Company originates $1.6
billion of new commitments in 2024
PHOENIX, Jan. 13,
2025 /PRNewswire/ -- Trinity
Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"),
a leading alternative asset manager, today announced a portfolio
update for the fourth quarter of 2024. Trinity funded $297 million of total investments in the fourth
quarter, putting Trinity at a record of $1.2
billion of fundings in 2024. Additionally, Trinity
originated $411 million of
investments in the fourth quarter of 2024, bringing total new
commitments for 2024 to $1.6
billion.
"We are very pleased with our team's outstanding performance in
2024," said Kyle Brown, Chief
Executive Officer of Trinity Capital. "This milestone year reflects
the strength of our unique business structure and the consistent
value we create for our investors and partners."
Fourth quarter investment highlights:
- Investments funded totaled approximately $297 million, which was comprised of $190 million in secured loans, $96 million in equipment financings and
$11 million in warrant and equity
investments.
- Trinity originated approximately $411
million of new commitments, which was comprised of
$231 million in secured loans,
$173 million in
equipment financings and $7
million in equity investments.
- The Company funded approximately $233
million to 9 new portfolio companies, $59 million to 15 existing portfolio companies
and $5 million of investments to
multi-sector holdings.
- Proceeds received from repayments and exits of the Company's
investments totaled approximately $281
million, which included $130
million from early debt repayments, $15 million from warrant and equity exits,
$59 million from scheduled/amortizing
debt payments and $77 million from
investments sold primarily to multi-sector holdings.
Full year 2024 investment highlights:
- Total investments funded was approximately $1.2 billion, which was comprised of $887 million in secured loans, $304 million in equipment financings and
$38 million in warrant and equity
investments.
- The Company originated approximately $1.6 billion of total new commitments, which was
comprised of $1.1 billion in secured
loans, $499 million in
equipment financings and $19
million in equity investments.
- The Company funded approximately $968
million to 39 new portfolio companies, $245 million to 28 existing portfolio companies
and $16 million of investments to
multi-sector holdings.
- Proceeds received from repayments and exits of the Company's
investments totaled approximately $808
million, which included $314
million from early debt repayments and refinancings,
$45 million from warrant and equity
exits, $207 million from
scheduled/amortizing debt payments and $242
million from investments sold primarily to multi-sector
holdings.
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international
alternative asset manager, aiming to provide investors with stable
and consistent returns through access to the private credit market.
We source, vet, and invest in dynamic privately funded
growth-oriented companies, giving our investors access to a strong
and diversified portfolio. With distinct business verticals,
Trinity Capital stands as a trusted partner for innovative
companies seeking tailored growth capital solutions. Headquartered
in Phoenix, Arizona, the firm has
an international footprint, supported by a dedicated team of
strategically located investment professionals. For more
information, visit the company's website
at trinitycapital.com and stay connected by following us
on LinkedIn and X (formerly Twitter).
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in filings with the Securities and Exchange Commission
("SEC"). The Company undertakes no duty to update any
forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release. More
information on risks and other potential factors that could affect
the Company's financial results, including important factors that
could cause actual results to differ materially from plans,
estimates or expectations, is included in the Company's filings
with the SEC, including in the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's most recently filed annual
report on Form 10-K and subsequent SEC filings.
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SOURCE Trinity Capital Inc.
