PHOENIX, Aug. 15,
2023 /PRNewswire/ -- Trinity Capital Inc.
(NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of
diversified financial solutions to growth-stage companies, today
announced the commitment of $20
million in growth capital to MacroFab, the comprehensive
manufacturing platform for building electronics from prototype to
high-scale production.
MacroFab oversees an impressive network of more than 100
factories throughout North
America. This infusion of capital follows their recent
equity raise earlier this year of $42
million, led by Foundry and joined by BMW i Ventures, Edison
Partners and ATX Venture Partners, bringing the total capital
raised by the company to $102
million.
"We recognize the immense potential of MacroFab's innovative
platform to completely transform the electronics manufacturing
landscape," said Ryan Thompson,
Managing Director, Tech Lending at Trinity. "We look forward to
partnering with their industry-leading team to drive this next
generation of technology forward."
The company's technology platform advances electronics
manufacturing by streamlining operations, improving efficiency and
offering unparalleled visibility into production. This investment
will enable the company to further advance its platform, expand
operations and accelerate revenue growth.
"This new financial partnership with Trinity signifies a bright
and promising future for MacroFab," said Phil Patman, Jr., Chief Financial Officer of
MacroFab. "With support from Trinity Capital, we will continue to
strengthen our position in the market and enhance our capacity to
deliver cutting-edge solutions to electronics manufacturers of all
sizes. Together, we are well-equipped to drive transformative
change within the electronics manufacturing industry."
About Trinity Capital Inc.
Trinity Capital
Inc. (Nasdaq: TRIN), an internally managed business
development company, is a leading provider of diversified financial
solutions to growth-stage companies with institutional equity
investors. Trinity Capital's investment objective is to
generate current income and, to a lesser extent, capital
appreciation through investments, including term loans and
equipment financings and equity-related investments. Trinity
Capital believes it is one of only a select group of specialty
lenders that has the depth of knowledge, experience and track
record in lending to growth stage companies. For more information,
please visit the Company's website at www.trinitycap.com.
About MacroFab
MacroFab operates the
largest technology platform for electronics manufacturing, offering
prototypes, high-volume production, and extended services through a
network of over 100 factories across North America. Serving as a trailblazer in EMS
manufacturing and digital supply chain solutions, MacroFab's robust
platform and marketplace foster efficient and expedient electronics
production, bringing manufacturing closer to the end user. By
leveraging AI-enabled sourcing opportunities, expert internal
teams, and a user-friendly platform, MacroFab delivers unmatched
efficiency and accessibility to the hardware tech community.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/trinity-capital-inc-provides-20-million-growth-capital-to-macrofab-301900276.html
SOURCE Trinity Capital Inc.