Trinity Capital, a specialty lending company that provides debt, including loans and equipment financing, finished 2021 with $248 million in new commitments in the fourth quarter, bringing total commitments for the year to a company record $757 million. In addition, Trinity Capital hired 10 new employees across multiple teams in 2021.

“Our 2021 results are reflective of the confidence we believe that growth-stage venture capital-backed companies have in us,” Kyle Brown, president and chief investment officer for Trinity Capital, said.

In addition to the company record in origination activity during the fourth quarter, Trinity Capital completed an unsecured bond offering of $75 million of 4.25% notes due 2026 and established an at-the-market (ATM) common stock offering program. Pursuant to the ATM program, Trinity Capital may, at its discretion and from time to time, sell up to an aggregate of $50 million of its common stock, and to date has sold 35,714 shares of common stock for net proceeds of $579,357. The bond offering and ATM program have provided Trinity with capital to continue to make investments in accordance with its investment objectives and strategy.

“Trinity continues to execute on all fronts, from record deployments to increasing our quarterly dividend and building value in our stock,” Steven Brown, chairman and CEO of Trinity Capital, said. “As we look forward to 2022, we believe our disciplined investment strategy will continue to create long-term value for our shareholders.”

During the quarter ended Dec. 31, 2021, Trinity Capital originated approximately $247.9 million of total new commitments, which was comprised of $174.2 million in secured loans, $72.3 million in equipment financings and $1.4 million in equity investments. Fourth quarter investments funded totaled approximately $197.5 million, which was comprised of $109.6 million in secured loans, $85.7 million in equipment financings and $2.2 million in warrant and equity investments. During Q4/21, the company funded $121 million to 11 new portfolio companies and $76.5 million to 14 existing portfolio companies. Proceeds received from repayments of the company’s debt investments during the fourth quarter totaled approximately $41.7 million, which included $24.6 million from early debt repayments. Net debt portfolio growth from investment activity for the quarter was approximately $153.6 million.

During the year ended Dec. 31, 2021, Trinity Capital originated approximately $757 million of total new commitments, of which secured loans totaled $515.9 million, equipment financing totaled $224.4 million and equity investments totaled $16.7 million. Annual investments funded totaled approximately $558.2 million, which was comprised of $402.1 million in secured loans, $134.6 million in equipment financings and $21.5 million in warrant and equity investments. During the year ended Dec. 31, 2021, the company funded $400.8 million to 33 new portfolio companies and $157.4 million to 23 existing portfolio companies. Proceeds received from repayments of the company’s debt investments during the year totaled approximately $264.4 million, which included $190.1 million from early debt repayments. Net debt portfolio growth from investment activity for the year ended Dec. 31, 2021, was approximately $272.3 million.