2024-07-19 09:15:00 ET
Summary
- Trinity Capital is a BDC specializing in venture debt for growth-stage companies, with a $1.36B portfolio.
- Management has raised the quarterly dividend for 13 straight quarters.
- Q1 '24 earnings saw record total investment income and net investment income, with the CEO buying $50K worth of shares.
Rising rates walloped the tech sector in 2022, which led to venture capital investors becoming much more cautious in 2023, as VC fundraising dropped 56%:
However, BDCs, such as Trinity Capital ( TRIN ), have benefited from the Fed's rate-rising program as the majority of its debt investments have floating rates. TRIN's floating rate investments stood at 75.4%, as of 3/31/24:
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Trinity Capital: 14% Yield, Record Earnings, 13 Straight Hikes