Commitments and Contingencies

9 Months Ended

Dec. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

7. Commitments and Contingencies

Portfolio Company Commitments

From time to time, the Company may enter into commitments to fund investments; such commitments are incorporated into the Company’s assessment of its liquidity position. The Company’s senior secured revolving loan commitments are generally available on a borrower’s demand and may remain outstanding until the maturity date of the applicable loan. The Company’s senior secured delayed draw term loan commitments are generally available on a borrower’s demand and, once drawn, generally have the same remaining term as the associated loan agreement. Undrawn senior secured delayed draw term loan commitments generally have a shorter availability period than the term of the associated loan agreement.

As of December 31, 2022, the Company had the following commitments to fund investments in current portfolio companies:


	December 31, 2022
Avalara, Inc. - Revolver	$	13,636
BTRS Holdings, Inc. - Delayed Draw & Revolver		25,915
Erling Lux Bidco SARL - Delayed Draw & Revolver		5,618
Hornetsecurity Holding GmbH - Delayed Draw & Revolver		2,041
OutSystems Luxco SARL - Delayed Draw		2,137
Ping Identity Holding Corp. - Revolver		13,636
Total Portfolio Company Commitments (1)(2)	$	62,983

(1)

Represents the full amount of the Company’s commitments to fund investments on such date. Commitments may be subject to limitations on borrowings set forth in the agreements between the Company and the applicable portfolio company. As a result, portfolio companies may not be eligible to borrow the full commitment amount on such date.

(2)

The Company’s estimate of the fair value of the current investments in these portfolio companies includes an analysis of the fair value of any unfunded commitments.

Other Commitments and Contingencies

As of December 31, 2022 the Company did not have any unfunded commitments to fund investments to new borrowers that were not current portfolio companies as of such date.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of December 31, 2022 management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.