Business
Trinity Capital Inc. Launches New Strategic Partnership
PHOENIX, Ariz. and GREENWICH, Conn., July 23, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, Ariz. and GREENWICH, Conn., July 23, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) (\"Trinity\" or the \"Company\"), a leading provider of financing solutions to growth-stage companies, today announced that it has launched a new vehicle in partnership with Eagle Point Credit Management LLC (\"Eagle Point Credit\"). Trinity's wholly owned registered investment adviser will be an adviser to the new vehicle, thereby bolstering the Company's sources of capital for lending and generating non-capital intensive fee income.\n\n \n \n \n \n \n \n\n \nThe vehicle is being capitalized with an equity commitment of $60 million and has the ability to use leverage. It is intended for the vehicle to ultimately be converted into a private business development company (BDC).\n\"This new vehicle gives Trinity another source of capital to provide financing solutions to growth-stage companies, while driving fee income to Trinity and increasing value to our shareholders,\" said Kyle Brown, Chief Executive Officer at Trinity. \"We've worked closely with Eagle Point Credit over the past few years and have seen first-hand their thoughtful investment acumen and approach. We're very excited to expand our relationship with this new opportunity.\"\nThe vehicle is generally expected to invest ratably in opportunities originated by the Trinity platform, which has a 16-year track record and originations, underwriting, and portfolio management teams across five distinct verticals – tech lending, equipment finance, life sciences, warehouse lending, and sponsor finance. The vehicle will help fuel the deployment trajectory of Trinity, which saw record-breaking funding numbers during the first half of 2024.\n\"We are thrilled to expand on our partnership with such a strong growth-stage lender,\" said Thomas P. Majewski, Founder and Managing Partner at Eagle Point Credit. \"We have been impressed by Trinity's track record and view the Company as a key player in the growth lending space.\"\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. \nAbout Trinity Capital Inc.Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth stage companies with institutional equity investors. Trinity's investment objective...