Leading venture debt provider Trinity Capital Investment announced the recent launch of a third fund, Trinity Capital Investment Fund III, L.P. (Fund III), which is expected to provide an estimated $600 million of additional capital for deployment into high-growth venture capital-backed companies over the next few years.
Trinity’s second Small Business Investment Company (SBIC) license, Fund III is one of approximately 300 SBIC’s in the U.S. licensed by the Small Business Administration (SBA) to provide growth capital to U.S. small businesses, and receive long-term, fixed interest rate debt capital through the issuance of SBA-guaranteed debentures to complement equity invested by the fund’s limited partners.
“This new fund provides a long-term and stable source of capital for our team, allowing us to continue investing in the country’s most promising entrepreneurial companies,” said Steve Brown, founding partner at Trinity Capital Investment. “On behalf of Trinity, I am profoundly grateful to the SBA, our limited partners, and all of our industry stakeholders and partners who have contributed to our growth and success in the marketplace.”
In conjunction with this new fund, Trinity has appointed business development executive Kelli Fontaine as a director of the company. Fontaine brings a wealth of experience in business development, marketing and finance, and will be responsible for spearheading investment activities throughout the California Bay Area.
“I am pleased to welcome Kelli to the Trinity team and announce our first California-based hire,” commented Brown. “Her depth of industry knowledge and strategic vision, combined with her extensive network in the Bay Area, will make Kelli a great addition to the Trinity team and facilitate our growth in the nation’s leading region for venture capital and venture debt.”
Trinity has funded nearly $100 million of debt capital per year the past few years and expects to nearly double investment activities beginning in 2017. The company provides $2 million to $15 million of senior and subordinated venture loans, as well as equipment lease financing solutions to growing venture capital-backed companies. Trinity has existing inter-creditor and subordination agreements in place with all of the major technology bank lenders, and can quickly provide incremental debt capital to an existing senior debt facility.
High-growth venture capital-backed companies turn to Trinity Capital Investment (Trinity) as a preferred option for venture loans and equipment leases to fuel their growth and extend their runway. Since 2008, Trinity has worked closely with leading venture capital firms and their respective portfolio companies to offer valuable support, enhanced flexibility and competitive venture debt financing solutions to customers with distinctive needs.