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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, 2026
501 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
E•••••••• S••••••••• I•••term loan lien unstated$33,000$4,000
13c
S+750 bp
PIK 7.50%
F••• L••••••preferred equity equityNot disclosed$4,000
12c
S••••• I•••••••• I•••preferred equity equityNot disclosed$4,000
100c
C••••••• I•••warrants equityNot disclosed$4,000
14c
A•• H••••••• I•••preferred equity equityNot disclosed$4,000
22c
R•••• N••••••• I•••revolver lien unstated$42,000$4,000
10c
S+575 bp
PIK 5.75%
A••••••• G••••• I••••••••• I•••warrants equityNot disclosed$4,000
100c
T•••• I••••••••• I•••preferred equity equityNot disclosed$3,000
12c
S•••••• I•••preferred equity equityNot disclosed$3,000
12c
F••• L••••••preferred equity equityNot disclosed$3,000
5c
O••••••• S•••••• I•••preferred equity equityNot disclosed$3,000
60c
R•••• N••••••• I•••revolver lien unstated$25,000$3,000
12c
S+575 bp
PIK 5.75%
R•••• N••••••• I•••revolver lien unstated$25,000$3,000
12c
S+575 bp
PIK 5.75%
R•••• N••••••• I•••revolver lien unstated$27,000$3,000
11c
S+575 bp
PIK 5.75%
W•••• A•• I•••warrants equityNot disclosed$3,000
100c
J••• D••••••• I•••warrants equityNot disclosed$2,000
100c
P••••••• E••••••••• I•••preferred equity equityNot disclosed$2,000
67c
E•••••••• S••••••••• I•••term loan lien unstated$11,000$2,000
18c
S+750 bp
PIK 7.50%
C•••••• C•••••••••preferred equity equityNot disclosed$2,000
15c
E•••••••• S••••••••• I•••term loan lien unstated$18,000$2,000
11c
S+750 bp
PIK 7.50%
H• L•• •••••••warrants equityNot disclosed$2,000
5c
J••• S•••••••equity equityNot disclosed$2,000
6c
R•••• N••••••• I•••revolver lien unstated$8,000$1,000
13c
S+575 bp
PIK 5.75%
E•••••••• S••••••••• I•••term loan lien unstated$11,000$1,000
9c
S+750 bp
PIK 7.50%
F•••• H•••••• I•••preferred equity equityNot disclosed$1,000
100c
C•••••••• H•••••• I•••preferred equity equityNot disclosed$1,000
0c
C•••••• C•••••••••preferred equity equityNot disclosed$1,000
50c
J••• D••••••• I•••warrants equityNot disclosed$1,000
1c
H•••••• I•••preferred equity equityNot disclosed$1,000
1c
B•••• a•• W••• M•••• 2• L••••••warrants equityNot disclosed$0
0c
H•••••• I•••warrants equityNot disclosed$0
0c
C•••••••• H•••••• I•••warrants equityNot disclosed$0
0c
M••••••••• N•••••••• I•••preferred equity equityNot disclosed$0
0c
S••••• I••• 3•warrants equityNot disclosed$0
H•••••• I•••preferred equity equityNot disclosed$0
0c
F•••• S•preferred equity equityNot disclosed$0
0c
H•••••• I•••warrants equityNot disclosed$0
0c
F•••• B•••••• L••equity equityNot disclosed$0
0c
M••••••••• N•••••••• I•••preferred equity equityNot disclosed$0
0c
F•••• I•••warrants equityNot disclosed$0
M•••••• I•••revolver lien unstated$0$0S+250 bp
H•••••• I•••equity equityNot disclosed$0
0c
M••••••••• N•••••••• I•••preferred equity equityNot disclosed$0
0c
D•••••••• I•••preferred equity equityNot disclosed$0
0c
P••• T•••• P••preferred equity equityNot disclosed$0
S••••• I••• 1•warrants equityNot disclosed$0
0c
S••••• I•••preferred equity equityNot disclosed$0
0c
F•••• B•••••• L••notes lien unstated$1,000$0
0c
PIK 12.00%
F•••• B•••••• L••preferred equity equityNot disclosed$0
0c
H• L•• •••••••preferred equity equityNot disclosed$0
0c
N••• D•••••• I•••preferred equity equityNot disclosed$0
0c
H•••• G•••preferred equity equityNot disclosed$0
0c
F•••• B•••••• L••preferred equity equityNot disclosed$0
0c
H•••••• I•••warrants equityNot disclosed$0
0c
M••••• I•••preferred equity equityNot disclosed$0
0c
P•••••• 1•••• I•••preferred equity equityNot disclosed$0
0c
F•••• B•••••• L••preferred equity equityNot disclosed$0
0c
W••••••• L•••• I•••warrants equityNot disclosed$0
F•••• S•preferred equity equityNot disclosed$0
S••••• I••• 2•warrants equityNot disclosed$0
0c
I••••••• A••••••• I••• ••••• T••••• E• M••••••• I••••preferred equity equityNot disclosed$0
0c
P••••••• E••••••••• I•••revolver lien unstated$0$0S+100 bp
E•••••••• S••••••••• I•••warrants equityNot disclosed$0
0c
S••••• I•••term loan lien unstated$794,000$0
0c
S+475 bp
E•••••••• S••••••••• I•••warrants equityNot disclosed$0
0c
G•••• C••••••••• I•••warrants equityNot disclosed$0
0c
M••• S••••• I•••unstated lien unstatedNot disclosedNot disclosed
B•••••• I•••unstated lien unstatedNot disclosedNot disclosed
A•••••• A•• I•••unstated lien unstatedNot disclosedNot disclosed
E•••••••• A•• I•••unstated lien unstatedNot disclosedNot disclosed
H••••• I•••unstated lien unstatedNot disclosedNot disclosed
C•••••• I•••unstated lien unstatedNot disclosedNot disclosed
R••••••••• I••unstated lien unstatedNot disclosedNot disclosed
M•••••• I•••unstated lien unstatedNot disclosedNot disclosed
E•••••• C••••unstated lien unstatedNot disclosedNot disclosed
S••••• A••••••• U••• I•••unstated lien unstatedNot disclosedNot disclosed
S•••••• I•••unstated lien unstatedNot disclosedNot disclosed
E••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
F••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
F•••••• C••••unstated lien unstatedNot disclosedNot disclosed
T•••• E•••••• I•••unstated lien unstatedNot disclosedNot disclosed
O••••••• I•••unstated lien unstatedNot disclosedNot disclosed
I••••• T••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
U•••• S•••••• I•••unstated lien unstatedNot disclosedNot disclosed
T••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
W•••••••• F•••••• L•••••••• L•••unstated lien unstatedNot disclosedNot disclosed
P••••••• E••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
B•••••• T••••••••• L•••• I•••unstated lien unstatedNot disclosedNot disclosed
H•••• I•••unstated lien unstatedNot disclosedNot disclosed
A•• I•••••• H•••••• I•••unstated lien unstatedNot disclosedNot disclosed
P••• T•••• P••unstated lien unstatedNot disclosedNot disclosed
W••••••• I•••unstated lien unstatedNot disclosedNot disclosed
D••• S••••••• C••••unstated lien unstatedNot disclosedNot disclosed
F••••• I•••unstated lien unstatedNot disclosedNot disclosed
P•••••• H•••••••• L••term loan lien unstatedNot disclosedNot disclosed
L•••••• I•••unstated lien unstatedNot disclosedNot disclosed
E•••• S•••••••• I•••unstated lien unstatedNot disclosedNot disclosed
R•••• L•••• I•••unstated lien unstatedNot disclosedNot disclosed
J••• D••••••• I•••unstated lien unstatedNot disclosedNot disclosed
L••••••••• I•••unstated lien unstatedNot disclosedNot disclosed
Page 5 of 6PreviousNext
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.