DFX Intelligence
Private Credit Intelligence
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Borrower
V•••••• B••••• L••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Venture 35 LLC; Venture Global
Principal held
at least $36.5M
sum of BDC pieces, a lower bound
Fair value
$36.3M
100c on cost, debt pieces
Unfunded
$2.4M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
6
1 equity pieces beside them
Next maturity
May 1, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
7
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $33.4M | 100c | SOFR+525 bp | Apr 1, 2033 | 4 |
| first lien delayed draw term loan first lien | at least $3.1M | 101c | SOFR+525 bp | Mar 1, 2030 | 3 |
| first lien revolver first lien | at least $75,662 | n/a | SOFR+525 bp | Mar 1, 2030 | 1 |
| other lien unstated exited Mar 31, 2025 | at least $17.0M | 101c | S+525 bp | Mar 1, 2030 | 2 |
| term loan lien unstated exited Sep 30, 2022 | at least $598,500 | 110c | S+275 bp | unstated | 1 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 2 |
Equity pieces beside the debt: preferred equity ($2.2M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | delayed draw term loan first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Delayed Draw Term Loan | 8.91% (S + 5.2 | $174,337 | $171,820 103c | SOFR+525 bp |
| A• P•••••• C••••• I•••••••• C••• | term loan first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Term Loan | 8.91% (S + 5.25%; 1.00% Flo | $4.8M | $4.8M 101c | SOFR+525 bp |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Revolver | 8.86% (S + 5.25%; 1.00% Floo | $75,662 | $73,770 111c | SOFR+525 bp |
| A••• C••• I••••••••• F••• | term loan first lien First lien senior secured loans 1 | $6.8M | $6.8M 100c | S+223 bp |
| A••• C••• I••••••••• F••• | term loan first lien First lien senior secured loans 2 | $3.0M | $3.0M 102c | S+325 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien First Lien Debt | $6.1M | $6.1M 101c | S+525 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien First Lien Debt (Delayed Draw) | $1.3M | $222,000 100c | S+525 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien Delayed Draw Loan | n/a | n/a | |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan first lien First Lien Debt (Delayed Draw) | $1.6M | $283,000 100c | S+525 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan first lien Delayed Draw Loan | n/a | n/a | |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien First Lien Debt | $12.7M | $12.7M 100c | S+525 bp |
| P•••• C•••••• S•••••••• B•• C•••• | preferred equity equity Preferred Stock | n/a | $2.2M 112c |
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 | 5 | $36.5M | $34.1M | 100c | 0 |
| Mar 31, 2026 | 5 | $21.2M | $21.1M | 101c | 0 |
| Dec 31, 2025 | 4 | $28.6M | $26.1M | 101c | 0 |
| Sep 30, 2025 | 4 | $25.9M | $23.4M | 100c | 0 |
| Jun 30, 2025 | 3 | $22.0M | $19.5M | 101c | 0 |
| Mar 31, 2025 | 3 | $21.9M | $18.9M | 101c | 0 |
| Dec 31, 2024 | 3 | $43.9M | $38.0M | 101c | 0 |
| Sep 30, 2024 | 1 | $4.9M | $4.8M | 100c | 0 |
| Jun 30, 2024 | 1 | $5.0M | $4.9M | 100c | 0 |
| Mar 31, 2024 | 1 | $5.0M | $4.9M | 100c | 0 |
| Dec 31, 2023 | 2 | $0 | $0 | n/a | 0 |
| Sep 30, 2022 | 1 | $598,500 | $657,600 | 110c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Dec 31, 2025
- New lender joined a facilitySep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Facility left every BDC scheduleMar 31, 2025
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleSep 30, 2022
- New borrower on a BDC scheduleSep 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
- VENTUREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 6 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it