Trinity Capital, a provider of diversified financial solutions to growth-stage companies, entered into an agreement to co-manage a newly formed joint venture, i40, (the JV), with funds and accounts managed by a specialist credit manager with more than $5 billion of assets under management. The JV will invest in loans and equipment financings to growth-stage companies that have been originated by Trinity.
The JV intends to enter a credit facility to leverage its assets in order to enhance returns and create additional deployment capacity. The initial capital commitment to the JV is $171.4 million, consisting of a $21.4 million commitment from Trinity and a $150 million commitment from funds and accounts managed by the specialist credit manager.
“As an internally managed BDC, we are highly focused on return on equity for investors and growth that is accretive to our shareholders. Joint venture partnering and similar arrangements are key to achieving that goal, and this joint venture is just the beginning. We expect this new joint venture to enable us to grow our portfolio in a non-dilutive fashion, expanding our investment income and deal flow,” Kyle Brown, president and chief investment officer at Trinity, said.
