Suro Capital Corp. · NASDAQ:SSSS
Suro Capital — Q3 2024 Earnings Presentation
14 slides from Suro Capital's earnings presentation, Nov 7, 2024
Slide 1: Q3 2024 Earnings Call
Q3 2024 Earnings Call November 7, 2024
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: 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 4: 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 5: Earnings Overview
Earnings Overview •1 SuRo Capital’s Net Asset Value (“NAV”) Per Share is $6.73 as of September 30, 2024 o Net Assets of approximately $157.4 million at quarter-end •2 Liquid Assets of $39.5 Million as of September 30, 2024 o Includes cash and securities of publicly traded portfolio companies not sub
Slide 6: Top 5 Positions = 47% of Investment Portfolio at Fair Value
Top 5 Positions = 47% of Investment Portfolio at Fair Value Based on Total Investment Portfolio Fair Value of $199.3 million at September 30, 2024 Cost Basis Fair Value % of Investment Portfolio Company ($ in millions) ($ in millions) Portfolio (1) • SuRo Capital’s combined 1 Opportunity 2 LP $15.2
Slide 7: 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 8: 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 9: Investment Activity – IH10, LLC
Investment Activity – IH10, LLC About VAST Data, Ltd. SuRo Capital Investment • VAST Data is an AI data platform company that delivers a scalable, all-flash, universal storage • SuRo Capital made a $12.0 million investment platform designed to eliminate the trade-offs in the Membership Interest of I
Slide 10: Investment Activity
Investment Activity Q3 Investments Amount(1) Portfolio Company Investment Transaction Date ($ in millions) Membership Interest, ARK Type One Deep Ventures Fund LLC(2) 9/25/2024 $17.5 Class A CoreWeave, Inc. Common Shares 9/26/2024 $5.0 Q4 Investments To Date Amount(1) Portfolio Company Investment Tr
Slide 11: Investment Activity - Realizations
Investment Activity - Realizations Q3 Realizations Net Realized Transaction Average Net Proceeds Gain/(Loss) Portfolio Company Date Shares Sold Share Price(1) ($ in millions) ($ in millions) Churchill Sponsor VII LLC 8/18/2024 N/A N/A $- $(0.3) OneValley, Inc. (f/k/a NestGSV, Inc.)(2) 8/29/2024 N/A
Slide 12: Note Repurchase Program & Convertible Note Purchase Agreement
Note Repurchase Program & Convertible Note Purchase Agreement Note Repurchase Program Amount Repurchased Principal Outstanding Date Item ($ in millions) ($ in millions) Q3 2024 Repurchase of 6.00% Notes due 2026 $25.3 $49.7 Q4 To Date Repurchase of 6.00% Notes due 2026 $5.0 $44.7 Total Repurchase of
Slide 13: Key Industry Themes
Key Industry Themes As a Percentage of Total Investment Portfolio at Fair Value at September 30, 2024 Legend Industry Theme Fair Value % of Portfolio ($ in millions) Software-as-a-Service $51.3 25.7% 21.2% Artificial Intelligence Infrastructure & Applications(1) $42.2 21.2% Consumer Goods & Services
Slide 14: Financial Highlights
Financial Highlights For the Quarter Ended September 30, 2024 Third Quarter 2024 Amount Per Share(1) ($ in millions) Net Assets at Beginning of Period $162.3 $6.94 Net Investment Loss $(3.2) $(0.14) Net Realized Loss on Investments $(13.7) $(0.59) Realized Loss on Partial Repurchase of 6.00% Notes d