DFX Intelligence
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Borrower
V•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: 2015; January 26; Preferred Member Units; Preferred Member Units January 26
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $3.0M
sum of BDC pieces, a lower bound
Fair value
$8.0M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
4 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2020
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••• S••••• C•••••• C••• | $2.1M | 100¢ | 0 pts |
| M•• I••••• F•••• I••• | $900K | 100¢ | 0 pts |
Every BDC piece · 14 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••• S••••• C•••••• C••• | term loan unsecured or subordinated S•••••• D••• | $2.1M | $2.1M 100c | 10.00% |
| M•• I••••• F•••• I••• | term loan lien unstated S•••••• D••• | $900,000 | $900,000 100c | 10.00% |
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• M••••• U•••• 1 | Not disclosed | $1.7M 142c | |
| M••• S••••• C•••••• C••• | equity equity C••••• S•••• | Not disclosed | $0 0c | |
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• M••••• U•••• 1.2 | Not disclosed | $1.7M |
View all 14 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• M••••• U•••• 1.1 | Not disclosed | $0 | |
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• M••••• U•••• 2 | Not disclosed | $0 | |
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• M••••• U•••• 3 | Not disclosed | $0 0c | |
| M•• I••••• F•••• I••• | equity equity C••••• S•••• | Not disclosed | $0 0c | |
| M•• I••••• F•••• I••• | preferred equity equity P•••••••• M••••• U•••• 1.1 | Not disclosed | $0 | |
| M•• I••••• F•••• I••• | preferred equity equity P•••••••• M••••• U•••• 1 | Not disclosed | $743,000 141c | |
| M•• I••••• F•••• I••• | preferred equity equity P•••••••• M••••• U•••• 3 | Not disclosed | $0 0c | |
| M•• I••••• F•••• I••• | preferred equity equity P•••••••• M••••• U•••• 2 | Not disclosed | $0 | |
| M•• I••••• F•••• I••• | preferred equity equity P•••••••• M••••• U•••• 2.1 | Not disclosed | $743,000 |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated term loan unsecured or subordinated | at least $2.1M | 100c | 10.00% | Mar 31, 2025 | 1 |
| term loan lien unstated | at least $900,000 | 100c | 10.00% | Mar 31, 2025 | 2 |
| unsecured or subordinated other unsecured or subordinated exited Dec 31, 2023 | unknown | n/a | 8.00% | unstated | 2 |
Equity pieces beside the debt: preferred equity ($5.0M fair value, 2 BDCs), equity ($0 fair value, 2 BDCs), warrants ($0 fair value, 2 BDCs), other ($0 fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $3.0M | $3.0M | 100c | 0 |
| Mar 31, 2026 | 2 | $3.0M | $3.0M | 100c | 0 |
| Dec 31, 2025 | 2 | $3.0M | $3.0M | 100c | 0 |
| Sep 30, 2025 | 2 | $3.0M | $3.0M | 100c | 0 |
All 19 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $3.0M | $6.0M | 200c | 0 |
| Mar 31, 2025 | 2 | $3.0M | $6.0M | 200c | 0 |
| Dec 31, 2024 | 2 | $6.0M | $6.0M | 100c | 0 |
| Sep 30, 2024 | 2 | $3.0M | $3.0M | 100c | 0 |
| Jun 30, 2024 | 2 | $3.0M | $3.0M | 100c | 0 |
| Mar 31, 2024 | 2 | $3.0M | $3.0M | 100c | 0 |
| Dec 31, 2023 | 2 | $3.0M | $9.0M | 300c | 0 |
| Sep 30, 2023 | 2 | $3.0M | $6.0M | 200c | 0 |
| Jun 30, 2023 | 2 | $3.0M | $6.0M | 200c | 0 |
| Mar 31, 2023 | 2 | $3.0M | $6.0M | 200c | 0 |
| Dec 31, 2022 | 2 | $24.5M | $42.6M | 174c | 0 |
| Sep 30, 2022 | 1 | $17.1M | $33.7M | 196c | 0 |
| Jun 30, 2022 | 1 | $0 | $17.1M | n/a | 0 |
| Mar 31, 2022 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $35.7M | $35.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Mark recoveredMar 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Mark recoveredMar 31, 2023
Full timeline · 13 eventsShow fewer
- Maturity extended (observed)Mar 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- Maturity shortened (observed)Dec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Lender left a facilitySep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- VOLUSIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived