CHANDLER, Ariz.--(BUSINESS WIRE)--Trinity Capital Investment (“Trinity”), a leading provider of venture loans and equipment leases to some of the world’s most innovative venture capital-backed companies, today announced results for the second quarter 2016. The company committed $51 million of debt capital and funded nine portfolio companies for a total of $34.6 million. Financial results for the second quarter ended June 30, 2016 and reflect Trinity’s unique ability to meet the debt financing needs of portfolio companies across a wide range of industries.
“Growth capital is a critical component to the success of any venture capital-backed company,” said Steve Brown, managing partner of Trinity Capital Investment. “Our customers recognize the value of combining equity with smart debt financing and consistently confirm the value of our team and financial partnership.”
Second Quarter 2016 Loan/Lease Highlights:
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$16.5 million to new portfolio company Impossible Foods Inc., a Khosla
Ventures and Horizons Ventures-backed company that is making delicious
meats and cheeses directly from simple plant ingredients.
“Trinity understood my operational objectives and provided a unique financing solution that demonstrated a desire to partner together,” said David Lee, COO & CFO of Impossible Foods. “They were honest and transparent, their process was efficient, and the team at Trinity was impressive and available at all times.” - $10 million to new portfolio company Galvanize, Inc., a market leader in delivering technology education programs and portfolio company of University Ventures.
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$5 million to new portfolio company Fingerprint Digital, Inc., creator
of kids' one-of-a-kind mobile play-and-learn networks supported by a
syndicate of investors including Reed Elsevier Ventures, Corus
Entertainment, and DreamWorks Animation.
“The Trinity team did a superb job of communicating next steps, expectations and timing throughout the entire process,” said Nancy MacIntyre, Founder and CEO of Fingerprint Digital. “We found their straightforward approach and transparent process highly beneficial.” - $6 million to new portfolio company Lucidworks, Inc., a provider of enterprise search solutions for some of the world's largest brands backed by top-tier venture capital investors including Shasta Ventures, Granite Ventures, and Allegis Capital.
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$5 million to new portfolio company HyTrust, Inc., a company whose
mission is to make cloud infrastructure more trustworthy for
enterprises, service providers and government agencies. The company’s
major investors include Intel Capital, Accelerate-IT Ventures, Trident
Capital, and Vanedge Capital.
“From the beginning, it was clear Trinity has a reputation for working well with their portfolio companies,” said Mercy Caprara, CFO of HyTrust. “Throughout the process, Trinity’s requirements were very straightforward and the entire team was responsible, reasonable, and pleasant to work with.” - $8 million to new portfolio company Julep Beauty, Inc., the world's fastest-growing beauty brand, which has raised over $56 million in financing from venture capital firms including Andreessen Horowitz, Azure Capital Partners, and Madrona Venture Group.
- $500,000 of equity investments to existing portfolio companies.
Trinity provides debt capital to the portfolio companies of top-tier venture capital firms in the United States. Trinity currently makes investments of $2 to $15 million, with an average of $5.3 million, and has financed over 70 portfolio companies. In addition to venture loans and equipment leases, Trinity provides subordinated debt incremental to senior debt financing from top-tier technology bank lenders.
About Trinity Capital Investment
High-growth venture capital-backed companies turn to Trinity Capital Investment (“Trinity”) as a preferred option for venture loans and equipment leases to fuel their growth and extend their runway. Since 2008, Trinity has worked closely with leading venture capital firms and their respective portfolio companies to offer valuable support, enhanced flexibility and competitive venture debt financing solutions to customers with distinctive needs. The Trinity portfolio includes clients in the software, semiconductors and hardware, healthcare and pharmaceuticals, energy and efficiency, consumer and retail, networking and equipment, and clean technology industries. Having funded some of the world’s most innovative startup companies, Trinity is the partner of choice for venture-backed technology startups wanting an experienced partner to help strengthen their financial position while preserving equity. For more information, please visit www.trincapinvestment.com.