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T••••••••• P•••••• V•••••• C••••• I•••

Business development companymanaged by T••••••••• A••••••• L••Non-traded· MENLO PARK, CA

A non-traded business development company, managed by T••••••••• A••••••• L••, holding $387M across 193 borrowers at Jun 30, 2026.

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

Fair value
$387M
Schedule of investments, 10-Q and 10-K
Borrowers
193
Schedule of investments, 10-Q and 10-K
Mark on cost
92.2¢
Schedule of investments, 10-Q and 10-K
Schedule of investments (492)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $24M
    on non-accrual, 4 borrowers

    4 borrowers on non-accrual, $24M principal; the largest is S••••• I•• ($9.61M).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen S••••• I•• →
  2. $7M
    newly on non-accrual

    1 borrower newly placed on non-accrual in Q2 2026, $7M principal: M••••• I•• ($7M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open M••••• I•• →
  3. 33 below 80¢
    $33.5M principal

    33 positions across 9 borrowers marked below 80¢ on cost, $33.5M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
Every headline figure, and the identifiersCIK 1792509 · file 814-01327Show
Fair value
$387M
as of Jun 30, 2026
Principal held
$334M
debt pieces, the filer's figure
Cost
$381M
92c on cost, debt pieces
Unfunded
$92.1M
commitments not yet drawn
Positions
492
193 borrowers
First lien
not established
80% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
332
12 sponsors financed
Portfolio through time
Fair value by quarter end$387M as of Jun 30, 2026
Dec 31, 2022$442M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$387M19392c36474 bp
Mar 31, 2026$394M19191c43473 bp
Dec 31, 2025$772M19792c87484 bp
Sep 30, 2025$362M19590c42517 bp
All 15 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$347M18292c42520 bp
Mar 31, 2025$417M17790c28525 bp
Dec 31, 2024$1.2B21394c109523 bp
Sep 30, 2024$438M17596c33545 bp
Jun 30, 2024$415M17096c27557 bp
Mar 31, 2024$444M16397c19573 bp
Dec 31, 2023$548M18697c5573 bp
Sep 30, 2023Not disclosed68n/a0n/a
Jun 30, 2023Not disclosed56n/a0n/a
Mar 31, 2023Not disclosed56n/a0n/a
Dec 31, 2022$442M17597c1611 bp
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 Mar 31, 2025
494 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
F•••• B•••••• L••term loan lien unstated$848,000$828,000
93c
12.00%
T••• F••••••• I•••term loan lien unstated$800,000$813,000
96c
11.00%
N•• G•••equity equityNot disclosed$801,000
116c
T••• F••••••• I•••term loan lien unstated$760,000$773,000
96c
11.00%
A••• H•••••••• I•••warrants equityNot disclosed$750,000
208c
A••••••••• I••• 1•warrants equityNot disclosed$743,000
576c
S••••• I•••term loan lien unstated$984,000$739,000
72c
S+550 bp
T••••• M••••••• I•••term loan lien unstated$724,000$709,000
98c
S+242 bp
PIK 2.33%
F•• H••••• U• L••••••term loan lien unstated$700,000$697,000
100c
S+575 bp
F•••• B•••••• L••term loan lien unstated$700,000$683,000
94c
12.00%
R••••••••• G••••warrants equityNot disclosed$676,000
101c
F•• H••••• U• L••••••term loan lien unstated$667,000$665,000
100c
S+575 bp
Q•••• C••••••• L•••term loan lien unstated$820,000$655,000
94c
PIK 6.00%
S••••• I•••term loan lien unstated$903,000$649,000
70c
S+325 bp
T••• F••••••• I•••term loan lien unstated$720,000$643,000
86c
11.00%
V•••••• F•••••••• I•••term loan lien unstated$983,000$640,000
65c
S+250 bp
K•••• F•••••••• T••••••••• I••••••••• 1•warrants equityNot disclosed$633,000
696c
T••• P••••••• L••••••equity equityNot disclosed$618,000
120c
Q•••• C••••••• L••• 1•equity equityNot disclosed$612,000
100c
P•••• B•••••• I•••warrants equityNot disclosed$608,000
195c
C••••• C••••••••• I•••term loan lien unstated$1.3M$597,000
45c
S+875 bp
S••••• I•••term loan lien unstated$795,000$597,000
72c
S+550 bp
E••••••••• I•••term loan lien unstated$3.1M$597,000
19c
S+500 bp
F••••••••• I••• 1•warrants equityNot disclosed$584,000
162c
E••••••••• I•••• 4•term loan lien unstated$2.9M$560,000
19c
S+500 bp
N•••••• O•• W•••• A•term loan lien unstated$635,000$552,000
93c
S+825 bp
PIK 8.25%
F••••• I•••term loan lien unstated$556,000$548,000
100c
S+400 bp
P••••• G•••• I•••term loan lien unstated$550,000$545,000
100c
S+350 bp
A••••••• S•••• T••••••••• C••••warrants equityNot disclosed$543,000
572c
T••• F••••••• I•••term loan lien unstated$565,000$532,000
91c
11.00%
R•••• C•••••••• I•••term loan lien unstated$475,000$532,000
100c
S+575 bp
J•••• S•••••••• I•••term loan lien unstated$500,000$530,000
100c
10.00%
A•••• H•••••• I•••term loan lien unstated$500,000$521,000
100c
S+800 bp
J•••• S•••••••• I•••term loan lien unstated$500,000$521,000
100c
13.75%
O••••••• H•••••• I••• 2•warrants equityNot disclosed$520,000
2080c
A•••• H•••••• I•••term loan lien unstated$500,000$515,000
100c
S+800 bp
P••••• A• F•••• G•••term loan lien unstated$515,000$502,000
98c
S+1350 bp
T••• S•••••• I•••equity equityNot disclosed$500,000
100c
F•• H•••••• I•••equity equityNot disclosed$500,000
100c
E••••••••• I•••equity equityNot disclosed$500,000
100c
F••••• I•••term loan lien unstated$500,000$492,000
100c
S+400 bp
T•• B•••• T•• H•••••••• I•••warrants equityNot disclosed$469,000
337c
F•• H••••• U• L••••••term loan lien unstated$460,000$457,000
101c
S+575 bp
S•••••• I•••term loan lien unstated$455,000$455,000
100c
S+150 bp
T••• F••••••• I•••term loan lien unstated$440,000$451,000
96c
11.00%
S•••••• I••• 2•equity equityNot disclosed$450,000
100c
R•••• N••••••• I•••revolver lien unstated$2.4M$444,000
18c
S+575 bp
PIK 5.75%
M••••• A• G•••unstated lien unstated$429,000$443,000
104c
S+1000 bp
H••••••••• I••term loan lien unstated$446,000$443,000
100c
17.25%
E••••••••• I•••• 2•term loan lien unstated$2.2M$420,000
18c
S+500 bp
P••••• A• F•••• G•••term loan lien unstated$389,000$417,000
100c
S+775 bp
P••••• A• F•••• G•••term loan lien unstated$425,000$414,000
98c
S+1450 bp
M••••• I•••warrants equityNot disclosed$412,000
70c
A•••••• A•• I•••equity equityNot disclosed$400,000
100c
D•••• R•• O••• I•••term loan lien unstated$320,000$395,000
99c
S+500 bp
T••• F••••••• I•••term loan lien unstated$434,000$387,000
87c
11.00%
F•••••••• I•••warrants equityNot disclosed$353,000
2353c
T••• F••••••• I•••term loan lien unstated$361,000$342,000
91c
11.00%
O•••••••• I•••term loan lien unstated$334,000$340,000
100c
S+475 bp
N•••••• O•• W•••• A•term loan lien unstated$356,000$331,000
100c
S+825 bp
PIK 8.25%
T••• H••••••• L••••••warrants equityNot disclosed$327,000
727c
P•• F••• I•••equity equityNot disclosed$323,000
162c
W••• D••• I•••equity equityNot disclosed$322,000
129c
M• M•••• L••••••term loan lien unstated$1.7M$320,000
55c
M••••••• T••••••••• C••••••••• 3•equity equityNot disclosed$319,000
64c
F•••• B•••••• L••term loan lien unstated$324,000$316,000
93c
12.00%
F•••• B•••••• L••term loan lien unstated$315,000$308,000
93c
12.00%
W•••••••• F•••••• L•••••••• L••••••unstated lien unstated$305,000$303,000
102c
S+675 bp
T••• F••••••• I•••term loan lien unstated$300,000$302,000
95c
11.00%
W••••••• L•••• I•••term loan lien unstated$300,000$300,000
100c
S+85 bp
H•••••• C•••••••••equity equityNot disclosed$299,000
100c
D•••• G•••term loan lien unstated$723,000$280,000
39c
C••••••• V••••••• I••• 3•warrants equityNot disclosed$275,000
134c
F••••••••• I•••equity equityNot disclosed$270,000
99c
O••• C•••• ••••• G••••• C••••• 4•warrants equityNot disclosed$265,000
315c
S•••• I•••warrants equityNot disclosed$265,000
465c
K• H•••••• I•••warrants equityNot disclosed$263,000
141c
F•••• B•••••• L••term loan lien unstated$263,000$257,000
93c
12.00%
F•••• B•••••• L••term loan lien unstated$263,000$257,000
93c
12.00%
T••• F••••••• I•••term loan lien unstated$250,000$256,000
96c
11.00%
E••••••••• I•••warrants equityNot disclosed$250,000
100c
C••••• I••••••••• I•••equity equityNot disclosed$250,000
100c
O•••••• F••• I• L•equity equityNot disclosed$250,000
100c
H••••••••• I•••term loan lien unstated$250,000$248,000
100c
18.00%
S••••• I•••••••• I•••equity equityNot disclosed$244,000
98c
Q•••••• C•••••••• I•••term loan lien unstated$230,000$236,000
100c
S+575 bp
A••••••••• I•••equity equityNot disclosed$235,000
235c
S••••••• I•••warrants equityNot disclosed$233,000
245c
H•••• T••••••••• I••• 1•equity equityNot disclosed$228,000
115c
T••• F••••••• I•••term loan lien unstated$220,000$226,000
96c
11.00%
E••••• M•••• T••••••••• I•••term loan lien unstated$1.0M$225,000
22c
S+625 bp
PIK 6.25%
A••••••••• I••• 3•warrants equityNot disclosed$223,000
279c
W•••••••• F•••••• L•••••••• L••••••unstated lien unstated$199,000$219,000
106c
S+675 bp
P••••• A• F•••• G•••equity equityNot disclosed$219,000
88c
T••• F••••••• I•••term loan lien unstated$216,000$219,000
95c
11.00%
L••••• H••••• I•••warrants equityNot disclosed$216,000
584c
T••• F••••••• I•••term loan lien unstated$208,000$213,000
96c
11.00%
T••• F••••••• I•••term loan lien unstated$240,000$213,000
87c
11.00%
D•••• G•••term loan lien unstated$529,000$210,000
42c
W•••••••• F•••••• L•••••••• L••••••unstated lien unstated$203,000$205,000
101c
S+475 bp
Page 2 of 5PreviousNext
Registration
Fiscal year end
1231reported
Incorporated
MDreported
On the SEC BDC report
2021 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Former names
T••••••••• Global Venture Credit, LLCreported
Latest schedule
0001792509-26-000024reported

Not yet on record: first lien.