947	[5]
Fair Value		$ 4,969		$ 4,947
Percentage of net assets		1.77%	[4]	1.70%	[8]
Network Management Software | Warrant Investments
Cost		$ 236	[2],[9],[12]	$ 211	[5],[6],[11]
Fair Value		$ 227	[9],[12]	$ 186	[6],[11]
Percentage of net assets		0.08%	[4],[9],[12]	0.06%	[6],[8],[11]
Network Management Software | Warrant Investments | Skyflow Inc.
Cost	[2],[9],[12]	$ 56
Fair Value	[9],[12]	47
Network Management Software | Equity Investments
Cost	[2],[9]	512
Fair Value	[9]	$ 512
Percentage of net assets	[4],[9]	0.18%
Other Financial Services | Debt Investments
Outstanding Principal		$ 6,511		$ 7,238
Cost		6,477	[2]	7,269	[5]
Fair Value		$ 6,476		$ 7,255
Percentage of net assets		2.30%	[4]	2.50%	[8]
Other Financial Services | Debt Investments | Jerry Services, Inc.
Outstanding Principal		$ 1,000		$ 1,000
Cost		1,035	[2]	1,013	[5]
Fair Value		1,034		999
Other Financial Services | Debt Investments | Relay Commerce, Inc.
Outstanding Principal		5,511		6,238
Cost		5,442	[2]	6,256	[5]
Fair Value		5,442		6,256
Other Financial Services | Warrant Investments
Cost		639	[2],[9],[12]	613	[5],[6],[11]
Fair Value		$ 628	[9],[12]	$ 513	[6],[11]
Percentage of net assets		0.22%	[4],[9],[12]	0.18%	[6],[8],[11]
Other Financial Services | Warrant Investments | Relay Commerce, Inc.
Cost		$ 97	[2],[9],[12]	$ 71	[5],[6],[11]
Fair Value		149	[9],[12]	37	[6],[11]
Other Financial Services | Equity Investments
Cost		698	[2],[9]	698	[5],[6]
Fair Value		$ 833	[9]	$ 823	[6]
Percentage of net assets		0.30%	[4],[9]	0.28%	[6],[8]
Real Estate Services | Debt Investments
Outstanding Principal		$ 23,026		$ 35,970
Cost		24,154	[2]	36,695	[5]
Fair Value		$ 23,530		$ 35,807
Percentage of net assets		8.37%	[4]	12.32%	[8]
Real Estate Services | Debt Investments | Common Living Inc.
Outstanding Principal		$ 7,242		$ 7,242
Cost		7,635	[2]	7,607	[5]
Fair Value		7,215		7,046
Real Estate Services | Debt Investments | Homelight, Inc.
Outstanding Principal		750		750
Cost		743	[2]	740	[5]
Fair Value		739		734
Real Estate Services | Debt Investments | Homeward, Inc.
Outstanding Principal		5,056		8,000
Cost		5,366	[2]	8,170	[5]
Fair Value		5,166		7,987
Real Estate Services | Debt Investments | Mynd Management, Inc.
Outstanding Principal				10,000
Cost	[5]			10,016
Fair Value				10,016
Real Estate Services | Debt Investments | True Footage, Inc.
Outstanding Principal		9,978		9,978
Cost		10,410	[2]	10,162	[5]
Fair Value		10,410		10,024
Real Estate Services | Warrant Investments
Cost		954	[2],[9],[12]	954	[5],[6],[11]
Fair Value		$ 2,296	[9],[12]	$ 2,192	[6],[11]
Percentage of net assets		0.82%	[4],[9],[12]	75.00%	[6],[8],[11]
Real Estate Services | Warrant Investments | Mynd Management, Inc.
Cost		$ 95	[2],[9],[12]	$ 95	[5],[6],[11]
Fair Value		238	[9],[12]	125	[6],[11]
Real Estate Services | Equity Investments
Cost		592	[2],[9]	592	[5],[6]
Fair Value		$ 420	[9]	$ 417	[6]
Percentage of net assets		0.15%	[4],[9]	0.14%	[6],[8]
Social/Platform Software | Debt Investments | Sylva, Inc.
Outstanding Principal		$ 7,298		$ 7,132
Cost		7,555	[2]	7,313	[5]
Fair Value		$ 6,800		$ 7,257
Percentage of net assets		2.42%	[4]	2.50%	[8]
Social/Platform Software | Warrant Investments
Cost		$ 103	[2],[9],[12]	$ 103	[5],[6],[11]
Fair Value		$ 33	[9],[12]	$ 251	[6],[11]
Percentage of net assets		0.01%	[4],[9],[12]	0.09%	[6],[8],[11]
Social/Platform Software | Warrant Investments | Sylva, Inc.
Cost		$ 60	[2],[9],[12]	$ 60	[5],[6],[11]
Fair Value		8	[9],[12]	226	[6],[11]
Social/Platform Software | Warrant Investments | Appex Group, Inc.
Cost	[5],[6],[11]			0
Fair Value	[6],[11]			0
Business to Business Marketplace | Warrant Investments
Cost		156	[2],[9],[12]	156	[5],[6],[11]
Fair Value		$ 140	[9],[12]	$ 140	[6],[11]
Percentage of net assets		0.05%	[4],[9],[12]	0.05%	[6],[8],[11]
Business to Business Marketplace | Equity Investments
Cost		$ 950	[2],[9]	$ 950	[5],[6]
Fair Value		$ 740	[9]	$ 740	[6]
Percentage of net assets		0.26%	[4],[9]	0.25%	[6],[8]
Commercial Services | Warrant Investments
Cost		$ 6	[2],[9],[12]	$ 6	[5],[6],[11]
Fair Value		$ 6	[9],[12]	$ 6	[6],[11]
Percentage of net assets		0.00%	[4],[9],[12]	0.00%	[6],[8],[11]
Communication Software | Warrant Investments
Cost		$ 54	[2],[9],[12]	$ 54	[5],[6],[11]
Fair Value		$ 54	[9],[12]	$ 54	[6],[11]
Percentage of net assets		0.02%	[4],[9],[12]	0.02%	[6],[8],[11]
Consumer Finance | Debt Investments
Outstanding Principal				$ 0
Cost	[5]			0
Fair Value				$ 0
Percentage of net assets	[8]			0.00%
Consumer Finance | Warrant Investments
Cost		$ 339	[2],[9],[12]	$ 576	[5],[6],[11]
Fair Value		$ 610	[9],[12]	$ 1,605	[6],[11]
Percentage of net assets		0.22%	[4],[9],[12]	0.55%	[6],[8],[11]
Consumer Finance | Warrant Investments | Activehours, Inc.
Cost		$ 241	[2],[9],[12]	$ 225	[5],[6],[11]
Fair Value		471	[9],[12]	455	[6],[11]
Consumer Finance | Warrant Investments | The Aligned Company
Cost	[5],[6],[11]			58
Fair Value	[6],[11]			580
Consumer Finance | Equity Investments
Cost		100	[2],[9]	100	[5],[6]
Fair Value		$ 151	[9]	$ 151	[6]
Percentage of net assets		0.05%	[4],[9]	0.05%	[6],[8]
Database Software | Warrant Investments
Cost		$ 116	[2],[9],[12]	$ 116	[5],[6],[11]
Fair Value		$ 254	[9],[12]	$ 254	[6],[11]
Percentage of net assets		0.09%	[4],[9],[12]	0.09%	[6],[8],[11]
Database Software | Equity Investments
Cost	[2],[9]	$ 250
Fair Value	[9]	$ 250
Percentage of net assets	[4],[9]	0.09%
Elder and Disabled Care | Warrant Investments
Cost		$ 50	[2],[9],[12]	$ 50	[5],[6],[11]
Fair Value		$ 192	[9],[12]	$ 192	[6],[11]
Percentage of net assets		0.07%	[4],[9],[12]	0.07%	[6],[8],[11]
Elder and Disabled Care | Equity Investments
Cost		$ 264	[2],[9]	$ 264	[5],[6]
Fair Value		$ 294	[9]	$ 294	[6]
Percentage of net assets		0.10%	[4],[9]	0.10%	[6],[8]
Household Products | Warrant Investments
Cost		$ 72	[2],[9],[12]	$ 72	[5],[6],[11]
Fair Value		$ 0	[9],[12]	$ 0	[6],[11]
Percentage of net assets		0.00%	[4],[9],[12]	0.00%	[6],[8],[11]
Information Technology | Warrant Investments
Cost	[2],[9],[12]	$ 250
Fair Value	[9],[12]	$ 250
Percentage of net assets	[4],[9],[12]	0.09%
Information Technology | Equity Investments
Cost	[2],[9]	$ 500
Fair Value	[9]	$ 500
Percentage of net assets	[4],[9]	0.18%
General Media and Content | Warrant Investments
Cost		$ 5	[2],[9],[12]	$ 5	[5],[6],[11]
Fair Value		$ 5	[9],[12]	$ 5	[6],[11]
Percentage of net assets		0.00%	[4],[9],[12]	0.00%	[6],[8],[11]
General Media and Content | Equity Investments
Cost		$ 100	[2],[9]	$ 100	[5],[6]
Fair Value		$ 100	[9]	$ 100	[6]
Percentage of net assets		0.04%	[4],[9]	0.03%	[6],[8]
Logistics | Warrant Investments
Cost		$ 51	[2],[9],[12]	$ 51	[5],[6],[11]
Fair Value		$ 51	[9],[12]	$ 51	[6],[11]
Percentage of net assets		0.02%	[4],[9],[12]	0.02%	[6],[8],[11]
Software Development Applications | Warrant Investments
Cost		$ 233	[2],[9],[12]	$ 65	[5],[6],[11]
Fair Value		$ 432	[9],[12]	$ 223	[6],[11]
Percentage of net assets		0.15%	[4],[9],[12]	0.08%	[6],[8],[11]
Software Development Applications | Warrant Investments | Appex Group, Inc.
Cost	[2],[9],[12]	$ 168
Fair Value	[9],[12]	209
Software Development Applications | Equity Investments
Cost		250	[2],[9]	$ 250	[5],[6]
Fair Value		$ 303	[9]	$ 303	[6]
Percentage of net assets		0.11%	[4],[9]	0.10%	[6],[8]
Financial Services | Equity Investments
Cost		$ 150	[2],[9]	$ 150	[5],[6]
Fair Value		$ 150	[9]	$ 150	[6]
Percentage of net assets		0.05%	[4],[9]	0.05%	[6],[8]

[1] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[2] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $10.3 million, $21.1 million and $10.8 million, respectively, for the September 30, 2024 investment portfolio. The tax cost of investments is $395.9 million.

[3] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[4] Value as a percentage of net assets.

[5] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $9.3 million, $16.7 million and $7.4 million, respectively, for the December 31, 2023 investment portfolio. The tax cost of investments is $407.6 million.

[6] Non-income producing investments.

[7] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[8] Value as a percentage of net assets.

[9] Non-income producing investments.

[10] As of December 31, 2023, this investment was not pledged as collateral as part of the Company’s revolving credit facility.

[11] Warrants are associated with funded debt instruments as well as certain commitments to provide future funding against certain unfunded obligations.

[12] Warrants are associated with funded debt instruments as well as certain commitments to provide future funding against certain unfunded obligations.

[13] Entity is not domiciled in the United States and does not have its principal place of business in the United States.

[14] Investment is a non-qualifying asset under Section 55(a) of the 1940 Act. As of December 31, 2023, non-qualifying assets represented 11.7% of the Company’s total assets, at fair value.

[15] As of September 30, 2024, this investment was not pledged as collateral as part of the Company’s revolving credit facility.

[16] Entity is not domiciled in the United States and does not have its principal place of business in the United States.

[17] Investment is a non-qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). As of September 30, 2024, non-qualifying assets represented 13.5% of the Company’s total assets, at fair value.

[18] Number of shares and/or fair value will be determined based on the occurrence of future events.

[19] Debt is on non-accrual status as of September 30, 2024 and is therefore considered non-income producing. Non-accrual investments as of September 30, 2024 had a total cost and fair value of $22.7 million and $11.9 million, respectively.

[20] Debt is on non-accrual status as of December 31, 2023 and is therefore considered non-income producing. Non-accrual investments as of December 31, 2023 had a total cost and fair value of $19.9 million and $15.1 million, respectively.

[21] Number of shares and/or fair value will be determined based on the occurrence of future events.

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CONSOLIDATED SCHEDULE OF INVESTMENTS - Narrative (Parentheticals) - USD ($) $ in Thousands						9 Months Ended
		Sep. 30, 2024		Dec. 31, 2023		Sep. 30, 2024
Percentage of net assets	[1],[2]			137.74%
Total portfolio company investments	[3]	$ 380,841	[4],[5]	$ 400,195	[1],[6]	$ 380,841	[4],[5]
Gross unrealized gains for tax purposes		10,300		9,300		10,300
Gross unrealized losses for tax purposes		21,100		16,700		21,100
Net unrealized losses for tax purposes		10,800		7,400		10,800
Tax cost of investments		395,900		407,600		395,900
Cost	[3]	$ 393,790	[4],[5],[7]	$ 406,433	[1],[6],[8]	393,790	[4],[5],[7]
Unrealized Gain/(Loss)						$ (393)
Non-qualifying assets percentage		13.50%		11.70%		13.50%
Total Portfolio Companies
Percentage of net assets		135.52%	[5],[9]	137.70%		135.52%	[5],[9]
Total portfolio company investments		$ 380,800		$ 400,200		$ 380,800
Debt Investments
Cost of non-accrual investments		22,700		19,900		22,700
Fair value of non-accrual investments		$ 11,900		$ 15,100		$ 11,900
Debt investments with floating interest rates | Minimum
Interest rate floor		3.25%		3.25%		3.25%
Debt investments with floating interest rates | Investment Owned, Balance, Principal Amount | Interest Rate Type Risk
Outstanding Principal		$ 289,000		$ 304,500		$ 289,000
Concentration risk percentage		80.20%		79.70%

[1] Non-income producing investments.

[2] Value as a percentage of net assets.

[3] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[4] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[5] Value as a percentage of net assets.

[6] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[7] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $10.3 million, $21.1 million and $10.8 million, respectively, for the September 30, 2024 investment portfolio. The tax cost of investments is $395.9 million.

[8] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $9.3 million, $16.7 million and $7.4 million, respectively, for the December 31, 2023 investment portfolio. The tax cost of investments is $407.6 million.

[9] Non-income producing investments.

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CONSOLIDATED SCHEDULE OF INVESTMENTS - Derivatives (Parenthetical) € in Thousands, £ in Thousands, $ in Thousands		6 Months Ended	9 Months Ended
		Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 GBP (£)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Schedule of Investments [Line Items]
Percentage of net assets	[1],[2]						137.74%	137.74%	137.74%
US $ Value at Settlement Date					$ 10,976			$ 10,531
Unrealized Gain/(Loss)		$ (430)	$ (393)
Foreign currency forward contracts
Schedule of Investments [Line Items]
Percentage of net assets				(0.14%)	(0.14%)	(0.14%)	(0.15%)	(0.15%)	(0.15%)
Open Forward Foreign Currency Contract, Identifier [Axis]: British Pound Sterling Foreign Currency Contract, Maturing February 1, 2024
Schedule of Investments [Line Items]
Amount | £							£ 6
US $ Value at Settlement Date								$ 7,300
Unrealized Gain/(Loss)		(345)
Open Forward Foreign Currency Contract, Identifier [Axis]: British Pound Sterling Foreign Currency Contract, Maturing October 28, 2024
Schedule of Investments [Line Items]
Amount | £				£ 6
US $ Value at Settlement Date					$ 7,718
Unrealized Gain/(Loss)			(307)
Open Forward Foreign Currency Contract, Identifier [Axis]: Euro Foreign Currency Contract, Maturing October 28, 2024
Schedule of Investments [Line Items]
Amount | €						€ 3
US $ Value at Settlement Date					$ 3,258
Unrealized Gain/(Loss)			$ (86)
Open Forward Foreign Currency Contract, Identifier [Axis]: Euro Foreign Currency Contract, Maturing February 1, 2024
Schedule of Investments [Line Items]
Amount | €									€ 2
US $ Value at Settlement Date								2,127
Unrealized Gain/(Loss)		(82)
Open Forward Foreign Currency Contract, Identifier [Axis]: Euro Foreign Currency Contract, Maturing March 28, 2024
Schedule of Investments [Line Items]
Amount | €									€ 1
US $ Value at Settlement Date								$ 1,104
Unrealized Gain/(Loss)		$ (3)

[1] Non-income producing investments.

[2] Value as a percentage of net assets.

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Organization

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

Organization

TriplePoint Global Venture Credit, LLC was formed on October 2, 2019 as a Maryland limited liability company. On May 27, 2020, TriplePoint Global Venture Credit, LLC changed its name to TriplePoint Private Venture Credit Inc. (the “Company”) in connection with its conversion from a Maryland limited liability company to a Maryland corporation and the commencement of its investment operations. The Company is structured as an externally-managed, closed-end investment company that has elected to be treated as a business development company (“BDC”) under the 1940 Act. The Company has elected to be treated, and intends to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).

The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income from secured loans, and secondarily through capital gains from equity “kickers” in the form of warrants and direct equity investments to venture capital-backed companies. The Company is externally managed by TriplePoint Advisers LLC (the “Adviser”), which is registered as an investment adviser under the Investment Advisers Act of 1940, as amended, and is a wholly owned subsidiary of TriplePoint Capital LLC (“TPC”). The Adviser is responsible for sourcing, reviewing and structuring investment opportunities, underwriting and performing due diligence on investments and monitoring the investment portfolio on an ongoing basis. The Adviser was organized in August 2013 and, pursuant to an investment advisory agreement entered into between the Company and the Adviser (the “Advisory Agreement”), the Company pays the Adviser a base management fee and an incentive fee for its investment management services.  The Company has also entered into an administration agreement (the “Administration Agreement”) with TriplePoint Administrator LLC (the “Administrator”), a wholly owned subsidiary of the Adviser, pursuant to which the Administrator provides or arranges for the provision of all administrative services necessary for the Company to operate.

The Company has two wholly owned subsidiaries: TPVC Funding Company LLC (the “Financing Subsidiary”), a bankruptcy remote special purpose entity established for utilizing the Company’s revolving credit facility whose creditors have a claim on its assets prior to those assets becoming available to the Financing Subsidiary’s equity holders, and TPVC Investment LLC, an entity established for holding certain of the Company’s investments in order to benefit without negatively impacting the Company’s RIC tax status. These subsidiaries are consolidated in the financial statements of the Company.

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Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying interim consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6, 10 and 12 of Regulation S-X. Accordingly, certain disclosures required by GAAP for the annual reporting of consolidated financial statements are omitted.

The consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All adjustments and reclassifications that are necessary for the fair representation of financial results as of and for the periods presented have been included and all intercompany account balances and transactions have been eliminated.

Certain items in the prior period’s consolidated financial statements have been conformed to the current period’s presentation. These presentation changes, if any, did not impact any prior amounts of reported total assets, total liabilities, net assets or results of operations.

These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 13, 2024, including the significant accounting policies described in “Note 2. Significant Accounting Policies” in the Company’s consolidated financial statements included therein.

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Related Party Agreements and Transactions

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

Related Party Agreements and Transactions

Related Party Agreements and Transactions

Investment Advisory Agreement

In accordance with the Advisory Agreement, subject to the overall supervision of the Board and in accordance with the 1940 Act, the Adviser manages the day-to-day operations and provides investment advisory services to the Company. Under the terms of the Advisory Agreement, the Adviser:

•determines the composition of the Company’s portfolio, the nature and timing of changes to the Company’s portfolio and the manner of implementing such changes;

•identifies, evaluates and negotiates the structure of investments;

•executes, closes, services and monitors investments;

•determines the securities and other assets purchased, retained or sold;

•performs due diligence on prospective investments; and

•provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds.

As consideration for the investment advisory and management services provided, and pursuant to the Advisory Agreement, the Company has agreed to pay the Adviser a fee consisting of two components - a base management fee and an incentive fee. The cost of both the base management fee and incentive fee is ultimately borne by the Company’s stockholders.

Base Management Fee

The base management fee is calculated at an annual rate of 1.75% of the Company’s average invested equity capital (as defined below) as of the end of the then-current quarter and the prior calendar quarter. For this purpose, “invested equity capital” means the amounts drawn on the Company’s capital commitments from investors.

Following the closing of the listing of shares of the Company’s common stock on a national securities exchange, including in connection with an initial public offering (“IPO”), the base management fee will be calculated at an annual rate of 1.75% of the Company’s average adjusted gross assets, including assets purchased with borrowed funds. The base management fee will be calculated based on the average value of the Company’s gross assets at the end of its two most recently completed calendar quarters.

Incentive Fee

The incentive fee, which provides the Adviser with a share of the income that it generates for the Company, consists of two components - investment income and capital gains - which are largely independent of each other, with the result that one component may be payable even if the other is not payable.

Under the investment income component, the Company will pay the Adviser each quarter 20.0% of the amount by which the Company’s pre-incentive fee net investment income for the quarter exceeds a hurdle rate of 2.0% (which is 8.0% annualized) of its net assets at the end of the immediately preceding calendar quarter, subject to a “catch-up” provision pursuant to which the Adviser receives all of such income in excess of the 2.0% level but less than 2.5%. The effect of the “catch-up” provision is that if pre-incentive fee net investment income exceeds 2.5% in any calendar quarter, the Adviser receives 20.0% of the Company’s pre-incentive fee net investment income as if the 2.0% hurdle rate did not apply.

Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital gains or losses. The investment income component of the incentive fee will be subject to a total return requirement, which will provide that no incentive fee in respect of the Company’s pre-incentive fee net investment income will be payable except to the extent that 20.0% of the cumulative net increase in net assets resulting from operations over the then current and 11 preceding quarters (the “Trailing Twelve Quarters”) exceeds the cumulative incentive fees accrued and/or paid for the 11 preceding quarters. In other words, any investment income incentive fee that is payable in a calendar quarter is limited to the lesser of (i) 20.0% of the amount by which the Company’s pre-incentive fee net investment income for such calendar quarter exceeds the 2.0% hurdle, subject to the “catch-up” provision and (ii) (x) 20.0% of the cumulative net increase in net assets resulting from operations for the Trailing Twelve Quarters minus (y) the cumulative incentive fees accrued and/or paid for the 11 preceding calendar quarters. For the foregoing purpose, the “cumulative net increase in net assets resulting from operations” is the sum of the Company’s pre-incentive fee net investment income, realized gains and losses and unrealized appreciation and depreciation for the Trailing Twelve Quarters. However, following the occurrence (if any) of an IPO, the Trailing Twelve Quarters will be “reset” so as to include, as of the end of any quarter, the calendar quarter then ending and the 11 preceding calendar quarters (or if shorter, the number of quarters that have occurred since the IPO, rather than the number of quarters that have occurred since May 27, 2020).

The capital gains component of the incentive fee will be determined and paid annually in arrears at the end of each calendar year or, in the event of an Advanced Liquidity Event (as defined below), the date on which the closing of such Advanced Liquidity Event occurs. At the end of each calendar year (or upon the effectuation of an Advanced Liquidity Event), the Company will pay the Adviser (A) 20.0% of the difference, if positive, of the sum of aggregate cumulative realized capital gains, if any, computed net of aggregate cumulative realized capital losses, if any, and aggregate cumulative unrealized capital depreciation, in each case from May 27, 2020, the initial effective date of the Advisory Agreement, through the end of such year (or the date on which an Advanced Liquidity Event occurs), less (B) the aggregate amount of any previously paid capital gains incentive fees from May 27, 2020 until the end of such calendar year (or the date on which an Advanced Liquidity Event occurs). For the foregoing purpose, “aggregate cumulative realized capital gains” does not include any unrealized capital appreciation. An Advanced Liquidity Event could include: (1) a listing of the Company’s shares of capital stock on a national securities exchange, including through an IPO, (2) a merger with another entity, including an affiliated company, subject to any limitations under the 1940 Act or (3) the sale of all or substantially all of the assets of the Company.

The Company will accrue, but not pay, a portion of the capital gains incentive fee with respect to net unrealized appreciation. Under GAAP, the Company is required to accrue a capital gains incentive fee that includes net realized capital gains and losses and net unrealized capital appreciation and depreciation on investments held at the end of each period. In calculating the accrual for the capital gains component of the incentive fee, the Company will consider the cumulative aggregate unrealized capital appreciation in the calculation, since an incentive fee based on capital gains would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee actually payable under the Advisory Agreement. This accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital appreciation or depreciation. If such amount is positive at the end of a period, then the Company will record a capital gains incentive fee equal to 20.0% of such amount, minus the aggregate amount of the actual capital gains incentive fee paid in all prior periods. If such amount is negative, then there is no accrual for such period and previous accruals for capital gains incentive fees may be reversed. There can be no assurance that such unrealized capital appreciation will be realized in the future. Additionally, if the Advisory Agreement is terminated as of a date that is not a calendar year end, including upon the effectuation of a merger of the Company with another entity (including an affiliated company, subject to any limitations under the 1940 Act) or the sale of all or substantially all of the Company’s assets, the termination date is treated as though it were a calendar year end for purposes of calculating and paying the capital gains incentive fee.

Base management and incentive fees are paid in the quarter following that in which they are earned. The base management fee and income incentive fee earned by the Adviser and capital gains incentive fee accrual are included in the Company’s consolidated financial statements and summarized in the table below:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Base Management and Incentive Fees (in thousands)	2024		2023		2024		2023
Base management fee	$	1,552	$	1,378	$	4,647	$	4,089
Income incentive fee	$	—	$	—	$	—	$	—
Capital gains incentive fee	$	—	$	—	$	—	$	—

Administration Agreement

The Administration Agreement provides that the Administrator is responsible for furnishing the Company with office facilities and equipment and providing the Company with clerical, bookkeeping, recordkeeping services and other administrative services at such facilities. Under the Administration Agreement, the Administrator performs, or oversees, or arranges for, the performance of the Company’s required administrative services, which includes being responsible for the financial and other records which the Company is required to maintain and preparing reports to the Company’s stockholders and reports and other materials filed with the SEC and any other regulatory authority. In addition, the Administrator assists the Company in determining and publishing net asset value (“NAV”), overseeing the preparation and filing of the Company’s tax returns and printing and disseminating reports and other materials to the Company’s stockholders, and generally oversees the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides significant managerial assistance on the Company’s behalf to those companies that have accepted the Company’s offer to provide such assistance.

In consideration of the provision of the services of the Administrator, the Company reimburses the Administrator for the costs and expenses incurred by the Administrator in performing its obligations and providing personnel and facilities under the Administration Agreement. Payments under the Administration Agreement are equal to the Company’s allocable portion (subject to the review of the Board) of the Administrator’s overhead resulting from its obligations under the Administration Agreement, including rent and the allocable portion of the cost of the chief compliance officer and chief financial officer and their respective staffs. In addition, if requested to provide significant managerial assistance to the Company’s portfolio companies, the Administrator is paid an additional amount based on the services provided, which shall not exceed the amount the Company receives from such companies for providing this assistance.

For the three months ended September 30, 2024 and 2023, expenses paid or payable by the Company to the Administrator under the Administration Agreement were $0.5 million and $0.5 million, respectively.

For the nine months ended September 30, 2024 and 2023, expenses paid or payable by the Company to the Administrator under the Administrative Agreement were $1.7 million and $1.5 million, respectively.

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Investments

9 Months Ended

Sep. 30, 2024

Schedule of Investments [Abstract]

Investments

Investments

The Company measures the fair value of its investments in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or “ASC Topic 820,” issued by the FASB. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The Audit Committee of the Board is responsible for assisting the Board in valuing investments for which current market quotations are not readily available. Investments for which market quotations are readily available are valued using market quotations, which are generally obtained from pricing services, broker-dealers or market makers.

The Company values its investments for which market quotations are not readily available at fair value as determined in good faith by the Board, with the assistance of the Adviser and independent valuation agents, in accordance with Rule 2a-5 of the 1940 Act and GAAP, and in accordance with the Company’s valuation methodologies. If more than one valuation method is used to measure fair value, the results are evaluated and weighted, as appropriate, considering the reasonableness of the range indicated by those results. The Adviser considers a range of fair values based upon the valuation techniques utilized and selects a value within that range that most accurately represents fair value based on current market conditions as well as other factors the Adviser’s valuation committee considers relevant. The Board determines fair value of its investments on at least a quarterly basis or at such other times when the Board feels it would be appropriate to do so given the circumstances. A determination of fair value involves subjective judgments and estimates and depends on the facts and circumstances present at each valuation date. Due to the inherent uncertainty of determining fair value of portfolio investments that do not have a readily available market value, fair value of investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.

ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. ASC Topic 820 also provides guidance regarding a fair value hierarchy, which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level of information used in the valuation. In accordance with ASC Topic 820, these inputs are summarized in the three levels listed below:

Level 1—Valuations are based on quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2—Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly and model-based valuation techniques for which all significant inputs are observable.

Level 3—Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models incorporating significant unobservable inputs, such as discounted cash flow models and other similar valuations techniques. The valuation of Level 3 assets and liabilities generally requires significant management judgment due to the inability to observe inputs to valuation.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of observable input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the investment.

Under ASC Topic 820, the fair value measurement also assumes that the transaction to sell an asset occurs in the principal market for the asset or, in the absence of a principal market, the most advantageous market for the asset, which may be a hypothetical market, excluding transaction costs. The principal market for any asset is the market with the greatest volume and level of activity for such asset in which the reporting entity would or could sell or transfer the asset. In determining the principal market for an asset or liability, it is assumed that the reporting entity has access to such market as of the measurement date. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable and willing and able to transact.

For purposes of Section 2(a)(41) and Rule 2a-5 under the 1940 Act, a market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Company can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Any portfolio investment that is not priced using a Level 1 input shall be subject to the fair value determination requirements under Rule 2a-5 and subject to the Company’s valuation procedures.

With respect to investments for which market quotations are not readily available, the Board undertakes a multi-step valuation process each quarter, as described below:

•The quarterly valuation process begins with each portfolio company or investment receiving a proposed valuation by the Adviser. The Adviser’s internal valuation committee (the “Adviser Valuation Committee”) is responsible for the valuation process, including making preliminary valuation conclusions and recommendations to the Audit Committee and Board. The Adviser Valuation Committee does not include any voting members who are portfolio managers or investment professionals.

•The Adviser’s Portfolio Valuation, Monitoring and Analytics (“VMA”) group is responsible for aiding and supporting the Adviser Valuation Committee in the Adviser Valuation Committee’s role of overseeing the valuation process, including for calculating and overseeing the valuation process and valuation conclusions, and including making recommendations with respect to discount rates, liquidity adjustments and other key inputs into the valuation process.

•Proposed valuations are then documented and discussed with the Adviser Valuation Committee and other members of the Adviser’s senior management, including members of the VMA and the Adviser’s Finance, Operations, Legal and Compliance groups.

•At least 25% of the total dollar value of the Company’s investment portfolio will receive valuation recommendations from an independent third-party valuation firm each quarter, as selected in accordance with the Company’s valuation policy. Each new portfolio investment will be reviewed by an independent third-party valuation firm within 12 months of the date of investment, and thereafter will be reviewed by an independent third-party valuation firm no later than the fourth quarter following its most recent inclusion in such review process. However, a valuation review by an independent third-party valuation firm is not required for an investment whose total dollar value is less than 1% of the total dollar value of the Company’s aggregate investment portfolio (up to an aggregate of 10% of the total dollar value of the Company’s aggregate investment portfolio) or for those assets that the Board and/or Audit Committee has agreed to waive from such requirement.

•The Adviser and the independent third-party valuation firms, if applicable, then present their proposed valuations to the Audit Committee and Board, and the Board makes a fair valuation determination for each portfolio investment that is to be fair valued.

Debt Investments

The debt investments identified on the consolidated schedules of investments are loans made to venture capital-backed companies focused in technology and other high growth industries which are backed by a select group of leading venture capital investors. These investments are considered Level 3 assets under ASC Topic 820 as there is no known or accessible market or market indices for these types of debt instruments and thus the Company must estimate the fair value of these investment securities based on models utilizing unobservable inputs.

To estimate the fair value of debt investments, the Company compares the cost basis of each debt investment, including any OID, to the resulting fair value determined using a discounted cash flow model, unless another model is more appropriate based on the circumstances at the measurement date. The discounted cash flow approach entails analyzing the interest rate spreads for recently completed financing transactions which are similar in nature to these debt investments, in order to determine a comparable range of effective market interest rates. The range of interest rate spreads utilized is based on borrowers with similar credit profiles. All remaining expected cash flows of the investment are discounted using this range of interest rates to determine a range of fair values for the debt investment.

The valuation process includes, among other things, evaluating the underlying investment performance of the portfolio company’s current financial condition and ability to raise additional capital, as well as macro-economic events that may impact valuations. These events include, but are not limited to, current market yields and interest rate spreads of similar securities as of the measurement date. Changes in these unobservable inputs could result in significantly different fair value measurements.

Under certain circumstances, an alternative technique may be used to value certain debt investments that better reflect the fair value of the investment, such as the price paid or realized in a recently completed transaction or a binding offer received in an arm’s length transaction, the use of multiple probability weighted cash flow models when the expected future cash flows contain elements of variability or estimates of proceeds that would be received in a liquidation scenario.

Warrant Investments

Warrant fair values are primarily determined using a Black Scholes option pricing model. Privately held warrants and equity-related securities are valued based on an analysis of various factors, including, but not limited to, those listed below. Increases or decreases in any of the unobservable inputs described below could result in a material change in fair value:

•Underlying enterprise value of the issuer based on available information, including any information regarding the most recent financing round of borrower. Valuation techniques to determine enterprise value include market multiple approaches, income approaches or the use of recent rounds of financing and the portfolio company’s capital structure. Valuation techniques are also utilized to allocate the enterprise fair value of a portfolio company to the specific class of common or preferred stock exercisable in the warrant. Such techniques take into account the rights and preferences of the portfolio company’s securities, expected exit scenarios, and volatility associated with such outcomes to allocate the fair value to the specific class of stock held in the portfolio. Such techniques include option pricing models, including back solve techniques, probability weighted expected return models and other techniques determined to be appropriate.

•Volatility, or the amount of uncertainty or risk about the size of the changes in the warrant investment price, is based on comparable publicly traded companies within indices similar in nature to the underlying company issuing the warrant.

•The risk-free interest rates are derived from the U.S. Treasury yield curve. The risk-free interest rates are calculated based on a weighted average of the risk-free interest rates that correspond closest to the expected remaining life of the warrant investment.

•Other adjustments, including a marketability discount on private company warrant investments, are estimated based on the Adviser’s judgment about the general industry environment.

•Historical portfolio experience on cancellations and exercises of warrant investments are utilized as the basis for determining the estimated life of the warrant investment in each financial reporting period. Warrant investments may be exercised in the event of acquisitions, mergers or initial public offerings, and cancelled due to events such as bankruptcies, restructuring activities or additional financings. These events cause the expected remaining life assumption to be shorter than the contractual term of the warrant investment.

Under certain circumstances alternative techniques may be used to value certain warrants that more accurately reflect the warrants' fair values, such as an expected settlement of a warrant in the near term, a model that incorporates a put feature associated with the warrant, or the price paid or realized in a recently completed transaction or binding offer received in an arm’s-length transaction. The fair value may be determined based on the expected proceeds to be received from such settlement or based on the net present value of the expected proceeds from the put option.

Equity Investments

The fair value of an equity investment in a privately held company is initially the amount invested. The Company adjusts the fair value of equity investments in private companies upon the completion of a new third party round of equity financing subsequent to its investment. The Company may adjust the fair value of an equity investment absent a new equity financing event based upon positive or negative changes in a portfolio company’s financial or operational performance. The Company may also reference comparable transactions and/or secondary market transactions of comparable companies to estimate fair value. These valuation methodologies involve a significant degree of judgment.

The fair value of an equity investment in a publicly traded company is based upon the closing public share price on the date of measurement.

Investment Valuation

The above-described valuation methodologies involve a significant degree of judgment. There is no single standard for determining the estimated fair value of investments that do not have an active observable market. Valuations of privately held investments are inherently uncertain, as they are based on estimates, and their values may fluctuate over time. The determination of fair value may differ materially from the values that would have been used if an active market for these investments existed. In some cases, the fair value of such investments is best expressed as a range of values derived utilizing different methodologies from which a single estimate may then be determined.

Investments measured at fair value on a recurring basis are categorized in the following table based upon the lowest level of significant input to the valuations as of September 30, 2024 and December 31, 2023. The Company transfers investments in and out of Levels 1, 2 and 3 as of the beginning balance sheet date, based on changes in the use of observable and unobservable inputs utilized to perform the valuation for the period.

Investment Type (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Debt investments	$	—	$	—	$	346,056	$	346,056	$	—	$	—	$	375,025	$	375,025
Warrant investments	—		—		18,313		18,313		—		—		16,915		16,915
Equity investments	—		—		16,472		16,472		—		—		8,255		8,255
Total portfolio company investments	$	—	$	—	$	380,841	$	380,841	$	—	$	—	$	400,195	$	400,195
Derivative instruments(1)	—		(393)		—		(393)		—		(430)		—		(430)
Total investments, including derivative instruments	$	—	$	(393)	$	380,841	$	380,448	$	—	$	(430)	$	400,195	$	399,765

_______________

(1)Derivative instruments are carried at fair value and a level 2 security within the Company’s fair value hierarchy.

The following table shows information about Level 3 portfolio company investments measured at fair value for the nine months ended September 30, 2024 and 2023. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the net unrealized gains and losses for assets within the Level 3 category may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2024
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2023	$	375,026	$	16,913	$	8,257	$	400,196
Funding and purchases of investments, at cost	84,752		2,500		3,391		90,643
Principal payments and sale proceeds received from investments	(99,168)		(704)		—		(99,872)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,430		—		—		4,430
Realized losses on investments	(10,572)		(65)		—		(10,637)
Net change in unrealized gains (losses) included in earnings	(6,415)		(304)		9		(6,710)
Payment-in-kind coupon	2,791		—		—		2,791
Transfers between investments	(4,788)		(27)		4,815		—
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2024	$	346,056	$	18,313	$	16,472	$	380,841
Net change in unrealized losses on Level 3 investments held as of September 30, 2024	$	(8,076)	$	(22)	$	9	$	(8,089)

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2023
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2022	$	413,558	$	18,445	$	9,366	$	441,369
Funding and purchases of investments, at cost	72,064		1,772		780		74,616
Principal payments and sale proceeds received from investments	(67,533)		—		—		(67,533)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,663		—		—		4,663
Realized losses on investments	(18,083)		(1,176)		(500)		(19,759)
Net change in unrealized gains (losses) included in earnings	(6,828)		(1,756)		(561)		(9,145)
Payment-in-kind coupon	3,565		—		—		3,565
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2023	$	401,406	$	17,285	$	9,085	$	427,776
Net change in unrealized gains (losses) on Level 3 investments held as of September 30, 2023	$	(13,008)	$	(1,756)	$	(561)	$	(15,325)

_______________

(1)Transfers out of Level 3 are measured as of the date of the transfer. There were no transfers out of Level 3 during the nine months ended September 30, 2024 or the nine months ended September 30, 2023.

Realized gains and losses are included in “net realized losses on investments” in the consolidated statements of operations.

For the three months ended September 30, 2024 and 2023, the Company recognized net realized losses of $2.3 million and $0.2 million, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized net realized losses of $9.3 million and $18.7 million, respectively.

Unrealized gains and losses are included in “net change in unrealized losses on investments” in the consolidated statements of operations.

Net change in unrealized losses during the three months ended September 30, 2024 and 2023 totaled $2.8 million and $3.4 million, respectively, resulting primarily from market rate adjustments and foreign currency adjustments. Net change in unrealized losses for the nine months ended September 30, 2024 and 2023 totaled $6.7 million and $8.8 million, respectively.

The following tables show a summary of quantitative information about the Level 3 fair value measurements of portfolio company investments as of September 30, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the tables below, the Company may also use other valuation techniques and methodologies when determining fair value measurements.

Level 3 Investments (dollars in thousands)	September 30, 2024
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	338,366	Discounted Cash Flows	Discount Rate	11.43% - 42.44%	18.96%
	7,690		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	0.00% - 100.00%	80.77%
Warrant investments	18,313		Black Scholes Option Pricing Model	Revenue Multiples	0.40x - 56.90x	5.55x
				Volatility	35.00% - 85.00%	62.11%
				Term	0.50 - 5.50 Years	3.38 Years
				Risk Free Rate	0.17% - 4.87%	2.89%
Equity investments	16,472		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	57.67%
				Term	1.75 - 4.00 Years	3.11 Years
				Risk Free Rate	0.46% - 4.86%	3.31%
				Revenue Multiples	0.70x - 11.00x	2.38x
Total portfolio company investments	$	380,841

Level 3 Investments (dollars in thousands)	December 31, 2023
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	366,489	Discounted Cash Flows	Discount Rate	11.71% - 44.09%	19.76%
	8,536		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	30.00% - 100.00%	72.26%
Warrant investments	16,915		Black Scholes Option Pricing Model	Revenue Multiples	0.18x - 56.90x	6.91
				Volatility	45.00% - 90.00%	65.07%
				Term	0.50 - 5.50 Years	3.47 Years
				Risk Free Rate	0.17% - 5.03%	2.93%
Equity investments	8,255		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	59.60%
				Term	1.75 - 4.00 Years	3.28 Years
				Risk Free Rate	0.46% - 4.86%	3.04%
				Revenue Multiples	1.09x - 14.00x	4.94x
Total portfolio company investments	$	400,195

Increases or decreases in any of the above unobservable inputs in isolation would result in a lower or higher fair value measurement for such assets.

Derivative Instruments

The Company enters into forward currency contracts from time to time to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. The notional amounts as of September 30, 2024 and December 31, 2023, as shown in the Consolidated Schedule of Investments, are representative of the average volume throughout the nine months ended September 30, 2024 and year ended December 31, 2023, respectively. The following table shows a summary of the fair value and location of the Company’s derivative instruments in the Consolidated Statements of Assets and Liabilities held as of September 30, 2024 and December 31, 2023:

		Fair Value as of
Derivative Instrument	Statement Location	September 30, 2024		December 31, 2023
Foreign currency forward contracts	Other accrued expenses and liabilities	$	(393)	$	(430)
Foreign currency forward contracts	Prepaid expenses and other assets	—		—
Total		$	(393)	$	(430)

Net realized and unrealized gains and losses on derivative instruments recorded by the Company during nine months ended September 30, 2024 and 2023 are in the following locations in the Consolidated Statements of Operations:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Derivative Instrument	Statement Location	2024		2023		2024		2023
Foreign currency forward contracts	Net realized losses on investments	$	(302)	$	—	$	(518)	$	—
Foreign currency forward contracts	Net change in unrealized losses on investments	(330)		198		37		198
Total		$	(632)	$	198	$	(481)	$	198

Offsetting of Derivative Instruments

The Company has derivative instruments that are subject to master netting agreements. These agreements include provisions to offset positions with the same counterparty in the event of default by one of the parties. The Company’s unrealized appreciation and depreciation on derivative instruments are reported as gross assets and liabilities, respectively, in the consolidated balance sheets. The following tables show the Company’s assets and liabilities related to derivatives by counterparty, net of amounts available for offset under a master netting arrangement and net of any collateral received or pledged by the Company for such assets and liabilities as of September 30, 2024 and December 31, 2023:

	As of September 30, 2024
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(393)	$	—	$	—	$	—	$	(393)
Total	$	(393)	$	—	$	—	$	—	$	(393)

	As of December 31, 2023
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(430)	$	—	$	—	$	—	$	(430)
Total	$	(430)	$	—	$	—	$	—	$	(430)

_______________

(1)In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization.

(2)Net amount of derivative assets represents the net amount due from the counterparty to the Company.

(3)Net amount of derivative liabilities represents the net amount due from the Company to the counterparty.

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Credit Risk

9 Months Ended

Sep. 30, 2024

Credit Loss [Abstract]

Credit Risk

Credit Risk

Debt investments may be affected by business, financial market or legal uncertainties. Prices of investments may be volatile, and a variety of factors that are inherently difficult to predict, such as domestic, economic and political developments, may significantly affect the value of these investments. In addition, the value of these investments may fluctuate as the general level of interest rates fluctuates.

In many instances, the portfolio company’s ability to repay the debt investments is dependent on additional funding by its venture capital investors, a future sale or an initial public offering. The value of these investments may be detrimentally affected to the extent a borrower defaults on its obligations, there is insufficient collateral and/or there are extensive legal and other costs incurred in collecting on a defaulted loan.

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Borrowings

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Borrowings

Borrowings

The following table shows the Company's outstanding debt as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024						December 31, 2023
	Total Commitment		Balance Outstanding		Unused Commitment		Total Commitment		Balance Outstanding		Unused Commitment
Revolving Credit Facility	$	250,000	$	80,500	$	169,500	$	250,000	$	87,500	$	162,500
2027 Notes	75,000		75,000		—		75,000		75,000		—
Total	$	325,000	$	155,500	$	169,500	$	325,000	$	162,500	$	162,500

Interest expense on these borrowings includes the interest cost charged on borrowings, the unused fee on the Credit Facility (as defined below), paying and administrative agent fees, and the amortization of deferred Credit Facility fees and expenses. These expenses are shown in the table below:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Interest Expense and Amortization of Fees (in thousands)	2024		2023		2024		2023
Revolving Credit Facility
Interest cost	$	2,909	$	2,501	$	7,344	$	7,414
Unused fee	226		280		635		809
Amortization of costs and other fees	255		539		749		1,055
Revolving Credit Facility Total	$	3,390	$	3,320	$	8,728	$	9,278
2027 Notes
Interest cost	$	1,099	$	1,099	$	3,296	$	3,296
Amortization of costs and other fees	47		44		139		129
2027 Notes Total	$	1,146	$	1,143	$	3,435	$	3,425
Total interest expense and amortization of fees	$	4,536	$	4,463	$	12,163	$	12,703

Credit Facility

On July 15, 2020, the Company’s wholly-owned subsidiary, the Financing Subsidiary, as the borrower, entered into a secured revolving credit facility (as amended, the “Credit Facility”) pursuant to a Receivables Financing Agreement (the “Receivables Financing Agreement”), by and among the Financing Subsidiary, the Company, individually and as collateral manager and as equityholder, the lenders from time to time party thereto, Deutsche Bank AG, New York Branch (“DBNY”), as the facility agent, DBNY and MUFG Union Bank, N.A. (“MUFG”), as joint lead arrangers, Deutsche Bank Trust Company Americas, as paying agent and as collection account bank, the custodian party thereto, and Vervent Inc., as backup collateral manager. As of September 30, 2024, commitments available total $250.0 million from four lenders—DBNY, MUFG, KeyBank National Association (“KeyBank”) and TIAA, FSB—subject to an accordion feature, which allows the Financing Subsidiary to request an increase in the size of the Credit Facility to an amount not to exceed $400.0 million (including by adding additional lenders under the Credit Facility), subject to certain conditions and the consent of the lenders. The Credit Facility is collateralized by all of the assets of the Financing Subsidiary, including the loans and other investments acquired by the Financing Subsidiary from time to time and collections thereon.

The revolving period under the Credit Facility is scheduled to expire on July 15, 2025, subject to an extension with the consent of the lenders and early termination if an event of default occurs or other adverse events, specified in the Receivables Financing Agreement, occur. The scheduled maturity date for the Credit Facility is January 15, 2027, unless earlier terminated in accordance with the terms of the Receivables Financing Agreement. Advances are made under the Credit Facility pursuant to a borrowing base, which generally utilizes a 55% advance rate on the applicable net loan balance of assets held by the Financing Subsidiary, subject to excess concentrations and other restrictions set forth in the Receivables Financing Agreement. Advances under the Credit Facility accrue interest at a per annum rate equal to the applicable margin plus the greater of 3-month Term SOFR and 0.50% and are subject to certain minimum principal utilization amounts during the revolving period. As of September 30, 2024, the applicable margin is equal to 3.25% during the revolving period and increases to 4.25% during the amortization period.

The Credit Facility includes customary representations and warranties and requires the Company and the Financing Subsidiary to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Borrowings under the Credit Facility are subject to the leverage restrictions contained in the 1940 Act. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all covenants under the Credit Facility.

As of September 30, 2024 and December 31, 2023, the Company had outstanding borrowings under the Credit Facility of $80.5 million and $87.5 million, respectively, excluding deferred credit facility costs of $2.3 million and $3.0 million, respectively, which are included as assets in the Company’s consolidated statements of assets and liabilities. The book value of the Credit Facility approximates fair value due to the relatively short maturity, cash repayments and market interest rates of the instrument. The fair value of the Credit Facility would be categorized as Level 3 in the fair value hierarchy if determined as of the reporting date. During the three months ended September 30, 2024 and 2023, the Company had average outstanding borrowings under the Credit Facility of $72.8 million and $103.9 million, respectively, at a weighted average interest rate of 8.45% and 8.59%, respectively. During the nine months ended September 30, 2024 and 2023, the Company had average outstanding borrowings under the Credit Facility of $82.8 million and $107.8 million, respectively, at a weighted average interest rate of 8.53% and 8.24%, respectively. As of September 30, 2024 and December 31, 2023, $237.9 million and $255.0 million, respectively, of the Company’s assets were pledged for borrowings under the Credit Facility.

2027 Notes

On April 6, 2022, the Company issued $75.0 million in aggregate principal amount of senior unsecured notes due April 2027 with a fixed interest rate of 5.86% per year (the “2027 Notes”). The 2027 Notes were issued in a private placement to certain qualified institutional investors, pursuant to the terms of the Master Note Purchase Agreement, dated as of April 6, 2022 (the “Note Purchase Agreement”). The 2027 Notes will mature on April 6, 2027, unless redeemed, purchased or prepaid prior to such date in accordance with their terms. In the event that a Below Investment Grade Event (as defined in the Note Purchase Agreement) occurs, the 2027 Notes will bear interest at a fixed rate of 6.86% per year from the date of the occurrence of the Below Investment Grade Event to and until the date on which the Below Investment Grade Event is no longer continuing.

Interest on the 2027 Notes is due semiannually on April 6 and October 6 each year, beginning on October 6, 2022. The 2027 Notes may be redeemed in whole or in part at any time or from time to time at the Company’s option at par plus accrued interest to the prepayment date and, if applicable, a make-whole premium. In addition, the Company is obligated to offer to prepay the 2027 Notes at par plus accrued and unpaid interest up to, but excluding, the date of prepayment, if certain change in control events occur. The 2027 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company; provided however, in the event that the Company creates, incurs, assumes or permits to exist liens on or with respect to any of its property or assets in connection with future secured indebtedness of more than an aggregate principal amount of $25 million, the 2027 Notes will generally become secured concurrently therewith, equally and ratably with such indebtedness.

The Note Purchase Agreement contains customary terms and conditions for senior unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants such as information reporting, maintenance of the Company’s status as a business development company within the meaning of the 1940 Act, a minimum asset coverage ratio of 1.50 to 1.00, a minimum interest coverage ratio of 1.25 to 1.00, and minimum stockholders’ equity of $142.8 million, as adjusted upward by an amount equal to 65% of the net proceeds from the issuance of shares of the Company’s common stock subsequent to December 31, 2021. The Note Purchase Agreement also contains customary events of default with customary cure and notice periods, including, without limitation, nonpayment, incorrect representation in any material respect, breach of covenant, cross-default under other indebtedness of the Company or subsidiary guarantors, certain judgments and orders, certain events of bankruptcy, and breach of a key man clause relating to the Company’s Chief Executive Officer, James P. Labe, and the Company’s President and Chief Investment Officer, Sajal K. Srivastava. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all covenants under the 2027 Notes.

The 2027 Notes are recorded at amortized cost in the consolidated statements of assets and liabilities. Amortized cost includes $0.5 million and $0.6 million of deferred issuance cost as of September 30, 2024 and December 31, 2023, respectively, which is amortized and expensed over the five-year term of the 2027 Notes based on an effective yield method. As of September 30, 2024 and December 31, 2023, the fair value of the 2027 Notes was $74.0 million and $71.3 million, respectively, and would be categorized as Level 3 of the fair value hierarchy if determined as of the reporting date.

The following table shows additional information about the level in the fair value hierarchy of the Company’s liabilities as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Credit Facility	$	—	$	—	$	80,500	$	80,500	$	—	$	—	$	87,500	$	87,500
2027 Notes	—		—		73,993		73,993		—		—		71,333		71,333
Total	$	—	$	—	$	154,493	$	154,493	$	—	$	—	$	158,833	$	158,833

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Commitments

As of September 30, 2024 and December 31, 2023, the Company’s unfunded commitments totaled $63.9 million to 21 portfolio companies and $72.2 million to 25 portfolio companies, respectively, of which $44,000 and $6.3 million, respectively, were dependent upon the applicable portfolio company reaching certain milestones before the debt commitment becomes available to them.

The Company’s credit agreements contain customary lending provisions that allow it relief from funding obligations for previously made commitments in instances where the underlying company experiences material adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.

The following table shows the Company’s unfunded commitments by portfolio company as of September 30, 2024 and December 31, 2023:

	September 30, 2024				December 31, 2023
Unfunded Commitments(1) (in thousands)	Unfunded Commitments		Fair Value of Unfunded Commitment Liability		Unfunded Commitments		Fair Value of Unfunded Commitment Liability
Activehours, Inc.	$	10,000	$	41	$	10,000	$	—
Etched.ai, Inc.	10,000		350		—		—
Luxury Presence, Inc.	7,000		74		6,000		65
Karat Financial Technologies, Inc.	6,719		84		6,719		84
Cresta Intelligence, Inc.	5,000		16		—		—
Thoughtful Automation, Inc.	4,061		39		—		—
Haven Energy Inc.	2,700		14		—		—
Headout Inc.	2,649		20		—		—
Earth Funeral Group, Inc.	2,570		66		—		—
Planet A Foods GmbH	2,232		43		—		—
Panorama Education, Inc.	2,140		2		—		—
Join Digital, Inc.	2,100		41		—		—
Ocrolus Inc.	1,714		22		—		—
Overtime Sports, Inc.	1,143		8		1,143		8
Hover Inc.	1,000		14		—		—
Quantum Circuits, Inc.	1,000		10		—		—
Mirelo AI GmbH	926		18
Idelic, Inc.	400		4		1,200		7
Worldwide Freight Logistics Ltd.	268		4		345		10
Flashparking, Inc.	250		1		—		—
Ephemeral Solutions, Inc.	44		1		—		—
Dance GmbH	—		8		—		—
Encore Music Technologies, Inc.	—		2		—		1
Perry Health, Inc.	—		—		8,000		97
Ever/Body Inc.	—		—		6,200		102
Prose Beauty, Inc.	—		—		6,000		215
Machinify, Inc.	—		—		5,000		58
Placemakr, Inc.	—		—		5,000		168
JOKR	—		—		3,748		238
Parsable, Inc.	—		—		2,667		37
Firemaps, Inc.	—		—		2,000		43
FireHydrant, Inc.	—		—		1,200		29
McN Investments Ltd.	—		—		1,000		5
Pair Eyewear, Inc.	—		—		1,000		10
Substack, Inc.	—		—		1,000		13
Tempus Ex Machina, Inc.	—		—		1,000		—
Virtual Facility, Inc.	—		—		1,000		—
Highbeam, Inc.	—		—		813		10
Construction Finance Corporation	—		—		575		10
OnSiteIQ, Inc.	—		—		334		5
Forum Brands, LLC	—		—		147		5
Allplants LTD	—		—		102		4
Total	$	63,916	$	882	$	72,193	$	1,224

_______________

(1)As of September 30, 2024 and December 31, 2023, the Company did not have any backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

The fair value at the inception of the delay draw credit agreements is equal to the fees and warrants received to enter into these agreements, taking into account the remaining terms of the agreements and the counterparties’ credit profile. The unfunded commitment liability reflects the fair value of these future funding commitments and is included in “Other accrued expenses and liabilities” in the Company’s consolidated statements of assets and liabilities.

These liabilities are considered Level 3 liabilities under ASC Topic 820 as there is no known or accessible market or market indices for these types of financial instruments. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. The following table shows additional details regarding the Company's unfunded commitment activity for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Commitments Activity (in thousands)	2024		2023		2024		2023
Unfunded commitments at beginning of period(1)	$	58,223	$	88,138	$	72,193	$	142,102
New commitments(1)	42,674		33,735		111,113		102,954
Fundings	(26,071)		(13,393)		(87,674)		(73,358)
Repayments under existing revolvers	—		10,874		—		11,116
Expirations / Terminations	(10,979)		(15,530)		(31,781)		(79,136)
Foreign currency adjustments	69		(24)		65		122
Unfunded commitments and backlog of potential future commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800
Backlog of potential future commitments	—		—		—		—
Unfunded commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800

_______________

(1)Includes backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

The following table shows additional information on the Company’s unfunded commitments regarding milestones and expirations as of September 30, 2024 and December 31, 2023:

Unfunded Commitments(1) (in thousands)	September 30, 2024		December 31, 2023
Dependent on milestones	$	44	$	6,300
Expiring during:
2024	20,431		64,331
2025	33,095		7,862
2026	10,390		—
Unfunded commitments	$	63,916	$	72,193

_______________

(1)Does not include backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

Backlog of Potential Future Commitments

The Company may enter into commitments with certain portfolio companies that permit an increase in the commitment amount in the future in the event that certain conditions to make such increases are met. If such conditions to increase are met, these amounts may become unfunded commitments, if not drawn prior to expiration. As of September 30, 2024 and December 31, 2023, the Company did not have any backlog of potential future commitments.

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Financial Highlights

9 Months Ended

Sep. 30, 2024

Investment Company [Abstract]

Financial Highlights

Financial Highlights

The following table shows the financial highlights for the nine months ended September 30, 2024 and 2023:

	For the Nine Months Ended September 30,
Financial Highlights (in thousands, except share and per share data)	2024			2023
Per Share Data(1)
Net asset value at beginning of period	$	12.24		$	14.00
Changes in net asset value due to:
Net investment income	1.15			1.61
Net realized gains/(losses) on investments	(0.39)			(0.92)
Net change in unrealized losses on investments	(0.28)			(0.44)
Distributions to common shareholders	(0.88)			(0.84)
Net asset value at end of period	$	11.84		$	13.41
Net investment income per common share	1.15			$	1.61
Net increase in net assets resulting from operations per common share	$	0.48		$	0.25
Weighted average shares of common stock outstanding for period	23,689,363			20,297,200
Shares of common stock outstanding at end of period	23,689,363			20,297,200
Ratios / Supplemental Data(2)
Net asset value at end of period	$	281,015		$	272,654
Average net asset value	$	288,786		$	284,094
Total return based on net asset value per share(3)	3.9		%	1.8		%
Net investment income to average net asset value(4)	12.7		%	15.4		%
Net increase in net assets to average net asset value(4)	5.3		%	2.4		%
Ratio of expenses to average net asset value(4)	9.6		%	9.7		%
Operating expenses excluding incentive fees to average net asset value(4)	9.6		%	9.7		%

_____________

(1)All per share activity is calculated based on the weighted average common shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.

(2)NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity.

(3)Total return based on NAV is the change in ending NAV per common share plus distributions per common share paid during the period by the beginning NAV per common share. Total return does not reflect sales charges that may be incurred by stockholders. The total return is for the period presented and is not annualized.

(4)Percentage is presented on an annualized basis.

The following table shows the weighted average portfolio yield on debt investments for the nine months ended September 30, 2024 and 2023:

	For the Nine Months Ended September 30,
Ratios (Percentages, on an annualized basis)(1)	2024		2023
Weighted average portfolio yield on debt investments(2)	15.4	%	16.4	%
Coupon income	11.7	%	12.7	%
Accretion of discount	1.1	%	1.3	%
Accretion of end-of-term payments	1.7	%	1.9	%
Impact of prepayments during the period	0.9	%	0.5	%

_____________

(1)Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.

(2)The weighted average portfolio yields on debt investments reflected above do not represent actual investment returns to the Company's shareholders.

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Net Increase in Net Assets per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Increase in Net Assets per Share

Net Increase in Net Assets per Share

The following table shows the computation of basic and diluted net increase (decrease) in net assets per common share for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Basic and Diluted Share Information (in thousands, except share and per share data)	2024		2023		2024		2023
Net investment income	$	8,054	$	10,326	$	27,361	$	32,655
Net increase (decrease) in net assets resulting from operations	2,931		$	6,798	11,367		5,116
Basic and diluted weighted average shares of common stock outstanding	23,689,363		20,297,200		23,689,363		20,297,200
Basic and diluted net investment income per share of common stock	$	0.34	$	0.51	$	1.15	$	1.61
Basic and diluted net increase (decrease) in net assets resulting from operations per share of common stock	$	0.12	$	0.33	$	0.48	$	0.25

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Equity

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Equity

Equity

During each of the three and nine months ended September 30, 2024 and 2023, the Company did not issue any shares of common stock through the Company’s private placement offering.

As of both September 30, 2024 and December 31, 2023, the Company had 23,689,363 shares of common stock outstanding. As of both September 30, 2024 and December 31, 2023, the Company had 525 shares of its Series A Preferred Stock outstanding.

As of September 30, 2024, the Company had received capital commitments totaling $386.8 million, of which $354.7 million had been funded, with the Company’s stockholders released from funding obligations for any remaining undrawn capital commitments effective upon the expiration of the Company’s investment period in December 2023, subject to limited exceptions set forth in the stockholders’ subscription agreements with the Company.

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Common Distributions

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Common Distributions

Common Distributions

The Company has elected to be treated, and intends to comply with the requirements to continue to qualify annually, as a RIC under the Code. In order to maintain its ability to be subject to tax as a RIC, among other things, the Company is required to distribute at least 90% of its net ordinary income and net realized short-term capital gains in excess of its net realized long-term capital losses, if any, to its shareholders. Additionally, to avoid a nondeductible 4% U.S. federal excise tax on certain of the Company’s undistributed income, the Company must distribute during each calendar year an amount at least equal to the sum of: (a) 98% of the Company’s ordinary income (not taking into account any capital gains or losses) for such calendar year; (b) 98.2% of the amount by which the Company’s capital gains exceed the Company’s capital losses (adjusted for certain ordinary losses) for a one-year period ending on October 31 of the calendar year (unless an election is made by the Company to use its taxable year); and (c) certain undistributed amounts from previous years on which the Company paid no U.S. federal income tax.

For the tax years ended December 31, 2023 and 2022, the Company was subject to a 4% U.S. federal excise tax, and the Company may be subject to this tax in future years. In such cases, the Company is liable for the tax only on the amount by which the Company does not meet the foregoing distribution requirement. The character of income and gains that the Company distributes is determined in accordance with U.S. income tax regulations that may differ from GAAP. Book and tax basis differences relating to stockholder dividends and distributions and other permanent book and tax differences are reclassified to paid-in capital. The Company incurred a non-deductible U.S. federal excise tax of $0.6 million and $0.3 million for the years ended December 31, 2023 and 2022, respectively.

The following table shows the Company’s cash distributions per common share that have been authorized by the Board since commencement of operations to September 30, 2024:

Date Declared	Record Date	Payment Date	Per Share Amount
November 12, 2020	November 13, 2020	November 20, 2020	$	0.15
December 21, 2020	December 22, 2020	December 30, 2020	0.30
December 21, 2020	December 22, 2020	December 30, 2020	0.14		(1)
May 12, 2021	May 13, 2021	May 19, 2021	0.30
August 11, 2021	August 13, 2021	August 27, 2021	0.30
October 29, 2021	November 1, 2021	November 12, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.10		(2)
April 28, 2022	May 13, 2022	May 19, 2022	0.33
July 26, 2022	August 5, 2022	August 26, 2022	0.40
October 28, 2022	November 1, 2022	November 11, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.10		(2)
April 27, 2023	May 12, 2023	May 19, 2023	0.42
July 27, 2023	August 4, 2023	August 25, 2023	0.42
October 27, 2023	October 30, 2023	November 15, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.12		(2)
April 25, 2024	April 29, 2024	May 17, 2024	0.47
August 1, 2024	August 5, 2024	August 23, 2024	0.41
		Total cash distributions	$	6.30

_____________

(1)Represents a special distribution sourced from net realized short-term capital gains.

(2)Represents a special distribution sourced from net investment income.

It is the Company’s intention to distribute all or substantially all of its taxable income earned over the course of the year; thus, no provision for income tax has been recorded in the Company’s consolidated statements of operations during the three and nine months ended September 30, 2024. However, the Company may choose not to distribute all of its taxable income for a number of reasons, including retaining excess taxable income for investment purposes and/or defer the payment of distributions associated with the excess taxable income for future calendar years.

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Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Distribution

On October 31, 2024, the Board declared a $0.41 per share distribution to the Company’s common stockholders, payable on November 15, 2024 to stockholders of record on November 1, 2024.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,931	$ 6,798	$ 11,367	$ 5,116

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Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

The accompanying interim consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6, 10 and 12 of Regulation S-X. Accordingly, certain disclosures required by GAAP for the annual reporting of consolidated financial statements are omitted.

Consolidation

The consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All adjustments and reclassifications that are necessary for the fair representation of financial results as of and for the periods presented have been included and all intercompany account balances and transactions have been eliminated.

Certain items in the prior period’s consolidated financial statements have been conformed to the current period’s presentation. These presentation changes, if any, did not impact any prior amounts of reported total assets, total liabilities, net assets or results of operations.

These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 13, 2024, including the significant accounting policies described in “Note 2. Significant Accounting Policies” in the Company’s consolidated financial statements included therein.

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Related Party Agreements and Transactions (Tables)

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The base management fee and income incentive fee earned by the Adviser and capital gains incentive fee accrual are included in the Company’s consolidated financial statements and summarized in the table below:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Base Management and Incentive Fees (in thousands)	2024		2023		2024		2023
Base management fee	$	1,552	$	1,378	$	4,647	$	4,089
Income incentive fee	$	—	$	—	$	—	$	—
Capital gains incentive fee	$	—	$	—	$	—	$	—

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Investments (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Investments [Abstract]

Schedule of Investments Measured at Fair Value on a Recurring Basis

Investments measured at fair value on a recurring basis are categorized in the following table based upon the lowest level of significant input to the valuations as of September 30, 2024 and December 31, 2023. The Company transfers investments in and out of Levels 1, 2 and 3 as of the beginning balance sheet date, based on changes in the use of observable and unobservable inputs utilized to perform the valuation for the period.

Investment Type (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Debt investments	$	—	$	—	$	346,056	$	346,056	$	—	$	—	$	375,025	$	375,025
Warrant investments	—		—		18,313		18,313		—		—		16,915		16,915
Equity investments	—		—		16,472		16,472		—		—		8,255		8,255
Total portfolio company investments	$	—	$	—	$	380,841	$	380,841	$	—	$	—	$	400,195	$	400,195
Derivative instruments(1)	—		(393)		—		(393)		—		(430)		—		(430)
Total investments, including derivative instruments	$	—	$	(393)	$	380,841	$	380,448	$	—	$	(430)	$	400,195	$	399,765

_______________

(1)Derivative instruments are carried at fair value and a level 2 security within the Company’s fair value hierarchy.

Schedule of Rollforward of Level 3 Investments Measured at Fair Value

The following table shows information about Level 3 portfolio company investments measured at fair value for the nine months ended September 30, 2024 and 2023. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the net unrealized gains and losses for assets within the Level 3 category may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2024
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2023	$	375,026	$	16,913	$	8,257	$	400,196
Funding and purchases of investments, at cost	84,752		2,500		3,391		90,643
Principal payments and sale proceeds received from investments	(99,168)		(704)		—		(99,872)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,430		—		—		4,430
Realized losses on investments	(10,572)		(65)		—		(10,637)
Net change in unrealized gains (losses) included in earnings	(6,415)		(304)		9		(6,710)
Payment-in-kind coupon	2,791		—		—		2,791
Transfers between investments	(4,788)		(27)		4,815		—
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2024	$	346,056	$	18,313	$	16,472	$	380,841
Net change in unrealized losses on Level 3 investments held as of September 30, 2024	$	(8,076)	$	(22)	$	9	$	(8,089)

Level 3 Investment Activity (in thousands)	For the Nine Months Ended September 30, 2023
	Debt Investments		Warrant Investments		Equity Investments		Total Portfolio Company Investments
Fair value as of December 31, 2022	$	413,558	$	18,445	$	9,366	$	441,369
Funding and purchases of investments, at cost	72,064		1,772		780		74,616
Principal payments and sale proceeds received from investments	(67,533)		—		—		(67,533)
Amortization and accretion of premiums and discounts, net and end-of term payments	4,663		—		—		4,663
Realized losses on investments	(18,083)		(1,176)		(500)		(19,759)
Net change in unrealized gains (losses) included in earnings	(6,828)		(1,756)		(561)		(9,145)
Payment-in-kind coupon	3,565		—		—		3,565
Gross transfers out of Level 3(1)	—		—		—		—
Fair value as of September 30, 2023	$	401,406	$	17,285	$	9,085	$	427,776
Net change in unrealized gains (losses) on Level 3 investments held as of September 30, 2023	$	(13,008)	$	(1,756)	$	(561)	$	(15,325)

_______________

(1)Transfers out of Level 3 are measured as of the date of the transfer. There were no transfers out of Level 3 during the nine months ended September 30, 2024 or the nine months ended September 30, 2023.

Schedule of Quantitative Information About the Level 3 Fair Value Measurements

The following tables show a summary of quantitative information about the Level 3 fair value measurements of portfolio company investments as of September 30, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the tables below, the Company may also use other valuation techniques and methodologies when determining fair value measurements.

Level 3 Investments (dollars in thousands)	September 30, 2024
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	338,366	Discounted Cash Flows	Discount Rate	11.43% - 42.44%	18.96%
	7,690		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	0.00% - 100.00%	80.77%
Warrant investments	18,313		Black Scholes Option Pricing Model	Revenue Multiples	0.40x - 56.90x	5.55x
				Volatility	35.00% - 85.00%	62.11%
				Term	0.50 - 5.50 Years	3.38 Years
				Risk Free Rate	0.17% - 4.87%	2.89%
Equity investments	16,472		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	57.67%
				Term	1.75 - 4.00 Years	3.11 Years
				Risk Free Rate	0.46% - 4.86%	3.31%
				Revenue Multiples	0.70x - 11.00x	2.38x
Total portfolio company investments	$	380,841

Level 3 Investments (dollars in thousands)	December 31, 2023
	Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
Debt investments	$	366,489	Discounted Cash Flows	Discount Rate	11.71% - 44.09%	19.76%
	8,536		Probability-Weighted Expected Return Method	Probability Weighting of Alternative Outcomes	30.00% - 100.00%	72.26%
Warrant investments	16,915		Black Scholes Option Pricing Model	Revenue Multiples	0.18x - 56.90x	6.91
				Volatility	45.00% - 90.00%	65.07%
				Term	0.50 - 5.50 Years	3.47 Years
				Risk Free Rate	0.17% - 5.03%	2.93%
Equity investments	8,255		Black Scholes Option Pricing Model	Volatility	50.00% - 85.00%	59.60%
				Term	1.75 - 4.00 Years	3.28 Years
				Risk Free Rate	0.46% - 4.86%	3.04%
				Revenue Multiples	1.09x - 14.00x	4.94x
Total portfolio company investments	$	400,195

Schedule of Derivative Instruments Not Designated as Hedging Instruments

The following table shows a summary of the fair value and location of the Company’s derivative instruments in the Consolidated Statements of Assets and Liabilities held as of September 30, 2024 and December 31, 2023:

		Fair Value as of
Derivative Instrument	Statement Location	September 30, 2024		December 31, 2023
Foreign currency forward contracts	Other accrued expenses and liabilities	$	(393)	$	(430)
Foreign currency forward contracts	Prepaid expenses and other assets	—		—
Total		$	(393)	$	(430)

Net realized and unrealized gains and losses on derivative instruments recorded by the Company during nine months ended September 30, 2024 and 2023 are in the following locations in the Consolidated Statements of Operations:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Derivative Instrument	Statement Location	2024		2023		2024		2023
Foreign currency forward contracts	Net realized losses on investments	$	(302)	$	—	$	(518)	$	—
Foreign currency forward contracts	Net change in unrealized losses on investments	(330)		198		37		198
Total		$	(632)	$	198	$	(481)	$	198

Schedule of Offsetting Assets

The following tables show the Company’s assets and liabilities related to derivatives by counterparty, net of amounts available for offset under a master netting arrangement and net of any collateral received or pledged by the Company for such assets and liabilities as of September 30, 2024 and December 31, 2023:

	As of September 30, 2024
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(393)	$	—	$	—	$	—	$	(393)
Total	$	(393)	$	—	$	—	$	—	$	(393)

	As of December 31, 2023
Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Assets(2)
Zions Bancorporation, N.A.	$	—	$	—	$	—	$	—	$	—
Total	$	—	$	—	$	—	$	—	$	—

Counterparty	Derivative Liabilities Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(1)		Cash Collateral Received(1)		Net Amount of Derivative Liabilities(3)
Zions Bancorporation, N.A.	$	(430)	$	—	$	—	$	—	$	(430)
Total	$	(430)	$	—	$	—	$	—	$	(430)

_______________

(1)In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization.

(2)Net amount of derivative assets represents the net amount due from the counterparty to the Company.

(3)Net amount of derivative liabilities represents the net amount due from the Company to the counterparty.

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Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The following table shows the Company's outstanding debt as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024						December 31, 2023
	Total Commitment		Balance Outstanding		Unused Commitment		Total Commitment		Balance Outstanding		Unused Commitment
Revolving Credit Facility	$	250,000	$	80,500	$	169,500	$	250,000	$	87,500	$	162,500
2027 Notes	75,000		75,000		—		75,000		75,000		—
Total	$	325,000	$	155,500	$	169,500	$	325,000	$	162,500	$	162,500

Interest expense on these borrowings includes the interest cost charged on borrowings, the unused fee on the Credit Facility (as defined below), paying and administrative agent fees, and the amortization of deferred Credit Facility fees and expenses. These expenses are shown in the table below:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Interest Expense and Amortization of Fees (in thousands)	2024		2023		2024		2023
Revolving Credit Facility
Interest cost	$	2,909	$	2,501	$	7,344	$	7,414
Unused fee	226		280		635		809
Amortization of costs and other fees	255		539		749		1,055
Revolving Credit Facility Total	$	3,390	$	3,320	$	8,728	$	9,278
2027 Notes
Interest cost	$	1,099	$	1,099	$	3,296	$	3,296
Amortization of costs and other fees	47		44		139		129
2027 Notes Total	$	1,146	$	1,143	$	3,435	$	3,425
Total interest expense and amortization of fees	$	4,536	$	4,463	$	12,163	$	12,703

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table shows additional information about the level in the fair value hierarchy of the Company’s liabilities as of September 30, 2024 and December 31, 2023:

Liability (in thousands)	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Credit Facility	$	—	$	—	$	80,500	$	80,500	$	—	$	—	$	87,500	$	87,500
2027 Notes	—		—		73,993		73,993		—		—		71,333		71,333
Total	$	—	$	—	$	154,493	$	154,493	$	—	$	—	$	158,833	$	158,833

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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Financial Support For Nonconsolidated Entity

The following table shows the Company’s unfunded commitments by portfolio company as of September 30, 2024 and December 31, 2023:

	September 30, 2024				December 31, 2023
Unfunded Commitments(1) (in thousands)	Unfunded Commitments		Fair Value of Unfunded Commitment Liability		Unfunded Commitments		Fair Value of Unfunded Commitment Liability
Activehours, Inc.	$	10,000	$	41	$	10,000	$	—
Etched.ai, Inc.	10,000		350		—		—
Luxury Presence, Inc.	7,000		74		6,000		65
Karat Financial Technologies, Inc.	6,719		84		6,719		84
Cresta Intelligence, Inc.	5,000		16		—		—
Thoughtful Automation, Inc.	4,061		39		—		—
Haven Energy Inc.	2,700		14		—		—
Headout Inc.	2,649		20		—		—
Earth Funeral Group, Inc.	2,570		66		—		—
Planet A Foods GmbH	2,232		43		—		—
Panorama Education, Inc.	2,140		2		—		—
Join Digital, Inc.	2,100		41		—		—
Ocrolus Inc.	1,714		22		—		—
Overtime Sports, Inc.	1,143		8		1,143		8
Hover Inc.	1,000		14		—		—
Quantum Circuits, Inc.	1,000		10		—		—
Mirelo AI GmbH	926		18
Idelic, Inc.	400		4		1,200		7
Worldwide Freight Logistics Ltd.	268		4		345		10
Flashparking, Inc.	250		1		—		—
Ephemeral Solutions, Inc.	44		1		—		—
Dance GmbH	—		8		—		—
Encore Music Technologies, Inc.	—		2		—		1
Perry Health, Inc.	—		—		8,000		97
Ever/Body Inc.	—		—		6,200		102
Prose Beauty, Inc.	—		—		6,000		215
Machinify, Inc.	—		—		5,000		58
Placemakr, Inc.	—		—		5,000		168
JOKR	—		—		3,748		238
Parsable, Inc.	—		—		2,667		37
Firemaps, Inc.	—		—		2,000		43
FireHydrant, Inc.	—		—		1,200		29
McN Investments Ltd.	—		—		1,000		5
Pair Eyewear, Inc.	—		—		1,000		10
Substack, Inc.	—		—		1,000		13
Tempus Ex Machina, Inc.	—		—		1,000		—
Virtual Facility, Inc.	—		—		1,000		—
Highbeam, Inc.	—		—		813		10
Construction Finance Corporation	—		—		575		10
OnSiteIQ, Inc.	—		—		334		5
Forum Brands, LLC	—		—		147		5
Allplants LTD	—		—		102		4
Total	$	63,916	$	882	$	72,193	$	1,224

_______________

(1)As of September 30, 2024 and December 31, 2023, the Company did not have any backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

Schedule of Level 3 Commitment Liabilities

The following table shows additional details regarding the Company's unfunded commitment activity for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Commitments Activity (in thousands)	2024		2023		2024		2023
Unfunded commitments at beginning of period(1)	$	58,223	$	88,138	$	72,193	$	142,102
New commitments(1)	42,674		33,735		111,113		102,954
Fundings	(26,071)		(13,393)		(87,674)		(73,358)
Repayments under existing revolvers	—		10,874		—		11,116
Expirations / Terminations	(10,979)		(15,530)		(31,781)		(79,136)
Foreign currency adjustments	69		(24)		65		122
Unfunded commitments and backlog of potential future commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800
Backlog of potential future commitments	—		—		—		—
Unfunded commitments at end of period	$	63,916	$	103,800	$	63,916	$	103,800

_______________

(1)Includes backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

Schedule of Contractual Obligation, Fiscal Year Maturity

The following table shows additional information on the Company’s unfunded commitments regarding milestones and expirations as of September 30, 2024 and December 31, 2023:

Unfunded Commitments(1) (in thousands)	September 30, 2024		December 31, 2023
Dependent on milestones	$	44	$	6,300
Expiring during:
2024	20,431		64,331
2025	33,095		7,862
2026	10,390		—
Unfunded commitments	$	63,916	$	72,193

_______________

(1)Does not include backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.

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Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2024

Investment Company [Abstract]

Schedule of Financial Highlights

The following table shows the financial highlights for the nine months ended September 30, 2024 and 2023:

	For the Nine Months Ended September 30,
Financial Highlights (in thousands, except share and per share data)	2024			2023
Per Share Data(1)
Net asset value at beginning of period	$	12.24		$	14.00
Changes in net asset value due to:
Net investment income	1.15			1.61
Net realized gains/(losses) on investments	(0.39)			(0.92)
Net change in unrealized losses on investments	(0.28)			(0.44)
Distributions to common shareholders	(0.88)			(0.84)
Net asset value at end of period	$	11.84		$	13.41
Net investment income per common share	1.15			$	1.61
Net increase in net assets resulting from operations per common share	$	0.48		$	0.25
Weighted average shares of common stock outstanding for period	23,689,363			20,297,200
Shares of common stock outstanding at end of period	23,689,363			20,297,200
Ratios / Supplemental Data(2)
Net asset value at end of period	$	281,015		$	272,654
Average net asset value	$	288,786		$	284,094
Total return based on net asset value per share(3)	3.9		%	1.8		%
Net investment income to average net asset value(4)	12.7		%	15.4		%
Net increase in net assets to average net asset value(4)	5.3		%	2.4		%
Ratio of expenses to average net asset value(4)	9.6		%	9.7		%
Operating expenses excluding incentive fees to average net asset value(4)	9.6		%	9.7		%

_____________

(1)All per share activity is calculated based on the weighted average common shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.

(2)NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity.

(3)Total return based on NAV is the change in ending NAV per common share plus distributions per common share paid during the period by the beginning NAV per common share. Total return does not reflect sales charges that may be incurred by stockholders. The total return is for the period presented and is not annualized.

(4)Percentage is presented on an annualized basis.

The following table shows the weighted average portfolio yield on debt investments for the nine months ended September 30, 2024 and 2023:

	For the Nine Months Ended September 30,
Ratios (Percentages, on an annualized basis)(1)	2024		2023
Weighted average portfolio yield on debt investments(2)	15.4	%	16.4	%
Coupon income	11.7	%	12.7	%
Accretion of discount	1.1	%	1.3	%
Accretion of end-of-term payments	1.7	%	1.9	%
Impact of prepayments during the period	0.9	%	0.5	%

_____________

(1)Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.

(2)The weighted average portfolio yields on debt investments reflected above do not represent actual investment returns to the Company's shareholders.

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Net Increase in Net Assets per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table shows the computation of basic and diluted net increase (decrease) in net assets per common share for the periods presented:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Basic and Diluted Share Information (in thousands, except share and per share data)	2024		2023		2024		2023
Net investment income	$	8,054	$	10,326	$	27,361	$	32,655
Net increase (decrease) in net assets resulting from operations	2,931		$	6,798	11,367		5,116
Basic and diluted weighted average shares of common stock outstanding	23,689,363		20,297,200		23,689,363		20,297,200
Basic and diluted net investment income per share of common stock	$	0.34	$	0.51	$	1.15	$	1.61
Basic and diluted net increase (decrease) in net assets resulting from operations per share of common stock	$	0.12	$	0.33	$	0.48	$	0.25

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Common Distributions (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Dividends Declared

The following table shows the Company’s cash distributions per common share that have been authorized by the Board since commencement of operations to September 30, 2024:

Date Declared	Record Date	Payment Date	Per Share Amount
November 12, 2020	November 13, 2020	November 20, 2020	$	0.15
December 21, 2020	December 22, 2020	December 30, 2020	0.30
December 21, 2020	December 22, 2020	December 30, 2020	0.14		(1)
May 12, 2021	May 13, 2021	May 19, 2021	0.30
August 11, 2021	August 13, 2021	August 27, 2021	0.30
October 29, 2021	November 1, 2021	November 12, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.30
December 8, 2021	December 10, 2021	December 29, 2021	0.10		(2)
April 28, 2022	May 13, 2022	May 19, 2022	0.33
July 26, 2022	August 5, 2022	August 26, 2022	0.40
October 28, 2022	November 1, 2022	November 11, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.40
December 9, 2022	December 15, 2022	December 30, 2022	0.10		(2)
April 27, 2023	May 12, 2023	May 19, 2023	0.42
July 27, 2023	August 4, 2023	August 25, 2023	0.42
October 27, 2023	October 30, 2023	November 15, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.47
December 5, 2023	December 12, 2023	December 29, 2023	0.12		(2)
April 25, 2024	April 29, 2024	May 17, 2024	0.47
August 1, 2024	August 5, 2024	August 23, 2024	0.41
		Total cash distributions	$	6.30

_____________

(1)Represents a special distribution sourced from net realized short-term capital gains.

(2)Represents a special distribution sourced from net investment income.

XML

Organization (Details)	Sep. 30, 2024 subsidiary
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of subsidiaries	2

XML

Related Party Agreements and Transactions - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) component	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) component	Sep. 30, 2023 USD ($)
Related Party Transaction [Line Items]
Administration agreement expenses | $	$ 500	$ 517	$ 1,672	$ 1,482
Investment Management Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Number of components | component	2		2
Advisory Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Base management fee percentage			1.75%
Investment Management Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			20.00%
Investment Management Agreement - Incentive Rate, Quarterly Hurdle Rate | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			2.00%
Investment Management Agreement - Incentive Rate, Annualized Hurdle Rate | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			8.00%
Investment Management Agreement - Incentive Rate, Quarterly Catch-Up Threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			2.50%
Investment Management Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income Exceeds Catch-Up Threshold | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			20.00%
Investment Management Agreement - Incentive Rate, Realized Capital Gains, Net | Affiliated Entity
Related Party Transaction [Line Items]
Incentive fee percentage			20.00%

XML

Related Party Agreements and Transactions - Schedule of Management and Incentive Fees (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transactions [Abstract]
Base management fee	$ 1,552	$ 1,378	$ 4,647	$ 4,089
Income incentive fee	0	0	0	0
Capital gains incentive fee	$ 0	$ 0	$ 0	$ 0

XML

Investments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Investments [Abstract]
Percent of the investment portfolio that will receive valuation recommendations from a third party valuation firm each quarter			25.00%
Period from date of investment when each new portfolio investment will be reviewed by a third party valuation firm			12 months
Investment holdings percent of gross assets where third party valuation is not required (less than)			1.00%
Aggregated investment holdings percent of gross assets where third party valuation is not required			10.00%
Net realized losses on investments	$ 2,342	$ 175	$ 9,321	$ 18,700
Net change in unrealized losses on investments	$ 2,800	$ 3,400	$ 6,700	$ 8,800

XML

Investments - Investments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments	[1]	$ 380,841	[2],[3]	$ 400,195	[4],[5]
Derivative instruments		(393)		(430)
Total investments, including derivative instruments		380,448		399,765
Debt Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		346,056		375,025
Warrant Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		18,313		16,915
Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		16,472		8,255
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Derivative instruments		0		0
Total investments, including derivative instruments		0		0
Level 1 | Debt Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 1 | Warrant Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 1 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Derivative instruments		(393)		(430)
Total investments, including derivative instruments		(393)		(430)
Level 2 | Debt Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 2 | Warrant Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 2 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		0		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		380,841		400,195
Derivative instruments		0		0
Total investments, including derivative instruments		380,841		400,195
Level 3 | Debt Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		346,056		375,025
Level 3 | Warrant Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		18,313		16,915
Level 3 | Equity Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total portfolio company investments		$ 16,472		$ 8,255

[1] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[2] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[3] Value as a percentage of net assets.

[4] Non-income producing investments.

[5] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

XML

Investments - Rollforward of Level 3 Investments Measured at Fair Value (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	$ 400,196	$ 441,369
Funding and purchases of investments, at cost	90,643	74,616
Principal payments and sale proceeds received from investments	(99,872)	(67,533)
Transfers between investments	0
Gross transfers out of Level 3	0	0
Fair value, ending balance	$ 380,841	$ 427,776
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net change in unrealized losses on investments	Net change in unrealized losses on investments
Net change in unrealized gains (losses) on Level 3 investments held	$ (8,089)	$ (15,325)
Amortization and accretion of premiums and discounts, net and end-of term payments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	$ 4,430	$ 4,663
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest expense and amortization of fees	Interest expense and amortization of fees
Realized losses on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	$ (10,637)	$ (19,759)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net realized losses on investments	Net realized losses on investments
Net change in unrealized gains (losses) included in earnings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	$ (6,710)	$ (9,145)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net change in unrealized losses on investments	Net change in unrealized losses on investments
Payment-in-kind coupon
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	$ 2,791	$ 3,565
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest income from investments	Interest income from investments
Debt Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	$ 375,026	$ 413,558
Funding and purchases of investments, at cost	84,752	72,064
Principal payments and sale proceeds received from investments	(99,168)	(67,533)
Transfers between investments	(4,788)
Gross transfers out of Level 3	0	0
Fair value, ending balance	346,056	401,406
Net change in unrealized gains (losses) on Level 3 investments held	(8,076)	(13,008)
Debt Investments | Amortization and accretion of premiums and discounts, net and end-of term payments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	4,430	4,663
Debt Investments | Realized losses on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	(10,572)	(18,083)
Debt Investments | Net change in unrealized gains (losses) included in earnings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	(6,415)	(6,828)
Debt Investments | Payment-in-kind coupon
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	2,791	3,565
Warrant Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	16,913	18,445
Funding and purchases of investments, at cost	2,500	1,772
Principal payments and sale proceeds received from investments	(704)	0
Transfers between investments	(27)
Gross transfers out of Level 3	0	0
Fair value, ending balance	18,313	17,285
Net change in unrealized gains (losses) on Level 3 investments held	(22)	(1,756)
Warrant Investments | Amortization and accretion of premiums and discounts, net and end-of term payments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	0	0
Warrant Investments | Realized losses on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	(65)	(1,176)
Warrant Investments | Net change in unrealized gains (losses) included in earnings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	(304)	(1,756)
Warrant Investments | Payment-in-kind coupon
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	0	0
Equity Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning balance	8,257	9,366
Funding and purchases of investments, at cost	3,391	780
Principal payments and sale proceeds received from investments	0	0
Transfers between investments	4,815
Gross transfers out of Level 3	0	0
Fair value, ending balance	16,472	9,085
Net change in unrealized gains (losses) on Level 3 investments held	9	(561)
Equity Investments | Amortization and accretion of premiums and discounts, net and end-of term payments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	0	0
Equity Investments | Realized losses on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	0	(500)
Equity Investments | Net change in unrealized gains (losses) included in earnings
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	9	(561)
Equity Investments | Payment-in-kind coupon
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gain (loss) included in earnings	0	0
Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gross transfers out of Level 3	$ 0	$ 0

XML

Investments - Quantitative Information About the Level 3 Fair Value Measurements (Details) $ in Thousands		Sep. 30, 2024 USD ($) year		Dec. 31, 2023 USD ($) year
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	[1]	$ 380,841	[2],[3]	$ 400,195	[4],[5]
Debt Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		346,056		375,025
Warrant Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		18,313		16,915
Equity Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		16,472		8,255
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		380,841		400,195
Level 3 | Debt Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		346,056		375,025
Level 3 | Debt Investments | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 338,366		$ 366,489
Level 3 | Debt Investments | Discounted Cash Flows | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.1143		0.1171
Level 3 | Debt Investments | Discounted Cash Flows | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.4244		0.4409
Level 3 | Debt Investments | Discounted Cash Flows | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.1896		0.1976
Level 3 | Debt Investments | Probability-Weighted Expected Return Method
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 7,690		$ 8,536
Level 3 | Debt Investments | Probability-Weighted Expected Return Method | Minimum | Probability Weighting of Alternative Outcomes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0000		0.3000
Level 3 | Debt Investments | Probability-Weighted Expected Return Method | Maximum | Probability Weighting of Alternative Outcomes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		1.0000		1.0000
Level 3 | Debt Investments | Probability-Weighted Expected Return Method | Weighted Average | Probability Weighting of Alternative Outcomes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.8077		0.7226
Level 3 | Warrant Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 18,313		$ 16,915
Level 3 | Warrant Investments | Black Scholes Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 18,313		$ 16,915
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Minimum | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.4		0.18
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Minimum | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.3500		0.4500
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Minimum | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		0.50		0.50
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Minimum | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0017		0.0017
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Maximum | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		56.9		56.9
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Maximum | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.8500		0.9000
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Maximum | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		5.50		5.50
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Maximum | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0487		0.0503
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Weighted Average | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		5.55		6.91
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Weighted Average | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.6211		0.6507
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Weighted Average | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		3.38		3.47
Level 3 | Warrant Investments | Black Scholes Option Pricing Model | Weighted Average | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0289		0.0293
Level 3 | Equity Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 16,472		$ 8,255
Level 3 | Equity Investments | Black Scholes Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value		$ 16,472		$ 8,255
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Minimum | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.7		1.09
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Minimum | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.5000		0.5000
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Minimum | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		1.75		1.75
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Minimum | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0046		0.0046
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Maximum | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		11		14
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Maximum | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.8500		0.8500
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Maximum | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		4.00		4.00
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Maximum | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0486		0.0486
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Weighted Average | Revenue Multiples
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		2.38		4.94
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Weighted Average | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.5767		0.5960
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Weighted Average | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | year		3.11		3.28
Level 3 | Equity Investments | Black Scholes Option Pricing Model | Weighted Average | Risk Free Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input		0.0331		0.0304

[1] All investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).

[2] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of September 30, 2024, the Company’s portfolio company investments that were subject to restrictions on sales totaled $380.8 million at fair value and represented 135.5% of the Company’s net assets. In addition, unless otherwise indicated, as of September 30, 2024, all investments are pledged as collateral as part of the Company’s revolving credit facility.

[3] Value as a percentage of net assets.

[4] Non-income producing investments.

[5] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2023, the Company’s portfolio company investments that were subject to restrictions on sales totaled $400.2 million at fair value and represented 137.7% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2023, all investments are pledged as collateral as part of the Company’s revolving credit facility.

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Investments - Fair Value and Location of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Foreign currency forward contracts	$ 0	$ 0
Foreign currency forward contracts	(393)	(430)
Not Designated as Hedging Instrument
Derivative [Line Items]
Foreign currency forward contracts	(393)
Foreign currency forward contracts		(430)
Not Designated as Hedging Instrument | Other accrued expenses and liabilities | Foreign currency forward contracts
Derivative [Line Items]
Foreign currency forward contracts	(393)
Foreign currency forward contracts		(430)
Not Designated as Hedging Instrument | Prepaid expenses and other assets | Foreign currency forward contracts
Derivative [Line Items]
Foreign currency forward contracts	$ 0
Foreign currency forward contracts		$ 0

XML

Investments - Gains and Losses on Derivative Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Net realized and unrealized gains and losses on derivative instruments	$ (632)	$ 198	$ (481)	$ 198
Foreign currency forward contracts | Net realized losses on investments
Derivative [Line Items]
Net realized and unrealized gains and losses on derivative instruments	(302)	0	(518)	0
Foreign currency forward contracts | Net change in unrealized losses on investments
Derivative [Line Items]
Net realized and unrealized gains and losses on derivative instruments	$ (330)	$ 198	$ 37	$ 198

XML

Investments - Offsetting of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Offsetting Assets [Line Items]
Derivative Assets Subject to Master Netting Agreement	$ 0	$ 0
Derivatives Available for Offset	0	0
Non-cash Collateral Received	0	0
Cash Collateral Received	0	0
Net Amount of Derivative Assets	0	0
Derivative Liabilities Subject to Master Netting Agreement	(393)	(430)
Derivatives Available for Offset	0	0
Non-cash Collateral Received	0	0
Cash Collateral Received	0	0
Derivative instruments	(393)	(430)
Zions Bancorporation, N.A.
Offsetting Assets [Line Items]
Derivative Assets Subject to Master Netting Agreement	0	0
Derivatives Available for Offset	0	0
Non-cash Collateral Received	0	0
Cash Collateral Received	0	0
Net Amount of Derivative Assets	0	0
Derivative Liabilities Subject to Master Netting Agreement	(393)	(430)
Derivatives Available for Offset	0	0
Non-cash Collateral Received	0	0
Cash Collateral Received	0	0
Derivative instruments	$ (393)	$ (430)

XML

Borrowings - Schedule of Debt (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total Commitment	$ 325,000,000	$ 325,000,000
Balance Outstanding	155,500,000	162,500,000
Unused Commitment	169,500,000	162,500,000
2027 Notes | 2027 Notes
Debt Instrument [Line Items]
Total Commitment	75,000,000	75,000,000
Balance Outstanding	75,000,000	75,000,000
Unused Commitment	0	0
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Total Commitment	250,000,000.0	250,000,000
Balance Outstanding	80,500,000	87,500,000
Unused Commitment	$ 169,500,000	$ 162,500,000

XML

Borrowings - Schedule of Interest Expense and Amortization Fees (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Amortization of costs and other fees			$ 865	$ 1,182
Total interest expense and amortization of fees	$ 4,536	$ 4,463	12,163	12,703
2027 Notes | 2027 Notes
Debt Instrument [Line Items]
Interest cost	1,099	1,099	3,296	3,296
Amortization of costs and other fees	47	44	139	129
Total interest expense and amortization of fees	1,146	1,143	3,435	3,425
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Interest cost	2,909	2,501	7,344	7,414
Unused fee	226	280	635	809
Amortization of costs and other fees	255	539	749	1,055
Total interest expense and amortization of fees	$ 3,390	$ 3,320	$ 8,728	$ 9,278

XML

Borrowings - Narrative (Details)		3 Months Ended		9 Months Ended
	Apr. 06, 2022 USD ($)	Sep. 30, 2024 USD ($) lender	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) lender	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Commitments available, net		$ 325,000,000		$ 325,000,000		$ 325,000,000
Revolving credit facility		80,500,000		80,500,000		87,500,000
Deferred credit facility costs		2,261,000		2,261,000		2,988,000
Fair value of the reporting date		154,493,000		154,493,000		158,833,000
Level 3
Debt Instrument [Line Items]
Fair value of the reporting date		154,493,000		154,493,000		158,833,000
2027 Notes | Unsecured Debt
Debt Instrument [Line Items]
Face amount	$ 75,000,000.0
Interest rate	5.86%
2027 Notes | 2027 Notes
Debt Instrument [Line Items]
Commitments available, net		75,000,000		75,000,000		75,000,000
Aggregate principal balance, secured status threshold	$ 25,000,000
Asset coverage ratio, minimum	1.50
Interest coverage ratio, minimum	1.25
Minimum stockholders' equity balance	$ 142,800,000
Upward adjustment, percent of issuance proceeds	65.00%
Deferred issuance costs		500,000		500,000		600,000
Debt term	5 years
Fair value of the reporting date		73,993,000		73,993,000		71,333,000
2027 Notes | 2027 Notes | Level 3
Debt Instrument [Line Items]
Fair value of the reporting date		73,993,000		73,993,000		71,333,000
2027 Notes | 2027 Notes | Internal Noninvestment Grade
Debt Instrument [Line Items]
Interest rate	6.86%
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Commitments available, net		$ 250,000,000.0		$ 250,000,000.0		250,000,000
Number of lenders | lender		4		4
Accordion feature, higher borrowing capacity option		$ 400,000,000.0		$ 400,000,000.0
Advance rate				55.00%
Debt instrument, variable interest rate, type flag				Secured Overnight Financing Rate (SOFR) [Member]
Basis spread on variable rate				0.50%
Revolving credit facility		80,500,000		$ 80,500,000		87,500,000
Deferred credit facility costs		2,300,000		2,300,000		3,000,000
Credit facility, average outstanding borrowings		$ 72,800,000	$ 103,900,000	$ 82,800,000	$ 107,800,000
Credit facility, average interest rate		8.45%	8.59%	8.53%	8.24%
Assets pledged as collateral		$ 237,900,000		$ 237,900,000		255,000,000.0
Fair value of the reporting date		80,500,000		80,500,000		87,500,000
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Level 3
Debt Instrument [Line Items]
Fair value of the reporting date		$ 80,500,000		$ 80,500,000		$ 87,500,000
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Revolving Period
Debt Instrument [Line Items]
Basis spread on variable rate				3.25%
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Amortization Period
Debt Instrument [Line Items]
Basis spread on variable rate				4.25%

XML

Borrowings - Schedule of Debt Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total	$ 154,493	$ 158,833
Level 1
Debt Instrument [Line Items]
Total	0	0
Level 2
Debt Instrument [Line Items]
Total	0	0
Level 3
Debt Instrument [Line Items]
Total	154,493	158,833
2027 Notes | 2027 Notes
Debt Instrument [Line Items]
Total	73,993	71,333
2027 Notes | Level 1 | 2027 Notes
Debt Instrument [Line Items]
Total	0	0
2027 Notes | Level 2 | 2027 Notes
Debt Instrument [Line Items]
Total	0	0
2027 Notes | Level 3 | 2027 Notes
Debt Instrument [Line Items]
Total	73,993	71,333
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Total	80,500	87,500
Revolving Credit Facility | Revolving Credit Facility | Level 1 | Revolving Credit Facility
Debt Instrument [Line Items]
Total	0	0
Revolving Credit Facility | Revolving Credit Facility | Level 2 | Revolving Credit Facility
Debt Instrument [Line Items]
Total	0	0
Revolving Credit Facility | Revolving Credit Facility | Level 3 | Revolving Credit Facility
Debt Instrument [Line Items]
Total	$ 80,500	$ 87,500

XML

Commitments and Contingencies - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($) company	Dec. 31, 2023 USD ($) company	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Totaled of unfunded commitments	$ 63,916	$ 72,193	$ 103,800
Number of portfolio companies | company	21	25
Unavailable commitments due to milestone restrictions	$ 44	$ 6,300
Backlog of potential future commitments	$ 0	$ 0	$ 0

XML

Commitments and Contingencies - Unfunded Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	$ 63,916	$ 72,193	$ 103,800
Fair Value of Unfunded Commitment Liability	882	1,224
Investment, Identifier [Axis]: Activehours, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	10,000	10,000
Fair Value of Unfunded Commitment Liability	41	0
Investment, Identifier [Axis]: Allplants LTD
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	102
Fair Value of Unfunded Commitment Liability	0	4
Investment, Identifier [Axis]: Construction Finance Corporation
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	575
Fair Value of Unfunded Commitment Liability	0	10
Investment, Identifier [Axis]: Cresta Intelligence, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	5,000	0
Fair Value of Unfunded Commitment Liability	16	0
Investment, Identifier [Axis]: Dance GmbH
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	0
Fair Value of Unfunded Commitment Liability	8	0
Investment, Identifier [Axis]: Earth Funeral Group, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,570	0
Fair Value of Unfunded Commitment Liability	66	0
Investment, Identifier [Axis]: Encore Music Technologies, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	0
Fair Value of Unfunded Commitment Liability	2	1
Investment, Identifier [Axis]: Ephemeral Solutions, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	44	0
Fair Value of Unfunded Commitment Liability	1	0
Investment, Identifier [Axis]: Etched.ai, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	10,000	0
Fair Value of Unfunded Commitment Liability	350	0
Investment, Identifier [Axis]: Ever/Body Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	6,200
Fair Value of Unfunded Commitment Liability	0	102
Investment, Identifier [Axis]: FireHydrant, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,200
Fair Value of Unfunded Commitment Liability	0	29
Investment, Identifier [Axis]: Firemaps, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	2,000
Fair Value of Unfunded Commitment Liability	0	43
Investment, Identifier [Axis]: Flashparking, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	250	0
Fair Value of Unfunded Commitment Liability	1	0
Investment, Identifier [Axis]: Forum Brands, LLC
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	147
Fair Value of Unfunded Commitment Liability	0	5
Investment, Identifier [Axis]: Haven Energy Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,700	0
Fair Value of Unfunded Commitment Liability	14	0
Investment, Identifier [Axis]: Headout Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,649	0
Fair Value of Unfunded Commitment Liability	20	0
Investment, Identifier [Axis]: Highbeam, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	813
Fair Value of Unfunded Commitment Liability	0	10
Investment, Identifier [Axis]: Hover Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	1,000	0
Fair Value of Unfunded Commitment Liability	14	0
Investment, Identifier [Axis]: Idelic, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	400	1,200
Fair Value of Unfunded Commitment Liability	4	7
Investment, Identifier [Axis]: JOKR
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	3,748
Fair Value of Unfunded Commitment Liability	0	238
Investment, Identifier [Axis]: Join Digital, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,100	0
Fair Value of Unfunded Commitment Liability	41	0
Investment, Identifier [Axis]: Karat Financial Technologies, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	6,719	6,719
Fair Value of Unfunded Commitment Liability	84	84
Investment, Identifier [Axis]: Luxury Presence, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	7,000	6,000
Fair Value of Unfunded Commitment Liability	74	65
Investment, Identifier [Axis]: Machinify, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	5,000
Fair Value of Unfunded Commitment Liability	0	58
Investment, Identifier [Axis]: McN Investments Ltd.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,000
Fair Value of Unfunded Commitment Liability	0	5
Investment, Identifier [Axis]: Mirelo AI GmbH
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	926
Fair Value of Unfunded Commitment Liability	18
Investment, Identifier [Axis]: Ocrolus Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	1,714	0
Fair Value of Unfunded Commitment Liability	22	0
Investment, Identifier [Axis]: OnSiteIQ, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	334
Fair Value of Unfunded Commitment Liability	0	5
Investment, Identifier [Axis]: Overtime Sports, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	1,143	1,143
Fair Value of Unfunded Commitment Liability	8	8
Investment, Identifier [Axis]: Pair Eyewear, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,000
Fair Value of Unfunded Commitment Liability	0	10
Investment, Identifier [Axis]: Panorama Education, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,140	0
Fair Value of Unfunded Commitment Liability	2	0
Investment, Identifier [Axis]: Parsable, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	2,667
Fair Value of Unfunded Commitment Liability	0	37
Investment, Identifier [Axis]: Perry Health, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	8,000
Fair Value of Unfunded Commitment Liability	0	97
Investment, Identifier [Axis]: Placemakr, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	5,000
Fair Value of Unfunded Commitment Liability	0	168
Investment, Identifier [Axis]: Planet A Foods GmbH
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	2,232	0
Fair Value of Unfunded Commitment Liability	43	0
Investment, Identifier [Axis]: Prose Beauty, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	6,000
Fair Value of Unfunded Commitment Liability	0	215
Investment, Identifier [Axis]: Quantum Circuits, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	1,000	0
Fair Value of Unfunded Commitment Liability	10	0
Investment, Identifier [Axis]: Substack, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,000
Fair Value of Unfunded Commitment Liability	0	13
Investment, Identifier [Axis]: Tempus Ex Machina, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,000
Fair Value of Unfunded Commitment Liability	0	0
Investment, Identifier [Axis]: Thoughtful Automation, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	4,061	0
Fair Value of Unfunded Commitment Liability	39	0
Investment, Identifier [Axis]: Virtual Facility, Inc.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	0	1,000
Fair Value of Unfunded Commitment Liability	0	0
Investment, Identifier [Axis]: Worldwide Freight Logistics Ltd.
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unfunded Commitments	268	345
Fair Value of Unfunded Commitment Liability	$ 4	$ 10

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Commitments and Contingencies - Level 3 Changes of Unfunded Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Backlog of potential future commitments	$ 0	$ 0	$ 0	$ 0	$ 0
Unfunded commitments at end of period	63,916	103,800	63,916	103,800	$ 72,193
Unfunded Commitments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Unfunded commitments at beginning of period	58,223	88,138	72,193	142,102
New commitments	42,674	33,735	111,113	102,954
Fundings	(26,071)	(13,393)	(87,674)	(73,358)
Repayments under existing revolvers	0	10,874	0	11,116
Expirations / Terminations	(10,979)	(15,530)	(31,781)	(79,136)
Foreign currency adjustments	69	(24)	65	122
Unfunded commitments and backlog of potential future commitments at end of period	$ 63,916	$ 103,800	$ 63,916	$ 103,800

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Commitments and Contingencies - Expiring Unfunded Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Expiring during:
2024	$ 20,431	$ 64,331
2025	33,095	7,862
2026	10,390	0
Unfunded commitments at end of period	63,916	72,193	$ 103,800
Unfunded Commitments
Financial Support for Nonconsolidated Legal Entity [Line Items]
Dependent on milestones	$ 44	$ 6,300

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Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands																	3 Months Ended		9 Months Ended		38 Months Ended
	Aug. 01, 2024	Apr. 25, 2024	Dec. 05, 2023	Oct. 27, 2023	Jul. 27, 2023	Apr. 27, 2023	Dec. 09, 2022	Oct. 28, 2022	Jul. 26, 2022	Apr. 28, 2022	Dec. 08, 2021	Oct. 29, 2021	Aug. 11, 2021	May 12, 2021	Dec. 21, 2020	Nov. 12, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Per Share Data
Net asset value, beginning of period (in dollars per share)																			$ 12.24	$ 14.00
Changes in net asset value due to:
Net investment income (in dollars per share)																			1.15	1.61
Net realized gains/(losses) on investments (in dollars per share)																			(0.39)	(0.92)
Net change in unrealized losses on investments (in dollars per share)																			(0.28)	(0.44)
Distributions to common shareholders (in dollars per share)	$ (0.41)	$ (0.47)	$ (0.47)	$ (0.47)	$ (0.42)	$ (0.42)	$ (0.40)	$ (0.40)	$ (0.40)	$ (0.33)	$ (0.30)	$ (0.30)	$ (0.30)	$ (0.30)	$ (0.30)	$ (0.15)			(0.88)	(0.84)	$ (6.30)
Net asset value, end of period (in dollars per share)																	$ 11.84	$ 13.41	11.84	13.41	$ 12.24
Net increase in net assets resulting from operations per common share (in dollars per share)																	$ 0.12	$ 0.33	$ 0.48	$ 0.25
Weighted average shares of common stock outstanding for period, basic (in shares)																	23,689,363	20,297,200	23,689,363	20,297,200
Weighted average shares of common stock outstanding for period, diluted (in shares)																	23,689,363	20,297,200	23,689,363	20,297,200
Shares of common stock outstanding at end of period (in shares)																	23,689,363	20,297,200	23,689,363	20,297,200	23,689,363
Ratios / Supplemental Data
Net asset value at end of period																	$ 281,015	$ 272,654	$ 281,015	$ 272,654	$ 290,542	$ 287,812	$ 274,396	$ 284,635
Average net asset value																			$ 288,786	$ 284,094
Total return based on net asset value per share																			3.90%	1.80%
Net investment income to average net asset value																			12.70%	15.40%
Net increase in net assets to average net asset value																			5.30%	2.40%
Ratio of expenses to average net asset value																			9.60%	9.70%
Operating expenses excluding incentive fees to average net asset value																			9.60%	9.70%

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Financial Highlights - Weighted-Average Yield (Details)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Investment Company [Abstract]
Weighted average portfolio yield on debt investments	15.40%	16.40%
Coupon income	11.70%	12.70%
Accretion of discount	1.10%	1.30%
Accretion of end-of-term payments	1.70%	1.90%
Impact of prepayments during the period	0.90%	0.50%

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Net Increase in Net Assets per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net investment income	$ 8,054	$ 10,326	$ 27,361	$ 32,655
Net increase (decrease) in net assets resulting from operations	$ 2,931	$ 6,798	$ 11,367	$ 5,116
Weighted average shares of common stock outstanding, Basic (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Weighted average shares of common stock outstanding, Diluted (in shares)	23,689,363	20,297,200	23,689,363	20,297,200
Basic net investment income per share of common stock (in dollars per share)	$ 0.34	$ 0.51	$ 1.15	$ 1.61
Diluted net investment income per share of common stock (in dollars per share)	0.34	0.51	1.15	1.61
Basic and diluted net increase (decrease) in net assets resulting from operations per share of common stock (in dollars per share)	$ 0.12	$ 0.33	$ 0.48	$ 0.25

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Equity - (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Common stock issued (in shares)	0	0	0	0
Common stock outstanding (in shares)	23,689,363	20,297,200	23,689,363	20,297,200	23,689,363
Preferred stock, shares outstanding (in shares)	525		525		525
Common stock
Class of Stock [Line Items]
Common stock outstanding (in shares)	23,689,363		23,689,363		23,689,363
Capital commitments			$ 386.8
Called investments			$ 354.7

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Common Distributions - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Excise tax payable	$ 0.6	$ 0.3

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Common Distributions - Schedule of Distributions (Details) - $ / shares																	9 Months Ended		38 Months Ended
	Aug. 01, 2024	Apr. 25, 2024	Dec. 05, 2023	Oct. 27, 2023	Jul. 27, 2023	Apr. 27, 2023	Dec. 09, 2022	Oct. 28, 2022	Jul. 26, 2022	Apr. 28, 2022	Dec. 08, 2021	Oct. 29, 2021	Aug. 11, 2021	May 12, 2021	Dec. 21, 2020	Nov. 12, 2020	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Equity [Abstract]
Distributions from distributable earnings (in dollars per share)	$ 0.41	$ 0.47	$ 0.47	$ 0.47	$ 0.42	$ 0.42	$ 0.40	$ 0.40	$ 0.40	$ 0.33	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.30	$ 0.15	$ 0.88	$ 0.84	$ 6.30
Special distribution sourced from net realized short-term capital gains (in dollars per share)															$ 0.14
Special distribution sourced from net investment income (in dollars per share)			$ 0.12				$ 0.10				$ 0.10

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Subsequent Events (Details)	Oct. 31, 2024 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.41