Trinity Capital
Trinity Capital is a Nasdaq-listed, internally managed Business Development Company that provides venture debt, equipment financing, and growth capital to growth-stage companies across five verticals — tech, equipment, healthcare & life sciences, sponsor finance, and asset-based lending. It manages $2.9 billion in AUM across 470 investments since inception.
- Company typePublic
- Founded2008
- HeadquartersPhoenix, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Trinity Capital does
Trinity Capital Inc. is a Phoenix-headquartered, Nasdaq-listed (TRIN) internally managed Business Development Company founded in 2008. It is structured as an alternative asset manager providing private credit to growth-stage companies through five dedicated verticals: Tech Lending, Equipment Financing, Healthcare & Life Sciences, Sponsor Finance, and Asset Based Lending. The company deploys non-dilutive capital in the form of venture debt, growth capital loans, equipment leases, and asset-based facilities, with typical individual commitments of $5–$50 million. As of March 31, 2026, Trinity reported $5.7 billion in cumulative fundings across 470 investments since inception and $2.9 billion in assets under management, with $2.42 billion of total investments at fair value, $1.094 billion of net assets, and a 0.7% non-accrual rate.
Revenue is generated primarily through interest income on secured loans, equipment financings, and other debt instruments, supplemented by fee income from SBIC-managed third-party capital and warrant/equity upside in portfolio companies. Trinity funds its balance sheet through diversified channels: a $690 million KeyBank-led revolving credit facility with a 13-bank syndicate, a ladder of unsecured notes (notably a $300 million 7.0% issuance due 2031 priced in May 2026), SBA-guaranteed debentures through three SBIC-licensed funds, and public equity via ATM and follow-on offerings. The company pays a monthly dividend of $0.17 per share (~12–14% yield), with dividend coverage of 102% in Q4 2025 and 104% in Q1 2026, and carries a Baa3 investment grade rating from Moody's assigned in May 2025.
In 2026 Trinity executed a series of platform-expanding moves: it acquired Equipment Leasing Services (May 2026), formed a $100 million 50/50 joint venture with Capital Southwest (March 2026), received SBA approval for its third SBIC fund (Trinity Capital SBIC LP, up to $175 million of SBA-guaranteed debentures), and expanded UK originations through growth-capital commitments to Dwelly and Motorway. The company serves institutional investors, wealth professionals, and public shareholders as distribution channels, while its direct-lending origination is executed bilaterally by vertical-specialized investment teams.
Trinity Capital firmographics
Firmographics- Name
- Trinity Capital
- Legal name
- Trinity Capital Inc.
- Website
- https://trinitycap.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Trinity Capital is a Nasdaq-listed, internally managed Business Development Company that provides venture debt, equipment financing, and growth capital to growth-stage companies across five verticals — tech, equipment, healthcare & life sciences, sponsor finance, and asset-based lending. It manages $2.9 billion in AUM across 470 investments since inception.
- Ownership category
- akta.pro rank
Trinity Capital industry classification
Industry- Product category
- Private Credit / Business Development Company
- NAICS
- Other Financial Investment Activities (5239)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- BDC / Public Vehicle Venture Debt Providers (FSANAIAC)
Keywords
Where Trinity Capital is headquartered
LocationHeadquarters
- HQ city
- Phoenix
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Trinity Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income from Debt Investments: Trinity Capital generates interest income from secured loans, equipment financings, and other debt instruments extended to portfolio companies. As a BDC, it invests primarily in private credit opportunities including venture debt, equipment leases, and growth capital loans to growth-stage companies.
- Equipment Financing: Equipment finance portfolio generates recurring income through leases and loans secured by equipment. The company surpassed $1 billion in equipment finance fundings and reached $336.8 million in equipment finance portfolio as of Q4 2025.
- Warrant and Equity Investment Returns: The company holds warrants and equity stakes in portfolio companies, generating realized and unrealized gains. Total investments at fair value reached $2.42 billion in Q4 2025.
- Fee-Based Third-Party Asset Management: The company earns management fees from sponsored investment funds including its SBIC funds, generating platform scalability and fee-based earnings potential.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Monthly dividend of $0.17 per share for Q3 2026 |
| Other | Pay-as-you-go | Net Investment Income Q4 2025: $0.52 per share; Q1 2026: $0.53 per share |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Trinity Capital product offering
Product offeringCore offering
Trinity Capital is an internally managed Business Development Company (BDC) that provides venture debt, equipment financing, and growth capital to growth-stage companies across five distinct verticals: Tech Lending, Equipment Financing, Healthcare & Life Sciences, Sponsor Finance, and Asset Based Lending. The company invests primarily in private credit opportunities through secured loans, equipment leases, and growth capital loans.
Product overview
Trinity Capital is an international alternative asset manager and internally managed Business Development Company (BDC) that provides a diversified suite of private credit solutions to growth-stage companies. Its offering is organized around five distinct investment verticals — Tech Lending, Equipment Financing, Healthcare & Life Sciences, Sponsor Finance, and Asset Based Lending — each targeting different sectors and company stages. The company also operates a subsidiary fund (Trinity Capital SBIC LP) holding an SBA SBIC license, enabling access to SBA-guaranteed leverage. In May 2026, Trinity Capital expanded its platform through the acquisition of Equipment Leasing Services (ELS), a 25+ year-old equipment finance provider operating as a standalone portfolio company. As of March 31, 2026, Trinity Capital had deployed over $5.7 billion in fundings across approximately 470 investments since inception, with $2.9 billion in assets under management.
Differentiator
Problem solved
Functional benefit
Products and services
- Tech Lending Provides venture debt and growth capital loans to growth-stage technology companies.
- Equipment Financing Provides equipment leases and financing to equipment-intensive businesses.
- Healthcare & Life Sciences Provides venture debt and growth capital to companies in the healthcare and life sciences sectors.
- Sponsor Finance Provides debt financing to private equity-backed companies across sponsor-led transactions.
- Asset Based Lending Provides asset-based loans secured by collateral such as receivables, inventory, or other balance sheet assets.
Companies that use Trinity Capital
Customer profileNamed customers14 records
Segments6 records
Ideal customer profiles5 records
Trinity Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Trinity Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Equipment Leasing Services (ELS)coreAcquisition of Equipment Leasing Services, a Phoenix-based equipment leasing company operating over 25 years serving manufacturing, aerospace, transportation, and construction markets in Southwest US. ELS will continue operating as standalone portfolio company under existing leadership.
Scale indicators20 records
Recent moves7 records
Expansion highlights6 records
Trinity Capital competitors and assessment
Company assessmentDirect peers
- Hercules Capital: Hercules Capital is the largest publicly traded venture debt BDC, providing senior secured loans to venture-backed technology, healthcare, and life sciences companies. Closest direct competitor to Trinity Capital with a similar growth-stage lending model, vertical specialization, and dividend-focused shareholder base.
- Horizon Technology Finance: Horizon Technology Finance is a publicly traded specialty finance BDC focused on venture debt to technology, life science, and cleantech companies. Directly comparable to Trinity Capital's Tech Lending and Healthcare & Life Sciences verticals with similar deal sizes and growth-stage borrower profile.
- Capital Southwest: Capital Southwest is an internally managed BDC focused on first-lien debt and equity to lower middle market companies. Recently formed a $100M joint venture with Trinity Capital and shares a similar diversified debt-focused investment model.
- Runway Growth Finance: Runway Growth Finance is a publicly traded BDC providing senior secured loans to venture and non-venture-backed growth-stage companies. Highly comparable to Trinity Capital's growth capital and venture debt focus across technology and consumer sectors.
- Saratoga Investment Corp: Saratoga Investment Corp is a publicly traded BDC providing leveraged loans and other debt to middle market and growth-stage companies. Comparable to Trinity's lower middle market and Sponsor Finance verticals with similar specialty finance positioning.
- Sixth Street Specialty Lending: Sixth Street Specialty Lending (TSLX) is a publicly traded BDC affiliated with Sixth Street providing senior secured loans to mid-market and growth-stage companies. Comparable to Trinity's diversified debt strategy with similar investment grade quality and premium valuation characteristics.
- WhiteHorse Finance: WhiteHorse Finance is a publicly traded BDC providing senior secured loans to lower middle market companies. Comparable to Trinity Capital's lower middle market positioning and Sponsor Finance vertical with similar deal size focus.
Broad incumbents
- Oaktree Specialty Lending: Oaktree Specialty Lending (OCSL) is a large publicly traded BDC managed by Oaktree Capital providing senior loans to mid-market companies. Broader incumbent in the BDC space with less specialization in venture debt but otherwise directly comparable investment model.
- Ares Capital Corp: Ares Capital Corp (ARCC) is the largest publicly traded BDC providing senior and mezzanine debt to middle market companies. Broad incumbent competitor representing the scale leader that Trinity Capital aspires to compete against, but with less venture-stage specialization.
- Golub Capital BDC: Golub Capital BDC is a large publicly traded BDC sponsored by Golub Capital providing one-stop loans to mid-market companies. Broad incumbent competitor with overlapping middle market lending but different focus than Trinity's venture debt specialization.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights7 records
Customer concentration
Trinity Capital social profiles
Digital presenceTrinity Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trinity Capital leadership team
Management profileNumber of profiles
Profiles4 records
Trinity Capital subsidiaries and ownership
Company hierarchySubsidiaries3 records
Trinity Capital funding detail
Funding detailFunding overview
Funding rounds10 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trinity Capital M&A and investment
M&A and investmentM&A1 record
Investments189 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trinity Capital
What does Trinity Capital do?
Trinity Capital is an internally managed Business Development Company (BDC) that provides venture debt, equipment financing, and growth capital to growth-stage companies across five distinct verticals: Tech Lending, Equipment Financing, Healthcare & Life Sciences, Sponsor Finance, and Asset Based Lending. The company invests primarily in private credit opportunities through secured loans, equipment leases, and growth capital loans.
Is Trinity Capital a public or private company?
Trinity Capital is a public company. It is classified as public and is currently operating.
When was Trinity Capital founded?
Trinity Capital was founded in 2008. It employs 101 to 250 people.
Where is Trinity Capital based?
Trinity Capital is headquartered in Phoenix, United States, in the North America region.
How does Trinity Capital make money?
Four revenue lines are on record. Interest Income from Debt Investments are the primary driver. The others are equipment Financing, warrant and Equity Investment Returns and fee-Based Third-Party Asset Management.
Who are Trinity Capital's main competitors?
Direct peers on record are Hercules Capital, Horizon Technology Finance, Capital Southwest, Runway Growth Finance, Saratoga Investment Corp, Sixth Street Specialty Lending and WhiteHorse Finance. Broad incumbents are Oaktree Specialty Lending, Ares Capital Corp and Golub Capital BDC.
Does Trinity Capital have an API?
No public API is recorded for Trinity Capital.
What industry is Trinity Capital in?
Trinity Capital's product category is Private Credit / Business Development Company. Its primary akta.pro industry code is FSANAIAC, BDC / Public Vehicle Venture Debt Providers. Its NAICS code is 5239 and its SIC code is 6159.