The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.

V•••••• L•••••• • L•••••• I•• I•••

Business development companymanaged by W•••••• T••••••••• I••••••••• ••••Non-traded· PORTOLA VALLEY, CA

A non-traded business development company, managed by W•••••• T••••••••• I••••••••• ••••, holding $56.2M across 61 borrowers at Mar 31, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$56.2M
Schedule of investments, 10-Q and 10-K
Borrowers
61
Schedule of investments, 10-Q and 10-K
Mark on cost
61.0¢
Schedule of investments, 10-Q and 10-K
First lien
100%
Schedule of investments, 10-Q and 10-K
Schedule of investments (65)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 66.4¢ → 61.0¢
    book mark on cost

    Marked its book down from 66.4¢ to 61.0¢ on the dollar in the quarter to Mar 31, 2026.

    Q1 2026 · The whole portfolio was marked down; net asset value follows.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  2. 26 below 80¢
    $48.5M principal

    26 positions across 26 borrowers marked below 80¢ on cost, $48.5M principal.

    Q1 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 31 Mar 2026
  3. 68 → 61
    borrowers

    Lost a net 7 borrowers in the quarter to Mar 31, 2026, to 61.

    Q1 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
  4. $130M → $56.2M
    fair value, 4 quarters

    Its portfolio shrank 57% at fair value over the last four quarters.

    Q1 2026 · The book is shrinking.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1717310 · file 814-01253Show
Fair value
$56.2M
as of Mar 31, 2026
Principal held
$107M
debt pieces, the filer's figure
Cost
$92.2M
61c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
65
61 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
14
since Dec 31, 2022
Facilities held
61
1 sponsors financed
Portfolio through time
Fair value by quarter end$56.2M as of Mar 31, 2026
Dec 31, 2022$490M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2026$56.2M6161c0n/a
Dec 31, 2025$78.1M6866c0n/a
Sep 30, 2025$90.9M7964c0n/a
Jun 30, 2025$105M8867c0n/a
All 14 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2025$130M9874c0n/a
Dec 31, 2024$302M10678c0n/a
Sep 30, 2024$175M11975c0n/a
Jun 30, 2024$203M13079c0n/a
Mar 31, 2024$253M14283c0n/a
Dec 31, 2023$347M15586c0n/a
Sep 30, 2023$355M16188c0n/a
Jun 30, 2023$406M16992c0n/a
Mar 31, 2023$464M18393c0n/a
Dec 31, 2022$490M19194c0n/a
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Dec 31, 2023
259 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
C••••• C••••••• I•••term loan first lien$225,469$224,872
100c
12.00%
V•••••••• I•••term loan first lien$243,033$223,116
100c
14.80%
Y••• B••••••••• I•••term loan first lien$242,902$220,407
100c
13.30%
M••••••••• I•••term loan first lien$221,127$218,898
100c
11.50%
N•••••• H•••••• I•••term loan first lien$222,648$217,849
100c
12.30%
B•••••••• I•••term loan first lien$221,804$216,774
100c
14.80%
G•••••• I•••term loan first lien$215,439$213,798
100c
11.80%
T••• I•••term loan first lien$353,987$203,633
63c
14.30%
C•••••••• I•••term loan first lien$229,002$196,822
100c
15.00%
T••• I•••term loan first lien$312,500$191,458
63c
15.30%
T••• I•••term loan first lien$312,500$190,530
63c
15.80%
F••••••• I•••term loan first lien$189,126$169,116
100c
11.80%
Z••• T••••••••• I•••term loan first lien$165,526$165,525
100c
10.00%
Z••• T••••••••• I•••term loan first lien$165,526$155,757
100c
10.00%
A•••••• I•••term loan first lien$200,739$153,231
100c
12.50%
O••••••••• I•••term loan first lien$151,109$150,780
100c
12.00%
O••••••••• I•••term loan first lien$151,028$150,032
100c
12.00%
R•••• T••••••••• I•••term loan first lien$180,104$149,795
100c
11.00%
P••••••••• i•••term loan first lien$150,836$143,047
100c
12.00%
A•••••• S••••••••• I•••term loan first lien$137,457$136,703
100c
10.80%
A•••••• S••••••••• I•••term loan first lien$137,388$135,628
100c
10.80%
A•••••• I•••term loan first lien$133,826$133,821
100c
12.50%
B••••••••• I•••term loan first lien$134,312$130,791
98c
12.30%
B•••••••• B••••••••• I•••term loan first lien$275,000$127,662
50c
6.00%
P••••••••• i•••term loan first lien$121,495$117,614
100c
14.30%
W•••••••• I•••term loan first lien$112,755$112,008
100c
12.00%
W•••••••• I•••term loan first lien$112,755$112,008
100c
12.00%
W•••• W••••• I•• I•••term loan first lien$111,166$111,166
100c
12.00%
W•••• W••••• I•• I•••term loan first lien$111,036$111,036
100c
12.00%
L••••• P•••• I•••term loan first lien$109,199$107,258
100c
11.00%
W•••• W••••• I•• I•••term loan first lien$111,028$105,072
100c
12.00%
P••••••••• i•••term loan first lien$107,087$96,231
100c
13.80%
A••••• I•••term loan first lien$95,118$94,408
100c
12.30%
P••••••••• i•••term loan first lien$95,285$93,485
100c
12.00%
O••• H•••••• I•••term loan first lien$90,275$89,868
100c
12.00%
T•••••••• I•••term loan first lien$93,038$87,637
100c
12.00%
M••••••••• I•••term loan first lien$84,976$84,148
100c
12.50%
P••••••••• i•••term loan first lien$83,466$82,084
100c
12.00%
T••• I•••term loan first lien$118,039$72,539
63c
14.80%
K•••• M••••••• I• L••term loan first lien$94,770$71,768
94c
11.50%
W••••••••• I•••term loan first lien$455,117$68,278
18c
12.00%
O••• H•••••• I•••term loan first lien$56,647$56,322
100c
12.00%
M••••••••• I•••term loan first lien$55,783$55,474
100c
12.50%
P•••••• I•••term loan first lien$2.0M$50,722
3c
12.50%
R•••• I•••term loan first lien$11.3M$23,751
0c
12.50%
S•••••• C•••• I•••term loan first lien$597,411$0
0c
12.30%
L••••• T••••••••• I•••term loan first lien$3.4M$0
0c
12.00%
M••••••••• C••••••••• I•••term loan first lien$10.0M$0
0c
18.00%
D••••••• I•••term loan first lien$2.0M$0
0c
11.00%
N•••••••• I•••term loan first lien$2.3M$0
0c
18.00%
S•• O••• L••term loan first lien$29,942$0
0c
8.00%
T••••••••• I•••term loan first lien$628,478$0
0c
18.00%
M•••••• I•••term loan first lien$2.2M$0
0c
11.20%
M•••••• I•••term loan first lien$2.2M$0
0c
11.20%
S••• A•••••• I•••term loan first lien$4.9M$0
0c
18.00%
A••••• M••••••• I•••term loan first lien$398,742$0
0c
18.00%
Y•• H•••••• I•••term loan first lien$1.8M$0
0c
12.00%
L••••• T••••••••• I•••term loan first lien$3.4M$0
0c
12.00%
F•••• A••••••• G••••••••• O••••••••• F•••unstated lien unstatedNot disclosedNot disclosed
Page 3 of 3Previous
Registration
Fiscal year end
1231reported
Incorporated
MDreported
On the SEC BDC report
2018 to 2026reported
Filings listed
18reported10-Q and 10-K since 2022
Former names
Venture Lending & L•••••• Fund IX, Inc.reported
Latest schedule
0001717310-26-000009reported