SuRo Capital

What SuRo Capital does

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded Business Development Company founded in 2011 (originally as GSV Capital) that invests in high-growth, venture-backed private companies. Headquartered across offices in New York and San Francisco, the firm operates with a small team of 1-10 employees and pursues a dual-track investment strategy: direct primary financing in late-stage private funding rounds, and secondary-market purchases from early employees, founders, and other private shareholders seeking liquidity. The portfolio is anchored by high-profile consumer, fintech, and AI-infrastructure names including OpenAI, CoreWeave, Canva, WHOOP, Plaid, VAST Data, ServiceTitan, and Palantir.

The fund's business model is structured around NAV appreciation and episodic realized gains rather than recurring fee revenue. Internally managed since inception, it historically paid management-fee-equivalent compensation out of operating income and distributed variable dividends tied to realized portfolio gains; no dividends were paid during 2022-2024. As of Q1 2026, NAV was $14.24 per share, up 76% QoQ from $8.09 — the largest quarterly NAV increase in the fund's history. Distribution to investors is uniquely achieved through public stock trading on Nasdaq, making private-company exposure accessible to retail and institutional investors via standard brokerage accounts, with institutional ownership at 12.95%.

In April 2026, SuRo Capital announced a strategic transition to an externally managed structure through Neostellar Advisors LLC (a joint venture with Magnetar Holdings), anchored by a $20 million investment from a Magnetar affiliate. The transition, subject to shareholder approval on June 10, 2026, will rebrand the entity to Neostellar Capital Corp. effective July 1, 2026 — a structural pivot toward scaling deal-flow, likely accelerating investment pace beyond what the small internal team has historically executed.

Name

SuRo Capital

Legal name

SuRo Capital Corp.

Website

https://surocap.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded business development company that invests in late-stage, venture-backed private companies via primary and secondary transactions. It provides retail and institutional investors liquid public-market access to a concentrated portfolio of high-growth private names across AI, fintech, and consumer.

Ownership category

akta.pro rank

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Management: As a publicly traded BDC (Business Development Company), SuRo Capital generates returns through appreciation in portfolio company valuations, successful exits, and dividends tied to portfolio performance and realized gains. The fund historically operated with management fees and carried interest structures, with a transition to externally managed structure in 2026.
2. Dividend Distributions: The company pays cyclical dividends tied to successful exits and portfolio performance rather than stable recurring income. No dividends were paid during 2022-2024 period. Current yield of approximately 5.3% based on recent share price and NAV.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund and Business Development Company that invests in high-growth, venture-backed private companies through direct primary financing rounds and secondary market transactions. The fund holds a portfolio of late-stage private companies across AI infrastructure, fintech, consumer brands, and SaaS, offering retail and institutional investors liquid public-market access to venture capital exposure typically reserved for private fund participants.

Product overview

SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund creates a portfolio of high-growth, emerging private companies via a repeatable and disciplined investment approach, providing investors access to such companies through its publicly traded common stock. The company announced a strategic transition from an internally managed BDC to an externally managed structure through Neostellar Advisors LLC, a joint venture with Magnetar Holdings LLC, effective July 1, 2026, with rebranding to Neostellar Capital Corp. SuRo Capital does not offer distinct software products or technology services—the firm is an investment vehicle, not a product company.

Differentiator

Problem solved

Functional benefit

Products and services

• SuRo Capital publicly traded common stock (Nasdaq: SSSS) Common stock of SuRo Capital Corp. traded on Nasdaq under ticker SSSS, providing retail and institutional investors liquid public-market access to a portfolio of late-stage, venture-backed private companies across AI infrastructure, fintech, consumer brands, and SaaS sectors.
• Direct primary financing for late-stage private companies Primary capital provision to late-stage, venture-backed private companies seeking growth financing through direct primary financing rounds, executed by the SuRo Capital Investments team.
• Secondary share purchase liquidity for private shareholders Secondary market share purchases from founders, early employees, and other private shareholders of late-stage, venture-backed private companies, providing liquidity events for sellers while adding exposure to SuRo Capital's portfolio.

Quantifiable outcome

• 76% quarter-over-quarter NAV increase in Q1 2026
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Neostellar Advisors LLCflagshipStrategic or Co-development Partner · 6 May 2026Neostellar Advisors LLC is a joint venture partner with Magnetar Holdings LLC formed to externally manage SuRo Capital. This represents a strategic transition from an internally managed BDC to an externally managed structure, subject to shareholder approval on June 10, 2026, with rebranding to Neostellar Capital Corp. effective July 1, 2026.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Hercules Capital: Hercules Capital (NYSE: HTGC) is the largest publicly traded specialty finance company focused on venture-backed, growth-stage technology and life sciences companies. Like SuRo, it is structured as a BDC and provides capital to late-stage private companies, making it the closest direct comparably in business model and target market.
• Horizon Technology Finance: Horizon Technology Finance (Nasdaq: HRZN) is a BDC that lends to development-stage technology, life science, healthcare, and sustainability companies. It shares SuRo's focus on venture-backed innovation businesses and uses a similar BDC structure, with comparable funding dynamics tied to private company growth.
• BlackRock TCP Capital Corp: BlackRock TCP Capital (Nasdaq: TCPC) is an externally managed BDC focused on lending to middle-market and growth-stage companies. Like SuRo, it relies on NAV-driven valuation, pursues private company exposure, and operates under a sponsor-affiliated management structure relevant to SuRo's pending Magnetar transition.
• TriplePoint Venture Growth BDC: TriplePoint Venture Growth (NYSE: TPVG) is a BDC that lends to venture growth-stage companies backed by top-tier VC firms, with a similar late-stage private company focus to SuRo Capital. Both target venture-backed technology businesses and operate as publicly traded vehicles with comparable NAV-based valuation dynamics.
• Gladstone Investment Corporation: Gladstone Investment (Nasdaq: GAIN) is a publicly traded BDC that invests in mature private businesses with structured equity and debt instruments. Comparable to SuRo Capital in BDC structure, NAV-based valuation framework, and focus on private company exposure, though SuRo skews more venture-stage.
• Trinity Capital: Trinity Capital (Nasdaq: TRIN) is a specialty BDC providing debt and equipment financing to growth-stage companies, including venture-backed tech businesses. Like SuRo, it operates a publicly traded BDC structure with NAV per share as the central performance metric and emphasizes late-stage private company exposure.
• Saratoga Investment Corp: Saratoga Investment Corp (NYSE: SAR) is a specialty finance BDC providing customized financing solutions to middle-market and pre-IPO companies. Comparable to SuRo in BDC structure, NAV-based valuation, and exposure to growth-oriented private issuers.

Broad incumbents

• KKR & Co. KKR (NYSE: KKR) is a global publicly traded alternative asset manager with extensive private equity, credit, and infrastructure businesses. While much larger and broader than SuRo, KKR is relevant as a public-market comp for the externally managed structure SuRo is moving toward under the Neostellar/Magnetar JV.
• Ares Capital Corporation: Ares Capital (Nasdaq: ARCC) is the largest publicly traded BDC, providing financing to middle-market private companies through a broader portfolio than SuRo Capital. As a broad incumbent in the BDC space, it offers reference scale and structure for SuRo's externally managed transition under the Magnetar-affiliated Neostellar.
• Main Street Capital: Main Street Capital (NYSE: MAIN) is a large internally managed BDC focused on lower middle-market companies with a dividend-focused model. It shares SuRo's BDC structure and NAV framework but operates at significantly larger scale and a more income-oriented strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/surocapital
• LinkedInlinkedin.com/company/surocapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments78 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SuRo Capital