Trinity Capital announced certain highlights for the first half and second quarter of 2024. Trinity funded a record $474 million of investments in the first half of 2024 and originated $289 million of total new commitments in the second quarter, bringing total new commitments for the first half ended June 30, 2024, to $576 million.
"Trinity is executing across all of our strategies to deliver strong growth in 2024," said Kyle Brown, Chief Executive Officer of Trinity Capital. "Our five distinct business verticals — tech lending, equipment financing, life sciences, warehouse financing, and sponsor finance — have generated extraordinary momentum and we have expanded our operational footprint into Europe. We are seeing an increasing number of exceptional investment opportunities, and our team will continue to be highly selective with our investments."
First half 2024 investment highlights:
- The Company originated approximately $576 million of total new commitments, which was comprised of $387 million in secured loans, $182 million in equipment financings and $7 million in equity investments.
- Total investments funded surpassed $474 million, which was comprised of $291 million in secured loans, $168 million in equipment financings and $15 million in warrant and equity investments.
- The Company funded $349 million to 18 new portfolio companies, $111 million to 23 existing portfolio companies and $14 million of investments to off-balance-sheet vehicles.
- Proceeds received from repayments of the Company's investments totaled approximately $329 million, which included $83 million from early debt repayments and refinancings and $123 million from investments sold to off-balance-sheet vehicles.
Second quarter investment highlights:
- Trinity originated approximately $289 million of new commitments, which was comprised of $171 million in secured loans, $113 million in equipment financings and $5 million in equity investments.
- Q2 investments funded totaled approximately $231 million, which was comprised of $104 million in secured loans, $118 million in equipment financings and $9 million in warrant and equity investments.
- During the second quarter, the Company funded $134 million to 10 new portfolio companies, $90 million to 18 existing portfolio companies and $7 million of investments to off-balance-sheet vehicles.
- Proceeds received from repayments of the Company's investments during the second quarter totaled approximately $180 million, which included $40 million from early debt repayments and $68 million from investments sold to off-balance-sheet vehicles.
Readers may also read the ABL Advisor exclusive interview with Kyle Brown, CEO of Trinity Capital and Chris Erro, Senior Managing Director, Trinity Capital Sponsor Finance:
Trinity Capital Expands into the Sponsor Finance Vertical