Trinity Capital, a provider of financing solutions to growth-stage companies, launched a new vehicle in partnership with Eagle Point Credit Management. Trinity’s wholly owned registered investment adviser will be an adviser to the new vehicle, thereby bolstering the company’s sources of capital for lending and generating non-capital-intensive fee income.

The vehicle is being capitalized with an equity commitment of $60 million and has the ability to use leverage. It is intended for the vehicle to ultimately be converted into a private business development company (BDC).

“This new vehicle gives Trinity another source of capital to provide financing solutions to growth-stage companies, while driving fee income to Trinity and increasing value to our shareholders,” Kyle Brown, CEO of Trinity, said. “We’ve worked closely with Eagle Point Credit over the past few years and have seen first-hand their thoughtful investment acumen and approach. We’re very excited to expand our relationship with this new opportunity.”

The vehicle is generally expected to invest ratably in opportunities originated by the Trinity platform, which has a 16-year track record and originations, underwriting and portfolio management teams across five distinct verticals — tech lending, equipment finance, life sciences, warehouse lending and sponsor finance. The vehicle will help fuel the deployment trajectory of Trinity, which saw record-breaking funding numbers during the first half of 2024.

“We are thrilled to expand on our partnership with such a strong growth-stage lender,” Thomas P. Majewski, founder and managing partner of Eagle Point Credit, said. “We have been impressed by Trinity’s track record and view the company as a key player in the growth lending space.”