XML 23 R16.htm IDEA: XBRL DOCUMENT v3.24.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

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, 2023 and 2022, the Company had the following commitments to fund investments in current portfolio companies:

 

 

December 31, 2023

 

 

December 31, 2022

 

Alaska Bidco Oy - Delayed Draw & Revolver

 

$

231

 

 

$

—

 

Arrow Buyer, Inc. - Delayed Draw

 

 

28,125

 

 

 

—

 

Artisan Bidco, Inc - Revolver

 

 

21,283

 

 

 

—

 

Avalara, Inc. - Revolver

 

 

13,636

 

 

 

13,636

 

Banyan Software Holdings, LLC - Delayed Draw

 

 

20,073

 

 

 

—

 

BCTO Bluebill Buyer, Inc. - Delayed Draw

 

 

1,325

 

 

 

—

 

BTRS Holdings, Inc. - Delayed Draw & Revolver

 

 

16,689

 

 

 

25,915

 

Coupa Holdings, LLC - Delayed Draw & Revolver

 

 

20,427

 

 

 

—

 

Crewline Buyer, Inc. - Revolver & Partnership Interest

 

 

20,809

 

 

 

—

 

Disco Parent, Inc. - Revolver

 

 

5,776

 

 

 

—

 

Edge Bidco B.V. - Delayed Draw & Revolver

 

 

1,060

 

 

 

—

 

Erling Lux Bidco SARL - Delayed Draw & Revolver

 

 

3,184

 

 

 

5,618

 

Fullsteam Operations, LLC - Delayed Draw & Revolver

 

 

31,239

 

 

 

—

 

Galileo Parent, Inc. - Revolver

 

 

15,817

 

 

 

—

 

Hirevue, Inc. - Revolver

 

 

14,113

 

 

 

—

 

Hornetsecurity Holding GmbH - Delayed Draw & Revolver

 

 

2,113

 

 

 

2,041

 

Kangaroo Bidco AS - Delayed Draw

 

 

53,817

 

 

 

—

 

Laramie Energy, LLC - Delayed Draw

 

 

27,439

 

 

 

—

 

OutSystems Luxco SARL - Delayed Draw

 

 

2,212

 

 

 

2,137

 

Ping Identity Holding Corp. - Revolver

 

 

13,636

 

 

 

13,636

 

Rapid Data GmbH Unternehmensberatung - Delayed Draw & Revolver

 

 

6,255

 

 

—

 

Skylark UK DebtCo - Delayed Draw

 

 

28,192

 

 

—

 

SL Buyer Corp - Delayed Draw

 

 

1,475

 

 

—

 

Wrangler TopCo, LLC - Revolver

 

 

9,576

 

 

—

 

Total Portfolio Company Commitments (1)(2)

 

$

358,502

 

 

$

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, 2023 and 2022, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.