DFX Intelligence
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Borrower
V••••
group grade Boff every schedule since Dec 31, 2025sponsor unattributed
Also written as: V•••• Holdings, LLC
Nothing material in the last 200 days. Last change: 31 Dec 2025, Non-accrual at 1 of 1 lender on the latest schedules, first placed in Q2 2025.
Mark path, consensus per quarter end
85¢ · 85¢ · 88¢ · 64¢ · 61¢Q4 2024 to Q4 2025
Principal held
at least $8.8M
sum of BDC pieces, a lower bound
Fair value
$5.2M
61c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 30, 2027
$8.8M inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2025
Events
9
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C••••••••• C••••• P••••••• B•• I• I••• | $8.85M | 61¢ | -3 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••••••••• C••••• P••••••• B•• I• I••• | term loan first lien F•••• L••• S••••• S•••••• T••• L•••, C••••••••• & P••••••••• Services, S••••• A•••• I•••• | $8.1M | $4.8M 62c | SOFR+650 bp |
| C••••••••• C••••• P••••••• B•• I• I••• | revolver first lien F•••• L••• S••••• S•••••• R•••••••• Credit L••• , C••••••••• & P••••••••• Services, S••••• | $750,000 | $391,000 53c | SOFR+650 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $8.1M | 62c | SOFR+650 bp | Dec 30, 2027 | 1 |
| first lien revolver first lien exited Dec 31, 2025 | at least $750,000 | 53c | SOFR+650 bp | Dec 30, 2027 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | unknown | n/a | S+650 bp | Dec 30, 2027 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $8.8M | $5.2M | 61c | 0 |
| Sep 30, 2025 | 1 | $8.8M | $5.4M | 64c | 0 |
| Jun 30, 2025 | 1 | $8.8M | $7.5M | 88c | 0 |
| Mar 31, 2025 | 1 | $8.8M | $7.4M | 85c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $17.5M | $14.7M | 85c | 0 |
| Sep 30, 2024 | 1 | $8.5M | $7.1M | 84c | 0 |
| Jun 30, 2024 | 1 | $8.6M | $7.3M | 87c | 0 |
| Mar 31, 2024 | 1 | $8.6M | $7.1M | 85c | 0 |
| Dec 31, 2023 | 1 | $8.6M | $6.9M | 82c | 0 |
| Sep 30, 2023 | 1 | $8.2M | $7.5M | 92c | 0 |
| Jun 30, 2023 | 1 | $8.3M | $8.1M | n/a | 0 |
| Mar 31, 2023 | 1 | $8.3M | $8.1M | n/a | 0 |
| Dec 31, 2022 | 1 | $16.6M | $16.1M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Marked down across lendersSep 30, 2025
- Marked down across lendersSep 30, 2025
- Marked down (one lender)Sep 30, 2025
Full timeline · 13 eventsShow fewer
- Marked down (one lender)Sep 30, 2025
- Placed on non-accrualJun 30, 2025
- Facility left every BDC scheduleSep 30, 2024
- Mark recoveredMar 31, 2024
- Marked down across lendersDec 31, 2023
- Marked down across lendersDec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Dec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- VECTAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 1 BDCderived