Trinity Capital Inc
NASDAQ:TRIN
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Trinity Capital Inc
NASDAQ:TRIN
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Trinity Capital Inc
Trinity Capital Inc. is a specialty finance company that lends money to growing businesses, especially venture-backed companies and other firms that may not want or qualify for a traditional bank loan. It also makes equipment loans and leases, so customers can buy machinery, technology, and other assets without paying all at once. The company serves mainly small and mid-sized businesses, often in technology, life sciences, and other growth industries. Trinity makes money mostly from interest on its loans, lease payments, and fees tied to arranging and managing its financing deals. Because it focuses on private, often early-stage borrowers, it sits between banks and venture capital: it provides capital at a point when companies need funding to expand but may still be too risky or specialized for standard lenders. That makes its business more relationship-based and deal-driven than a typical bank. The company’s role is to supply flexible capital to businesses that need financing for growth, equipment, or working capital. Its business depends on underwriting risk carefully, structuring loans to match each borrower’s situation, and earning steady income from those lending relationships. For investors, Trinity is best understood as a lender to the innovation economy rather than a maker of products or a consumer-facing brand.
Trinity Capital Inc. is a specialty finance company that lends money to growing businesses, especially venture-backed companies and other firms that may not want or qualify for a traditional bank loan. It also makes equipment loans and leases, so customers can buy machinery, technology, and other assets without paying all at once. The company serves mainly small and mid-sized businesses, often in technology, life sciences, and other growth industries.
Trinity makes money mostly from interest on its loans, lease payments, and fees tied to arranging and managing its financing deals. Because it focuses on private, often early-stage borrowers, it sits between banks and venture capital: it provides capital at a point when companies need funding to expand but may still be too risky or specialized for standard lenders. That makes its business more relationship-based and deal-driven than a typical bank.
The company’s role is to supply flexible capital to businesses that need financing for growth, equipment, or working capital. Its business depends on underwriting risk carefully, structuring loans to match each borrower’s situation, and earning steady income from those lending relationships. For investors, Trinity is best understood as a lender to the innovation economy rather than a maker of products or a consumer-facing brand.
Strong quarter: Trinity Capital reported record net asset value of $1.2 billion, up 7% quarter-over-quarter and 40% year-over-year, while investment income and net investment income both remained strong.
Dividend covered: Net investment income was $0.53 per share, covering the quarterly distribution by 104%, and estimated undistributed taxable income was about $68 million, or $0.78 per share.
Managed funds grow: The managed funds platform added meaningful scale, contributing $0.04 per share to quarterly net investment income and reaching $400 million of AUM across 4 vehicles.
Credit stayed solid: Nonaccruals were about 1% of the portfolio at fair value, with 99% of debt investments performing at fair value and leverage easing to 1.15x.
AI exposure disciplined: Management said it is not chasing AI venture bets; it is focused on equipment financing and lower middle market businesses tied to AI infrastructure such as GPUs, CPUs and power assets.
Capital strategy: Trinity is leaning further into off-balance-sheet vehicles, including a new SBIC fund and a Capital Southwest joint venture, to add income and expand capacity without issuing more TRIN shares.