Trinity Capital originated $340.7 million of total new commitments in Q4/23, bringing the company’s total new commitments for 2023 to $830.7 million. Additionally, Trinity funded a company record $641.8 million of investments in 2023.
“We are delighted to announce a remarkable 2023 marked by strong originations and record fundings, a testament to our disciplined underwriting,” Kyle Brown, CEO of Trinity Capital, said. “Our exceptional relationships with portfolio companies and industry partners, coupled with a great team and culture, have been pivotal in achieving this performance, which translates to accretive returns for our shareholders.”
The $340.7 million of total new commitments Trinity Capital originated in Q4/23 were comprised of $140.3 million in secured loans, $200 million in equipment financings and $400,000 in equity investments. The company’s fourth quarter investments funded totaled approximately $267.4 million, which was comprised of $126.5 million in secured loans, $136.9 million in equipment financings and $4 million in warrant and equity investments.
During Q4/23, the company funded $220 million to six new portfolio companies, $47.1 million to 10 existing portfolio companies and $300,00 of investments in its JV. Proceeds received from repayments of the company’s debt investments during the fourth quarter totaled approximately $108.4 million, which included $42.9 from early debt repayments and refinancings, $40.9 million from normal amortization and $24.6 million from investments sold to the JV. Net portfolio growth from investment activity for the quarter was approximately $159.0 million. Trinity Capital also reported total assets under management as of Dec. 31, 2023, at more than $1 billion.
The $830.7 million of total new commitments Trinity Capital originated in 2023 were comprised of $505.7 million in secured loans, $317 million in equipment financings and $8 million in equity investments. Annual investments funded totaled approximately $641.8 million, which was comprised of $412.1 million in secured loans, $211 million in equipment financings and $18.7 million in warrant and equity investments.
During 2023, the company funded $403.4 million to 17 new portfolio companies, $227.4 million to 23 existing portfolio companies and $11 million of investments in the JV. Proceeds received from repayments of the company’s debt investments during the year totaled approximately $471.4 million, which included $170.8 from early debt repayments and refinancings, $159 million from investments sold to the JV and $141.6 million from normal amortization. Net portfolio growth from investment activity for 2023 was approximately $170.4 million.
