Suro Capital Corp. · NASDAQ:SSSS
Suro Capital — Q1 2025 Earnings Presentation
16 slides from Suro Capital's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Earnings Call
Q1 2025 Earnings Call May 6, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements Statements included herein, including statements regarding SuRo Capital Corp.'s ("SuRo Capital", "SSSS", the “Company”, "we", "us" or "our") beliefs, expectations, intentions or strategies for the future, may constitute "forward-looking statements". SuRo Capital cautions y
Slide 3: Q1 2025 Earnings Overview
Q1 2025 Earnings Overview •1 SuRo Capital’s Net Asset Value (“NAV”) Per Share is $6.66 as of March 31, 2025 o Net Assets of approximately $156.8 million at quarter-end •2 Recent Portfolio Company Activity o CoreWeave, Inc.(1) – successfully executed IPO on March 28th o OpenAI Global, LLC(2) – announ
Slide 4: SuRo Capital Is The Public's Gateway To Venture Capital
SuRo Capital Is The Public’s Gateway To Venture Capital (1) SuRo Capital is a publicly traded, growth-stage venture (2) capital firm started in 2011, investing in a growing ARK Type One Deep portfolio of companies Ventures Fund LLC across many sectors including AI, Consumer, and Software Note: The l
Slide 5: Making Venture Capital Accessible
Making Venture Capital Accessible Investing in venture capital has been largely inaccessible to the average investor. We believe other access vehicles miss the mark. So why choose SuRo Capital? Become a venture capitalist. Join thousands of other Invest through almost any shareholders. brokerage acc
Slide 6: Investing In Quality Growth
Investing In Quality Growth We focus on quality. Our Price Insensitive SuRo Capital’s Stage of Business investment thesis is simple: Primary & Secondary Focus Investors we aim to invest in the highest quality founders building exciting and rapidly Early Stage growing businesses while Angels, Friends
Slide 7: SuRo Capital's Journey
SuRo Capital’s Journey We’ve executed on our strategy for over a decade. Throughout our history, we have invested in some of the world’s most valuable companies. (1) ARK Type One Deep Ventures Fund LLC SuRo Capital SuRo Capital SuRo Capital SuRo Capital invests $17.4 SuRo Capital invests $21.1 inves
Slide 8: Our Portfolio Has Evolved
Our Portfolio Has Evolved With a rigorous sourcing and investment process, we have evolved the portfolio. Our portfolio now includes some of the most valuable private companies in the world backed by some of the largest venture capital funds. Select Exited Portfolio Select Current Portfolio (1) (2)
Slide 9: SuRo Capital's Advantage Is Clear
SuRo Capital’s Advantage Is Clear 1 We have a robust sourcing process that allows Access to Private SuRo Capital to access opportunities that other Investments similarly positioned funds cannot 2 Our detailed investment process is focused not Rigorous Analysis only on simply accessing opportunities,
Slide 10: Top Positions = 46% of Investment Portfolio at Fair Value
Top 5 Positions = 46% of Investment Portfolio at Fair Value Based on Total Investment Portfolio Fair Value of $213.6 million at March 31, 2025 Cost Basis Fair Value % of Investment Portfolio Company ($ in millions) ($ in millions) Portfolio ARK Type One Deep (1) 1 Ventures Fund LLC $17.7 $27.8 13.0%
Slide 11: Recent Portfolio Company Activity
Recent Portfolio Company Activity Q1 IPO Activity • CoreWeave successfully completed its IPO on March 28th (1) o According to Reuters, CoreWeave raised over $1.5 billion from the listing at a valuation of approximately $23.0 billion o According to the company’s S-1, CoreWeave generated $1.9 billion
Slide 12: Portfolio Activity – CoreWeave, Inc.
Portfolio Activity – CoreWeave, Inc. About CoreWeave, Inc. SuRo Capital Investments • In 2024, SuRo Capital made an aggregate $25.0 million • CoreWeave is a specialized cloud provider, investment in CoreWeave, Inc. – $15.0 million through the Class A Membership Interest of CW Opportunity 2 designed
Slide 13: Portfolio Activity – ARK Type One Deep Ventures Fund LLC
Portfolio Activity – ARK Type One Deep Ventures Fund LLC About OpenAI Global, LLC SuRo Capital Investment • In September 2024, SuRo Capital made a • OpenAI is an artificial intelligence research $17.5 million investment in the Class A organization focused on developing and Interest of ARK Type One D
Slide 14: Investment Activity – Plaid Inc.
Investment Activity – Plaid Inc. About Plaid Inc. SuRo Capital Investment • In Q2 2025, SuRo Capital made a $5.0 million investment in Plaid Inc.’s Class A Common • Plaid is a fintech platform that enables secure, Shares via a sole limited partnership interest seamless connectivity between financial
Slide 15: Key Industry Themes
Key Industry Themes As a Percentage of Total Investment Portfolio at Fair Value at March 31, 2025 Fair Value % of Legend Industry Theme(1) ($ in millions) Portfolio 21.7% Artificial Intelligence Infrastructure & Applications $59.3 27.8% Software-as-a-Service $46.3 21.7% 27.8% Consumer Goods & Servic
Slide 16: Financial Highlights
Financial Highlights For the Quarter Ended March 31, 2025 First Quarter 2025 Amount Per Share(1) ($ in millions) Net Assets at Beginning of Period $157.6 $6.68 Net Investment Loss $(3.7) $(0.16) Net Realized Loss on Investments $(<0.1) $(<0.01) Realized Loss on Partial Repurchase of 6.00% Notes due