Suro Capital Corp. · NASDAQ:SSSS
Suro Capital — Q4 2024 Earnings Presentation
18 slides from Suro Capital's earnings presentation, Mar 11, 2025
Slide 1: Q4 & FYE 2024 Earnings Call
Q4 & FYE 2024 Earnings Call March 11, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements Statements included herein, including statements regarding SuRo Capital Corp.'s ("SuRo Capital", "SSSS", "we", "us" or "our") beliefs, expectations, intentions or strategies for the future, may constitute "forward-looking statements". SuRo Capital cautions you that forward
Slide 3: Q4 & FYE 2024 Earnings Overview
Q4 & FYE 2024 Earnings Overview •1 SuRo Capital’s Net Asset Value (“NAV”) Per Share is $6.68 as of December 31, 2024 o Net Assets of approximately $157.6 million at year-end •2 Invested $54.5 Million in Artificial Intelligence Infrastructure & Applications in 2024(1) o CoreWeave, Inc. – $25.0 millio
Slide 4: SuRo Capital Is The Public's Gateway To Venture Capital
SuRo Capital Is The Public’s Gateway To Venture Capital SuRo Capital is a publicly traded, growth-stage venture (1) 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 logos
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) ARK
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 = 44% of Investment Portfolio at Fair Value
Top 5 Positions = 44% of Investment Portfolio at Fair Value Based on Total Investment Portfolio Fair Value of $209.4 million at December 31, 2024 Cost Basis Fair Value % of Investment Portfolio Company ($ in millions) ($ in millions) Portfolio (1) • SuRo Capital’s combined 1 Opportunity 2 LP $15.2 $
Slide 11: Recent Portfolio IPO Activity
Recent Portfolio IPO Activity Q4 IPO Activity • ServiceTitan began trading on the NASDAQ under the ticker symbol “TTAN” on December 12, 2024 o According to Reuters, ServiceTitan raised $625 million in its IPO o The company’s shares priced at $71 per share and opened at $101 per share, valuing Servic
Slide 12: Investment Activity – CoreWeave, Inc.
Investment Activity – CoreWeave, Inc. About CoreWeave, Inc. SuRo Capital Investments • SuRo Capital has invested $25.0 million in • CoreWeave is a specialized cloud provider, CoreWeave to date(1) designed to power the most complex workloads • In May 2024, SuRo Capital made a $15.0 with customized so
Slide 13: Investment Activity – ARK Type One Deep Ventures Fund LLC
Investment Activity – ARK Type One Deep Ventures Fund LLC About OpenAI Global, LLC SuRo Capital Investment • In September 2024, SuRo Capital made a $17.5 • OpenAI is an artificial intelligence research million investment in the Class A Interest of organization focused on developing and ARK Type One
Slide 14: Investment Activity – IH10, LLC
Investment Activity – IH10, LLC About VAST Data, Ltd. SuRo Capital Investment • VAST Data is an AI data platform company that unifies storage, database, and containerized compute engine services into a single, scalable • In Q4, SuRo Capital made a $12.0M platform to power AI and GPU accelerated tool
Slide 15: Recent Portfolio SPAC Activity
Recent Portfolio SPAC Activity Q4 SPAC Activity • In November 2024, SuRo Capital exited its position in Oklo, Inc. for a realized gain of $4.8 million – over a 20x return on initially invested capital in AltC Sponsor LLC, the sponsor of AltC Acquisition Corp. • During Q4 2024, SuRo Capital sold its
Slide 16: Key Industry Themes
Key Industry Themes As a Percentage of Total Investment Portfolio at Fair Value at December 31, 2024 Legend Industry Theme Fair Value % of Portfolio ($ in millions) Artificial Intelligence Infrastructure & Applications(1) $58.1 27.7% 23.5% Software-as-a-Service $49.2 23.5% Consumer Goods & Services
Slide 17: Note Repurchase Program & Convertible Note Purchase Agreement
Note Repurchase Program & Convertible Note Purchase Agreement Note Repurchase Program Amount Repurchased Principal Outstanding Date Item ($ in millions) ($ in millions) Q3 2024 Repurchase of 6.00% Notes due 2026 $25.3 $49.7 Q4 2024 Repurchase of 6.00% Notes due 2026 $5.0 $44.7 Q1 To Date Repurchase
Slide 18: Financial Highlights
Financial Highlights For the Quarter and Fiscal Year Ended December 31, 2024 Fourth Quarter 2024 Fiscal Year 2024 Amount Amount Per Share(1) Per Share(1) ($ in millions) ($ in millions) Net Assets at Beginning of Period $157.4 $6.73 $203.4 $7.99 Net Investment Loss $(3.9) $(0.16) $(14.0) $(0.59) Net