Hercules Capital (HTGC) 10-K 13 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 06, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	814-00702
Entity Registrant Name	HERCULES CAPITAL, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	74-3113410
Entity Address, Address Line One	1 North B Street
Entity Address, Address Line Two	Suite 2000
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94401
City Area Code	650
Local Phone Number	289-3060
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers, LLP
Auditor Location	San Francisco, CA
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 3,260
Entity Common Stock, Shares Outstanding		173,154,658
Documents Incorporated By Reference	Portions of the registrant’s Proxy Statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A in connection with the registrant's 2025 Annual Meeting of Stockholders, which will be filed subsequent to the date hereof, are incorporated by reference into Part III of this Annual Report on Form 10-K. Such proxy statement will be filed with the Securities and Exchange Commission not later than 120 days following the end of the registrant's fiscal year ended December 31, 2024.
Entity Central Index Key	0001280784
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock Par Value $0.001 Per Share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	HTGC
Security Exchange Name	NYSE
6.25% Notes Due 2033
Document Information [Line Items]
Title of 12(b) Security	6.25% Notes due 2033
Trading Symbol	HCXY
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF ASSE

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Investments, at fair value:	$ 3,659,978	$ 3,248,046
Cash and cash equivalents	42,679	98,095
Foreign cash (cost of $70,445 and $842, respectively)	70,445	804
Restricted cash (amounts related to a VIE $3,297 and $17,114, respectively)	3,297	17,114
Interest receivable	32,578	32,741
Right of use asset	16,778	4,787
Other assets	5,836	15,339
Total assets	3,831,591	3,416,926
Liabilities
Debt (net of unamortized debt issuance costs of $14,310 and $15,131, respectively; amounts related to a VIE $118,769 and $148,544, respectively)	1,768,955	1,554,869
Accounts payable and accrued liabilities	54,861	54,156
Operating lease liability	18,194	5,195
Total liabilities	1,842,010	1,614,220
Commitments and Contingencies
Net assets consist of:
Common stock, par value	171	158
Capital in excess of par value	1,900,490	1,662,535
Total distributable earnings	88,920	140,013
Total net assets	1,989,581	1,802,706
Total liabilities and net assets	$ 3,831,591	$ 3,416,926
Shares of common stock outstanding ($0.001 par value and 300,000 and 200,000 authorized respectively) (in shares)	170,575	157,758
Net asset value per share (in dollars per share)	$ 11.66	$ 11.43
Non-control/Non-affiliate investments
Assets
Investments, at fair value:	$ 3,546,799	$ 3,133,042
Control investments
Assets
Investments, at fair value:	$ 113,179	$ 115,004

CONSOLIDATED STATEMENTS OF AS_2

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Investment cost	$ 3,708,877	$ 3,247,033
Cash and cash equivalents, held in foreign currency, cost basis	70,445	842
Restricted cash	3,297	17,114
Debt issuance cost, net of accumulated amortization	14,310	15,131
Net of debt issuance costs	$ 1,768,955	$ 1,554,869
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	300,000	200,000
Non-control/Non-affiliate investments
Investment cost	$ 3,603,961	$ 3,143,851
Control investments
Investment cost	104,916	103,182
VIE
Investment cost	229,486	254,868
Restricted cash	3,297	17,114
Net of debt issuance costs	$ 118,769	$ 148,544

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investment income:
Total interest and dividend income, excluding PIK interest income	$ 415,925	$ 409,755	$ 286,803
Total PIK interest income	51,270	24,670	20,455
Total interest and dividend income	467,195	434,425	307,258
Total fee income	26,396	26,243	14,430
Total investment income	493,591	460,668	321,688
Operating expenses:
Interest	77,151	67,620	54,749
Loan fees	8,807	9,845	7,598
General and administrative	19,672	18,696	16,948
Tax expenses	5,835	6,071	5,416
Employee compensation:
Compensation and benefits	54,233	50,258	43,852
Stock-based compensation	12,841	13,242	13,378
Total employee compensation	67,074	63,500	57,230
Total gross operating expenses	178,539	165,732	141,941
Expenses allocated to the Adviser Subsidiary	(10,780)	(9,101)	(8,321)
Total net operating expenses	167,759	156,631	133,620
Net investment income	325,832	304,037	188,068
Net realized gain (loss):
Loss on extinguishment of debt	(171)	0	(3,686)
Total net realized gain (loss)	(31,657)	8,437	(924)
Net change in unrealized appreciation (depreciation):
Total net change in unrealized appreciation (depreciation)	(31,209)	25,010	(85,063)
Total net realized gain (loss) and net change in unrealized appreciation (depreciation)	(62,866)	33,447	(85,987)
Net increase (decrease) in net assets resulting from operations	$ 262,966	$ 337,484	$ 102,081
Net investment income before gains and losses per common share:
Basic (in dollars per share)	$ 2	$ 2.09	$ 1.48
Change in net assets resulting from operations per common share:
Basic (in dollars per share)	1.61	2.32	0.80
Diluted (in dollars per share)	$ 1.61	$ 2.31	$ 0.79
Weighted average shares outstanding:
Basic (in shares)	161,082	144,091	125,189
Diluted (in shares)	161,599	144,826	126,659
Distributions paid per common share:
Basic (in dollars per share)	$ 1.92	$ 1.90	$ 1.97
Non-control/Non-affiliate investments
Investment income:
Total interest and dividend income, excluding PIK interest income	$ 404,091	$ 405,113	$ 282,174
Total PIK interest income	49,701	24,670	19,259
Total fee income	26,250	26,148	14,362
Net realized gain (loss):
Net realized gain (loss)	(31,486)	8,437	1,004
Net change in unrealized appreciation (depreciation):
Total net change in unrealized appreciation (depreciation)	(27,650)	2,376	(88,874)
Control investments
Investment income:
Total interest and dividend income, excluding PIK interest income	11,834	4,642	4,621
Total PIK interest income	1,569	0	0
Total interest and dividend income	13,403
Total fee income	146	95	68
Total investment income	13,549	4,737
Net realized gain (loss):
Net realized gain (loss)	0	0	0
Net change in unrealized appreciation (depreciation):
Total net change in unrealized appreciation (depreciation)	(3,559)	22,634	(278)
Affiliate investments
Investment income:
Total interest and dividend income, excluding PIK interest income	0	0	8
Total PIK interest income	0	0	1,196
Net realized gain (loss):
Net realized gain (loss)	0	0	1,758
Net change in unrealized appreciation (depreciation):
Total net change in unrealized appreciation (depreciation)	$ 0	$ 0	$ 4,089

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		157,758,000
Beginning balance		$ 1,802,706	$ 1,401,459	$ 1,308,547
Net increase in net assets resulting from operations		$ 262,966	$ 337,484	$ 102,081
Public offering, net of offering expenses (in shares)		11,700,000	22,700,000	14,600,000
Public offering, net of offering expenses		$ 218,329	$ 338,215	$ 229,659
Issuance of common stock under equity-based award plans		3,068	495	1,484
Shares retired on vesting of equity-based awards		$ (6,498)	$ (13,197)	(6,016)
Issuance of Convertible Notes				$ 0
Distributions reinvested in common stock (in shares)		471,949	303,960	259,466
Distributions reinvested in common stock		$ 8,769	$ 4,624	$ 3,953
Distributions		(312,244)	(278,301)	(249,077)
Stock-based compensation	[1]	$ 12,485	$ 11,927	10,828
Ending balance (in shares)		170,575,000	157,758,000
Ending balance		$ 1,989,581	$ 1,802,706	$ 1,401,459
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		157,758,000	133,045,000	116,619,000
Beginning balance		$ 158	$ 134	$ 117
Public offering, net of offering expenses (in shares)		11,725,000	22,728,000	14,559,000
Public offering, net of offering expenses		$ 12	$ 22	$ 15
Issuance of common stock under equity-based award plans (in shares)		1,040,000	1,932,000	922,000
Issuance of common stock under equity-based award plans		$ 1	$ 2	$ 1
Shares retired on vesting of equity-based awards (in shares)		(419,000)	(251,000)	(295,000)
Issuance of Convertible Notes (in shares)				981,000
Issuance of Convertible Notes				$ 1
Distributions reinvested in common stock (in shares)		471,000	304,000	259,000
Distributions		$ (309,413)	$ (275,548)	$ (246,873)
Ending balance (in shares)		170,575,000	157,758,000	133,045,000
Ending balance		$ 171	$ 158	$ 134
Capital in excess of par value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		1,662,535	1,341,416	1,091,907
Public offering, net of offering expenses		218,317	338,193	229,644
Issuance of common stock under equity-based award plans		3,067	493	1,483
Shares retired on vesting of equity-based awards		(6,498)	(13,197)	(6,016)
Issuance of Convertible Notes				(1)
Distributions reinvested in common stock		8,769	4,624	3,953
Stock-based compensation	[1]	12,485	11,927	10,828
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles		1,815	(20,921)	9,618
Ending balance		1,900,490	1,662,535	1,341,416
Distributable Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		140,013	59,909	216,523
Net increase in net assets resulting from operations		262,966	337,484	102,081
Distributions		(312,244)	(278,301)	(249,077)
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles		(1,815)	20,921	(9,618)
Ending balance		$ 88,920	$ 140,013	$ 59,909
[1] Stock-based compensation includes $143 thousand, $117 thousand, and $149 thousand of restricted stock and option expense related to director compensation for the years ended December 31, 2024, 2023 and 2022, respectively.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Restricted stock and option expense related to director compensation	$ 143	$ 117	$ 149

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
Cash flows provided by (used in) operating activities:
Net increase (decrease) in net assets resulting from operations		$ 262,966		$ 337,484	$ 102,081
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of investments		(1,542,447)	[1]	(1,598,584)	(1,465,035)
Fundings assigned to Adviser Funds		118,379	[1]	350,686	330,164
Principal and fee repayments received and proceeds from the sale of debt investments		955,682		1,002,433	530,441
Proceeds from the sale of equity and warrant investments		49,438		43,202	15,201
Net change in unrealized (appreciation) depreciation		31,209		(25,010)	85,063
Net realized (gain) loss		31,486		(8,437)	(2,762)
Payments for derivative instruments		(849)		0	0
Accretion of paid-in-kind interest		(51,270)		(24,670)	(20,455)
Accretion of loan discounts		(4,636)		(6,939)	(4,697)
Accretion of loan discount on convertible notes		0		0	112
Loss on extinguishment of debt		171		0	364
Accretion of loan exit fees		(26,655)		(24,961)	(24,532)
Change in loan income, net of collections		23,509		23,796	26,687
Unearned fees related to unfunded commitments		(400)		(2,650)	2,201
Amortization of debt fees and issuance costs		6,956		6,980	5,562
Depreciation and amortization		466		190	204
Stock-based compensation and amortization of restricted stock grants	[2]	12,485		11,927	10,828
Change in operating assets and liabilities:
Interest receivable		62		(1,050)	(14,212)
Other assets		1,672		(22,466)	406
Accrued liabilities		13,688		6,347	(2,420)
Net cash provided by (used in) operating activities		(118,088)		68,278	(424,799)
Cash flows provided by (used in) investing activities:
Purchases of capital equipment		(705)		(887)	(114)
Net cash (used in) investing activities		(705)		(887)	(114)
Cash flows provided by (used in) financing activities:
Issuance of common stock		220,875		344,347	232,090
Offering expenses		(2,546)		(6,132)	(2,431)
Retirement of employee shares, net		(3,430)		(12,702)	(4,532)
Distributions paid		(303,475)		(273,677)	(245,124)
Issuance of debt		1,332,154		659,000	1,274,237
Repayment of debt		(1,118,525)		(683,000)	(931,198)
Debt issuance costs		(4,282)		0	(6,742)
Fees paid for credit facilities		(1,570)		(5,090)	(1,776)
Net cash provided by (used in) financing activities		119,201		22,746	314,524
Net increase (decrease) in cash, cash equivalents, foreign cash and restricted cash		408		90,137	(110,389)
Cash, cash equivalents, foreign cash and restricted cash at beginning of period		116,013		25,876	136,265
Cash, cash equivalents, foreign cash and restricted cash at end of period		116,421		116,013	25,876
Supplemental disclosures of cash flow information and non-cash investing and financing activities:
Interest paid		77,850		67,149	52,075
Income tax, including excise tax, paid		5,253		5,267	7,376
Distributions reinvested		$ 8,769		$ 4,624	$ 3,953
[1] Excluded from the amounts presented are certain investment funding allocations of $264.8 million, which were directly funded by the Adviser Funds during the year ended December 31, 2024. Refer to Note 13 – Related Party Transaction for additional information. Stock-based compensation includes $143 thousand, $117 thousand, and $149 thousand of restricted stock and option expense related to director compensation for the years ended December 31, 2024, 2023, and 2022, respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Related Party Transaction [Line Items]
Restricted stock and option expense related to director compensation	$ 143
Cash and cash equivalents	42,679
Cash and cash equivalents, held in foreign currency	70,445
Restricted cash	3,297
Total cash, cash equivalents, foreign cash and restricted cash presented in the Consolidated Statements of Cash Flows	116,421
Advisor Funds
Related Party Transaction [Line Items]
Investment fundings assigned to, directly originated or funded by the Advisor Funds	$ 264,800

CONSOLIDATED SCHEDULE OF INVEST

CONSOLIDATED SCHEDULE OF INVESTMENTS £ in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2024 USD ($) shares		Dec. 31, 2023 USD ($) shares		Dec. 31, 2024 GBP (£) shares		Dec. 31, 2023 GBP (£) shares
Summary of Investment Holdings
Basis spread variable rate		7.50%				7.50%
Investment cost		$ 3,708,877		$ 3,247,033
Investments, at fair value:		3,659,978		$ 3,248,046
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and AmplifyBio, LLC, Warrant, Acquisition Date 12/27/2022, Series Class A Units
Summary of Investment Holdings
Investment cost	[1],[2]	238
Investments, at fair value:	[1]	$ 151
Acquisition date	[1],[3]	Dec. 27, 2022
Shares (in shares) | shares	[1]	69,239				69,239
Investment, Identifier [Axis]: Debt Investment Healthcare Services, Other and Vida Health, Inc., Senior Secured, Maturity Date March 2026, 9.20% + Lower of (Prime - 3.25%) or 1.00%, Floor rate 9.20%, Cap rate 10.20%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[4]			2026-03				2026-03
Basis spread variable rate	[4],[5]			(3.25%)				(3.25%)
Interest rate floor	[4],[5]			9.20%				9.20%
Interest rate cap	[4],[5]			10.20%				10.20%
Interest rate paid in kind	[4],[5]			1%				1%
Exit fee rate	[4],[5]			4.95%				4.95%
Principal amount	[4]			$ 36,500
Investment cost	[4],[6]			36,352
Investments, at fair value:	[4]			$ 36,145
Investment, Identifier [Axis]: Debt Investment Information Services and Checkr Group, Inc., Senior Secured, August 2028, Prime + 1.45%, Floor rate 8.00%, PIK Interest 2.00%, 2.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8]			2028-08				2028-08
Basis spread variable rate	[5],[7],[8]			1.45%				1.45%
Interest rate floor	[5],[7],[8]			8%				8%
Interest rate paid in kind	[5],[7],[8]			2%				2%
Exit fee rate	[5],[7],[8]			2.75%				2.75%
Principal amount	[7],[8]			$ 47,621
Investment cost	[6],[7],[8]			47,460
Investments, at fair value:	[7],[8]			$ 49,382
Investment, Identifier [Axis]: Debt Investment Information Services and Saama Technologies, LLC, Senior Secured, July 2027, Prime + 0.70%, Floor rate 8.95%, PIK Interest 2.00%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8]			2027-07				2027-07
Basis spread variable rate	[5],[7],[8]			0.70%				0.70%
Interest rate floor	[5],[7],[8]			8.95%				8.95%
Interest rate paid in kind	[5],[7],[8]			2%				2%
Exit fee rate	[5],[7],[8]			2.95%				2.95%
Principal amount	[7],[8]			$ 11,725
Investment cost	[6],[7],[8]			11,627
Investments, at fair value:	[7],[8]			$ 11,876
Investment, Identifier [Axis]: Debt Investment Information Services and Signal Media Limited, Senior Secured, June 2025, Prime + 5.50%, Floor rate 9.00%, Cap rate 12.00%, 3.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2025-06				2025-06
Basis spread variable rate	[5],[9],[10]			5.50%				5.50%
Interest rate floor	[5],[9],[10]			9%				9%
Interest rate cap	[5],[9],[10]			12%				12%
Exit fee rate	[5],[9],[10]			3.45%				3.45%
Principal amount	[9],[10]			$ 5,400
Investment cost	[6],[9],[10]			5,364
Investments, at fair value:	[9],[10]			$ 5,392
Investment, Identifier [Axis]: Debt Investment Information Services and Yipit, LLC, Senior Secured, September 2026, 1-month SOFR +8.45%, Floor rate 9.35%
Summary of Investment Holdings
Maturity Date	[8],[11]			2026-09				2026-09
Basis spread variable rate	[5],[8],[11]			8.45%				8.45%
Interest rate floor	[5],[8],[11]			9.35%				9.35%
Principal amount	[8],[11]			$ 31,875
Investment cost	[6],[8],[11]			31,482
Investments, at fair value:	[8],[11]			$ 31,875
Investment, Identifier [Axis]: Debt Investment Software and Babel Street, Senior Secured, December 2027, 3-month SOFR + 7.89%, Floor rate 8.89%
Summary of Investment Holdings
Maturity Date	[8],[11],[12]			2027-12				2027-12
Basis spread variable rate	[5],[8],[11],[12]			7.89%				7.89%
Interest rate floor	[5],[8],[11],[12]			8.89%				8.89%
Principal amount	[8],[11],[12]			$ 45,000
Investment cost	[6],[8],[11],[12]			43,983
Investments, at fair value:	[8],[11],[12]			$ 44,928
Investment, Identifier [Axis]: Debt Investment Software and Brain Corporation, Senior Secured, April 2026, Prime + 3.70%, Floor rate 9.20%, PIK Interest 1.00%, 3.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[12],[13]			2026-04				2026-04
Basis spread variable rate	[5],[7],[8],[12],[13]			3.70%				3.70%
Interest rate floor	[5],[7],[8],[12],[13]			9.20%				9.20%
Interest rate paid in kind	[5],[7],[8],[12],[13]			1%				1%
Exit fee rate	[5],[7],[8],[12],[13]			3.95%				3.95%
Principal amount	[7],[8],[12],[13]			$ 30,415
Investment cost	[6],[7],[8],[12],[13]			30,678
Investments, at fair value:	[7],[8],[12],[13]			$ 30,989
Investment, Identifier [Axis]: Debt Investment Software and Campaign Monitor Limited, Senior Secured, November 2025, 3-month SOFR + 9.05%, Floor rate 9.90%
Summary of Investment Holdings
Maturity Date	[13],[14]			2025-11				2025-11
Basis spread variable rate	[5],[13],[14]			9.05%				9.05%
Interest rate floor	[5],[13],[14]			9.90%				9.90%
Principal amount	[13],[14]			$ 33,000
Investment cost	[6],[13],[14]			32,706
Investments, at fair value:	[13],[14]			$ 33,000
Investment, Identifier [Axis]: Debt Investment Software and Catchpoint Systems, Inc., Senior Secured, November 2025, 3-month SOFR + 9.41%, Floor rate 11.81%
Summary of Investment Holdings
Maturity Date	[11]			2025-11				2025-11
Basis spread variable rate	[5],[11]			9.41%				9.41%
Interest rate floor	[5],[11]			11.81%				11.81%
Principal amount	[11]			$ 10,073
Investment cost	[6],[11]			9,931
Investments, at fair value:	[11]			$ 9,940
Investment, Identifier [Axis]: Debt Investment Software and Ceros, Inc., Senior Secured, September 2026, 6-month SOFR + 8.99%, Floor rate 9.89%
Summary of Investment Holdings
Maturity Date	[8],[11]			2026-09				2026-09
Basis spread variable rate	[5],[8],[11]			8.99%				8.99%
Interest rate floor	[5],[8],[11]			9.89%				9.89%
Principal amount	[8],[11]			$ 22,867
Investment cost	[6],[8],[11]			22,498
Investments, at fair value:	[8],[11]			$ 23,075
Investment, Identifier [Axis]: Debt Investment Software and Constructor.io Corporation, Senior Secured, July 2027, 1-month SOFR + 8.44%, Floor rate 9.44%
Summary of Investment Holdings
Maturity Date	[8],[11],[13]			2027-07				2027-07
Basis spread variable rate	[5],[8],[11],[13]			8.44%				8.44%
Interest rate floor	[5],[8],[11],[13]			9.44%				9.44%
Principal amount	[8],[11],[13]			$ 4,688
Investment cost	[6],[8],[11],[13]			4,592
Investments, at fair value:	[8],[11],[13]			$ 4,790
Investment, Identifier [Axis]: Debt Investment Software and Convoy, Inc., Senior Secured, March 2026, Prime + 3.20%, Floor rate 6.45%, PIK Interest 1.95%, 4.55% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[14],[15]			2026-03				2026-03
Basis spread variable rate	[5],[7],[14],[15]			3.20%				3.20%
Interest rate floor	[5],[7],[14],[15]			6.45%				6.45%
Interest rate paid in kind	[5],[7],[14],[15]			1.95%				1.95%
Exit fee rate	[5],[7],[14],[15]			4.55%				4.55%
Principal amount	[7],[14],[15]			$ 31,049
Investment cost	[6],[7],[14],[15]			30,916
Investments, at fair value:	[7],[14],[15]			$ 0
Investment, Identifier [Axis]: Debt Investment Software and Copper CRM, Inc, Senior Secured, March 2025, Prime + 4.50%, Floor rate 8.25%, Cap rate 10.25%, PIK Interest 1.95%, 3.96% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[7]			2025-03				2025-03
Basis spread variable rate	[4],[5],[7]			4.50%				4.50%
Interest rate floor	[4],[5],[7]			8.25%				8.25%
Interest rate cap	[4],[5],[7]			10.25%				10.25%
Interest rate paid in kind	[4],[5],[7]			1.95%				1.95%
Exit fee rate	[4],[5],[7]			3.96%				3.96%
Principal amount	[4],[7]			$ 9,141
Investment cost	[4],[6],[7]			9,307
Investments, at fair value:	[4],[7]			9,153
Investment, Identifier [Axis]: Debt Investment Software and Cybermaxx Intermediate Holdings, Inc.
Summary of Investment Holdings
Principal amount				10,501
Investment cost	[6]			10,324
Investments, at fair value:				$ 10,334
Investment, Identifier [Axis]: Debt Investment Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, August 2026, 6-month SOFR + 12.36%, Floor rate 13.11%
Summary of Investment Holdings
Maturity Date	[8]			2026-08				2026-08
Basis spread variable rate	[5],[8]			12.36%				12.36%
Interest rate floor	[5],[8]			13.11%				13.11%
Principal amount	[8]			$ 2,546
Investment cost	[6],[8]			2,494
Investments, at fair value:	[8]			$ 2,556
Investment, Identifier [Axis]: Debt Investment Software and Dashlane, Inc., Senior Secured, Maturity Date December 2027, Prime + 3.05%, Floor rate 11.55%, PIK Interest 1.10%, 7.26% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[8],[13],[14]			2027-12				2027-12
Basis spread variable rate	[4],[5],[8],[13],[14]			3.05%				3.05%
Interest rate floor	[4],[5],[8],[13],[14]			11.55%				11.55%
Interest rate paid in kind	[4],[5],[8],[13],[14]			1.10%				1.10%
Exit fee rate	[4],[5],[8],[13],[14]			7.26%				7.26%
Principal amount	[4],[8],[13],[14]			$ 42,863
Investment cost	[4],[6],[8],[13],[14]			43,087
Investments, at fair value:	[4],[8],[13],[14]			$ 43,087
Investment, Identifier [Axis]: Debt Investment Software and DroneDeploy, Inc., Senior Secured, Maturity Date July 2026, Prime + 4.50%, Floor rate 8.75%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[8]			2026-07				2026-07
Basis spread variable rate	[5],[8]			4.50%				4.50%
Interest rate floor	[5],[8]			8.75%				8.75%
Exit fee rate	[5],[8]			4%				4%
Principal amount	[8]			$ 6,250
Investment cost	[6],[8]			6,083
Investments, at fair value:	[8]			$ 6,153
Investment, Identifier [Axis]: Debt Investment Software and Enmark Systems, Inc., Senior Secured, Maturity Date September 2026, 3-month SOFR + 6.73%, Floor rate 7.73%, PIK Interest 2.13%
Summary of Investment Holdings
Maturity Date	[4],[7],[8],[11]			2026-09				2026-09
Basis spread variable rate	[4],[5],[7],[8],[11]			6.73%				6.73%
Interest rate floor	[4],[5],[7],[8],[11]			7.73%				7.73%
Interest rate paid in kind	[4],[5],[7],[8],[11]			2.13%				2.13%
Principal amount	[4],[7],[8],[11]			$ 8,363
Investment cost	[4],[6],[7],[8],[11]			8,230
Investments, at fair value:	[4],[7],[8],[11]			$ 8,363
Investment, Identifier [Axis]: Debt Investment Software and Flight Schedule Pro, LLC, Senior Secured, Maturity Date October 2027, 1-month SOFR + 7.80%, Floor rate 8.70%
Summary of Investment Holdings
Maturity Date	[8],[11]			2027-10				2027-10
Basis spread variable rate	[5],[8],[11]			7.80%				7.80%
Interest rate floor	[5],[8],[11]			8.70%				8.70%
Principal amount	[8],[11]			$ 6,587
Investment cost	[6],[8],[11]			6,420
Investments, at fair value:	[8],[11]			$ 6,553
Investment, Identifier [Axis]: Debt Investment Software and Fortified Health Security, Senior Secured, Maturity Date December 2027, 1-month SOFR + 7.64%, Floor rate 8.54%
Summary of Investment Holdings
Maturity Date	[4],[8],[11]			2027-12				2027-12
Basis spread variable rate	[4],[5],[8],[11]			7.64%				7.64%
Interest rate floor	[4],[5],[8],[11]			8.54%				8.54%
Principal amount	[4],[8],[11]			$ 7,000
Investment cost	[4],[6],[8],[11]			6,851
Investments, at fair value:	[4],[8],[11]			$ 6,910
Investment, Identifier [Axis]: Debt Investment Software and Ikon Science Limited, Senior Secured, Maturity Date October 2024, 3-month SOFR + 9.26%, Floor rate 10.00%
Summary of Investment Holdings
Maturity Date	[8],[9],[10],[11]			2024-10				2024-10
Basis spread variable rate	[5],[8],[9],[10],[11]			9.26%				9.26%
Interest rate floor	[5],[8],[9],[10],[11]			10%				10%
Principal amount	[8],[9],[10],[11]			$ 6,213
Investment cost	[6],[8],[9],[10],[11]			6,148
Investments, at fair value:	[8],[9],[10],[11]			$ 6,148
Investment, Identifier [Axis]: Debt Investment Software and Khoros (p.k.a Lithium Technologies), Senior Secured, Maturity Date January 2025, 3-month SOFR + 4.50%, Floor rate 5.50%, PIK Interest 4.50%
Summary of Investment Holdings
Maturity Date	[7]			2025-01				2025-01
Basis spread variable rate	[5],[7]			4.50%				4.50%
Interest rate floor	[5],[7]			5.50%				5.50%
Interest rate paid in kind	[5],[7]			4.50%				4.50%
Principal amount	[7]			$ 57,770
Investment cost	[6],[7]			57,730
Investments, at fair value:	[7]			$ 56,293
Investment, Identifier [Axis]: Debt Investment Software and Leapwork ApS, Senior Secured, Maturity Date February 2026, Prime + 0.25%, Floor rate 7.25%, PIK Interest 1.95%, 2.70% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[9],[10],[16]			2026-02				2026-02
Basis spread variable rate	[5],[7],[8],[9],[10],[16]			0.25%				0.25%
Interest rate floor	[5],[7],[8],[9],[10],[16]			7.25%				7.25%
Interest rate paid in kind	[5],[7],[8],[9],[10],[16]			1.95%				1.95%
Exit fee rate	[5],[7],[8],[9],[10],[16]			2.70%				2.70%
Principal amount	[7],[8],[9],[10],[16]			$ 3,813
Investment cost	[6],[7],[8],[9],[10],[16]			3,810
Investments, at fair value:	[7],[8],[9],[10],[16]			$ 3,907
Investment, Identifier [Axis]: Debt Investment Software and LinenMaster, LLC, Senior Secured, Maturity Date August 2028, 1-month SOFR + 6.25%, Floor rate 7.25%, PIK Interest 2.15%
Summary of Investment Holdings
Maturity Date	[7],[8]			2028-08				2028-08
Basis spread variable rate	[5],[7],[8]			6.25%				6.25%
Interest rate floor	[5],[7],[8]			7.25%				7.25%
Interest rate paid in kind	[5],[7],[8]			2.15%				2.15%
Principal amount	[7],[8]			$ 15,083
Investment cost	[6],[7],[8]			14,799
Investments, at fair value:	[7],[8]			$ 14,799
Investment, Identifier [Axis]: Debt Investment Software and Loftware, Inc., Senior Secured, Maturity Date March 2028, 3-month SOFR + 7.88%, Floor rate 8.88%
Summary of Investment Holdings
Maturity Date	[8],[11]			2028-03				2028-03
Basis spread variable rate	[5],[8],[11]			7.88%				7.88%
Interest rate floor	[5],[8],[11]			8.88%				8.88%
Principal amount	[8],[11]			$ 26,469
Investment cost	[6],[8],[11]			25,897
Investments, at fair value:	[8],[11]			$ 26,566
Investment, Identifier [Axis]: Debt Investment Software and LogicSource, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.93%, Floor rate 9.93%
Summary of Investment Holdings
Maturity Date	[8],[11]			2027-07				2027-07
Basis spread variable rate	[5],[8],[11]			8.93%				8.93%
Interest rate floor	[5],[8],[11]			9.93%				9.93%
Principal amount	[8],[11]			$ 13,300
Investment cost	[6],[8],[11]			13,074
Investments, at fair value:	[8],[11]			$ 13,493
Investment, Identifier [Axis]: Debt Investment Software and Mobile Solutions Services, Senior Secured, Maturity Date December 2025, 6-month SOFR + 9.31%, Floor rate 10.06%
Summary of Investment Holdings
Maturity Date	[11]			2025-12				2025-12
Basis spread variable rate	[5],[11]			9.31%				9.31%
Interest rate floor	[5],[11]			10.06%				10.06%
Principal amount	[11]			$ 18,366
Investment cost	[6],[11]			18,116
Investments, at fair value:	[11]			$ 18,176
Investment, Identifier [Axis]: Debt Investment Software and New Relic, Inc., Senior Secured, Maturity Date November 2030, 3-month SOFR + 6.75%, Floor rate 7.75%
Summary of Investment Holdings
Maturity Date	[8]			2030-11				2030-11
Basis spread variable rate	[5],[8]			6.75%				6.75%
Interest rate floor	[5],[8]			7.75%				7.75%
Principal amount	[8]			$ 20,890
Investment cost	[6],[8]			20,375
Investments, at fair value:	[8]			$ 20,375
Investment, Identifier [Axis]: Debt Investment Software and Omeda Holdings, LLC, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.05%, Floor rate 9.05%
Summary of Investment Holdings
Maturity Date	[4],[8],[11]			2027-07				2027-07
Basis spread variable rate	[4],[5],[8],[11]			8.05%				8.05%
Interest rate floor	[4],[5],[8],[11]			9.05%				9.05%
Principal amount	[4],[8],[11]			$ 7,706
Investment cost	[4],[6],[8],[11]			7,508
Investments, at fair value:	[4],[8],[11]			$ 7,702
Investment, Identifier [Axis]: Debt Investment Software and Onna Technologies, Inc., Senior Secured, Maturity Date March 2026, Prime + 1.35%, Floor rate 8.85%, PIK Interest 1.75%, 4.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[7]			2026-03				2026-03
Basis spread variable rate	[5],[7]			1.35%				1.35%
Interest rate floor	[5],[7]			8.85%				8.85%
Interest rate paid in kind	[5],[7]			1.75%				1.75%
Exit fee rate	[5],[7]			4.45%				4.45%
Principal amount	[7]			$ 3,853
Investment cost	[6],[7]			3,814
Investments, at fair value:	[7]			$ 3,810
Investment, Identifier [Axis]: Debt Investment Software and ShadowDragon, LLC, Senior Secured, Maturity Date December 2026, 1-month SOFR + 9.01%, Floor rate 9.91%
Summary of Investment Holdings
Maturity Date	[8],[11]			2026-12				2026-12
Basis spread variable rate	[5],[8],[11]			9.01%				9.01%
Interest rate floor	[5],[8],[11]			9.91%				9.91%
Principal amount	[8],[11]			$ 6,000
Investment cost	[6],[8],[11]			5,883
Investments, at fair value:	[8],[11]			$ 5,921
Investment, Identifier [Axis]: Debt Investment Software and Simon Data, Inc., Senior Secured, Maturity Date March 2027, Prime + 1.00%, Floor rate 8.75%, PIK Interest 1.95%, 2.92% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[16]			2027-03				2027-03
Basis spread variable rate	[5],[7],[16]			1%				1%
Interest rate floor	[5],[7],[16]			8.75%				8.75%
Interest rate paid in kind	[5],[7],[16]			1.95%				1.95%
Exit fee rate	[5],[7],[16]			2.92%				2.92%
Principal amount	[7],[16]			$ 15,065
Investment cost	[6],[7],[16]			14,982
Investments, at fair value:	[7],[16]			$ 15,037
Investment, Identifier [Axis]: Debt Investment Software and Sisense Ltd., Senior Secured, Maturity Date July 2027, Prime + 1.50%, Floor rate 9.50%, PIK Interest 1.95%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[9],[10]			2027-07				2027-07
Basis spread variable rate	[5],[7],[9],[10]			1.50%				1.50%
Interest rate floor	[5],[7],[9],[10]			9.50%				9.50%
Interest rate paid in kind	[5],[7],[9],[10]			1.95%				1.95%
Exit fee rate	[5],[7],[9],[10]			5.95%				5.95%
Principal amount	[7],[9],[10]			$ 34,830
Investment cost	[6],[7],[9],[10]			34,584
Investments, at fair value:	[7],[9],[10]			$ 34,881
Investment, Identifier [Axis]: Debt Investment Software and Streamline Healthcare Solutions, Senior Secured, Maturity Date March 2028, 3-month SOFR + 7.25%, Floor rate 8.25%
Summary of Investment Holdings
Maturity Date	[8],[11]			2028-03				2028-03
Basis spread variable rate	[5],[8],[11]			7.25%				7.25%
Interest rate floor	[5],[8],[11]			8.25%				8.25%
Principal amount	[8],[11]			$ 13,200
Investment cost	[6],[8],[11]			12,953
Investments, at fair value:	[8],[11]			$ 13,327
Investment, Identifier [Axis]: Debt Investment Software and Sumo Logic, Inc., Senior Secured, Maturity Date May 2030, 3-month SOFR + 6.50%, Floor rate 7.50%
Summary of Investment Holdings
Maturity Date	[8]			2030-05				2030-05
Basis spread variable rate	[5],[8]			6.50%				6.50%
Interest rate floor	[5],[8]			7.50%				7.50%
Principal amount	[8]			$ 23,000
Investment cost	[6],[8]			22,460
Investments, at fair value:	[8]			$ 23,105
Investment, Identifier [Axis]: Debt Investment Software and Suzy, Inc., Senior Secured, Maturity Date August 2027, Prime + 1.75%, Floor rate 10.00%, PIK Interest 1.95%, 3.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[12]			2027-08				2027-08
Basis spread variable rate	[5],[7],[8],[12]			1.75%				1.75%
Interest rate floor	[5],[7],[8],[12]			10%				10%
Interest rate paid in kind	[5],[7],[8],[12]			1.95%				1.95%
Exit fee rate	[5],[7],[8],[12]			3.45%				3.45%
Principal amount	[7],[8],[12]			$ 12,064
Investment cost	[6],[7],[8],[12]			11,837
Investments, at fair value:	[7],[8],[12]			$ 11,837
Investment, Identifier [Axis]: Debt Investment Software and ThreatConnect, Inc., Senior Secured, Maturity Date May 2026, 6-month SOFR + 9.25%, Floor rate 10.00%
Summary of Investment Holdings
Maturity Date	[8],[11]			2026-05				2026-05
Basis spread variable rate	[5],[8],[11]			9.25%				9.25%
Interest rate floor	[5],[8],[11]			10%				10%
Principal amount	[8],[11]			$ 10,920
Investment cost	[6],[8],[11]			10,730
Investments, at fair value:	[8],[11]			$ 10,920
Investment, Identifier [Axis]: Debt Investment Software and Tipalti Solutions Ltd., Senior Secured, Maturity Date April 2027, Prime + 0.45%, Floor rate 7.95%, PIK Interest 2.00%, 3.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[9],[10]			2027-04				2027-04
Basis spread variable rate	[5],[7],[8],[9],[10]			0.45%				0.45%
Interest rate floor	[5],[7],[8],[9],[10]			7.95%				7.95%
Interest rate paid in kind	[5],[7],[8],[9],[10]			2%				2%
Exit fee rate	[5],[7],[8],[9],[10]			3.75%				3.75%
Principal amount	[7],[8],[9],[10]			$ 10,649
Investment cost	[6],[7],[8],[9],[10]			10,578
Investments, at fair value:	[7],[8],[9],[10]			$ 10,835
Investment, Identifier [Axis]: Debt Investment Software and iGrafx, LLC, Senior Secured, Maturity Date May 2027, 1-month SOFR + 8.66%, Floor rate 9.56%
Summary of Investment Holdings
Maturity Date	[11]			2027-05				2027-05
Basis spread variable rate	[5],[11]			8.66%				8.66%
Interest rate floor	[5],[11]			9.56%				9.56%
Principal amount	[11]			$ 5,000
Investment cost	[6],[11]			4,901
Investments, at fair value:	[11]			$ 4,901
Investment, Identifier [Axis]: Debt Investment Sustainable and Renewable Technology and Pineapple Energy LLC, Senior Secured, Maturity Date June 2027, FIXED 10.00%
Summary of Investment Holdings
Maturity Date	[14]			2027-06				2027-06
Interest rate paid in cash	[5],[14]			10%				10%
Principal amount	[14]			$ 1,682
Investment cost	[6],[14]			1,682
Investments, at fair value:	[14]			$ 1,678
Investment, Identifier [Axis]: Debt Investments (169.59%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			169.59%				169.59%
Investment cost	[6]			$ 3,058,370
Investments, at fair value:				$ 3,057,299
Investment, Identifier [Axis]: Debt Investments (175.65%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	175.65%				175.65%
Investment cost	[2]	$ 3,515,541
Investments, at fair value:		$ 3,494,601
Investment, Identifier [Axis]: Debt Investments Biotechnology Tools (1.70%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.70%				1.70%
Investment cost	[2]	$ 32,801
Investments, at fair value:		$ 33,788
Investment, Identifier [Axis]: Debt Investments Biotechnology Tools (2.66%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			2.66%				2.66%
Investment cost	[6]			$ 47,010
Investments, at fair value:				$ 48,027
Investment, Identifier [Axis]: Debt Investments Biotechnology Tools and Alamar Biosciences, Inc., Senior Secured, Maturity Date June 2026, Prime + 3.00%, Floor rate 6.50%, PIK Interest 1.00%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13]			2026-06				2026-06
Basis spread variable rate	[5],[7],[13]			3%				3%
Interest rate floor	[5],[7],[13]			6.50%				6.50%
Interest rate paid in kind	[5],[7],[13]			1%				1%
Exit fee rate	[5],[7],[13]			5.95%				5.95%
Principal amount	[7],[13]			$ 15,049
Investment cost	[6],[7],[13]			15,069
Investments, at fair value:	[7],[13]			$ 15,508
Investment, Identifier [Axis]: Debt Investments Biotechnology Tools and PathAI, Inc., Senior Secured, Maturity Date January 2027, Prime + 2.15%, Floor rate 9.15%, 7.85% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[20]	2027-01				2027-01
Basis spread variable rate	[19],[20],[21]	2.15%				2.15%
Interest rate floor	[19],[20],[21]	9.15%				9.15%
Exit fee rate	[19],[20],[21]	7.85%				7.85%
Principal amount	[19],[20]	$ 32,000
Investment cost	[2],[19],[20]	32,801
Investments, at fair value:	[19],[20]	$ 33,788
Investment, Identifier [Axis]: Debt Investments Biotechnology Tools and PathAI, Inc., Senior Secured, Maturity Date January 2027, Prime + 2.15%, Floor rate 9.15%, 9.81% Exit Fee
Summary of Investment Holdings
Maturity Date	[16]			2027-01				2027-01
Basis spread variable rate	[5],[16]			2.15%				2.15%
Interest rate floor	[5],[16]			9.15%				9.15%
Exit fee rate	[5],[16]			9.81%				9.81%
Principal amount	[16]			$ 32,000
Investment cost	[6],[16]			31,941
Investments, at fair value:	[16]			$ 32,519
Investment, Identifier [Axis]: Debt Investments Communications & Networking (1.62%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			1.62%				1.62%
Investment cost	[6]			$ 28,182
Investments, at fair value:				$ 29,272
Investment, Identifier [Axis]: Debt Investments Communications & Networking and Aryaka Networks, Inc., Senior Secured, Maturity Date July 2026, Prime + 3.25%, Floor rate 6.75%, PIK Interest 1.05%, 3.55% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[14],[16]			2026-07				2026-07
Basis spread variable rate	[5],[7],[14],[16]			3.25%				3.25%
Interest rate floor	[5],[7],[14],[16]			6.75%				6.75%
Interest rate paid in kind	[5],[7],[14],[16]			1.05%				1.05%
Exit fee rate	[5],[7],[14],[16]			3.55%				3.55%
Principal amount	[7],[14],[16]			$ 25,153
Investment cost	[6],[7],[14],[16]			24,943
Investments, at fair value:	[7],[14],[16]			$ 26,000
Investment, Identifier [Axis]: Debt Investments Communications & Networking and Cytracom Holdings LLC, Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.72%, Floor rate 10.62%
Summary of Investment Holdings
Maturity Date	[4],[8],[11]			2025-02				2025-02
Basis spread variable rate	[4],[5],[8],[11]			9.72%				9.72%
Interest rate floor	[4],[5],[8],[11]			10.62%				10.62%
Principal amount	[4],[8],[11]			$ 3,267
Investment cost	[4],[6],[8],[11]			3,239
Investments, at fair value:	[4],[8],[11]			$ 3,272
Investment, Identifier [Axis]: Debt Investments Communications and Networking and Aryaka Networks, Inc., Senior Secured, Maturity Date December 2028, Prime + 1.80%, Floor rate 9.30%, PIK Interest 1.25%, 6.73% Exit Fee
Summary of Investment Holdings
Maturity Date	[22],[23]	2028-12				2028-12
Basis spread variable rate	[21],[22],[23]	1.80%				1.80%
Interest rate floor	[21],[22],[23]	9.30%				9.30%
Interest rate paid in kind	[21],[22],[23]	1.25%				1.25%
Exit fee rate	[21],[22],[23]	6.73%				6.73%
Principal amount	[22],[23]	$ 27,926
Investment cost	[2],[22],[23]	27,693
Investments, at fair value:	[22],[23]	$ 27,491
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services (18.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	18.03%				18.03%
Investment cost	[2]	$ 358,347
Investments, at fair value:		$ 358,786
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services (28.24%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			28.24%				28.24%
Investment cost	[6]			$ 507,063
Investments, at fair value:				$ 509,053
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Altumint, Inc., Senior Secured, Maturity Date December 2027, Prime + 3.65%, Floor rate 12.15%, 2.50% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-12	[1]	2027-12	[8],[12]	2027-12	[1]	2027-12	[8],[12]
Basis spread variable rate		3.65%	[1],[21]	3.65%	[5],[8],[12]	3.65%	[1],[21]	3.65%	[5],[8],[12]
Interest rate floor		12.15%	[1],[21]	12.15%	[5],[8],[12]	12.15%	[1],[21]	12.15%	[5],[8],[12]
Exit fee rate		2.50%	[1],[21]	2.50%	[5],[8],[12]	2.50%	[1],[21]	2.50%	[5],[8],[12]
Principal amount		$ 10,000	[1]	$ 10,000	[8],[12]
Investment cost		9,916	[1],[2]	9,905	[6],[8],[12]
Investments, at fair value:		$ 10,140	[1]	$ 9,905	[8],[12]
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and AppDirect, Inc., Senior Secured, Maturity Date April 2026, Prime + 5.50%, Floor rate 8.75%, 7.12% Exit Fee
Summary of Investment Holdings
Maturity Date	[16]			2026-04				2026-04
Basis spread variable rate	[5],[16]			5.50%				5.50%
Interest rate floor	[5],[16]			8.75%				8.75%
Exit fee rate	[5],[16]			7.12%				7.12%
Principal amount	[16]			$ 55,790
Investment cost	[6],[16]			57,653
Investments, at fair value:	[16]			$ 59,507
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Carwow LTD, Senior Secured, Maturity Date December 2024, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[9],[10]			2024-12				2024-12
Basis spread variable rate	[5],[7],[9],[10]			4.70%				4.70%
Interest rate floor	[5],[7],[9],[10]			7.95%				7.95%
Interest rate paid in kind	[5],[7],[9],[10]			1.45%				1.45%
Exit fee rate	[5],[7],[9],[10]			4.95%				4.95%
Principal amount | £	[7],[9],[10]							£ 19,146
Investment cost	[6],[7],[9],[10]			$ 26,834
Investments, at fair value:	[7],[9],[10]			$ 25,157
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Carwow LTD, Senior Secured, Maturity Date December 2027, Prime + 4.70%, Floor rate 11.45%, PIK Interest 1.45%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26]	2027-12				2027-12
Basis spread variable rate	[21],[24],[25],[26]	4.70%				4.70%
Interest rate floor	[21],[24],[25],[26]	11.45%				11.45%
Interest rate paid in kind	[21],[24],[25],[26]	1.45%				1.45%
Exit fee rate	[21],[24],[25],[26]	4.95%				4.95%
Principal amount | £	[24],[25],[26]					£ 20,361
Investment cost	[2],[24],[25],[26]	$ 27,818
Investments, at fair value:	[24],[25],[26]	$ 25,264
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and GoEuro Travel GmbH, Senior Secured, Maturity Date November 2029, Prime + 3.45%, Floor rate 10.45%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[25],[26]	2029-11				2029-11
Basis spread variable rate	[21],[23],[25],[26]	3.45%				3.45%
Interest rate floor	[21],[23],[25],[26]	10.45%				10.45%
Exit fee rate	[21],[23],[25],[26]	4.50%				4.50%
Principal amount	[23],[25],[26]	$ 48,750
Investment cost	[2],[23],[25],[26]	48,276
Investments, at fair value:	[23],[25],[26]	$ 48,276
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Houzz, Inc., Convertible Debt, Maturity Date May 2028, PIK Interest 11.50%
Summary of Investment Holdings
Maturity Date	[24],[27]	2028-05				2028-05
Interest rate paid in kind	[21],[24],[27]	11.50%				11.50%
Principal amount	[24],[27]	$ 25,687
Investment cost	[2],[24],[27]	25,687
Investments, at fair value:	[24],[27]	$ 26,869
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Houzz, Inc.; Convertible Debt, Maturity Date May 2028, PIK Interest 8.50%
Summary of Investment Holdings
Maturity Date	[7],[28]			2028-05				2028-05
Interest rate paid in kind	[5],[7],[28]			8.50%				8.50%
Principal amount	[7],[28]			$ 23,340
Investment cost	[6],[7],[28]			23,340
Investments, at fair value:	[7],[28]			$ 23,244
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Jobandtalent USA, Inc., Senior Secured, Maturity Date August 2025, 1-month SOFR + 8.86% Floor rate 9.75%, 2.89% Exit Fee
Summary of Investment Holdings
Maturity Date	[25],[26]	2025-08				2025-08
Basis spread variable rate	[21],[25],[26]	8.86%				8.86%
Interest rate floor	[21],[25],[26]	9.75%				9.75%
Exit fee rate	[21],[25],[26]	2.89%				2.89%
Principal amount	[25],[26]	$ 13,011
Investment cost	[2],[25],[26]	13,276
Investments, at fair value:	[25],[26]	$ 12,994
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Jobandtalent USA, Inc.; Senior Secured, Maturity Date February 2025, 1-month SOFR + 8.86%, Floor rate 9.75%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2025-02				2025-02
Basis spread variable rate	[5],[9],[10]			8.86%				8.86%
Interest rate floor	[5],[9],[10]			9.75%				9.75%
Exit fee rate	[5],[9],[10]			3%				3%
Principal amount	[9],[10]			$ 14,000
Investment cost	[6],[9],[10]			14,095
Investments, at fair value:	[9],[10]			$ 14,259
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Plentific Ltd, Senior Secured, Maturity Date October 2026, Prime + 2.55%, Floor rate 11.05%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-10	[19],[25],[26]	2026-10		2026-10	[19],[25],[26]	2026-10
Basis spread variable rate		2.55%	[19],[21],[25],[26]	2.55%	[5],[8],[9],[10]	2.55%	[19],[21],[25],[26]	2.55%	[5],[8],[9],[10]
Interest rate floor		11.05%	[19],[21],[25],[26]	11.05%	[5],[8],[9],[10]	11.05%	[19],[21],[25],[26]	11.05%	[5],[8],[9],[10]
Exit fee rate		2.95%	[19],[21],[25],[26]	2.95%	[5],[8],[9],[10]	2.95%	[19],[21],[25],[26]	2.95%	[5],[8],[9],[10]
Principal amount		$ 3,325	[19],[25],[26]	$ 875	[8],[9],[10]
Investment cost		3,282	[2],[19],[25],[26]	853	[6],[8],[9],[10]
Investments, at fair value:		$ 3,340	[19],[25],[26]	$ 853	[8],[9],[10]
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Provi, Senior Secured, Maturity Date December 2026, Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-12	[1]	2026-12	[12]	2026-12	[1]	2026-12	[12]
Basis spread variable rate		4.40%	[1],[21]	4.40%	[5],[12]	4.40%	[1],[21]	4.40%	[5],[12]
Interest rate floor		10.65%	[1],[21]	10.65%	[5],[12]	10.65%	[1],[21]	10.65%	[5],[12]
Exit fee rate		2.95%	[1],[21]	2.95%	[5],[12]	2.95%	[1],[21]	2.95%	[5],[12]
Principal amount		$ 15,000	[1]	$ 15,000	[12]
Investment cost		15,093	[1],[2]	14,904	[6],[12]
Investments, at fair value:		$ 15,176	[1]	$ 15,046	[12]
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and RVShare, LLC, Senior Secured, Maturity Date December 2026, 3-month SOFR + 5.50%, Floor rate 6.50%, PIK Interest 4.00%
Summary of Investment Holdings
Maturity Date		2026-12	[1],[19],[24]	2026-12	[7],[12],[13]	2026-12	[1],[19],[24]	2026-12	[7],[12],[13]
Basis spread variable rate		5.50%	[1],[19],[21],[24]	5.50%	[5],[7],[12],[13]	5.50%	[1],[19],[21],[24]	5.50%	[5],[7],[12],[13]
Interest rate floor		6.50%	[1],[19],[21],[24]	6.50%	[5],[7],[12],[13]	6.50%	[1],[19],[21],[24]	6.50%	[5],[7],[12],[13]
Interest rate paid in kind		4%	[1],[19],[21],[24]	4%	[5],[7],[12],[13]	4%	[1],[19],[21],[24]	4%	[5],[7],[12],[13]
Principal amount		$ 30,073	[1],[19],[24]	$ 28,876	[7],[12],[13]
Investment cost		29,798	[1],[2],[19],[24]	28,404	[6],[7],[12],[13]
Investments, at fair value:		$ 29,678	[1],[19],[24]	$ 28,888	[7],[12],[13]
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Rhino Labs, Inc., Senior Secured, Maturity Date June 2024, Prime + 5.50%, Floor rate 8.75%, PIK Interest 2.25%
Summary of Investment Holdings
Maturity Date	[7],[12]			2024-06				2024-06
Basis spread variable rate	[5],[7],[12]			5.50%				5.50%
Interest rate floor	[5],[7],[12]			8.75%				8.75%
Interest rate paid in kind	[5],[7],[12]			2.25%				2.25%
Principal amount	[7],[12]			$ 4,710
Investment cost	[6],[7],[12]			4,704
Investments, at fair value:	[7],[12]			$ 4,704
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Riviera Partners LLC, Senior Secured, Maturity Date April 2027, 3- month SOFR +8.26%, Floor rate 9.26%
Summary of Investment Holdings
Maturity Date	[8],[11]			2027-04				2027-04
Basis spread variable rate	[5],[8],[11]			8.26%				8.26%
Interest rate floor	[5],[8],[11]			9.26%				9.26%
Principal amount	[8],[11]			$ 36,868
Investment cost	[6],[8],[11]			36,339
Investments, at fair value:	[8],[11]			$ 34,659
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Riviera Partners LLC, Senior Secured, Maturity Date April 2027, 3-month SOFR + 8.27%, Floor rate 9.27%
Summary of Investment Holdings
Maturity Date	[29]	2027-04				2027-04
Basis spread variable rate	[21],[29]	8.27%				8.27%
Interest rate floor	[21],[29]	9.27%				9.27%
Principal amount	[29]	$ 36,493
Investment cost	[2],[29]	36,104
Investments, at fair value:	[29]	$ 35,017
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and SeatGeek, Inc., Senior Secured, Maturity Date July 2026, Prime + 2.50%, Floor rate 10.75%, PIK Interest 0.50% 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[16],[30]			2026-07				2026-07
Basis spread variable rate	[5],[7],[16],[30]			2.50%				2.50%
Interest rate floor	[5],[7],[16],[30]			10.75%				10.75%
Interest rate paid in kind	[5],[7],[16],[30]			0.50%				0.50%
Exit fee rate	[5],[7],[16],[30]			3%				3%
Principal amount	[7],[16],[30]			$ 77,642
Investment cost	[6],[7],[16],[30]			77,170
Investments, at fair value:	[7],[16],[30]			$ 79,119
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and SeatGeek, Inc., Senior Secured, Maturity Date July 2026, Prime + 2.50%, Floor rate 10.75%, PIK Interest 0.50%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24],[31]	2026-07				2026-07
Basis spread variable rate	[20],[21],[24],[31]	2.50%				2.50%
Interest rate floor	[20],[21],[24],[31]	10.75%				10.75%
Interest rate paid in kind	[20],[21],[24],[31]	0.50%				0.50%
Exit fee rate	[20],[21],[24],[31]	3%				3%
Principal amount	[20],[24],[31]	$ 78,038
Investment cost	[2],[20],[24],[31]	77,438
Investments, at fair value:	[20],[24],[31]	$ 79,691
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and SeatGeek, Inc., Senior Secured, Maturity Date May 2026, Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-05	[24],[31],[32]	2026-05	[4],[7],[30]	2026-05	[24],[31],[32]	2026-05	[4],[7],[30]
Basis spread variable rate		7%	[21],[24],[31],[32]	7%	[4],[5],[7],[30]	7%	[21],[24],[31],[32]	7%	[4],[5],[7],[30]
Interest rate floor		10.50%	[21],[24],[31],[32]	10.50%	[4],[5],[7],[30]	10.50%	[21],[24],[31],[32]	10.50%	[4],[5],[7],[30]
Interest rate paid in kind		0.50%	[21],[24],[31],[32]	0.50%	[4],[5],[7],[30]	0.50%	[21],[24],[31],[32]	0.50%	[4],[5],[7],[30]
Exit fee rate		4%	[21],[24],[31],[32]	4%	[4],[5],[7],[30]	4%	[21],[24],[31],[32]	4%	[4],[5],[7],[30]
Principal amount		$ 25,327	[24],[31],[32]	$ 25,199	[4],[7],[30]
Investment cost		25,413	[2],[24],[31],[32]	25,126	[4],[6],[7],[30]
Investments, at fair value:		$ 25,821	[24],[31],[32]	$ 25,869	[4],[7],[30]
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Skyword, Inc., Senior Secured, Maturity Date November 2026, Prime + 2.75%, Floor rate 9.25%, PIK Interest 1.75%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13]			2026-11				2026-11
Basis spread variable rate	[5],[7],[13]			2.75%				2.75%
Interest rate floor	[5],[7],[13]			9.25%				9.25%
Interest rate paid in kind	[5],[7],[13]			1.75%				1.75%
Exit fee rate	[5],[7],[13]			3%				3%
Principal amount	[7],[13]			$ 9,169
Investment cost	[6],[7],[13]			9,189
Investments, at fair value:	[7],[13]			$ 9,311
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Skyword, Inc., Senior Secured, Maturity Date November 2027, Prime + 2.75%, Floor rate 9.25%, PIK Interest 1.75%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[24]	2027-11				2027-11
Basis spread variable rate	[19],[21],[24]	2.75%				2.75%
Interest rate floor	[19],[21],[24]	9.25%				9.25%
Interest rate paid in kind	[19],[21],[24]	1.75%				1.75%
Exit fee rate	[19],[21],[24]	3%				3%
Principal amount	[19],[24]	$ 6,587
Investment cost	[2],[19],[24]	6,715
Investments, at fair value:	[19],[24]	$ 6,637
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date January 2027, FIXED 8.25%
Summary of Investment Holdings
Maturity Date	[33]	2027-01				2027-01
Interest rate paid in cash	[21],[33]	8.25%				8.25%
Principal amount	[33]	$ 8,250
Investment cost	[2],[33]	8,250
Investments, at fair value:	[33]	$ 8,027
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024, FIXED 8.25%
Summary of Investment Holdings
Maturity Date	[34]			2024-07				2024-07
Interest rate paid in cash	[5],[34]			8.25%				8.25%
Principal amount	[34]			$ 8,250
Investment cost	[6],[34]			8,250
Investments, at fair value:	[34]			$ 8,250
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Thumbtack, Inc., Senior Secured, Maturity Date April 2026, Prime + 4.95%, Floor rate 8.20%, PIK Interest 1.50%, 3.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[16]			2026-04				2026-04
Basis spread variable rate	[5],[7],[8],[16]			4.95%				4.95%
Interest rate floor	[5],[7],[8],[16]			8.20%				8.20%
Interest rate paid in kind	[5],[7],[8],[16]			1.50%				1.50%
Exit fee rate	[5],[7],[8],[16]			3.95%				3.95%
Principal amount	[7],[8],[16]			$ 10,258
Investment cost	[6],[7],[8],[16]			10,317
Investments, at fair value:	[7],[8],[16]			$ 10,639
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Thumbtack, Inc., Senior Secured, Maturity Date March 2028, Prime +2.45%, Floor rate 10.95%, PIK Interest 1.50%
Summary of Investment Holdings
Maturity Date	[23],[24],[32]	2028-03				2028-03
Basis spread variable rate	[21],[23],[24],[32]	2.45%				2.45%
Interest rate floor	[21],[23],[24],[32]	10.95%				10.95%
Interest rate paid in kind	[21],[23],[24],[32]	1.50%				1.50%
Principal amount	[23],[24],[32]	$ 20,918
Investment cost	[2],[23],[24],[32]	20,561
Investments, at fair value:	[23],[24],[32]	21,192
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Total SeatGeek, Inc.
Summary of Investment Holdings
Principal amount		103,365
Investment cost	[2]	102,851
Investments, at fair value:		105,512
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Total Veem, Inc.
Summary of Investment Holdings
Principal amount		10,360
Investment cost	[2]	10,720
Investments, at fair value:		$ 10,664
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Udacity, Inc., Senior Secured, Maturity Date September 2024, Prime + 4.50%, Floor rate 7.75%, PIK Interest 2.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[16]			2024-09				2024-09
Basis spread variable rate	[5],[7],[16]			4.50%				4.50%
Interest rate floor	[5],[7],[16]			7.75%				7.75%
Interest rate paid in kind	[5],[7],[16]			2%				2%
Exit fee rate	[5],[7],[16]			3%				3%
Principal amount	[7],[16]			$ 53,000
Investment cost	[6],[7],[16]			53,989
Investments, at fair value:	[7],[16]			$ 53,130
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Veem, Inc., Senior Secured, Maturity Date March 2025, Prime + 4.00%, Floor rate 7.25%, PIK Interest 1.25%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13]			2025-03				2025-03
Basis spread variable rate	[5],[7],[13]			4%				4%
Interest rate floor	[5],[7],[13]			7.25%				7.25%
Interest rate paid in kind	[5],[7],[13]			1.25%				1.25%
Exit fee rate	[5],[7],[13]			4.50%				4.50%
Principal amount	[7],[13]			$ 5,107
Investment cost	[6],[7],[13]			5,176
Investments, at fair value:	[7],[13]			$ 5,230
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Veem, Inc., Senior Secured, Maturity Date March 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.50%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[16]			2025-03				2025-03
Basis spread variable rate	[5],[7],[16]			4.70%				4.70%
Interest rate floor	[5],[7],[16]			7.95%				7.95%
Interest rate paid in kind	[5],[7],[16]			1.50%				1.50%
Exit fee rate	[5],[7],[16]			4.50%				4.50%
Principal amount	[7],[16]			$ 5,110
Investment cost	[6],[7],[16]			5,189
Investments, at fair value:	[7],[16]			5,286
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Veem, Inc., Senior Secured, Maturity Date March 2027, Prime + 4.00%, Floor rate 12.00%, PIK Interest 1.25%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[24]	2027-03				2027-03
Basis spread variable rate	[19],[21],[24]	4%				4%
Interest rate floor	[19],[21],[24]	12%				12%
Interest rate paid in kind	[19],[21],[24]	1.25%				1.25%
Exit fee rate	[19],[21],[24]	4.50%				4.50%
Principal amount	[19],[24]	$ 5,172
Investment cost	[2],[19],[24]	5,350
Investments, at fair value:	[19],[24]	$ 5,322
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Veem, Inc., Senior Secured, Maturity Date March 2027, Prime + 4.70%, Floor rate 12.70%, PIK Interest 1.50%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24]	2027-03				2027-03
Basis spread variable rate	[20],[21],[24]	4.70%				4.70%
Interest rate floor	[20],[21],[24]	12.70%				12.70%
Interest rate paid in kind	[20],[21],[24]	1.50%				1.50%
Exit fee rate	[20],[21],[24]	4.50%				4.50%
Principal amount	[20],[24]	$ 5,188
Investment cost	[2],[20],[24]	5,370
Investments, at fair value:	[20],[24]	$ 5,342
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Worldremit Group Limited
Summary of Investment Holdings
Principal amount				94,500
Investment cost	[6]			95,626
Investments, at fair value:				$ 95,997
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Worldremit Group Limited, Senior Secured, Maturity Date February 2025, 1-month SOFR + 9.35%, Floor rate 10.25%, 3.20% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10],[14],[30]			2025-02				2025-02
Basis spread variable rate	[5],[9],[10],[14],[30]			9.35%				9.35%
Interest rate floor	[5],[9],[10],[14],[30]			10.25%				10.25%
Exit fee rate	[5],[9],[10],[14],[30]			3.20%				3.20%
Principal amount	[9],[10],[14],[30]			$ 6,250
Investment cost	[6],[9],[10],[14],[30]			6,308
Investments, at fair value:	[9],[10],[14],[30]			$ 6,344
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services and Worldremit Group Limited, Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.40%, Floor rate 10.25%, 3.20% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[9],[10],[14],[16],[30]			2025-02				2025-02
Basis spread variable rate	[4],[5],[9],[10],[14],[16],[30]			9.40%				9.40%
Interest rate floor	[4],[5],[9],[10],[14],[16],[30]			10.25%				10.25%
Exit fee rate	[4],[5],[9],[10],[14],[16],[30]			3.20%				3.20%
Principal amount	[4],[9],[10],[14],[16],[30]			$ 88,250
Investment cost	[4],[6],[9],[10],[14],[16],[30]			89,318
Investments, at fair value:	[4],[9],[10],[14],[16],[30]			89,653
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services, SeatGeek, Inc.
Summary of Investment Holdings
Principal amount				102,841
Investment cost	[6]			102,296
Investments, at fair value:				104,988
Investment, Identifier [Axis]: Debt Investments Consumer & Business Services, Veem, Inc.
Summary of Investment Holdings
Principal amount				10,217
Investment cost	[6]			10,365
Investments, at fair value:				$ 10,516
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services (2.98%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	2.98%				2.98%
Investment cost	[2]	$ 59,130
Investments, at fair value:		59,386
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services (3.17%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			3.17%				3.17%
Investment cost	[6]			$ 56,764
Investments, at fair value:				$ 57,096
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Gibraltar Acquisition, LLC
Summary of Investment Holdings
Principal amount		36,569
Investment cost	[2]	36,212
Investments, at fair value:		$ 36,212
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Gibraltar Acquisition, LLC, Unsecured, Maturity Date September 2026, FIXED 11.50%
Summary of Investment Holdings
Maturity Date	[34],[35]			2026-09				2026-09
Interest rate paid in cash	[5],[34],[35]			11.50%				11.50%
Principal amount	[34],[35]			$ 25,000
Investment cost	[6],[34],[35]			24,663
Investments, at fair value:	[34],[35]			$ 24,663
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Gibraltar Acquisition, LLC, Unsecured, Maturity Date September 2026, FIXED 11.95%
Summary of Investment Holdings
Maturity Date		2026-09	[33],[36]	2026-09	[34],[35]	2026-09	[33],[36]	2026-09	[34],[35]
Interest rate paid in cash		11.95%	[21],[33],[36]	11.95%	[5],[34],[35]	11.95%	[21],[33],[36]	11.95%	[5],[34],[35]
Principal amount		$ 10,000	[33],[36]	$ 10,000	[34],[35]
Investment cost		9,875	[2],[33],[36]	9,815	[6],[34],[35]
Investments, at fair value:		$ 9,875	[33],[36]	$ 9,815	[34],[35]
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Gibraltar Acquisition, LLC, Unsecured, Maturity Date September 2026, FIXED 3.45%, PIK Interest 8.05%
Summary of Investment Holdings
Maturity Date	[24],[33],[36]	2026-09				2026-09
Interest rate paid in kind	[21],[24],[33],[36]	8.05%				8.05%
Interest rate paid in cash	[21],[24],[33],[36]	3.45%				3.45%
Principal amount	[24],[33],[36]	$ 26,569
Investment cost	[2],[24],[33],[36]	26,337
Investments, at fair value:	[24],[33],[36]	$ 26,337
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Hercules Adviser LLC, Unsecured, Maturity Date June 2025, FIXED 5.00%
Summary of Investment Holdings
Maturity Date		2025-06	[33],[37]	2025-06	[34],[38]	2025-06	[33],[37]	2025-06	[34],[38]
Interest rate paid in cash		5%	[21],[33],[37]	5%	[5],[34],[38]	5%	[21],[33],[37]	5%	[5],[34],[38]
Principal amount		$ 12,000	[33],[37]	$ 12,000	[34],[38]
Investment cost		12,000	[2],[33],[37]	12,000	[6],[34],[38]
Investments, at fair value:		$ 12,000	[33],[37]	$ 12,000	[34],[38]
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Next Insurance Inc, Senior Secured, Maturity Date February 2028, Prime - 1.50%, Floor rate 4.75%, PIK Interest 5.50%
Summary of Investment Holdings
Maturity Date	[7],[8],[14]			2028-02				2028-02
Basis spread variable rate	[5],[7],[8],[14]			(1.50%)				(1.50%)
Interest rate floor	[5],[7],[8],[14]			4.75%				4.75%
Interest rate paid in kind	[5],[7],[8],[14]			5.50%				5.50%
Principal amount	[7],[8],[14]			$ 10,469
Investment cost	[6],[7],[8],[14]			10,286
Investments, at fair value:	[7],[8],[14]			10,618
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services and Next Insurance, Inc, Senior Secured, Maturity Date February 2028, Prime - 1.50%, Floor rate 4.75%, PIK Interest 5.50%
Summary of Investment Holdings
Maturity Date	[19],[22],[24]	2028-02				2028-02
Basis spread variable rate	[19],[21],[22],[24]	(1.50%)				(1.50%)
Interest rate floor	[19],[21],[22],[24]	4.75%				4.75%
Interest rate paid in kind	[19],[21],[22],[24]	5.50%				5.50%
Principal amount	[19],[22],[24]	$ 11,070
Investment cost	[2],[19],[22],[24]	10,918
Investments, at fair value:	[19],[22],[24]	$ 11,174
Investment, Identifier [Axis]: Debt Investments Diversified Financial Services, Gibraltar Acquisition, LLC
Summary of Investment Holdings
Principal amount				35,000
Investment cost	[6]			34,478
Investments, at fair value:				$ 34,478
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development (52.10%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	52.10%				52.10%
Investment cost	[2]	$ 1,022,084
Investments, at fair value:		$ 1,036,554
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development (66.60%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			66.60%				66.60%
Investment cost	[6]			$ 1,184,022
Investments, at fair value:				$ 1,200,667
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and ATAI Life Sciences N.V., Senior Secured, Maturity Date August 2026, Prime + 4.30%, Floor rate 9.05%, 6.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[25],[26]	2026-08				2026-08
Basis spread variable rate	[21],[23],[25],[26]	4.30%				4.30%
Interest rate floor	[21],[23],[25],[26]	9.05%				9.05%
Exit fee rate	[21],[23],[25],[26]	6.95%				6.95%
Principal amount	[23],[25],[26]	$ 14,000
Investment cost	[2],[23],[25],[26]	14,442
Investments, at fair value:	[23],[25],[26]	$ 14,385
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and ATAI Life Sciences N.V., Senior Secured, Maturity Date August 2026, Prime + 4.55%, Floor rate 8.55%, 6.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2026-08				2026-08
Basis spread variable rate	[5],[9],[10]			4.55%				4.55%
Interest rate floor	[5],[9],[10]			8.55%				8.55%
Exit fee rate	[5],[9],[10]			6.95%				6.95%
Principal amount	[9],[10]			$ 10,500
Investment cost	[6],[9],[10]			10,695
Investments, at fair value:	[9],[10]			$ 10,904
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Adaptimmune Therapeutics plc, Inc. , Senior Secured, Maturity Date June 2029, Prime + 1.15%, Floor rate 9.65%, PIK Interest 2.00%, 5.85% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26],[32]	2029-06				2029-06
Basis spread variable rate	[21],[24],[25],[26],[32]	1.15%				1.15%
Interest rate floor	[21],[24],[25],[26],[32]	9.65%				9.65%
Interest rate paid in kind	[21],[24],[25],[26],[32]	2%				2%
Exit fee rate	[21],[24],[25],[26],[32]	5.85%				5.85%
Principal amount	[24],[25],[26],[32]	$ 30,260
Investment cost	[2],[24],[25],[26],[32]	30,121
Investments, at fair value:	[24],[25],[26],[32]	$ 31,198
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc., Senior Secured, Maturity Date January 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee
Summary of Investment Holdings
Maturity Date	[8],[9],[13]			2027-01				2027-01
Basis spread variable rate	[5],[8],[9],[13]			3.65%				3.65%
Interest rate floor	[5],[8],[9],[13]			7.65%				7.65%
Exit fee rate	[5],[8],[9],[13]			5.85%				5.85%
Principal amount	[8],[9],[13]			$ 12,500
Investment cost	[6],[8],[9],[13]			12,525
Investments, at fair value:	[8],[9],[13]			$ 13,065
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc., Senior Secured, Maturity Date March 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[23],[25]	2027-03				2027-03
Basis spread variable rate	[19],[21],[23],[25]	3.65%				3.65%
Interest rate floor	[19],[21],[23],[25]	7.65%				7.65%
Exit fee rate	[19],[21],[23],[25]	5.85%				5.85%
Principal amount	[19],[23],[25]	$ 17,500
Investment cost	[2],[19],[23],[25]	17,706
Investments, at fair value:	[19],[23],[25]	$ 18,005
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc., Senior Secured, Maturity Date April 2026, Prime + 3.10%, Floor rate 11.10%, 8.90% Exit Fee
Summary of Investment Holdings
Maturity Date	[32]	2026-04				2026-04
Basis spread variable rate	[21],[32]	3.10%				3.10%
Interest rate floor	[21],[32]	11.10%				11.10%
Exit fee rate	[21],[32]	8.90%				8.90%
Principal amount	[32]	$ 15,000
Investment cost	[2],[32]	15,046
Investments, at fair value:	[32]	$ 15,153
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc., Senior Secured, Maturity Date October 2024, Prime + 3.10%, Floor rate 8.60%, 8.90% Exit Fee
Summary of Investment Holdings
Maturity Date	[4]			2024-10				2024-10
Basis spread variable rate	[4],[5]			3.10%				3.10%
Interest rate floor	[4],[5]			8.60%				8.60%
Exit fee rate	[4],[5]			8.90%				8.90%
Principal amount	[4]			$ 15,000
Investment cost	[4],[6]			15,152
Investments, at fair value:	[4]			$ 15,152
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Alladapt Immunotherapeutics Inc., Senior Secured, Maturity Date September 2026, Prime + 3.65%, Floor rate 8.40%, Cap rate 10.90%, 5.30% Exit Fee
Summary of Investment Holdings
Maturity Date	[13]			2026-09				2026-09
Basis spread variable rate	[5],[13]			3.65%				3.65%
Interest rate floor	[5],[13]			8.40%				8.40%
Interest rate cap	[5],[13]			10.90%				10.90%
Exit fee rate	[5],[13]			5.30%				5.30%
Principal amount	[13]			$ 35,000
Investment cost	[6],[13]			35,173
Investments, at fair value:	[13]			$ 36,855
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Allector, Inc., Senior Secured, Maturity Date December 2028, Prime + 1.05%, Floor rate 8.05%, 4.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[25],[39]	2028-12				2028-12
Basis spread variable rate	[1],[21],[23],[25],[39]	1.05%				1.05%
Interest rate floor	[1],[21],[23],[25],[39]	8.05%				8.05%
Exit fee rate	[1],[21],[23],[25],[39]	4.75%				4.75%
Principal amount	[1],[23],[25],[39]	$ 7,000
Investment cost	[1],[2],[23],[25],[39]	6,930
Investments, at fair value:	[1],[23],[25],[39]	$ 6,930
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and AmplifyBio, LLC, Senior Secured, Maturity Date January 2027, Prime + 2.50%, Floor rate 9.50%, Cap rate 10.75%, 5.85% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-01	[1]	2027-01	[12]	2027-01	[1]	2027-01	[12]
Basis spread variable rate		2.50%	[1],[21]	2.50%	[5],[12]	2.50%	[1],[21]	2.50%	[5],[12]
Interest rate floor		9.50%	[1],[21]	9.50%	[5],[12]	9.50%	[1],[21]	9.50%	[5],[12]
Interest rate cap		10.75%	[1],[21]	10.75%	[5],[12]	10.75%	[1],[21]	10.75%	[5],[12]
Exit fee rate		5.85%	[1],[21]	5.85%	[5],[12]	5.85%	[1],[21]	5.85%	[5],[12]
Principal amount		$ 24,000	[1]	$ 24,000	[12]
Investment cost		24,640	[1],[2]	24,120	[6],[12]
Investments, at fair value:		$ 24,940	[1]	$ 24,514	[12]
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Arcus Biosciences, Inc., Senior Secured, Maturity Date September 2029, Prime + 1.95%, Floor rate 10.45%, 7.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[25],[39]	2029-09				2029-09
Basis spread variable rate	[1],[21],[23],[25],[39]	1.95%				1.95%
Interest rate floor	[1],[21],[23],[25],[39]	10.45%				10.45%
Exit fee rate	[1],[21],[23],[25],[39]	7.75%				7.75%
Principal amount	[1],[23],[25],[39]	$ 37,500
Investment cost	[1],[2],[23],[25],[39]	37,379
Investments, at fair value:	[1],[23],[25],[39]	$ 37,379
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Senior Secured, Maturity Date January 2028 Prime + 2.20%, Floor rate 9.95%, Cap rate 10.70%, 5.78% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[25],[31],[32]	2028-01				2028-01
Basis spread variable rate	[20],[21],[25],[31],[32]	2.20%				2.20%
Interest rate floor	[20],[21],[25],[31],[32]	9.95%				9.95%
Interest rate cap	[20],[21],[25],[31],[32]	10.70%				10.70%
Exit fee rate	[20],[21],[25],[31],[32]	5.78%				5.78%
Principal amount	[20],[25],[31],[32]	$ 143,350
Investment cost	[2],[20],[25],[31],[32]	145,451
Investments, at fair value:	[20],[25],[31],[32]	$ 152,945
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Senior Secured, Maturity Date January 2028, Prime + 2.20%, Floor rate 9.95%, Cap rate 10.70%, 5.78% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[9],[16],[30]			2028-01				2028-01
Basis spread variable rate	[4],[5],[9],[16],[30]			2.20%				2.20%
Interest rate floor	[4],[5],[9],[16],[30]			9.95%				9.95%
Interest rate cap	[4],[5],[9],[16],[30]			10.70%				10.70%
Exit fee rate	[4],[5],[9],[16],[30]			5.78%				5.78%
Principal amount	[4],[9],[16],[30]			$ 143,350
Investment cost	[4],[6],[9],[16],[30]			143,646
Investments, at fair value:	[4],[9],[16],[30]			$ 150,255
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Bicycle Therapeutics PLC, Senior Secured, Maturity Date July 2025, Prime + 4.55%, Floor Rate 8.05%, Cap rate 9.05%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[9],[10],[16]			2025-07				2025-07
Basis spread variable rate	[4],[5],[9],[10],[16]			4.55%				4.55%
Interest rate floor	[4],[5],[9],[10],[16]			8.05%				8.05%
Interest rate cap	[4],[5],[9],[10],[16]			9.05%				9.05%
Exit fee rate	[4],[5],[9],[10],[16]			5%				5%
Principal amount	[4],[9],[10],[16]			$ 11,500
Investment cost	[4],[6],[9],[10],[16]			11,880
Investments, at fair value:	[4],[9],[10],[16]			$ 11,783
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and BiomX, INC, Senior Secured, Maturity Date September 2025, Prime + 5.70%, Floor rate 8.95%, 6.55% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[9],[10]			2025-09				2025-09
Basis spread variable rate	[4],[5],[9],[10]			5.70%				5.70%
Interest rate floor	[4],[5],[9],[10]			8.95%				8.95%
Exit fee rate	[4],[5],[9],[10]			6.55%				6.55%
Principal amount	[4],[9],[10]			$ 6,448
Investment cost	[4],[6],[9],[10]			6,807
Investments, at fair value:	[4],[9],[10]			$ 6,790
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Braeburn Inc, Senior Secured, Maturity Date October 2028, Prime + 2.45%, Floor rate 10.95%,PIK Interest 1.10% 5.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[7]			2028-10				2028-10
Basis spread variable rate	[5],[7]			2.45%				2.45%
Interest rate floor	[5],[7]			10.95%				10.95%
Interest rate paid in kind	[5],[7]			1.10%				1.10%
Exit fee rate	[5],[7]			5.45%				5.45%
Principal amount	[7]			$ 52,601
Investment cost	[6],[7]			52,185
Investments, at fair value:	[7]			$ 52,185
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Braeburn, Inc., Senior Secured, Maturity Date October 2028, Prime + 2.45%, Floor rate 10.95%, PIK Interest 1.10%, 5.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[24]	2028-10				2028-10
Basis spread variable rate	[21],[24]	2.45%				2.45%
Interest rate floor	[21],[24]	10.95%				10.95%
Interest rate paid in kind	[21],[24]	1.10%				1.10%
Exit fee rate	[21],[24]	5.45%				5.45%
Principal amount	[24]	$ 53,192
Investment cost	[2],[24]	53,374
Investments, at fair value:	[24]	$ 55,626
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and BridgeBio Pharma, Inc. Senior Secured, Maturity Date November 2026, FIXED 9.00%, 2.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13],[16]			2026-11				2026-11
Interest rate paid in cash	[5],[7],[13],[16]			9%				9%
Exit fee rate	[5],[7],[13],[16]			2%				2%
Principal amount	[7],[13],[16]			$ 38,167
Investment cost	[6],[7],[13],[16]			38,124
Investments, at fair value:	[7],[13],[16]			$ 35,498
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and COMPASS Pathways plc, Senior Secured, Maturity Date July 2027, Prime + 1.50%, Floor rate 9.75%, PIK Interest 1.40%, 4.75% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-07	[24],[25],[26],[32]	2027-07	[7],[9],[10]	2027-07	[24],[25],[26],[32]	2027-07	[7],[9],[10]
Basis spread variable rate		1.50%	[21],[24],[25],[26],[32]	1.50%	[5],[7],[9],[10]	1.50%	[21],[24],[25],[26],[32]	1.50%	[5],[7],[9],[10]
Interest rate floor		9.75%	[21],[24],[25],[26],[32]	9.75%	[5],[7],[9],[10]	9.75%	[21],[24],[25],[26],[32]	9.75%	[5],[7],[9],[10]
Interest rate paid in kind		1.40%	[21],[24],[25],[26],[32]	1.40%	[5],[7],[9],[10]	1.40%	[21],[24],[25],[26],[32]	1.40%	[5],[7],[9],[10]
Exit fee rate		4.75%	[21],[24],[25],[26],[32]	4.75%	[5],[7],[9],[10]	4.75%	[21],[24],[25],[26],[32]	4.75%	[5],[7],[9],[10]
Principal amount		$ 24,490	[24],[25],[26],[32]	$ 24,144	[7],[9],[10]
Investment cost		24,613	[2],[24],[25],[26],[32]	23,798	[6],[7],[9],[10]
Investments, at fair value:		$ 25,608	[24],[25],[26],[32]	$ 24,601	[7],[9],[10]
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Cellarity, Inc., Senior Secured, Maturity Date June 2026, Prime + 5.70%, Floor rate 8.95%, 3.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[12],[13]			2026-06				2026-06
Basis spread variable rate	[5],[12],[13]			5.70%				5.70%
Interest rate floor	[5],[12],[13]			8.95%				8.95%
Exit fee rate	[5],[12],[13]			3.75%				3.75%
Principal amount	[12],[13]			$ 29,193
Investment cost	[6],[12],[13]			29,482
Investments, at fair value:	[12],[13]			$ 30,051
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Corium, Inc., Senior Secured, Maturity Date September 2026, Prime + 5.70%, Floor rate 8.95%, 7.75% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-09	[19],[31]	2026-09	[13],[30]	2026-09	[19],[31]	2026-09	[13],[30]
Basis spread variable rate		5.70%	[19],[21],[31]	5.70%	[5],[13],[30]	5.70%	[19],[21],[31]	5.70%	[5],[13],[30]
Interest rate floor		8.95%	[19],[21],[31]	8.95%	[5],[13],[30]	8.95%	[19],[21],[31]	8.95%	[5],[13],[30]
Exit fee rate		7.75%	[19],[21],[31]	7.75%	[5],[13],[30]	7.75%	[19],[21],[31]	7.75%	[5],[13],[30]
Principal amount		$ 105,225	[19],[31]	$ 105,225	[13],[30]
Investment cost		109,543	[2],[19],[31]	107,667	[6],[13],[30]
Investments, at fair value:		$ 109,178	[19],[31]	$ 108,545	[13],[30]
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Curevo, Inc., Senior Secured, Maturity Date June 2027, Prime +1.70%, Floor rate 9.70%, 6.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2027-06				2027-06
Basis spread variable rate	[5],[12]			1.70%				1.70%
Interest rate floor	[5],[12]			9.70%				9.70%
Exit fee rate	[5],[12]			6.95%				6.95%
Principal amount	[12]			$ 10,000
Investment cost	[6],[12]			9,821
Investments, at fair value:	[12]			$ 10,076
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Disc Medicine, Inc., Senior Secured, Maturity Date December 2029 Prime + 1.75%, Floor rate 8.25%, 6.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[25],[39]	2029-12				2029-12
Basis spread variable rate	[1],[21],[23],[25],[39]	1.75%				1.75%
Interest rate floor	[1],[21],[23],[25],[39]	8.25%				8.25%
Exit fee rate	[1],[21],[23],[25],[39]	6.75%				6.75%
Principal amount	[1],[23],[25],[39]	$ 22,500
Investment cost	[1],[2],[23],[25],[39]	22,363
Investments, at fair value:	[1],[23],[25],[39]	$ 22,363
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc., Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[1]	2025-04				2025-04
Basis spread variable rate	[1],[21]	6.25%				6.25%
Interest rate floor	[1],[21]	9.50%				9.50%
Exit fee rate	[1],[21]	4%				4%
Principal amount	[1]	$ 489
Investment cost	[1],[2]	988
Investments, at fair value:	[1]	$ 988
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc., Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2025-04				2025-04
Basis spread variable rate	[5],[12]			6.25%				6.25%
Interest rate floor	[5],[12]			9.50%				9.50%
Exit fee rate	[5],[12]			6.55%				6.55%
Principal amount	[12]			$ 3,099
Investment cost	[6],[12]			3,789
Investments, at fair value:	[12]			$ 3,731
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and G1 Therapeutics, Inc., Senior Secured, Maturity Date November 2026, Prime + 5.65%, Floor rate 9.15%, 11.41% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[12],[16]			2026-11				2026-11
Basis spread variable rate	[4],[5],[12],[16]			5.65%				5.65%
Interest rate floor	[4],[5],[12],[16]			9.15%				9.15%
Exit fee rate	[4],[5],[12],[16]			11.41%				11.41%
Principal amount	[4],[12],[16]			$ 38,750
Investment cost	[4],[6],[12],[16]			39,679
Investments, at fair value:	[4],[12],[16]			$ 40,421
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Geron Corporation, Senior Secured, Maturity Date April 2025, Prime + 4.50%, Floor rate 9.00%, 6.55% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[13],[16]			2025-04				2025-04
Basis spread variable rate	[5],[9],[13],[16]			4.50%				4.50%
Interest rate floor	[5],[9],[13],[16]			9%				9%
Exit fee rate	[5],[9],[13],[16]			6.55%				6.55%
Principal amount	[9],[13],[16]			$ 30,200
Investment cost	[6],[9],[13],[16]			31,005
Investments, at fair value:	[9],[13],[16]			$ 31,210
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Gritstone Bio, Inc., Senior Secured, Maturity Date July 2027, Prime + 3.15%, Floor rate 7.15%, Cap rate 8.65%, PIK Interest 2.00%, 5.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13]			2027-07				2027-07
Basis spread variable rate	[5],[7],[13]			3.15%				3.15%
Interest rate floor	[5],[7],[13]			7.15%				7.15%
Interest rate cap	[5],[7],[13]			8.65%				8.65%
Interest rate paid in kind	[5],[7],[13]			2%				2%
Exit fee rate	[5],[7],[13]			5.75%				5.75%
Principal amount	[7],[13]			$ 30,532
Investment cost	[6],[7],[13]			30,717
Investments, at fair value:	[7],[13]			$ 30,909
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Heron Therapeutics Inc., Senior Secured, Maturity Date February 2026, Prime + 1.70%, Floor rate 9.95%, PIK Interest 1.50%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[12]			2026-02				2026-02
Basis spread variable rate	[5],[7],[8],[12]			1.70%				1.70%
Interest rate floor	[5],[7],[8],[12]			9.95%				9.95%
Interest rate paid in kind	[5],[7],[8],[12]			1.50%				1.50%
Exit fee rate	[5],[7],[8],[12]			3%				3%
Principal amount	[7],[8],[12]			$ 20,095
Investment cost	[6],[7],[8],[12]			19,788
Investments, at fair value:	[7],[8],[12]			$ 19,788
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Heron Therapeutics, Inc., Senior Secured, Maturity Date February 2026, Prime + 1.70%, Floor rate 9.95%, PIK Interest 1.50%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[24]	2026-02				2026-02
Basis spread variable rate	[1],[21],[23],[24]	1.70%				1.70%
Interest rate floor	[1],[21],[23],[24]	9.95%				9.95%
Interest rate paid in kind	[1],[21],[23],[24]	1.50%				1.50%
Exit fee rate	[1],[21],[23],[24]	3%				3%
Principal amount	[1],[23],[24]	$ 20,404
Investment cost	[1],[2],[23],[24]	20,484
Investments, at fair value:	[1],[23],[24]	$ 21,014
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Hibercell Inc., Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[12],[13]			2025-05				2025-05
Basis spread variable rate	[5],[12],[13]			5.40%				5.40%
Interest rate floor	[5],[12],[13]			8.65%				8.65%
Exit fee rate	[5],[12],[13]			4.95%				4.95%
Principal amount	[12],[13]			$ 12,535
Investment cost	[6],[12],[13]			13,117
Investments, at fair value:	[12],[13]			$ 13,181
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Hibercell, Inc., Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[19]	2025-05				2025-05
Basis spread variable rate	[1],[19],[21]	5.40%				5.40%
Interest rate floor	[1],[19],[21]	8.65%				8.65%
Exit fee rate	[1],[19],[21]	4.95%				4.95%
Principal amount	[1],[19]	$ 3,963
Investment cost	[1],[2],[19]	4,755
Investments, at fair value:	[1],[19]	$ 4,749
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and HilleVax, Inc., Senior Secured, Maturity Date May 2027, Prime + 1.05%, Floor rate 4.55%, Cap rate 6.05%, PIK Interest 2.85%, 7.15% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[12]			2027-05				2027-05
Basis spread variable rate	[5],[7],[12]			1.05%				1.05%
Interest rate floor	[5],[7],[12]			4.55%				4.55%
Interest rate cap	[5],[7],[12]			6.05%				6.05%
Interest rate paid in kind	[5],[7],[12]			2.85%				2.85%
Exit fee rate	[5],[7],[12]			7.15%				7.15%
Principal amount	[7],[12]			$ 20,524
Investment cost	[6],[7],[12]			20,685
Investments, at fair value:	[7],[12]			$ 20,335
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Kura Oncology, Inc., Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee
Summary of Investment Holdings
Maturity Date	[8],[9],[12]			2027-11				2027-11
Basis spread variable rate	[5],[8],[9],[12]			2.40%				2.40%
Interest rate floor	[5],[8],[9],[12]			8.65%				8.65%
Exit fee rate	[5],[8],[9],[12]			15.13%				15.13%
Principal amount	[8],[9],[12]			$ 5,500
Investment cost	[6],[8],[9],[12]			5,532
Investments, at fair value:	[8],[9],[12]			$ 5,752
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Kura Oncology, Inc., Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 6.05% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[25]	2027-11				2027-11
Basis spread variable rate	[1],[21],[25]	2.40%				2.40%
Interest rate floor	[1],[21],[25]	8.65%				8.65%
Exit fee rate	[1],[21],[25]	6.05%				6.05%
Principal amount	[1],[25]	$ 5,500
Investment cost	[1],[2],[25]	5,622
Investments, at fair value:	[1],[25]	$ 5,721
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Locus Biosciences, Inc., Senior Secured, Maturity Date July 2025, Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2025-07				2025-07
Basis spread variable rate	[5],[12]			6.10%				6.10%
Interest rate floor	[5],[12]			9.35%				9.35%
Exit fee rate	[5],[12]			4.95%				4.95%
Principal amount	[12]			$ 5,399
Investment cost	[6],[12]			5,651
Investments, at fair value:	[12]			$ 5,686
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Senior Secured, Maturity Date May 2026, Prime + 2.45%, Floor rate 8.25%, 5.35% Exit Fee
Summary of Investment Holdings
Maturity Date	[9]			2026-05				2026-05
Basis spread variable rate	[5],[9]			2.45%				2.45%
Interest rate floor	[5],[9]			8.25%				8.25%
Exit fee rate	[5],[9]			5.35%				5.35%
Principal amount	[9]			$ 78,200
Investment cost	[6],[9]			78,728
Investments, at fair value:	[9]			$ 81,945
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Senior Secured, Maturity Date May 2027, Prime + 2.45%, Floor rate 8.25%, 5.35% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[25]	2027-05				2027-05
Basis spread variable rate	[19],[21],[25]	2.45%				2.45%
Interest rate floor	[19],[21],[25]	8.25%				8.25%
Exit fee rate	[19],[21],[25]	5.35%				5.35%
Principal amount	[19],[25]	$ 78,200
Investment cost	[2],[19],[25]	79,896
Investments, at fair value:	[19],[25]	$ 82,775
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and NorthSea Therapeutics, Convertible Debt, Maturity Date December 2025, FIXED 6.00%
Summary of Investment Holdings
Maturity Date	[25],[26],[27]	2025-12				2025-12
Interest rate paid in cash	[21],[25],[26],[27]	6%				6%
Principal amount	[25],[26],[27]	$ 273
Investment cost	[2],[25],[26],[27]	273
Investments, at fair value:	[25],[26],[27]	$ 273
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Phanthom Pharmaceuticals, Inc., Senior Secured, Maturity Date December 2027, Prime + 1.35%, Floor rate 9.85%, PIK Interest 2.15%, 7.29% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[8],[9],[12],[16],[30],[40]			2027-12				2027-12
Basis spread variable rate	[5],[7],[8],[9],[12],[16],[30],[40]			1.35%				1.35%
Interest rate floor	[5],[7],[8],[9],[12],[16],[30],[40]			9.85%				9.85%
Interest rate paid in kind	[5],[7],[8],[9],[12],[16],[30],[40]			2.15%				2.15%
Exit fee rate	[5],[7],[8],[9],[12],[16],[30],[40]			7.29%				7.29%
Principal amount	[7],[8],[9],[12],[16],[30],[40]			$ 129,699
Investment cost	[6],[7],[8],[9],[12],[16],[30],[40]			130,934
Investments, at fair value:	[7],[8],[9],[12],[16],[30],[40]			$ 128,326
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Senior Secured, Maturity Date December 2027, Prime + 1.35%, Floor rate 9.85%, Cap rate 10.35%, PIK Interest 2.15%, 6.22% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[20],[24],[25],[31],[39],[41]	2027-12				2027-12
Basis spread variable rate	[1],[20],[21],[24],[25],[31],[39],[41]	1.35%				1.35%
Interest rate floor	[1],[20],[21],[24],[25],[31],[39],[41]	9.85%				9.85%
Interest rate cap	[1],[20],[21],[24],[25],[31],[39],[41]	10.35%				10.35%
Interest rate paid in kind	[1],[20],[21],[24],[25],[31],[39],[41]	2.15%				2.15%
Exit fee rate	[1],[20],[21],[24],[25],[31],[39],[41]	6.22%				6.22%
Principal amount	[1],[20],[24],[25],[31],[39],[41]	$ 169,234
Investment cost	[1],[2],[20],[24],[25],[31],[39],[41]	171,805
Investments, at fair value:	[1],[20],[24],[25],[31],[39],[41]	$ 176,130
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Redshift Bioanalytics, Inc., Senior Secured, Maturity Date January 2026, Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2026-01				2026-01
Basis spread variable rate	[5],[12]			4.25%				4.25%
Interest rate floor	[5],[12]			7.50%				7.50%
Exit fee rate	[5],[12]			3.80%				3.80%
Principal amount	[12]			$ 5,000
Investment cost	[6],[12]			5,047
Investments, at fair value:	[12]			$ 5,119
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Replimune Group, Inc., Senior Secured, Maturity Date October 2027, Prime + 1.75%, Floor rate 7.25%, Cap rate 9.00%, PIK Interest 1.50%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-10	[19],[20],[24],[25]	2027-10	[7],[9],[16]	2027-10	[19],[20],[24],[25]	2027-10	[7],[9],[16]
Basis spread variable rate		1.75%	[19],[20],[21],[24],[25]	1.75%	[5],[7],[9],[16]	1.75%	[19],[20],[21],[24],[25]	1.75%	[5],[7],[9],[16]
Interest rate floor		7.25%	[19],[20],[21],[24],[25]	7.25%	[5],[7],[9],[16]	7.25%	[19],[20],[21],[24],[25]	7.25%	[5],[7],[9],[16]
Interest rate cap		9%	[19],[20],[21],[24],[25]	9%	[5],[7],[9],[16]	9%	[19],[20],[21],[24],[25]	9%	[5],[7],[9],[16]
Interest rate paid in kind		1.50%	[19],[20],[21],[24],[25]	1.50%	[5],[7],[9],[16]	1.50%	[19],[20],[21],[24],[25]	1.50%	[5],[7],[9],[16]
Exit fee rate		4.95%	[19],[20],[21],[24],[25]	4.95%	[5],[7],[9],[16]	4.95%	[19],[20],[21],[24],[25]	4.95%	[5],[7],[9],[16]
Principal amount		$ 31,889	[19],[20],[24],[25]	$ 31,416	[7],[9],[16]
Investment cost		32,294	[2],[19],[20],[24],[25]	31,450	[6],[7],[9],[16]
Investments, at fair value:		$ 33,745	[19],[20],[24],[25]	$ 32,702	[7],[9],[16]
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and SynOx Therapeutics Limited, Senior Secured, Maturity Date May 2027, Prime + 1.40%, Floor rate 9.90%, 7.25% Exit Fee
Summary of Investment Holdings
Maturity Date	[25],[26],[32]	2027-05				2027-05
Basis spread variable rate	[21],[25],[26],[32]	1.40%				1.40%
Interest rate floor	[21],[25],[26],[32]	9.90%				9.90%
Exit fee rate	[21],[25],[26],[32]	7.25%				7.25%
Principal amount	[25],[26],[32]	$ 4,500
Investment cost	[2],[25],[26],[32]	4,471
Investments, at fair value:	[25],[26],[32]	$ 4,573
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and TG Therapeutics, Inc., Senior Secured, Maturity Date January 2026, Prime + 1.20%, Floor rate 8.95%, PIK Interest 2.25%, 5.69% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[7],[9],[16]			2026-01				2026-01
Basis spread variable rate	[4],[5],[7],[9],[16]			1.20%				1.20%
Interest rate floor	[4],[5],[7],[9],[16]			8.95%				8.95%
Interest rate paid in kind	[4],[5],[7],[9],[16]			2.25%				2.25%
Exit fee rate	[4],[5],[7],[9],[16]			5.69%				5.69%
Principal amount	[4],[7],[9],[16]			$ 65,770
Investment cost	[4],[6],[7],[9],[16]			66,439
Investments, at fair value:	[4],[7],[9],[16]			$ 67,610
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc., Senior Secured, Maturity Date February 2027, Prime + 4.45%, Floor Rate 8.45%, Cap rate 11.45%, 4.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[8],[9],[13]			2027-02				2027-02
Basis spread variable rate	[5],[8],[9],[13]			4.45%				4.45%
Interest rate floor	[5],[8],[9],[13]			8.45%				8.45%
Interest rate cap	[5],[8],[9],[13]			11.45%				11.45%
Exit fee rate	[5],[8],[9],[13]			4.75%				4.75%
Principal amount	[8],[9],[13]			$ 12,375
Investment cost	[6],[8],[9],[13]			12,488
Investments, at fair value:	[8],[9],[13]			$ 12,916
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Valo Health, LLC, Senior Secured, Maturity Date May 2024, Prime + 6.45%, Floor rate 9.70%, 3.85% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[13]			2024-05				2024-05
Basis spread variable rate	[4],[5],[13]			6.45%				6.45%
Interest rate floor	[4],[5],[13]			9.70%				9.70%
Exit fee rate	[4],[5],[13]			3.85%				3.85%
Principal amount	[4],[13]			$ 2,396
Investment cost	[4],[6],[13]			2,808
Investments, at fair value:	[4],[13]			$ 2,808
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Verona Pharma Inc., Senior Secured, Maturity Date December 2028, 1-month SOFR +5.85%, Floor rate 11.19%, Cap rate 13.19%, 3.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2028-12				2028-12
Basis spread variable rate	[5],[9],[10]			5.85%				5.85%
Interest rate floor	[5],[9],[10]			11.19%				11.19%
Interest rate cap	[5],[9],[10]			13.19%				13.19%
Exit fee rate	[5],[9],[10]			3.50%				3.50%
Principal amount	[9],[10]			$ 15,750
Investment cost	[6],[9],[10]			15,646
Investments, at fair value:	[9],[10]			$ 15,646
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and Viridian Therapeutics, Inc., Senior Secured, Maturity Date October 2026, Prime + 4.20%, Floor rate 7.45%, Cap rate 8.95%, 6.00% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-10	[19],[23],[25]	2026-10	[9],[13]	2026-10	[19],[23],[25]	2026-10	[9],[13]
Basis spread variable rate		4.20%	[19],[21],[23],[25]	4.20%	[5],[9],[13]	4.20%	[19],[21],[23],[25]	4.20%	[5],[9],[13]
Interest rate floor		7.45%	[19],[21],[23],[25]	7.45%	[5],[9],[13]	7.45%	[19],[21],[23],[25]	7.45%	[5],[9],[13]
Interest rate cap		8.95%	[19],[21],[23],[25]	8.95%	[5],[9],[13]	8.95%	[19],[21],[23],[25]	8.95%	[5],[9],[13]
Exit fee rate		6%	[19],[21],[23],[25]	6%	[5],[9],[13]	6%	[19],[21],[23],[25]	6%	[5],[9],[13]
Principal amount		$ 8,000	[19],[23],[25]	$ 8,000	[9],[13]
Investment cost		8,231	[2],[19],[23],[25]	8,057	[6],[9],[13]
Investments, at fair value:		$ 8,523	[19],[23],[25]	$ 8,023	[9],[13]
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Senior Secured, Maturity Date July 2027, Prime + 3.15%, Floor rate 10.15%, 3.72% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[20],[32]	2027-07				2027-07
Basis spread variable rate	[19],[20],[21],[32]	3.15%				3.15%
Interest rate floor	[19],[20],[21],[32]	10.15%				10.15%
Exit fee rate	[19],[20],[21],[32]	3.72%				3.72%
Principal amount	[19],[20],[32]	$ 75,000
Investment cost	[2],[19],[20],[32]	75,512
Investments, at fair value:	[19],[20],[32]	$ 75,725
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Senior Secured, Maturity Date October 2026, Prime + 3.15%, Floor rate 10.15%, 3.80% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[13],[16]			2026-10				2026-10
Basis spread variable rate	[4],[5],[13],[16]			3.15%				3.15%
Interest rate floor	[4],[5],[13],[16]			10.15%				10.15%
Exit fee rate	[4],[5],[13],[16]			3.80%				3.80%
Principal amount	[4],[13],[16]			$ 55,000
Investment cost	[4],[6],[13],[16]			54,680
Investments, at fair value:	[4],[13],[16]			$ 55,417
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and bluebird bio, Inc., Senior Secured, Maturity Date April 2029, Prime + 1.45%, Floor rate 9.95%, PIK Interest 2.45%, 6.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[24]	2029-04				2029-04
Basis spread variable rate	[21],[24]	1.45%				1.45%
Interest rate floor	[21],[24]	9.95%				9.95%
Interest rate paid in kind	[21],[24]	2.45%				2.45%
Exit fee rate	[21],[24]	6.45%				6.45%
Principal amount	[24]	$ 65,655
Investment cost	[2],[24]	64,028
Investments, at fair value:	[24]	$ 55,344
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and enGene Inc., Senior Secured, Maturity Date January 2028, Prime + 0.75%, Floor rate 9.25%, Cap rate 9.75%, PIK Interest 1.15%, 5.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2028-01				2028-01
Basis spread variable rate	[5],[9],[10]			0.75%				0.75%
Interest rate floor	[5],[9],[10]			9.25%				9.25%
Interest rate cap	[5],[9],[10]			9.75%				9.75%
Interest rate paid in kind	[5],[9],[10]			1.15%				1.15%
Exit fee rate	[5],[9],[10]			5.50%				5.50%
Principal amount	[9],[10]			$ 15,750
Investment cost	[6],[9],[10]			15,550
Investments, at fair value:	[9],[10]			$ 15,550
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and enGene, Inc., Senior Secured, Maturity Date January 2028, Prime + 0.75%, Floor rate 9.25%, Cap rate 9.75%, PIK Interest 1.15%, 5.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26]	2028-01				2028-01
Basis spread variable rate	[21],[24],[25],[26]	0.75%				0.75%
Interest rate floor	[21],[24],[25],[26]	9.25%				9.25%
Interest rate cap	[21],[24],[25],[26]	9.75%				9.75%
Interest rate paid in kind	[21],[24],[25],[26]	1.15%				1.15%
Exit fee rate	[21],[24],[25],[26]	5.50%				5.50%
Principal amount	[24],[25],[26]	$ 15,924
Investment cost	[2],[24],[25],[26]	16,015
Investments, at fair value:	[24],[25],[26]	$ 16,149
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and uniQure B.V., Senior Secured, Maturity Date December 2027, Prime + 4.70%, Floor rate 7.95%, 6.10% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[9],[10],[16]			2027-01				2027-01
Basis spread variable rate	[4],[5],[9],[10],[16]			4.70%				4.70%
Interest rate floor	[4],[5],[9],[10],[16]			7.95%				7.95%
Exit fee rate	[4],[5],[9],[10],[16]			6.10%				6.10%
Principal amount	[4],[9],[10],[16]			$ 70,000
Investment cost	[4],[6],[9],[10],[16]			71,157
Investments, at fair value:	[4],[9],[10],[16]			$ 73,318
Investment, Identifier [Axis]: Debt Investments Drug Discovery & Development and uniQure B.V., Senior Secured, Maturity Date January 2027, Prime + 4.70%, Floor rate 7.95%, 6.10% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[25],[26],[32]	2027-01				2027-01
Basis spread variable rate	[20],[21],[25],[26],[32]	4.70%				4.70%
Interest rate floor	[20],[21],[25],[26],[32]	7.95%				7.95%
Exit fee rate	[20],[21],[25],[26],[32]	6.10%				6.10%
Principal amount	[20],[25],[26],[32]	$ 35,000
Investment cost	[2],[20],[25],[26],[32]	36,102
Investments, at fair value:	[20],[25],[26],[32]	$ 37,135
Investment, Identifier [Axis]: Debt Investments Electronics & Computer Hardware (1.05%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			1.05%				1.05%
Investment cost	[6]			$ 18,348
Investments, at fair value:				$ 18,982
Investment, Identifier [Axis]: Debt Investments Electronics & Computer Hardware (8.13%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	8.13%				8.13%
Investment cost	[2]	$ 161,468
Investments, at fair value:		$ 161,687
Investment, Identifier [Axis]: Debt Investments Electronics & Computer Hardware and Locus Robotics Corp., Senior Secured, Maturity Date December 2028, Prime + 3.00%, Floor rate 9.50%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[39]	2028-12				2028-12
Basis spread variable rate	[1],[21],[23],[39]	3%				3%
Interest rate floor	[1],[21],[23],[39]	9.50%				9.50%
Exit fee rate	[1],[21],[23],[39]	4%				4%
Principal amount	[1],[23],[39]	$ 48,750
Investment cost	[1],[2],[23],[39]	48,557
Investments, at fair value:	[1],[23],[39]	$ 47,986
Investment, Identifier [Axis]: Debt Investments Electronics & Computer Hardware and Locus Robotics Corp., Senior Secured, Maturity Date June 2026, Prime + 4.50%, Floor rate 8.00%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2026-06				2026-06
Basis spread variable rate	[5],[14]			4.50%				4.50%
Interest rate floor	[5],[14]			8%				8%
Exit fee rate	[5],[14]			4%				4%
Principal amount	[14]			$ 18,281
Investment cost	[6],[14]			18,348
Investments, at fair value:	[14]			$ 18,982
Investment, Identifier [Axis]: Debt Investments Electronics & Computer Hardware and Shield AI, Inc., Senior Secured, Maturity Date February 2029, Prime + 0.85%, Floor rate 6.85%, Cap rate 9.60%, PIK Interest 2.50%, 2.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24],[31]	2029-02				2029-02
Basis spread variable rate	[20],[21],[24],[31]	0.85%				0.85%
Interest rate floor	[20],[21],[24],[31]	6.85%				6.85%
Interest rate cap	[20],[21],[24],[31]	9.60%				9.60%
Interest rate paid in kind	[20],[21],[24],[31]	2.50%				2.50%
Exit fee rate	[20],[21],[24],[31]	2.50%				2.50%
Principal amount	[20],[24],[31]	$ 113,766
Investment cost	[2],[20],[24],[31]	112,911
Investments, at fair value:	[20],[24],[31]	$ 113,701
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other (16.56%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			16.56%				16.56%
Investment cost	[6]			$ 301,164
Investments, at fair value:				$ 298,523
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other (30.19%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	30.19%				30.19%
Investment cost	[2]	$ 599,140
Investments, at fair value:		$ 600,582
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Better Therapeutics, Inc., Senior Secured, Maturity Date August 2025, Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2025-08				2025-08
Basis spread variable rate	[5],[12]			5.70%				5.70%
Interest rate floor	[5],[12]			8.95%				8.95%
Exit fee rate	[5],[12]			5.95%				5.95%
Principal amount	[12]			$ 10,865
Investment cost	[6],[12]			11,285
Investments, at fair value:	[12]			$ 8,455
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc., Senior Secured, Maturity Date November 2026, 1-month SOFR + 5.11%, Floor rate 6.00%, PIK Interest 4.45%
Summary of Investment Holdings
Maturity Date	[4],[7],[13]			2026-11				2026-11
Basis spread variable rate	[4],[5],[7],[13]			5.11%				5.11%
Interest rate floor	[4],[5],[7],[13]			6%				6%
Interest rate paid in kind	[4],[5],[7],[13]			4.45%				4.45%
Principal amount	[4],[7],[13]			$ 69,032
Investment cost	[4],[6],[7],[13]			68,277
Investments, at fair value:	[4],[7],[13]			$ 68,393
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc., Senior Secured, Maturity Date November 2026, 3-month SOFR + 5.26%, Floor rate 6.00%, PIK Interest 4.45%
Summary of Investment Holdings
Maturity Date	[19],[20],[24],[32]	2026-11				2026-11
Basis spread variable rate	[19],[20],[21],[24],[32]	5.26%				5.26%
Interest rate floor	[19],[20],[21],[24],[32]	6%				6%
Interest rate paid in kind	[19],[20],[21],[24],[32]	4.45%				4.45%
Principal amount	[19],[20],[24],[32]	$ 72,220
Investment cost	[2],[19],[20],[24],[32]	71,677
Investments, at fair value:	[19],[20],[24],[32]	$ 70,459
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Carbon Health Technologies, Inc., Convertible Debt, Maturity Date December 2025, FIXED 12.00%
Summary of Investment Holdings
Maturity Date	[27]	2025-12				2025-12
Interest rate paid in cash	[21],[27]	12%				12%
Principal amount	[27]	$ 202
Investment cost	[2],[27]	202
Investments, at fair value:	[27]	$ 202
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Carbon Health Technologies, Inc., Senior Secured, Maturity Date June 2026, Prime -1.50%, Floor rate 7.00%, PIK Interest 7.00%, 5.64% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[24],[32]	2026-06				2026-06
Basis spread variable rate	[19],[21],[24],[32]	(1.50%)				(1.50%)
Interest rate floor	[19],[21],[24],[32]	7%				7%
Interest rate paid in kind	[19],[21],[24],[32]	7%				7%
Exit fee rate	[19],[21],[24],[32]	5.64%				5.64%
Principal amount	[19],[24],[32]	$ 41,473
Investment cost	[2],[19],[24],[32]	43,348
Investments, at fair value:	[19],[24],[32]	$ 41,610
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Carbon Health Technologies, Inc., Senior Secured, Maturity Date March 2025, Prime + 5.60%, Floor rate 8.85%, 4.61% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[13]			2025-03				2025-03
Basis spread variable rate	[4],[5],[13]			5.60%				5.60%
Interest rate floor	[4],[5],[13]			8.85%				8.85%
Exit fee rate	[4],[5],[13]			4.61%				4.61%
Principal amount	[4],[13]			$ 46,125
Investment cost	[4],[6],[13]			47,193
Investments, at fair value:	[4],[13]			$ 46,242
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Curana Health Holdings, LLC, Senior Secured, Maturity Date January 2028, Prime + 1.45%, Floor rate 9.20%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[22],[23]	2028-01				2028-01
Basis spread variable rate	[19],[21],[22],[23]	1.45%				1.45%
Interest rate floor	[19],[21],[22],[23]	9.20%				9.20%
Exit fee rate	[19],[21],[22],[23]	4.95%				4.95%
Principal amount	[19],[22],[23]	$ 27,500
Investment cost	[2],[19],[22],[23]	27,722
Investments, at fair value:	[19],[22],[23]	$ 28,207
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Equality Health, LLC, Senior Secured, Maturity Date February 2026, Prime + 4.25%, Floor rate 9.50%, PIK Interest 1.55%, 1.11% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24],[32]	2026-02				2026-02
Basis spread variable rate	[20],[21],[24],[32]	4.25%				4.25%
Interest rate floor	[20],[21],[24],[32]	9.50%				9.50%
Interest rate paid in kind	[20],[21],[24],[32]	1.55%				1.55%
Exit fee rate	[20],[21],[24],[32]	1.11%				1.11%
Principal amount	[20],[24],[32]	$ 70,678
Investment cost	[2],[20],[24],[32]	70,473
Investments, at fair value:	[20],[24],[32]	$ 70,062
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Equality Health, LLC, Senior Secured, Maturity Date February 2026, Prime + 6.25%, Floor rate 9.50%, PIK Interest 1.55%
Summary of Investment Holdings
Maturity Date	[4],[7],[16]			2026-02				2026-02
Basis spread variable rate	[4],[5],[7],[16]			6.25%				6.25%
Interest rate floor	[4],[5],[7],[16]			9.50%				9.50%
Interest rate paid in kind	[4],[5],[7],[16]			1.55%				1.55%
Principal amount	[4],[7],[16]			$ 54,425
Investment cost	[4],[6],[7],[16]			54,142
Investments, at fair value:	[4],[7],[16]			$ 54,697
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Main Street Rural, Inc., Senior Secured, Maturity Date July 2027, Prime + 1.95%, Floor rate 9.95%, 6.85% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-07	[1],[19],[23]	2027-07	[8],[12]	2027-07	[1],[19],[23]	2027-07	[8],[12]
Basis spread variable rate		1.95%	[1],[19],[21],[23]	1.95%	[5],[8],[12]	1.95%	[1],[19],[21],[23]	1.95%	[5],[8],[12]
Interest rate floor		9.95%	[1],[19],[21],[23]	9.95%	[5],[8],[12]	9.95%	[1],[19],[21],[23]	9.95%	[5],[8],[12]
Exit fee rate		6.85%	[1],[19],[21],[23]	6.85%	[5],[8],[12]	6.85%	[1],[19],[21],[23]	6.85%	[5],[8],[12]
Principal amount		$ 38,500	[1],[19],[23]	$ 24,500	[8],[12]
Investment cost		39,089	[1],[2],[19],[23]	24,476	[6],[8],[12]
Investments, at fair value:		$ 39,582	[1],[19],[23]	$ 24,929	[8],[12]
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Marathon Health, LLC, Senior Secured, Maturity Date February 2029, Prime + 3.00%, Floor rate 11.00%
Summary of Investment Holdings
Maturity Date	[23],[31]	2029-02				2029-02
Basis spread variable rate	[21],[23],[31]	3%				3%
Interest rate floor	[21],[23],[31]	11%				11%
Principal amount	[23],[31]	$ 5,000
Investment cost	[2],[23],[31]	5,000
Investments, at fair value:	[23],[31]	$ 5,000
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Marathon Health, LLC, Senior Secured, Maturity Date February 2029, Prime - 0.90%, Floor rate 7.10%, PIK Interest 4.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[24],[31]	2029-02				2029-02
Basis spread variable rate	[21],[23],[24],[31]	(0.90%)				(0.90%)
Interest rate floor	[21],[23],[24],[31]	7.10%				7.10%
Interest rate paid in kind	[21],[23],[24],[31]	4%				4%
Exit fee rate	[21],[23],[24],[31]	3%				3%
Principal amount	[23],[24],[31]	$ 159,176
Investment cost	[2],[23],[24],[31]	158,410
Investments, at fair value:	[23],[24],[31]	$ 161,882
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Modern Life Inc., Senior Secured, Maturity Date February 2027, Prime + 2.75%, Floor rate 8.75%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[8],[13]			2027-02				2027-02
Basis spread variable rate	[5],[8],[13]			2.75%				2.75%
Interest rate floor	[5],[8],[13]			8.75%				8.75%
Exit fee rate	[5],[8],[13]			5%				5%
Principal amount	[8],[13]			$ 13,000
Investment cost	[6],[8],[13]			12,888
Investments, at fair value:	[8],[13]			$ 13,111
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Modern Life, Inc., Senior Secured, Maturity Date February 2027, Prime + 2.75%, Floor rate 8.75%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[19]	2027-02				2027-02
Basis spread variable rate	[19],[21]	2.75%				2.75%
Interest rate floor	[19],[21]	8.75%				8.75%
Exit fee rate	[19],[21]	5%				5%
Principal amount	[19]	$ 18,200
Investment cost	[2],[19]	18,299
Investments, at fair value:	[19]	$ 18,340
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and NeueHealth, Inc., Maturity Date June 2028, Prime + 1.15%, Floor rate 9.65%, PIK Interest 2.50%, 2.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24]	2028-06				2028-06
Basis spread variable rate	[20],[21],[24]	1.15%				1.15%
Interest rate floor	[20],[21],[24]	9.65%				9.65%
Interest rate paid in kind	[20],[21],[24]	2.50%				2.50%
Exit fee rate	[20],[21],[24]	2.50%				2.50%
Principal amount	[20],[24]	$ 25,031
Investment cost	[2],[20],[24]	24,236
Investments, at fair value:	[20],[24]	$ 24,587
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Recover Together, Inc., Senior Secured, Maturity Date July 2027, Prime + 1.90%, Floor rate 10.15%, 7.50% Exit Fee
Summary of Investment Holdings
Maturity Date		2027-07	[19]	2027-07		2027-07	[19]	2027-07
Basis spread variable rate		1.90%	[19],[21]	1.90%	[5]	1.90%	[19],[21]	1.90%	[5]
Interest rate floor		10.15%	[19],[21]	10.15%	[5]	10.15%	[19],[21]	10.15%	[5]
Exit fee rate		7.50%	[19],[21]	7.50%	[5]	7.50%	[19],[21]	7.50%	[5]
Principal amount		$ 45,000	[19]	$ 35,000
Investment cost		45,431	[2],[19]	34,683	[6]
Investments, at fair value:		$ 45,741	[19]	$ 34,683
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Strive Health Holdings Inc., Senior Secured, Maturity Date September 2027, Prime + 0.70%, Floor rate 9.20%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[12]			2027-09				2027-09
Basis spread variable rate	[5],[12]			0.70%				0.70%
Interest rate floor	[5],[12]			9.20%				9.20%
Exit fee rate	[5],[12]			5.95%				5.95%
Principal amount	[12]			$ 12,000
Investment cost	[6],[12]			11,868
Investments, at fair value:	[12]			$ 11,868
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Strive Health Holdings, LLC, Senior Secured, Maturity Date September 2027, Prime + 0.70%, Floor rate 9.20%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23]	2027-09				2027-09
Basis spread variable rate	[1],[21],[23]	0.70%				0.70%
Interest rate floor	[1],[21],[23]	9.20%				9.20%
Exit fee rate	[1],[21],[23]	5.95%				5.95%
Principal amount	[1],[23]	$ 30,000
Investment cost	[1],[2],[23]	29,742
Investments, at fair value:	[1],[23]	30,587
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Total Carbon Health Technologies, Inc.
Summary of Investment Holdings
Principal amount		41,675
Investment cost	[2]	43,550
Investments, at fair value:		41,812
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Total Marathon Health, LLC.
Summary of Investment Holdings
Principal amount		164,176
Investment cost	[2]	163,410
Investments, at fair value:		$ 166,882
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and Vida Health, Inc., Senior Secured, Maturity Date October 2026, Prime - 2.75%, Floor rate 5.75%, PIK Interest 5.35%,4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[32]	2026-10				2026-10
Basis spread variable rate	[21],[24],[32]	(2.75%)				(2.75%)
Interest rate floor	[21],[24],[32]	5.75%				5.75%
Interest rate paid in kind	[21],[24],[32]	5.35%				5.35%
Exit fee rate	[21],[24],[32]	4.95%				4.95%
Principal amount	[24],[32]	$ 36,761
Investment cost	[2],[24],[32]	37,367
Investments, at fair value:	[24],[32]	$ 36,772
Investment, Identifier [Axis]: Debt Investments Healthcare Services, Other and WellBe Senior Medical LLC, Senior Secured, Maturity Date May 2029, Prime + 0.75%, Floor rate 7.75%, PIK Interest 2.65%, 6.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[24]	2029-05				2029-05
Basis spread variable rate	[1],[21],[23],[24]	0.75%				0.75%
Interest rate floor	[1],[21],[23],[24]	7.75%				7.75%
Interest rate paid in kind	[1],[21],[23],[24]	2.65%				2.65%
Exit fee rate	[1],[21],[23],[24]	6.75%				6.75%
Principal amount	[1],[23],[24]	$ 28,283
Investment cost	[1],[2],[23],[24]	28,144
Investments, at fair value:	[1],[23],[24]	$ 27,551
Investment, Identifier [Axis]: Debt Investments Information Services (1.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.03%				1.03%
Investment cost	[2]	$ 19,741
Investments, at fair value:		$ 20,445
Investment, Identifier [Axis]: Debt Investments Information Services (6.65%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			6.65%				6.65%
Investment cost	[6]			$ 117,099
Investments, at fair value:				$ 119,876
Investment, Identifier [Axis]: Debt Investments Information Services and Capella Space Corp., Senior Secured, Maturity Date November 2025, Prime + 5.00%, Floor rate 8.25%, PIK Interest 1.10%, 7.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[12]			2025-11				2025-11
Basis spread variable rate	[5],[7],[12]			5%				5%
Interest rate floor	[5],[7],[12]			8.25%				8.25%
Interest rate paid in kind	[5],[7],[12]			1.10%				1.10%
Exit fee rate	[5],[7],[12]			7%				7%
Principal amount	[7],[12]			$ 20,477
Investment cost	[6],[7],[12]			21,166
Investments, at fair value:	[7],[12]			$ 21,351
Investment, Identifier [Axis]: Debt Investments Information Services and Saama Technologies, LLC, Senior Secured, Maturity Date July 2027, Prime + 0.70%, Floor rate 8.95%, PIK Interest 2.00%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[23],[24]	2027-07				2027-07
Basis spread variable rate	[20],[21],[23],[24]	0.70%				0.70%
Interest rate floor	[20],[21],[23],[24]	8.95%				8.95%
Interest rate paid in kind	[20],[21],[23],[24]	2%				2%
Exit fee rate	[20],[21],[23],[24]	2.95%				2.95%
Principal amount	[20],[23],[24]	$ 19,779
Investment cost	[2],[20],[23],[24]	19,741
Investments, at fair value:	[20],[23],[24]	$ 20,445
Investment, Identifier [Axis]: Debt Investments Manufacturing Technology (0.44%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.44%				0.44%
Investment cost	[6]			$ 8,064
Investments, at fair value:				$ 8,006
Investment, Identifier [Axis]: Debt Investments Manufacturing Technology and Bright Machines, Inc., Senior Secured, Maturity Date May 2025, Prime + 4.00%, Floor rate 9.50%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[13]			2025-05				2025-05
Basis spread variable rate	[5],[13]			4%				4%
Interest rate floor	[5],[13]			9.50%				9.50%
Exit fee rate	[5],[13]			5%				5%
Principal amount	[13]			$ 7,827
Investment cost	[6],[13]			8,064
Investments, at fair value:	[13]			$ 8,006
Investment, Identifier [Axis]: Debt Investments Media/Content/Info (0.69%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.69%				0.69%
Investment cost	[6]			$ 12,340
Investments, at fair value:				$ 12,469
Investment, Identifier [Axis]: Debt Investments Media/Content/Info and Fever Labs, Inc., Senior Secured, Maturity Date December 2025, Prime + 3.50%, Floor rate 9.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2025-12				2025-12
Basis spread variable rate	[5],[14]			3.50%				3.50%
Interest rate floor	[5],[14]			9%				9%
Exit fee rate	[5],[14]			3%				3%
Principal amount	[14]			$ 1,333
Investment cost	[6],[14]			1,342
Investments, at fair value:	[14]			$ 1,351
Investment, Identifier [Axis]: Debt Investments Media/Content/Info and Fever Labs, Inc., Senior Secured, Maturity Date June 2026, Prime + 3.50%, Floor rate 9.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2026-06				2026-06
Basis spread variable rate	[5],[14]			3.50%				3.50%
Interest rate floor	[5],[14]			9%				9%
Exit fee rate	[5],[14]			3%				3%
Principal amount	[14]			$ 1,667
Investment cost	[6],[14]			1,647
Investments, at fair value:	[14]			$ 1,653
Investment, Identifier [Axis]: Debt Investments Media/Content/Info and Fever Labs, Inc., Senior Secured, Maturity Date March 2026, Prime + 3.50%, Floor rate 9.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2026-03				2026-03
Basis spread variable rate	[5],[14]			3.50%				3.50%
Interest rate floor	[5],[14]			9%				9%
Exit fee rate	[5],[14]			3%				3%
Principal amount	[14]			$ 1,500
Investment cost	[6],[14]			1,501
Investments, at fair value:	[14]			$ 1,509
Investment, Identifier [Axis]: Debt Investments Media/Content/Info and Fever Labs, Inc., Senior Secured, Maturity Date September 2025, Prime + 3.50%, Floor rate 9.00%, 3.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2025-09				2025-09
Basis spread variable rate	[5],[14]			3.50%				3.50%
Interest rate floor	[5],[14]			9%				9%
Exit fee rate	[5],[14]			3%				3%
Principal amount	[14]			$ 1,167
Investment cost	[6],[14]			1,178
Investments, at fair value:	[14]			$ 1,188
Investment, Identifier [Axis]: Debt Investments Media/Content/Info and Fever Labs, Inc.; Senior Secured, Maturity Date September 2026, Prime + 3.50%, Floor rate 9.00%, 4.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[14]			2026-09				2026-09
Basis spread variable rate	[5],[14]			3.50%				3.50%
Interest rate floor	[5],[14]			9%				9%
Exit fee rate	[5],[14]			4%				4%
Principal amount	[14]			$ 6,667
Investment cost	[6],[14]			6,672
Investments, at fair value:	[14]			6,768
Investment, Identifier [Axis]: Debt Investments Media/Content/Info, Fever Labs, Inc.
Summary of Investment Holdings
Principal amount				12,334
Investment cost	[6]			12,340
Investments, at fair value:				$ 12,469
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment (1.20%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			1.20%				1.20%
Investment cost	[6]			$ 21,572
Investments, at fair value:				$ 21,572
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment (3.74%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	3.74%				3.74%
Investment cost	[2]	$ 73,400
Investments, at fair value:		$ 74,386
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment and Orchestra BioMed Holdings, Inc., Maturity Date November 2028, Prime + 2.00%, Floor rate 9.50%, 6.35% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[39]	2028-11				2028-11
Basis spread variable rate	[1],[21],[39]	2%				2%
Interest rate floor	[1],[21],[39]	9.50%				9.50%
Exit fee rate	[1],[21],[39]	6.35%				6.35%
Principal amount	[1],[39]	$ 15,000
Investment cost	[1],[2],[39]	14,740
Investments, at fair value:	[1],[39]	$ 14,740
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment and Senseonics Holdings, Inc. Maturity Date September 2027, Prime + 1.40%, Floor rate 9.90%, 6.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[32]	2027-09				2027-09
Basis spread variable rate	[21],[32]	1.40%				1.40%
Interest rate floor	[21],[32]	9.90%				9.90%
Exit fee rate	[21],[32]	6.95%				6.95%
Principal amount	[32]	$ 30,625
Investment cost	[2],[32]	30,830
Investments, at fair value:	[32]	$ 31,519
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment and Senseonics Holdings, Inc., Senior Secured, Maturity Date September 2027, Prime + 1.40%, Floor rate 9.90%, 6.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[8]			2027-09				2027-09
Basis spread variable rate	[5],[8]			1.40%				1.40%
Interest rate floor	[5],[8]			9.90%				9.90%
Exit fee rate	[5],[8]			6.95%				6.95%
Principal amount	[8]			$ 21,875
Investment cost	[6],[8]			21,572
Investments, at fair value:	[8]			$ 21,572
Investment, Identifier [Axis]: Debt Investments Medical Devices & Equipment and Sight Sciences, Inc., Maturity Date July 2028, Prime + 2.35%, Floor rate 10.35%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[39]	2028-07				2028-07
Basis spread variable rate	[21],[39]	2.35%				2.35%
Interest rate floor	[21],[39]	10.35%				10.35%
Exit fee rate	[21],[39]	5.95%				5.95%
Principal amount	[39]	$ 28,000
Investment cost	[2],[39]	27,830
Investments, at fair value:	[39]	$ 28,127
Investment, Identifier [Axis]: Debt Investments Software (40.39%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			40.39%				40.39%
Investment cost	[6]			$ 751,108
Investments, at fair value:				728,139
Investment, Identifier [Axis]: Debt Investments Software (52.80%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	52.80%				52.80%
Investment cost	[2]	$ 1,091,349
Investments, at fair value:		$ 1,050,563
Investment, Identifier [Axis]: Debt Investments Software and 3GTMS, LLC
Summary of Investment Holdings
Principal amount				15,100
Investment cost	[6]			15,017
Investments, at fair value:				$ 15,089
Investment, Identifier [Axis]: Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month SOFR + 10.40%, Floor rate 11.30%
Summary of Investment Holdings
Maturity Date	[23],[29],[32]	2025-02				2025-02
Basis spread variable rate	[21],[23],[29],[32]	10.40%				10.40%
Interest rate floor	[21],[23],[29],[32]	11.30%				11.30%
Principal amount	[23],[29],[32]	$ 13,279
Investment cost	[2],[23],[29],[32]	13,268
Investments, at fair value:	[23],[29],[32]	$ 13,268
Investment, Identifier [Axis]: Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month SOFR + 6.88%, Floor rate 7.78%
Summary of Investment Holdings
Maturity Date	[8],[11]			2025-02				2025-02
Basis spread variable rate	[5],[8],[11]			6.88%				6.88%
Interest rate floor	[5],[8],[11]			7.78%				7.78%
Principal amount	[8],[11]			$ 1,990
Investment cost	[6],[8],[11]			1,988
Investments, at fair value:	[8],[11]			$ 1,986
Investment, Identifier [Axis]: Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month SOFR + 7.25%, Floor rate 8.15%
Summary of Investment Holdings
Maturity Date	[23],[29]	2025-02				2025-02
Basis spread variable rate	[21],[23],[29]	7.25%				7.25%
Interest rate floor	[21],[23],[29]	8.15%				8.15%
Principal amount	[23],[29]	$ 6,194
Investment cost	[2],[23],[29]	6,185
Investments, at fair value:	[23],[29]	$ 6,185
Investment, Identifier [Axis]: Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.70%, Floor rate 10.60%
Summary of Investment Holdings
Maturity Date	[4],[8],[11]			2025-02				2025-02
Basis spread variable rate	[4],[5],[8],[11]			9.70%				9.70%
Interest rate floor	[4],[5],[8],[11]			10.60%				10.60%
Principal amount	[4],[8],[11]			$ 13,110
Investment cost	[4],[6],[8],[11]			13,029
Investments, at fair value:	[4],[8],[11]			$ 13,103
Investment, Identifier [Axis]: Debt Investments Software and Agilence, Inc., Senior Secured, Maturity Date October 2026, 1-month BSBY + 9.00%, Floor rate 10.00%
Summary of Investment Holdings
Maturity Date	[8],[11],[16]			2026-10				2026-10
Basis spread variable rate	[5],[8],[11],[16]			9%				9%
Interest rate floor	[5],[8],[11],[16]			10%				10%
Principal amount	[8],[11],[16]			$ 9,212
Investment cost	[6],[8],[11],[16]			9,040
Investments, at fair value:	[8],[11],[16]			$ 9,212
Investment, Identifier [Axis]: Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 1-month SOFR + 8.14%, Floor rate 9.14%
Summary of Investment Holdings
Maturity Date	[8],[11],[13]			2028-05				2028-05
Basis spread variable rate	[5],[8],[11],[13]			8.14%				8.14%
Interest rate floor	[5],[8],[11],[13]			9.14%				9.14%
Principal amount	[8],[11],[13]			$ 20,908
Investment cost	[6],[8],[11],[13]			20,508
Investments, at fair value:	[8],[11],[13]			$ 21,297
Investment, Identifier [Axis]: Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 3-month SOFR + 8.14%, Floor rate 9.14%
Summary of Investment Holdings
Maturity Date	[19],[29]	2028-05				2028-05
Basis spread variable rate	[19],[21],[29]	8.14%				8.14%
Interest rate floor	[19],[21],[29]	9.14%				9.14%
Principal amount	[19],[29]	$ 21,251
Investment cost	[2],[19],[29]	20,923
Investments, at fair value:	[19],[29]	$ 21,251
Investment, Identifier [Axis]: Debt Investments Software and Allvue Systems, LLC, Senior Secured, Maturity Date September 2029, 3-month SOFR + 6.25%, Floor rate 7.25%
Summary of Investment Holdings
Maturity Date	[23]	2029-09				2029-09
Basis spread variable rate	[21],[23]	6.25%				6.25%
Interest rate floor	[21],[23]	7.25%				7.25%
Principal amount	[23]	$ 42,564
Investment cost	[2],[23]	41,704
Investments, at fair value:	[23]	$ 41,628
Investment, Identifier [Axis]: Debt Investments Software and Allvue Systems, LLC, Senior Secured, Maturity Date September 2029, 6-month SOFR + 7.25%, Floor rate 8.25%
Summary of Investment Holdings
Maturity Date	[8]			2029-09				2029-09
Basis spread variable rate	[5],[8]			7.25%				7.25%
Interest rate floor	[5],[8]			8.25%				8.25%
Principal amount	[8]			$ 36,410
Investment cost	[6],[8]			35,530
Investments, at fair value:	[8]			$ 35,530
Investment, Identifier [Axis]: Debt Investments Software and AlphaSense, Inc., Senior Secured, Maturity Date June 2029, 3-month SOFR + 6.25%, Floor rate 8.25%
Summary of Investment Holdings
Maturity Date	[23]	2029-06				2029-06
Basis spread variable rate	[21],[23]	6.25%				6.25%
Interest rate floor	[21],[23]	8.25%				8.25%
Principal amount	[23]	$ 20,000
Investment cost	[2],[23]	19,816
Investments, at fair value:	[23]	$ 19,578
Investment, Identifier [Axis]: Debt Investments Software and Annex Cloud, Senior Secured, Maturity Date February 2027, 1-month BSBY +9.41%, Floor rate 10.41%
Summary of Investment Holdings
Maturity Date	[8],[13]			2027-02				2027-02
Basis spread variable rate	[5],[8],[13]			9.41%				9.41%
Interest rate floor	[5],[8],[13]			10.41%				10.41%
Principal amount	[8],[13]			$ 9,823
Investment cost	[6],[8],[13]			9,649
Investments, at fair value:	[8],[13]			$ 9,761
Investment, Identifier [Axis]: Debt Investments Software and Annex Cloud, Senior Secured, Maturity Date February 2027, 3-month SOFR + 10.00%, Floor rate 11.00%
Summary of Investment Holdings
Maturity Date	[19],[29]	2027-02				2027-02
Basis spread variable rate	[19],[21],[29]	10%				10%
Interest rate floor	[19],[21],[29]	11%				11%
Principal amount	[19],[29]	$ 11,338
Investment cost	[2],[19],[29]	11,205
Investments, at fair value:	[19],[29]	$ 10,556
Investment, Identifier [Axis]: Debt Investments Software and Armis, Inc., Senior Secured, Maturity Date March 2028, Prime + 0.00%, Floor rate 7.50%, PIK Interest 2.00%, 2.25% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[23],[24]	2028-03				2028-03
Basis spread variable rate	[20],[21],[23],[24]	0%				0%
Interest rate floor	[20],[21],[23],[24]	7.50%				7.50%
Interest rate paid in kind	[20],[21],[23],[24]	2%				2%
Exit fee rate	[20],[21],[23],[24]	2.25%				2.25%
Principal amount	[20],[23],[24]	$ 50,733
Investment cost	[2],[20],[23],[24]	50,496
Investments, at fair value:	[20],[23],[24]	$ 51,357
Investment, Identifier [Axis]: Debt Investments Software and Armis, Inc., Senior Secured, Maturity Date March 2028, Prime +1.25%, Floor rate 7.50%, PIK Interest 2.00%, 2.25% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[24]	2028-03				2028-03
Basis spread variable rate	[21],[23],[24]	1.25%				1.25%
Interest rate floor	[21],[23],[24]	7.50%				7.50%
Interest rate paid in kind	[21],[23],[24]	2%				2%
Exit fee rate	[21],[23],[24]	2.25%				2.25%
Principal amount	[23],[24]	$ 25,150
Investment cost	[2],[23],[24]	24,968
Investments, at fair value:	[23],[24]	$ 25,082
Investment, Identifier [Axis]: Debt Investments Software and Automation Anywhere, Inc. Senior Secured, Maturity Date September 2027, Prime +4.25%, Floor rate 9.00%,4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[4],[8],[14]			2027-09				2027-09
Basis spread variable rate	[4],[5],[8],[14]			4.25%				4.25%
Interest rate floor	[4],[5],[8],[14]			9%				9%
Exit fee rate	[4],[5],[8],[14]			4.50%				4.50%
Principal amount	[4],[8],[14]			$ 19,600
Investment cost	[4],[6],[8],[14]			19,345
Investments, at fair value:	[4],[8],[14]			$ 20,269
Investment, Identifier [Axis]: Debt Investments Software and Babel Street, Senior Secured, Maturity Date December 2027, 3-month SOFR + 8.01%, Floor rate 9.01%
Summary of Investment Holdings
Maturity Date	[1],[23],[29]	2027-12				2027-12
Basis spread variable rate	[1],[21],[23],[29]	8.01%				8.01%
Interest rate floor	[1],[21],[23],[29]	9.01%				9.01%
Principal amount	[1],[23],[29]	$ 65,336
Investment cost	[1],[2],[23],[29]	64,061
Investments, at fair value:	[1],[23],[29]	$ 65,263
Investment, Identifier [Axis]: Debt Investments Software and Behavox Limited, Senior Secured, Maturity Date September 2027, Prime - 0.55%, Floor rate 7.45%, PIK Interest 3.00%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26]	2027-09				2027-09
Basis spread variable rate	[21],[24],[25],[26]	(0.55%)				(0.55%)
Interest rate floor	[21],[24],[25],[26]	7.45%				7.45%
Interest rate paid in kind	[21],[24],[25],[26]	3%				3%
Exit fee rate	[21],[24],[25],[26]	4.95%				4.95%
Principal amount	[24],[25],[26]	$ 10,550
Investment cost	[2],[24],[25],[26]	10,534
Investments, at fair value:	[24],[25],[26]	$ 10,360
Investment, Identifier [Axis]: Debt Investments Software and Brain Corporation, Senior Secured, Maturity Date September 2028, Prime + 1.35%, Floor rate 9.85%, PIK Interest 2.50%, 3.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[24]	2028-09				2028-09
Basis spread variable rate	[19],[21],[24]	1.35%				1.35%
Interest rate floor	[19],[21],[24]	9.85%				9.85%
Interest rate paid in kind	[19],[21],[24]	2.50%				2.50%
Exit fee rate	[19],[21],[24]	3.95%				3.95%
Principal amount	[19],[24]	$ 32,009
Investment cost	[2],[19],[24]	31,704
Investments, at fair value:	[19],[24]	$ 31,984
Investment, Identifier [Axis]: Debt Investments Software and Ceros, Inc., Senior Secured, Maturity Date September 2026, 3-month SOFR + 8.99%, Floor rate 9.89%
Summary of Investment Holdings
Maturity Date	[23],[29]	2026-09				2026-09
Basis spread variable rate	[21],[23],[29]	8.99%				8.99%
Interest rate floor	[21],[23],[29]	9.89%				9.89%
Principal amount	[23],[29]	$ 22,762
Investment cost	[2],[23],[29]	22,515
Investments, at fair value:	[23],[29]	$ 22,183
Investment, Identifier [Axis]: Debt Investments Software and Copper CRM, Inc, Senior Secured, Maturity Date March 2025, Prime + 4.50%, Floor rate 8.25%, Cap rate 10.25%, PIK Interest 1.95%, 4.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[32]	2025-03				2025-03
Basis spread variable rate	[21],[24],[32]	4.50%				4.50%
Interest rate floor	[21],[24],[32]	8.25%				8.25%
Interest rate cap	[21],[24],[32]	10.25%				10.25%
Interest rate paid in kind	[21],[24],[32]	1.95%				1.95%
Exit fee rate	[21],[24],[32]	4.50%				4.50%
Principal amount	[24],[32]	$ 8,515
Investment cost	[2],[24],[32]	8,839
Investments, at fair value:	[24],[32]	$ 8,839
Investment, Identifier [Axis]: Debt Investments Software and CoreView USA, Inc., Senior Secured, Maturity Date January 2029, Prime +2.75%, Floor rate 9.25%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[39]	2029-01				2029-01
Basis spread variable rate	[21],[23],[39]	2.75%				2.75%
Interest rate floor	[21],[23],[39]	9.25%				9.25%
Exit fee rate	[21],[23],[39]	4.95%				4.95%
Principal amount	[23],[39]	$ 25,000
Investment cost	[2],[23],[39]	24,731
Investments, at fair value:	[23],[39]	$ 24,731
Investment, Identifier [Axis]: Debt Investments Software and Coronet Cyber Security Ltd., Senior Secured, Maturity Date October 2028, Prime - 2.95%, Floor rate 3.55%, PIK Interest 5.85%
Summary of Investment Holdings
Maturity Date	[23],[24]	2028-10				2028-10
Basis spread variable rate	[21],[23],[24]	(2.95%)				(2.95%)
Interest rate floor	[21],[23],[24]	3.55%				3.55%
Interest rate paid in kind	[21],[23],[24]	5.85%				5.85%
Principal amount	[23],[24]	$ 8,591
Investment cost	[2],[23],[24]	8,446
Investments, at fair value:	[23],[24]	$ 8,446
Investment, Identifier [Axis]: Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[8],[9],[10],[16]			2025-10				2025-10
Basis spread variable rate	[5],[8],[9],[10],[16]			5.20%				5.20%
Interest rate floor	[5],[8],[9],[10],[16]			9.95%				9.95%
Exit fee rate	[5],[8],[9],[10],[16]			4.95%				4.95%
Principal amount	[8],[9],[10],[16]			$ 5,500
Investment cost	[6],[8],[9],[10],[16]			5,544
Investments, at fair value:	[8],[9],[10],[16]			$ 5,715
Investment, Identifier [Axis]: Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee, 1
Summary of Investment Holdings
Maturity Date	[20],[25],[26]	2025-10				2025-10
Basis spread variable rate	[20],[21],[25],[26]	5.20%				5.20%
Interest rate floor	[20],[21],[25],[26]	9.95%				9.95%
Exit fee rate	[20],[21],[25],[26]	4.95%				4.95%
Principal amount	[20],[25],[26]	$ 5,500
Investment cost	[2],[20],[25],[26]	5,667
Investments, at fair value:	[20],[25],[26]	$ 5,667
Investment, Identifier [Axis]: Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee, 2
Summary of Investment Holdings
Maturity Date	[25],[26]	2025-10				2025-10
Basis spread variable rate	[21],[25],[26]	5.20%				5.20%
Interest rate floor	[21],[25],[26]	9.95%				9.95%
Exit fee rate	[21],[25],[26]	4.95%				4.95%
Principal amount | £	[25],[26]					£ 1,250
Investment cost	[2],[25],[26]	$ 1,612
Investments, at fair value:	[25],[26]	$ 1,594
Investment, Identifier [Axis]: Debt Investments Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, Maturity Date August 2026, 6-month SOFR + 8.63%, Floor rate 9.38%
Summary of Investment Holdings
Maturity Date	[8],[13]			2026-08				2026-08
Basis spread variable rate	[5],[8],[13]			8.63%				8.63%
Interest rate floor	[5],[8],[13]			9.38%				9.38%
Principal amount	[8],[13]			$ 7,955
Investment cost	[6],[8],[13]			7,830
Investments, at fair value:	[8],[13]			$ 7,778
Investment, Identifier [Axis]: Debt Investments Software and Dashlane, Inc., Senior Secured, Maturity Date December 2027, Prime + 3.05%, Floor rate 11.55%, PIK Interest 1.10%, 6.28% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[22],[23],[24],[32]	2027-12				2027-12
Basis spread variable rate	[19],[21],[22],[23],[24],[32]	3.05%				3.05%
Interest rate floor	[19],[21],[22],[23],[24],[32]	11.55%				11.55%
Interest rate paid in kind	[19],[21],[22],[23],[24],[32]	1.10%				1.10%
Exit fee rate	[19],[21],[22],[23],[24],[32]	6.28%				6.28%
Principal amount	[19],[22],[23],[24],[32]	$ 45,476
Investment cost	[2],[19],[22],[23],[24],[32]	46,450
Investments, at fair value:	[19],[22],[23],[24],[32]	$ 47,708
Investment, Identifier [Axis]: Debt Investments Software and Dispatch Technologies, Inc., Senior Secured, Maturity Date April 2028, 3-month SOFR + 8.01%, Floor rate 8.76%
Summary of Investment Holdings
Maturity Date		2028-04	[23],[29]	2028-04	[8],[11]	2028-04	[23],[29]	2028-04	[8],[11]
Basis spread variable rate		8.01%	[21],[23],[29]	8.01%	[5],[8],[11]	8.01%	[21],[23],[29]	8.01%	[5],[8],[11]
Interest rate floor		8.76%	[21],[23],[29]	8.76%	[5],[8],[11]	8.76%	[21],[23],[29]	8.76%	[5],[8],[11]
Principal amount		$ 8,896	[23],[29]	$ 8,125	[8],[11]
Investment cost		8,758	[2],[23],[29]	7,949	[6],[8],[11]
Investments, at fair value:		$ 8,641	[23],[29]	$ 8,127	[8],[11]
Investment, Identifier [Axis]: Debt Investments Software and Dragos, Inc., Senior Secured, Maturity Date July 2027, Prime + 2.00%, Floor rate 8.75%, PIK Interest 2.00%, 2.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[23],[24]	2027-07				2027-07
Basis spread variable rate	[21],[23],[24]	2%				2%
Interest rate floor	[21],[23],[24]	8.75%				8.75%
Interest rate paid in kind	[21],[23],[24]	2%				2%
Exit fee rate	[21],[23],[24]	2%				2%
Principal amount	[23],[24]	$ 13,022
Investment cost	[2],[23],[24]	12,383
Investments, at fair value:	[23],[24]	$ 12,431
Investment, Identifier [Axis]: Debt Investments Software and DroneDeploy, Inc., Senior Secured, Maturity Date November 2028, Prime + 2.45%, Floor rate 9.95%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[23]	2028-11				2028-11
Basis spread variable rate	[19],[21],[23]	2.45%				2.45%
Interest rate floor	[19],[21],[23]	9.95%				9.95%
Exit fee rate	[19],[21],[23]	5%				5%
Principal amount	[19],[23]	$ 9,375
Investment cost	[2],[19],[23]	9,255
Investments, at fair value:	[19],[23]	$ 9,274
Investment, Identifier [Axis]: Debt Investments Software and Earnix, Inc., Senior Secured, Maturity Date June 2029, Prime - 1.15%, Floor rate 5.35%, PIK Interest 4.45%
Summary of Investment Holdings
Maturity Date	[23],[24],[32]	2029-06				2029-06
Basis spread variable rate	[21],[23],[24],[32]	(1.15%)				(1.15%)
Interest rate floor	[21],[23],[24],[32]	5.35%				5.35%
Interest rate paid in kind	[21],[23],[24],[32]	4.45%				4.45%
Principal amount	[23],[24],[32]	$ 19,166
Investment cost	[2],[23],[24],[32]	18,856
Investments, at fair value:	[23],[24],[32]	$ 18,838
Investment, Identifier [Axis]: Debt Investments Software and Eigen Technologies Ltd., Senior Secured, Maturity Date April 2025, Prime + 5.10%, Floor rate 8.35%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[9],[10]			2025-04				2025-04
Basis spread variable rate	[5],[9],[10]			5.10%				5.10%
Interest rate floor	[5],[9],[10]			8.35%				8.35%
Exit fee rate	[5],[9],[10]			2.95%				2.95%
Principal amount	[9],[10]			$ 3,750
Investment cost	[6],[9],[10]			3,801
Investments, at fair value:	[9],[10]			$ 3,730
Investment, Identifier [Axis]: Debt Investments Software and Elation Health, Inc., Senior Secured, Maturity Date March 2026, Prime + 4.25%, Floor rate 9.00%, PIK Interest 1.95%, 3.95% Exit Fee
Summary of Investment Holdings
Maturity Date		2026-03	[22],[24],[32]	2026-03	[7],[8],[14]	2026-03	[22],[24],[32]	2026-03	[7],[8],[14]
Basis spread variable rate		4.25%	[21],[22],[24],[32]	4.25%	[5],[7],[8],[14]	4.25%	[21],[22],[24],[32]	4.25%	[5],[7],[8],[14]
Interest rate floor		9%	[21],[22],[24],[32]	9%	[5],[7],[8],[14]	9%	[21],[22],[24],[32]	9%	[5],[7],[8],[14]
Interest rate paid in kind		1.95%	[21],[22],[24],[32]	1.95%	[5],[7],[8],[14]	1.95%	[21],[22],[24],[32]	1.95%	[5],[7],[8],[14]
Exit fee rate		3.95%	[21],[22],[24],[32]	3.95%	[5],[7],[8],[14]	3.95%	[21],[22],[24],[32]	3.95%	[5],[7],[8],[14]
Principal amount		$ 12,878	[22],[24],[32]	$ 12,629	[7],[8],[14]
Investment cost		12,860	[2],[22],[24],[32]	12,253	[6],[7],[8],[14]
Investments, at fair value:		$ 13,215	[22],[24],[32]	$ 12,692	[7],[8],[14]
Investment, Identifier [Axis]: Debt Investments Software and Flight Schedule Pro, LLC, Senior Secured, Maturity Date October 2027, 1-month SOFR + 7.80%, Floor rate 8.70%
Summary of Investment Holdings
Maturity Date	[23],[29]	2027-10				2027-10
Basis spread variable rate	[21],[23],[29]	7.80%				7.80%
Interest rate floor	[21],[23],[29]	8.70%				8.70%
Principal amount	[23],[29]	$ 7,297
Investment cost	[2],[23],[29]	7,145
Investments, at fair value:	[23],[29]	$ 7,271
Investment, Identifier [Axis]: Debt Investments Software and Fortified Health Security, Senior Secured, Maturity Date December 2027, 1-month SOFR + 7.64%, Floor rate 8.54%
Summary of Investment Holdings
Maturity Date	[23],[29],[32]	2027-12				2027-12
Basis spread variable rate	[21],[23],[29],[32]	7.64%				7.64%
Interest rate floor	[21],[23],[29],[32]	8.54%				8.54%
Principal amount	[23],[29],[32]	$ 7,000
Investment cost	[2],[23],[29],[32]	6,882
Investments, at fair value:	[23],[29],[32]	$ 6,950
Investment, Identifier [Axis]: Debt Investments Software and Harness, Inc., Senior Secured, Maturity Date March 2029, Prime - 2.25%, Floor rate 5.25%, Cap rate 6.50%, PIK Interest 6.25%, 1.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[22],[23],[24]	2029-03				2029-03
Basis spread variable rate	[21],[22],[23],[24]	(2.25%)				(2.25%)
Interest rate floor	[21],[22],[23],[24]	5.25%				5.25%
Interest rate cap	[21],[22],[23],[24]	6.50%				6.50%
Interest rate paid in kind	[21],[22],[23],[24]	6.25%				6.25%
Exit fee rate	[21],[22],[23],[24]	1%				1%
Principal amount	[22],[23],[24]	$ 18,132
Investment cost	[2],[22],[23],[24]	17,947
Investments, at fair value:	[22],[23],[24]	$ 18,060
Investment, Identifier [Axis]: Debt Investments Software and Khoros, Senior Secured, Maturity Date January 2025, 3-month SOFR + 4.50%, Floor rate 5.50%, PIK Interest 4.50%
Summary of Investment Holdings
Maturity Date	[24],[42]	2025-01				2025-01
Basis spread variable rate	[21],[24],[42]	4.50%				4.50%
Interest rate floor	[21],[24],[42]	5.50%				5.50%
Interest rate paid in kind	[21],[24],[42]	4.50%				4.50%
Principal amount	[24],[42]	$ 61,341
Investment cost	[2],[24],[42]	61,317
Investments, at fair value:	[24],[42]	$ 18,231
Investment, Identifier [Axis]: Debt Investments Software and Leapwork ApS, Senior Secured, Maturity Date February 2026, Prime + 0.25%, Floor rate 7.00%, PIK Interest 1.95%, 2.70% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24],[25],[26]	2026-02				2026-02
Basis spread variable rate	[20],[21],[24],[25],[26]	0.25%				0.25%
Interest rate floor	[20],[21],[24],[25],[26]	7%				7%
Interest rate paid in kind	[20],[21],[24],[25],[26]	1.95%				1.95%
Exit fee rate	[20],[21],[24],[25],[26]	2.70%				2.70%
Principal amount	[20],[24],[25],[26]	$ 8,890
Investment cost	[2],[20],[24],[25],[26]	8,883
Investments, at fair value:	[20],[24],[25],[26]	$ 9,117
Investment, Identifier [Axis]: Debt Investments Software and LinenMaster, LLC, Senior Secured, Maturity Date August 2028, 1-month SOFR + 6.25%, Floor rate 7.25%, PIK Interest 2.15%
Summary of Investment Holdings
Maturity Date	[20],[23],[24]	2028-08				2028-08
Basis spread variable rate	[20],[21],[23],[24]	6.25%				6.25%
Interest rate floor	[20],[21],[23],[24]	7.25%				7.25%
Interest rate paid in kind	[20],[21],[23],[24]	2.15%				2.15%
Principal amount	[20],[23],[24]	$ 15,428
Investment cost	[2],[20],[23],[24]	15,189
Investments, at fair value:	[20],[23],[24]	$ 15,481
Investment, Identifier [Axis]: Debt Investments Software and Loftware, Inc., Senior Secured, Maturity Date March 2028, 3-month SOFR + 7.88%, Floor rate 8.88%
Summary of Investment Holdings
Maturity Date	[23],[29]	2028-03				2028-03
Basis spread variable rate	[21],[23],[29]	7.88%				7.88%
Interest rate floor	[21],[23],[29]	8.88%				8.88%
Principal amount	[23],[29]	$ 27,206
Investment cost	[2],[23],[29]	26,726
Investments, at fair value:	[23],[29]	$ 27,399
Investment, Identifier [Axis]: Debt Investments Software and LogRhythm, Inc., Senior Secured, Maturity Date July 2029, 1-month SOFR + 7.50%, Floor rate 8.50%
Summary of Investment Holdings
Maturity Date	[23]	2029-07				2029-07
Basis spread variable rate	[21],[23]	7.50%				7.50%
Interest rate floor	[21],[23]	8.50%				8.50%
Principal amount	[23]	$ 25,000
Investment cost	[2],[23]	24,305
Investments, at fair value:	[23]	$ 24,305
Investment, Identifier [Axis]: Debt Investments Software and LogicSource, Senior Secured, Maturity Date July 2027, 1-month SOFR + 8.93%, Floor rate 9.93%
Summary of Investment Holdings
Maturity Date	[23],[29]	2027-07				2027-07
Basis spread variable rate	[21],[23],[29]	8.93%				8.93%
Interest rate floor	[21],[23],[29]	9.93%				9.93%
Principal amount	[23],[29]	$ 13,145
Investment cost	[2],[23],[29]	12,974
Investments, at fair value:	[23],[29]	$ 13,145
Investment, Identifier [Axis]: Debt Investments Software and Marigold Group, Inc. (p.k.a. Campaign Monitor Limited), Senior Secured, Maturity Date November 2026, PIK Interest 6-month SOFR + 10.55%, Floor rate 11.55%
Summary of Investment Holdings
Maturity Date	[19],[22],[24]	2026-11				2026-11
Basis spread variable rate	[19],[21],[22],[24]	10.55%				10.55%
Interest rate floor	[19],[21],[22],[24]	11.55%				11.55%
Principal amount	[19],[22],[24]	$ 38,828
Investment cost	[2],[19],[22],[24]	38,336
Investments, at fair value:	[19],[22],[24]	$ 32,773
Investment, Identifier [Axis]: Debt Investments Software and Mobile Solutions Services, Senior Secured, Maturity Date December 2025, 3-month SOFR + 9.21%, Floor rate 10.06%
Summary of Investment Holdings
Maturity Date	[29]	2025-12				2025-12
Basis spread variable rate	[21],[29]	9.21%				9.21%
Interest rate floor	[21],[29]	10.06%				10.06%
Principal amount	[29]	$ 18,366
Investment cost	[2],[29]	18,237
Investments, at fair value:	[29]	$ 17,616
Investment, Identifier [Axis]: Debt Investments Software and Morphisec Information Security 2014 Ltd., Senior Secured, Maturity Date October 2027, Prime + 3.45%, Floor rate 11.70%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[25],[26]	2027-10				2027-10
Basis spread variable rate	[21],[25],[26]	3.45%				3.45%
Interest rate floor	[21],[25],[26]	11.70%				11.70%
Exit fee rate	[21],[25],[26]	5.95%				5.95%
Principal amount	[25],[26]	$ 10,000
Investment cost	[2],[25],[26]	9,861
Investments, at fair value:	[25],[26]	$ 9,861
Investment, Identifier [Axis]: Debt Investments Software and New Relic, Inc., Senior Secured, Maturity Date November 2030, 1-month SOFR + 6.75%, Floor rate 7.75%
Summary of Investment Holdings
Maturity Date	[23]	2030-11				2030-11
Basis spread variable rate	[21]	6.75%				6.75%
Interest rate floor	[21],[23]	7.75%				7.75%
Principal amount	[23]	$ 21,890
Investment cost	[2],[23]	21,402
Investments, at fair value:	[23]	$ 21,644
Investment, Identifier [Axis]: Debt Investments Software and Omeda Holdings, LLC, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.05%, Floor rate 9.05%
Summary of Investment Holdings
Maturity Date	[23],[29],[32]	2027-07				2027-07
Basis spread variable rate	[21],[23],[29],[32]	8.05%				8.05%
Interest rate floor	[21],[23],[29],[32]	9.05%				9.05%
Principal amount	[23],[29],[32]	$ 7,669
Investment cost	[2],[23],[29],[32]	7,518
Investments, at fair value:	[23],[29],[32]	$ 7,669
Investment, Identifier [Axis]: Debt Investments Software and PayIt, LLC, Senior Secured, Maturity Date December 2028, Prime + 1.45%, Floor rate 7.95%, PIK Interest 1.50%, 5.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[22],[23],[24],[39]	2028-12				2028-12
Basis spread variable rate	[1],[21],[22],[23],[24],[39]	1.45%				1.45%
Interest rate floor	[1],[21],[22],[23],[24],[39]	7.95%				7.95%
Interest rate paid in kind	[1],[21],[22],[23],[24],[39]	1.50%				1.50%
Exit fee rate	[1],[21],[22],[23],[24],[39]	5%				5%
Principal amount	[1],[22],[23],[24],[39]	$ 12,003
Investment cost	[1],[2],[22],[23],[24],[39]	11,881
Investments, at fair value:	[1],[22],[23],[24],[39]	$ 11,881
Investment, Identifier [Axis]: Debt Investments Software and Pindrop Security, Inc., Senior Secured, Maturity Date June 2029, Prime + 3.50%, Floor rate 10.00%, 2.00% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23]	2029-06				2029-06
Basis spread variable rate	[1],[21],[23]	3.50%				3.50%
Interest rate floor	[1],[21],[23]	10%				10%
Exit fee rate	[1],[21],[23]	2%				2%
Principal amount	[1],[23]	$ 31,000
Investment cost	[1],[2],[23]	30,566
Investments, at fair value:	[1],[23]	$ 30,671
Investment, Identifier [Axis]: Debt Investments Software and Remodel Health Holdco, LLC, Senior Secured, Maturity Date December 2028, Prime + 2.35%, Floor rate 10.35%, 6.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[39]	2028-12				2028-12
Basis spread variable rate	[1],[21],[39]	2.35%				2.35%
Interest rate floor	[1],[21],[39]	10.35%				10.35%
Exit fee rate	[1],[21],[39]	6.50%				6.50%
Principal amount	[1],[39]	$ 25,000
Investment cost	[1],[2],[39]	24,723
Investments, at fair value:	[1],[39]	$ 24,723
Investment, Identifier [Axis]: Debt Investments Software and Reveleer, Senior Secured, Maturity Date February 2027, Prime + 0.65%, Floor rate 9.15%, PIK Interest 2.00%, 5.05% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[24]	2027-02				2027-02
Basis spread variable rate	[1],[21],[24]	0.65%				0.65%
Interest rate floor	[1],[21],[24]	9.15%				9.15%
Interest rate paid in kind	[1],[21],[24]	2%				2%
Exit fee rate	[1],[21],[24]	5.05%				5.05%
Principal amount	[1],[24]	$ 36,345
Investment cost	[1],[2],[24]	36,403
Investments, at fair value:	[1],[24]	$ 36,525
Investment, Identifier [Axis]: Debt Investments Software and Salary.com, LLC, Senior Secured, Maturity Date September 2027, 3-month SOFR + 8.00%, Floor rate 9.00%
Summary of Investment Holdings
Maturity Date	[11]			2027-09				2027-09
Basis spread variable rate	[5],[11]			8%				8%
Interest rate floor	[5],[11]			9%				9%
Principal amount	[11]			$ 22,185
Investment cost	[6],[11]			21,814
Investments, at fair value:	[11]			$ 22,048
Investment, Identifier [Axis]: Debt Investments Software and Semperis Technologies Inc., Senior Secured, Maturity Date April 2028, Prime - 1.75%, Floor rate 6.75%, PIK Interest 3.25%
Summary of Investment Holdings
Maturity Date	[22],[24],[32]	2028-04				2028-04
Basis spread variable rate	[21],[22],[24],[32]	(1.75%)				(1.75%)
Interest rate floor	[21],[22],[24],[32]	6.75%				6.75%
Interest rate paid in kind	[21],[22],[24],[32]	3.25%				3.25%
Principal amount	[22],[24],[32]	$ 22,754
Investment cost	[2],[22],[24],[32]	22,596
Investments, at fair value:	[22],[24],[32]	$ 23,066
Investment, Identifier [Axis]: Debt Investments Software and ShadowDragon, LLC, Senior Secured, Maturity Date December 2026, 3-month SOFR + 8.88%, Floor rate 9.78%
Summary of Investment Holdings
Maturity Date	[23],[29]	2026-12				2026-12
Basis spread variable rate	[21],[23],[29]	8.88%				8.88%
Interest rate floor	[21],[23],[29]	9.78%				9.78%
Principal amount	[23],[29]	$ 6,000
Investment cost	[2],[23],[29]	5,918
Investments, at fair value:	[23],[29]	$ 5,953
Investment, Identifier [Axis]: Debt Investments Software and Simon Data, Inc., Senior Secured, Maturity Date March 2027, Prime + 1.00%, Floor rate 8.75%, PIK Interest 1.95%, 2.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[20],[24]	2027-03				2027-03
Basis spread variable rate	[20],[21],[24]	1%				1%
Interest rate floor	[20],[21],[24]	8.75%				8.75%
Interest rate paid in kind	[20],[21],[24]	1.95%				1.95%
Exit fee rate	[20],[21],[24]	2.95%				2.95%
Principal amount	[20],[24]	$ 13,087
Investment cost	[2],[20],[24]	13,152
Investments, at fair value:	[20],[24]	$ 13,175
Investment, Identifier [Axis]: Debt Investments Software and Sisense Ltd., Senior Secured, Maturity Date July 2027, Prime + 1.50%, Floor rate 9.50%, PIK Interest 1.95%, 5.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26]	2027-07				2027-07
Basis spread variable rate	[21],[24],[25],[26]	1.50%				1.50%
Interest rate floor	[21],[24],[25],[26]	9.50%				9.50%
Interest rate paid in kind	[21],[24],[25],[26]	1.95%				1.95%
Exit fee rate	[21],[24],[25],[26]	5.95%				5.95%
Principal amount	[24],[25],[26]	$ 33,760
Investment cost	[2],[24],[25],[26]	34,152
Investments, at fair value:	[24],[25],[26]	$ 34,193
Investment, Identifier [Axis]: Debt Investments Software and Streamline Healthcare Solutions, Senior Secured, Maturity Date March 2028, 3-month SOFR + 7.25%, Floor rate 8.25%
Summary of Investment Holdings
Maturity Date	[19],[23],[29],[32]	2028-03				2028-03
Basis spread variable rate	[19],[21],[23],[29],[32]	7.25%				7.25%
Interest rate floor	[19],[21],[23],[29],[32]	8.25%				8.25%
Principal amount	[19],[23],[29],[32]	$ 17,600
Investment cost	[2],[19],[23],[29],[32]	17,324
Investments, at fair value:	[19],[23],[29],[32]	$ 17,688
Investment, Identifier [Axis]: Debt Investments Software and Sumo Logic, Inc., Senior Secured, Maturity Date March 2030, 3-month SOFR + 6.50%, Floor rate 7.50%
Summary of Investment Holdings
Maturity Date	[23]	2030-05				2030-05
Basis spread variable rate	[21],[23]	6.50%				6.50%
Interest rate floor	[21],[23]	7.50%				7.50%
Principal amount	[23]	$ 23,000
Investment cost	[2],[23]	22,521
Investments, at fair value:	[23]	$ 23,113
Investment, Identifier [Axis]: Debt Investments Software and Suzy, Inc., Senior Secured, Maturity Date August 2027, Prime + 1.75%, Floor rate 10.00%, PIK Interest 1.95%, 3.45% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[23],[24],[39]	2027-08				2027-08
Basis spread variable rate	[1],[21],[23],[24],[39]	1.75%				1.75%
Interest rate floor	[1],[21],[23],[24],[39]	10%				10%
Interest rate paid in kind	[1],[21],[23],[24],[39]	1.95%				1.95%
Exit fee rate	[1],[21],[23],[24],[39]	3.45%				3.45%
Principal amount	[1],[23],[24],[39]	$ 24,345
Investment cost	[1],[2],[23],[24],[39]	24,031
Investments, at fair value:	[1],[23],[24],[39]	$ 24,935
Investment, Identifier [Axis]: Debt Investments Software and TaxCalc, Senior Secured, Maturity Date November 2029, 3-month SONIA + 8.05%, Floor rate 8.55%
Summary of Investment Holdings
Maturity Date	[19],[23],[25],[26]	2029-11				2029-11
Basis spread variable rate	[19],[21],[23],[25],[26]	8.05%				8.05%
Interest rate floor	[19],[21],[23],[25],[26]	8.55%				8.55%
Principal amount	[19],[23],[25],[26]	$ 7,500
Investment cost	[2],[19],[23],[25],[26]	9,518
Investments, at fair value:	[19],[23],[25],[26]	$ 9,198
Investment, Identifier [Axis]: Debt Investments Software and ThreatConnect, Inc., Senior Secured, Maturity Date May 2026, 3-month SOFR + 9.15%, Floor rate 10.00%
Summary of Investment Holdings
Maturity Date	[19]	2026-05				2026-05
Basis spread variable rate	[19],[21]	9.15%				9.15%
Interest rate floor	[19],[21]	10%				10%
Principal amount	[19]	$ 12,324
Investment cost	[2],[19]	12,208
Investments, at fair value:	[19]	$ 12,324
Investment, Identifier [Axis]: Debt Investments Software and Tipalti Solutions Ltd., Senior Secured, Maturity Date April 2027, Prime + 0.45%, Floor rate 6.45%, PIK Interest 2.00%, 3.75% Exit Fee
Summary of Investment Holdings
Maturity Date	[24],[25],[26]	2027-04				2027-04
Basis spread variable rate	[21],[24],[25],[26]	0.45%				0.45%
Interest rate floor	[21],[24],[25],[26]	6.45%				6.45%
Interest rate paid in kind	[21],[24],[25],[26]	2%				2%
Exit fee rate	[21],[24],[25],[26]	3.75%				3.75%
Principal amount	[24],[25],[26]	$ 42,670
Investment cost	[2],[24],[25],[26]	42,379
Investments, at fair value:	[24],[25],[26]	43,448
Investment, Identifier [Axis]: Debt Investments Software and Total 3GTMS, LLC
Summary of Investment Holdings
Principal amount		19,473
Investment cost	[2]	19,453
Investments, at fair value:		19,453
Investment, Identifier [Axis]: Debt Investments Software and Total Armis, Inc.
Summary of Investment Holdings
Principal amount		75,883
Investment cost	[2]	75,464
Investments, at fair value:		76,439
Investment, Identifier [Axis]: Debt Investments Software and Total Cutover, Inc.,
Summary of Investment Holdings
Investment cost	[2]	7,279
Investments, at fair value:		$ 7,261
Investment, Identifier [Axis]: Debt Investments Software and Zappi, Inc., Senior Secured, Maturity Date December 2027, 3-month SOFR + 8.03%, Floor rate 9.03%
Summary of Investment Holdings
Maturity Date		2027-12	[19],[23],[25],[26],[29]	2027-12	[8],[9],[10],[11],[13]	2027-12	[19],[23],[25],[26],[29]	2027-12	[8],[9],[10],[11],[13]
Basis spread variable rate		8.03%	[19],[21],[23],[25],[26],[29]	8.03%	[5],[8],[9],[10],[11],[13]	8.03%	[19],[21],[23],[25],[26],[29]	8.03%	[5],[8],[9],[10],[11],[13]
Interest rate floor		9.03%	[19],[21],[23],[25],[26],[29]	9.03%	[5],[8],[9],[10],[11],[13]	9.03%	[19],[21],[23],[25],[26],[29]	9.03%	[5],[8],[9],[10],[11],[13]
Principal amount		$ 12,729	[19],[23],[25],[26],[29]	$ 9,000	[8],[9],[10],[11],[13]
Investment cost		12,522	[2],[19],[23],[25],[26],[29]	8,816	[6],[8],[9],[10],[11],[13]
Investments, at fair value:		$ 12,756	[19],[23],[25],[26],[29]	$ 8,967	[8],[9],[10],[11],[13]
Investment, Identifier [Axis]: Debt Investments Software and Zimperium, Inc., Senior Secured, Maturity Date May 2027, 3-month SOFR + 8.31%, Floor rate 9.31%
Summary of Investment Holdings
Maturity Date		2027-05	[23],[29]	2027-05	[8],[11]	2027-05	[23],[29]	2027-05	[8],[11]
Basis spread variable rate		8.31%	[21],[23],[29]	8.31%	[5],[8],[11]	8.31%	[21],[23],[29]	8.31%	[5],[8],[11]
Interest rate floor		9.31%	[21],[23],[29]	9.31%	[5],[8],[11]	9.31%	[21],[23],[29]	9.31%	[5],[8],[11]
Principal amount		$ 14,790	[23],[29]	$ 16,313	[8],[11]
Investment cost		14,618	[2],[23],[29]	16,057	[6],[8],[11]
Investments, at fair value:		$ 14,444	[23],[29]	$ 16,394	[8],[11]
Investment, Identifier [Axis]: Debt Investments Software and iGrafx, LLC, Senior Secured, Maturity Date May 2027, 1-month SOFR + 8.61%, Floor rate 9.51%, 0.47% Exit Fee
Summary of Investment Holdings
Maturity Date	[29]	2027-05				2027-05
Basis spread variable rate	[21],[29]	8.61%				8.61%
Interest rate floor	[21],[29]	9.51%				9.51%
Exit fee rate	[21],[29]	0.47%				0.47%
Principal amount	[29]	$ 4,950
Investment cost	[2],[29]	4,879
Investments, at fair value:	[29]	$ 4,869
Investment, Identifier [Axis]: Debt Investments Space Technologies (2.30%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	2.30%				2.30%
Investment cost	[2]	$ 45,302
Investments, at fair value:		$ 45,690
Investment, Identifier [Axis]: Debt Investments Space Technologies and Voyager Space Holdings, Inc., Senior Secured, Maturity Date July 2028, Prime + 1.25%, Floor rate 9.75%, PIK Interest 2.50%, 5.50% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[24],[32]	2028-07				2028-07
Basis spread variable rate	[1],[21],[24],[32]	1.25%				1.25%
Interest rate floor	[1],[21],[24],[32]	9.75%				9.75%
Interest rate paid in kind	[1],[21],[24],[32]	2.50%				2.50%
Exit fee rate	[1],[21],[24],[32]	5.50%				5.50%
Principal amount	[1],[24],[32]	$ 45,439
Investment cost	[1],[2],[24],[32]	45,302
Investments, at fair value:	[1],[24],[32]	$ 45,690
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology (0.31%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.31%				0.31%
Investment cost	[6]			$ 5,634
Investments, at fair value:				$ 5,617
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology (1.27%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.27%				1.27%
Investment cost	[2]	$ 25,086
Investments, at fair value:		$ 25,243
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology and Ampion, PBC, Senior Secured, Maturity Date May 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 3.78% Exit Fee
Summary of Investment Holdings
Maturity Date	[7],[13]			2025-05				2025-05
Basis spread variable rate	[5],[7],[13]			4.70%				4.70%
Interest rate floor	[5],[7],[13]			7.95%				7.95%
Interest rate paid in kind	[5],[7],[13]			1.45%				1.45%
Exit fee rate	[5],[7],[13]			3.78%				3.78%
Principal amount	[7],[13]			$ 3,926
Investment cost	[6],[7],[13]			3,952
Investments, at fair value:	[7],[13]			$ 3,939
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology and Ampion, PBC, Senior Secured, Maturity Date May 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 3.95% Exit Fee
Summary of Investment Holdings
Maturity Date	[19],[24]	2025-05				2025-05
Basis spread variable rate	[19],[21],[24]	4.70%				4.70%
Interest rate floor	[19],[21],[24]	7.95%				7.95%
Interest rate paid in kind	[19],[21],[24]	1.45%				1.45%
Exit fee rate	[19],[21],[24]	3.95%				3.95%
Principal amount	[19],[24]	$ 3,984
Investment cost	[2],[19],[24]	4,102
Investments, at fair value:	[19],[24]	$ 4,141
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology and Electric Hydrogen Co., Senior Secured, Maturity Date May 2028, Prime + 2.25%, Floor rate 10.75%, PIK Interest 1.25%, 4.89% Exit Fee
Summary of Investment Holdings
Maturity Date	[1],[22],[24]	2028-05				2028-05
Basis spread variable rate	[1],[21],[22],[24]	2.25%				2.25%
Interest rate floor	[1],[21],[22],[24]	10.75%				10.75%
Interest rate paid in kind	[1],[21],[22],[24]	1.25%				1.25%
Exit fee rate	[1],[21],[22],[24]	4.89%				4.89%
Principal amount	[1],[22],[24]	$ 20,127
Investment cost	[1],[2],[22],[24]	19,687
Investments, at fair value:	[1],[22],[24]	$ 19,830
Investment, Identifier [Axis]: Debt Investments Sustainable and Renewable Technology and SUNation Energy, Inc. (p.k.a. Pineapple Energy LLC), Senior Secured, Maturity Date June 2027, FIXED 10.00%
Summary of Investment Holdings
Maturity Date	[22]	2027-06				2027-06
Interest rate paid in cash	[21],[22]	10%				10%
Principal amount	[22]	$ 1,296
Investment cost	[2],[22]	1,297
Investments, at fair value:	[22]	$ 1,272
Investment, Identifier [Axis]: Debt Investments, Communications & Networking (1.38%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.38%				1.38%
Investment cost	[2]	$ 27,693
Investments, at fair value:		$ 27,491
Investment, Identifier [Axis]: Equity Investments (6.47%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	6.47%				6.47%
Investment cost	[2]	$ 157,712
Investments, at fair value:		$ 128,657
Investment, Identifier [Axis]: Equity Investments (8.44%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			8.44%				8.44%
Investment cost	[6]			$ 155,226
Investments, at fair value:				$ 152,170
Investment, Identifier [Axis]: Equity Investments Biotechnology Tools (0.07%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.07%				0.07%
Investment cost	[2]	$ 1,500
Investments, at fair value:		1,423
Investment, Identifier [Axis]: Equity Investments Biotechnology Tools and Alamar Biosciences, Inc., Equity, Acquisition Date 2/21/2024, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[2]	1,500
Investments, at fair value:		$ 1,423
Acquisition date	[3]	Feb. 21, 2024
Shares (in shares) | shares		503,778				503,778
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products (0.04%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.04%				0.04%
Investment cost	[2]	$ 1,675
Investments, at fair value:		783
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products (0.13%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.13%				0.13%
Investment cost	[6]			$ 1,764
Investments, at fair value:				2,264
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Fabletics, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock
Summary of Investment Holdings
Investment cost		128	[2]	128	[6]
Investments, at fair value:		$ 46		$ 96
Acquisition date		Apr. 30, 2010	[3]	Apr. 30, 2010	[43]
Shares (in shares) | shares		42,989		42,989		42,989		42,989
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Fabletics, Inc., Equity, Acquisition Date 7/16/2013, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 1,101	[2]	$ 1,101	[6]
Investments, at fair value:		$ 299		$ 700
Acquisition date		Jul. 16, 2013	[3]	Jul. 16, 2013	[43]
Shares (in shares) | shares		130,191		130,191		130,191		130,191
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Grove Collaborative, Inc., Equity, Acquisition Date 4/30/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 433	[2],[3]	$ 433	[6],[43]
Investments, at fair value:		$ 17	[3]	$ 21	[43]
Acquisition date		Apr. 30, 2021	[3]	Apr. 30, 2021	[43]
Shares (in shares) | shares		12,260	[3]	12,260	[43]	12,260	[3]	12,260	[43]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Savage X Holding, LLC, Equity, Acquisition Date 4/30/2010, Series Class A Units
Summary of Investment Holdings
Investment cost		$ 13	[2]	$ 13	[6]
Investments, at fair value:		$ 421		$ 863
Acquisition date		Apr. 30, 2010	[3]	Apr. 30, 2010	[43]
Shares (in shares) | shares		172,328		172,328		172,328		172,328
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and TFG Holding, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 89
Investments, at fair value:				$ 584
Acquisition date	[43]			Apr. 30, 2010
Shares (in shares) | shares				173,180				173,180
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Total Fabletics, Inc.
Summary of Investment Holdings
Investment cost		$ 1,229	[2]	$ 1,229	[6]
Investments, at fair value:		$ 345		$ 796
Shares (in shares) | shares		173,180		173,180		173,180		173,180
Investment, Identifier [Axis]: Equity Investments Consumer & Business Products and Total Tectura Corporation
Summary of Investment Holdings
Investment cost	[6]			$ 14,163
Investments, at fair value:				$ 3,267
Shares (in shares) | shares				419,230,161				419,230,161
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services (0.38%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.38%				0.38%
Investment cost	[2]	$ 26,410
Investments, at fair value:		7,502
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services (0.70%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.70%				0.70%
Investment cost	[6]			$ 26,145
Investments, at fair value:				12,703
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Carwow LTD, Equity, Acquisition Date 12/15/2021, Series Preferred Series D-4
Summary of Investment Holdings
Investment cost		1,151	[2],[25],[26]	1,151	[6],[9],[10]
Investments, at fair value:		$ 627	[25],[26]	$ 679	[9],[10]
Acquisition date		Dec. 15, 2021	[3],[25],[26]	Dec. 15, 2021	[9],[10],[43]
Shares (in shares) | shares		216,073	[25],[26]	199,742	[9],[10]	216,073	[25],[26]	199,742	[9],[10]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and DoorDash, Inc., Equity, Acquisition Date 12/20/2018, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 657
Investments, at fair value:	[43]			$ 5,636
Acquisition date	[43]			Dec. 20, 2018
Shares (in shares) | shares	[43]			56,996				56,996
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Lyft, Inc., Equity, Acquisition Date 12/26/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 5,263	[2],[3]	$ 5,263	[6],[43]
Investments, at fair value:		$ 1,299	[3]	$ 1,510	[43]
Acquisition date		Dec. 26, 2018	[3]	Dec. 26, 2018	[43]
Shares (in shares) | shares		100,738	[3]	100,738	[43]	100,738	[3]	100,738	[43]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Nerdy Inc., Equity, Acquisition Date 9/17/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,000	[2],[3]	$ 1,000	[6],[43]
Investments, at fair value:		$ 162	[3]	$ 343	[43]
Acquisition date		Sep. 17, 2021	[3]	Sep. 17, 2021	[43]
Shares (in shares) | shares		100,000	[3]	100,000	[43]	100,000	[3]	100,000	[43]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A
Summary of Investment Holdings
Investment cost		$ 1,663	[2]	$ 1,663	[6]
Investments, at fair value:		$ 467		$ 377
Acquisition date		Oct. 25, 2016	[3]	Oct. 25, 2016	[43]
Shares (in shares) | shares		286,080		286,080		286,080		286,080
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A-1
Summary of Investment Holdings
Investment cost		$ 632	[2]	$ 632	[6]
Investments, at fair value:		$ 177		$ 143
Acquisition date		Oct. 25, 2016	[3]	Oct. 25, 2016	[43]
Shares (in shares) | shares		108,710		108,710		108,710		108,710
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Oportun, Equity, Acquisition Date 6/28/2013, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 577	[2],[3]	$ 577	[6],[43]
Investments, at fair value:		$ 188	[3]	$ 189	[43]
Acquisition date		Jun. 28, 2013	[3]	Jun. 28, 2013	[43]
Shares (in shares) | shares		48,365	[3]	48,365	[43]	48,365	[3]	48,365	[43]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Reischling Press, Inc., Equity, Acquisition Date 7/31/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 39	[2]	$ 39	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Jul. 31, 2020	[3]	Jul. 31, 2020	[43]
Shares (in shares) | shares		3,095		3,095		3,095		3,095
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Rhino Labs, Inc., Equity, Acquisition Date 1/24/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,000	[2]	$ 1,000	[6]
Investments, at fair value:		$ 0		$ 559
Acquisition date		Jan. 24, 2022	[3]	Jan. 24, 2022	[43]
Shares (in shares) | shares		7,063		7,063		7,063		7,063
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 12/29/2023, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 13,263	[2],[33]	$ 13,263	[6],[34]
Investments, at fair value:		$ 3,606	[33]	$ 3,251	[34]
Acquisition date		Dec. 29, 2023	[3],[33]	Dec. 29, 2023	[34],[43]
Shares (in shares) | shares		3,235,298	[33]	3,235,298	[34]	3,235,298	[33]	3,235,298	[34]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 5/23/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 900	[2],[33]	$ 900	[6],[34]
Investments, at fair value:		$ 7	[33]	$ 4	[34]
Acquisition date		May 23, 2018	[3],[33]	May 23, 2018	[34],[43]
Shares (in shares) | shares		414,994,863	[33]	414,994,863	[34]	414,994,863	[33]	414,994,863	[34]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 6/6/2016, Series Preferred Series BB
Summary of Investment Holdings
Investment cost		$ 0	[2],[33]	$ 0	[6],[34]
Investments, at fair value:		$ 17	[33]	$ 12	[34]
Acquisition date		Jun. 06, 2016	[3],[33]	Jun. 06, 2016	[34],[43]
Shares (in shares) | shares		1,000,000	[33]	1,000,000	[34]	1,000,000	[33]	1,000,000	[34]
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Total OfferUp, Inc.
Summary of Investment Holdings
Investment cost		$ 2,295	[2]	$ 2,295	[6]
Investments, at fair value:		$ 644		$ 520
Shares (in shares) | shares		394,790		394,790		394,790		394,790
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Total Tectura Corporation
Summary of Investment Holdings
Investment cost	[2]	$ 14,163
Investments, at fair value:		$ 3,630
Shares (in shares) | shares		419,230,161				419,230,161
Investment, Identifier [Axis]: Equity Investments Consumer & Business Services and Worldremit Group Limited, Equity, Acquisition Date 6/24/2024, Series Preferred Series X
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 922
Investments, at fair value:	[25],[26]	$ 952
Acquisition date	[3],[25],[26]	Jun. 24, 2024
Shares (in shares) | shares	[25],[26]	9,737				9,737
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services (2.70%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	2.70%				2.70%
Investment cost	[2]	$ 34,444
Investments, at fair value:		53,645
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services (3.17%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			3.17%				3.17%
Investment cost	[6]			$ 34,444
Investments, at fair value:				57,072
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services and Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC), Equity, Acquisition Date 3/1/2018, Series Member Units
Summary of Investment Holdings
Investment cost	[6],[34],[35]			34,006
Investments, at fair value:	[34],[35]			$ 28,034
Acquisition date	[34],[35],[43]			Mar. 01, 2018
Shares (in shares) | shares	[34],[35]			1				1
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services and Gibraltar Acquisition, LLC, Equity, Acquisition Date 3/1/2018, Series Member Units
Summary of Investment Holdings
Investment cost	[2],[33],[36]	34,006
Investments, at fair value:	[33],[36]	$ 23,051
Acquisition date	[3],[33],[36]	Mar. 01, 2018
Shares (in shares) | shares	[33],[36]	1				1
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services and Hercules Adviser LLC, Equity, Acquisition Date 3/26/2021, Series Member Units
Summary of Investment Holdings
Investment cost		$ 35	[2],[33],[37]	$ 35	[6],[34],[38]
Investments, at fair value:		$ 30,190	[33],[37]	$ 28,713	[34],[38]
Acquisition date		Mar. 26, 2021	[3],[33],[37]	Mar. 26, 2021	[34],[38],[43]
Shares (in shares) | shares		1	[33],[37]	1	[34],[38]	1	[33],[37]	1	[34],[38]
Investment, Identifier [Axis]: Equity Investments Diversified Financial Services and Newfront Insurance Holdings, Inc., Equity, Acquisition Date 9/30/2021, Series Preferred Series D-2
Summary of Investment Holdings
Investment cost		$ 403	[2]	$ 403	[6]
Investments, at fair value:		$ 404		$ 325
Acquisition date		Sep. 30, 2021	[3]	Sep. 30, 2021	[43]
Shares (in shares) | shares		210,282		210,282		210,282		210,282
Investment, Identifier [Axis]: Equity Investments Drug Delivery (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets		0%	[18]	0%	[17]	0%	[18]	0%	[17]
Investment cost		$ 3,638	[2]	$ 3,638	[6]
Investments, at fair value:		10		21
Investment, Identifier [Axis]: Equity Investments Drug Delivery and Aytu BioScience, Inc., Equity, Acquisition Date 3/28/2014, Series Common Stock
Summary of Investment Holdings
Investment cost		1,500	[2],[3]	1,500	[6],[43]
Investments, at fair value:		$ 1	[3]	$ 2	[43]
Acquisition date		Mar. 28, 2014	[3]	Mar. 28, 2014	[43]
Shares (in shares) | shares		680	[3]	680	[43]	680	[3]	680	[43]
Investment, Identifier [Axis]: Equity Investments Drug Delivery and BioQ Pharma Incorporated, Equity, Acquisition Date 12/8/2015, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 500	[2]	$ 500	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Dec. 08, 2015	[3]	Dec. 08, 2015	[43]
Shares (in shares) | shares		165,000		165,000		165,000		165,000
Investment, Identifier [Axis]: Equity Investments Drug Delivery and PDS Biotechnology Corporation, Equity, Acquisition Date 4/6/2015, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 309	[2],[3]	$ 309	[6],[43]
Investments, at fair value:		$ 4	[3]	$ 12	[43]
Acquisition date		Apr. 06, 2015	[3]	Apr. 06, 2015	[43]
Shares (in shares) | shares		2,498	[3]	2,498	[43]	2,498	[3]	2,498	[43]
Investment, Identifier [Axis]: Equity Investments Drug Delivery and Talphera, Inc, Equity, Acquisition Date 12/10/2018, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3]	$ 1,329
Investments, at fair value:	[3]	$ 5
Acquisition date	[3]	Dec. 10, 2018
Shares (in shares) | shares	[3]	8,836				8,836
Investment, Identifier [Axis]: Equity Investments Drug Delivery and Talphera, Inc. (p.k.a. AcelRx Pharmaceuticals, Inc.), Equity, Acquisition Date 12/10/2018, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 1,329
Investments, at fair value:	[43]			$ 7
Acquisition date	[43]			Dec. 10, 2018
Shares (in shares) | shares	[43]			8,836				8,836
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development (1.56%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.56%				1.56%
Investment cost	[2]	$ 36,566
Investments, at fair value:		31,020
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development (2.47%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			2.47%				2.47%
Investment cost	[6]			$ 40,735
Investments, at fair value:				44,500
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development Total Valo Health LLC
Summary of Investment Holdings
Investment cost	[6]			4,000
Investments, at fair value:				$ 4,098
Shares (in shares) | shares				680,410				680,410
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Akero Therapeutics, Inc., Equity, Acquisition Date 3/8/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[25]	1,000
Investments, at fair value:	[3],[25]	$ 959
Acquisition date	[3],[25]	Mar. 08, 2024
Shares (in shares) | shares	[3],[25]	34,483				34,483
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Avalo Therapeutics, Inc., Equity, Acquisition Date 8/19/2014, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,000	[2],[3]	$ 1,000	[6],[43]
Investments, at fair value:		$ 0	[3]	$ 0	[43]
Acquisition date		Aug. 19, 2014	[3]	Aug. 19, 2014	[43]
Shares (in shares) | shares		42	[3]	42	[43]	42	[3]	42	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Equity, Acquisition Date 5/9/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 4,165	[2],[3],[25],[31]	$ 4,165	[6],[9],[30],[43]
Investments, at fair value:		$ 10,747	[3],[25],[31]	$ 10,110	[9],[30],[43]
Acquisition date		May 09, 2022	[3],[25],[31]	May 09, 2022	[9],[30],[43]
Shares (in shares) | shares		127,021	[3],[25],[31]	127,021	[9],[30],[43]	127,021	[3],[25],[31]	127,021	[9],[30],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Bicycle Therapeutics PLC, Equity, Acquisition Date 10/5/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,871	[2],[3],[25],[26]	$ 1,871	[6],[9],[10],[43]
Investments, at fair value:		$ 1,373	[3],[25],[26]	$ 1,774	[9],[10],[43]
Acquisition date		Oct. 05, 2020	[3],[25],[26]	Oct. 05, 2020	[9],[10],[43]
Shares (in shares) | shares		98,100	[3],[25],[26]	98,100	[9],[10],[43]	98,100	[3],[25],[26]	98,100	[9],[10],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and BridgeBio Pharma, Inc., Equity, Acquisition Date 6/21/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 2,255	[2],[3]	$ 2,255	[6],[43]
Investments, at fair value:		$ 6,348	[3]	$ 9,339	[43]
Acquisition date		Jun. 21, 2018	[3]	Jun. 21, 2018	[43]
Shares (in shares) | shares		231,329	[3]	231,329	[43]	231,329	[3]	231,329	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Cyclo Therapeutics, Inc. (p.k.a. Applied Molecular Transport)., Equity, Acquisition Date 4/06/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[43]			$ 42
Investments, at fair value:	[9],[43]			$ 0
Acquisition date	[9],[43]			Apr. 06, 2021
Shares (in shares) | shares	[9],[43]			134				134
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Cyclo Therapeutics, Inc., Equity, Acquisition Date 4/6/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[25]	$ 42
Investments, at fair value:	[3],[25]	$ 0
Acquisition date	[3],[25]	Apr. 06, 2021
Shares (in shares) | shares	[3],[25]	134				134
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Dare Biosciences, Inc., Equity, Acquisition Date 1/8/2015, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,000	[2],[3]	$ 1,000	[6],[43]
Investments, at fair value:		$ 4	[3]	$ 4	[43]
Acquisition date		Jan. 08, 2015	[3]	Jan. 08, 2015	[43]
Shares (in shares) | shares		1,129	[3]	13,550	[43]	1,129	[3]	13,550	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Dynavax Technologies, Equity, Acquisition Date 7/22/2015, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 550	[2],[3],[25]	$ 550	[6],[9],[43]
Investments, at fair value:		$ 256	[3],[25]	$ 280	[9],[43]
Acquisition date		Jul. 22, 2015	[3],[25]	Jul. 22, 2015	[9],[43]
Shares (in shares) | shares		20,000	[3],[25]	20,000	[9],[43]	20,000	[3],[25]	20,000	[9],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Gritstone Bio, Inc., Equity, Acquisition Date 10/26/2022, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 1,000
Investments, at fair value:	[43]			$ 903
Acquisition date	[43]			Oct. 26, 2022
Shares (in shares) | shares	[43]			442,477				442,477
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Heron Therapeutics, Inc., Equity, Acquisition Date 7/25/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 500	[2],[3]	$ 500	[6],[43]
Investments, at fair value:		$ 558	[3]	$ 620	[43]
Acquisition date		Jul. 25, 2023	[3]	Jul. 25, 2023	[43]
Shares (in shares) | shares		364,963	[3]	364,963	[43]	364,963	[3]	364,963	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Hibercell, Inc., Equity, Acquisition Date 5/7/2021, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 4,250	[1],[2]	$ 4,250	[6],[12]
Investments, at fair value:		$ 328	[1]	$ 1,834	[12]
Acquisition date		May 07, 2021	[1],[3]	May 07, 2021	[12],[43]
Shares (in shares) | shares		3,466,840	[1]	3,466,840	[12]	3,466,840	[1]	3,466,840	[12]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and HilleVax, Inc, Equity, Acquisition Date 5/3/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 4,000	[2],[3]	$ 4,000	[6],[43]
Investments, at fair value:		$ 487	[3]	$ 3,777	[43]
Acquisition date		May 03, 2022	[3]	May 03, 2022	[43]
Shares (in shares) | shares		235,295	[3]	235,295	[43]	235,295	[3]	235,295	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Humanigen, Inc., Equity, Acquisition Date 3/31/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[43]			$ 800
Investments, at fair value:	[9],[43]			$ 0
Acquisition date	[9],[43]			Mar. 31, 2021
Shares (in shares) | shares	[9],[43]			43,243				43,243
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Kura Oncology, Inc., Equity, Acquisition Date 6/16/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 550	[2],[3],[25]	$ 550	[6],[9],[43]
Investments, at fair value:		$ 417	[3],[25]	$ 688	[9],[43]
Acquisition date		Jun. 16, 2023	[3],[25]	Jun. 16, 2023	[9],[43]
Shares (in shares) | shares		47,826	[3],[25]	47,826	[9],[43]	47,826	[3],[25]	47,826	[9],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Equity, Acquisition Date 9/29/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 773	[2],[3],[25]	$ 773	[6],[9],[43]
Investments, at fair value:		$ 1,574	[3],[25]	$ 1,180	[9],[43]
Acquisition date		Sep. 29, 2023	[3],[25]	Sep. 29, 2023	[9],[43]
Shares (in shares) | shares		5,100	[3],[25]	5,100	[9],[43]	5,100	[3],[25]	5,100	[9],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Preferred Series C
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 2,000
Investments, at fair value:	[25],[26]	$ 1,241
Acquisition date	[3],[25],[26]	Dec. 15, 2021
Shares (in shares) | shares	[25],[26]	983				983
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 2,000
Investments, at fair value:	[9],[10]			$ 1,427
Acquisition date	[9],[10],[43]			Dec. 15, 2021
Shares (in shares) | shares	[9],[10]			983				983
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Equity, Acquisition Date 6/9/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,730	[2],[3],[25],[31]	$ 1,730	[6],[9],[30],[43]
Investments, at fair value:		$ 1,196	[3],[25],[31]	$ 1,344	[9],[30],[43]
Acquisition date		Jun. 09, 2023	[3],[25],[31]	Jun. 09, 2023	[9],[30],[43]
Shares (in shares) | shares		147,233	[3],[25],[31]	147,233	[9],[30],[43]	147,233	[3],[25],[31]	147,233	[9],[30],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Rocket Pharmaceuticals, Ltd., Equity, Acquisition Date 8/22/2007, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,500	[2],[3]	$ 1,500	[6],[43]
Investments, at fair value:		$ 12	[3]	$ 28	[43]
Acquisition date		Aug. 22, 2007	[3]	Aug. 22, 2007	[43]
Shares (in shares) | shares		944	[3]	944	[43]	944	[3]	944	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Savara, Inc., Equity, Acquisition Date 8/11/2015, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 203	[2],[3]	$ 203	[6],[43]
Investments, at fair value:		$ 34	[3]	$ 52	[43]
Acquisition date		Aug. 11, 2015	[3]	Aug. 11, 2015	[43]
Shares (in shares) | shares		11,119	[3]	11,119	[43]	11,119	[3]	11,119	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Sio Gene Therapies, Inc., Equity, Acquisition Date 2/2/2017, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 1,269
Investments, at fair value:	[43]			$ 6
Acquisition date	[43]			Feb. 02, 2017
Shares (in shares) | shares	[43]			16,228				16,228
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc., Equity, Acquisition Date 5/5/2022, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[43]			$ 2,100
Investments, at fair value:	[9],[43]			$ 3,150
Acquisition date	[9],[43]			May 05, 2022
Shares (in shares) | shares	[9],[43]			155,555				155,555
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Total Valo Health, LLC
Summary of Investment Holdings
Investment cost	[2]	$ 4,000
Investments, at fair value:		$ 1,896
Shares (in shares) | shares		680,410				680,410
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 10/31/2022, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 1,000	[2]	$ 1,000	[6]
Investments, at fair value:		$ 762		$ 1,187
Acquisition date		Oct. 31, 2022	[3]	Oct. 31, 2022	[43]
Shares (in shares) | shares		170,102		170,102		170,102		170,102
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 12/11/2020, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 3,000	[2]	$ 3,000	[6]
Investments, at fair value:		$ 1,134		$ 2,911
Acquisition date		Dec. 11, 2020	[3]	Dec. 11, 2020	[43]
Shares (in shares) | shares		510,308		510,308		510,308		510,308
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Verge Analytics, Inc., Equity, Acquisition Date 9/6/2023, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 1,500	[2]	$ 1,500	[6]
Investments, at fair value:		$ 1,519		$ 1,753
Acquisition date		Sep. 06, 2023	[3]	Sep. 06, 2023	[43]
Shares (in shares) | shares		208,588		208,588		208,588		208,588
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and Viridian Therapeutics, Inc., Equity, Acquisition Date 11/6/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 400	[2],[3],[25]	$ 400	[6],[9],[43]
Investments, at fair value:		$ 619	[3],[25]	$ 704	[9],[43]
Acquisition date		Nov. 06, 2023	[3],[25]	Nov. 06, 2023	[9],[43]
Shares (in shares) | shares		32,310	[3],[25]	32,310	[9],[43]	32,310	[3],[25]	32,310	[9],[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Equity, Acquisition Date 11/26/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 2,945	[2],[3]	$ 2,945	[6],[43]
Investments, at fair value:		$ 1,149	[3]	$ 1,313	[43]
Acquisition date		Nov. 26, 2019	[3]	Nov. 26, 2019	[43]
Shares (in shares) | shares		1,566,064	[3]	1,566,064	[43]	1,566,064	[3]	1,566,064	[43]
Investment, Identifier [Axis]: Equity Investments Drug Discovery & Development and uniQure B.V., Equity, Acquisition Date 1/31/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 332	[2],[3],[25],[26]	$ 332	[6],[9],[10],[43]
Investments, at fair value:		$ 303	[3],[25],[26]	$ 116	[9],[10],[43]
Acquisition date		Jan. 31, 2019	[3],[25],[26]	Jan. 31, 2019	[9],[10],[43]
Shares (in shares) | shares		17,175	[3],[25],[26]	17,175	[9],[10],[43]	17,175	[3],[25],[26]	17,175	[9],[10],[43]
Investment, Identifier [Axis]: Equity Investments Electronics & Computer Hardware (0.05%)
Summary of Investment Holdings
Investment owned, percent of net assets		0.05%	[18]	0.05%	[17]	0.05%	[18]	0.05%	[17]
Investment cost		$ 2,150	[2]	$ 2,150	[6]
Investments, at fair value:		937		951
Investment, Identifier [Axis]: Equity Investments Electronics & Computer Hardware and Locus Robotics Corp., Equity, Acquisition Date 11/17/2022, Series Preferred Series F
Summary of Investment Holdings
Investment cost		650	[2]	650	[6]
Investments, at fair value:		$ 294		$ 407
Acquisition date		Nov. 17, 2022	[3]	Nov. 17, 2022	[43]
Shares (in shares) | shares		15,116		15,116		15,116		15,116
Investment, Identifier [Axis]: Equity Investments Electronics & Computer Hardware and Skydio, Inc., Equity, Acquisition Date 3/8/2022, Series Preferred Series E
Summary of Investment Holdings
Investment cost		$ 1,500	[2]	$ 1,500	[6]
Investments, at fair value:		$ 643		$ 544
Acquisition date		Mar. 08, 2022	[3]	Mar. 08, 2022	[43]
Shares (in shares) | shares		248,900		248,900		248,900		248,900
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other (0.05%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.05%				0.05%
Investment cost	[6]			$ 6,782
Investments, at fair value:				960
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other (0.38%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.38%				0.38%
Investment cost	[2]	$ 13,417
Investments, at fair value:		7,503
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and 23andMe, Inc., Equity, Acquisition Date 3/11/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		5,094	[2],[3]	5,094	[6],[43]
Investments, at fair value:		$ 134	[3]	$ 754	[43]
Acquisition date		Mar. 11, 2019	[3]	Mar. 11, 2019	[43]
Shares (in shares) | shares		41,286	[3]	825,732	[43]	41,286	[3]	825,732	[43]
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and Carbon Health Technologies, Inc., Equity, Acquisition Date 3/30/2021, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 1,687	[2]	$ 1,688	[6]
Investments, at fair value:		$ 2		$ 206
Acquisition date		Mar. 30, 2021	[3]	Mar. 30, 2021	[43]
Shares (in shares) | shares		217,880		217,880		217,880		217,880
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and Click Therapeutics, Inc., Equity, Acquisition Date 5/20/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	$ 1,662
Investments, at fair value:	[1]	$ 1,825
Acquisition date	[1],[3]	May 20, 2024
Shares (in shares) | shares	[1]	560,000				560,000
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and Curana Health Holdings, LLC, Equity, Acquisition Date 5/13/2024, Series Common Units
Summary of Investment Holdings
Investment cost	[2]	$ 2,500
Investments, at fair value:		$ 2,603
Acquisition date	[3]	May 13, 2024
Shares (in shares) | shares		1,114,380				1,114,380
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and Main Street Rural, Inc., Equity, Acquisition Date 10/28/2024, Series Preferred Series D
Summary of Investment Holdings
Investment cost	[2]	$ 874
Investments, at fair value:		$ 874
Acquisition date	[3]	Oct. 28, 2024
Shares (in shares) | shares		496				496
Investment, Identifier [Axis]: Equity Investments Healthcare Services, Other and WellBe Senior Medical, LLC, Equity, Acquisition Date 6/10/2024, Series Common Units
Summary of Investment Holdings
Investment cost	[2]	$ 1,600
Investments, at fair value:		$ 2,065
Acquisition date	[3]	Jun. 10, 2024
Shares (in shares) | shares		181,163				181,163
Investment, Identifier [Axis]: Equity Investments Information Services (0.20%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.20%				0.20%
Investment cost	[2]	$ 3,825
Investments, at fair value:		3,898
Investment, Identifier [Axis]: Equity Investments Information Services (0.35%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.35%				0.35%
Investment cost	[6]			$ 4,440
Investments, at fair value:				6,243
Investment, Identifier [Axis]: Equity Investments Information Services and Planet Labs, Inc., Equity, Acquisition Date 6/21/2019, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			615
Investments, at fair value:	[43]			$ 1,353
Acquisition date	[43]			Jun. 21, 2019
Shares (in shares) | shares	[43]			547,880				547,880
Investment, Identifier [Axis]: Equity Investments Information Services and Yipit, LLC, Equity, Acquisition Date 12/30/2021, Series Preferred Series E
Summary of Investment Holdings
Investment cost		3,825	[2]	$ 3,825	[6]
Investments, at fair value:		$ 3,898		$ 4,890
Acquisition date		Dec. 30, 2021	[3]	Dec. 30, 2021	[43]
Shares (in shares) | shares		41,021		41,021		41,021		41,021
Investment, Identifier [Axis]: Equity Investments Medical Devices & Equipment (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0%				0%
Investment cost	[2]	$ 250
Investments, at fair value:		69
Investment, Identifier [Axis]: Equity Investments Medical Devices & Equipment (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.01%				0.01%
Investment cost	[6]			$ 250
Investments, at fair value:				262
Investment, Identifier [Axis]: Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Common Units
Summary of Investment Holdings
Investment cost		0	[2],[33]	0	[6],[34]
Investments, at fair value:		$ 0	[33]	$ 2	[34]
Acquisition date		Oct. 15, 2021	[3],[33]	Oct. 15, 2021	[34],[43]
Shares (in shares) | shares		180,000	[33]	180,000	[34]	180,000	[33]	180,000	[34]
Investment, Identifier [Axis]: Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Preferred Series A-2
Summary of Investment Holdings
Investment cost		$ 250	[2],[33]	$ 250	[6],[34]
Investments, at fair value:		$ 69	[33]	$ 260	[34]
Acquisition date		Oct. 15, 2021	[3],[33]	Oct. 15, 2021	[34],[43]
Shares (in shares) | shares		5,000,000	[33]	5,000,000	[34]	5,000,000	[33]	5,000,000	[34]
Investment, Identifier [Axis]: Equity Investments Medical Devices & Equipment and Total Coronado Aesthetics, LLC
Summary of Investment Holdings
Investment cost		$ 250	[2]	$ 250	[6]
Investments, at fair value:		$ 69		$ 262
Shares (in shares) | shares		5,180,000		5,180,000		5,180,000		5,180,000
Investment, Identifier [Axis]: Equity Investments Semiconductors (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.01%				0.01%
Investment cost	[2]	$ 160
Investments, at fair value:		210
Investment, Identifier [Axis]: Equity Investments Semiconductors (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.02%				0.02%
Investment cost	[6]			$ 160
Investments, at fair value:				394
Investment, Identifier [Axis]: Equity Investments Semiconductors and Achronix Semiconductor Corporation, Equity, Acquisition Date 7/1/2011, Series Preferred Series C
Summary of Investment Holdings
Investment cost		160	[2]	160	[6]
Investments, at fair value:		$ 210		$ 394
Acquisition date		Jul. 01, 2011	[3]	Jul. 01, 2011	[43]
Shares (in shares) | shares		277,995		277,995		277,995		277,995
Investment, Identifier [Axis]: Equity Investments Software (0.99%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.99%				0.99%
Investment cost	[2]	$ 23,524
Investments, at fair value:		19,665
Investment, Identifier [Axis]: Equity Investments Software (1.27%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			1.27%				1.27%
Investment cost	[6]			$ 23,210
Investments, at fair value:				22,919
Investment, Identifier [Axis]: Equity Investments Software and 3GTMS, LLC, Equity, Acquisition Date 8/9/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		1,000	[2]	1,000	[6]
Investments, at fair value:		$ 666		$ 863
Acquisition date		Aug. 09, 2021	[3]	Aug. 09, 2021	[43]
Shares (in shares) | shares		1,000,000		1,000,000		1,000,000		1,000,000
Investment, Identifier [Axis]: Equity Investments Software and Armis, Inc., Equity, Acquisition Date 10/18/2024, Series Preferred Series D
Summary of Investment Holdings
Investment cost	[2]	$ 2,000
Investments, at fair value:		$ 2,000
Acquisition date	[3]	Oct. 18, 2024
Shares (in shares) | shares		294,213				294,213
Investment, Identifier [Axis]: Equity Investments Software and Black Crow AI, Inc. affiliates, Equity, Acquisition Date 3/24/2021, Series Preferred Note
Summary of Investment Holdings
Investment cost		$ 2,406	[2],[44]	$ 2,406	[6],[45]
Investments, at fair value:		$ 2,406	[44]	$ 2,406	[45]
Acquisition date		Mar. 24, 2021	[3],[44]	Mar. 24, 2021	[43],[45]
Shares (in shares) | shares		3	[44]	3	[45]	3	[44]	3	[45]
Investment, Identifier [Axis]: Equity Investments Software and CapLinked, Inc., Equity, Acquisition Date 10/26/2012, Series Preferred Series A-3
Summary of Investment Holdings
Investment cost		$ 51	[2]	$ 51	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Oct. 26, 2012	[3]	Oct. 26, 2012	[43]
Shares (in shares) | shares		53,614		53,614		53,614		53,614
Investment, Identifier [Axis]: Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 11/20/2018, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 500	[2],[25],[26]	$ 500	[6],[9],[10]
Investments, at fair value:		$ 722	[25],[26]	$ 842	[9],[10]
Acquisition date		Nov. 20, 2018	[3],[25],[26]	Nov. 20, 2018	[9],[10],[43]
Shares (in shares) | shares		108,500	[25],[26]	108,500	[9],[10]	108,500	[25],[26]	108,500	[9],[10]
Investment, Identifier [Axis]: Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 12/22/2020, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 138	[2],[25],[26]	$ 138	[6],[9],[10]
Investments, at fair value:		$ 257	[25],[26]	$ 303	[9],[10]
Acquisition date		Dec. 22, 2020	[3],[25],[26]	Dec. 22, 2020	[9],[10],[43]
Shares (in shares) | shares		41,000	[25],[26]	41,000	[9],[10]	41,000	[25],[26]	41,000	[9],[10]
Investment, Identifier [Axis]: Equity Investments Software and DNAnexus, Inc., Equity, Acquisition Date 3/21/2024, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[2]	$ 97
Investments, at fair value:		$ 5
Acquisition date	[3]	Mar. 21, 2014
Shares (in shares) | shares		51,948				51,948
Investment, Identifier [Axis]: Equity Investments Software and Docker, Inc., Equity, Acquisition Date 11/29/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 4,284	[2]	$ 4,284	[6]
Investments, at fair value:		$ 198		$ 636
Acquisition date		Nov. 29, 2018	[3]	Nov. 29, 2018	[43]
Shares (in shares) | shares		20,000		20,000		20,000		20,000
Investment, Identifier [Axis]: Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 10/22/2015, Series Preferred Series 2
Summary of Investment Holdings
Investment cost		$ 1,000	[2]	$ 1,000	[6]
Investments, at fair value:		$ 5,194		$ 2,752
Acquisition date		Oct. 22, 2015	[3]	Oct. 22, 2015	[43]
Shares (in shares) | shares		458,841		458,841		458,841		458,841
Investment, Identifier [Axis]: Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 8/24/2017, Series Preferred Series 3
Summary of Investment Holdings
Investment cost		$ 300	[2]	$ 300	[6]
Investments, at fair value:		$ 1,075		$ 587
Acquisition date		Aug. 24, 2017	[3]	Aug. 24, 2017	[43]
Shares (in shares) | shares		93,620		93,620		93,620		93,620
Investment, Identifier [Axis]: Equity Investments Software and HighRoads, Inc., Equity, Acquisition Date 1/18/2013, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 307	[2]	$ 307	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Jan. 18, 2013	[3]	Jan. 18, 2013	[43]
Shares (in shares) | shares		190		190		190		190
Investment, Identifier [Axis]: Equity Investments Software and Leapwork ApS, Equity, Acquisition Date 8/25/2023, Preferred Series B2
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 250
Investments, at fair value:	[9],[10]			$ 231
Acquisition date	[9],[10],[43]			Aug. 25, 2023
Shares (in shares) | shares	[9],[10]			183,073				183,073
Investment, Identifier [Axis]: Equity Investments Software and Leapwork ApS., Equity, Acquisition Date 8/25/2023, Series Preferred Series B2
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 250
Investments, at fair value:	[25],[26]	$ 132
Acquisition date	[3],[25],[26]	Aug. 25, 2023
Shares (in shares) | shares	[25],[26]	183,073				183,073
Investment, Identifier [Axis]: Equity Investments Software and Lightbend, Inc., Equity, Acquisition Date 12/4/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 265	[2]	$ 265	[6]
Investments, at fair value:		$ 24		$ 23
Acquisition date		Dec. 04, 2020	[3]	Dec. 04, 2020	[43]
Shares (in shares) | shares		38,461		38,461		38,461		38,461
Investment, Identifier [Axis]: Equity Investments Software and Nextdoor.com, Inc., Equity, Acquisition Date 8/1/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 4,854	[2],[3]	$ 4,854	[6],[43]
Investments, at fair value:		$ 2,416	[3]	$ 1,927	[43]
Acquisition date		Aug. 01, 2018	[3]	Aug. 01, 2018	[43]
Shares (in shares) | shares		1,019,255	[3]	1,019,255	[43]	1,019,255	[3]	1,019,255	[43]
Investment, Identifier [Axis]: Equity Investments Software and Palantir Technologies, Equity, Acquisition Date 9/23/2020, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 3,474
Investments, at fair value:	[43]			$ 9,758
Acquisition date	[43]			Sep. 23, 2020
Shares (in shares) | shares	[43]			568,337				568,337
Investment, Identifier [Axis]: Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 11/25/2020, Series Preferred Series E
Summary of Investment Holdings
Investment cost		$ 2,000	[2]	$ 2,000	[6]
Investments, at fair value:		$ 1,988		$ 1,721
Acquisition date		Nov. 25, 2020	[3]	Nov. 25, 2020	[43]
Shares (in shares) | shares		580,983		580,983		580,983		580,983
Investment, Identifier [Axis]: Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 8/12/2021, Series Preferred Series F
Summary of Investment Holdings
Investment cost		$ 280	[2]	$ 280	[6]
Investments, at fair value:		$ 216		$ 196
Acquisition date		Aug. 12, 2021	[3]	Aug. 12, 2021	[43]
Shares (in shares) | shares		52,956		52,956		52,956		52,956
Investment, Identifier [Axis]: Equity Investments Software and SirionLabs Pte. Ltd., Equity, Acquisition Date 6/30/2024, Series Preferred Series F1
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 1,792
Investments, at fair value:	[25],[26]	$ 1,996
Acquisition date	[3],[25],[26]	Jun. 30, 2024
Shares (in shares) | shares	[25],[26]	152,250				152,250
Investment, Identifier [Axis]: Equity Investments Software and Total Contentful Global, Inc.
Summary of Investment Holdings
Investment cost		$ 638	[2]	$ 638	[6]
Investments, at fair value:		$ 979		$ 1,145
Shares (in shares) | shares		149,500		149,500		149,500		149,500
Investment, Identifier [Axis]: Equity Investments Software and Total Druva Holdings, Inc.
Summary of Investment Holdings
Investment cost	[6]			$ 1,300
Investments, at fair value:				$ 3,339
Shares (in shares) | shares				552,461				552,461
Investment, Identifier [Axis]: Equity Investments Software and Total SingleStore, Inc.
Summary of Investment Holdings
Investment cost		$ 2,280	[2]	$ 2,280	[6]
Investments, at fair value:		$ 2,204		$ 1,917
Shares (in shares) | shares		633,939		633,939		633,939		633,939
Investment, Identifier [Axis]: Equity Investments Software and Verana Health, Inc., Equity, Acquisition Date 7/8/2021, Series Preferred Series E
Summary of Investment Holdings
Investment cost		$ 2,000	[2]	$ 2,000	[6]
Investments, at fair value:		$ 370		$ 422
Acquisition date		Jul. 08, 2021	[3]	Jul. 08, 2021	[43]
Shares (in shares) | shares		952,562		952,562		952,562		952,562
Investment, Identifier [Axis]: Equity Investments Software and ZeroFox, Inc., Equity, Acquisition Date 5/7/2020, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 101
Investments, at fair value:	[43]			$ 252
Acquisition date	[43]			May 07, 2020
Shares (in shares) | shares	[43]			289,992				289,992
Investment, Identifier [Axis]: Equity Investments Software, Total Druva Holdings, Inc.
Summary of Investment Holdings
Investment cost	[2]	$ 1,300
Investments, at fair value:		$ 6,269
Shares (in shares) | shares		552,461				552,461
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology (0.10%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.10%				0.10%
Investment cost	[2]	$ 10,153
Investments, at fair value:		1,992
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology (0.22%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.22%				0.22%
Investment cost	[6]			$ 11,508
Investments, at fair value:				3,881
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Equity, Acquisition Date 9/13/2012, Series Preferred Series C-1
Summary of Investment Holdings
Investment cost	[6]			711
Investments, at fair value:				$ 529
Acquisition date	[43]			Sep. 13, 2012
Shares (in shares) | shares				187,265				187,265
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Impossible Foods, Inc., Equity, Acquisition Date 5/10/2019, Series Preferred Series E-1
Summary of Investment Holdings
Investment cost		2,000	[2]	$ 2,000	[6]
Investments, at fair value:		$ 106		$ 479
Acquisition date		May 10, 2019	[3]	May 10, 2019	[43]
Shares (in shares) | shares		188,611		188,611		188,611		188,611
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Modumetal, Inc., Equity, Acquisition Date 6/1/2015, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 500	[2]	$ 500	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Jun. 01, 2015	[3]	Jun. 01, 2015	[43]
Shares (in shares) | shares		1,035		1,035		1,035		1,035
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and NantEnergy, LLC, Equity, Acquisition Date 8/31/2013, Series Common Units
Summary of Investment Holdings
Investment cost	[6]			$ 102
Investments, at fair value:				$ 0
Acquisition date	[43]			Aug. 31, 2013
Shares (in shares) | shares				59,665				59,665
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Equity, Acquisition Date 12/10/2020, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 3,153
Investments, at fair value:	[43]			$ 180
Acquisition date	[43]			Dec. 10, 2020
Shares (in shares) | shares	[43]			304,487				304,487
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Pivot Bio, Inc., Equity, Acquisition Date 6/28/2021, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 4,500	[2]	$ 4,500	[6]
Investments, at fair value:		$ 1,885		$ 2,684
Acquisition date		Jun. 28, 2021	[3]	Jun. 28, 2021	[43]
Shares (in shares) | shares		593,080		593,080		593,080		593,080
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and Proterra, Inc., Equity, Acquisition Date 5/28/2015, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 542
Investments, at fair value:	[43]			$ 9
Acquisition date	[43]			May 28, 2015
Shares (in shares) | shares	[43]			457,841				457,841
Investment, Identifier [Axis]: Equity Investments Sustainable and Renewable Technology and SUNation Energy, Inc. (p.k.a. Pineapple Energy LLC), Equity, Acquisition Date 12/10/2020, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3]	$ 3,153
Investments, at fair value:	[3]	$ 1
Acquisition date	[3]	Dec. 10, 2020
Shares (in shares) | shares	[3]	405				405
Investment, Identifier [Axis]: Investment Fund After Cash & Cash Equivalents (183.28%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			183.28%				183.28%
Investment cost	[6]			$ 3,303,033
Investments, at fair value:				3,304,046
Investment, Identifier [Axis]: Investment Fund After Cash & Cash Equivalents (185.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	185.02%				185.02%
Investment cost	[2]	$ 3,729,977
Investments, at fair value:		3,681,078
Investment, Identifier [Axis]: Investment Fund Cash & Cash Equivalent and GS Financial Square Government Fund, FGTXX/38141W273
Summary of Investment Holdings
Investment cost	[2]	21,100
Investments, at fair value:		$ 21,100
Investment, Identifier [Axis]: Investment Fund Cash & Cash Equivalent and GS Financial Square Government Fund, Series FGTXX/38141W273
Summary of Investment Holdings
Investment cost	[6]			56,000
Investments, at fair value:				$ 56,000
Investment, Identifier [Axis]: Investment Fund In Cash & Cash Equivalents (1.06%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.06%				1.06%
Investment cost	[2]	$ 21,100
Investments, at fair value:		$ 21,100
Investment, Identifier [Axis]: Investment Fund In Cash & Cash Equivalents (3.11%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			3.11%				3.11%
Investment cost	[6]			$ 56,000
Investments, at fair value:				$ 56,000
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments (0.26%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.26%				0.26%
Investment cost	[6]			$ 4,483
Investments, at fair value:				$ 4,608
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments (0.31%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.31%				0.31%
Investment cost	[2]	$ 4,470
Investments, at fair value:		$ 6,220
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Drug Discovery & Development (0.23%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.23%				0.23%
Investment cost	[6]			$ 4,102
Investments, at fair value:				4,230
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Drug Discovery & Development (0.29%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.29%				0.29%
Investment cost	[2]	$ 4,089
Investments, at fair value:		5,820
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund I C.V., Investment Funds & Vehicles, Acquisition Date 11/16/2020
Summary of Investment Holdings
Investment cost		2,847	[2],[23],[25],[26]	3,783	[6],[8],[9],[10]
Investments, at fair value:		$ 4,382	[23],[25],[26]	$ 3,619	[8],[9],[10]
Acquisition date		Nov. 16, 2020	[3],[23],[25],[26]	Nov. 16, 2020	[8],[9],[10],[43]
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund II C.V., Investment Funds & Vehicles, Acquisition Date 6/23/2022
Summary of Investment Holdings
Investment cost		$ 1,242	[2],[23],[25],[26]	$ 319	[6],[8],[9],[10]
Investments, at fair value:		$ 1,438	[23],[25],[26]	$ 611	[8],[9],[10]
Acquisition date		Jun. 23, 2022	[3],[23],[25],[26]	Jun. 23, 2022	[8],[9],[10],[43]
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Software (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets		0.02%	[18]	0.02%	[17]	0.02%	[18]	0.02%	[17]
Investment cost		$ 381	[2]	$ 381	[6]
Investments, at fair value:		400		378
Investment, Identifier [Axis]: Investment Funds & Vehicles Investments and Software and Liberty Zim Co-Invest L.P., Investment Funds & Vehicles, Acquisition Date 7/21/2022
Summary of Investment Holdings
Investment cost		381	[2],[25],[26]	381	[6],[9],[10]
Investments, at fair value:		$ 400	[25],[26]	$ 378	[9],[10]
Acquisition date		Jul. 21, 2022	[3],[25],[26]	Jul. 21, 2022	[9],[10],[43]
Investment, Identifier [Axis]: Investments (180.18%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			180.18%				180.18%
Investment cost	[6]			$ 3,247,033
Investments, at fair value:				$ 3,248,046
Investment, Identifier [Axis]: Investments (183.96%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	183.96%				183.96%
Investment cost	[2]	$ 3,708,877
Investments, at fair value:		$ 3,659,978
Investment, Identifier [Axis]: Investments in Securities (179.92%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			179.92%				179.92%
Investment cost	[6]			$ 3,242,550
Investments, at fair value:				$ 3,243,438
Investment, Identifier [Axis]: Investments in Securities (183.64%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	183.64%				183.64%
Investment cost	[2]	$ 3,704,407
Investments, at fair value:		$ 3,653,758
Investment, Identifier [Axis]: Warrant Investments (1.53%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	1.53%				1.53%
Investment cost	[2]	$ 31,154
Investments, at fair value:		$ 30,500
Investment, Identifier [Axis]: Warrant Investments (1.88%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			1.88%				1.88%
Investment cost	[6]			$ 28,954
Investments, at fair value:				$ 33,969
Investment, Identifier [Axis]: Warrant Investments Diversified Financial Services (0.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.03%				0.03%
Investment cost	[6]			$ 214
Investments, at fair value:				$ 554
Investment, Identifier [Axis]: Warrant Investments and Biotechnology Tools (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.01%				0.01%
Investment cost	[2]	$ 496
Investments, at fair value:		223
Investment, Identifier [Axis]: Warrant Investments and Biotechnology Tools (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.02%				0.02%
Investment cost	[6]			$ 496
Investments, at fair value:				354
Investment, Identifier [Axis]: Warrant Investments and Biotechnology Tools and Alamar Biosciences, Inc., Warrant, Acquisition Date 6/21/2022, Series Preferred Series B
Summary of Investment Holdings
Investment cost	[6]			36
Investments, at fair value:				$ 20
Acquisition date	[43]			Jun. 21, 2022
Shares (in shares) | shares				46,197				46,197
Investment, Identifier [Axis]: Warrant Investments and Biotechnology Tools and Alamar Biosciences, Inc., Warrant, Acquisition Date 6/21/2022, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[2]	36
Investments, at fair value:		$ 122
Acquisition date	[3]	Jun. 21, 2022
Shares (in shares) | shares		75,567				75,567
Investment, Identifier [Axis]: Warrant Investments and Biotechnology Tools and PathAI, Inc., Warrant, Acquisition Date 12/23/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 460	[2],[20]	$ 460	[6],[16]
Investments, at fair value:		$ 101	[20]	$ 334	[16]
Acquisition date		Dec. 23, 2022	[3],[20]	Dec. 23, 2022	[16],[43]
Shares (in shares) | shares		53,418	[20]	53,418	[16]	53,418	[20]	53,418	[16]
Investment, Identifier [Axis]: Warrant Investments and Communications & Networking (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets		0.01%	[18]	0.01%	[17]	0.01%	[18]	0.01%	[17]
Investment cost		$ 242	[2]	$ 123	[6]
Investments, at fair value:		209		128
Investment, Identifier [Axis]: Warrant Investments and Communications & Networking and Aryaka Networks, Inc., Warrant, Acquisition Date 6/28/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		242	[2],[20]	123	[6],[16]
Investments, at fair value:		$ 209	[20]	$ 128	[16]
Acquisition date		Jun. 28, 2022	[3],[20]	Jun. 28, 2022	[16],[43]
Shares (in shares) | shares		486,097	[20]	229,611	[16]	486,097	[20]	229,611	[16]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Products (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.02%				0.02%
Investment cost	[6]			$ 611
Investments, at fair value:				325
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Products (0.04%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.04%				0.04%
Investment cost	[2]	$ 245
Investments, at fair value:		714
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Products and Gadget Guard, LLC, Warrant, Acquisition Date 6/3/2014, Series Common Stock
Summary of Investment Holdings
Investment cost		228	[2]	228	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Jun. 03, 2014	[3]	Jun. 03, 2014	[43]
Shares (in shares) | shares		1,662,441		1,662,441		1,662,441		1,662,441
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Products and The Neat Company, Warrant, Acquisition Date 8/13/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 365
Investments, at fair value:				$ 0
Acquisition date	[43]			Aug. 13, 2014
Shares (in shares) | shares				54,054				54,054
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Products and Whoop, Inc., Warrant, Acquisition Date 6/27/2018, Series Preferred Series C
Summary of Investment Holdings
Investment cost		$ 17	[2]	$ 18	[6]
Investments, at fair value:		$ 714		$ 325
Acquisition date		Jun. 27, 2018	[3]	Jun. 27, 2018	[43]
Shares (in shares) | shares		686,270		686,270		686,270		686,270
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services (0.23%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.23%				0.23%
Investment cost	[6]			$ 4,208
Investments, at fair value:				4,217
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services (0.32%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.32%				0.32%
Investment cost	[2]	$ 4,690
Investments, at fair value:		6,353
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Altumint, Inc., Warrant, Acquisition Date 10/31/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	127
Investments, at fair value:	[1]	$ 129
Acquisition date	[1],[3]	Oct. 31, 2024
Shares (in shares) | shares	[1]	1,701				1,701
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Carwow LTD, Warrant, Acquisition Date 12/14/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 164	[2],[25],[26]	164	[6],[9],[10]
Investments, at fair value:		$ 55	[25],[26]	$ 75	[9],[10]
Acquisition date		Dec. 14, 2021	[3],[25],[26]	Dec. 14, 2021	[9],[10],[43]
Shares (in shares) | shares		174,163	[25],[26]	174,163	[9],[10]	174,163	[25],[26]	174,163	[9],[10]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Carwow LTD, Warrant, Acquisition Date 2/13/2024, Series Preferred Series D-4
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 20
Investments, at fair value:	[25],[26]	$ 11
Acquisition date	[3],[25],[26]	Feb. 13, 2024
Shares (in shares) | shares	[25],[26]	109,257				109,257
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Houzz, Inc., Warrant, Acquisition Date 10/29/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 20	[2]	$ 20	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Oct. 29, 2019	[3]	Oct. 29, 2019	[43]
Shares (in shares) | shares		529,661		529,661		529,661		529,661
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Landing Holdings Inc., Warrant, Acquisition Date 3/12/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 116	[1],[2]	$ 116	[6],[12]
Investments, at fair value:		$ 115	[1]	$ 298	[12]
Acquisition date		Mar. 12, 2021	[1],[3]	Mar. 12, 2021	[12],[43]
Shares (in shares) | shares		11,806	[1]	11,806	[12]	11,806	[1]	11,806	[12]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Lendio, Inc., Warrant, Acquisition Date 3/29/2019, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 39	[2]	$ 39	[6]
Investments, at fair value:		$ 10		$ 33
Acquisition date		Mar. 29, 2019	[3]	Mar. 29, 2019	[43]
Shares (in shares) | shares		127,032		127,032		127,032		127,032
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Plentific Ltd, Warrant, Acquisition Date 10/3/2023, Series Ordinary Shares
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 60
Investments, at fair value:	[25],[26]	$ 38
Acquisition date	[3],[25],[26]	Oct. 03, 2023
Shares (in shares) | shares	[25],[26]	27,298				27,298
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Plentific Ltd, Warrant, Acquisition Date 10/3/2023, Series Ordinary shares
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 48
Investments, at fair value:	[9],[10]			$ 51
Acquisition date	[9],[10],[43]			Oct. 03, 2023
Shares (in shares) | shares	[9],[10]			19,499				19,499
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Provi, Warrant, Acquisition Date 12/22/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 166	[1],[2]	$ 166	[6],[12]
Investments, at fair value:		$ 77	[1]	$ 74	[12]
Acquisition date		Dec. 22, 2022	[1],[3]	Dec. 22, 2022	[12],[43]
Shares (in shares) | shares		117,042	[1]	117,042	[12]	117,042	[1]	117,042	[12]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Rhino Labs, Inc., Warrant, Acquisition Date 3/12/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 470	[1],[2]	$ 470	[6],[12]
Investments, at fair value:		$ 0	[1]	$ 4	[12]
Acquisition date		Mar. 12, 2021	[1],[3]	Mar. 12, 2021	[12],[43]
Shares (in shares) | shares		13,106	[1]	13,106	[12]	13,106	[1]	13,106	[12]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and SeatGeek, Inc., Warrant, Acquisition Date 6/12/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,242	[2],[20],[31]	$ 842	[6],[30]
Investments, at fair value:		$ 4,901	[20],[31]	$ 3,065	[30]
Acquisition date		Jun. 12, 2019	[3],[20],[31]	Jun. 12, 2019	[30],[43]
Shares (in shares) | shares		1,604,724	[20],[31]	1,379,761	[30]	1,604,724	[20],[31]	1,379,761	[30]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 11/14/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 57	[2]	$ 57	[6]
Investments, at fair value:		$ 28		$ 58
Acquisition date		Nov. 14, 2022	[3]	Nov. 14, 2022	[43]
Shares (in shares) | shares		1,607,143		1,607,143		1,607,143		1,607,143
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 8/23/2019, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 83	[2]	$ 83	[6]
Investments, at fair value:		$ 3		$ 5
Acquisition date		Aug. 23, 2019	[3]	Aug. 23, 2019	[43]
Shares (in shares) | shares		444,444		444,444		444,444		444,444
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 4/20/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 16	[2]	$ 16	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Apr. 20, 2020	[3]	Apr. 20, 2020	[43]
Shares (in shares) | shares		600,000		600,000		600,000		600,000
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 6/30/2016, Series Preferred Series A
Summary of Investment Holdings
Investment cost		$ 782	[2]	$ 782	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Jun. 30, 2016	[3]	Jun. 30, 2016	[43]
Shares (in shares) | shares		1,800,000		1,800,000		1,800,000		1,800,000
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 8/1/2018, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 62	[2]	$ 62	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		Aug. 01, 2018	[3]	Aug. 01, 2018	[43]
Shares (in shares) | shares		1,211,537		1,211,537		1,211,537		1,211,537
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Thumbtack, Inc., Warrant, Acquisition Date 5/1/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 985	[2]	$ 844	[6],[16]
Investments, at fair value:		$ 878		$ 515	[16]
Acquisition date		May 01, 2018	[3]	May 01, 2018	[16],[43]
Shares (in shares) | shares		343,497		267,225	[16]	343,497		267,225	[16]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Total Carwow LTD
Summary of Investment Holdings
Investment cost	[2]	$ 184
Investments, at fair value:		$ 66
Shares (in shares) | shares		283,420				283,420
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Total Skyword, Inc.
Summary of Investment Holdings
Investment cost		$ 140	[2]	$ 140	[6]
Investments, at fair value:		$ 31		$ 63
Shares (in shares) | shares		2,051,587		2,051,587		2,051,587		2,051,587
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Total Snagajob.com, Inc.
Summary of Investment Holdings
Investment cost		$ 860	[2]	$ 860	[6]
Investments, at fair value:		$ 0		$ 0
Shares (in shares) | shares		3,611,537		3,611,537		3,611,537		3,611,537
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Total Worldremit Group Limited
Summary of Investment Holdings
Investment cost		$ 155	[2]	$ 155	[6]
Investments, at fair value:		$ 95		$ 23
Shares (in shares) | shares		79,083		79,083		79,083		79,083
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Udacity, Inc., Warrant, Acquisition Date 9/25/2020, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[16]			$ 218
Investments, at fair value:	[16]			$ 0
Acquisition date	[16],[43]			Sep. 25, 2020
Shares (in shares) | shares	[16]			486,359				486,359
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Veem, Inc., Warrant, Acquisition Date 3/31/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 126	[2],[20]	$ 126	[6],[16]
Investments, at fair value:		$ 13	[20]	$ 16	[16]
Acquisition date		Mar. 31, 2022	[3],[20]	Mar. 31, 2022	[16],[43]
Shares (in shares) | shares		98,428	[20]	98,428	[16]	98,428	[20]	98,428	[16]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 2/11/2021, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 129	[2],[25],[26]	$ 129	[6],[9],[10],[16],[30]
Investments, at fair value:		$ 95	[25],[26]	$ 23	[9],[10],[16],[30]
Acquisition date		Feb. 11, 2021	[3],[25],[26]	Feb. 11, 2021	[9],[10],[16],[30],[43]
Shares (in shares) | shares		77,215	[25],[26]	77,215	[9],[10],[16],[30]	77,215	[25],[26]	77,215	[9],[10],[16],[30]
Investment, Identifier [Axis]: Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 8/27/2021, Series Preferred Series E
Summary of Investment Holdings
Investment cost		$ 26	[2],[25],[26]	$ 26	[6],[9],[10],[30]
Investments, at fair value:		$ 0	[25],[26]	$ 0	[9],[10],[30]
Acquisition date		Aug. 27, 2021	[3],[25],[26]	Aug. 27, 2021	[9],[10],[30],[43]
Shares (in shares) | shares		1,868	[25],[26]	1,868	[9],[10],[30]	1,868	[25],[26]	1,868	[9],[10],[30]
Investment, Identifier [Axis]: Warrant Investments and Diversified Financial Services (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.02%				0.02%
Investment cost	[2]	$ 214
Investments, at fair value:		460
Investment, Identifier [Axis]: Warrant Investments and Diversified Financial Services and Next Insurance, Inc., Warrant, Acquisition Date 2/3/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		214	[2]	$ 214	[6]
Investments, at fair value:		$ 460		$ 554
Acquisition date		Feb. 03, 2023	[3]	Feb. 03, 2023	[43]
Shares (in shares) | shares		522,930		522,930		522,930		522,930
Investment, Identifier [Axis]: Warrant Investments and Drug Delivery (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0%				0%
Investment cost	[6]			$ 392
Investments, at fair value:				0
Investment, Identifier [Axis]: Warrant Investments and Drug Delivery and Aerami Therapeutics Holdings, Inc., Warrant, Acquisition Date 6/1/2016, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			0
Investments, at fair value:				$ 0
Acquisition date	[43]			Jun. 01, 2016
Shares (in shares) | shares				67,069				67,069
Investment, Identifier [Axis]: Warrant Investments and Drug Delivery and BioQ Pharma Incorporated, Warrant, Acquisition Date 10/27/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 2
Investments, at fair value:				$ 0
Acquisition date	[43]			Oct. 27, 2014
Shares (in shares) | shares				459,183				459,183
Investment, Identifier [Axis]: Warrant Investments and Drug Delivery and PDS Biotechnology Corporation, Warrant, Acquisition Date 8/28/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 390
Investments, at fair value:	[43]			$ 0
Acquisition date	[43]			Aug. 28, 2014
Shares (in shares) | shares	[43]			3,929				3,929
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development (0.35%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.35%				0.35%
Investment cost	[2]	$ 8,404
Investments, at fair value:		6,996
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development (0.46%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.46%				0.46%
Investment cost	[6]			$ 7,517
Investments, at fair value:				8,302
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and ADMA Biologics, Inc., Warrant, Acquisition Date 2/24/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			166
Investments, at fair value:	[43]			$ 11
Acquisition date	[43]			Feb. 24, 2014
Shares (in shares) | shares	[43]			58,000				58,000
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Akero Therapeutics, Inc., Warrant, Acquisition Date 6/15/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		330	[2],[3],[25]	$ 175	[6],[9],[43]
Investments, at fair value:		$ 519	[3],[25]	$ 335	[9],[43]
Acquisition date		Jun. 15, 2022	[3],[25]	Jun. 15, 2022	[9],[43]
Shares (in shares) | shares		32,129	[3],[25]	22,949	[9],[43]	32,129	[3],[25]	22,949	[9],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and AmplifyBio, LLC, Warrant, Acquisition Date 12/27/2022, Series Class A Units
Summary of Investment Holdings
Investment cost	[6],[12]			$ 237
Investments, at fair value:	[12]			$ 184
Acquisition date	[12],[43]			Dec. 27, 2022
Shares (in shares) | shares	[12]			69,239				69,239
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Axsome Therapeutics, Inc., Warrant, Acquisition Date 9/25/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,290	[2],[3],[20],[25],[31]	$ 1,290	[6],[9],[16],[30],[43]
Investments, at fair value:		$ 1,528	[3],[20],[25],[31]	$ 1,657	[9],[16],[30],[43]
Acquisition date		Sep. 25, 2020	[3],[20],[25],[31]	Sep. 25, 2020	[9],[16],[30],[43]
Shares (in shares) | shares		61,004	[3],[20],[25],[31]	61,004	[9],[16],[30],[43]	61,004	[3],[20],[25],[31]	61,004	[9],[16],[30],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and COMPASS Pathways plc, Warrant, Acquisition Date 6/30/2023, Series Ordinary Shares
Summary of Investment Holdings
Investment cost		$ 278	[2],[3],[25],[26]	$ 278	[6],[9],[10],[43]
Investments, at fair value:		$ 48	[3],[25],[26]	$ 285	[9],[10],[43]
Acquisition date		Jun. 30, 2023	[3],[25],[26]	Jun. 30, 2023	[9],[10],[43]
Shares (in shares) | shares		75,376	[3],[25],[26]	75,376	[9],[10],[43]	75,376	[3],[25],[26]	75,376	[9],[10],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Cellarity, Inc., Warrant, Acquisition Date 12/8/2021, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 287	[1],[2]	$ 287	[6],[12]
Investments, at fair value:		$ 103	[1]	$ 201	[12]
Acquisition date		Dec. 08, 2021	[1],[3]	Dec. 08, 2021	[12],[43]
Shares (in shares) | shares		100,000	[1]	100,000	[12]	100,000	[1]	100,000	[12]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Century Therapeutics, Inc., Warrant, Acquisition Date 9/14/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 37	[2],[3]	$ 37	[6],[43]
Investments, at fair value:		$ 0	[3]	$ 1	[43]
Acquisition date		Sep. 14, 2020	[3]	Sep. 14, 2020	[43]
Shares (in shares) | shares		16,112	[3]	16,112	[43]	16,112	[3]	16,112	[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Cuervo, Inc., Warrant, Acquisition Date 6/9/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[12]			$ 233
Investments, at fair value:	[12]			$ 251
Acquisition date	[12],[43]			Jun. 09, 2023
Shares (in shares) | shares	[12]			95,221				95,221
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Curevo, Inc., Warrant, Acquisition Date 6/9/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	$ 233
Investments, at fair value:	[1]	$ 154
Acquisition date	[1],[3]	Jun. 09, 2023
Shares (in shares) | shares	[1]	95,221				95,221
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Dermavant Sciences Ltd., Warrant, Acquisition Date 5/31/2019, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 101
Investments, at fair value:	[9],[10]			$ 7
Acquisition date	[9],[10],[43]			May 31, 2019
Shares (in shares) | shares	[9],[10]			223,642				223,642
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Evofem Biosciences, Inc., Warrant, Acquisition Date 6/11/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 266
Investments, at fair value:	[43]			$ 0
Acquisition date	[43]			Jun. 11, 2014
Shares (in shares) | shares	[43]			3				3
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Fresh Tracks Therapeutics, Inc. (p.k.a. Brickell Biotech, Inc.), Warrant, Acquisition Date 2/18/2016, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 119
Investments, at fair value:	[43]			$ 0
Acquisition date	[43]			Feb. 18, 2016
Shares (in shares) | shares	[43]			201				201
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Fresh Tracks Therapeutics, Inc., Warrant, Acquisition Date 2/18/2016, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3]	$ 119
Investments, at fair value:	[3]	$ 0
Acquisition date	[3]	Feb. 18, 2016
Shares (in shares) | shares	[3]	201				201
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Heron Therapeutics, Inc., Warrant, Acquisition Date 8/9/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 228	[1],[2],[3]	$ 228	[6],[12],[43]
Investments, at fair value:		$ 166	[1],[3]	$ 223	[12],[43]
Acquisition date		Aug. 09, 2023	[1],[3]	Aug. 09, 2023	[12],[43]
Shares (in shares) | shares		238,095	[1],[3]	238,095	[12],[43]	238,095	[1],[3]	238,095	[12],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Kineta, Inc., Warrant, Acquisition Date 12/20/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 110	[2],[3]	$ 110	[6],[43]
Investments, at fair value:		$ 0	[3]	$ 0	[43]
Acquisition date		Dec. 20, 2019	[3]	Dec. 20, 2019	[43]
Shares (in shares) | shares		2,202	[3]	2,202	[43]	2,202	[3]	2,202	[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Kura Oncology, Inc., Warrant, Acquisition Date 11/2/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 88	[1],[2],[3],[25]	$ 88	[6],[9],[12],[43]
Investments, at fair value:		$ 16	[1],[3],[25]	$ 63	[9],[12],[43]
Acquisition date		Nov. 02, 2022	[1],[3],[25]	Nov. 02, 2022	[9],[12],[43]
Shares (in shares) | shares		14,342	[1],[3],[25]	14,342	[9],[12],[43]	14,342	[1],[3],[25]	14,342	[9],[12],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Warrant, Acquisition Date 5/9/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 570	[2],[3],[25]	$ 570	[6],[9],[43]
Investments, at fair value:		$ 2,133	[3],[25]	$ 1,842	[9],[43]
Acquisition date		May 09, 2022	[3],[25]	May 09, 2022	[9],[43]
Shares (in shares) | shares		13,229	[3],[25]	13,229	[9],[43]	13,229	[3],[25]	13,229	[9],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Warrant, Acquisition Date 9/17/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 848	[1],[2],[3],[20],[25],[31]	$ 848	[6],[9],[12],[16],[30],[43]
Investments, at fair value:		$ 22	[1],[3],[20],[25],[31]	$ 68	[9],[12],[16],[30],[43]
Acquisition date		Sep. 17, 2021	[1],[3],[20],[25],[31]	Sep. 17, 2021	[9],[12],[16],[30],[43]
Shares (in shares) | shares		64,687	[1],[3],[20],[25],[31]	64,687	[9],[12],[16],[30],[43]	64,687	[1],[3],[20],[25],[31]	64,687	[9],[12],[16],[30],[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Redshift Bioanalytics, Inc., Warrant, Acquisition Date 3/23/2022, Series Preferred Series E
Summary of Investment Holdings
Investment cost		$ 20	[1],[2]	$ 20	[6],[12]
Investments, at fair value:		$ 22	[1]	$ 6	[12]
Acquisition date		Mar. 23, 2022	[1],[3]	Mar. 23, 2022	[12],[43]
Shares (in shares) | shares		475,510	[1]	475,510	[12]	475,510	[1]	475,510	[12]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Scynexis, Inc., Warrant, Acquisition Date 5/14/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 296	[2],[3]	$ 296	[6],[43]
Investments, at fair value:		$ 2	[3]	$ 28	[43]
Acquisition date		May 14, 2021	[3]	May 14, 2021	[43]
Shares (in shares) | shares		106,035	[3]	106,035	[43]	106,035	[3]	106,035	[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and SynOx Therapeutics Limited, Warrant, Acquisition Date 4/18/2024, Series Preferred Series B
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 83
Investments, at fair value:	[25],[26]	$ 76
Acquisition date	[3],[25],[26]	Apr. 18, 2024
Shares (in shares) | shares	[25],[26]	251,195				251,195
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and TG Therapeutics, Inc., Warrant, Acquisition Date 12/30/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[25]	$ 721
Investments, at fair value:	[3],[25]	$ 1,730
Acquisition date	[3],[25]	Dec. 30, 2021
Shares (in shares) | shares	[3],[25]	117,168				117,168
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and TG Therapeutics, Inc., Warrant, Acquisition Date 2/28/2019, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[16],[43]			$ 1,284
Investments, at fair value:	[9],[16],[43]			$ 2,583
Acquisition date	[9],[16],[43]			Feb. 28, 2019
Shares (in shares) | shares	[9],[16],[43]			264,226				264,226
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Valo Health, LLC, Warrant, Acquisition Date 6/15/2020, Series Common Units
Summary of Investment Holdings
Investment cost	[2]	$ 256
Investments, at fair value:		$ 39
Acquisition date	[3]	Jun. 15, 2020
Shares (in shares) | shares		102,216				102,216
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and Valo Health, LLC, Warrant, Acquisition Date 6/15/2020,Series Common Units
Summary of Investment Holdings
Investment cost	[6]			$ 256
Investments, at fair value:				$ 153
Acquisition date	[43]			Jun. 15, 2020
Shares (in shares) | shares				102,216				102,216
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and X4 Pharmaceuticals, Inc., Warrant, Acquisition Date 3/18/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 510	[2],[3]	$ 510	[6],[43]
Investments, at fair value:		$ 185	[3]	$ 225	[43]
Acquisition date		Mar. 18, 2019	[3]	Mar. 18, 2019	[43]
Shares (in shares) | shares		1,392,787	[3]	1,392,787	[43]	1,392,787	[3]	1,392,787	[43]
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and bluebird bio, Inc., Warrant, Acquisition Date 3/15/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 1,744
Investments, at fair value:		$ 0
Acquisition date	[3]	Mar. 15, 2024
Shares (in shares) | shares		111,206				111,206
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and enGene, Inc., Warrant, Acquisition Date 12/22/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[10],[43]			$ 118
Investments, at fair value:	[9],[10],[43]			$ 179
Acquisition date	[9],[10],[43]			Dec. 22, 2023
Shares (in shares) | shares	[9],[10],[43]			43,689				43,689
Investment, Identifier [Axis]: Warrant Investments and Drug Discovery & Development and enGene,Inc, Warrant, Acquisition Date 12/22/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[25],[26]	$ 118
Investments, at fair value:	[3],[25],[26]	$ 102
Acquisition date	[3],[25],[26]	Dec. 22, 2023
Shares (in shares) | shares	[3],[25],[26]	43,689				43,689
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.01%				0.01%
Investment cost	[2]	$ 692
Investments, at fair value:		264
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.02%				0.02%
Investment cost	[6]			$ 692
Investments, at fair value:				391
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware and 908 Devices, Inc., Warrant, Acquisition Date 3/15/2017, Series Common Stock
Summary of Investment Holdings
Investment cost		101	[2],[3]	101	[6],[43]
Investments, at fair value:		$ 1	[3]	$ 175	[43]
Acquisition date		Mar. 15, 2017	[3]	Mar. 15, 2017	[43]
Shares (in shares) | shares		49,078	[3]	49,078	[43]	49,078	[3]	49,078	[43]
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware and Locus Robotics Corp., Warrant, Acquisition Date 6/21/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 34	[2]	$ 34	[6]
Investments, at fair value:		$ 51		$ 102
Acquisition date		Jun. 21, 2022	[3]	Jun. 21, 2022	[43]
Shares (in shares) | shares		8,503		8,503		8,503		8,503
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/08/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 557
Investments, at fair value:		$ 212
Acquisition date	[3]	Nov. 08, 2021
Shares (in shares) | shares		622,255				622,255
Investment, Identifier [Axis]: Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/8/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 557
Investments, at fair value:				$ 114
Acquisition date	[43]			Nov. 08, 2021
Shares (in shares) | shares				622,255				622,255
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other (0.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.03%				0.03%
Investment cost	[6]			$ 750
Investments, at fair value:				596
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other (0.11%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.11%				0.11%
Investment cost	[2]	$ 1,863
Investments, at fair value:		2,099
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Curana Health Holdings, LLC, Warrant, Acquisition Date 1/4/2024, Series Common Units
Summary of Investment Holdings
Investment cost	[2]	156
Investments, at fair value:		$ 492
Acquisition date	[3]	Jan. 04, 2024
Shares (in shares) | shares		447,410				447,410
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Modern Life, Inc, Warrant, Acquisition Date 3/30/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			164
Investments, at fair value:				$ 165
Acquisition date	[43]			Mar. 30, 2023
Shares (in shares) | shares				37,618				37,618
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Modern Life, Inc., Warrant, Acquisition Date 3/30/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 210
Investments, at fair value:		$ 169
Acquisition date	[3]	Mar. 30, 2023
Shares (in shares) | shares		52,665				52,665
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and NeueHealth, Inc., Warrant, Acquisition Date 6/21/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[20]	$ 716
Investments, at fair value:	[3],[20]	$ 1,032
Acquisition date	[3],[20]	Jun. 21, 2024
Shares (in shares) | shares	[3],[20]	185,625				185,625
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Recover Together, Inc., Warrant, Acquisition Date 7/3/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 382	[2]	$ 382	[6]
Investments, at fair value:		$ 79		$ 327
Acquisition date		Jul. 03, 2023	[3]	Jul. 03, 2023	[43]
Shares (in shares) | shares		194,830		194,830		194,830		194,830
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Strive Health Holdings, LLC, Warrant, Warrant, Acquisition Date 9/28/2023, Series Common Units
Summary of Investment Holdings
Investment cost	[6],[12]			$ 83
Investments, at fair value:	[12]			$ 95
Acquisition date	[12],[43]			Sep. 28, 2023
Shares (in shares) | shares	[12]			51,760				51,760
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Strive Health Holdings, LLC., Warrant, Acquisition Date 9/28/2023, Series Common Units
Summary of Investment Holdings
Investment cost	[1],[2]	$ 278
Investments, at fair value:	[1]	$ 325
Acquisition date	[1],[3]	Sep. 28, 2023
Shares (in shares) | shares	[1]	129,400				129,400
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Vida Health, Inc., Warrant, Acquisition Date 3/28/2022, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 121
Investments, at fair value:				$ 9
Acquisition date	[43]			Mar. 28, 2022
Shares (in shares) | shares				192,431				192,431
Investment, Identifier [Axis]: Warrant Investments and Healthcare Services, Other and Vida Health, Inc., Warrant, Acquisition Date 3/28/2022, Series Preferred Series E
Summary of Investment Holdings
Investment cost	[2]	$ 121
Investments, at fair value:		$ 2
Acquisition date	[3]	Mar. 28, 2022
Shares (in shares) | shares		192,431				192,431
Investment, Identifier [Axis]: Warrant Investments and Information Services (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0%				0%
Investment cost	[2]	$ 413
Investments, at fair value:		13
Investment, Identifier [Axis]: Warrant Investments and Information Services (0.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.03%				0.03%
Investment cost	[6]			$ 694
Investments, at fair value:				486
Investment, Identifier [Axis]: Warrant Investments and Information Services and Capella Space Corp., Warrant, Acquisition Date 10/21/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[12]			207
Investments, at fair value:	[12]			$ 33
Acquisition date	[12],[43]			Oct. 21, 2021
Shares (in shares) | shares	[12]			176,200				176,200
Investment, Identifier [Axis]: Warrant Investments and Information Services and INMOBI Inc., Warrant, Acquisition Date 11/19/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 82
Investments, at fair value:	[9],[10]			$ 0
Acquisition date	[9],[10],[43]			Nov. 19, 2014
Shares (in shares) | shares	[9],[10]			65,587				65,587
Investment, Identifier [Axis]: Warrant Investments and Information Services and NetBase Quid, Inc. (p.k.a NetBase Solutions), Warrant, Acquisition Date 8/22/2017, Series Preferred Series 1
Summary of Investment Holdings
Investment cost	[2]	356
Investments, at fair value:		$ 0
Acquisition date	[3]	Aug. 22, 2017
Shares (in shares) | shares		60,000				60,000
Investment, Identifier [Axis]: Warrant Investments and Information Services and NetBase Solutions, Inc., Warrant, Acquisition Date 8/22/2017, Series Preferred Series 1
Summary of Investment Holdings
Investment cost	[6]			$ 356
Investments, at fair value:				$ 362
Acquisition date	[43]			Aug. 22, 2017
Shares (in shares) | shares				60,000				60,000
Investment, Identifier [Axis]: Warrant Investments and Information Services and Signal Media Limited, Warrant, Acquisition Date 6/29/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 57	[2],[25],[26]	$ 49	[6],[9],[10]
Investments, at fair value:		$ 13	[25],[26]	$ 91	[9],[10]
Acquisition date		Jun. 29, 2022	[3],[25],[26]	Jun. 29, 2022	[9],[10],[43]
Shares (in shares) | shares		129,638	[25],[26]	113,828	[9],[10]	129,638	[25],[26]	113,828	[9],[10]
Investment, Identifier [Axis]: Warrant Investments and Manufacturing Technology (0.06%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.06%				0.06%
Investment cost	[2]	$ 1,065
Investments, at fair value:		1,162
Investment, Identifier [Axis]: Warrant Investments and Manufacturing Technology (0.17%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.17%				0.17%
Investment cost	[6]			$ 1,112
Investments, at fair value:				3,000
Investment, Identifier [Axis]: Warrant Investments and Manufacturing Technology and Bright Machines, Inc., Warrant, Acquisition Date 3/31/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		537	[2]	537	[6]
Investments, at fair value:		$ 871		$ 279
Acquisition date		Mar. 31, 2022	[3]	Mar. 31, 2022	[43]
Shares (in shares) | shares		392,308		392,308		392,308		392,308
Investment, Identifier [Axis]: Warrant Investments and Manufacturing Technology and MacroFab, Inc., Warrant, Acquisition Date 3/23/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 528	[2]	$ 528	[6]
Investments, at fair value:		$ 291		$ 677
Acquisition date		Mar. 23, 2022	[3]	Mar. 23, 2022	[43]
Shares (in shares) | shares		1,111,111		1,111,111		1,111,111		1,111,111
Investment, Identifier [Axis]: Warrant Investments and Manufacturing Technology and Xometry, Inc., Warrant, Acquisition Date 5/9/2018, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 47
Investments, at fair value:	[43]			$ 2,044
Acquisition date	[43]			May 09, 2018
Shares (in shares) | shares	[43]			87,784				87,784
Investment, Identifier [Axis]: Warrant Investments and Media/Content/Info (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0%				0%
Investment cost	[2]	$ 67
Investments, at fair value:		63
Investment, Identifier [Axis]: Warrant Investments and Media/Content/Info (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.01%				0.01%
Investment cost	[6]			$ 67
Investments, at fair value:				235
Investment, Identifier [Axis]: Warrant Investments and Media/Content/Info and Fever Labs, Inc., Warrant, Acquisition Date 12/30/2022, Series Preferred Series E-1
Summary of Investment Holdings
Investment cost		67	[2]	67	[6]
Investments, at fair value:		$ 63		$ 235
Acquisition date		Dec. 30, 2022	[3]	Dec. 30, 2022	[43]
Shares (in shares) | shares		369,370		369,370		369,370		369,370
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment (0.01%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.01%				0.01%
Investment cost	[6]			$ 956
Investments, at fair value:				262
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment (0.03%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.03%				0.03%
Investment cost	[2]	$ 1,281
Investments, at fair value:		507
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Intuity Medical, Inc., Warrant, Acquisition Date 12/29/2017, Series Preferred Series B-1
Summary of Investment Holdings
Investment cost	[6]			294
Investments, at fair value:				$ 0
Acquisition date	[43]			Dec. 29, 2017
Shares (in shares) | shares				3,076,323				3,076,323
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Orchestra BioMed Holdings, Inc., Warrant, Acquisition Date 11/6/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2],[3],[39]	180
Investments, at fair value:	[1],[3],[39]	$ 102
Acquisition date	[1],[3],[39]	Nov. 06, 2024
Shares (in shares) | shares	[1],[3],[39]	52,264				52,264
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Outset Medical Inc, Warrant, Acquisition Date 9/27/2013, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 401
Investments, at fair value:	[43]			$ 78
Acquisition date	[43]			Sep. 27, 2013
Shares (in shares) | shares	[43]			62,794				62,794
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Outset Medical, Inc., Warrant, Acquisition Date 9/27/2013, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3]	$ 401
Investments, at fair value:	[3]	$ 7
Acquisition date	[3]	Sep. 27, 2013
Shares (in shares) | shares	[3]	62,794				62,794
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Senseonics Holdings, Inc, Warrant, Acquisition Date 9/8/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			$ 200
Investments, at fair value:	[43]			$ 184
Acquisition date	[43]			Sep. 08, 2023
Shares (in shares) | shares	[43]			728,317				728,317
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Senseonics Holdings, Inc., Warrant, Acquisition Date 9/8/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3]	$ 276
Investments, at fair value:	[3]	$ 203
Acquisition date	[3]	Sep. 08, 2023
Shares (in shares) | shares	[3]	1,032,718				1,032,718
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Sight Sciences, Inc., Warrant, Acquisition Date 1/22/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2],[3],[39]	$ 363
Investments, at fair value:	[3],[39]	$ 195
Acquisition date	[3],[39]	Jan. 22, 2024
Shares (in shares) | shares	[3],[39]	113,247				113,247
Investment, Identifier [Axis]: Warrant Investments and Medical Devices & Equipment and Tela Bio, Inc., Warrant, Acquisition Date 3/31/2017, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 61	[2],[3]	$ 61	[6],[43]
Investments, at fair value:		$ 0	[3]	$ 0	[43]
Acquisition date		Mar. 31, 2017	[3]	Mar. 31, 2017	[43]
Shares (in shares) | shares		15,712	[3]	15,712	[43]	15,712	[3]	15,712	[43]
Investment, Identifier [Axis]: Warrant Investments and Semiconductors (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.02%				0.02%
Investment cost	[2]	$ 99
Investments, at fair value:		494
Investment, Identifier [Axis]: Warrant Investments and Semiconductors (0.04%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.04%				0.04%
Investment cost	[6]			$ 99
Investments, at fair value:				811
Investment, Identifier [Axis]: Warrant Investments and Semiconductors and Achronix Semiconductor Corporation, Warrant, Acquisition Date 6/26/2015, Series Preferred Series D-2
Summary of Investment Holdings
Investment cost		99	[2]	99	[6]
Investments, at fair value:		$ 494		$ 811
Acquisition date		Jun. 26, 2015	[3]	Jun. 26, 2015	[43]
Shares (in shares) | shares		750,000		750,000		750,000		750,000
Investment, Identifier [Axis]: Warrant Investments and Software (0.53%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.53%				0.53%
Investment cost	[2]	$ 10,554
Investments, at fair value:		10,472
Investment, Identifier [Axis]: Warrant Investments and Software (0.75%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.75%				0.75%
Investment cost	[6]			$ 10,445
Investments, at fair value:				13,549
Investment, Identifier [Axis]: Warrant Investments and Software and Aria Systems, Inc., Warrant, Acquisition Date 5/22/2015, Series Preferred Series G
Summary of Investment Holdings
Investment cost		74	[2]	74	[6]
Investments, at fair value:		$ 0		$ 0
Acquisition date		May 22, 2015	[3]	May 22, 2015	[43]
Shares (in shares) | shares		231,535		231,535		231,535		231,535
Investment, Identifier [Axis]: Warrant Investments and Software and Automation Anywhere, Inc., Warrant, Acquisition Date 9/23/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 448	[2]	$ 448	[6]
Investments, at fair value:		$ 421		$ 430
Acquisition date		Sep. 23, 2022	[3]	Sep. 23, 2022	[43]
Shares (in shares) | shares		254,778		254,778		254,778		254,778
Investment, Identifier [Axis]: Warrant Investments and Software and Bitsight Technologies, Inc., Warrant, Acquisition Date 11/18/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 284	[2]	$ 284	[6]
Investments, at fair value:		$ 442		$ 666
Acquisition date		Nov. 18, 2020	[3]	Nov. 18, 2020	[43]
Shares (in shares) | shares		29,691		29,691		29,691		29,691
Investment, Identifier [Axis]: Warrant Investments and Software and Brain Corporation, Warrant, Acquisition Date 10/4/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 215	[2]	$ 165	[6],[12]
Investments, at fair value:		$ 84		$ 47	[12]
Acquisition date		Oct. 04, 2021	[3]	Oct. 04, 2021	[12],[43]
Shares (in shares) | shares		435,396		194,629	[12]	435,396		194,629	[12]
Investment, Identifier [Axis]: Warrant Investments and Software and CloudBolt Software, Inc., Warrant, Acquisition Date 9/30/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 117	[2]	$ 117	[6]
Investments, at fair value:		$ 9		$ 12
Acquisition date		Sep. 30, 2020	[3]	Sep. 30, 2020	[43]
Shares (in shares) | shares		211,342		211,342		211,342		211,342
Investment, Identifier [Axis]: Warrant Investments and Software and Cloudian, Inc., Warrant, Acquisition Date 11/6/2018, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 71	[2]	$ 71	[6]
Investments, at fair value:		$ 0		$ 29
Acquisition date		Nov. 06, 2018	[3]	Nov. 06, 2018	[43]
Shares (in shares) | shares		477,454		477,454		477,454		477,454
Investment, Identifier [Axis]: Warrant Investments and Software and Cloudpay, Inc., Warrant, Acquisition Date 4/10/2018, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 54	[2],[25],[26]	$ 54	[6],[9],[10]
Investments, at fair value:		$ 908	[25],[26]	$ 844	[9],[10]
Acquisition date		Apr. 10, 2018	[3],[25],[26]	Apr. 10, 2018	[9],[10],[43]
Shares (in shares) | shares		6,763	[25],[26]	6,763	[9],[10]	6,763	[25],[26]	6,763	[9],[10]
Investment, Identifier [Axis]: Warrant Investments and Software and Coronet Cyber Security Ltd., Warrant, Acquisition Date 9/26/2024, Series Ordinary Shares
Summary of Investment Holdings
Investment cost	[2]	$ 254
Investments, at fair value:		$ 266
Acquisition date	[3]	Sep. 26, 2024
Shares (in shares) | shares		39,183				39,183
Investment, Identifier [Axis]: Warrant Investments and Software and Couchbase, Inc., Warrant, Acquisition Date 4/25/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 462	[2],[3]	$ 462	[6],[43]
Investments, at fair value:		$ 686	[3]	$ 1,225	[43]
Acquisition date		Apr. 25, 2019	[3]	Apr. 25, 2019	[43]
Shares (in shares) | shares		105,350	[3]	105,350	[43]	105,350	[3]	105,350	[43]
Investment, Identifier [Axis]: Warrant Investments and Software and Cutover, Inc., Warrant, Acquisition Date 9/21/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 26	[2],[20],[25],[26]	$ 26	[6],[9],[10],[16]
Investments, at fair value:		$ 83	[20],[25],[26]	$ 62	[9],[10],[16]
Acquisition date		Sep. 21, 2022	[3],[20],[25],[26]	Sep. 21, 2022	[9],[10],[16],[43]
Shares (in shares) | shares		102,898	[20],[25],[26]	102,898	[9],[10],[16]	102,898	[20],[25],[26]	102,898	[9],[10],[16]
Investment, Identifier [Axis]: Warrant Investments and Software and DNAnexus, Inc., Warrant, Acquisition Date 3/21/2014, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[6]			$ 97
Investments, at fair value:				$ 47
Acquisition date	[43]			Mar. 21, 2014
Shares (in shares) | shares				909,091				909,091
Investment, Identifier [Axis]: Warrant Investments and Software and Dashlane, Inc., Warrant, Acquisition Date 3/11/2019, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 461	[2]	$ 461	[6]
Investments, at fair value:		$ 1,102		$ 258
Acquisition date		Mar. 11, 2019	[3]	Mar. 11, 2019	[43]
Shares (in shares) | shares		770,838		770,838		770,838		770,838
Investment, Identifier [Axis]: Warrant Investments and Software and Delphix Corp., Warrant, Acquisition Date 10/8/2019, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 1,594
Investments, at fair value:				$ 3,801
Acquisition date	[43]			Oct. 08, 2019
Shares (in shares) | shares				718,898				718,898
Investment, Identifier [Axis]: Warrant Investments and Software and Demandbase, Inc., Warrant, Acquisition Date 8/2/2021, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 545	[2]	$ 545	[6]
Investments, at fair value:		$ 234		$ 396
Acquisition date		Aug. 02, 2021	[3]	Aug. 02, 2021	[43]
Shares (in shares) | shares		727,047		727,047		727,047		727,047
Investment, Identifier [Axis]: Warrant Investments and Software and Dragos, Inc., Warrant, Acquisition Date 6/28/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,575	[2]	$ 1,452	[6]
Investments, at fair value:		$ 984		$ 1,207
Acquisition date		Jun. 28, 2023	[3]	Jun. 28, 2023	[43]
Shares (in shares) | shares		57,528		49,309		57,528		49,309
Investment, Identifier [Axis]: Warrant Investments and Software and DroneDeploy, Inc., Warrant, Acquisition Date 6/30/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 278	[2]	$ 278	[6]
Investments, at fair value:		$ 417		$ 413
Acquisition date		Jun. 30, 2022	[3]	Jun. 30, 2022	[43]
Shares (in shares) | shares		95,911		95,911		95,911		95,911
Investment, Identifier [Axis]: Warrant Investments and Software and Earnix, Inc., Warrant, Acquisition Date 6/6/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 220
Investments, at fair value:		$ 327
Acquisition date	[3]	Jun. 06, 2024
Shares (in shares) | shares		20,762				20,762
Investment, Identifier [Axis]: Warrant Investments and Software and Eigen Technologies Ltd., Warrant, Acquisition Date 4/13/2022, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[9],[10]			$ 8
Investments, at fair value:	[9],[10]			$ 4
Acquisition date	[9],[10],[43]			Apr. 13, 2022
Shares (in shares) | shares	[9],[10]			522				522
Investment, Identifier [Axis]: Warrant Investments and Software and Elation Health, Inc., Warrant, Acquisition Date 9/12/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 583	[2]	$ 583	[6]
Investments, at fair value:		$ 236		$ 188
Acquisition date		Sep. 12, 2022	[3]	Sep. 12, 2022	[43]
Shares (in shares) | shares		362,837		362,837		362,837		362,837
Investment, Identifier [Axis]: Warrant Investments and Software and First Insight, Inc., Warrant, Acquisition Date 5/10/2018, Series Preferred Series B
Summary of Investment Holdings
Investment cost		$ 96	[2]	$ 96	[6]
Investments, at fair value:		$ 33		$ 77
Acquisition date		May 10, 2018	[3]	May 10, 2018	[43]
Shares (in shares) | shares		75,917		75,917		75,917		75,917
Investment, Identifier [Axis]: Warrant Investments and Software and Fulfil Solutions, Inc., Warrant, Acquisition Date 7/29/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 325	[2]	$ 325	[6]
Investments, at fair value:		$ 274		$ 456
Acquisition date		Jul. 29, 2022	[3]	Jul. 29, 2022	[43]
Shares (in shares) | shares		84,995		84,995		84,995		84,995
Investment, Identifier [Axis]: Warrant Investments and Software and Harness, Inc., Warrant, Acquisition Date 3/12/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 534
Investments, at fair value:		$ 632
Acquisition date	[3]	Mar. 12, 2024
Shares (in shares) | shares		193,618				193,618
Investment, Identifier [Axis]: Warrant Investments and Software and Kore, ai, Inc., Warrant, Acquisition Date 3/31/2023, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[6]			$ 208
Investments, at fair value:				$ 243
Acquisition date	[43]			Mar. 31, 2023
Shares (in shares) | shares				64,293				64,293
Investment, Identifier [Axis]: Warrant Investments and Software and Kore.ai, Inc., Warrant, Acquisition Date 3/31/2023, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[2]	$ 208
Investments, at fair value:		$ 142
Acquisition date	[3]	Mar. 31, 2023
Shares (in shares) | shares		64,293				64,293
Investment, Identifier [Axis]: Warrant Investments and Software and Leapwork ApS, Warrant, Acquisition Date 1/23/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 39	[2],[20],[25],[26]	$ 16	[6],[9],[10],[16]
Investments, at fair value:		$ 35	[20],[25],[26]	$ 35	[9],[10],[16]
Acquisition date		Jan. 23, 2023	[3],[20],[25],[26]	Jan. 23, 2023	[9],[10],[16],[43]
Shares (in shares) | shares		93,211	[20],[25],[26]	39,948	[9],[10],[16]	93,211	[20],[25],[26]	39,948	[9],[10],[16]
Investment, Identifier [Axis]: Warrant Investments and Software and Lightbend, Inc., Warrant, Acquisition Date 2/14/2018, Series Preferred Series D
Summary of Investment Holdings
Investment cost	[6]			$ 131
Investments, at fair value:				$ 49
Acquisition date	[43]			Feb. 14, 2018
Shares (in shares) | shares				89,685				89,685
Investment, Identifier [Axis]: Warrant Investments and Software and Lightbend, Inc., Warrant, Acquisition Date 2/14/2018, Series Preferred Series LB-2
Summary of Investment Holdings
Investment cost	[2]	$ 131
Investments, at fair value:		$ 26
Acquisition date	[3]	Feb. 14, 2018
Shares (in shares) | shares		86,984				86,984
Investment, Identifier [Axis]: Warrant Investments and Software and Mixpanel, Inc., Warrant, Acquisition Date 9/30/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 252	[2]	$ 252	[6]
Investments, at fair value:		$ 264		$ 306
Acquisition date		Sep. 30, 2020	[3]	Sep. 30, 2020	[43]
Shares (in shares) | shares		82,362		82,362		82,362		82,362
Investment, Identifier [Axis]: Warrant Investments and Software and Morphisec Information Security 2014 Ltd., Warrant, Acquisition Date 10/1/2024, Series Ordinary Shares
Summary of Investment Holdings
Investment cost	[2],[25],[26]	$ 104
Investments, at fair value:	[25],[26]	$ 108
Acquisition date	[3],[25],[26]	Oct. 01, 2024
Shares (in shares) | shares	[25],[26]	200,115				200,115
Investment, Identifier [Axis]: Warrant Investments and Software and Onna TechnologiesInc, Warrant, Acquisition Date 7/5/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 60
Investments, at fair value:				$ 39
Acquisition date	[43]			Jul. 05, 2023
Shares (in shares) | shares				172,867				172,867
Investment, Identifier [Axis]: Warrant Investments and Software and Pindrop Security, Inc., Warrant, Acquisition Date 6/26/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	$ 494
Investments, at fair value:	[1]	$ 496
Acquisition date	[1],[3]	Jun. 26, 2024
Shares (in shares) | shares	[1]	134,542				134,542
Investment, Identifier [Axis]: Warrant Investments and Software and Poplicus, Inc., Warrant, Acquisition Date 5/28/2014, Series Common Stock
Summary of Investment Holdings
Investment cost	[6]			$ 0
Investments, at fair value:				$ 0
Acquisition date	[43]			May 28, 2014
Shares (in shares) | shares				132,168				132,168
Investment, Identifier [Axis]: Warrant Investments and Software and Reltio, Inc., Warrant, Acquisition Date 6/30/2020, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 215	[2]	$ 215	[6]
Investments, at fair value:		$ 698		$ 447
Acquisition date		Jun. 30, 2020	[3]	Jun. 30, 2020	[43]
Shares (in shares) | shares		69,120		69,120		69,120		69,120
Investment, Identifier [Axis]: Warrant Investments and Software and Semperis Technologies Inc., Warrant, Acquisition Date 4/23/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 115
Investments, at fair value:		$ 213
Acquisition date	[3]	Apr. 23, 2024
Shares (in shares) | shares		72,122				72,122
Investment, Identifier [Axis]: Warrant Investments and Software and Simon Data, Inc., Warrant, Acquisition Date 3/22/2023, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 96	[2],[20]	$ 96	[6],[16]
Investments, at fair value:		$ 22	[20]	$ 76	[16]
Acquisition date		Mar. 22, 2023	[3],[20]	Mar. 22, 2023	[16],[43]
Shares (in shares) | shares		77,934	[20]	77,934	[16]	77,934	[20]	77,934	[16]
Investment, Identifier [Axis]: Warrant Investments and Software and SingleStore, Inc., Warrant, Acquisition Date 4/28/2020, Series Preferred Series D
Summary of Investment Holdings
Investment cost		$ 103	[2]	$ 103	[6]
Investments, at fair value:		$ 551		$ 386
Acquisition date		Apr. 28, 2020	[3]	Apr. 28, 2020	[43]
Shares (in shares) | shares		312,596		312,596		312,596		312,596
Investment, Identifier [Axis]: Warrant Investments and Software and Sisense Ltd., Warrant, Acquisition Date 6/8/2023, Series Ordinary Shares
Summary of Investment Holdings
Investment cost		$ 174	[2],[25],[26]	$ 174	[6],[9],[10]
Investments, at fair value:		$ 61	[25],[26]	$ 128	[9],[10]
Acquisition date		Jun. 08, 2023	[3],[25],[26]	Jun. 08, 2023	[9],[10],[43]
Shares (in shares) | shares		321,956	[25],[26]	321,956	[9],[10]	321,956	[25],[26]	321,956	[9],[10]
Investment, Identifier [Axis]: Warrant Investments and Software and Suzy Inc, Warrant, Acquisition Date 8/24/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[12]			$ 367
Investments, at fair value:	[12]			$ 354
Acquisition date	[12],[43]			Aug. 24, 2023
Shares (in shares) | shares	[12]			292,936				292,936
Investment, Identifier [Axis]: Warrant Investments and Software and Suzy, Inc. Warrant, Acquisition Date 8/24/2023, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2],[39]	$ 367
Investments, at fair value:	[1],[39]	$ 291
Acquisition date	[1],[3],[39]	Aug. 24, 2023
Shares (in shares) | shares	[1],[39]	292,936				292,936
Investment, Identifier [Axis]: Warrant Investments and Software and The Faction Group LLC, Warrant, Acquisition Date 11/3/2014, Series Preferred Series AA
Summary of Investment Holdings
Investment cost	[6]			$ 234
Investments, at fair value:				$ 904
Acquisition date	[43]			Nov. 03, 2014
Shares (in shares) | shares				8,076				8,076
Investment, Identifier [Axis]: Warrant Investments and Software and Tipalti Solutions Ltd., Warrant, Acquisition Date 3/22/2023, Series Ordinary Shares
Summary of Investment Holdings
Investment cost		$ 359	[2],[25],[26]	$ 174	[6],[9],[10]
Investments, at fair value:		$ 395	[25],[26]	$ 234	[9],[10]
Acquisition date		Mar. 22, 2023	[3],[25],[26]	Mar. 22, 2023	[9],[10],[43]
Shares (in shares) | shares		509,753	[25],[26]	254,877	[9],[10]	509,753	[25],[26]	254,877	[9],[10]
Investment, Identifier [Axis]: Warrant Investments and Software and VideoAmp, Inc., Warrant, Acquisition Date 1/21/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		$ 1,275	[1],[2]	$ 1,275	[6],[12]
Investments, at fair value:		$ 32	[1]	$ 186	[12]
Acquisition date		Jan. 21, 2022	[1],[3]	Jan. 21, 2022	[12],[43]
Shares (in shares) | shares		152,048	[1]	152,048	[12]	152,048	[1]	152,048	[12]
Investment, Identifier [Axis]: Warrant Investments and Space Technologies (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0%				0%
Investment cost	[2]	$ 207
Investments, at fair value:		10
Investment, Identifier [Axis]: Warrant Investments and Space Technologies and Capella Space Corp., Warrant, Acquisition Date 10/21/2021, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	207
Investments, at fair value:	[1]	$ 10
Acquisition date	[1],[3]	Oct. 21, 2021
Shares (in shares) | shares	[1]	176,200				176,200
Investment, Identifier [Axis]: Warrant Investments and Surgical Devices (0.04%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0.04%				0.04%
Investment cost	[6]			$ 39
Investments, at fair value:				676
Investment, Identifier [Axis]: Warrant Investments and Surgical Devices and TransMedics Group, Inc., Warrant, Acquisition Date 9/11/2015, Series Common Stock
Summary of Investment Holdings
Investment cost	[6],[43]			39
Investments, at fair value:	[43]			$ 676
Acquisition date	[43]			Sep. 11, 2015
Shares (in shares) | shares	[43]			14,440				14,440
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology (0.00%)
Summary of Investment Holdings
Investment owned, percent of net assets	[17]			0%				0%
Investment cost	[6]			$ 539
Investments, at fair value:				83
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology (0.02%)
Summary of Investment Holdings
Investment owned, percent of net assets	[18]	0.02%				0.02%
Investment cost	[2]	$ 622
Investments, at fair value:		461
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Ampion, PBC, Warrant, Acquisition Date 4/15/2022, Series Common Stock
Summary of Investment Holdings
Investment cost		52	[2]	52	[6]
Investments, at fair value:		$ 67		$ 36
Acquisition date		Apr. 15, 2022	[3]	Apr. 15, 2022	[43]
Shares (in shares) | shares		18,472		18,472		18,472		18,472
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Electric Hydrogen Co., Warrant, Acquisition Date 3/27/2024, Series Common Stock
Summary of Investment Holdings
Investment cost	[1],[2]	$ 507
Investments, at fair value:	[1]	$ 394
Acquisition date	[1],[3]	Mar. 27, 2024
Shares (in shares) | shares	[1]	246,618				246,618
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Halio, Inc.
Summary of Investment Holdings
Investment cost	[6]			$ 218
Investments, at fair value:				$ 47
Shares (in shares) | shares				456,883				456,883
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/22/2014, Series Preferred Series A
Summary of Investment Holdings
Investment cost	[6]			$ 155
Investments, at fair value:				$ 36
Acquisition date	[43]			Apr. 22, 2014
Shares (in shares) | shares				325,000				325,000
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/7/2015, Series Common Stock
Summary of Investment Holdings
Investment cost	[2]	$ 63
Investments, at fair value:		$ 0
Acquisition date	[3]	Apr. 07, 2015
Shares (in shares) | shares		144,914				144,914
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/7/2015, Series Preferred Series B
Summary of Investment Holdings
Investment cost	[6]			$ 63
Investments, at fair value:				$ 11
Acquisition date	[43]			Apr. 07, 2015
Shares (in shares) | shares				131,883				131,883
Investment, Identifier [Axis]: Warrant Investments and Sustainable and Renewable Technology and Polyera Corporation, Warrant, Acquisition Date 3/24/2015, Series Preferred Series C
Summary of Investment Holdings
Investment cost	[6]			$ 269
Investments, at fair value:				$ 0
Acquisition date	[43]			Mar. 24, 2015
Shares (in shares) | shares				150,036				150,036
[1] Denotes that all or a portion of the investment in this portfolio company is held by Hercules Capital IV, L.P., the Company’s wholly owned small business investment company. Except for warrants in 23 publicly traded companies and common stock in 28 publicly traded companies, all investments are restricted as of December 31, 2024 and were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s valuation committee (the “Valuation Committee”) and approved by the board of directors (the “Board”). Denotes that all or a portion of the debt investment is pledged as collateral under the SMBC Facility (as defined in “Note 5 — Debt”). Prime represents 8.50% as of December 31, 2023. 1-month SOFR, 3-month SOFR, and 6-month SOFR represent, 5.34%, 5.36%, and 5.35%, respectively, as of December 31, 2023. Gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation for federal income tax purposes totaled $118.3 million, $115.9 million, and $2.4 million, respectively. The tax cost of investments is $3.2 billion. Denotes that all or a portion of the debt investment principal includes accumulated PIK interest and is net of repayments. Denotes that there is an unfunded contractual commitment available at the request of this portfolio company as of December 31, 2023. Refer to “Note 11 — Commitments and Contingencies”. Indicates assets that the Company deems not “qualifying assets” under section 55(a) of 1940 Act. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Non-U.S. company or the company’s principal place of business is outside the United States. Denotes unitranche debt with first lien “last-out” senior secured position and security interest in all assets of the portfolio company whereby the “last-out” portion will be subordinated to the “first-out” portion in a liquidation, sale or other disposition. Denotes that all or a portion of the investment in this portfolio company is held by Hercules Capital IV, L.P., the Company’s wholly owned small business investment company. Denotes that all or a portion of the debt investment secures the 2031 Asset-Backed Notes (as defined in “Note 5 — Debt”). Denotes second lien senior secured debt. Debt is on non-accrual status as of December 31, 2023, and is therefore considered non-income producing. Denotes that all or a portion of the investment is pledged as collateral under the MUFG Bank Facility (as defined in “Note 5 — Debt”). Value as a percent of net assets. All amounts are stated in U.S. Dollars unless otherwise noted. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. Value as a percent of net assets. All amounts are stated in U.S. Dollars unless otherwise noted. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. Denotes that all or a portion of the debt investment secures the 2031 Asset-Backed Notes (as defined in “Note 5 — Debt”). Denotes that all or a portion of the investment is pledged as collateral under the MUFG Bank Facility (as defined in “Note 5 — Debt”). PRIME represents 7.50% as of December 31, 2024. 1-month SOFR, 3-month SOFR, and 6-month SOFR represent 4.33%, 4.31%, and 4.25%, respectively, as of December 31, 2024. Denotes second lien senior secured debt. Denotes that there is an unfunded contractual commitment available at the request of this portfolio company as of December 31, 2024 (Refer to “Note 11 — Commitments and Contingencies”). Denotes that all or a portion of the debt investment principal includes accumulated PIK interest and is net of repayments. Indicates assets that the Company deems not “qualifying assets” under section 55(a) of 1940 Act. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Denotes that all or a portion of the debt investment is convertible debt. Denotes that all or a portion of the debt investment is convertible debt. Denotes unitranche debt with first lien “last-out” senior secured position and security interest in all assets of the portfolio company whereby the “last-out” portion will be subordinated to the “first-out” portion in a liquidation, sale or other disposition. Denotes that the fair value of the Company’s total investments in this portfolio company represent greater than 5% of the Company’s total net assets as of December 31, 2023. Denotes that the fair value of the Company’s total investments in this portfolio company represent greater than 5% of the Company’s total net assets as of December 31, 2024. Denotes that all or a portion of the debt investment is pledged as collateral under the SMBC Facility (as defined in “Note 5 — Debt”). Control investment as defined under the 1940 Act in which Hercules owns at least 25% of the company’s voting securities or has greater than 50% representation on its board. Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1” for additional disclosure. Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1” for additional disclosure. Denotes that all or a portion of the investment in this portfolio company is held by Hercules SBIC V, L.P., the Company’s wholly owned small business investment company. Denotes the security holds rights to royalty fee income associated with certain products of the portfolio company. The approximate cost and fair value of the royalty contract are $12.0 million and $9.4 million, respectively. Denotes the security holds rights to royalty fee income associated with certain products of the portfolio company. The approximate cost and fair value of the royalty contract are $11.9 million and $11.6 million, respectively. Debt is on non-accrual status as of December 31, 2024, and is therefore considered non-income producing. Except for warrants in 24 publicly traded companies and common stock in 36 publicly traded companies, all investments are restricted as of December 31, 2023 and were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s Valuation Committee and approved by the Board. Denotes investment in a non-voting security in the form of a promissory note. The terms of the notes provide the Company with a lien on the issuers' shares of Common Stock for Black Crow AI, Inc., subject to release upon repayment of the outstanding balance of the notes. As of December 31, 2024, the Black Crow AI, Inc. affiliates promissory notes had an outstanding balance of $2.4 million. Denotes investment in a non-voting security in the form of a promissory note. The terms of the notes provide the Company with a lien on the issuers' shares of Common Stock in the portfolio company Black Crow AI, Inc., subject to release upon repayment of the outstanding balance of the notes. As of December 31, 2023, the Black Crow AI, Inc. affiliates promissory notes had an outstanding balance of $2.4 million.

CONSOLIDATED SCHEDULE OF INVE_2

CONSOLIDATED SCHEDULE OF INVESTMENTS - Forward Foreign Currency Exchange Contracts £ in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2024 GBP (£)	Dec. 31, 2023 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Open Forward Foreign Currency Contract, Identifier [Axis]: Foreign Currency Exchange Contracts, Great British Pound (GBP) Counterparty Goldman Sachs Bank USA Settlement Date 6/3/2024
Schedule Of Investments [Line Items]
Derivative, settlement date			Jun. 03, 2024
Derivative liability notional amount | £			£ 19,288
US $ Notional Value at Settlement Date					$ 23,810
Derivatives, gain (loss) value					(766)
Open Forward Foreign Currency Contract, Identifier [Axis]: Foreign Currency Exchange Contracts, Great British Pound (GBP) Counterparty Goldman Sachs Bank USA, Settlement Date 6/3/2025
Schedule Of Investments [Line Items]
Derivative, settlement date		Jun. 03, 2025
Derivative liability notional amount | £		£ 20,511
US $ Notional Value at Settlement Date				$ 26,178
Derivatives, gain (loss) value				538
Open Forward Foreign Currency Contract, Identifier [Axis]: Total Foreign Currency Forward ((0.04%))
Schedule Of Investments [Line Items]
US $ Notional Value at Settlement Date					23,810
Derivatives, gain (loss) value					$ (766)
Investment owned, percent of net assets	[1]		(0.04%)		(0.04%)
Open Forward Foreign Currency Contract, Identifier [Axis]: Total Foreign Currency Forward (0.03%)
Schedule Of Investments [Line Items]
US $ Notional Value at Settlement Date				26,178
Derivatives, gain (loss) value				$ 538
Investment owned, percent of net assets	[2]	0.03%		0.03%
[1] Value as a percent of net assets. All amounts are stated in U.S. Dollars unless otherwise noted. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. Value as a percent of net assets. All amounts are stated in U.S. Dollars unless otherwise noted. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies.

CONSOLIDATED SCHEDULE OF INVE_3

CONSOLIDATED SCHEDULE OF INVESTMENTS (Parenthetical) $ in Thousands	Dec. 31, 2024 USD ($) firm	Dec. 31, 2023 USD ($) firm
Summary of Investment Holdings
Investment, basis spread, variable rate	7.50%
Aggregate Gross Unrealized Appreciation	$ 108,400	$ 118,300
Aggregate Gross Unrealized Depreciation	156,500	115,900
Net Unrealized Appreciation (Depreciation) over cost for U.S. federal income tax purposes	48,100	(2,400)
Aggregate cost of securities for U.S. federal income tax purposes (in billions)	3,700,000	3,200,000
Investment cost	3,708,877	3,247,033
Investments, at fair value:	3,659,978	3,248,046
Black Crow AI, Inc. | Promissory Notes
Summary of Investment Holdings
Principal amount	2,400	2,400
Suzy, Inc. | Royalty Contract
Summary of Investment Holdings
Investment cost	11,900	12,000
Investments, at fair value:	$ 11,600	$ 9,400
Quoted Prices in Active Markets for Identical Assets (Level 1) | Warrants
Summary of Investment Holdings
Number of publicly traded companies | firm	23	24
Quoted Prices in Active Markets for Identical Assets (Level 1) | Common Stock
Summary of Investment Holdings
Number of publicly traded companies | firm	28	36
PRIME
Summary of Investment Holdings
Investment, basis spread, variable rate		8.50%
1-month LIBOR
Summary of Investment Holdings
Interest rate		5.34%
3-month LIBOR
Summary of Investment Holdings
Interest rate		5.36%
6-month LIBOR
Summary of Investment Holdings
Interest rate		5.35%
1-month SOFR
Summary of Investment Holdings
Interest rate	4.33%
3-month SOFR
Summary of Investment Holdings
Interest rate	4.31%
6-month SOFR
Summary of Investment Holdings
Interest rate	4.25%

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Hercules Capital, Inc. (the “Company”) is a specialty finance company focused on providing senior secured loans to high-growth, innovative venture capital-backed and institutional-backed companies in a variety of technology and life sciences industries. The Company sources its investments through its principal office located in San Mateo, CA, as well as through its additional offices in Boston, M A, New York, NY, San Diego, CA, Denver, CO, and London, United Kingdom. The Company was incorporated under the General Corporation Law of the State of Maryland in December 2003. The Company is an internally managed, non-diversified closed-end investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). Effective January 1, 2006, the Company elected to be treated for U.S. federal income tax purposes as a regulated investment company (“RIC”) under Subchapter M Part I of the Internal Revenue Code of 1986, as amended (the "Code") (see “Note 6 – Income Taxes”). The Company is not registered with the Commodity Futures Trading Commission (“CFTC”). The Company has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act (“CEA”), pursuant to Rule 4.5 under the CEA. Therefore, the Company is not subject to registration or regulation as a “commodity pool operator” under the CEA. Hercules Capital IV, L.P. (“HC IV”) and Hercules SBIC V, L.P. (“SBIC V”) are our wholly owned Delaware limited partnerships that were formed in December 2010 and September 2023, respectively. HC IV and SBIC V have each received licenses to operate as a Small Business Investment Company (“SBIC”) under the authority of the Small Business Administration (“SBA”) on October 27, 2020 and July 9, 2024, respectively. Our SBICs are subject to a variety of regulations concerning, among other things, the size and nature of the companies in which they may invest and the structure of those investments. Hercules Technology SBIC Management, LLC (“HTM”), is a wholly owned limited liability company subsidiary of the Company, which was formed in November 2003 and serves as the general partner of HC IV and SBIC V. The Company has also established certain wholly owned subsidiaries, all of which are structured as Delaware corporations or limited liability companies (“LLCs”), to hold portfolio companies organized as LLCs (or other forms of pass-through entities). These subsidiaries are consolidated for financial reporting purposes in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Certain of the subsidiaries are taxable and not consolidated with Hercules for income tax purposes and may generate income tax expense, or benefit, and tax assets and liabilities as a result of their ownership of certain portfolio investments. The Company formed Hercules Capital Management LLC and Hercules Adviser LLC in 2020 as wholly owned Delaware limited liability subsidiaries. The Company was granted no-action relief by the staff of the Securities and Exchange Commission (“SEC”) to allow Hercules Adviser LLC (the “Adviser Subsidiary”) to register as a registered investment adviser under the Investment Advisers Act of 1940, as amended (“Advisers Act”). The Adviser Subsidiary provides investment advisory and related services to investment vehicles (“Adviser Funds”) owned by one or more unrelated third-party investors (“External Parties”). The Adviser Subsidiary is owned by Hercules Capital Management LLC and collectively held and presented with Hercules Partner Holdings, LLC, which separately wholly owns the general partnership interests to each of the Adviser Funds.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S GAAP and pursuant to Regulation S-X. The Company’s functional currency is U.S. dollars (“USD”) and these consolidated financial statements have been prepared in that currency. As an investment company, the Company follows accounting and reporting guidance as set forth in Topic 946, Financial Services – Investment Companies (“ASC Topic 946”) of the Financial Accounting Standards Board's (“FASB”) Accounting Standards Codification, as amended (“ASC”). As provided under Regulation S-X and ASC Topic 946, the Company will not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Rather, an investment company’s interest in portfolio companies that are not investment companies should be measured at fair value in accordance with ASC Topic 946. The Adviser Subsidiary is not an investment company as defined in ASC Topic 946 and further, the Adviser Subsidiary provides investment advisory services exclusively to the Adviser Funds which are owned by External Parties. As such, pursuant to ASC Topic 946, the Adviser Subsidiary is accounted for as a portfolio investment of the Company held at fair value and is not consolidated. Financial statements prepared on a U.S. GAAP basis require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of income, expenses, gains and losses during the reported periods. Changes in the economic and regulatory environment, financial markets, the credit worthiness of our portfolio companies, other macro-economic developments (for example, global pandemics, natural disasters, terrorism, international conflicts and war), and any other parameters used in determining these estimates and assumptions could cause actual results to differ from these estimates and assumptions. Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company, its consolidated subsidiaries, and all Variable Interest Entities (“VIE”) of which the Company is the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. The primary beneficiary of a VIE is the party with both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb the losses or the right to receive benefits that could be significant to the VIE. To assess whether the Company has the power to direct the activities of a VIE that most significantly impact its economic performance, the Company considers all the facts and circumstances including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes identifying the activities that most significantly impact the VIE’s economic performance and identifying which party, if any, has power over those activities. In general, the party that makes the most significant decisions affecting the VIE is determined to have the power to direct the activities of a VIE. To assess whether the Company has the obligation to absorb the losses or the right to receive benefits that could potentially be significant to the VIE, the Company considers all of its economic interests, including debt and equity interests, servicing rights and fee arrangements, and any other variable interests in the VIE. If the Company determines that it is the party with the power to make the most significant decisions affecting the VIE, and the Company has a potentially significant interest in the VIE, then it consolidates the VIE. The Company performs periodic reassessments, usually quarterly, of whether it is the primary beneficiary of a VIE. The reassessment process considers whether the Company has acquired or divested the power to direct the activities of the VIE through changes in governing documents or other circumstances. The Company also reconsiders whether entities previously determined not to be VIEs have become VIEs, based on certain events, and therefore are subject to the VIE consolidation framework. The Company's Consolidated Financial Statements included the accounts of the securitization trust, a VIE, formed in 2022 in conjunction with the issuance of the 2031 Asset-Backed Notes (as defined in “Note 5 – Debt”). The assets of the Company's securitization VIE are restricted to be used to settle obligations of its consolidated securitization VIE, which are disclosed parenthetically on the Consolidated Statements of Assets and Liabilities. The liabilities are the only obligations of its consolidated securitization VIE, and the creditors (or beneficial interest holders) do not have recourse to the Company's general credit. Fair Value Measurements The Company follows guidance in Accounting Standards Codification Topic 820, Fair Value Measurement (“ASC Topic 820”), where fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a framework for measuring the fair value of assets and liabilities and outlines a three-tier hierarchy which maximizes the use of observable market data input and minimizes the use of unobservable inputs to establish a classification of fair value measurements. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. ASC Topic 820 also requires disclosure for fair value measurements based on the level within the hierarchy of the information used in the valuation. ASC Topic 820 applies whenever other standards require (or permit) assets or liabilities to be measured at fair value. The Company categorizes all investments recorded at fair value in accordance with ASC Topic 820 based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC Topic 820 and directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows: Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets at the measurement date. The types of assets carried at Level 1 fair value generally are equities listed in active markets. Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset in connection with market data at the measurement date and for the extent of the instrument’s anticipated life. Fair valued assets that are generally included in this category are publicly held debt investments and warrants held in a public company. Level 3—Inputs reflect management’s best estimate of what market participants would use in pricing the asset at the measurement date. It includes prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. Generally, assets carried at fair value and included in this category are the debt investments and warrants and equities held in a private company. Valuation of Investments The most significant estimate inherent in the preparation of the Company’s consolidated financial statements is the valuation of investments and the related amounts of unrealized appreciation and depreciation of investments recorded. Pursuant to Rule 2a-5 of the 1940 Act, the Board has designated the Company’s Valuation Committee as the “valuation designee”. As of December 31, 2024, approximately 95.5% of the Company’s total assets represented investments in portfolio companies whose fair value is determined in good faith by the Company's Valuation Committee and approved by the Board. Fair Value, as defined in Section 2(a)(41) of the 1940 Act, is (i) the market price for those securities for which a market quotation is readily available and (ii) for all other securities and assets, fair value is as determined in good faith by the Valuation Committee, as valuation designee of the Board. The Company’s investments are carried at fair value in accordance with Rule 2a-5 under the 1940 Act and ASC Topic 946. Given the Company's investment strategy, nature of investments, and types of businesses in which it invests, substantially all of the Company’s investments are considered Level 3 assets under ASC Topic 820 because there generally is no known or accessible market or market indexes for these investment securities to be traded or exchanged. As such, the Company values substantially all of its investments at fair value as determined in good faith pursuant to the valuation guidelines approved by the Board in accordance with the provisions of ASC Topic 820 and the 1940 Act. Due to the inherent uncertainty in determining the fair value of investments that do not have a readily available market values, the fair value of the Company’s investments may differ significantly from the value that would have been used had a readily available market existed for such investments, and the differences could be material. In accordance with procedures approved by its Board, the Company values investments on a quarterly basis following a multistep valuation process. The quarterly Board approved multi-step valuation process is described below: (1) The Company’s quarterly valuation process begins with each portfolio company being initially valued by the investment professionals responsible for the portfolio investment; (2) Preliminary valuation conclusions and business-based assumptions, along with any applicable fair value marks provided by an independent firm, are reviewed with the Company’s investment committee and certain member(s) of credit group as necessary; (3) The Valuation Committee reviews the preliminary valuations recommended by the investment committee and certain member(s) of the credit group of each investment in the portfolio and determines the fair value of each investment in the Company’s portfolio in good faith and recommends the valuation determinations to the Audit Committee of the Board; (4) The Audit Committee of the Board provides oversight of the quarterly valuation process in accordance with Rule 2a-5, which includes a review of the quarterly reports prepared by the Valuation Committee, reviews the fair valuation determinations made by the Valuation Committee, and approves such valuations for inclusion in public reporting and disclosures, as appropriate; and (5) The Board, upon the recommendation of the Audit Committee, discusses valuations and approves the fair value of each investment in the Company’s portfolio. Investments purchased within the preceding two calendar quarters before the valuation date and debt investments with remaining maturities within 12 months or less may each be valued at cost with interest accrued or discount accreted/premium amortized to the date of maturity, unless such valuation, in the judgment of the Company, does not represent fair value. In this case such investments shall be valued at fair value as determined in good faith by the Valuation Committee and approved by the Board. Investments that are not publicly traded or whose market quotations are not readily available are valued at fair value as determined in good faith by the Valuation Committee subject to oversight and approval of the Board. As part of the overall process noted above, the Company engages one or more independent valuation firm(s) to provide management with assistance in determining the fair value of selected portfolio investments each quarter. In selecting which portfolio investments to engage an independent valuation firm, the Company considers a number of factors, including, but not limited to, the potential for material fluctuations in valuation results, size, credit quality, and the time lapse since the last valuation of the portfolio investment by an independent valuation firm. The scope of services rendered by the independent valuation firm is at the discretion of the Valuation Committee and subject to approval of the Board, and the Company may engage an independent valuation firm to value all or some of our portfolio investments. In determining the fair value of a portfolio investment in good faith, the Company recognizes these determinations are made using the best available information that is knowable or reasonably knowable. In addition, changes in the market environment, portfolio company performance and other events that may occur over the duration of the investments may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. The change in fair value of each individual investment is recorded as an adjustment to the investment's fair value and the change is reflected in unrealized appreciation or depreciation. The Company records unrealized depreciation on investments when it believes that an investment has decreased in value, including where it believes collection of a debt investment is doubtful or, if under the in-exchange premise, when it believes the value of a debt investment is less than the amortized cost of the investment. Conversely, where appropriate, the Company records unrealized appreciation if it believes that the underlying portfolio company has appreciated in value and, therefore, that its investment has also appreciated in value or, if it believes, under the in-exchange premise, the value of an investment is greater than its amortized cost. Debt Investments The Company’s debt investments are substantially considered Level 3 assets under ASC Topic 820 with fair value as determined in good faith pursuant to the process described above. In making a good faith determination of the value of the Company’s investments, the Company generally starts with the cost basis of the investment, which includes the value attributed to the original issue discount (“OID”), if any, and payment-in-kind (“PIK”) interest or other receivables which have been accrued as earned. The Company then applies the valuation methods as set forth below. The Company assumes the sale of each debt security in a hypothetical market to a hypothetical market participant where buyers and sellers are willing participants. The hypothetical market does not include scenarios where the underlying security was simply repaid or extinguished, but includes an exit concept. The Company determines the yield at inception for each debt investment. The Company then uses senior secured, leveraged loan yields provided by third party providers to calibrate the change in market yields between inception of the debt investment and the measurement date. Industry specific indices and other relevant market data are used to benchmark and assess market-based movements for reasonableness. As part of determining the fair value, the Company also evaluates the collateral for recoverability of the debt investments. The Company considers each portfolio company’s credit rating, security liens and other characteristics of the investment to adjust the baseline yield to derive a credit adjusted hypothetical yield for each investment as of the measurement date. The anticipated future cash flows from each investment are then discounted at the hypothetical yield to estimate each investment’s fair value as of the measurement date. The Company’s process includes an analysis of, among other things, the underlying investment performance, the current portfolio company’s financial condition and market changing events that impact valuation, estimated remaining life, current market yield and interest rate spreads of similar securities as of the measurement date. The Company values debt securities that are traded on a public exchange at the prevailing market price as of the valuation date. Certain debt investments may be syndicated, for which sufficient market data is available and liquidity, the Company values debt securities using broker quotes and bond indices amongst other factors. Debt investments with market quotations are generally considered Level 1 or 2 assets in line with ASC Topic 820. If there is a significant deterioration of the credit quality of a debt investment, the Company may consider other factors to estimate fair value, including the proceeds that would be received in a liquidation analysis. When originating a debt instrument, the Company generally receives warrants or other equity securities from the borrower. The Company determines the cost basis of the warrants or other equity securities received based upon their respective fair values on the date of receipt in proportion to the total fair value of the debt and warrants or other equity securities received. Any resulting discount on the debt investments from recording warrant or other equity instruments is accreted into interest income over the life of the debt investment. Equity Securities and Warrants Securities that are traded in the over-the-counter markets or on a stock exchange will be valued at the prevailing bid price at period end. The Company has a limited amount of equity securities in public companies. In accordance with the 1940 Act, unrestricted publicly traded securities for which market quotations are readily available are valued at the closing market quote on the measurement date. At each reporting date, privately held warrant and equity securities are valued based on an analysis of various factors including, but not limited to, the portfolio company’s operating performance and financial condition, general market conditions, price to enterprise value or price to equity ratios, discounted cash flow, valuation comparisons to comparable public companies or other industry benchmarks. When an external event occurs, such as a purchase transaction, public offering, or subsequent equity sale, the pricing indicated by that external event is utilized to corroborate the Company’s valuation of the warrant and equity securities. The Company periodically reviews the valuation of its portfolio companies that have not been involved in a qualifying external event to determine if the enterprise value of the portfolio company may have increased or decreased since the last valuation measurement date. Absent a qualifying external event, the Company estimates the fair value of warrants using a Black Scholes OPM. For certain privately held equity securities, the income approach is used, in which the Company converts future amounts (for example, cash flows or earnings) to a net present value. The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors that the Company may take into account include, as relevant: applicable market yields and multiples, the portfolio company’s capital structure, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, its earnings and discounted cash flows, and enterprise value among other factors. Investment Funds & Vehicles The Company applies the practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value (“NAV”) per share (or its equivalent). ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies, or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment. Investments which are valued using NAV per share as a practical expedient are not categorized within the fair value hierarchy as per ASC Topic 820. Derivative Instruments The Company's derivative instruments include foreign currency forward contracts. The Company recognizes all derivative instruments as assets or liabilities at fair value in its consolidated financial statements. Derivative contracts entered into by the Company are not designated as hedging instruments, and as a result, the Company presents changes in fair value through net change in unrealized appreciation (depreciation) on non-control/non-affiliate investments in the Consolidated Statements of Operations. Realized gains and losses of the derivative instruments are included in net realized gains (losses) on non-control/non-affiliate investments in the Consolidated Statements of Operations. The net cash flows realized on settlement of derivatives are included in realized (gain) loss in the Consolidated Statements of Cash Flows. Cash, Cash Equivalents, Foreign Cash, and Restricted Cash Cash and cash equivalents consist solely of funds deposited with financial institutions and short-term liquid investments in money market deposit accounts. Cash and cash equivalents are carried at cost, which approximates fair value. Foreign cash includes the value of foreign currencies held and translated using the prevailing foreign exchange rates on the reporting date. Restricted cash includes amounts that are held as collateral securing certain of the Company’s financing transactions, including amounts held in a securitization trust by trustees related to its 2031 Asset-Backed Notes (refer to “Note 5 – Debt”). Foreign Currency Translation The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the prevailing foreign exchange rate on the reporting date. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. The Company’s investments in foreign securities may involve certain risks, including foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company. Other Assets Other assets generally consist of prepaid expenses, debt issuance costs related to our Credit Facilities net of accumulated amortization, fixed assets net of accumulated depreciation, deferred revenues and deposits and other assets, including escrow and other investment related receivables. Escrow Receivables Escrow receivables are collected in accordance with the terms and conditions of the escrow agreement. Escrow balances are typically distributed over a period greater than one year and may accrue interest during the escrow period. Escrow balances are measured for collectability on at least a quarterly basis and fair value is determined based on the amount of the estimated recoverable balances and the contractual maturity date. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ROU”) assets, and operating lease liability obligations in our Consolidated Statements of Assets and Liabilities. The Company recognizes a ROU asset and an operating lease liability for all leases, with the exception of short-term leases which have a term of 12 months or less. ROU assets represent the right to use an underlying asset for the lease term and operating lease liability obligations represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company has lease agreements with lease and non-lease components and has separated these components when determining the ROU assets and the related lease liabilities. As most of the Company’s leases do not provide an implicit rate, the Company estimated its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The ROU asset also includes any lease payments made and excludes lease incentives and lease direct costs. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. See “Note 11 – Commitments and Contingencies”. Investment Income Recognition The Company’s investment portfolio generates interest, fee, and dividend income. The Company records interest income on an accrual basis, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. The Company’s Structured Debt investments may generate OID related income. "Structured Debt" refers to a debt investment that is structured with an equity, warrant, option, or other right to purchase or convert into common or preferred equity investments. The OID recorded upfront typically represents the value of detachable equity, warrants, or another asset obtained in conjunction with the acquisition of debt securities. The OID value is accreted into interest income over the term of the loan as a yield enhancement following the effective interest method. Additionally, certain debt investments in the Company’s portfolio earn PIK interest. The Company records PIK interest in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. Contractual PIK interest represents contractually deferred interest that is added to the loan balance as principal and is generally due at the end of the loan term. Additionally, the Company’s loan origination activities generate fee income, which is generally collected in advance and includes loan commitment, facility fees for due diligence and structuring, as well as fees for transaction services and management services rendered by the Company to portfolio companies and other third parties. Loan commitment and facility fees are capitalized and then amortized into income over the contractual life of the loan using the effective interest method. One-off fees for transaction and management services are generally recognized as income in the period when the services are rendered. The Company may also earn loan exit fees, which are contractual fees that are generally received upon the earlier of maturity or prepayment. The Company accretes loan exit fees into interest income following the effective interest method, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. From time to time, additional fees may be earned by the Company relating to specific loan modifications, prepayments, or other one-off events. These non-recurring fees are either amortized into fee income over the remaining term of the loan commencing in the quarter for loan modifications, or recognized currently as one-time fee income for items such as prepayment penalties, fees related to select covenant default waiver fees, and acceleration of previously deferred loan fees and OID related to early loan pay-off or material modification of the specific debt outstanding. Debt investments are placed on non-accrual status when it is probable that principal, interest or fees will not be collected according to contractual terms. When a debt investment is placed on non-accrual status, the Company ceases to recognize interest and fee income until the portfolio company has paid all principal and interest due or demonstrated the ability to repay its current and future contractual obligations to the Company. The Company may determine to continue to accrue interest on a loan where the investment has sufficient collateral value to collect all of the contractual amount due and is in the process of collection. Interest collected on non-accrual investments are generally applied to principal. Dividend income is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies to the extent that such amounts are payable by the portfolio company and are expected to be collected. Realized Gains or Losses Realized gains or losses are measured by the difference between the net proceeds from the sale or other realization event and the cost basis of the investment using the specific identification method without regard to unrealized appreciation or depreciation previously recognized, and includes investments charged off during the period, net of recoveries. Secured Borrowings The Company follows the guidance in ASC Topic 860, Transfers and Servicing (“ASC Topic 860”), when accounting for participation and other partial loan sales. Certain loan sales do not qualify for sale accounting under ASC Topic 860 because these sales do not meet the definition of a “participating interest”, as defined in the guidance, in order for sale accounting treatment to be allowed. Participations or other partial loan sales which do not meet the definition of a participating interest, or which are not eligible for sale accounting treatment remain as an investment on the consolidated balance sheet as required under U.S. GAAP and the proceeds are recorded as a secured borrowing. Secured borrowings are carried at fair value. Equity Offering Expenses The Company’s offering expenses are charged against the proceeds from equity offerings when received as a reduction of capital upon completion of an offering of registered securities. Debt The debt of the Company is carried at amortized cost which is comprised of the principal amount borrowed net of any unamortized discount and debt issuance costs. Discounts and issuance costs are accreted to interest expense and loan fees, respectively, using the straight-line method, which closely approximates the effective yield method, over the remaining life of the underlying debt obligations (see “Note 5 - Debt”). Accrued but unpaid interest is included within Accounts payable and accrued liabilities on the Consolidated Statements of Assets and Liabilities. In the event that the debt is extinguished, either partially or in full, before maturity, the Company recognizes the gain or loss in the Consolidated Statements of Operations within net realized gains (losses) as a “Loss on extinguishment of debt”. Debt Issuance Costs Debt issuance costs are fees and other direct incremental costs incurred by the Company in obtaining debt financing and are recognized as prepaid expenses and amortized over the life of the related debt instrument using the effective yield method or the straight-line method, which closely approximates the effective yield method. In accordance with ASC Subtopic 835-30, Interest – Imputation of Interest, debt issuance costs are presented as a reduction to the associated liability balance on the Consolidated Statements of Assets and Liabilities, except for debt issuance costs associated with line-of-credit arrangements which are included within Other Assets as permitted under GAAP. Stock-Based Compensation The Company has issued and may, from time to time, issue stock options, restricted stock, and other stock-based compensation awards to employees and directors. Management follow

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	3. Fair Value of Financial Instruments The Company values financial instruments in accordance with ASC 820, using the techniques and approaches outlined in the Company's valuation guidelines, which are approved by the Board. During the fiscal years ended December 31, 2024 and December 31, 2023, there were no changes to the Company’s valuation techniques or approaches as described herein. Fair value estimates are made at discrete points in time based on relevant information. These estimates may be subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Investments measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations as of December 31, 2024 and December 31, 2023. (in thousands) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Cash and cash equivalents Money Market Fund (1) $ 21,100 $ 21,100 $ — $ — Other assets and liabilities Escrow and Other Investment Receivables $ 152 $ — $ — $ 152 Accounts Payable and Accrued Liabilities (1,012) — — (1012) Investments Senior Secured Debt $ 3,419,044 $ — $ — $ 3,419,044 Unsecured Debt 75,557 — — 75,557 Preferred Stock 53,802 — — 53,802 Common Stock (2) 74,855 30,262 — 44,593 Warrants 30,500 — 8,677 21,823 $ 3,653,758 $ 30,262 $ 8,677 $ 3,614,819 Investment Funds & Vehicles measured at Net Asset Value (3) 6,220 Total Investments, at fair value $ 3,659,978 Derivative Instruments (4) 538 Total Investments including cash and cash equivalents and derivative instruments $ 3,681,616 (in thousands) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Cash and cash equivalents Money Market Fund (1) $ 56,000 $ 56,000 $ — $ — Other assets Escrow and Other Investment Receivables $ 10,888 $ — $ — $ 10,888 Investments Senior Secured Debt $ 2,987,577 $ — $ — $ 2,987,577 Unsecured Debt 69,722 — — 69,722 Preferred Stock 53,038 — — 53,038 Common Stock (2) 99,132 57,342 — 41,790 Warrants 33,969 — 11,881 22,088 $ 3,243,438 $ 57,342 $ 11,881 $ 3,174,215 Investment Funds & Vehicles measured at Net Asset Value (3) 4,608 Total Investments, at fair value $ 3,248,046 Derivative Instruments (4) (766) Total Investments including cash and cash equivalents and derivative instruments $ 3,303,280 (1) This investment is included in Cash and cash equivalents in the accompanying Consolidated Statements of Assets and Liabilities. (2) Common Stock includes non-voting security in the form of a promissory note with a lien on shares of issuer's Common Stock. (3) In accordance with U.S. GAAP, certain investments are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are not categorized within the fair value hierarchy as per ASC 820. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the accompanying Consolidated Statements of Assets and Liabilities. (4) Derivative Instruments are carried at fair value and are a Level 2 security within the Company's fair value hierarchy . The table below presents a reconciliation of changes for all financial assets and liabilities measured at fair value on a recurring basis, excluding accrued interest components, using significant unobservable inputs (Level 3) for the years ended December 31, 2024 and December 31, 2023. (in thousands) Balance as of Net Realized Gains (Losses) (1) Net Change in Unrealized Appreciation (Depreciation) (2) Purchases (5) Sales Repayments (6) Gross Transfers into Level 3 (3)* Gross Transfers out of Level 3 (3)* Balance as of Investments Senior Secured Debt $ 2,987,577 $ (52,120) $ (21,146) $ 1,475,032 $ — $ (965,924) $ — $ (4,375) $ 3,419,044 Unsecured Debt 69,722 — 1,277 4,558 — — — — 75,557 Preferred Stock 53,038 (711) (5,709) 4,753 — — 2,431 — 53,802 Common Stock 41,790 (1,453) (1,506) 4,100 — — 1,662 — 44,593 Warrants 22,088 (648) (702) 3,914 (2,829) — — — 21,823 Other Assets and Liabilities Escrow and Other Investment Receivables 10,888 89 5,869 47 (18,511) — — 1,770 152 Accounts Payable and Accrued Liabilities — (10,938) 11,179 1,870 (1,353) — (1,770) — (1,012) Total $ 3,185,103 $ (65,781) $ (10,738) $ 1,494,274 $ (22,693) $ (965,924) $ 2,323 $ (2,605) $ 3,613,959 (in thousands) Balance as of Net Realized Gains (Losses) (1) Net Change in Unrealized Appreciation (Depreciation) (2) Purchases (5) Sales Repayments (6) Gross Transfers into Level 3 (4)* Gross Transfers out of Level 3 (4)* Balance as of Investments Senior Secured Debt $ 2,741,388 $ (5,350) $ 17,277 $ 1,264,689 $ — $ (990,448) $ — $ (39,979) $ 2,987,577 Unsecured Debt 54,056 — 4,268 11,398 — — — — 69,722 Preferred Stock 41,488 (3,441) (1,123) 2,851 — — 13,263 — 53,038 Common Stock 25,059 — 11,325 6,000 (594) — — — 41,790 Warrants 19,419 (4,295) 4,825 3,894 (1,755) — — — 22,088 Other Assets Escrow and Other Investment Receivables 875 65 (17,022) 537 (283) — 26,716 — 10,888 Total $ 2,882,285 $ (13,021) $ 19,550 $ 1,289,369 $ (2,632) $ (990,448) $ 39,979 $ (39,979) $ 3,185,103 * The Company recognizes transfers as of the transaction date. (1) Included in net realized gains (losses) in the accompanying Consolidated Statements of Operations. (2) Included in net change in unrealized appreciation (depreciation) in the accompanying Consolidated Statements of Operations. (3) Transfers out of Level 3 during the year ended December 31, 2024 related to the conversion of the Company's Level 3 debt investments in Better Therapeutics, Inc. and Eigen Technologies Ltd. into common stock and preferred stock Level 3 investments in acquiring companies. (4) Transfers within Level 3 during the year ended December 31, 2023 related to the conversion of Level 3 debt investments into Level 3 preferred stock investments and other assets. (5) Amounts listed above are inclusive of loan origination fees received at the inception of the loan which are deferred and amortized into fee income as well as the accretion of existing loan discounts and fees during the period. Escrow receivable purchases may include additions due to proceeds held in escrow from the liquidation of level 3 investments. Amounts are net of purchases assigned to the Adviser Funds. (6) Amounts listed above include the acceleration and payment of loan discounts and loan fees due to early payoffs or restructures along with regularly scheduled amortization. The following table presents the net unrealized appreciation (depreciation) recorded for debt, preferred stock, common stock and warrant Level 3 investments relating to assets still held at the reporting date. (in millions) Year Ended December 31, 2024 2023 Debt investments $ (44.2) $ 11.5 Preferred stock (5.9) (4.6) Common stock (2.4) 11.3 Warrant investments 0.7 1.5 The following tables provide quantitative information about the Company’s Level 3 fair value measurements as of December 31, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the tables below, according to the Company’s valuation guidelines, the Company may also use other valuation techniques and methodologies when determining the Company’s fair value measurements. The tables below are not intended to be all-inclusive, but rather provide information on the significant Level 3 inputs as they relate to the Company’s fair value measurements. See the accompanying Consolidated Schedule of Investments for the fair value of the Company’s investments. The methodology for the determination of the fair value of the Company’s investments is discussed in “Note 2 – Summary of Significant Accounting Policies”. The significant unobservable input used in the fair value measurement of the Company’s escrow receivables is the amount recoverable at the contractual maturity date of the escrow receivable. Investment Type - Level 3 Fair Value as of Valuation Unobservable Input (1) Range Weighted Average (2) Pharmaceuticals $ 947,065 Market Comparable Companies Hypothetical Market Yield 8.42% - 16.19% 12.03% Premium/(Discount) (2.50%) - 3.00% 0.13% 55,344 Liquidation (3) Probability weighting of alternative outcomes 20.00% - 80.00% 75.53% Technology 1,365,943 Market Comparable Companies Hypothetical Market Yield 10.21% - 20.58% 13.10% Premium/(Discount) (0.75%) - 4.50% 0.20% 26,869 Convertible Note Analysis Probability weighting of alternative outcomes 1.00% - 70.00% 50.66% 51,004 Liquidation (3) Probability weighting of alternative outcomes 22.00% - 78.00% 66.34% Sustainable and Renewable Technology 21,102 Market Comparable Companies Hypothetical Market Yield 12.41% - 15.44% 15.25% Premium/(Discount) 0.25% - 3.50% 0.45% Medical Devices 59,645 Market Comparable Companies Hypothetical Market Yield 11.79% - 12.75% 12.24% Premium/(Discount) 0.00% - 0.50% 0.26% Lower Middle Market 636,258 Market Comparable Companies Hypothetical Market Yield 10.27% - 21.00% 14.12% Premium/(Discount) (0.25%) - 5.00% 1.07% Debt Investments for which Cost Approximates Fair Value 242,833 Debt Investments originated within 6 months 4,141 Imminent Payoffs (4) 36,185 Debt Investments Maturing in Less than One Year 48,212 Debt Investments in Wholly-Owned Subsidiaries $ 3,494,601 Total Level 3 Debt Investments Accounts Payable and Accrued Liabilities (1,012) Liquidation (3) Probability weighting of alternative outcomes 20.00% - 50.00% 38.44% $ 3,493,589 Total Level Three Debt Investments and Other Investment Receivables (Payables) (1) The significant unobservable inputs used in the fair value measurement of the Company’s debt securities are hypothetical market yields and premiums/(discounts). The hypothetical market yield is defined as the exit price of an investment in a hypothetical market to hypothetical market participants where buyers and sellers are willing participants. The premiums/(discounts) relate to company specific characteristics such as underlying investment performance, security liens, and other characteristics of the investment. Significant increases (decreases) in the inputs in isolation may result in a significantly lower (higher) fair value measurement, depending on the materiality of the investment. Debt investments in the industries noted in the Company’s Consolidated Schedule of Investments are included in the industries noted above as follows: • Pharmaceuticals, above, is comprised of debt investments in the “Drug Discovery & Development” and “Healthcare Services, Other” industries. • Technology, above, is comprised of debt investments in the “Communications & Networking”, “Information Services”, “Consumer & Business Services”, “Media/Content/Info”, “Space Technologies”, and “Software” industries. • Sustainable and Renewable Technology, above, is comprised of debt investments in the “Sustainable and Renewable Technology” industry. • Medical Devices, above, is comprised of debt investments in the “Medical Devices & Equipment” industry. • Lower Middle Market, above, is comprised of debt investments in the “Healthcare Services – Other”, “Consumer & Business Services”, “Diversified Financial Services”, “Sustainable and Renewable Technology”, and “Software” industries. (2) The weighted averages are calculated based on the fair market value of each investment. (3) The significant unobservable input used in the fair value measurement of impaired debt securities and other investment receivables (payables) is the probability weighting of alternative outcomes. (4) Imminent Payoffs represent debt investments that the Company expects to be fully repaid within the next three months, prior to their scheduled maturity date. Investment Type - Level 3 Fair Value as of Valuation Techniques/Methodologies Unobservable Input (1) Range Weighted Average (2) Pharmaceuticals $ 971,775 Market Comparable Companies Hypothetical Market Yield 10.91% - 21.43% 13.46% Premium/(Discount) (1.00%) - 3.50% 0.04% 8,455 Liquidation (3) Probability weighting of alternative outcomes 10.00% - 50.00% 41.83% Technology 1,181,823 Market Comparable Companies Hypothetical Market Yield 11.30% - 20.74% 15.03% Premium/(Discount) (1.00%) - 5.00% 0.47% 23,244 Convertible Note Analysis Probability weighting of alternative outcomes 1.00% - 50.00% 39.32% — Liquidation (3) Probability weighting of alternative outcomes 100.00% - 100.00% 100.00% Sustainable and Renewable Technology 1,678 Market Comparable Companies Hypothetical Market Yield 10.75% - 10.75% 10.75% Premium/(Discount) 0.75% - 0.75% 0.75% Lower Middle Market 322,162 Market Comparable Companies Hypothetical Market Yield 12.54% - 20.15% 14.13% Premium/(Discount) (0.75%) - 2.25% 0.56% Debt Investments for which Cost Approximates Fair Value 431,512 Debt Investments originated within 6 months 54,430 Imminent Payoffs (4) 62,220 Debt Investments Maturing in Less than One Year $ 3,057,299 Total Level 3 Debt Investments Other Investment Receivables 9,648 Liquidation (3) Probability weighting of alternative outcomes 10.00% - 50.00% 41.83% $ 3,066,947 Total Level Three Debt Investments and Other Investment Receivables (1) The significant unobservable inputs used in the fair value measurement of the Company’s debt securities are hypothetical market yields and premiums/(discounts). The hypothetical market yield is defined as the exit price of an investment in a hypothetical market to hypothetical market participants where buyers and sellers are willing participants. The premiums/(discounts) relate to company specific characteristics such as underlying investment performance, security liens, and other characteristics of the investment. Significant increases (decreases) in the inputs in isolation may result in a significantly lower (higher) fair value measurement, depending on the materiality of the investment. Debt investments in the industries noted in the Company’s Consolidated Schedule of Investments are included in the industries noted above as follows: • Pharmaceuticals, above, is comprised of debt investments in the “Drug Discovery & Development” and “Healthcare Services, Other” industries. • Technology, above, is comprised of debt investments in the “Communications & Networking”, “Information Services”, “Consumer & Business Services”, “Media/Content/Info” and “Software” industries. • Sustainable and Renewable Technology, above, is comprised of debt investments in the “Sustainable and Renewable Technology” industry. • Lower Middle Market, above, is comprised of debt investments in the “Healthcare Services – Other”, “Consumer & Business Services”, “Diversified Financial Services”, “Sustainable and Renewable Technology”, and “Software” industries. (2) The weighted averages are calculated based on the fair market value of each investment. (3) The significant unobservable input used in the fair value measurement of impaired debt securities and other investment receivables is the probability weighting of alternative outcomes. (4) Imminent payoffs represent debt investments that the Company expects to be fully repaid within the next three months, prior to their scheduled maturity date. Investment Type - Level 3 Equity and Warrant Investments Fair Value as of Valuation Techniques/ Unobservable Input (1) Range Weighted Average (5) Equity Investments $ 45,420 Market Comparable Companies Revenue Multiple (2) 0.4x - 16.8x 9.1x Tangible Book Value Multiple (2) 1.7x - 1.7x 1.7x Discount for Lack of Marketability (3) 17.64% - 92.80% 36.12% 12,374 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (96.57%) - 24.76% (17.57%) 34,677 Discounted Cash Flow Discount Rate (7) 12.17% - 33.34% 30.21% 5,924 Other (6) Warrant Investments 18,302 Market Comparable Companies Revenue Multiple (2) 0.8x - 14.1x 4.5x Discount for Lack of Marketability (3) 14.72% - 34.35% 26.76% 3,521 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (56.36%) - 24.76% 1.33% Total Level 3 Equity and $ 120,218 (1) The significant unobservable inputs used in the fair value measurement of the Company’s warrant and equity securities are revenue and/or earnings multiples (e.g. EBITDA, EBT, ARR), market equity adjustment factors, and discounts for lack of marketability. Significant increases/(decreases) in the inputs in isolation would result in a significantly higher/(lower) fair value measurement, depending on the materiality of the investment. For some investments, additional consideration may be given to data from the last round of financing or merger/acquisition events near the measurement date. The significant unobservable input used in the fair value measurement of impaired equity securities is the probability weighting of alternative outcomes. (2) Represents amounts used when the Company has determined that market participants would use such multiples when pricing the investments. (3) Represents amounts used when the Company has determined market participants would take into account these discounts when pricing the investments. (4) Represents the range of changes in industry valuations since the portfolio company's last external valuation event. (5) Weighted averages are calculated based on the fair market value of each investment. (6) The fair market value of these investments is derived based on recent private market and merger and acquisition transaction prices. (7) The discount rate used is based on current portfolio yield adjusted for uncertainty of actual performance and timing in capital deployments. Investment Type - Level 3 Equity and Warrant Investments Fair Value as of Valuation Techniques/ Unobservable Input (1) Range Weighted Average (5) Equity Investments $ 52,094 Market Comparable Companies EBITDA Multiple (2) 12.3x - 12.3x 12.3x Revenue Multiple (2) 0.3x - 20.1x 7.2x Tangible Book Value Multiple (2) 1.8x - 1.8x 1.8x Discount for Lack of Marketability (3) 7.11% - 92.72% 31.57% 11,096 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (86.14%) - 32.69% 7.47% 28,713 Discounted Cash Flow Discount Rate (7) 19.88% - 31.97% 30.51% 2,925 Other (6) Warrant Investments 19,014 Market Comparable Companies EBITDA Multiple (2) 12.3x - 12.3x 12.3x Revenue Multiple (2) 0.9x - 10.2x 4.2x Discount for Lack of Marketability (3) 6.21% - 33.12% 21.70% 3,074 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (70.67%) - 34.86% 13.17% — Other (6) Total Level 3 Equity and Warrant Investments $ 116,916 (1) The significant unobservable inputs used in the fair value measurement of the Company’s warrant and equity securities are revenue and/or earnings multiples (e.g. EBITDA, EBT, ARR), market equity adjustment factors, and discounts for lack of marketability. Significant increases/ (decreases) in the inputs in isolation would result in a significantly higher/(lower) fair value measurement, depending on the materiality of the investment. For some investments, additional consideration may be given to data from the last round of financing or merger/acquisition events near the measurement date. The significant unobservable input used in the fair value measurement of impaired equity securities is the probability weighting of alternative outcomes. (2) Represents amounts used when the Company has determined that market participants would use such multiples when pricing the investments. (3) Represents amounts used when the Company has determined market participants would take into account these discounts when pricing the investments. (4) Represents the range of changes in industry valuations since the portfolio company's last external valuation event. (5) Weighted averages are calculated based on the fair market value of each investment. (6) The fair market value of these investments is derived based on recent market transactions. (7) The discount rate used is based on current portfolio yield adjusted for uncertainty of actual performance and timing in capital deployments. The Company believes that the carrying amounts of its financial instruments, other than investments and debt, which consist of cash and cash equivalents, receivables including escrow receivables, accounts payable and accrued liabilities, approximate the fair values of such items due to the short maturity of such instruments. The debt obligations of the Company are recorded at amortized cost and not at fair value on the Consolidated Statements of Assets and Liabilities. The fair value of the Company’s outstanding debt obligations are based on observable market trading prices or quotations and unobservable market rates as applicable for each instrument. As of December 31, 2024 and December 31, 2023, the 2033 Notes (as defined in "Note 5 - Debt") were trading on the New York Stock Exchange ("NYSE") at $25.17 and $25.25 per unit at par value. The par value at underwriting for the 2033 Notes was $25.00 per unit. Based on market quotations on or around December 31, 2024 and December 31, 2023, the 2031 Asset-Backed Notes (as defined in “Note 5 - Debt”) were quoted for 0.963 and 0.950. The fair values of the SBA debentures, February 2025 Notes, June 2025 Notes, June 2025 3-Year Notes, March 2026 A Notes, March 2026 B Notes, September 2026, and January 2027 Notes (as defined in “Note 5 - Debt”) are calculated based on the net present value of payments over the term of the notes using estimated market rates for similar notes and remaining terms. The fair values of the outstanding debt under the MUFG Bank Facility and the SMBC Facility (each as defined in “Note 5 - Debt”) are equal to their outstanding principal balances as of December 31, 2024 and December 31, 2023. The following tables provide additional information about the approximate fair value and level in the fair value hierarchy of the Company’s outstanding borrowings as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 Description Carrying Approximate Identical Assets Observable Inputs Unobservable Inputs SBA Debentures $ 271,371 $ 260,436 $ — $ — $ 260,436 February 2025 Notes 49,981 50,698 — — 50,698 June 2025 Notes 69,919 69,308 — — 69,308 June 2025 3-Year Notes 49,926 49,713 — — 49,713 March 2026 A Notes 49,889 49,052 — — 49,052 March 2026 B Notes 49,880 49,087 — — 49,087 September 2026 Notes 323,321 302,244 — — 302,244 January 2027 Notes 347,265 327,928 — — 327,928 2031 Asset-Backed Notes 118,769 115,031 — 115,031 — 2033 Notes 39,043 40,272 — 40,272 — MUFG Bank Facility 116,000 116,000 — — 116,000 SMBC Facility 283,591 283,591 — — 283,591 Total $ 1,768,955 $ 1,713,360 $ — $ 155,303 $ 1,558,057 (in thousands) December 31, 2023 Description Carrying Approximate Identical Assets Observable Inputs Unobservable Inputs SBA Debentures $ 170,323 $ 142,011 $ — $ — $ 142,011 July 2024 Notes 104,828 105,755 — — 105,755 February 2025 Notes 49,866 49,144 — — 49,144 June 2025 Notes 69,757 67,198 — — 67,198 June 2025 3-Year Notes 49,771 48,983 — — 48,983 March 2026 A Notes 49,795 47,702 — — 47,702 March 2026 B Notes 49,776 47,759 — — 47,759 September 2026 Notes 322,339 288,711 — — 288,711 January 2027 Notes 345,935 315,832 — — 315,832 2031 Asset-Backed Notes 148,544 142,500 — 142,500 — 2033 Notes 38,935 40,400 — 40,400 — MUFG Bank Facility 61,000 61,000 — — 61,000 SMBC Facility 94,000 94,000 — — 94,000 Total $ 1,554,869 $ 1,450,995 $ — $ 182,900 $ 1,268,095

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Schedule of Investments [Abstract]
Investments	Investments Control and Affiliate Investments As required by the 1940 Act, the Company classifies its investments by level of control. “Control investments” are defined in the 1940 Act as investments in those companies that the Company is deemed to “control”. Under the 1940 Act, the Company is generally deemed to “control” a company in which it has invested if it owns 25% or more of the voting securities of such company or has greater than 50% representation on its board. “Affiliate investments” are investments in those companies that are “affiliated companies” of the Company, as defined in the 1940 Act, which are not control investments. The Company is deemed to be an “affiliate” of a company in which it has invested if it owns 5% or more, but generally less than 25%, of the voting securities of such company. “Non-control/non-affiliate investments” are investments that are neither control investments nor affiliate investments. For purposes of determining the classification of its investments, the Company has included consideration of any voting securities or board appointment rights held by the Adviser Funds. The following table summarizes the Company’s realized gains and losses and changes in unrealized appreciation and depreciation on control and affiliate investments for the years ended December 31, 2024, 2023, and 2022. (in thousands) For the Year Ended December 31, 2024 Portfolio Company (1) Type Fair Value as of Interest & Dividend Income Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 69 $ — $ — $ (193) $ — Gibraltar Acquisition LLC (3) Control 59,263 5,301 146 (4,983) — Hercules Adviser LLC (4) Control 42,190 7,410 — 1,477 — Tectura Corporation Control 11,657 692 — 140 — Total Control Investments $ 113,179 $ 13,403 $ 146 $ (3,559) $ — (in thousands) For the Year Ended December 31, 2023 Portfolio Company (1) Type Fair Value as of Interest Income Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 262 $ — $ — $ (57) $ — Gibraltar Acquisition LLC (3) Control 62,512 3,344 95 9,656 — Hercules Adviser LLC (4) Control 40,713 608 — 9,560 — Tectura Corporation Control 11,517 690 — 3,475 — Total Control Investments $ 115,004 $ 4,642 $ 95 $ 22,634 $ — (in thousands) For the Year Ended December 31, 2022 Portfolio Company (1) Type Fair Value as of Interest Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 319 $ — $ — $ (246) $ — Gibraltar Business Capital, LLC Control 36,944 3,385 68 (6,968) — Hercules Adviser LLC Control 31,153 546 — 7,163 — Tectura Corporation Control 8,042 690 — (227) — Total Control Investments $ 76,458 $ 4,621 $ 68 $ (278) $ — Affiliate Investments Black Crow AI, Inc. (2) Affiliate $ — $ — $ — $ (120) $ 3,772 Pineapple Energy LLC (2) Affiliate — 1,204 — 4,209 (2,014) Total Affiliate Investments $ — $ 1,204 $ — $ 4,089 $ 1,758 Total Control & Affiliate Investments $ 76,458 $ 5,825 $ 68 $ 3,811 $ 1,758 (1) In accordance with Rules 3-09, 4-08(g), and Rule 10-01(b)(1) of Regulation S-X, (“Rule 3-09”, “Rule 4-08(g)”, and “Rule 10-01(b)(1)”, respectively), the Company must determine if its unconsolidated subsidiaries are considered “significant subsidiaries”. As of December 31, 2024, December 31, 2023, and December 31, 2022 there were no unconsolidated subsidiaries that are considered “significant subsidiaries”. (2) As of September 30, 2022, Black Crow AI, Inc. and Pineapple Energy LLC were no longer affiliates as defined under the 1940 Act. (3) Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC, respectively. (4) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1” for additional disclosure . Portfolio Composition The following table shows the fair value of the Company’s portfolio of investments by asset class as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Senior Secured Debt $ 3,419,044 93.4 % $ 2,987,577 92.0 % Unsecured Debt 75,557 2.1 % 69,722 2.2 % Preferred Stock 53,802 1.5 % 53,038 1.6 % Common Stock 74,855 2.0 % 99,132 3.1 % Warrants 30,500 0.8 % 33,969 1.0 % Investment Funds & Vehicles 6,220 0.2 % 4,608 0.1 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % A summary of the Company’s investment portfolio, at value, by geographic location as of December 31, 2024 and December 31, 2023 is shown as follows: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of United States $ 3,288,737 89.9 % $ 2,861,615 88.1 % United Kingdom 142,183 3.9 % 222,136 6.9 % Israel 88,066 2.4 % 52,868 1.6 % Netherlands 59,157 1.6 % 89,995 2.8 % Germany 49,255 1.3 % 1,144 0.0 % Canada 16,251 0.4 % 15,730 0.5 % Denmark 9,284 0.3 % 4,173 0.1 % Ireland 4,649 0.1 % — 0.0 % Singapore 1,996 0.1 % — 0.0 % Other 400 0.0 % 385 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % The following table shows the fair value of the Company’s portfolio by industry sector as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Software $ 1,081,100 29.5 % $ 764,985 23.6 % Drug Discovery & Development 1,080,390 29.5 % 1,257,699 38.7 % Healthcare Services, Other 610,184 16.7 % 300,079 9.3 % Consumer & Business Services 372,641 10.2 % 525,973 16.2 % Electronics & Computer Hardware 162,888 4.5 % 20,324 0.6 % Diversified Financial Services 113,491 3.1 % 114,722 3.5 % Medical Devices & Equipment 74,962 2.0 % 22,096 0.7 % Space Technologies 45,700 1.2 % — 0.0 % Biotechnology Tools 35,434 1.0 % 48,381 1.5 % Communications & Networking 27,700 0.8 % 29,400 0.9 % Sustainable and Renewable Technology 27,696 0.8 % 9,581 0.3 % Information Services 24,356 0.7 % 126,605 3.9 % Consumer & Business Products 1,497 0.0 % 2,589 0.1 % Manufacturing Technology 1,162 0.0 % 11,006 0.3 % Semiconductors 704 0.0 % 1,205 0.0 % Media/Content/Info 63 0.0 % 12,704 0.4 % Drug Delivery 10 0.0 % 21 0.0 % Surgical Devices — 0.0 % 676 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % No single portfolio investment represents more than 10% of the fair value of the Company’s total investments as of December 31, 2024 or December 31, 2023. Concentrations of Credit Risk The Company’s customers are primarily privately held companies and public companies which are active in the “Software", "Drug Discovery & Development”, “Healthcare Services, Other”, and “Consumer & Business Services” sectors. These sectors are characterized by high margins, high growth rates, consolidation and product and market extension opportunities. Value for companies in these sectors is often vested in intangible assets and intellectual property. Industry and sector concentrations vary as new loans are recorded and loans are paid off. Investment income, consisting of interest, fees, and recognition of gains on equity and warrant or other equity interests, can fluctuate materially when a loan is paid off or a related warrant or equity interest is sold. Investment income recognized in any given year can be highly concentrated among several portfolio companies. As of December 31, 2024 and December 31, 2023, the Company’s ten largest portfolio companies represented approximately 31.6% and 29.7% of the total fair value of the Company’s investments in portfolio companies, respectively. As of December 31, 2024 and December 31, 2023, the Company had six and five portfolio companies, respectively, that represented 5% or more of the Company’s net assets. As of December 31, 2024, the Company had three equity investments representing approximately 49.7% of the total fair value of the Company’s equity investments, and each represented 5% or more of the total fair value of the Company’s equity investments. As of December 31, 2023, the Company had five equity investments which represented approximately 56.5% of the total fair value of the Company’s equity investments, and each represented 5% or more of the total fair value of such investments. Investment Collateral In the majority of cases, the Company collateralizes its investments by obtaining a first priority security interest in a portfolio company’s assets, which may include its intellectual property. In other cases, the Company may obtain a negative pledge covering a company’s intellectual property. The Company's investments were collateralized as follows as of December 31, 2024 and December 31, 2023: Percentage of debt investments (at fair value), as of December 31, 2024 December 31, 2023 Senior Secured First Lien All assets including intellectual property 67.1 % 52.3 % All assets with negative pledge on intellectual property 14.2 % 24.0 % “Last-out” with security interest in all of the assets 9.7 % 12.5 % Total senior secured first lien position 91.0 % 88.8 % Second lien 6.8 % 8.9 % Unsecured 2.2 % 2.3 % Total debt investments at fair value 100.0 % 100.0 % Derivative Instruments The Company enters into forward currency contracts from time to time to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. The following is a summary of the fair value and location of the Company’s derivative instruments in the Consolidated Statements of Assets and Liabilities held as of December 31, 2024 and December 31, 2023: (in thousands) Fair Value Derivative Instrument Statement Location December 31, 2024 December 31, 2023 Foreign currency forward contract Other assets $ 538 $ — Foreign currency forward contract Accounts payable and accrued liabilities — 766 Total $ 538 $ 766 Net realized and unrealized gains and losses on derivative instruments recorded by the Company during the years ended December 31, 2024 and December 31, 2023 are in the following locations in the Consolidated Statements of Operations: (in thousands) Year Ended December 31, Derivative Instrument Statement Location 2024 2023 Foreign currency forward contract Net realized gain (loss) - Non-control / Non-affiliate investments $ (849) $ — Foreign currency forward contract Net change in unrealized appreciation (depreciation) - Non-control / Non-affiliate investments 1,305 (766) Total $ 456 $ (766) Investment Income The Company’s investment portfolio generates interest, fee, and dividend income. The composition of the Company’s interest income and fee income is as follows: (in thousands) Year Ended December 31, 2024 2023 2022 Contractual interest income $ 355,470 $ 351,883 $ 249,375 Exit fee interest income 44,448 45,747 32,063 PIK interest income 51,270 24,670 20,455 Dividend income 7,900 1,400 — Other investment income (1) 8,107 10,725 5,365 Total interest and dividend income $ 467,195 $ 434,425 $ 307,258 Recurring fee income $ 9,507 $ 8,835 $ 7,834 Fee income - expired commitments 2,442 1,695 1,502 Accelerated fee income - early repayments 14,447 15,713 5,094 Total fee income $ 26,396 $ 26,243 $ 14,430 (1) Other investment income includes OID interest income and interest recorded on other assets. As of December 31, 2024 and 2023, unamortized capitalized fee income was recorded as follows: (in millions) As of December 31, 2024 2023 Offset against debt investment cost $ 36.9 $ 32.9 Deferred obligation contingent on funding or other milestone 9.1 9.4 Total Unamortized Fee Income $ 46.0 $ 42.3 As of December 31, 2024 and 2023, loan exit fees receivable were recorded as follows: (in millions) As of December 31, 2024 2023 Included within debt investment cost $ 39.2 $ 35.9 Deferred receivable related to expired commitments 3.0 4.3 Total Exit Fees Receivable $ 42.2 $ 40.2

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt As of December 31, 2024 and December 31, 2023, the Company had the following available and outstanding debt: (in thousands) December 31, 2024 December 31, 2023 Total Available Principal Carrying Value (1) Total Available Principal Carrying Value (1) SBA Debentures (2)(4) $ 350,000 $ 279,000 $ 271,371 $ 175,000 $ 175,000 $ 170,323 July 2024 Notes — — — 105,000 105,000 104,828 February 2025 Notes 50,000 50,000 49,981 50,000 50,000 49,866 June 2025 Notes 70,000 70,000 69,919 70,000 70,000 69,757 June 2025 3-Year Notes 50,000 50,000 49,926 50,000 50,000 49,771 March 2026 A Notes 50,000 50,000 49,889 50,000 50,000 49,795 March 2026 B Notes 50,000 50,000 49,880 50,000 50,000 49,776 September 2026 Notes 325,000 325,000 323,321 325,000 325,000 322,339 January 2027 Notes 350,000 350,000 347,265 350,000 350,000 345,935 2031 Asset-Backed Notes 119,475 119,475 118,769 150,000 150,000 148,544 2033 Notes 40,000 40,000 39,043 40,000 40,000 38,935 MUFG Bank Facility (2) 400,000 116,000 116,000 400,000 61,000 61,000 SMBC Facility (2)(3)(5) 475,000 283,790 283,591 400,000 94,000 94,000 Total $ 2,329,475 $ 1,783,265 $ 1,768,955 $ 2,215,000 $ 1,570,000 $ 1,554,869 (1) Except for the SMBC Facility and MUFG Bank Facility, all carrying values represent the principal amount outstanding less the remaining unamortized debt issuance costs and unaccreted premium or discount, if any, associated with the debt as of the balance sheet date. (2) Availability subject to the Company meeting the borrowing base requirements. (3) “Total Available” includes $175.0 million of available commitment through the letter of credit facility as of December 31, 2024 and December 31, 2023. (4) As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV. (5) In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively. Debt issuance costs, net of accumulated amortization, were as follows as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 SBA Debentures $ 7,629 $ 4,677 July 2024 Notes — 172 February 2025 Notes 19 134 June 2025 Notes 81 243 June 2025 3-Year Notes 74 229 March 2026 A Notes 111 205 March 2026 B Notes 120 224 September 2026 Notes 1,679 2,661 January 2027 Notes 2,735 4,065 2031 Asset-Backed Notes 706 1,456 2033 Notes 957 1,065 MUFG Bank Facility (1) 1,770 3,540 SMBC Facility (1)(2) 2,693 1,775 Total $ 18,574 $ 20,446 (1) The MUFG Bank Facility and SMBC Facility are line-of-credit arrangements, the debt issuance costs associated with these instruments are included within Other assets on the Consolidated Statements of Assets and Liabilities in accordance with ASC Subtopic 835-30. (2) As part of the November 2024 amendment of the SMBC Facility, the existing revolver facility was split into a revolver facility and a term loan facility. The debt issuance costs, net of accumulated amortization of the revolver facility is $2.5 million and the term loan is $0.2 million. For the year ended December 31, 2024, the components of interest expense, related fees, losses on debt extinguishment and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2024 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 4,993 $ 621 $ — $ 5,614 $ 4,575 July 2024 Notes 2,706 172 — 2,878 5,008 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,016 June 2025 3-Year Notes 3,000 155 — 3,155 3,000 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,276 September 2026 Notes 8,697 815 — 9,512 8,531 January 2027 Notes 12,316 828 — 13,144 11,812 2031 Asset-Backed Notes (2) 7,464 394 — 7,858 7,321 2033 Notes 2,500 108 — 2,608 2,500 MUFG Bank Facility 11,931 1,770 1,949 15,650 11,866 SMBC Facility 13,862 735 785 15,382 13,555 Total $ 77,151 $ 6,073 $ 2,734 $ 85,958 $ 77,850 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2024, of $166 thousand, $503 thousand, and $185 thousand related to the September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) During the year ended December 31, 2024, we have recognized $171 thousand of loss on debt extinguishment for 2031 Asset-Backed Notes. For the year ended December 31, 2023, the components of interest expense, related fees, and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2023 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 4,562 $ 585 $ — $ 5,147 $ 4,562 July 2024 Notes 5,009 295 — 5,304 5,009 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,017 June 2025 3-Year Notes 3,000 155 — 3,155 3,000 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,276 September 2026 Notes 8,697 815 — 9,512 8,532 January 2027 Notes 12,316 828 — 13,144 11,812 2031 Asset-Backed Notes 7,613 399 — 8,012 7,425 2033 Notes 2,500 108 — 2,608 2,500 MUFG Bank Facility (2) 5,583 1,770 2,782 10,135 5,948 SMBC Facility 8,658 693 940 10,291 8,678 Total $ 67,620 $ 6,123 $ 3,722 $ 77,465 $ 67,149 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2023, of $166 thousand, $503 thousand, $188 thousand related to the September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) The June 2022 amendment of the MUFG Bank Facility replaced Union Bank Facility via an amendment as the lead lender. For the year ended December 31, 2022, the components of interest expense, related fees, and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2022 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 3,997 $ 581 $ — $ 4,578 $ 2,835 2022 Notes (3) 1,011 50 — 1,061 2,293 July 2024 Notes 5,009 295 — 5,304 5,009 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,017 June 2025 3-Year Notes 1,567 81 — 1,648 1,500 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,275 September 2026 Notes 8,698 815 — 9,513 8,531 January 2027 Notes 11,630 782 — 12,412 5,906 2031 Asset-Backed Notes 3,975 209 — 4,184 3,671 2033 Notes 2,500 108 — 2,608 2,500 2022 Convertible Notes (3) 923 148 — 1,071 5,004 MUFG Bank Facility (2) 4,548 941 2,285 7,774 4,097 SMBC Facility 1,209 315 513 2,037 1,047 Total $ 54,749 $ 4,800 $ 2,798 $ 62,347 $ 52,075 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2022, of $23 thousand, $112 thousand, $166 thousand, $475 thousand, and $98 thousand for the 2022 Notes, 2022 Convertible Notes, September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) The June 2022 amendment of the MUFG Bank Facility replaced Union Bank Facility via an amendment as the lead lender. (3) The Company fully redeemed the 2022 Notes on February 22, 2022 and fully repaid the 2022 Convertible Notes on February 1, 2022. The overall weighted average interest cost, cost of debt and debt outstanding for the Company for the years ended December 31, 2024 and 2023 were as follows: Year Ended December 31, (in thousands) 2024 2023 Weighted average interest cost 4.5 % 4.2 % Weighted average cost of debt (1) 5.0 % 4.8 % Weighted average debt outstanding 1,709,469 1,607,278 (1) Cost of debt includes interest and fees. As of December 31, 2024, December 31, 2023, and December 31, 2022, the Company was in compliance with the terms of all borrowing arrangements. There are no sinking fund requirements for any of the Company’s debt. SBA Debentures The Company held the following SBA debentures outstanding principal balances as of December 31, 2024 and December 31, 2023: (in thousands) Issuance/Pooling Date Maturity Date Interest Rate (1) December 31, 2024 December 31, 2023 March 26, 2021 September 1, 2031 1.58% $ 37,500 $ 37,500 June 25, 2021 September 1, 2031 1.58% 16,200 16,200 July 28, 2021 September 1, 2031 1.58% 5,400 5,400 August 20, 2021 September 1, 2031 1.58% 5,400 5,400 October 21, 2021 March 1, 2032 3.21% 14,000 14,000 November 1, 2021 March 1, 2032 3.21% 21,000 21,000 November 15, 2021 March 1, 2032 3.21% 5,200 5,200 November 30, 2021 March 1, 2032 3.21% 20,800 20,800 December 20, 2021 March 1, 2032 3.21% 10,000 10,000 December 23, 2021 March 1, 2032 3.21% 10,000 10,000 December 28, 2021 March 1, 2032 3.21% 5,000 5,000 January 14, 2022 March 1, 2032 3.21% 4,500 4,500 January 21, 2022 March 1, 2032 3.21% 20,000 20,000 November 8, 2024 (2) March 1, 2035 5.16% 30,000 — December 6, 2024 (2) March 1, 2035 5.12% 33,600 — December 12, 2024 (2) March 1, 2035 5.05% 8,400 — December 20, 2024 (2) March 1, 2035 5.01% 32,000 — Total SBA Debentures $ 279,000 $ 175,000 (1) Interest rates are determined initially at issuance and reset to a fixed rate at the debentures pooling date. The rates are inclusive of annual SBA charges. (2) As of December 31, 2024, $104.0 million of drawn SBA Debentures are scheduled to be pooled on March 26, 2025. The interest rate disclosed is the current effective interim interest rate. SBICs are subject to a variety of regulations and oversight by the SBA concerning the size and nature of the companies in which they may invest as well as the structures of those investments. The SBA as part of its oversight periodically examines and audits to determine SBICs' compliance with SBA regulations. HC IV and SBIC V each received their licenses to operate as an SBIC on October 27, 2020 and July 9, 2024, respectively, and each license has a 10 year term. Each license provides the Company access to up to $175.0 million of capital through the SBA debenture program, subject to maintaining certain capital commitments. HC IV has issued the entire $175.0 million in SBIC guaranteed debentures and SBIC V has issued $104.0 million of its SBA guaranteed debentures. SBA debentures bear fixed interest based on the treasury rate plus a spread applicable for the period the debentures are drawn. As of the latest debenture pooling date in December 2024, SBA debentures were issued with an interest rate of approximately 5.01%. The actual rates may vary depending on the timing of drawdown and pooling period. The Company's SBICs were in compliance with all SBIC terms, including those pertaining to the SBA debentures, as of December 31, 2024 and December 31, 2023. The following table summarizes information related to our SBICs as of December 31, 2024 and December 31, 2023. December 31, 2024 December 31, 2023 Description HC IV SBIC V HC IV SBIC V Number of investments held 33 11 25 — Fair value of investments (in millions) $ 377.7 $ 155.6 $ 331.5 $ — Percentage of fair value of investments based on the Company's total investment portfolio 10.3 % 4.3 % 10.2 % 0.0 % Tangible assets (in millions) $ 382.9 $ 157.8 $ 341.8 $ — Percentage of tangible assets based on the Company's total assets 10.0 % 4.1 % 10.0 % 0.0 % July 2024 Notes On July 16, 2019, the Company issued $105.0 million in aggregate principal amount of 4.77% interest-bearing unsecured notes due on July 16, 2024 (the “July 2024 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering. Interest on the July 2024 Notes is due semiannually. The July 2024 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. On July 16, 2024, the Company fully repaid the aggregate outstanding $105.0 million principal and $2.5 million of accrued interest pursuant to the terms of the July 2024 Notes. February 2025 Notes On February 5, 2020, the Company issued $50.0 million in aggregate principal amount of 4.28% interest-bearing unsecured notes due February 5, 2025 (the “February 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering. Interest on the February 2025 Notes is due semiannually. The February 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. See "Note 14 - Subsequent Events" for more information. June 2025 Notes On June 3, 2020, the Company issued $70.0 million in aggregate principal amount of 4.31% interest-bearing unsecured notes due June 3, 2025 (the “June 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering. Interest on the June 2025 Notes is due semiannually. The June 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. June 2025 3-Year Notes On June 23, 2022, the Company issued $50.0 million in aggregate principal amount of 6.00% interest-bearing unsecured notes due June 23, 2025 (the “June 2025 3-Year Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering. Interest on the June 2025 3-Year Notes is due semiannually. The June 2025 3-Year Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. March 2026 A Notes On November 4, 2020, the Company issued $50.0 million in aggregate principal amount of 4.50% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 A Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering. Interest on the March 2026 A Notes is due semiannually. The March 2026 A Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. March 2026 B Notes On March 4, 2021, the Company issued $50.0 million in aggregate principal amount of 4.55% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 B Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement pursuant note offering. Interest on the March 2026 B Notes is due semiannually. The March 2026 B Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. September 2026 Notes On September 16, 2021, the Company issued $325.0 million in aggregate principal amount of 2.625% interest-bearing unsecured notes due September 16, 2026 (the “September 2026 Notes”), unless repurchased in accordance with the terms of the Seventh Supplemental Indenture, dated September 16, 2021. Interest on the September 2026 Notes is payable semiannually in arrears on March 16 and September 16 of each year. The September 2026 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. January 2027 Notes On January 20, 2022, the Company issued $350.0 million in aggregate principal amount of 3.375% interest-bearing unsecured notes due January 20, 2027 (the “January 2027 Notes”), unless repurchased in accordance with the terms of the Eight Supplemental Indenture, dated January 20, 2022. Interest on the January 2027 Notes is payable semiannually in arrears on January 20 and July 20 of each year. The January 2027 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. The Company may redeem some or all of the January 2027 Notes at any time, or from time to time, at the redemption price set forth under the terms of the January 2027 Notes Indenture. 2031 Asset-Backed Notes On June 22, 2022, the Company completed a term debt securitization in connection with which an affiliate of the Company issued $150.0 million in aggregate principal amount of 4.95% interest-bearing asset-backed notes due on July 20, 2031 (the “2031 Asset-Backed Notes”). The 2031 Asset-Backed Notes were issued by Hercules Capital Funding Trust 2022-1 LLC (the “2022 Securitization Issuer”) pursuant to a note purchase agreement, dated as of June 22, 2022, by and among the Company, Hercules Capital Funding 2022-1 LLC, as trust depositor, the 2022 Securitization Issuer, and U.S. Bank Trust Company, N. A., as trustee, and are backed by a pool of senior loans made to certain portfolio companies of the Company and secured by certain assets of those portfolio companies and are to be serviced by the Company. Interest on the 2031 Asset-Backed Notes will be paid, to the extent of funds available. Under the terms of the 2031 Asset-Backed Notes, the Company is required to maintain a reserve cash balance, funded through proceeds from the sale of the 2031 Asset-Backed Notes and through interest and principal collections from the underlying securitized debt portfolio, which may be used to pay monthly interest and principal payments on the 2031 Asset-Backed Notes. The Company has segregated these funds and classified them as restricted cash. As of December 31, 2024 and 2023, there was approximately $3.3 million and $17.1 million, respectively, of funds segregated as restricted cash related to the 2031 Asset-Backed Notes. The reinvestment period for 2031 Asset-Backed Notes ended on July 20, 2024, and as a result all principal payments received from portfolio companies will no longer be eligible for reinvestment and will be utilized to pay down the outstanding principal amount. During the year ended December 31, 2024, the Company repaid $30.5 million of principal and accelerated recognition of $0.2 million of debt issuance costs associated with extinguishment of the debt. This is disclosed as “Loss on extinguishment of debt” in the Consolidated Statements of Operations. 2033 Notes On September 24, 2018, the Company issued $40.0 million in aggregate principal amount of 6.25% interest-bearing unsecured notes due October 30, 2033 (the “2033 Notes”), unless repurchased in accordance with the terms of the Sixth Supplemental Indenture to the Base Indenture, dated September 24, 2018. Interest on the 2033 Notes is payable quarterly in arrears on January 30, April 30, July 30, and October 30 of each year. The 2033 Notes trade on the NYSE under the symbol “HCXY.” The 2033 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. The Company may redeem some or all of the 2033 Notes at any time, or from time to time, at the redemption price set forth under the terms of the 2033 Notes indenture after October 30, 2023. Credit Facilities As of December 31, 2024 and December 31, 2023, the Company has two available credit facilities, the MUFG Bank Facility and the SMBC Facility (together, the “Credit Facilities”). For the year ended December 31, 2024 and 2023, the weighted average interest rate was 7.63% and 7.41%, respectively, and the average debt outstanding under the Credit Facilities was $338.0 million and $192.3 million, respectively. MUFG Bank Facility On January 13, 2023 , t he Company entered into a third amended credit facility agreement, which amends the agreement dated as of June 10, 2022. The Company, through a special purpose wholly owned subsidiary, Hercules Funding IV LLC (“Hercules Funding IV”), as borrower, entered into the credit facility (the “MUFG Bank Facility”) with MUFG Bank Ltd. as the arranger and administrative agent, and the lenders party to the MUFG Bank Facility from time to time. Under the MUFG Bank Facility, the lenders have made commitments of $400.0 million, which may be further increased via an accordion feature up to an aggregate $600.0 million, funded by existing or additional lenders and with the agreement of MUFG Bank and subject to other customary conditions. There can be no assurances that additional lenders will join the MUFG Bank Facility to increase available borrowings. Debt under the MUFG Bank Facility generally bears interest at a rate per annum equal to SOFR The MUFG Bank Facility also includes financial and other covenants applicable to the Company and the Company’s subsidiaries, in addition to those applicable to Hercules Funding IV, including covenants relating to certain changes of control of Hercules Funding IV. Among other things, these covenants require the Company to maintain certain financial ratios, including a minimum interest coverage ratio and a minimum tangible net worth with respect to Hercules Funding IV. The MUFG Bank Facility provides for customary events of default, including with respect to payment defaults, breach of representations and covenants, servicer defaults, certain key person provisions, cross default provisions to certain other debt, lien and judgment limitations, and bankruptcy. SMBC Facility On November 26, 2024, the Company entered into a fifth amendment (the "Fifth Amendment") to its revolving credit agreement, which amends the revolving credit agreement, dated as of November 9, 2021, with Sumitomo Mitsui Banking Corporation (the “SMBC Facility”), as administrative agent, and the lenders and issuing banks to the SMBC Facility. As of December 31, 2024, the SMBC Facility provides for borrowings in U.S. dollars and certain agreed upon foreign currencies of up to $300.0 million, from which the Company may access subject to certain conditions. The SMBC Facility contains an accordion feature, in which the Company can increase the credit line up to an aggregate of $500.0 million, funded by existing or additional lenders and with the agreement of SMBC Bank and subject to other customary conditions. Availability under the revolving SMBC Facility will terminate on November 24, 2028, and the outstanding loans under the SMBC Facility will mature on November 26, 2029. Borrowings under the SMBC Facility are subject to compliance with a borrowing base and an aggregate portfolio balance. The Company’s obligations under the SMBC Facility may in the future be guaranteed by certain of the Company’s subsidiaries and primarily secured by a first priority security interest (subject to certain exceptions) in only certain specified property and assets of the Company and the subsidiary guarantors thereunder. Interest under t he revolving portion of the S MBC Facility is determined by the nature and denomination of the borrowing. Interest rates are determined by the appropriate benchmark rate (SOFR, EURIBOR, Prime, CORRA, or TIBOR) as applicable for the type of borrowing plus an applicable margin adjustment which can range from 1.0% to 2.0% per annum subject to certain conditions. In addition to interest, the SMBC Facility is subject to a non-usage fee of 0.375% per annum (based on the immediately preceding period’s average usage) on the unused portion of the commitment under the SMBC Facility during the revolving period. The Company is required to pay letter of credit participation fees and a fronting fee on the average daily amount of any lender’s exposure with respect to any letters of credit issued under the SMBC Facility. In connection with the Fifth Amendment, $25.0 million of the total available commitment under the revolver facility was converted into a term loan (the “SMBC Term Loan”). The SMBC Term loan is a SOFR based interest-bearing plus 2.0% spread loan and will mature on November 26, 2029, unless repurchased in accordance with the terms of the SMBC Facility. Interest on the SMBC Term Loan is payable monthly, quarterly, or semiannually based on the SOFR tenor. The SMBC Term Loan is general unsecured obligations and rank pari passu, or equally in right of payment, with all outstan ding and future unsecured unsubordinated indebtedness issued by the Company. The Company may redeem some of all of SMBC Facility at any time, or from time to time, at the redemption price set forth under the terms of SMBC Facility Indenture. Additionally in January 2023, the Company entered into a Letter of Credit Facility Agreement (the “SMBC LC Facility”) with Sumitomo Mitsui Banking Corporation that provides for a letter of credit facility with a final maturity date ending on January 13, 2026 and a commitment amount of $175.0 million as amended. Further, the SMBC LC Facility includes an accordion provision to increase the commitment up to $400.0 million, subject to certain conditions. The Company’s obligations under the SMBC LC Facility may in the future be guaranteed by certain of the Company’s subsidiaries and is primarily secured by a first priority security interest (subject to certain exceptions) in only certain specified property and assets of the Company and any subsidiary guarantors thereunder. See “Note 14 - Subsequent Events" for more information.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The determination of taxable income pursuant to U.S. federal income tax regulations differs from U.S. GAAP. As a result, permanent differences are reclassified among capital accounts in the financial statements to reflect their appropriate tax character. During the years ended December 31, 2024, 2023 and 2022, the Company reclassified accumulated net realized gains (losses) to additional paid-in capital for book purposes primarily related to net realized gains from portfolio companies which are held in taxable subsidiaries and are not consolidated with the Company for income tax purposes, as follows: (in millions) Year Ended December 31, 2024 2023 2022 Reclassified accumulated net realized gains (losses) $ (1.3) $ 0.8 $ 3.0 During the years ended December 31, 2024, 2023 and 2022, the Company reclassified amounts from undistributed ordinary income or accumulated realized gains (losses) to additional paid-in capital for book purposes, as follows: (in thousands) Year Ended December 31, 2024 2023 2022 Undistributed net investment income (distributions in excess of investment income) $ (25,064) $ (18,396) $ (8,784) Accumulated realized gains (losses) 23,249 39,317 (834) Additional paid-in capital $ 1,815 $ (20,921) $ 9,618 For income tax purposes, distributions paid to stockholders are reported as ordinary income, long-term capital gains, return of capital, or a combination thereof. The tax character of distributions paid are as follows for each of the years ended: (in millions) Year Ended December 31, 2024 2023 2022 Ordinary income $ 286.1 $ 275.5 $ 203.7 Long-term capital gains 23.4 — 43.1 As of December 31, 2024, 2023 and 2022, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Consolidated Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the treatment of loan related yield enhancements. (in thousands) Year Ended December 31, 2024 2023 2022 Accumulated capital gains $ 11,137 $ (8,190) $ (3,102) Other temporary differences (25,107) (18,609) (20,100) Undistributed ordinary income 152,436 133,783 127,703 Unrealized appreciation (depreciation) (49,546) 33,029 (44,592) Components of distributable earnings $ 88,920 $ 140,013 $ 59,909 Taxable income and taxable net realized gains (losses) for the year ended December 31, 2024, 2023 and 2022 appears as follows: (in millions, except per share data) Year Ended December 31, 2024 2023 2022 Taxable Income $ 305.00 $ 283.00 $ 181.10 Taxable Income, Per Share $ 1.89 $ 1.96 $ 1.45 Taxable Net Realized Gains (Losses) $ 34.5 $ (8.2) $ (1.7) Taxable Net Realized Gains, Per Share $ 0.21 $ (0.06) $ (0.01) Weighted average shares outstanding 161.1 144.1 125.2 The aggregate gross unrealized appreciation and depreciation of the Company's investment over cost for U.S. federal income tax purposes appears as follows: (in millions) Year Ended December 31, 2024 2023 2022 Aggregate Gross Unrealized Appreciation $ 108.4 $ 118.3 $ 72.2 Aggregate Gross Unrealized Depreciation 156.5 115.9 112.0 Net Unrealized Appreciation (Depreciation) over cost for U.S. federal income tax purposes (48.1) 2.4 (39.8) Aggregate cost of securities for U.S. federal income tax purposes (in billions) 3.7 3.2 3.0 For the year ended December 31, 2024, the Company paid approximately $5.3 million of income tax, including excise tax, and had $6.7 million of accrued, but unpaid tax expense as of December 31, 2024. For the year ended December 31, 2023, the Company paid approximately $5.3 million of income tax, including excise tax, and had $6.0 million of accrued, but unpaid tax expense as of December 31, 2023. Additionally, the Company has taxable subsidiaries which hold certain portfolio investments in an effort to limit potential legal liability and/or comply with source-income type requirements contained in the RIC tax provisions of the Code. These taxable subsidiaries are consolidated for U.S. GAAP and the portfolio investments held by the taxable subsidiaries are included in the Company’s consolidated financial statements and are recorded at fair value. These taxable subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense, or benefit, and tax assets and liabilities as a result of their ownership of certain portfolio investments. Any income generated by these taxable subsidiaries generally would be subject to tax at normal U.S. federal tax rates based on its taxable income. In accordance with ASC 740, the Company evaluates tax positions taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold, or uncertain tax positions, would be recorded as a tax expense in the current year. It is the Company’s policy to recognize accrued interest and penalties, if any, related to unrecognized tax benefits as a component of provision for income taxes. Based on an analysis of the Company’s tax position, there are no uncertain tax positions that met the recognition or measurement criteria. The Company is currently not undergoing any tax examinations. The Company does not anticipate any significant increase or decrease in unrecognized tax benefits for the next twelve months. The 2020 – 2023 federal tax years for the Company remain subject to examination by the Internal Revenue Service. The 2019 – 2023 state tax years for the Company remain subject to examination by the state taxing authorities.

Stockholders' Equity and Distri

Stockholders' Equity and Distributions	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity and Distributions	Stockholders’ Equity and Distributions The Company has issued and outstanding 170,575 thousand and 157,758 thousand shares of common stock as of December 31, 2024 and December 31, 2023, respectively. The Company currently sell shares through its equity distribution agreements (the "2024 Equity Distribution Agreements") with Citizens JMP Securities LLC and Jefferies LLC (the "Sales Agents") entered into on December 12, 2024. The 2024 Equity Distribution Agreements provide that the Company may offer and sell up to 30.0 million shares of its common stock from time to time through the Sales Agents. Sales of the Company's common stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at the market,” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on the NYSE or similar securities exchange or sales made to or through a market maker other than on an exchange, at prices related to the prevailing market prices or at negotiated prices. The 2024 Equity Distribution Agreements replaced the ATM equity distribution agreements between the Company and the Sales Agents executed on May 5, 2023. The Company issued and sold the following shares of common stock during the years ended December 31, 2024, 2023, and 2022: (in millions, except per share data) Year Ending December 31, Number of Shares Issued Gross Proceeds Underwriting Fees/Offering Expenses Net Proceeds Average Price/Share 2024 11.7 $ 220.9 $ 2.6 $ 218.3 $ 18.62 2023 (1) 22.7 $ 344.3 $ 6.1 $ 338.2 $ 14.88 2022 14.6 $ 232.1 $ 2.4 $ 229.7 $ 15.77 (1) Included in the activity, is 6.5 million shares of common stock sold through an upsized public offering on August 7, 2023 pursuant to an underwriting agreement with Morgan Stanley & Co. LLC, UBS Securities, and Wells Fargo Securities, LLC as joint book-running managers. The Company generally uses net proceeds from these offerings to make investments, to repurchase or pay down liabilities and for general corporate purposes. As of December 31, 2024, approximately 30.0 million shares remain available for issuance and sale under the 2024 Equity Distribution Agreements. The Company currently pays quarterly distributions to its stockholders. The following table summarizes the Company’s distributions declared during the years ended December 31, 2024, 2023 and 2022: (in thousands, except per share data) Distribution Type Declared Date Record Date Payment Date Per Share Amount Total Amount Base February 16, 2022 March 9, 2022 March 16, 2022 $ 0.33 $ 39,794 Supplemental February 16, 2022 March 9, 2022 March 16, 2022 0.15 18,088 Base April 27, 2022 May 17, 2022 May 24, 2022 0.33 41,245 Supplemental April 27, 2022 May 17, 2022 May 24, 2022 0.15 18,748 Base July 20, 2022 August 9, 2022 August 16, 2022 0.35 44,765 Supplemental July 20, 2022 August 9, 2022 August 16, 2022 0.15 19,185 Base October 13, 2022 November 10, 2022 November 17, 2022 0.36 47,472 Supplemental October 13, 2022 November 10, 2022 November 17, 2022 0.15 19,780 Total distributions declared during the year ended December 31, 2022 $ 1.97 $ 249,077 Base February 9, 2023 March 2, 2023 March 9, 2023 $ 0.39 $ 53,749 Supplemental February 9, 2023 March 2, 2023 March 9, 2023 0.08 11,025 Base April 27, 2023 May 16, 2023 May 23, 2023 0.39 55,910 Supplemental April 27, 2023 May 16, 2023 May 23, 2023 0.08 11,469 Base July 28, 2023 August 18, 2023 August 25, 2023 0.40 60,445 Supplemental July 28, 2023 August 18, 2023 August 25, 2023 0.08 12,089 Base October 26, 2023 November 15, 2023 November 22, 2023 0.40 61,345 Supplemental October 26, 2023 November 15, 2023 November 22, 2023 0.08 12,269 Total distributions declared during the year ended December 31, 2023 $ 1.90 $ 278,301 Base February 8, 2024 February 28, 2024 March 6, 2024 $ 0.40 $ 63,359 Supplemental February 8, 2024 February 28, 2024 March 6, 2024 0.08 12,672 Base April 25, 2024 May 14, 2024 May 21, 2024 0.40 64,912 Supplemental April 25, 2024 May 14, 2024 May 21, 2024 0.08 12,982 Base July 25, 2024 August 13, 2024 August 20, 2024 0.40 64,953 Supplemental July 25, 2024 August 13, 2024 August 20, 2024 0.08 12,990 Base October 24, 2024 November 13, 2024 November 20, 2024 0.40 66,980 Supplemental October 24, 2024 November 13, 2024 November 20, 2024 0.08 13,396 Total distributions declared during the year ended December 31, 2024 $ 1.92 $ 312,244 In 2024, for income tax purposes, the distributions paid of $1.92 per share were comprised of $1.81 per share of ordinary income and $0.11 per share of long-term capital gains. As of December 31, 2024, the Company estimates that it has generated undistributed taxable earnings “spillover” of $0.96 per share. The undistributed taxable earnings spillover will be carried forward toward distributions to be paid in accordance with RIC requirements.

Equity Incentive Plans

Equity Incentive Plans	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans The Company grants equity-based awards to employees and non-employee directors for the purpose of attracting and retaining the services of its executive officers, key employees, and members of the Board. The Company’s equity-based awards are granted under the 2018 Equity Incentive Plan (the “2018 Plan”) for employees and 2018 Non-Employee Director Plan (the “Director Plan”) for non-employee directors. The 2018 Plan and the Director Plan were approved by stockholders on June 28, 2018 and unless earlier terminated by the Board, terminate on May 12, 2028. Subject to certain adjustments and permitted reversions of shares, the maximum aggregate number of shares that may be authorized for issuance under awards granted under the 2018 Plan and Director Plan is 9,261,229 shares and 300,000 shares, respectively. In connection with the issuance of shares under the 2018 Plan and Director Plan, the Company has registered, in aggregate, 18.7 million and 300,000 shares of common stock, respectively. The Company has received exemptive relief from the SEC that permits it to issue restricted stock to non-employee directors under the Director Plan and restricted stock and restricted stock units to certain of its employees, officers, and directors (excluding non-employee directors) under the 2018 Plan. The exemptive order also allows participants in the Director Plan and the 2018 Plan to (i) elect to have the Company withhold shares of its common stock to pay for the exercise price and applicable taxes with respect to an option exercise (“net issuance exercise”) and/or (ii) permit the holders of restricted stock to elect to have the Company withhold shares of its stock to pay the applicable taxes due on restricted stock at the time of vesting. Each individual employee would be able to make a cash payment to satisfy applicable tax withholding at the time of option exercise or vesting on restricted stock. The Company has granted equity-based awards that have service and performance conditions. Certain of the Company’s equity-based awards are classified as liability awards in accordance with ASC Topic 718, Compensation – Stock Compensation. All of the Company’s equity-based awards require future service and are expensed over the relevant service period. The Company does not estimate forfeitures, and reverses all unvested costs associated with equity-awards in the period they are forfeited. For the years ended December 31, 2024, 2023, and 2022, the Company recognized $12.8 million, $13.2 million, and $13.4 million of stock-based compensation expense in the Consolidated Statements of Operations, respectively. As of December 31, 2024 and 2023, approximately $18.6 million and $21.7 million of total unrecognized compensation costs expected to be recognized over the next 2.7 and 3.5 years, respectively. Service-Vesting Awards The Company grants equity-based awards which have service conditions, which generally begin to vest one-third after one year after the date of grant and ratably over the succeeding two years in accordance with the individual award terms. Certain awards have service conditions of longer duration and may begin to vest up to seven years after the date of grant. These equity-based awards which vest upon achievement of service conditions are collectively referred to as the “Service Vesting Awards”. The grant date fair value of Service Vesting Awards granted during the years ended December 31, 2024, 2023, and 2022, were approximately $16.8 million, $22.2 million and $11.1 million, respectively. The Company has granted restricted stock equity awards in the form of restricted stock awards and restricted stock units. The Company determines the grant date fair values of restricted stock equity awards using the grant date stock close price. The activities for the Company's unvested restricted stock equity awards for each of the three years ended December 31, 2024, 2023, and 2022 are summarized below: Year ended, December 31, 2024 2023 2022 Shares Weighted Average Grant Date Fair Value per Share Shares Weighted Average Grant Date Fair Value per Share Shares Weighted Average Grant Date Fair Value per Share Unvested Shares Beginning of Period 1,880,409 $ 14.52 958,985 $ 16.35 1,037,848 $ 14.51 Granted 1,055,861 $ 15.77 1,565,571 $ 14.07 632,831 $ 17.24 Vested (1) (813,183) $ 14.54 (632,575) $ 16.15 (686,030) $ 14.40 Forfeited (62,655) $ 12.96 (11,572) $ 15.42 (25,664) $ 16.00 Unvested Shares End of Period 2,060,432 $ 12.24 1,880,409 $ 14.52 958,985 $ 16.35 (1) With respect to certain restricted stock equity awards granted prior to January 1, 2019, receipt of the shares of the Company’s common stock underlying vested restricted stock equity awards were deferred for four years from grant date unless certain conditions are met. Accordingly, such vested restricted stock equity awards were not issued as common stock upon vesting until the completion of the deferral period. In addition to the restricted stock equity-based awards, the Company has also issued stock options to certain employees. The fair value of options granted during the years ended December 31, 2024, 2023, and 2022, was approximately $159,000, $148,000 and $166,000, respectively. During the years ended December 31, 2024, 2023, and 2022, approximately $133,000, $105,000, and $76,000 of share-based cost due to stock option grants was expensed, respectively. Performance-Vesting Awards The Company has granted equity-based awards, which have market and performance conditions in addition to a service condition (“Performance Awards”). The value of these awards may increase dependent on increases to the Company’s total stockholder return (“TSR”). As of December 31, 2024, 2023, or 2022, there were no unvested Performance Awards. During the year ended December 31, 2024 and 2023, no Performance Awards were granted or vested. During the year ended December 31, 2024, no shares of distribution equivalent units (“Performance DEUs”) were issued or vested. During the year ended December 31, 2023, 54,858 Performance DEUs were issued and vested immediately with a grant date fair value of $0.7 million. During the year ended December 31, 2022, 639,413 Performance DEUs were issued and vested immediately with a grant date fair value of $6.2 million. Liability Classified Awards The Company has granted equity-based awards which are subject to both service and performance conditions. These awards are settled either in cash or a fixed dollar value of shares, subject to the terms of each individual award, and therefore classified as liability awards (the “Liability Awards”). As of December 31, 2024, all Liability Awards have vested and have been settled. Generally, if the performance conditions of these types of awards are not met, the total compensation expense related to the Liability Awards may be less than the maximum granted value of the awards. The Company records Liability Awards as deferred compensation within Accounts Payable and Accrued Liabilities included on the Consolidated Statements of Assets and Liabilities. Certain Liability Awards are structured similar to the Performance Awards and increase in value with corresponding increases to the Company’s TSR and vest after four years. The Company remeasures the value of these awards each period based on the Company’s TSR achieved to date. Certain other Liability Awards are linked to attainment of investment funding goals. The Company determines the fair value of these Liability Awards based on the expected probability of the performance conditions being met and recognized over the service period. The Company accrues for Liability Awards based on the expected probability that the performance conditions would be met, this assumption is re-evaluated each period, and may be adjusted to reflect changes in this assumption. Generally, the other Liability Awards vest over a three years service term. During the year ended December 31, 2024, approximately $0.5 million of compensation expense related to the Liability Awards recognized in the Consolidated Statements of Operations and no amounts remain outstanding. During the year ended December 31, 2024 and 2023, $3.1 million and no Liability Awards vested, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Shares used in the computation of the Company’s basic and diluted earnings per share are as follows: (in thousands, except per share data) Year Ended December 31, 2024 2023 2022 Numerator Net increase (decrease) in net assets resulting from operations $ 262,966 $ 337,484 $ 102,081 Less: Total distributions declared (312,244) (278,301) (249,077) Total Earnings (loss), net of total distributions (49,278) 59,183 (146,996) Earnings (loss), net of distributions attributable to common shares (49,278) 58,593 (146,995) Add: Distributions declared attributable to common shares 309,413 275,548 246,873 Numerator for basic and diluted change in net assets per common share $ 260,135 $ 334,141 $ 99,878 Denominator Basic weighted average common shares outstanding 161,082 144,091 125,189 Common shares issuable 517 735 1,470 Weighted average common shares outstanding assuming dilution 161,599 144,826 126,659 Change in net assets per common share: Basic $ 1.61 $ 2.32 $ 0.80 Diluted $ 1.61 $ 2.31 $ 0.79 In the table above, unvested share-based payment awards that have non-forfeitable rights to distributions or distribution equivalents are treated as participating securities for calculating earnings per share. Unvested common stock options and restricted stock units are also considered for the purpose of calculating diluted earnings per share. The calculation of change in net assets resulting from operations per common share—assuming dilution, excludes all anti-dilutive shares. For the years ended December 31, 2024, 2023 and 2022, the number of anti-dilutive shares, as calculated based on the weighted average closing price of the Company’s common stock for the periods, are as follows: Year Ended December 31, Anti-dilutive Securities 2024 2023 2022 Unvested common stock options 1,105 1,496 2,085 Restricted stock units — 4,357 — Unvested restricted stock awards 298 30,028 2,116

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2024
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Financial Highlights Following is a schedule of financial highlights for the ten years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015: (in thousands, except per share data and ratios) Year Ended December 31, 2024 2023 2022 2021 2020 2019 (7) 2018 (7) 2017 (7) 2016 (7) 2015 (7) Per share data: (1) Net asset value at beginning of period $ 11.43 $ 10.53 $ 11.22 $ 11.26 $ 10.55 $ 9.90 $ 9.96 $ 9.90 $ 9.94 $ 10.18 Net investment income 2.02 2.11 1.50 1.29 1.39 1.41 1.20 1.17 1.36 1.06 Net realized gain (loss) (0.20) 0.06 (0.01) 0.18 (0.50) 0.16 (0.12) (0.32) 0.06 0.07 Net unrealized appreciation (depreciation) (0.19) 0.17 (0.68) 0.03 1.13 0.14 (0.23) 0.11 (0.49) (0.51) Total from investment operations 1.63 2.34 0.81 1.50 2.02 1.71 0.85 0.96 0.93 0.62 Net increase (decrease) in net assets from capital share transactions (1) 0.45 0.44 0.34 (0.08) 0.01 0.20 0.23 0.26 0.18 0.26 Distributions of net investment income (6) (1.79) (1.93) (1.63) (1.06) (1.03) (1.15) (1.26) (1.07) (1.14) (1.04) Distributions of capital gains (6) (0.15) — (0.36) (0.49) (0.36) (0.18) — (0.18) (0.11) (0.22) Stock-based compensation expense included in net investment income and other movements (2) 0.09 0.05 0.15 0.09 0.07 0.07 0.12 0.09 0.10 0.14 Net asset value at end of period $ 11.66 $ 11.43 $ 10.53 $ 11.22 $ 11.26 $ 10.55 $ 9.90 $ 9.96 $ 9.90 $ 9.94 Ratios and supplemental data: Per share market value at end of period $ 20.09 $ 16.67 $ 13.22 $ 16.59 $ 14.42 $ 14.02 $ 11.05 $ 13.12 $ 14.11 $ 12.19 Total return (3) 32.78 % 42.00 % (10.14) % 25.62 % 14.31 % 39.36 % (7.56) % 1.47 % 26.87 % (9.70) % Shares outstanding at end of period 170,575 157,758 133,045 116,619 114,726 107,364 96,501 84,424 79,555 72,118 Weighted average number of common shares outstanding 161,082 144,091 125,189 114,742 111,985 101,132 90,929 82,519 73,753 69,479 Net assets at end of period $ 1,989,581 $ 1,802,706 $ 1,401,459 $ 1,308,547 $ 1,291,704 $ 1,133,049 $ 955,444 $ 840,967 $ 787,944 $ 717,134 Ratio of total expense to average net assets (4) 9.01 % 9.92 % 9.92 % 9.86 % 11.30 % 11.95 % 10.73 % 11.37 % 11.25 % 11.55 % Ratio of net investment income before investment gains and losses to average net assets (4) 17.50 % 19.26 % 13.96 % 11.28 % 13.64 % 13.74 % 11.78 % 11.61 % 13.65 % 10.15 % Portfolio turnover rate (5) 27.33 % 31.95 % 19.29 % 51.58 % 32.38 % 31.30 % 38.76 % 49.03 % 36.22 % 46.34 % Weighted average debt outstanding $ 1,709,469 $ 1,607,278 $ 1,468,335 $ 1,248,177 $ 1,309,903 $ 1,177,379 $ 826,931 $ 784,455 $ 635,365 $ 615,198 Weighted average debt per common share $ 10.61 $ 11.15 $ 11.73 $ 10.88 $ 11.70 $ 11.64 $ 9.09 $ 9.51 $ 8.61 $ 8.85 (1) All per share activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date. (2) Adjusts for the impact of stock-based compensation expense, which is a non-cash expense and has no net impact to net asset value. Pursuant to ASC Topic 718, the expense is offset by a corresponding increase in paid-in capital. Additionally, adjusts for other items attributed to the difference between certain per share data based on the weighted-average basic shares outstanding and those calculated using the shares outstanding as of a period end or transaction date. (3) The total return for the years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015 equals to the change in the ending market value over the beginning of the period price per share plus distributions paid per share during the period, divided by the beginning price assuming the distribution is reinvested on the date of the distribution. As such, the total return is not annualized. The total return does not reflect any sales load that must be paid by investors. (4) The ratios are calculated based on weighted average net assets for the relevant period and are annualized. (5) The portfolio turnover rate for the years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015 equals to the lesser of investment portfolio purchases or sales during the period, divided by the average investment portfolio value during the period. As such, portfolio turnover rate is not annualized. (6) Includes distributions on unvested restricted stock awards. (7) Not covered by the Independent Registered Public Accounting Firm's report included in this Annual Report.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company’s commitments and contingencies consist primarily of unfunded commitments to extend credit in the form of loans to the Company’s portfolio companies. As of December 31, 2024, a portion of these unfunded contractual commitments are dependent upon the portfolio company reaching certain milestones before the debt commitment becomes available. Furthermore, the Company’s credit agreements with its portfolio companies generally contain customary lending provisions which allow the Company relief from funding obligations for previously made unfunded commitments in instances where the underlying portfolio company experiences materially adverse events that affect the financial condition or business outlook for the portfolio company. Since a portion of these commitments may expire without being drawn, unfunded contractual commitments do not necessarily represent future cash requirements. As such, the Company’s disclosure of unfunded contractual commitments includes only those which are available at the request of the portfolio company and unencumbered by future or unachieved milestones. As of December 31, 2024 and December 31, 2023, the Company had approximately $448.5 million and $335.3 million, respectively, of available unfunded commitments, including undrawn revolving facilities, which were available at the request of the portfolio company and unencumbered by future or unachieved milestones. In order to draw a portion of the Company's available unfunded commitments, a portfolio company must submit to the Company a formal funding request that complies with the applicable advance notice and other operational requirements. The amounts disclosed exclude unfunded commitments (i) for which, with respect to a portfolio company's agreement, a milestone was achieved after the last day on which the portfolio company could have requested a drawdown funding to be completed within the reporting period; and (ii) related to the portion of portfolio company investments assigned to or directly committed by the Adviser Funds as described in “Note -13 Related Party Transactions”. The fair value of the Company’s unfunded commitments is considered to be immaterial as the yield determined at the time of underwriting is expected to be materially consistent with the yield upon funding, given that interest rates are generally pegged to market indices and given the existence of milestones, conditions and/or obligations embedded in the borrowing agreements. As of December 31, 2024 and December 31, 2023, the Company’s unfunded contractual commitments available at the request of the portfolio company, including undrawn revolving facilities, and unencumbered by milestones were as follows: (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 Debt Investments: Earnix, Inc. $ 41,250 $ — Arcus Biosciences, Inc. 37,500 — Thumbtack, Inc. 30,000 40,000 GoEuro Travel GmbH 26,250 — Armis, Inc. 25,000 — Marathon Health, LLC 24,250 — Disc Medicine, Inc. 22,500 — Pindrop Security, Inc. 19,375 — Coronet Cyber Security Ltd. 17,000 — Locus Robotics Corp. 16,250 — Akero Therapeutics, Inc. 15,000 15,000 Dragos, Inc. 13,000 13,000 Aryaka Networks, Inc. 12,500 — WellBe Senior Medical, LLC 12,000 — Harness, Inc. 11,550 — Alector, Inc. 10,500 — CoreView USA, Inc. 10,000 — Strive Health Holdings, LLC 8,299 — Suzy, Inc. 8,000 12,000 Heron Therapeutics, Inc. 8,000 4,000 Viridian Therapeutics, Inc. 8,000 — PayIt, LLC 8,000 — Curana Health Holdings, LLC 7,500 — ATAI Life Sciences N.V. 7,000 — Dashlane, Inc. 5,000 2,137 Babel Street 4,367 3,375 (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 AlphaSense, Inc. $ 4,000 $ — Saama Technologies, LLC 3,875 3,875 Allvue Systems, LLC 3,590 3,590 LogRhythm, Inc. 3,143 — Zappi, Inc. 2,571 2,571 Loftware, Inc. 2,277 2,277 Streamline Healthcare Solutions 2,200 2,200 New Relic, Inc. 2,176 2,176 Sumo Logic, Inc. 2,000 2,000 Ceros, Inc. 1,707 1,707 LogicSource 1,209 1,209 TaxCalc 1,166 — LinenMaster, LLC 1,000 1,000 3GTMS, LLC 886 1,182 Main Street Rural, Inc. 874 10,500 Fortified Health Security 840 840 Omeda Holdings, LLC 731 731 Flight Schedule Pro, LLC 646 639 DroneDeploy, Inc. 625 6,250 Dispatch Technologies, Inc. 563 625 ShadowDragon, LLC 333 333 Zimperium, Inc. 196 3,727 Automation Anywhere, Inc. — 29,400 Checkr Group, Inc. — 23,625 Skydio, Inc. — 22,500 Tarsus Pharmaceuticals, Inc. — 20,625 Kura Oncology, Inc. — 19,250 Tipalti Solutions Ltd. — 10,500 Next Insurance, Inc. — 10,000 Senseonics Holdings, Inc. — 8,750 Elation Health, Inc. — 7,500 Modern Life, Inc. — 6,500 Phathom Pharmaceuticals, Inc. — 6,120 Brain Corporation — 5,000 Leapwork ApS — 3,900 Riviera Partners LLC — 3,000 Cutover, Inc. — 2,650 Plentific Ltd — 2,625 Altumint, Inc. — 2,500 Yipit, LLC — 2,250 Annex Cloud — 1,750 ThreatConnect, Inc. — 1,600 Ikon Science Limited — 1,050 Agilence, Inc. — 800 Constructor.io Corporation — 625 Enmark Systems, Inc. — 457 Alchemer LLC — 445 Cybermaxx Intermediate Holdings, Inc. — 390 Cytracom Holdings LLC — 72 Total Unfunded Debt Commitments: 444,699 330,828 (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 Investment Funds & Vehicles (2) Forbion Growth Opportunities Fund II C.V. 2,072 2,748 Forbion Growth Opportunities Fund I C.V. 1,757 1,757 Total Unfunded Commitments in Investment Funds & Vehicles: 3,829 4,505 Total Unfunded Commitments $ 448,528 $ 335,333 (1) For debt investments, amounts represent unfunded commitments, including undrawn revolving facilities, which are available at the request of the portfolio company. Amount excludes unfunded commitments which are unavailable due to the borrower having not met certain milestones. These amounts also exclude $139.7 million and $127.7 million of unfunded commitments as of December 31, 2024, and December 31, 2023, respectively, to portfolio companies related to loans assigned to or directly committed by the Adviser Funds as described in “Note -13 Related Party Transactions”. (2) For investment funds and vehicles, the amount represents uncalled capital commitments in private equity funds. The following table provides additional information on the Company’s unencumbered unfunded commitments regarding milestones, expirations and type: (in thousands) December 31, 2024 December 31, 2023 Unfunded Debt Commitments: Expiring during: 2024 $ — $ 291,896 2025 251,941 3,004 2026 147,840 7,537 2027 10,553 14,078 2028 6,040 6,547 2029 24,149 3,590 2030 4,176 4,176 Total Unfunded Debt Commitments 444,699 330,828 Unfunded Commitments in Investment Funds & Vehicles: Expiring during: 2030 1,757 1,757 2032 2,072 2,748 Total Unfunded Commitments in Investment Funds & Vehicles 3,829 4,505 Total Unfunded Commitments $ 448,528 $ 335,333 The following tables provide the Company’s contractual obligations as of December 31, 2024 and December 31, 2023: As of December 31, 2024: Payments due by period (in thousands) Contractual Obligations (1) Total Less than 1 year 1 - 3 years 3 - 5 years After 5 years Debt (2)(3) $ 1,783,265 $ 170,000 $ 891,000 $ 283,790 $ 438,475 Lease and License Obligations (4) 23,976 3,246 6,640 5,589 8,501 Total $ 1,807,241 $ 173,246 $ 897,640 $ 289,379 $ 446,976 As of December 31, 2023: Payments due by period (in thousands) Contractual Obligations (1) Total Less than 1 year 1 - 3 years 3 - 5 years After 5 years Debt (5)(3) $ 1,570,000 $ 105,000 $ 689,000 $ 411,000 $ 365,000 Lease and License Obligations (4) 26,741 2,539 6,629 6,248 11,325 Total $ 1,596,741 $ 107,539 $ 695,629 $ 417,248 $ 376,325 (1) Excludes commitments to extend credit to the Company’s portfolio companies and uncalled capital commitments in investment funds. (2) Includes $279.0 million in principal outstanding under the SBA Debentures, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $119.5 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes, and $350.0 million of the January 2027 Notes as of December 31, 2024. There was also $283.8 million outstanding under the SMBC Facility and $116.0 million outstanding under the MUFG Bank Facility as of December 31, 2024. (3) Amounts represent future principal repayments and not the carrying value of each liability. See “Note 5 – Debt”. (4) Leases and license obligations includes contractual amounts related to short-term leases. (5) Includes $175.0 million in principal outstanding under the SBA Debentures, $105.0 million of the July 2024 Notes, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $150.0 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes and $350.0 million of the January 2027 Notes as of December 31, 2023. There was also $94.0 million outstanding under the SMBC Facility and $61.0 million outstanding under the MUFG Bank Facility as of December 31, 2023. Certain premises are leased or licensed under agreements which expire at various dates through July 2034. Total rent expense, including short-term leases, amounted to approximately $3.5 million, $3.4 million, and $3.2 million, during the years ended December 31, 2024, 2023, and 2022, respectively. The Company recognizes an operating lease liability and a ROU asset for all leases, with the exception of short-term leases. The lease payments on short-term leases are recognized as rent expense on a straight-line basis. The discount rate applied to measure each ROU asset and lease liability is based on the Company’s incremental weighted average cost of debt. The Company considers the general economic environment and its credit rating and factors in various financing and asset specific adjustments to ensure the discount rate applied is appropriate to the intended use of the underlying lease. While some of the leases contained options to extend and terminate, it is not reasonably certain that either option will be utilized and therefore, only the payments in the initial term of the leases were included in the lease liability and ROU asset. The following table sets forth information related to the measurement of the Company’s operating lease liabilities and supplemental cash flow information related to operating leases as of December 31, 2024 and 2023: (in thousands) Year Ended December 31, 2024 Year Ended December 31, 2023 Total operating lease cost $ 2,873 $ 2,382 Cash paid for amounts included in the measurement of lease liabilities $ 1,865 $ 2,499 As of December 31, 2024 As of December 31, 2023 Weighted-average remaining lease term (in years) 7.81 8.68 Weighted-average discount rate 6.85 % 6.79 % The following table shows future minimum lease payments under the Company’s operating leases and a reconciliation to the operating lease liability as of December 31, 2024: (in thousands) As of December 31, 2024 2025 $ 3,088 2026 3,179 2027 3,452 Thereafter 14,090 Total lease payments 23,809 Less: imputed interest & other items (5,615) Total operating lease liability $ 18,194 The Company may, from time to time, be involved in litigation arising out of its operations in the normal course of business or otherwise. Furthermore, third parties may try to seek to impose liability on the Company in connection with the activities of its portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, the Company does not expect any current matters will materially affect the Company’s financial condition or results of operations; however, there can be no assurance whether any pending legal proceedings will have a material adverse effect on the Company’s financial condition or results of operations in any future reporting period.

Indemnification

Indemnification	12 Months Ended
	Dec. 31, 2024
Indemnification [Abstract]
Indemnification	Indemnification The Company has entered into indemnification agreements with its directors and executive officers. The indemnification agreements are intended to provide its directors and executive officers the maximum indemnification permitted under Maryland law and the 1940 Act. Each indemnification agreement provides that the Company shall indemnify the director or executive officer who is a party to the agreement, or an “Indemnitee,” including the advancement of legal expenses, if, by reason of his or her corporate status, the Indemnitee is, or is threatened to be, made a party to or a witness in any threatened, pending, or completed proceeding, to the maximum extent permitted by Maryland law and the 1940 Act.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As disclosed in “Note 1 - Description of Business”, the Adviser Subsidiary is the Company's wholly owned registered investment adviser business, comprised of the collectively held and presented entities Hercules Adviser LLC, Hercules Capital Management, LLC, and Hercules Partner Holdings, LLC entities. The Adviser Subsidiary is accounted for as a portfolio investment of the Company held at fair value. The Adviser Subsidiary has entered into investment management agreements with its privately offered Adviser Funds, and it receives management fees based on the assets under management of the Adviser Funds. In addition, the general partner interests (the “GP Interests”) held by Hercules Partner Holdings, LLC may receive incentive fees based on the performance of the Adviser Funds. Both the Adviser Subsidiary and Hercules Partner Holdings, LLC are owned by Hercules Capital Management LLC. The following table summarized the total income from the Adviser Subsidiary for the years ended December 31, 2024 and 2023: (in millions) Year Ended December 31, 2024 2023 Interest income $ 0.6 $ 0.6 Dividend income 6.8 1.4 Refer to “Note 4 – Investments” for additional information related to income, gains and losses recognized related to the Company’s investment. The Company has a shared services agreement (“Sharing Agreement”) with the Adviser Subsidiary, through which the Adviser Subsidiary has access to the Company's human capital resources (including administrative functions) and other resources and infrastructure (including office space and technology). Under the terms of the Sharing Agreement, the Company allocates the related expenses of shared services to the Adviser Subsidiary based on direct time spent, investment activity, and proportion of assets under management depending on the nature of the expense. The Company’s total expenses for the years ended December 31, 2024 and 2023, are net of expenses allocated to the Adviser Subsidiary of $10.8 million and $9.1 million, respectively. As of December 31, 2024 and 2023, there was less than $0.1 million and $0.1 million receivable, respectively from the Adviser Subsidiary. In addition, the Company may from time-to-time make investments alongside the Adviser Funds or assign a portion of investments to the Adviser Funds in accordance with the Company’s allocation policy. The assigned investment activities for the years ended December 31, 2024 and 2023, are summarized below: (in millions) Year Ended December 31, 2024 2023 Investment commitments assigned to or directly committed by the Advisor Funds $ 562.1 $ 595.6 Investment fundings assigned to, directly originated or funded by the Advisor Funds 383.2 350.7 Amounts received by the Company from the Advisor Funds relating to assigned investments 6.0 12.1

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividend Distribution Declaration On February 6, 2025, the Board declared (i) a fourth quarter cash distribution of $0.40 per share and (ii) a supplemental cash distribution of $0.28 per share, to be paid in four quarterly distributions of $0.07 per share beginning with the first quarter of 2025 (the “$0.28 Supplemental Cash Distribution”). The fourth quarter cash distribution and the first quarterly distribution of the $0.28 Supplemental Cash Distribution (a total of $0.47 per share) will be paid on March 5, 2025 to stockholders of record as of February 26, 2025. February 2025 Notes Redemption On February 5, 2025, the Company fully repaid the aggregate outstanding $50.0 million principal and $1.1 million of accrued interest pursuant to the terms of the February 2025 Notes. Third Amendment to the SMBC LC Facility On February 5, 2025, the Company entered into the Third Amendment to the SMBC LC Facility (the “SMBC Third Amendment to LC Facility Agreement”), which amends the Letter of Credit Facility Agreement, dated as of January 13, 2023, as amended by the First Amendment to Letter of Credit Facility Agreement, dated as of March 21, 2023, and the Second Amendment to Letter of Credit Facility Agreement, dated as of June 28, 2024 (collectively, the “SMBC LC Facility Agreement” and, as amended by the SMBC Third Amendment to LC Facility Agreement, the “SMBC Amended LC Facility Agreement”) with SMBC, as issuing bank. The SMBC Third Amendment to LC Facility Agreement amends certain provisions of the SMBC LC Facility Agreement to, among other things, (i) change the margin that applies with respect to any “term benchmark” disbursement or “RFR” disbursement, if the borrowing base is less than the product of 1.60 and the letter of credit exposure, from 1.475% to 1.450%, (ii) change the commitment fee the Company will pay to SMBC from 0.35% to 0.40% per annum on the average daily unused amount of the then-current commitment, and (iii) extend the final maturity date of the SMBC LC Facility from January 13, 2026, to February 5, 2028. Equity Offering As of February 6, 2025, through its ATM program, the Company sold 2.0 million shares of common stock for $39.8 million of net proceeds.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net increase (decrease) in net assets resulting from operations	$ 262,966	$ 337,484	$ 102,081

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Scott Bluestein [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 27, 2024, Scott Bluestein, chief executive officer and director, adopted a written plan for the sale of our common stock that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan covered the sale of up to 100,000 shares of the Company’s common stock over a period commencing after the later of (1) 91 days from the adoption date or (2) the earlier of (a) the third business day following the public disclosure of the Company’s financial results on Form 10-Q for the quarter ended June 30, 2024 or (b) 121 days after the adoption date, and terminated on December 15, 2024 or upon the earlier completion of all authorized transactions under the plan. On September 26, 2024, all authorized transactions were completed under the plan and the plan terminated.

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

N-2

N-2 - USD ($)	1 Months Ended	3 Months Ended								12 Months Ended
	Feb. 06, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cover [Abstract]
Entity Central Index Key										0001280784
Amendment Flag										false
Securities Act File Number										814-00702
Document Type										10-K
Entity Registrant Name										HERCULES CAPITAL, INC.
Entity Address, Address Line One										1 North B Street
Entity Address, Address Line Two										Suite 2000
Entity Address, City or Town										San Mateo
Entity Address, State or Province										CA
Entity Address, Postal Zip Code										94401
City Area Code										650
Local Phone Number										289-3060
Entity Well-known Seasoned Issuer										Yes
Entity Emerging Growth Company										false
Fee Table [Abstract]
Shareholder Transaction Expenses [Table Text Block]										The following table is intended to assist you in understanding the various costs and expenses that an investor in our common stock will bear directly or indirectly. However, we caution you that some of the percentages indicated in the table below are estimates and may vary. The footnotes to the fee table state which items are estimates. Except where the context suggests otherwise, whenever this prospectus contains a reference to fees or expenses paid by “you” or “us” or that “we” will pay fees or expenses, stockholders will indirectly bear such fees or expenses as investors in Hercules Capital, Inc. Stockholder Transaction Expenses (as a percentage of the public offering price): Sales load (as a percentage of offering price) (1) — % Offering expenses — % (2) Dividend reinvestment plan fees — % (3) Total stockholder transaction expenses (as a percentage of the public offering price) — % (4) Annual Expenses (as a percentage of net assets attributable to common stock): (5) Operating expenses 4.38 % (6)(7) Interest and fees paid in connection with borrowed funds 4.62 % (8) Acquired fund fees and expenses 0.01 % (10) Total annual expenses 9.01 % (9) (1) In the event that our securities are sold to or through underwriters, a corresponding prospectus supplement to the Prospectus will disclose the applicable sales load. (2) In the event that we conduct an offering of our securities, a corresponding prospectus supplement to this prospectus will disclose the estimated offering expenses. (3) The expenses associated with the administration of our dividend reinvestment plan are included in “Operating expenses.” We pay all brokerage commissions incurred with respect to open market purchases, if any, made by the administrator under the plan. For more details about the plan, see “Dividend Reinvestment Plan.” (4) Total stockholder transaction expenses may include sales load and will be disclosed in a future prospectus supplement, if any. (5) “Net assets attributable to common stock” equals the weighted average net assets for the year ended December 31, 2024, which is approximately $1,861.6 million. (6) “Operating expenses” represent our actual operating expenses incurred for the twelve months ended December 31, 2024. (7) We do not have an investment adviser and are internally managed by our executive officers under the supervision of our Board. As a result, we do not pay investment advisory fees, but instead we pay the operating costs associated with employing investment management professionals. (8) “Interest and fees paid in connection with borrowed funds” represent our interest, fees, and credit facility expenses incurred for the year ended December 31, 2024. (9) “Total annual expenses” is the sum of “Operating expenses”, “Interest and fees paid in connection with borrowed funds”, and "Acquired fund fees and expenses". “Total annual expenses” is presented as a percentage of weighted average net assets attributable to common stockholders, because the holders of shares of our common stock (and not the holders of our debt securities or preferred stock, if any) bear all of our fees and expenses, including the fees and expenses of our wholly-owned consolidated subsidiaries, all of which are included in this fee table presentation. (10) “Acquired fund fees and expenses” represent the estimated indirect expense incurred due to investments in other investment companies and private funds.
Sales Load [Percent]										0%
Other Transaction Expenses [Abstract]
Other Transaction Expense 1 [Percent]										0%
Other Transaction Expense 2 [Percent]										0%
Annual Expenses [Table Text Block]										The following table is intended to assist you in understanding the various costs and expenses that an investor in our common stock will bear directly or indirectly. However, we caution you that some of the percentages indicated in the table below are estimates and may vary. The footnotes to the fee table state which items are estimates. Except where the context suggests otherwise, whenever this prospectus contains a reference to fees or expenses paid by “you” or “us” or that “we” will pay fees or expenses, stockholders will indirectly bear such fees or expenses as investors in Hercules Capital, Inc. Stockholder Transaction Expenses (as a percentage of the public offering price): Sales load (as a percentage of offering price) (1) — % Offering expenses — % (2) Dividend reinvestment plan fees — % (3) Total stockholder transaction expenses (as a percentage of the public offering price) — % (4) Annual Expenses (as a percentage of net assets attributable to common stock): (5) Operating expenses 4.38 % (6)(7) Interest and fees paid in connection with borrowed funds 4.62 % (8) Acquired fund fees and expenses 0.01 % (10) Total annual expenses 9.01 % (9) (1) In the event that our securities are sold to or through underwriters, a corresponding prospectus supplement to the Prospectus will disclose the applicable sales load. (2) In the event that we conduct an offering of our securities, a corresponding prospectus supplement to this prospectus will disclose the estimated offering expenses. (3) The expenses associated with the administration of our dividend reinvestment plan are included in “Operating expenses.” We pay all brokerage commissions incurred with respect to open market purchases, if any, made by the administrator under the plan. For more details about the plan, see “Dividend Reinvestment Plan.” (4) Total stockholder transaction expenses may include sales load and will be disclosed in a future prospectus supplement, if any. (5) “Net assets attributable to common stock” equals the weighted average net assets for the year ended December 31, 2024, which is approximately $1,861.6 million. (6) “Operating expenses” represent our actual operating expenses incurred for the twelve months ended December 31, 2024. (7) We do not have an investment adviser and are internally managed by our executive officers under the supervision of our Board. As a result, we do not pay investment advisory fees, but instead we pay the operating costs associated with employing investment management professionals. (8) “Interest and fees paid in connection with borrowed funds” represent our interest, fees, and credit facility expenses incurred for the year ended December 31, 2024. (9) “Total annual expenses” is the sum of “Operating expenses”, “Interest and fees paid in connection with borrowed funds”, and "Acquired fund fees and expenses". “Total annual expenses” is presented as a percentage of weighted average net assets attributable to common stockholders, because the holders of shares of our common stock (and not the holders of our debt securities or preferred stock, if any) bear all of our fees and expenses, including the fees and expenses of our wholly-owned consolidated subsidiaries, all of which are included in this fee table presentation. (10) “Acquired fund fees and expenses” represent the estimated indirect expense incurred due to investments in other investment companies and private funds.
Interest Expenses on Borrowings [Percent]										4.62%
Acquired Fund Fees and Expenses [Percent]										0.01%
Other Annual Expenses [Abstract]
Other Annual Expenses [Percent]										4.38%
Total Annual Expenses [Percent]										9.01%
Expense Example [Table Text Block]										The following example demonstrates the projected dollar amount of total cumulative expenses that would be incurred over various periods with respect to a hypothetical investment in our common stock. These amounts are based upon our payment of annual operating expenses at the levels set forth in the table above and assume no additional leverage. 1 Year 3 Years 5 Years 10 Years You would pay the following expenses on a $1,000 investment, $ 88 $ 255 $ 408 $ 742 The example and the expenses in the tables above should not be considered a representation of our future expenses, and actual expenses may be greater or lesser than those shown. Moreover, while the example assumes, as required by the applicable rules of the SEC, a 5% annual return, our performance will vary and may result in a return greater or lesser than 5%. In addition, while the example assumes reinvestment of all distributions at NAV, participants in our dividend reinvestment plan may receive shares valued at the market price in effect at that time. This price may be at, above or below NAV. See “Dividend Reinvestment Plan” for additional information regarding our dividend reinvestment plan.
Expense Example, Year 01										$ 88
Expense Example, Years 1 to 3										255
Expense Example, Years 1 to 5										408
Expense Example, Years 1 to 10										$ 742
Purpose of Fee Table , Note [Text Block]										The following table is intended to assist you in understanding the various costs and expenses that an investor in our common stock will bear directly or indirectly. However, we caution you that some of the percentages indicated in the table below are estimates and may vary. The footnotes to the fee table state which items are estimates. Except where the context suggests otherwise, whenever this prospectus contains a reference to fees or expenses paid by “you” or “us” or that “we” will pay fees or expenses, stockholders will indirectly bear such fees or expenses as investors in Hercules Capital, Inc.
Other Transaction Fees, Note [Text Block]										In the event that we conduct an offering of our securities, a corresponding prospectus supplement to this prospectus will disclose the estimated offering expenses. (3) The expenses associated with the administration of our dividend reinvestment plan are included in “Operating expenses.” We pay all brokerage commissions incurred with respect to open market purchases, if any, made by the administrator under the plan. For more details about the plan, see “Dividend Reinvestment Plan.”
Other Expenses, Note [Text Block]										Operating expenses” represent our actual operating expenses incurred for the twelve months ended December 31, 2024. (7) We do not have an investment adviser and are internally managed by our executive officers under the supervision of our Board. As a result, we do not pay investment advisory fees, but instead we pay the operating costs associated with employing investment management professionals.
Acquired Fund Fees Estimated, Note [Text Block]										“Acquired fund fees and expenses” represent the estimated indirect expense incurred due to investments in other investment companies and private funds.
Financial Highlights [Abstract]
Senior Securities [Table Text Block]										Senior Securities Information about our senior securities is shown in the following table. The information as of and for each of the years ended December 31, 2024, 2023, 2022, 2021, and 2020, is derived from our consolidated financial statements, which have been audited by PricewaterhouseCoopers LLP, our independent registered public accounting firm, as stated in their report which is included herein. Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) Securitized Credit Facility with Wells Fargo Capital Finance December 31, 2015 $ 50,000,000 $ 26,352 N/A December 31, 2016 $ 5,015,620 $ 290,234 N/A December 31, 2017 (7) — — N/A December 31, 2018 $ 13,106,582 $ 147,497 N/A December 31, 2019 (7) — — N/A December 31, 2020 (7) — — N/A December 31, 2021 (7) — — N/A Secured Credit Facility with MUFG Bank Ltd. (MUFG) (9) December 31, 2015 (7) — — N/A December 31, 2016 (7) — — N/A December 31, 2017 (7) — — N/A December 31, 2018 $ 39,849,010 $ 48,513 N/A December 31, 2019 $ 103,918,736 $ 23,423 N/A December 31, 2020 (7) — — N/A December 31, 2021 (7) — — N/A December 31, 2022 $ 107,000,000 $ 27,964 N/A December 31, 2023 $ 61,000,000 $ 55,250 N/A December 31, 2024 $ 116,000,000 $ 32,511 N/A Secured Credit Facility with Sumitomo Mitsui Banking Corporation (SMBC) December 31, 2021 $ 29,924,726 $ 85,479 N/A December 31, 2022 $ 72,000,000 $ 41,558 N/A December 31, 2023 $ 94,000,000 $ 35,854 N/A December 31, 2024 283,789,800 $ 13,289 N/A Small Business Administration Debentures (HT II) (4) December 31, 2015 $ 41,200,000 $ 31,981 N/A December 31, 2016 $ 41,200,000 $ 35,333 N/A December 31, 2017 $ 41,200,000 $ 39,814 N/A December 31, 2018 — — N/A Small Business Administration Debentures (HT III) (5) December 31, 2015 $ 149,000,000 $ 8,843 N/A December 31, 2016 $ 149,000,000 $ 9,770 N/A December 31, 2017 $ 149,000,000 $ 11,009 N/A December 31, 2018 $ 149,000,000 $ 12,974 N/A December 31, 2019 $ 149,000,000 $ 16,336 N/A December 31, 2020 $ 99,000,000 $ 26,168 N/A December 31, 2021 — — N/A Small Business Administration Debentures (HC IV) (6) December 31, 2021 $ 150,500,000 $ 16,996 N/A December 31, 2022 $ 175,000,000 $ 17,098 N/A December 31, 2023 $ 175,000,000 $ 19,259 N/A December 31, 2024 $ 175,000,000 $ 21,550 N/A Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) Small Business Administration Debentures (SBIC V) (10) December 31, 2024 $ 104,000,000 $ 36,263 N/A 2016 Convertible Notes December 31, 2015 $ 17,604,000 $ 74,847 $ 1,110 December 31, 2016 — — N/A April 2019 Notes December 31, 2015 $ 64,489,500 $ 20,431 $ 1,017 December 31, 2016 $ 64,489,500 $ 22,573 $ 1,022 December 31, 2017 — — N/A September 2019 Notes December 31, 2015 $ 45,875,000 $ 28,722 $ 1,009 December 31, 2016 $ 45,875,000 $ 31,732 $ 1,023 December 31, 2017 — — N/A 2022 Notes December 31, 2017 $ 150,000,000 $ 10,935 $ 1,014 December 31, 2018 $ 150,000,000 $ 12,888 $ 976 December 31, 2019 $ 150,000,000 $ 16,227 $ 1,008 December 31, 2020 $ 150,000,000 $ 17,271 $ 1,017 December 31, 2021 $ 150,000,000 $ 17,053 $ 1,019 December 31, 2022 — — N/A 2024 Notes December 31, 2015 $ 103,000,000 $ 12,792 $ 1,014 December 31, 2016 $ 252,873,175 $ 5,757 $ 1,016 December 31, 2017 $ 183,509,600 $ 8,939 $ 1,025 December 31, 2018 $ 83,509,600 $ 23,149 $ 1,011 December 31, 2019 — — N/A 2025 Notes December 31, 2018 $ 75,000,000 $ 25,776 $ 962 December 31, 2019 $ 75,000,000 $ 32,454 $ 1,032 December 31, 2020 $ 75,000,000 $ 34,541 $ 1,020 December 31, 2021 — — N/A 2033 Notes December 31, 2018 $ 40,000,000 $ 48,330 $ 934 December 31, 2019 $ 40,000,000 $ 60,851 $ 1,054 December 31, 2020 $ 40,000,000 $ 64,765 $ 1,072 December 31, 2021 $ 40,000,000 $ 63,948 $ 1,067 December 31, 2022 $ 40,000,000 $ 74,804 $ 984 December 31, 2023 $ 40,000,000 $ 84,256 $ 1,010 December 31, 2024 $ 40,000,000 $ 94,283 $ 1,007 July 2024 Notes December 31, 2019 $ 105,000,000 $ 23,181 N/A December 31, 2020 $ 105,000,000 $ 24,672 N/A December 31, 2021 $ 105,000,000 $ 24,361 N/A December 31, 2022 $ 105,000,000 $ 28,497 N/A December 31, 2023 $ 105,000,000 $ 32,098 N/A December 31, 2024 — — N/A February 2025 Notes December 31, 2020 $ 50,000,000 $ 51,812 N/A December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) December 31, 2024 $ 50,000,000 $ 75,426 N/A June 2025 Notes December 31, 2020 $ 70,000,000 $ 37,009 N/A December 31, 2021 $ 70,000,000 $ 36,542 N/A December 31, 2022 $ 70,000,000 $ 42,745 N/A December 31, 2023 $ 70,000,000 $ 48,146 N/A December 31, 2024 $ 70,000,000 $ 53,876 N/A June 2025 3-Year Notes December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A March 2026 A Notes December 31, 2020 $ 50,000,000 $ 51,812 N/A December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A March 2026 B Notes December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A September 2026 Notes December 31, 2021 $ 325,000,000 $ 7,871 N/A December 31, 2022 $ 325,000,000 $ 9,207 N/A December 31, 2023 $ 325,000,000 $ 10,370 N/A December 31, 2024 $ 325,000,000 $ 11,604 N/A January 2027 Notes December 31, 2022 $ 350,000,000 $ 8,549 N/A December 31, 2023 $ 350,000,000 $ 9,629 N/A December 31, 2024 $ 350,000,000 $ 10,775 N/A 2017 Asset-Backed Notes December 31, 2015 — — N/A 2021 Asset-Backed Notes December 31, 2015 $ 129,300,000 $ 10,190 $ 996 December 31, 2016 $ 109,205,263 $ 13,330 $ 1,002 December 31, 2017 $ 49,152,504 $ 33,372 $ 1,001 December 31, 2018 — — N/A 2027 Asset-Backed Notes December 31, 2018 $ 200,000,000 $ 9,666 $ 1,006 December 31, 2019 $ 200,000,000 $ 12,170 $ 1,004 December 31, 2020 $ 180,988,022 $ 14,314 $ 1,001 December 31, 2021 — — N/A 2028 Asset-Backed Notes December 31, 2019 $ 250,000,000 $ 9,736 $ 1,004 December 31, 2020 $ 250,000,000 $ 10,362 $ 1,002 December 31, 2021 — — N/A 2031 Asset-Backed Notes December 31, 2022 $ 150,000,000 $ 19,948 $ 951 December 31, 2023 $ 150,000,000 $ 22,468 $ 950 December 31, 2024 $ 119,475,297 $ 31,566 $ 963 Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) 2022 Convertible Notes December 31, 2017 $ 230,000,000 $ 7,132 $ 1,028 December 31, 2018 $ 230,000,000 $ 8,405 $ 946 December 31, 2019 $ 230,000,000 $ 10,583 $ 1,021 December 31, 2020 $ 230,000,000 $ 11,264 $ 1,027 December 31, 2021 $ 230,000,000 $ 11,121 $ 1,026 December 31, 2022 — — N/A Total Senior Securities (8) December 31, 2015 $ 600,468,500 $ 2,194 N/A December 31, 2016 $ 667,658,558 $ 2,180 N/A December 31, 2017 $ 802,862,104 $ 2,043 N/A December 31, 2018 $ 980,465,192 $ 1,972 N/A December 31, 2019 $ 1,302,918,736 $ 1,868 N/A December 31, 2020 $ 1,299,988,022 $ 1,993 N/A December 31, 2021 $ 1,250,424,726 $ 2,046 N/A December 31, 2022 $ 1,594,000,000 $ 1,877 N/A December 31, 2023 $ 1,570,000,000 $ 2,147 N/A December 31, 2024 $ 1,783,265,097 $ 2,115 N/A (1) Total amount of each class of senior securities outstanding at the end of the period presented. (2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, including senior securities not subject to asset coverage requirements under the 1940 Act due to exemptive relief from the SEC, divided by senior securities representing indebtedness. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage per Unit. (3) Not applicable because senior securities are not registered for public trading. (4) Issued by Hercules Technology II, L.P. (“HT II”), one of our prior SBIC subsidiaries, to the Small Business Association (“SBA”). On July 13, 2018, we completed repayment of the remaining outstanding HT II debentures and subsequently surrendered the SBA license with respect to HT II. These categories of senior securities were not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (5) Issued by HT III, one of our prior SBIC subsidiaries, to the SBA. On May 5, 2021, we completed repayment of the remaining outstanding HT III debentures and subsequently surrendered the SBA license with respect to HT III. These categories of senior securities were not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (6) Issued by HC IV, one of our SBIC subsidiaries, to the SBA. These categories of senior securities are not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (7) The Company’s Wells Facility and MUFG Bank Facility had no borrowings outstanding as of the periods noted above. (8) The total senior securities and Asset Coverage per Unit shown for those securities do not represent the asset coverage ratio requirement under the 1940 Act, because the presentation includes senior securities not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. As of December 31, 2024, our asset coverage ratio under our regulatory requirements as a business development company was 231.7% excluding our SBA debentures as a result of our exemptive order from the SEC which allows us to exclude all SBA leverage from our asset coverage ratio. (9) The June 2022 amendment of the MUFG Bank Facility replaced the Union Bank Facility via an amendment as the lead lender. (10) Issued by SBIC V, one of our SBIC subsidiaries, to the SBA. These categories of senior securities are not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC..
Senior Securities, Note [Text Block]										Information about our senior securities is shown in the following table. The information as of and for each of the years ended December 31, 2024, 2023, 2022, 2021, and 2020, is derived from our consolidated financial statements, which have been audited by PricewaterhouseCoopers LLP, our independent registered public accounting firm, as stated in their report which is included herein. Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) Securitized Credit Facility with Wells Fargo Capital Finance December 31, 2015 $ 50,000,000 $ 26,352 N/A December 31, 2016 $ 5,015,620 $ 290,234 N/A December 31, 2017 (7) — — N/A December 31, 2018 $ 13,106,582 $ 147,497 N/A December 31, 2019 (7) — — N/A December 31, 2020 (7) — — N/A December 31, 2021 (7) — — N/A Secured Credit Facility with MUFG Bank Ltd. (MUFG) (9) December 31, 2015 (7) — — N/A December 31, 2016 (7) — — N/A December 31, 2017 (7) — — N/A December 31, 2018 $ 39,849,010 $ 48,513 N/A December 31, 2019 $ 103,918,736 $ 23,423 N/A December 31, 2020 (7) — — N/A December 31, 2021 (7) — — N/A December 31, 2022 $ 107,000,000 $ 27,964 N/A December 31, 2023 $ 61,000,000 $ 55,250 N/A December 31, 2024 $ 116,000,000 $ 32,511 N/A Secured Credit Facility with Sumitomo Mitsui Banking Corporation (SMBC) December 31, 2021 $ 29,924,726 $ 85,479 N/A December 31, 2022 $ 72,000,000 $ 41,558 N/A December 31, 2023 $ 94,000,000 $ 35,854 N/A December 31, 2024 283,789,800 $ 13,289 N/A Small Business Administration Debentures (HT II) (4) December 31, 2015 $ 41,200,000 $ 31,981 N/A December 31, 2016 $ 41,200,000 $ 35,333 N/A December 31, 2017 $ 41,200,000 $ 39,814 N/A December 31, 2018 — — N/A Small Business Administration Debentures (HT III) (5) December 31, 2015 $ 149,000,000 $ 8,843 N/A December 31, 2016 $ 149,000,000 $ 9,770 N/A December 31, 2017 $ 149,000,000 $ 11,009 N/A December 31, 2018 $ 149,000,000 $ 12,974 N/A December 31, 2019 $ 149,000,000 $ 16,336 N/A December 31, 2020 $ 99,000,000 $ 26,168 N/A December 31, 2021 — — N/A Small Business Administration Debentures (HC IV) (6) December 31, 2021 $ 150,500,000 $ 16,996 N/A December 31, 2022 $ 175,000,000 $ 17,098 N/A December 31, 2023 $ 175,000,000 $ 19,259 N/A December 31, 2024 $ 175,000,000 $ 21,550 N/A Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) Small Business Administration Debentures (SBIC V) (10) December 31, 2024 $ 104,000,000 $ 36,263 N/A 2016 Convertible Notes December 31, 2015 $ 17,604,000 $ 74,847 $ 1,110 December 31, 2016 — — N/A April 2019 Notes December 31, 2015 $ 64,489,500 $ 20,431 $ 1,017 December 31, 2016 $ 64,489,500 $ 22,573 $ 1,022 December 31, 2017 — — N/A September 2019 Notes December 31, 2015 $ 45,875,000 $ 28,722 $ 1,009 December 31, 2016 $ 45,875,000 $ 31,732 $ 1,023 December 31, 2017 — — N/A 2022 Notes December 31, 2017 $ 150,000,000 $ 10,935 $ 1,014 December 31, 2018 $ 150,000,000 $ 12,888 $ 976 December 31, 2019 $ 150,000,000 $ 16,227 $ 1,008 December 31, 2020 $ 150,000,000 $ 17,271 $ 1,017 December 31, 2021 $ 150,000,000 $ 17,053 $ 1,019 December 31, 2022 — — N/A 2024 Notes December 31, 2015 $ 103,000,000 $ 12,792 $ 1,014 December 31, 2016 $ 252,873,175 $ 5,757 $ 1,016 December 31, 2017 $ 183,509,600 $ 8,939 $ 1,025 December 31, 2018 $ 83,509,600 $ 23,149 $ 1,011 December 31, 2019 — — N/A 2025 Notes December 31, 2018 $ 75,000,000 $ 25,776 $ 962 December 31, 2019 $ 75,000,000 $ 32,454 $ 1,032 December 31, 2020 $ 75,000,000 $ 34,541 $ 1,020 December 31, 2021 — — N/A 2033 Notes December 31, 2018 $ 40,000,000 $ 48,330 $ 934 December 31, 2019 $ 40,000,000 $ 60,851 $ 1,054 December 31, 2020 $ 40,000,000 $ 64,765 $ 1,072 December 31, 2021 $ 40,000,000 $ 63,948 $ 1,067 December 31, 2022 $ 40,000,000 $ 74,804 $ 984 December 31, 2023 $ 40,000,000 $ 84,256 $ 1,010 December 31, 2024 $ 40,000,000 $ 94,283 $ 1,007 July 2024 Notes December 31, 2019 $ 105,000,000 $ 23,181 N/A December 31, 2020 $ 105,000,000 $ 24,672 N/A December 31, 2021 $ 105,000,000 $ 24,361 N/A December 31, 2022 $ 105,000,000 $ 28,497 N/A December 31, 2023 $ 105,000,000 $ 32,098 N/A December 31, 2024 — — N/A February 2025 Notes December 31, 2020 $ 50,000,000 $ 51,812 N/A December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) December 31, 2024 $ 50,000,000 $ 75,426 N/A June 2025 Notes December 31, 2020 $ 70,000,000 $ 37,009 N/A December 31, 2021 $ 70,000,000 $ 36,542 N/A December 31, 2022 $ 70,000,000 $ 42,745 N/A December 31, 2023 $ 70,000,000 $ 48,146 N/A December 31, 2024 $ 70,000,000 $ 53,876 N/A June 2025 3-Year Notes December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A March 2026 A Notes December 31, 2020 $ 50,000,000 $ 51,812 N/A December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A March 2026 B Notes December 31, 2021 $ 50,000,000 $ 51,159 N/A December 31, 2022 $ 50,000,000 $ 59,843 N/A December 31, 2023 $ 50,000,000 $ 67,405 N/A December 31, 2024 $ 50,000,000 $ 75,426 N/A September 2026 Notes December 31, 2021 $ 325,000,000 $ 7,871 N/A December 31, 2022 $ 325,000,000 $ 9,207 N/A December 31, 2023 $ 325,000,000 $ 10,370 N/A December 31, 2024 $ 325,000,000 $ 11,604 N/A January 2027 Notes December 31, 2022 $ 350,000,000 $ 8,549 N/A December 31, 2023 $ 350,000,000 $ 9,629 N/A December 31, 2024 $ 350,000,000 $ 10,775 N/A 2017 Asset-Backed Notes December 31, 2015 — — N/A 2021 Asset-Backed Notes December 31, 2015 $ 129,300,000 $ 10,190 $ 996 December 31, 2016 $ 109,205,263 $ 13,330 $ 1,002 December 31, 2017 $ 49,152,504 $ 33,372 $ 1,001 December 31, 2018 — — N/A 2027 Asset-Backed Notes December 31, 2018 $ 200,000,000 $ 9,666 $ 1,006 December 31, 2019 $ 200,000,000 $ 12,170 $ 1,004 December 31, 2020 $ 180,988,022 $ 14,314 $ 1,001 December 31, 2021 — — N/A 2028 Asset-Backed Notes December 31, 2019 $ 250,000,000 $ 9,736 $ 1,004 December 31, 2020 $ 250,000,000 $ 10,362 $ 1,002 December 31, 2021 — — N/A 2031 Asset-Backed Notes December 31, 2022 $ 150,000,000 $ 19,948 $ 951 December 31, 2023 $ 150,000,000 $ 22,468 $ 950 December 31, 2024 $ 119,475,297 $ 31,566 $ 963 Class and Year Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Average Market Value per Unit (3) 2022 Convertible Notes December 31, 2017 $ 230,000,000 $ 7,132 $ 1,028 December 31, 2018 $ 230,000,000 $ 8,405 $ 946 December 31, 2019 $ 230,000,000 $ 10,583 $ 1,021 December 31, 2020 $ 230,000,000 $ 11,264 $ 1,027 December 31, 2021 $ 230,000,000 $ 11,121 $ 1,026 December 31, 2022 — — N/A Total Senior Securities (8) December 31, 2015 $ 600,468,500 $ 2,194 N/A December 31, 2016 $ 667,658,558 $ 2,180 N/A December 31, 2017 $ 802,862,104 $ 2,043 N/A December 31, 2018 $ 980,465,192 $ 1,972 N/A December 31, 2019 $ 1,302,918,736 $ 1,868 N/A December 31, 2020 $ 1,299,988,022 $ 1,993 N/A December 31, 2021 $ 1,250,424,726 $ 2,046 N/A December 31, 2022 $ 1,594,000,000 $ 1,877 N/A December 31, 2023 $ 1,570,000,000 $ 2,147 N/A December 31, 2024 $ 1,783,265,097 $ 2,115 N/A (1) Total amount of each class of senior securities outstanding at the end of the period presented. (2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, including senior securities not subject to asset coverage requirements under the 1940 Act due to exemptive relief from the SEC, divided by senior securities representing indebtedness. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage per Unit. (3) Not applicable because senior securities are not registered for public trading. (4) Issued by Hercules Technology II, L.P. (“HT II”), one of our prior SBIC subsidiaries, to the Small Business Association (“SBA”). On July 13, 2018, we completed repayment of the remaining outstanding HT II debentures and subsequently surrendered the SBA license with respect to HT II. These categories of senior securities were not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (5) Issued by HT III, one of our prior SBIC subsidiaries, to the SBA. On May 5, 2021, we completed repayment of the remaining outstanding HT III debentures and subsequently surrendered the SBA license with respect to HT III. These categories of senior securities were not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (6) Issued by HC IV, one of our SBIC subsidiaries, to the SBA. These categories of senior securities are not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. (7) The Company’s Wells Facility and MUFG Bank Facility had no borrowings outstanding as of the periods noted above. (8) The total senior securities and Asset Coverage per Unit shown for those securities do not represent the asset coverage ratio requirement under the 1940 Act, because the presentation includes senior securities not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC. As of December 31, 2024, our asset coverage ratio under our regulatory requirements as a business development company was 231.7% excluding our SBA debentures as a result of our exemptive order from the SEC which allows us to exclude all SBA leverage from our asset coverage ratio. (9) The June 2022 amendment of the MUFG Bank Facility replaced the Union Bank Facility via an amendment as the lead lender. (10) Issued by SBIC V, one of our SBIC subsidiaries, to the SBA. These categories of senior securities are not subject to the asset coverage requirements of the 1940 Act as a result of exemptive relief granted to us by the SEC..
Senior Securities Headings, Note [Text Block]										The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, including senior securities not subject to asset coverage requirements under the 1940 Act due to exemptive relief from the SEC, divided by senior securities representing indebtedness. This asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage per Unit.
General Description of Registrant [Abstract]
Investment Objectives and Practices [Text Block]										OUR BUSINESS STRATEGY Our strategy to achieve our investment objective includes the following key elements: Leverage the Experience and Industry Relationships of Our Management Team and Investment Professionals . We have been investing in venture capital-backed and institutional-backed companies for over 20 years. Our investment professionals are led by individuals with extensive experience as venture capitalists, commercial lenders, and originators of Structured Debt and equity investments in technology-related companies. In addition, our team members have originated Structured Debt, senior debt, and equity investments in over 600 technology-related companies, representing over $21.0 billion in commitments from inception to December 31, 2024, and have developed a network of industry contacts with investors and other participants within the venture capital and private equity communities. Members of our management team also have operational, research and development and finance experience with technology-related companies. Furthermore, we have established contacts with leading venture capital and private equity fund sponsors, public and private companies, research institutions and other industry participants, which we believe will enable us to identify and attract well-positioned prospective portfolio companies. We focus our investing activities generally in industries in which our investment professionals have investment experience. We believe that our focus on financing technology-related companies will enable us to leverage our expertise in structuring prospective investments, to assess the value of both tangible and intangible assets, to evaluate the business prospects and operating characteristics of technology-related companies and to identify and originate potentially attractive investments with these types of companies. Provide Customized Financing Complementary to Financial Sponsors’ Capital. We offer a broad range of investment structures and possess expertise and experience to effectively structure and price investments in technology-related companies. Unlike many of our competitors that only invest in companies that fit a specific set of investment parameters, we have the flexibility to structure our investments to suit the particular needs of our portfolio companies. We offer customized financing solutions ranging from senior debt, including below-investment grade debt instruments, also known as “junk bonds”, to equity capital, with a focus on Structured Debt. We use our relationships in the financial sponsor community to originate investment opportunities. Because venture capital and private equity funds typically invest solely in the equity securities of their portfolio companies, we believe that our debt investments will be viewed as an attractive and complementary source of capital, both by the portfolio company and by the portfolio company’s financial sponsor. In addition, we believe that many venture capital and private equity fund sponsors encourage their portfolio companies to use debt financing for a portion of their capital needs as a means of potentially enhancing equity returns, minimizing equity dilution and increasing valuations prior to a subsequent equity financing round or a liquidity event. Invest at Various Stages of Development. We provide growth capital to technology-related companies at all stages of development, including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancings and established-stage companies. We believe that this provides us with a broader range of potential investment opportunities than those available to many of our competitors, who generally focus their investments on a particular stage in a company’s development. Because of the flexible structure of our investments and the extensive experience of our investment professionals, we believe we are well positioned to take advantage of these investment opportunities at all stages of prospective portfolio companies’ development. Mitigate Risk of Principal Loss and Build a Portfolio of Warrant and Equity Securities. We expect that our investments have the potential to produce attractive risk-adjusted returns through current income, in the form of interest and fee income, as well as capital appreciation from warrant and equity securities. We believe that we can mitigate the risk of loss on our debt investments through the combination of loan principal amortization after an initial interest only period, cash interest payments, relatively short maturities (typically between 36-48 months), security interests in the assets of our portfolio companies, and on select investment covenants requiring prospective portfolio companies to have certain amounts of available cash at the time of our investment and the continued support from a venture capital or private equity firm. Although we generally do not engage in significant hedging transactions, we may utilize instruments such as forward contracts, currency options and interest rate swaps, caps, collars, and floors to seek to hedge against fluctuations in the relative values of our portfolio positions from changes in currency exchange rates and market interest rates. Moreover as noted above, our debt investments in venture capital-backed and institutional-backed companies are generally structured with equity enhancement features. These enhancement features typically are received in the form of warrants, equity securities, or other equity features such as the right to convert our debt or invest in connection with future equity financing rounds. These equity enhancements are considered original issue discounts (“OID”) to our loans and are designed to provide us with an opportunity for potential capital appreciation. Warrants received are typically immediately exercisable upon issuance and generally will remain exercisable for the lesser of five to ten years after issuance or three to five years after completion of such portfolio company's initial public offering (“IPO”). The exercise prices for the warrants varies from nominal exercise prices to exercise prices that are at or above the current fair market value of the equity for which we receive warrants. We may structure warrants and other equity investments to provide minority rights provisions or, on a very select basis, put rights upon the occurrence of certain events. We generally target a total annualized return (including interest, fees and value of warrants and other equity investments) of 10% to 20% for our debt investments. We believe these equity interests will create the potential for meaningful long-term capital gains in connection with the future liquidity events of these technology-related companies. Benefit from Our Efficient Organizational Structure. We believe that the perpetual nature of our corporate structure enables us to be a long-term partner for our portfolio companies in contrast to traditional investment funds, which typically have a limited life. In addition, because of our access to the public equity markets, we believe that we may benefit from a lower cost of capital than that available to private investment funds. We are not subject to requirements to return invested capital to investors, nor do we have a finite investment horizon. Capital providers that are subject to such limitations are often required to seek a liquidity event more quickly than they otherwise might, which can result in a lower overall return on an investment. OUR INVESTMENTS AND OPERATIONS We principally invest in debt securities and, to a lesser extent, warrants and equity securities, with a particular emphasis on Structured Debt. We generally seek to invest in companies that have been operating for at least six to twelve months prior to the date of our investment. We anticipate that such entities may, at the time of investment, be generating revenues or will have a business plan that anticipates generation of revenues within 24 to 48 months. Further, we anticipate that on the date of our investment we will generally obtain a lien on available assets, which may or may not include intellectual property, and these companies will have sufficient cash on their balance sheet to operate as well as potentially pay down the principal on our debt for at least three to nine months following our investment. We generally require that a prospective portfolio company, in addition to having sufficient capital to support leverage, demonstrate an operating plan capable of generating cash flows or raising the additional capital necessary to cover its operating expenses and service its debt, for an additional six to twelve months subject to market conditions. We expect that our investments will generally range from $25.0 million to $100.0 million, although we may make investments in amounts above or below this range. We typically structure our debt securities to provide for amortization of principal over the life of the loan, but may include a period of interest-only payments. Our loans will typically be collateralized by a security interest in the borrower’s assets, although we may not have the first claim on these assets and the assets may not include intellectual property. Our debt investments carry fixed or variable contractual interest rates which generally ranged from approximately 8% to 15% as of December 31, 2024. Approximately 97.4% of our loans were at floating rates or floating rates with a floor and 2.6% of the loans were at fixed rates as of December 31, 2024. In addition to the cash yields received on our loans, our loans generally include one or more of the following: exit fees, balloon payment fees, commitment fees, success fees, or prepayment fees. In some cases, our loans also include contractual payment-in-kind ("PIK") interest arrangements. The increases in loan balances as a result of contractual PIK arrangements are included in income for the period in which such PIK interest was accrued, which is often in advance of receiving cash payment, and are separately identified on our statements of cash flows. We also may be required to include in income for U.S. federal, state, and local tax purposes certain other amounts, such as back end fees, prior to receiving the related cash. Typically, our debt and equity investments take one of the following forms: • Structured Debt: We seek to invest a majority of our assets in debt structured with warrants, equity, options, or other rights to purchase or convert into common or preferred equity investment of prospective portfolio companies. Our investments in Structured Debt may be the only debt capital on the balance sheet of our portfolio companies, and in many cases, we have a first priority security interest in all of our portfolio company’s assets. In certain investments, we may have a “negative pledge” ( i.e. , an agreement by the portfolio company to not pledge its intellectual property) to another lender on intellectual property. Our Structured Debt typically has a maturity of between two and five years, and it may provide for full amortization after an interest only period. Our Structured Debt with warrants carries an interest rate referenced to the U.S. Prime Rate (“Prime”), the Secured Overnight Financing Rate (“SOFR”), Sterling Overnight Index Average (“SONIA”), or a similar benchmark rate plus a spread with a floor and may include an additional exit fee payment or contractual PIK interest arrangements. Additionally, our Structured Debt financings may include restrictive affirmative and negative covenants, default penalties, prepayment penalties, lien protection, equity calls, change-in-control provisions and board observation rights. • Senior Debt: We seek to invest a limited portion of our assets in senior debt. Senior debt may be collateralized by accounts receivable and/or inventory financing of prospective portfolio companies. Senior debt has a senior position with respect to a borrower’s scheduled interest and principal payments and holds a first priority security interest in the assets pledged as collateral. Senior debt also may impose covenants on a borrower with regard to cash flows and changes in capital structure, among other items. We generally collateralize our investments by obtaining security interests in our portfolio companies’ assets, which may include their intellectual property. In other cases, we may obtain a negative pledge covering a company’s intellectual property. Our senior loans, in certain instances, may be tied to the financing of specific assets. In connection with a senior debt investment, we may also provide the borrower with a working capital line-of-credit that will carry an interest rate generally referenced to Prime, SOFR, SONIA, or a similar benchmark rate plus a spread with a floor, generally maturing in three to five years, and typically secured by accounts receivable and/or inventory. We also provide “unitranche” loans, which are loans that combine both senior and subordinated loans (sometimes referred to as mezzanine debt), generally in a first lien position with security interest in all the assets of the portfolio company. The loans can either be “first out” or “last out”, whereby the “last-out” loans will be subordinated to the “first-out” portion of the unitranche loan in a liquidation, sale or other disposition. • Equity Securities: The equity securities we hold consist primarily of warrants or other equity interests generally obtained in connection with our Structured Debt investments. In addition to the warrants received as a part of a Structured Debt financing, we typically receive the right to make equity investments in a portfolio company in connection with that company’s next round of equity financing. We may also hold certain debt investments that have the right to convert a portion of the debt investment into equity. These rights will provide us with the opportunity to further enhance our returns over time through opportunistic equity investments in our portfolio companies. These equity investments are typically in the form of preferred or common equity and may be structured with a dividend yield, providing us with a current return, and with customary anti-dilution protection and preemptive rights. We may achieve liquidity through a merger or acquisition of a portfolio company, a public offering of a portfolio company’s stock or by exercising our right, if any, to require a portfolio company to buy back the equity securities we hold. We may also make stand-alone direct equity investments into portfolio companies in which we may not have any debt investment in the company. As of December 31, 2024, we held warrant and equity securities in 151 portfolio companies. In addition to the characteristics described above, the table below compares the typical features of our investments. Structured Debt Senior Debt Equity Securities Typical Structure Term debt with warrants Term or revolving debt Warrants, preferred equity securities, or common equity securities Investment Horizon Long-term: 2 to 5 years; Average of 3.5 years Long-Term: 3 to 5 years Typically under 4 years 3 to 7 years Covenants Less restrictive; mostly financial Generally borrowing base and financial None Investment Criteria We have identified several criteria, among others, that we believe are important in achieving our investment objective with respect to prospective portfolio companies. These criteria, while not inclusive, provide general guidelines for our investment decisions. However, not all of these criteria have been, or will be, met in connection with each of our investments. Portfolio Composition - While we generally focus our investments in venture capital-backed and institutional-backed companies in a variety of technology-related industries, we seek to invest across various financial sponsors as well as across various stages of companies’ development and various technology-related industry sub-sectors and geographies. As of December 31, 2024, approximately 85.9% of the fair value of our portfolio was composed of investments in four industries: 29.5% was composed of investments in the "Software" industry, 29.5% was composed of investments in the "Drug Discovery & Development" industry, 16.7% was composed of investments in the "Healthcare Services, Other" industry and 10.2% was composed of investments in the "Consumer & Business Services" industry. Continuing Support from One or More Financial Sponsors - We generally invest in companies in which one or more established financial sponsors have previously invested and continue to make a contribution to the management of the business. We believe that having established financial sponsors with meaningful commitments to the business is a key characteristic of a prospective portfolio company. In addition, we look for representatives of one or more financial sponsors to maintain seats on the board of directors of a prospective portfolio company as an indication of such commitment. Company Stage of Development - While we invest in companies at various stages of development, we generally require that prospective portfolio companies be beyond the seed stage of development and generally have received or anticipate having commitments for their first institutional round of equity financing for early-stage companies. We expect a prospective portfolio company to demonstrate progress in its product development or demonstrate a path towards revenue generation or increase its revenues and operating cash flow over time. The anticipated growth rate of a prospective portfolio company is a key factor in determining the value that we ascribe to any warrants or other equity securities that we may acquire in connection with an investment in debt securities. Operating Plan - We generally require that a prospective portfolio company, in addition to having potential access to capital to support leverage, demonstrate an operating plan capable of generating cash flows or the ability to potentially raise the additional capital necessary to cover its operating expenses and service its debt for a specific period. Specifically, we require that a prospective portfolio company demonstrate at the time of our proposed investment that in addition to having sufficient capital to support leverage, it has an operating plan capable of generating cash flows or raising the additional capital necessary to cover its operating expenses and service its debt for an additional six to twelve months subject to market conditions. Security Interest - In many instances we seek a first priority security interest in all of the portfolio company’s tangible and intangible assets as collateral for our debt investment, subject in some cases to permitted exceptions. In other cases, we may obtain a negative pledge prohibiting a company from pledging or otherwise encumbering their intellectual property. We do not intend to operate as an asset-based lender. However, the estimated liquidation value of the assets, if any, collateralizing the debt securities that we hold is an important factor in our credit analysis, especially when attempting to estimate (subject to assumptions that may change over the life of the investment) the value of intellectual property. We generally evaluate both tangible assets, such as accounts receivable, inventory and equipment, and intangible assets, such as intellectual property, customer lists, networks and databases. Covenants - Our investments may include one or more of the following covenants: cross-default; material adverse change provisions; requirements that the portfolio company provide periodic financial reports and operating metrics; minimum liquidity requirements; and limitations on the portfolio company’s ability to incur additional debt, sell assets, dividend recapture, engage in transactions with affiliates and consummate an extraordinary transaction, such as a merger or recapitalization, without our consent. In addition, we may require other performance or financial based covenants, as we deem appropriate. Exit Strategy - Prior to making a debt investment that is accompanied by a warrant or other equity security in a prospective portfolio company, we analyze the potential for that company to increase the liquidity of its equity through a future event that would enable us to realize appreciation in the value of our equity interest. Liquidity events may include an IPO, a private sale of our equity interest to a third party, a merger or an acquisition of the company or a purchase of our equity position by the company or one or more of its stockholders. Investment Process Our investment process is comprised of four key stages: • Origination; • Underwriting; • Documentation; and • Loan and Compliance Administration. Our investment process is summarized in the following chart: Origination The origination process for our investments includes sourcing, screening, preliminary due diligence and deal structuring and negotiation, all leading to an executed non-binding term sheet. As of December 31, 2024, our investment origination team, which consists of more than 50 investment professionals, is headed by our Chief Investment Officer and Chief Executive Officer. The origination team is responsible for sourcing potential investment opportunities and members of the investment origination team use their extensive relationships with various leading financial sponsors, management contacts within technology-related companies, trade sources, industry conferences and various publications to source prospective portfolio companies. Our investment origination team is divided into life sciences, venture-backed technology, and private equity/ sponsor-backed technology sub-teams to better source potential portfolio companies. In addition, we have developed a comprehensive proprietary database to track various aspects of our investment process including sourcing, originations, transaction monitoring and post-investment performance. Our proprietary database allows our origination team to maintain, cultivate and grow our industry relationships while providing our origination team with comprehensive details on companies in the technology-related industries and their financial sponsors. If a prospective portfolio company generally meets certain underwriting criteria, we perform preliminary due diligence, which may include high level company and technology assessments, evaluation of its financial sponsors’ support, market analysis, competitive analysis, identifying key management, risk analysis and transaction size, pricing, return analysis and structure analysis. If the preliminary due diligence is satisfactory, and the origination team recommends moving forward, we then structure, negotiate and execute a non-binding term sheet with the potential portfolio company. Upon execution of a term sheet, the investment opportunity moves to the underwriting process to complete formal due diligence review and approval. Underwriting The underwriting review includes formal due diligence and approval of the proposed investment in the portfolio company. Due Diligence - Our due diligence on a prospective investment is typically completed by two or more investment professionals whom we define as the underwriting team. The underwriting team for a proposed investment consists of the deal sponsor who typically possesses general industry knowledge and is responsible for originating and managing the transaction, other investment professionals who perform due diligence, credit and corporate financial analyses and our legal professionals, as needed. To ensure consistent underwriting, we generally use our standardized due diligence methodologies, which include due diligence on financial performance and credit risk as well as an analysis of the operations and the legal and applicable regulatory framework of a prospective portfolio company. The members of the underwriting team work together to conduct due diligence and understand the relationships among the prospective portfolio company’s business plan, operations and financial performance. As part of our evaluation of a proposed investment, the underwriting team prepares an investment memorandum for presentation to the investment committee. In preparing the investment memorandum, the underwriting team typically interviews select key management of the company and select financial sponsors and assembles information necessary to the investment decision. If and when appropriate, the investment professionals may also contact industry experts and customers, vendors or, in some cases, competitors of the company. The underwriting team collaborates with the credit and legal teams to ensure the final credit underwriting deal structure meets our standards. In addition to the aforementioned members of the investment team, each deal is also assigned to a member of the credit team. The credit team is responsible for making sure that all material risks in the transaction are identified and mitigated to the extent possible in the investment memorandum and that the legal documentation properly reflects the transaction as approved by the investment committee. Approval Process - The sponsoring managing director or principal presents the investment memorandum to our investment committee for consideration. Each investment requires the approval of at least 80% of the investment committee members who are present and eligible to vote on the matter. The investment committee members include our Chief Executive Officer and Chief Investment Officer, Chief Financial Officer, Chief Credit Officer, and certain other senior investment professionals. The investment committee meets on an as-needed basis. Documentation Our legal department administers the documentation process for our investments. This department is responsible for documenting the transactions approved by our investment committee with a prospective portfolio company. This department negotiates loan and other investment documentation and, subject to appropriate approvals, prepares final documents for execution by required parties. The legal department generally engages external law firms to support the documentation process. Loan and Compliance Administration Our investment committee oversees the administration of the loans by our investment tea m, credit team, loan operations team and finance department and tracks covenant compliance, if applicable, of our investments. The investment committee also oversees the periodic review of our critical functions to ensure adherence with our internal policies and procedures. After the funding of a loan in accordance with the investment committee’s approval, the loan is recorded in our loan administration software and our proprietary database. The investment team, credit team, loan operations team an d finance department are responsible for ensuring timely interest and principal payments and collateral management as well as advising the investment committee on the financial performance and trends of each portfolio company, including any covenant violations that occur, to aid us in assessing the appropriate course of action for each portfolio company and evaluating overall portfolio quality. In addition, the investment team and credit team advise the investment committee and the audit committee of our Board (the "Audit Committee"), accordingly, regarding the credit and investment grading for each portfolio company as well as material changes in the value of collateral that may occur. The investment team and credit team monitor our portfolio companies in order to determine whether the companies are meeting our financing criteria and their respective business plans. These teams also monitor the financial trends of each portfolio company from its monthly or quarterly financial statements to assess the appropriate course of action for each company and to evaluate overall portfolio quality. Credit and Investment Grading System. Our investment and credit teams use an investment grading system to characterize and monitor our outstanding loans and debt investments. When appropriate, the teams recommend changes to investment grading. Our investment committee reviews and approves the recommendations and/or changes to the investment grading. These approved investment gradings are provided on a quarterly basis to the Audit Committee and our Board, along with valuations for our investments, which are submitted for approval by the Audit Committee and Board. From time to time, we will identify investments that require closer monitoring or become workout assets. We develop a workout strategy for workout assets and our investment committee monitors the progress against the strategy. We may incur losses from our investing activities; however, we work with our troubled portfolio companies and their financial sponsors to recover as much of our investments as is practicable, including possibly taking control of the portfolio company. There can be no assurance that principal will be recovered. We use the following investment grading system for our loans and debt investments: Grade Description Grade 1 Loans involve the least amount of risk in our portfolio. The borrower is performing above expectations, and the trends and risk profile is generally favorable. Grade 2 The borrower is performing as expected and the risk profile is neutral to favorable. All new loans are initially graded 2. Grade 3 The borrower may be performing below expectations, and the loan’s risk has increased materially since origination. We typically increase procedures to monitor a borrower when it is determined that credit risk has increased meaningfully since origination, such as, when the borrower is approaching a low liquidity point and an expected capital raise event is not imminent, when an expected milestone has slipped or failed, when performance or new business is materially below our plan, or if the estimated fair value of the enterprise is materially lower than it was when the loan was originated. Grade 4 The borrower is performing materially below expectations, and the loan risk has substantially increased since origination with the prospect of raising additional capital significantly in question. Loans graded 4 may experience some partial loss or full return of principal but are expected to realize some loss of interest which is not anticipated to be repaid in full, which, to the extent not already reflected, may require the fair value of the loan to be reduced to the amount we anticipate will be recovered. Grade 4 investments are closely monitored. Grade 5 The borrower is in workout, materially performing below expectations and a significant risk of principal loss is probable. Loans graded 5 will experience some partial principal loss or full loss of remaining principal outstanding is expected. Grade 5 loans will require the fair value of the loans be reduced to the amount, if any, we anticipate will be recovered. As of December 31, 2024, our investment portfolio had a weighted average investment grading of 2.26. COMPETITION Our primary competitors include non-bank financial institutions, federally or state-chartered banks, venture debt funds, financial institutions, venture capital funds, private equity funds, investment funds and investment banks. Many of these entities have greater financial and managerial resources than we have, and the 1940 Act imposes certain regulatory restrictions on us as a BDC to which many of our competitors are not subject. However, we believe that few of our competitors possess our level of expertise in properly structuring and pricing debt investments to venture capital-backed and institutional capital-backed companies in technology-related industries. We believe that our specialization in financing technology-related companies will enable us to determine a range of potential values of intellectual property assets, evaluate the business prospects and operating characteristics of prospective portfolio companies and, as a result, identify investment opportunities that produce attractive risk-adjusted returns. For additional information concerning the competitive risks we face, see “Item 1A. Risk Factors—Risks Related to our Business Structure—We operate in a highly competitive market for investment opportunities”.
Risk Factors [Table Text Block]										Risk Factors Investing in our securities involves a number of significant risks. In addition to the other information contained in this Annual Report, you should carefully consider the following information before making an investment in our securities. The risks set forth below are not the only risks we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us may also impair our operations and performance. If any of the following events occur, our business, financial condition, and results of operations could be materially adversely affected. In such case, our NAV and the trading price of our common stock or the value of our other securities could decline, and you may lose all or part of your investment. Risks Related To Our Business Structure We operate in a highly competitive market for investment opportunities. We compete for investments with a number of other investment funds (including venture capital and private equity funds, debt funds, BDCs and SBICs), as well as traditional financial services companies such as commercial and investment banks and other sources of funding. Many of our competitors are substantially larger and have considerably greater financial, technical, marketing and other resources than we do. For example, some competitors may have a lower cost of funds and/or access to funding sources that are not available to us. In addition, some of our competitors may have higher risk tolerances or different risk assessments than we have. Furthermore, many of our competitors are not subject to the regulatory restrictions that the 1940 Act imposes on us as a BDC or that the Code imposes on us as a RIC. These characteristics could allow our competitors to consider a wider variety of investments, establish more relationships and offer better pricing and more flexible structuring than we are able to do. We may lose investment opportunities if we do not match our competitors’ pricing, terms and/or structure. If we do match our competitors’ pricing, terms or structure, we may not be able to achieve acceptable returns on our investments or may bear substantial risk of capital loss. A significant increase in the number and/or the size of our competitors in this target market could force us to accept less attractive investment terms. We are dependent upon senior management personnel for our future success, particularly our CEO, Scott Bluestein. We depend upon the members of our senior management, particularly Mr. Bluestein, and other key personnel for the identification, final selection, structuring, closing and monitoring of our investments. These employees have critical industry experience and relationships on which we rely to implement our business plan. Our future success depends on the continued service of our senior management team. The departure of Mr. Bluestein or any member of our senior management team or a significant number of the members of our investment team could have a material adverse effect on our ability to achieve our investment objective as well as our business, financial condition or results of operation. As a result, we may not be able to operate our business as we expect, and our ability to compete could be harmed, which could cause our operating results to suffer. Our success depends on attracting and retaining qualified personnel in a competitive environment. Our growth requires that we attract and retain investment and administrative personnel in a competitive market. Our ability to attract and retain personnel with the requisite credentials, experience and skills depends on several factors including, but not limited to, our ability to offer competitive wages, benefits and professional growth opportunities. Many of the entities, including investment funds (such as venture capital funds, private equity funds, debt funds and mezzanine funds) and traditional financial services companies, with which we compete for experienced personnel have greater resources than we have. The competitive environment for qualified personnel may require us to take certain measures to ensure that we are able to attract and retain experienced personnel. Such measures may include increasing the attractiveness of our overall compensation packages, altering the structure of our compensation packages through the use of additional forms of compensation, or other steps. However, as an internally managed BDC, our ability to offer more competitive and flexible compensation structures, such as offering both a profit-sharing plan and an equity incentive plan, is subject to the limitations imposed by the 1940 Act, which limits our ability to attract and retain talented investment management professionals. As such, these limitations could inhibit our ability to grow, pursue our business plan and attract and retain professional talent, any or all of which may have a negative impact on our business, financial condition and results of operations. Our business model depends to a significant extent upon strong referral relationships for investment opportunities. We expect that members of our management team will maintain their relationships with venture capital and private equity firms, other financial institutions and intermediaries, investment bankers, commercial bankers, financial advisers, attorneys, accountants, consultants and other individuals within our network, and we will rely to a significant extent upon these relationships to provide us with potential investment opportunities. If we fail to maintain our existing relationships or develop new relationships with sources of investment opportunities, we will not be able to grow our investment portfolio. In addition, individuals with whom members of our management team have relationships are not obligated to provide us with investment opportunities and, therefore, there is no assurance that such relationships will generate investment opportunities for us. Our Board may change our operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse. Our Board has the authority to modify or waive certain of our current operating policies and strategies without prior notice and without stockholder approval. We cannot predict the effect any changes to our current operating policies and strategies would have on our business, NAV, operating results and value of our stock. However, the effect might be adverse, which could negatively impact our ability to pay interest and principal payments to holders of our debt instruments and dividends to our stockholders and cause our investors to lose all or part of their investment in us. We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the Federal Deposit Insurance Corporation, or FDIC, insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations or prospects. Although we assess our portfolio companies’ banking relationships as we believe necessary or appropriate, our and our portfolio companies’ access to funding sources and other credit arrangements in amounts adequate to finance or capitalize respective current and projected future business operations could be significantly impaired by factors that affect us or our portfolio companies, the financial institutions with which we or our portfolio companies have arrangements directly or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we or our portfolio companies have financial or business relationships, but could also include factors involving financial markets or the financial services industry generally. We are subject to risks related to corporate social responsibility. Our business faces increasing public scrutiny related to corporate social responsibility, including ESG activities. We risk damage to our brand and reputation if we fail to act responsibly in a number of areas, such as diversity and inclusion, environmental stewardship, support for local communities, corporate governance and transparency and considering ESG factors in our investment processes. Adverse incidents with respect to ESG activities could impact the value of our brand, the cost of our operations and relationships with investors, all of which could adversely affect our business and results of operations. Additionally, new regulatory initiatives related to ESG could adversely affect our business. In addition, different stakeholder groups have divergent views on ESG matters, which increases the risk that any action or lack thereof with respect to ESG matters will be perceived negatively by at least some stakeholders and may adversely impact our reputation and business. If we do not successfully manage ESG-related expectations across these varied stakeholder interests, it could erode stakeholder trust, impact our reputation and constrain our business. Risks Related To Our Investments The types of portfolio companies in which we invest involve significant risk, and we could lose all or part of our investment. Investing in the types of companies that comprise our portfolio companies exposes us indirectly to a number of significant risks. Among other things, these companies: • may have limited financial resources (including the inability to obtain additional equity or debt financing as needed) and may be unable to meet their obligations under their debt instruments that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of us realizing any guarantees from subsidiaries or affiliates of our portfolio companies that we may have obtained in connection with our investment, as well as a corresponding decrease in the value of the equity components of our investments; • may require substantial additional financing to satisfy their continuing working capital and other cash requirements; • may have shorter operating histories, narrower product lines, smaller market shares and/or significant customer concentrations than larger businesses, which tend to render them more vulnerable to competitors’ actions and market conditions, as well as general economic downturns; • are more likely to depend on the management talents and efforts of a small group of persons; therefore, the death, disability, resignation, termination or significant under-performance of one or more of these persons could have a material adverse impact on our portfolio company and, in turn, on us; • generally have less predictable operating results which may fluctuate suddenly and dramatically, may from time-to-time be parties to litigation, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, may require substantial additional capital to support their operations, finance expansion or maintain their competitive position, and may have more limited access to capital and higher funding costs; • may be adversely affected by a lack of IPO or merger and acquisition opportunities; and • generally have less publicly available information about their businesses, operations and financial condition. We are required to rely on the ability of our management team and investment professionals to obtain adequate information to evaluate the potential returns from investing in these companies. If we are unable to uncover all material information about these companies, we may not make a fully informed investment decision, and may lose all or part of our investment. In addition, in the course of providing significant managerial assistance to certain of our portfolio companies, certain of our officers and directors may serve as directors on the boards of directors of such companies. To the extent that litigation arises out of our investments in these companies, our officers and directors may be named as defendants in such litigation, which could result in an expenditure of funds (through our indemnification of such officers and directors) and the diversion of management time and resources. The lack of liquidity in our investments may adversely affect our business. We generally invest in companies whose securities are not publicly traded and/or whose securities will be subject to legal and other restrictions on resale or will otherwise be less liquid than publicly traded securities. The illiquidity of these investments may make it difficult for us to sell these investments when desired. In addition, if we are required to liquidate all or a portion of our portfolio quickly, we may realize significantly less than the value at which we had previously recorded these investments. As a result, we do not expect to achieve liquidity in our investments in the near-term. Our investments are usually subject to contractual or legal restrictions on resale or are otherwise illiquid because there is usually no established trading market for such investments. Even if an established trading market for such securities were established, we may be limited in our ability to divest ourselves from a debt or equity instrument for a variety of reasons, such as limited trading volume in a public company’s securities, or regulatory factors such as the receipt of material non-public information or insider blackout periods when we are legally prohibited from selling. The illiquidity of most of our investments may make it difficult for us to dispose of them at a favorable price or at all and, as a result, we may suffer losses. A lack of IPO or merger and acquisition opportunities may cause companies to stay in our portfolio longer, leading to lower returns, unrealized depreciation, or realized losses. A lack of IPO or merger and acquisition, or M&A, opportunities for private companies, including venture capital-backed and institutional-backed companies could lead to portfolio companies staying longer in our portfolio as private entities still requiring funding. IPO activity has remained stagnant over the last several years and this trend may remain for the foreseeable future. This situation may adversely affect the amount of available funding for early-stage companies in particular as, in general, venture capital, institutional, and other sponsor firms are being forced to provide additional financing to late-stage companies that cannot complete an IPO or M&A transaction. In the best case, such stagnation would dampen returns, and in the worst case, could lead to unrealized depreciation and realized losses as some portfolio companies run short of cash and have to accept lower valuations in private fundings or are not able to access additional capital at all. A lack of IPO or M&A opportunities for private companies can also cause some venture capital, institutional, and other sponsor firms to change their strategies, leading some of them to reduce funding to their portfolio companies and making it more difficult for such companies to access capital and to fulfill their potential, which can result in unrealized depreciation and realized losses in our investments in such portfolio companies. Investing in publicly traded companies can involve a high degree of risk and can be speculative. A portion of our portfolio is invested in publicly traded companies or companies that are in the process of completing an IPO. As publicly traded companies, the securities of these companies may not trade at high volumes, and prices can be volatile, particularly during times of general market volatility, which may restrict our ability to sell our positions and may have a material adverse impact on us. In addition, our ability to invest in public companies may be limited in certain circumstances. To maintain our status as a BDC, we are not permitted to acquire any assets other than “qualifying assets” specified in the 1940 Act unless, at the time the acquisition is made, at least 70% of our total assets are qualifying assets (with certain limited exceptions). Subject to certain exceptions for follow-on investments and distressed companies, an investment in an issuer that has outstanding securities listed on a national securities exchange may be treated as a qualifying asset only if such issuer has a market capitalization that is less than $250.0 million at any point in the 60 days prior to the time of such investment and meets certain other requirements. Our investments are concentrated in certain technology-related industries, which subjects us to the risk of significant loss if any one or more of such industries experiences a downturn. We have invested and intend to continue investing in companies that operate in technology-related industries. A downturn in one or more technology-related industry sectors and particularly those in which we are heavily concentrated could materially adversely affect our financial condition more than if we invested in a wider range of industries. As of December 31, 2024, approximately 85.9% of the fair value of our portfolio comprised investments in four industries: 29.5% comprised investments in the “Software” industry , 29.5% comprised investments in the “Drug Discovery and Development” industry,16.7% comprised investments in the “Healthcare Services, Other” industry, and 10.2% in the “Consumer & Business Services industry”. Companies in technology-related industries are subject to numerous risks, including: • Technology Industry (including Software and Consumer & Business Services Industries) Risk. The market prices and values of companies operating in the technology industry – including software and consumer and business services companies – tend to exhibit a greater degree of risk and volatility than other types of investments. These companies may fall in and out of favor with the public and investors rapidly, which may cause sudden selling and dramatically lower market prices. These companies also may be affected adversely by changes in technology, consumer and business purchasing patterns, short product cycles, falling prices and profits, government regulation, lack of standardization or compatibility with existing technologies, intense competition, aggressive pricing, advances in artificial intelligence and machine learning, dependence on copyright and/or patent protection and/or obsolete products or services. Certain technology-related companies may face special risks that their products or services may not prove to be commercially successful. Technology-related companies are also strongly affected by worldwide scientific or technological developments. As a result, their products may rapidly become obsolete. Companies in the application software industry, in particular, may also be negatively affected by the decline or fluctuation of subscription renewal rates for their products and services, which may have an adverse effect on profit margins. Companies in the systems software industry may be adversely affected by, among other things, actual or perceived security vulnerabilities in their products and services, which may result in individual or class action lawsuits, state or federal enforcement actions and other remediation costs. Such companies are also often subject to governmental regulation and may, therefore, be adversely affected by governmental policies. In addition, a rising interest rate environment tends to negatively affect technology and technology-related companies. Those technology or technology-related companies seeking to finance their expansion would have increased borrowing costs, which may negatively impact their earnings. Technology-related companies are often smaller and less experienced companies and may be subject to greater risks than larger companies, such as limited product lines, markets and financial and managerial resources. These risks may be heightened for technology companies in foreign markets. • Drug Discovery & Development Industry Risk . The success of pharmaceutical companies operating in the drug discovery and development industry is highly dependent on the development, procurement and marketing of drugs. The valuations of pharmaceutical companies are also dependent on the development, protection and exploitation of intellectual property rights and other proprietary information, and the profitability of pharmaceutical companies may be significantly affected by such things as the expiration of patents or the loss of, or the inability to enforce, intellectual property rights. The research and other costs associated with developing or procuring new drugs and the related intellectual property rights can be significant, and the results of such research and expenditures are unpredictable. There can be no assurance that those efforts or costs will result in the development of a profitable drug. Pharmaceutical companies may be susceptible to product obsolescence. Many pharmaceutical companies face intense competition from new products and less costly generic products. Moreover, the process for obtaining regulatory approval by the FDA or other governmental regulatory authorities is long and costly and there can be no assurance that the necessary approvals will be obtained or maintained. Furthermore, it is unclear whether the new U.S. presidential administration will propose or implement significant regulatory or policy changes that may significantly impact the drug discovery and development industry. Such changes could impact the actions or inactions of the FDA or other governmental regulatory authorities with respect to the receipt or continuation of approvals. Pharmaceutical companies are also subject to rapid and significant technological change and competitive forces that may make drugs obsolete or make it difficult to raise prices and, in fact, may result in price discounting. Pharmaceutical companies may also be subject to expenses and losses from extensive litigation based on intellectual property, product liability and similar claims. Failure of pharmaceutical companies to comply with applicable laws and regulations can result in the imposition of civil and criminal fines, penalties and, in some instances, exclusion of participation in government sponsored programs such as Medicare and Medicaid. Pharmaceutical companies may be adversely affected by government regulation and changes in reimbursement rates. The ability of many pharmaceutical companies to commercialize current and any future products depends in part on the extent to which reimbursement for the cost of such products and related treatments are available from third party payors, such as Medicare, Medicaid, private health insurance plans and health maintenance organizations. Third-party payors are increasingly challenging the price and cost-effectiveness of medical products. Significant uncertainty exists as to the reimbursement status of health care products, and there can be no assurance that adequate third-party coverage will be available for pharmaceutical companies to obtain satisfactory price levels for their products. The international operations of many pharmaceutical companies expose them to risks associated with instability and changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations and other risks inherent to international business. Additionally, a pharmaceutical company’s valuation can often be based largely on the potential or actual performance of a limited number of products. A pharmaceutical company’s valuation can also be greatly affected if one of its products proves unsafe, ineffective or unprofitable. Such companies also may be characterized by thin capitalization and limited markets, financial resources or personnel, as well as dependence on wholesale distributors. The valuations of companies in the pharmaceutical industry have been and will likely continue to be extremely volatile. • Healthcare Services Industry Risk . The operations of healthcare services companies are subject to extensive federal, state and local government regulations, including Medicare and Medicaid payment rules and regulations, federal and state anti-kickback laws, the physician self-referral law and analogous state self-referral prohibition statutes, Federal Acquisition Regulations, the False Claims Act and federal and state laws regarding the collection, use and disclosure of patient health information and the storage, handling and administration of pharmaceuticals. The Medicare and Medicaid reimbursement rules related to claims submission, enrollment and licensing requirements, cost reporting, and payment processes impose complex and extensive requirements upon dialysis providers as well. A violation or departure from any of these legal requirements may result in government audits, lower reimbursements, significant fines and penalties, the potential loss of certification, recoupment efforts or voluntary repayments. If healthcare services companies fail to adhere to all of the complex government regulations that apply to their businesses, such companies could suffer severe consequences that would substantially reduce revenues, earnings, cash flows and stock prices. If healthcare companies are unable to successfully expand their product lines through internal research and development and acquisitions, their business may be materially and adversely affected. In addition, if these companies are unable to successfully grow their businesses through marketing partnerships and acquisitions, their business may be materially and adversely affected. Furthermore, it is unclear whether the new U.S. presidential administration will propose or implement significant regulatory or policy changes that may significantly impact, directly or indirectly, the healthcare services industry. We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited by the 1940 Act with respect to the proportion of our assets that may be invested in securities of a single issuer. In addition, our financial results could be negatively affected if a significant portfolio investment fails to perform as expected. We are classified as a non-diversified investment company within the meaning of the 1940 Act, which means that we are not limited by the 1940 Act with respect to the proportion of our assets that we may invest in securities of a single issuer. Under the 1940 Act, a “diversified” investment company is required to invest at least 75% of the value of its total assets in cash and cash items, government securities, securities of other investment companies and other securities limited in respect of any one issuer to an amount not greater than 5% of the value of the total assets of such company and no more than 10% of the outstanding voting securities of such issuer. As a non-diversified investment company, we are not subject to this requirement. Beyond our RIC asset diversification requirements, we do not have fixed guidelines for portfolio diversification, and our investments could be concentrated in relatively few portfolio companies. See “Risk Factors – Risks Related to Operating as a RIC and U.S. Federal Income Taxes.” Although we are classified as a non-diversified investment company within the meaning of the 1940 Act, we maintain the flexibility to operate as a diversified investment company. Because we are a non-diversified investment company, our total investment in companies may be significant individually or in the aggregate. As a result, if a significant investment in one or more companies fails to perform as expected, our financial results could be more negatively affected, and the magnitude of the loss could be more significant than if we had made smaller investments in more companies. Further, to the extent that we assume large positions in the securities of a small number of issuers, our NAV may fluctuate to a greater extent than that of a diversified investment company as a result of changes in the financial condition or the market’s assessment of the issuer. We may also be more susceptible to any single economic or regulatory occurrence than a diversified investment company might be. The following table shows the fair value of the investments held in portfolio companies as of December 31, 2024, that represent greater than 5% of our net assets: (in thousands) December 31, 2024 Fair Value Percentage of Net Assets Phathom Pharmaceuticals, Inc. $ 177,348 8.9 % Marathon Health, LLC 166,882 8.4 % Axsome Therapeutics, Inc. 165,220 8.3 % Shield AI, Inc. 113,701 5.7 % SeatGeek, Inc. 110,413 5.5 % Corium, Inc. 109,178 5.5 % • Phathom Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. • Marathon Health, LLC is a provider of employer-sponsored healthcare platform intended to provide convenient and unhurried patient-centered care services. • Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system disorders for which there are limited treatment options. • Shield AI, Inc. is an aerospace and defense technology company that designs and builds AI-powered, autonomous Unmanned Aerial Vehicles (UAVs) for national defense operations and military organizations. • SeatGeek, Inc. is a mobile-focused ticket platform that enables users to buy and sell tickets for live sports, concerts and theater events. • Corium, Inc. develops, engineers, and manufactures drug delivery products and devices that utilize the skin and mucosa as a primary means of transport. Our financial results could be materially adversely affected if one of more of these portfolio companies or any of our other significant portfolio companies encounter financial difficulty and fail to repay their obligations or to perform as expected. We may be exposed to higher risks with respect to our investments that include PIK interest or exit fees. Our investments may include contractual PIK interest and exit fees. PIK interest represents contractual interest added to a loan’s principal balance and is due in accordance with the loan’s amortization terms. Exit fees represent a contractual fee accrued over the life of the loan and is typically due at loan payoff. To the extent PIK interest and exit fees constitute a portion of our income, we are exposed to typical risks associated with such income being required to be included in taxable and accounting income prior to receipt of cash, including the following: • PIK interest and exit fee instruments may have higher yields, which reflect the payment deferral and credit risk associated with these instruments; • PIK interest and exit fee instruments may have unreliable valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of the collateral; and • PIK interest and exit fee instruments may represent a higher credit risk than coupon loans; even if the conditions for income accrual under generally accepted accounting principles in the United States of America (“U.S. GAAP”) are satisfied, a borrower could still default when actual payment is due upon the maturity of such loan. We may not have the
Effects of Leverage [Text Block]										Illustration. The following table illustrates the effect of leverage on returns from an investment in our common stock assuming that we employ (1) our actual asset coverage ratio as of December 31, 2024, and (2) a hypothetical asset coverage ratio of 150% (each excluding our SBA debentures as permitted by our exemptive relief) each at various annual returns on our portfolio as of December 31, 2024, net of expenses. The calculations in the table below are hypothetical, and actual returns may be higher or lower than those appearing in the table below. Annual Return on Our Portfolio (Net of Expenses) -10% -5% 0% 5% 10% Corresponding return to common stockholder assuming our actual asset coverage of 231.7% as of December 31, 2024 (1) (23.77%) (14.14%) (4.51%) 5.12% 14.75% Corresponding return to common stockholder assuming 150% asset coverage (2) (42.32%) (26.52%) (10.72%) 5.08% 20.89% (1) Assumes $3.8 billion in total assets, $1.8 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024. Actual interest payments may be different. (2) Assumes $6.3 billion in total assets including debt issuance costs on a pro forma basis, $4.2 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024, along with the hypothetical estimated incremental cost of debt that would be incurred on offering the maximum permissible debt under the 150% asset coverage. Actual interest payments may be different.
Effects of Leverage [Table Text Block]										The calculations in the table below are hypothetical, and actual returns may be higher or lower than those appearing in the table below. Annual Return on Our Portfolio (Net of Expenses) -10% -5% 0% 5% 10% Corresponding return to common stockholder assuming our actual asset coverage of 231.7% as of December 31, 2024 (1) (23.77%) (14.14%) (4.51%) 5.12% 14.75% Corresponding return to common stockholder assuming 150% asset coverage (2) (42.32%) (26.52%) (10.72%) 5.08% 20.89% (1) Assumes $3.8 billion in total assets, $1.8 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024. Actual interest payments may be different. (2) Assumes $6.3 billion in total assets including debt issuance costs on a pro forma basis, $4.2 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024, along with the hypothetical estimated incremental cost of debt that would be incurred on offering the maximum permissible debt under the 150% asset coverage. Actual interest payments may be different.
Return at Minus Ten [Percent]										(23.77%)
Return at Minus Five [Percent]										(14.14%)
Return at Zero [Percent]										(4.51%)
Return at Plus Five [Percent]										5.12%
Return at Plus Ten [Percent]										14.75%
Share Price [Table Text Block]										Price Range of Common Stock and Distributions The following table sets forth the range of high and low closing sales prices of our common stock, the sales price as a percentage of NAV and the distributions declared by us for each fiscal quarter. The stock quotations are interdealer quotations and do not include markups, markdowns or commissions. Price Range Premium/ Discount of High Sales Price to NAV Premium/ Discount of Low Sales Price to NAV Cash Distribution per Share (2) NAV (1) High Low Year Ended December 31, 2023 First quarter $ 10.82 $ 16.24 $ 11.56 50.1 % 6.8 % $ 0.47 Second quarter $ 10.96 $ 15.08 $ 12.38 37.6 % 13.0 % $ 0.47 Third quarter $ 10.93 $ 18.02 $ 14.86 64.9 % 36.0 % $ 0.48 Fourth quarter $ 11.43 $ 16.93 $ 15.09 48.2 % 32.1 % $ 0.48 Year Ended December 31, 2024 First quarter $ 11.63 $ 18.77 $ 16.67 61.4 % 43.3 % $ 0.48 Second quarter $ 11.43 $ 19.92 $ 17.07 74.3 % 49.3 % $ 0.48 Third quarter $ 11.40 $ 21.67 $ 17.71 90.1 % 55.4 % $ 0.48 Fourth quarter $ 11.66 $ 20.22 $ 18.53 73.4 % 58.9 % $ 0.48 Year Ending December 31, 2025 First quarter (through February 6, 2025) * $ 21.15 $ 19.73 * * $ 0.47 * Net asset value has not yet been calculated for this period. (1) NAV per share is generally determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period. (2) Represents the dividend or distribution declared in the relevant quarter.
Lowest Price or Bid	$ 19.73	$ 18.53	$ 17.71	$ 17.07	$ 16.67	$ 15.09	$ 14.86	$ 12.38	$ 11.56
Highest Price or Bid	$ 21.15	$ 20.22	$ 21.67	$ 19.92	$ 18.77	$ 16.93	$ 18.02	$ 15.08	$ 16.24
Highest Price or Bid, Premium (Discount) to NAV [Percent]		73.40%	90.10%	74.30%	61.40%	48.20%	64.90%	37.60%	50.10%
Lowest Price or Bid, Premium (Discount) to NAV [Percent]		58.90%	55.40%	49.30%	43.30%	32.10%	36%	13%	6.80%
Share Price		$ 20.09				$ 16.67				$ 20.09	$ 16.67	$ 13.22	$ 16.59	$ 14.42	$ 14.02	$ 11.05	$ 13.12	$ 14.11	$ 12.19
NAV Per Share		$ 11.66	$ 11.40	$ 11.43	$ 11.63	$ 11.43	$ 10.93	$ 10.96	$ 10.82	$ 11.66	$ 11.43	$ 10.53	$ 11.22	$ 11.26	$ 10.55	$ 9.90	$ 9.96	$ 9.90	$ 9.94	$ 10.18
We Operate In A Highly Competitive Market For Investment Opportunities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We operate in a highly competitive market for investment opportunities. We compete for investments with a number of other investment funds (including venture capital and private equity funds, debt funds, BDCs and SBICs), as well as traditional financial services companies such as commercial and investment banks and other sources of funding. Many of our competitors are substantially larger and have considerably greater financial, technical, marketing and other resources than we do. For example, some competitors may have a lower cost of funds and/or access to funding sources that are not available to us. In addition, some of our competitors may have higher risk tolerances or different risk assessments than we have. Furthermore, many of our competitors are not subject to the regulatory restrictions that the 1940 Act imposes on us as a BDC or that the Code imposes on us as a RIC. These characteristics could allow our competitors to consider a wider variety of investments, establish more relationships and offer better pricing and more flexible structuring than we are able to do. We may lose investment opportunities if we do not match our competitors’ pricing, terms and/or structure. If we do match our competitors’ pricing, terms or structure, we may
We are dependent upon senior management personnel for our future success, particularly our CEO, Scott Bluestein [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We are dependent upon senior management personnel for our future success, particularly our CEO, Scott Bluestein. We depend upon the members of our senior management, particularly Mr. Bluestein, and other key personnel for the identification, final selection, structuring, closing and monitoring of our investments. These employees have critical industry experience and relationships on which we rely to implement our business plan. Our future success depends on the continued service of our senior management team. The departure of Mr. Bluestein or any member of our senior management team or a significant number of the members of our investment team could have a material adverse effect on our ability to achieve our investment objective as well as our business, financial condition or results of operation. As a result, we may not be able to operate our business as we expect, and our ability to compete could be harmed, which could cause our operating results to suffer.
Our success depends on attracting and retaining qualified personnel in a competitive environment [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our success depends on attracting and retaining qualified personnel in a competitive environment. Our growth requires that we attract and retain investment and administrative personnel in a competitive market. Our ability to attract and retain personnel with the requisite credentials, experience and skills depends on several factors including, but not limited to, our ability to offer competitive wages, benefits and professional growth opportunities. Many of the entities, including investment funds (such as venture capital funds, private equity funds, debt funds and mezzanine funds) and traditional financial services companies, with which we compete for experienced personnel have greater resources than we have. The competitive environment for qualified personnel may require us to take certain measures to ensure that we are able to attract and retain experienced personnel. Such measures may include increasing the attractiveness of our overall compensation packages, altering the structure of our compensation packages through the use of additional forms of compensation, or other steps. However, as an internally managed BDC, our ability to offer more competitive and flexible compensation structures, such as offering both a profit-sharing plan and an equity incentive plan, is subject to the limitations imposed by the 1940 Act, which limits our ability to attract and retain talented investment management professionals. As such, these limitations could inhibit our ability to grow, pursue our business plan and attract and retain professional talent, any or all of which may have a negative impact on our business, financial condition and results of operations.
Our business model depends to a significant extent upon our strong referral relationships for investment opportunities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our business model depends to a significant extent upon strong referral relationships for investment opportunities.
Our Board may change our operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our Board may change our operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse.
We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the Federal Deposit Insurance Corporation, or FDIC, insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations or prospects. Although we assess our portfolio companies’ banking relationships as we believe necessary or appropriate, our and our portfolio companies’ access to funding sources and other credit arrangements in amounts adequate to finance or capitalize respective current and projected future business operations could be significantly impaired by factors that affect us or our portfolio companies, the financial institutions with which we or our portfolio companies have arrangements directly or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we or our portfolio companies have financial or business relationships, but could also include factors involving financial markets or the financial services industry generally.
We are subject to risks related to corporate social responsibility [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We are subject to risks related to corporate social responsibility. Our business faces increasing public scrutiny related to corporate social responsibility, including ESG activities. We risk damage to our brand and reputation if we fail to act responsibly in a number of areas, such as diversity and inclusion, environmental stewardship, support for local communities, corporate governance and transparency and considering ESG factors in our investment processes. Adverse incidents with respect to ESG activities could impact the value of our brand, the cost of our operations and relationships with investors, all of which could adversely affect our business and results of operations. Additionally, new regulatory initiatives related to ESG could adversely affect our business. In addition, different stakeholder groups have divergent views on ESG matters, which increases the risk that any action or lack thereof with respect to ESG matters will be perceived negatively by at least some stakeholders and may adversely impact our reputation and business. If we do not successfully manage ESG-related expectations across these varied stakeholder interests, it could erode stakeholder trust, impact our reputation and constrain our business.
The types of portfolio companies in which we invest involve significant risk, and we could lose all or part of our investment [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The types of portfolio companies in which we invest involve significant risk, and we could lose all or part of our investment. Investing in the types of companies that comprise our portfolio companies exposes us indirectly to a number of significant risks. Among other things, these companies: • may have limited financial resources (including the inability to obtain additional equity or debt financing as needed) and may be unable to meet their obligations under their debt instruments that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of us realizing any guarantees from subsidiaries or affiliates of our portfolio companies that we may have obtained in connection with our investment, as well as a corresponding decrease in the value of the equity components of our investments; • may require substantial additional financing to satisfy their continuing working capital and other cash requirements; • may have shorter operating histories, narrower product lines, smaller market shares and/or significant customer concentrations than larger businesses, which tend to render them more vulnerable to competitors’ actions and market conditions, as well as general economic downturns; • are more likely to depend on the management talents and efforts of a small group of persons; therefore, the death, disability, resignation, termination or significant under-performance of one or more of these persons could have a material adverse impact on our portfolio company and, in turn, on us; • generally have less predictable operating results which may fluctuate suddenly and dramatically, may from time-to-time be parties to litigation, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, may require substantial additional capital to support their operations, finance expansion or maintain their competitive position, and may have more limited access to capital and higher funding costs; • may be adversely affected by a lack of IPO or merger and acquisition opportunities; and • generally have less publicly available information about their businesses, operations and financial condition. We are required to rely on the ability of our management team and investment professionals to obtain adequate information to evaluate the potential returns from investing in these companies. If we are unable to uncover all material information about these companies, we may not make a fully informed investment decision, and may lose all or part of our investment. In addition, in the course of providing significant managerial assistance to certain of our portfolio companies, certain of our officers and directors may serve as directors on the boards of directors of such companies. To the extent that litigation arises out of our investments in these companies, our officers and directors may be named as defendants in such litigation, which could result in an expenditure of funds (through our indemnification of such officers and directors) and the diversion of management time and resources.
The lack of liquidity in our investments may adversely affect our business [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The lack of liquidity in our investments may adversely affect our business. We generally invest in companies whose securities are not publicly traded and/or whose securities will be subject to legal and other restrictions on resale or will otherwise be less liquid than publicly traded securities. The illiquidity of these investments may make it difficult for us to sell these investments when desired. In addition, if we are required to liquidate all or a portion of our portfolio quickly, we may realize significantly less than the value at which we had previously recorded these investments. As a result, we do not expect to achieve liquidity in our investments in the near-term. Our investments are usually subject to contractual or legal restrictions on resale or are otherwise illiquid because there is usually no established trading market for such investments. Even if an established trading market for such securities were established, we may be limited in our ability to divest ourselves from a debt or equity instrument for a variety of reasons, such as limited trading volume in a public company’s securities, or regulatory factors such as the receipt of material non-public information or insider blackout periods when we are legally prohibited from selling. The illiquidity of most of our investments may make it difficult for us to dispose of them at a favorable price or at all and, as a result, we may suffer losses.
A lack of IPO or merger and acquisition opportunities may cause companies to stay in our portfolio longer, leading to lower returns, unrealized depreciation, or realized losses [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										A lack of IPO or merger and acquisition opportunities may cause companies to stay in our portfolio longer, leading to lower returns, unrealized depreciation, or realized losses.
Investing in publicly traded companies can involve a high degree of risk and can be speculative [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Investing in publicly traded companies can involve a high degree of risk and can be speculative. A portion of our portfolio is invested in publicly traded companies or companies that are in the process of completing an IPO. As publicly traded companies, the securities of these companies may not trade at high volumes, and prices can be volatile, particularly during times of general market volatility, which may restrict our ability to sell our positions and may have a material adverse impact on us. In addition, our ability to invest in public companies may be limited in certain circumstances. To maintain our status as a BDC, we are not permitted to acquire any assets other than “qualifying assets” specified in the 1940 Act unless, at the time the acquisition is made, at least 70% of our total assets are qualifying assets (with certain limited exceptions). Subject to certain exceptions for follow-on investments and distressed companies, an investment in an issuer that has outstanding securities listed on a national securities exchange may be treated as a qualifying asset only if such issuer has a market capitalization that is less than $250.0 million at any point in the 60 days prior to the time of such investment and meets certain other requirements.
Our investments are concentrated in certain technology-related industries, which subjects us to the risk of significant loss if any one or more of such industries experiences a downturn [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our investments are concentrated in certain technology-related industries, which subjects us to the risk of significant loss if any one or more of such industries experiences a downturn. We have invested and intend to continue investing in companies that operate in technology-related industries. A downturn in one or more technology-related industry sectors and particularly those in which we are heavily concentrated could materially adversely affect our financial condition more than if we invested in a wider range of industries. As of December 31, 2024, approximately 85.9% of the fair value of our portfolio comprised investments in four industries: 29.5% comprised investments in the “Software” industry , 29.5% comprised investments in the “Drug Discovery and Development” industry,16.7% comprised investments in the “Healthcare Services, Other” industry, and 10.2% in the “Consumer & Business Services industry”. Companies in technology-related industries are subject to numerous risks, including: • Technology Industry (including Software and Consumer & Business Services Industries) Risk. The market prices and values of companies operating in the technology industry – including software and consumer and business services companies – tend to exhibit a greater degree of risk and volatility than other types of investments. These companies may fall in and out of favor with the public and investors rapidly, which may cause sudden selling and dramatically lower market prices. These companies also may be affected adversely by changes in technology, consumer and business purchasing patterns, short product cycles, falling prices and profits, government regulation, lack of standardization or compatibility with existing technologies, intense competition, aggressive pricing, advances in artificial intelligence and machine learning, dependence on copyright and/or patent protection and/or obsolete products or services. Certain technology-related companies may face special risks that their products or services may not prove to be commercially successful. Technology-related companies are also strongly affected by worldwide scientific or technological developments. As a result, their products may rapidly become obsolete. Companies in the application software industry, in particular, may also be negatively affected by the decline or fluctuation of subscription renewal rates for their products and services, which may have an adverse effect on profit margins. Companies in the systems software industry may be adversely affected by, among other things, actual or perceived security vulnerabilities in their products and services, which may result in individual or class action lawsuits, state or federal enforcement actions and other remediation costs. Such companies are also often subject to governmental regulation and may, therefore, be adversely affected by governmental policies. In addition, a rising interest rate environment tends to negatively affect technology and technology-related companies. Those technology or technology-related companies seeking to finance their expansion would have increased borrowing costs, which may negatively impact their earnings. Technology-related companies are often smaller and less experienced companies and may be subject to greater risks than larger companies, such as limited product lines, markets and financial and managerial resources. These risks may be heightened for technology companies in foreign markets. • Drug Discovery & Development Industry Risk . The success of pharmaceutical companies operating in the drug discovery and development industry is highly dependent on the development, procurement and marketing of drugs. The valuations of pharmaceutical companies are also dependent on the development, protection and exploitation of intellectual property rights and other proprietary information, and the profitability of pharmaceutical companies may be significantly affected by such things as the expiration of patents or the loss of, or the inability to enforce, intellectual property rights. The research and other costs associated with developing or procuring new drugs and the related intellectual property rights can be significant, and the results of such research and expenditures are unpredictable. There can be no assurance that those efforts or costs will result in the development of a profitable drug. Pharmaceutical companies may be susceptible to product obsolescence. Many pharmaceutical companies face intense competition from new products and less costly generic products. Moreover, the process for obtaining regulatory approval by the FDA or other governmental regulatory authorities is long and costly and there can be no assurance that the necessary approvals will be obtained or maintained. Furthermore, it is unclear whether the new U.S. presidential administration will propose or implement significant regulatory or policy changes that may significantly impact the drug discovery and development industry. Such changes could impact the actions or inactions of the FDA or other governmental regulatory authorities with respect to the receipt or continuation of approvals. Pharmaceutical companies are also subject to rapid and significant technological change and competitive forces that may make drugs obsolete or make it difficult to raise prices and, in fact, may result in price discounting. Pharmaceutical companies may also be subject to expenses and losses from extensive litigation based on intellectual property, product liability and similar claims. Failure of pharmaceutical companies to comply with applicable laws and regulations can result in the imposition of civil and criminal fines, penalties and, in some instances, exclusion of participation in government sponsored programs such as Medicare and Medicaid. Pharmaceutical companies may be adversely affected by government regulation and changes in reimbursement rates. The ability of many pharmaceutical companies to commercialize current and any future products depends in part on the extent to which reimbursement for the cost of such products and related treatments are available from third party payors, such as Medicare, Medicaid, private health insurance plans and health maintenance organizations. Third-party payors are increasingly challenging the price and cost-effectiveness of medical products. Significant uncertainty exists as to the reimbursement status of health care products, and there can be no assurance that adequate third-party coverage will be available for pharmaceutical companies to obtain satisfactory price levels for their products. The international operations of many pharmaceutical companies expose them to risks associated with instability and changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations and other risks inherent to international business. Additionally, a pharmaceutical company’s valuation can often be based largely on the potential or actual performance of a limited number of products. A pharmaceutical company’s valuation can also be greatly affected if one of its products proves unsafe, ineffective or unprofitable. Such companies also may be characterized by thin capitalization and limited markets, financial resources or personnel, as well as dependence on wholesale distributors. The valuations of companies in the pharmaceutical industry have been and will likely continue to be extremely volatile. • Healthcare Services Industry Risk . The operations of healthcare services companies are subject to extensive federal, state and local government regulations, including Medicare and Medicaid payment rules and regulations, federal and state anti-kickback laws, the physician self-referral law and analogous state self-referral prohibition statutes, Federal Acquisition Regulations, the False Claims Act and federal and state laws regarding the collection, use and disclosure of patient health information and the storage, handling and administration of pharmaceuticals. The Medicare and Medicaid reimbursement rules related to claims submission, enrollment and licensing requirements, cost reporting, and payment processes impose complex and extensive requirements upon dialysis providers as well. A violation or departure from any of these legal requirements may result in government audits, lower reimbursements, significant fines and penalties, the potential loss of certification, recoupment efforts or voluntary repayments. If healthcare services companies fail to adhere to all of the complex government regulations that apply to their businesses, such companies could suffer severe consequences that would substantially reduce revenues, earnings, cash flows and stock prices. If healthcare companies are unable to successfully expand their product lines through internal research and development and acquisitions, their business may be materially and adversely affected. In addition, if these companies are unable to successfully grow their businesses through marketing partnerships and acquisitions, their business may be materially and adversely affected. Furthermore, it is unclear whether the new U.S. presidential administration will propose or implement significant regulatory or policy changes that may significantly impact, directly or indirectly, the healthcare services industry.
Our financial results could be negatively affected if a significant portfolio investment fails to perform as expected [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited by the 1940 Act with respect to the proportion of our assets that may be invested in securities of a single issuer. In addition, our financial results could be negatively affected if a significant portfolio investment fails to perform as expected. We are classified as a non-diversified investment company within the meaning of the 1940 Act, which means that we are not limited by the 1940 Act with respect to the proportion of our assets that we may invest in securities of a single issuer. Under the 1940 Act, a “diversified” investment company is required to invest at least 75% of the value of its total assets in cash and cash items, government securities, securities of other investment companies and other securities limited in respect of any one issuer to an amount not greater than 5% of the value of the total assets of such company and no more than 10% of the outstanding voting securities of such issuer. As a non-diversified investment company, we are not subject to this requirement. Beyond our RIC asset diversification requirements, we do not have fixed guidelines for portfolio diversification, and our investments could be concentrated in relatively few portfolio companies. See “Risk Factors – Risks Related to Operating as a RIC and U.S. Federal Income Taxes.” Although we are classified as a non-diversified investment company within the meaning of the 1940 Act, we maintain the flexibility to operate as a diversified investment company. Because we are a non-diversified investment company, our total investment in companies may be significant individually or in the aggregate. As a result, if a significant investment in one or more companies fails to perform as expected, our financial results could be more negatively affected, and the magnitude of the loss could be more significant than if we had made smaller investments in more companies. Further, to the extent that we assume large positions in the securities of a small number of issuers, our NAV may fluctuate to a greater extent than that of a diversified investment company as a result of changes in the financial condition or the market’s assessment of the issuer. We may also be more susceptible to any single economic or regulatory occurrence than a diversified investment company might be. The following table shows the fair value of the investments held in portfolio companies as of December 31, 2024, that represent greater than 5% of our net assets: (in thousands) December 31, 2024 Fair Value Percentage of Net Assets Phathom Pharmaceuticals, Inc. $ 177,348 8.9 % Marathon Health, LLC 166,882 8.4 % Axsome Therapeutics, Inc. 165,220 8.3 % Shield AI, Inc. 113,701 5.7 % SeatGeek, Inc. 110,413 5.5 % Corium, Inc. 109,178 5.5 % • Phathom Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. • Marathon Health, LLC is a provider of employer-sponsored healthcare platform intended to provide convenient and unhurried patient-centered care services. • Axsome Therapeutics, Inc. is a biopharmaceutical company developing novel therapies for the management of central nervous system disorders for which there are limited treatment options. • Shield AI, Inc. is an aerospace and defense technology company that designs and builds AI-powered, autonomous Unmanned Aerial Vehicles (UAVs) for national defense operations and military organizations. • SeatGeek, Inc. is a mobile-focused ticket platform that enables users to buy and sell tickets for live sports, concerts and theater events. • Corium, Inc. develops, engineers, and manufactures drug delivery products and devices that utilize the skin and mucosa as a primary means of transport. Our financial results could be materially adversely affected if one of more of these portfolio companies or any of our other significant portfolio companies encounter financial difficulty and fail to repay their obligations or to perform as expected.
We may be exposed to higher risks with respect to our investments that include PIK interest or exit fees [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may be exposed to higher risks with respect to our investments that include PIK interest or exit fees. Our investments may include contractual PIK interest and exit fees. PIK interest represents contractual interest added to a loan’s principal balance and is due in accordance with the loan’s amortization terms. Exit fees represent a contractual fee accrued over the life of the loan and is typically due at loan payoff. To the extent PIK interest and exit fees constitute a portion of our income, we are exposed to typical risks associated with such income being required to be included in taxable and accounting income prior to receipt of cash, including the following: • PIK interest and exit fee instruments may have higher yields, which reflect the payment deferral and credit risk associated with these instruments; • PIK interest and exit fee instruments may have unreliable valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of the collateral; and • PIK interest and exit fee instruments may represent a higher credit risk than coupon loans; even if the conditions for income accrual under generally accepted accounting principles in the United States of America (“U.S. GAAP”) are satisfied, a borrower could still default when actual payment is due upon the maturity of such loan.
We may not have the funds or ability to make additional investments in our portfolio companies [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may not have the funds or ability to make additional investments in our portfolio companies. We may not have the funds or ability to make additional investments in our portfolio companies. After our initial investment in a portfolio company, we may be called upon from time to time to provide additional funds to such company or have the opportunity to increase our investment through the extension of additional loans, the exercise of a warrant to purchase equity securities, or the funding of additional equity investments. There is no assurance that we will make, or will have sufficient funds to make, follow-on investments. Any decisions not to make a follow-on investment or any inability on our part to make such an investment may have a negative impact on a portfolio company in need of such an investment, may result in a missed opportunity for us to increase our participation in a successful operation, may reduce our ability to protect an existing investment or may dilute our equity interest or otherwise reduce the expected yield on the investment.
There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims. Our portfolio companies may have, or may be permitted to incur, other debt that ranks equally with, or senior to, the debt in which we invest. By their terms, such debt instruments may entitle the holders to receive payment of interest or principal on or before the dates on which we are entitled to receive payments with respect to the debt instruments in which we invest. Also, in the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, holders of debt instruments ranking senior to our investment in that portfolio company would typically be entitled to receive payment in full before we receive any distribution. After repaying such senior creditors, such portfolio company may not have any remaining assets to use for repaying its obligation to us. In the case of debt ranking equally with debt instruments in which we invest, we would have to share on an equal basis any distributions with other creditors holding such debt in the event of an insolvency, liquidation, dissolution, reorganization or bankruptcy of the relevant portfolio company. Even if our investment is structured as a senior-secured loan, principles of equitable subordination, as defined by existing case law, could lead a bankruptcy court to subordinate all or a portion of our claim to that of other creditors and transfer any lien securing such subordinated claim to the bankruptcy estate. The principles of equitable subordination have generally indicated that a claim may be subordinated only if its holder is guilty of misconduct or where the senior loan is re-characterized as an equity investment and the senior lender has actually provided significant managerial assistance to the bankrupt debtor. We may also be subject to lender liability claims for actions taken by us with respect to a borrower’s business or instances where we exercise control over the borrower. It is possible that we could become subject to a lender liability claim, including as a result of actions taken in rendering significant managerial assistance or actions to compel and collect payments from the borrower outside the ordinary course of business.
We generally will not control our portfolio companies, which may result in the portfolio company making decisions which could adversely impact the value of our investments in the portfolio company's securities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We generally will not control our portfolio companies, which may result in the portfolio company making decisions which could adversely impact the value of our investments in the portfolio company ’ s securities. In some instances, we may control our portfolio companies or provide our portfolio companies with significant managerial assistance. However, we do not, and do not expect to, control the ultimate decision making in most of our portfolio companies, even though we may have board representation or board observation rights, and our debt agreements may contain certain restrictive covenants. As a result, we are subject to the risk that a portfolio company in which we invest will make business decisions with which we disagree, and the management of such company will take risks or otherwise act in ways that do not serve our interests as debt investors or minority equity holders. Due to the lack of liquidity for our investments in non-traded companies, we may not be able to dispose of our interests in our portfolio companies as readily as we would like or at an appropriate valuation. As a result, a portfolio company may make decisions that would decrease the value of our portfolio holdings.
Defaults by our portfolio companies will harm our operating results [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Defaults by our portfolio companies will harm our operating results. A portfolio company’s failure to satisfy financial or operating covenants imposed by us or other lenders could lead to non-payment of interest and other defaults and, potentially, termination of its loans and foreclosure on its secured assets, which could trigger cross-defaults under other agreements and jeopardize a portfolio company’s ability to meet its obligations under the debt or equity securities that we hold. In addition, in the event of a default by a portfolio company on a secured loan, we will only have recourse to the assets collateralizing the loan, which in some cases excludes the IP on which we have only a negative pledge ( i.e. , an agreement by the portfolio company to not pledge its IP to another lender). In any case, the assets collateralizing our loan may not be sufficient to fully cover our indebtedness. In the event of a default on a loan, there can be no assurance that our security interest will be enforceable in a court of law or bankruptcy court or that there will not be others with senior or pari passu credit interests. We may incur expenses to the extent necessary to seek recovery upon default or to negotiate new terms, which may include the waiver of certain financial covenants, with a defaulting portfolio company.
Substantially all of our portfolio investments are recorded at fair value as determined in accordance with our Valuation Guidelines and, as a result, there may be uncertainty as to the value of our portfolio investments [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Substantially all of our portfolio investments are recorded at fair value as determined in accordance with our valuation guidelines and, as a result, there may be uncertainty as to the value of our portfolio investments. Under the 1940 Act, we are required to carry our investments at market value or, if no market value is ascertainable, at the fair value as determined by our Valuation Committee in accordance with our valuation guidelines adopted pursuant to Rule 2a-5 under the 1940 Act, subject to oversight and approval by our Board. We value our securities for which no market value is ascertainable quarterly at fair value based on inputs from management and/or one or more third-party valuation firm(s) pursuant to our valuation guidelines approved by our Board. As of December 31, 2024, portfolio investments, whose fair value is determined in good faith by our Valuation Committee, subject to oversight and approval by our Board, were approximately 95.5% of our total assets. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material. Our NAV could be adversely affected if determinations regarding the fair value of these investments were materially higher than the values ultimately realized upon the disposal of such investments.
Any unrealized depreciation we experience on investment portfolio may be an indication of future realized losses, which could reduce our income available for distribution and could impair our ability to service our borrowings [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Any unrealized depreciation we experience on our investment portfolio may be an indication of future realized losses, which could reduce our income available for distribution and could impair our ability to service our borrowings.
Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our return on equity [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our return on equity. During the year ended December 31, 2024, we received early principal payments and early payoffs on our debt investments of approximately $922.0 million. We are subject to the risk that the debt investments we make in our portfolio companies may be repaid prior to maturity. When this occurs, we will generally reinvest these proceeds in temporary investments, pending their future investment in new portfolio companies. These temporary investments will typically have substantially lower yields than the debt being prepaid, and we could experience significant delays in reinvesting these amounts. Any future investment in a new portfolio company may also be at lower yields than the debt that was repaid. As a result, our results of operations could be materially adversely affected if one or more of our portfolio companies elect to prepay amounts owed to us. Additionally, prepayments could negatively impact our return on equity, which could result in a decline in the market price of our securities.
We are subject to risks associated with the current interest rate environment and changes in interest rates will affect our cost of capital, net investment income and the value of our investments [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We are subject to risks associated with the interest rate environment and changes in interest rates will affect our cost of capital, net investment income and the value of our investments. To the extent we borrow money or issue debt securities or preferred stock to make investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds or pay interest or dividends on such debt securities or preferred stock and the rate at which we invest these funds. In addition, many of our debt investments and borrowings have floating interest rates that reset on a periodic basis, and many of our investments are subject to interest rate floors and caps. As of December 31, 2024, approximately 97.4% of our debt investments were at floating rates or floating rates with a floor, and 2.6% of our debt investments were at fixed rates. As a result, a change in market interest rates could have a material adverse effect on our net investment income, in particular with respect to increases from current levels to the level of the interest rate caps on certain investments. In periods of rising interest rates, our cost of funds will increase because the interest rates on the amounts borrowed under our Credit Facilities (as defined below) are floating and are not subject to interest rate caps, which could reduce our net investment income to the extent any debt investments have either fixed interest rates, or floating interest rates subject to an interest rate cap below the then current levels, and as a result such interest rates on these debt investments will not increase. In periods of declining interest rates, our interest income and our net investment income could be reduced as the interest income earned on our floating rate debt investments declines and any new fixed rate debt may be issued at lower coupon rates. Some of our portfolio companies have debt investments which bear interest at variable rates and may be negatively affected by changes in market interest rates, which may be impacted by, among other factors, changes in the federal funds rates by the U.S. Federal Reserve. An increase in market interest rates would increase the interest costs and reduce the cash flows of our portfolio companies that have variable rate debt instruments, a situation which could reduce the value of our investments in these portfolio companies. The value of our securities could also be reduced from an increase in market interest rates as rates available to investors could make an investment in our securities less attractive than alternative investments. Conversely, decreases in market interest rates could negatively impact the interest income from our variable rate debt investments. A decrease in market interest rates may also have an adverse impact on our returns by requiring us to accept lower yields on our debt investments and by increasing the risk that our portfolio companies will prepay our debt investments, resulting in the need to redeploy capital at potentially lower rates. See further discussion and analysis at “Item 7A. Quantitative and Qualitative Disclosures about Market Risk.”
Inflation could adversely affect the business, results of operations and financial condition of our portfolio companies [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Inflation could adversely affect the business, results of operations and financial condition of our portfolio companies. Certain of our portfolio companies are in industries that could be impacted by inflation. If such portfolio companies are unable to pass any increases in their costs of operations along to their customers, it could adversely affect their operating results and impact their ability to pay interest or principal on our loans, particularly if interest rates rise in response to inflation. In addition, any projected future decreases in our portfolio companies’ operating results due to inflation could adversely impact the fair value of those investments. Any decreases in the fair value of our investments could result in future realized or unrealized losses and therefore reduce our net increase (decrease) in net assets resulting from operations.
We may not realize gains from our equity or warrant investments [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may not realize gains from our equity or warrant investments. Certain investments that we have made in the past and may make in the future include warrants or other equity securities. Investments in equity securities involve a number of significant risks, including the risk of further dilution as a result of additional issuances, inability to access additional capital and failure to pay current distributions. We may from time to time make non-control, equity investments in portfolio companies. Our goal is ultimately to realize gains upon our disposition of such equity interests. However, the equity interests we receive may not appreciate in value and, in fact, may decline in value. Accordingly, we may not be able to realize gains from our equity interests, and any gains that we do realize on the disposition of any equity interests may not be sufficient to offset any other losses we experience. We also may be unable to realize any value if a portfolio company does not have a liquidity event, such as a sale of the business, recapitalization or public offering, which would allow us to sell the underlying equity interests. We may seek puts or similar rights to give us the right to sell our equity securities back to the portfolio company issuer; however, we may be unable to exercise these put rights for the consideration provided in our investment documents if the issuer is in financial distress. In addition, we anticipate that approximately 50% of our warrants may not realize any exit or generate any returns. Furthermore, because of the financial reporting requirements under U.S. GAAP, of those approximately 50% of warrants that we do not realize any exit, the assigned costs to the initial warrants may lead to realized losses when the warrants either expire or are not exercised.
We may expose ourselves to risks if we engage in hedging transactions [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may expose ourselves to risks when we engage in hedging transactions. When we engage in hedging transactions, we may expose ourselves to risks associated with such transactions. We may utilize instruments such as forward contracts, currency options and interest rate swaps, caps, collars and floors to seek to hedge against fluctuations in the relative values of our portfolio positions from changes in currency exchange rates and market interest rates. Hedging against a decline in the values of our portfolio positions does not eliminate the possibility of fluctuations in the values of such positions or prevent losses if the values of such positions decline. However, such hedging can establish other positions designed to gain from those same developments, thereby offsetting the decline in the value of such portfolio positions. Such hedging transactions may also limit the opportunity for gain if the values of the underlying portfolio positions should increase. It may not be possible to hedge against an exchange rate or interest rate fluctuation that is so generally anticipated that we are not able to enter into a hedging transaction at an acceptable price. Moreover, for a variety of reasons, we may not seek to establish a perfect correlation between such hedging instruments and there can be no assurance that any such hedging arrangements will achieve the desired effect. During the year ended and as of December 31, 2024, we had entered into and held one outstanding foreign currency forward contract. We do not utilize hedge accounting and as such we recognize the value of our derivatives at fair value on the Consolidated Statements of Assets and Liabilities with changes in the net unrealized appreciation (depreciation) on forward currency forward contracts recorded on the Consolidated Statements of Operations.
Our investments in foreign securities or investments denominated in foreign currencies may involve significant risks in addition to the risks inherent in U.S. and U.S.-denominated investments [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our investments in foreign securities or investments denominated in foreign currencies may involve significant risks in addition to the risks inherent in U.S. and U.S.-denominated investments. Our investment strategy contemplates potential investments in securities of foreign companies. Our total investments at fair value in foreign companies were approximately $371.2 million or 10.1% of total investments as of December 31, 2024. Investing in foreign companies may expose us to additional risks not typically associated with investing in securities of U.S. companies. These risks include changes in exchange control regulations, political and social instability, expropriation, imposition of foreign taxes, less liquid markets and less available information than is generally the case in the U.S., higher transaction costs, less government supervision of exchanges, brokers and issuers, less developed bankruptcy laws, difficulty in enforcing contractual obligations, lack of uniform accounting and auditing standards and greater price volatility. Although most of our investments will be U.S. dollar denominated, any investments denominated in a foreign currency will be subject to the risk that the value of a particular currency will change in relation to one or more other currencies. Among the factors that may affect currency values are trade balances, the level of short-term interest rates, differences in relative values of similar assets in different currencies, long-term opportunities for investment and capital appreciation, and political developments.
We will be subject to risks associated with unitranche loans [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We will be subject to risks associated with “last out” positions in unitranche loans. We also provide “unitranche” loans, which are loans with two classes of lenders that combine both senior and mezzanine debt, generally in a first lien position with security interest in all the assets of the portfolio company. The unitranche loans can either be “first out” or “last out”, whereby the “last-out” portion will be subordinated to the “first-out” portion of the unitranche loan in a liquidation, sale or other disposition. When we invest in unitranche loans, we typically invest in the “last-out” portion. Investments in “last out” pieces of tranched first lien loans will be similar to second lien loans in that such investments will be junior in priority to the “first out” piece of the same tranched first lien loan with respect to payment of principal, interest and other amounts. We can offer no assurance that the proceeds, if any, from sales of all of the collateral would be sufficient to satisfy the loan obligations secured by the “last out” pieces of the tranched first lien loans after payment in full of all obligations secured by the first priority liens on the collateral. If such proceeds were not sufficient to repay amounts outstanding under the loan obligations secured by the "last out" pieces of unitranche loans, then we, to the extent not repaid from the proceeds of the sale of the collateral, will only have an unsecured claim against the portfolio company’s remaining assets, if any. A unitranche loan may also, in some cases, have a longer maturity than a senior secured loan and may be provided in a larger size, often by one or two counterparts as opposed to a club or syndicate. Its broader risk parameters and larger size often lead to more bespoke features, and in some cases the lender taking an observer seat on the borrower’s board.
The disposition of our investments may result in contingent liabilities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The disposition of our investments may result in contingent liabilities.
Depending on funding requirements, we may need to raise additional capital to meet our unfunded commitments through additional borrowings [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Depending on funding requirements, we may need to raise additional capital to meet our unfunded commitments through additional borrowings. As of December 31, 2024, we had approximately $448.5 million of available unfunded commitments, including undrawn revolving facilities, which were available at the request of the portfolio company and unencumbered by milestones. Our unfunded contractual commitments may be significant. A portion of these unfunded contractual commitments are dependent upon the portfolio company achieving certain milestones before the debt commitment becomes available. Furthermore, our credit agreements contain customary lending provisions which allow us relief from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. These commitments will be subject to the same underwriting and ongoing portfolio maintenance as are the on-balance sheet financial instruments that we hold. Since these commitments may expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Closed commitments generally fund 50-80% of the committed amount in aggregate over the life of the commitment. We believe that our assets provide adequate cover to satisfy all of our unfunded commitments and we intend to use cash flow from operations and early principal repayments and proceeds from borrowings and notes to fund these commitments. However, there can be no assurance that we will have sufficient capital available to fund these commitments as they come due. Our inability to fund these commitments could have a material adverse effect on our reputation in the market and our ability to generate incremental lending activity and subject us to lender liability claims.
Because we have substantial borrowings, the potential for gain or loss on amounts invested in us is magnified and may increase the risk of investing in us [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Because we have substantial borrowings, the potential for gain or loss on amounts invested in us is magnified and may increase the risk of investing in us. Borrowings, also known as leverage, magnify the potential for loss on investments in our indebtedness and gain or loss on investments in our equity capital. As we use leverage to partially finance our investments, you will experience increased risks of investing in our securities. Accordingly, any event that adversely affects the value of an investment would be magnified to the extent we use leverage. Such events could result in a substantial loss to us, which would be greater than if leverage had not been used. We may also borrow from banks and other lenders and may issue debt securities or enter into other types of borrowing arrangements in the future. Lenders of these senior securities will have fixed dollar claims on our assets that are superior to the claims of our common stockholders, and we would expect such lenders to seek recovery against our assets in the event of a default. We generally may grant security interests in our assets, subject to any restrictions on encumbered assets imposed by the terms of our existing indebtedness. The terms of our existing indebtedness require us to comply with certain financial and operational covenants, and we expect similar covenants in future debt instruments. Failure to comply with such covenants could result in a default under the applicable credit facility or debt instrument if we are unable to obtain a waiver from the applicable lender or holder, and such lender or holder could accelerate repayment under such indebtedness and negatively affect our business, financial condition, results of operations and cash flows. In addition, under the terms of any credit facility or other debt instrument we enter into, in the event of a default, we are likely to be required by its terms to use the net proceeds of any investments that we sell to repay a portion of the amount borrowed under such facility or instrument before applying such net proceeds to any other uses. See “Note 5 – Debt” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financial Condition, Liquidity, Capital Resources and Obligations” for a discussion regarding our outstanding indebtedness. If the value of our assets decreases, leveraging would cause NAV to decline more sharply than it otherwise would have had we not leveraged our business. Similarly, any decrease in our income would cause net investment income to decline more sharply than it would have had we not leveraged our business. Such a decline could negatively affect our ability to pay common stock dividends, scheduled debt payments or other payments related to our securities. Our ability to service our debt depends largely on our financial performance and will be subject to prevailing economic conditions and competitive pressures. Our secured credit facilities with Sumitomo Mitsui Banking Corporation (the “SMBC Facility”) and MUFG Union Bank, N.A., (the “MUFG Bank Facility”) and our letter of credit facility with Sumitomo Mitsui Banking Corporation (the “SMBC LC Facility” and together with the SMBC Facility and MUFG Bank Facility, our “Credit Facilities”), as well as the February 2025 Notes, June 2025 Notes, June 2025 3-Year Notes, March 2026 A Notes, March 2026 B Notes, September 2026 Notes, January 2027 Notes, 2031 Asset-Backed Notes and 2033 Notes (each term as is individually defined under “Note 5 - Debt” and collectively, the “Notes”), each outstanding as of December 31, 2024, contain financial and operating covenants that could restrict our business activities, including our ability to declare dividend distributions if we default under certain provisions. As of December 31, 2024, we had $283.6 million and $116.0 million in borrowings under the SMBC Facility and MUFG Bank Facility, respectively, and approximately $1.10 billion in aggregate principal outstanding Notes. Further we have an additional $175.0 million and $104.0 million SBA debentures outstanding and incurred by our wholly owned subsidiaries, Hercules Capital IV, LP (“HC IV”) and SBIC V, L.P. (“SBIC V”), respectively, as of December 31, 2024. Illustration. The following table illustrates the effect of leverage on returns from an investment in our common stock assuming that we employ (1) our actual asset coverage ratio as of December 31, 2024, and (2) a hypothetical asset coverage ratio of 150% (each excluding our SBA debentures as permitted by our exemptive relief) each at various annual returns on our portfolio as of December 31, 2024, net of expenses. The calculations in the table below are hypothetical, and actual returns may be higher or lower than those appearing in the table below. Annual Return on Our Portfolio (Net of Expenses) -10% -5% 0% 5% 10% Corresponding return to common stockholder assuming our actual asset coverage of 231.7% as of December 31, 2024 (1) (23.77%) (14.14%) (4.51%) 5.12% 14.75% Corresponding return to common stockholder assuming 150% asset coverage (2) (42.32%) (26.52%) (10.72%) 5.08% 20.89% (1) Assumes $3.8 billion in total assets, $1.8 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024. Actual interest payments may be different. (2) Assumes $6.3 billion in total assets including debt issuance costs on a pro forma basis, $4.2 billion in debt outstanding, $2.0 billion in stockholders’ equity, and an average cost of funds of 5.0%, which is the approximate average cost of our Notes and Credit Facilities for the period ended December 31, 2024, along with the hypothetical estimated incremental cost of debt that would be incurred on offering the maximum permissible debt under the 150% asset coverage. Actual interest payments may be different. Our ability to achieve our investment objective may depend in part on our ability to access additional leverage on favorable terms and there can be no assurance that such additional leverage can in fact be achieved. If we are unable to obtain leverage or renew, extend or replace our current leverage facilities, or if the interest rates of such leverage are not attractive, we could experience diminished returns. The number of leverage providers and the total amount of financing available could decrease or remain static.
Certain of our assets are subject to security interests under our senior securities and if we default on our obligations under our senior securities, we may suffer adverse consequences, including foreclosure on those assets [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Certain of our assets are subject to security interests under our senior securities and if we default on our obligations under our senior securities, we may suffer adverse consequences, including foreclosure on those assets. Certain of our assets are currently pledged as collateral under our senior securities, including our outstanding Credit Facilities and certain Notes. If we default on our obligations under our senior securities, our lenders may have the right to foreclose upon and sell, or otherwise transfer, the collateral subject to their security interests or their superior claim. In such event, we may be forced to sell our investments to raise funds to repay our outstanding borrowings in order to avoid foreclosure and these forced sales may be at times and at prices we would not consider advantageous. Moreover, such deleveraging of our company could significantly impair our ability to effectively operate our business in the manner in which we have historically operated. As a result, we could be forced to curtail or cease new investment activities and lower or eliminate the dividends that we have historically paid to our stockholders. In addition, if the lenders exercise their right to sell the assets pledged under our senior securities, such sales may be completed at distressed sale prices, thereby diminishing or potentially eliminating the amount of cash available to us after repayment of the amounts outstanding under the senior securities. If our operating performance declines and we are not able to generate sufficient cash flow to service our debt obligations, we may in the future need to refinance or restructure our debt, sell assets, reduce or delay capital investments, seek to raise additional capital or seek to obtain waivers from the required lenders under our senior securities to avoid being in default. If we are unable to implement one or more of these alternatives, we may not be able to meet our payment obligations under our senior securities. If we breach our covenants under our senior securities and seek a waiver, we may not be able to obtain a waiver from the required lenders or debt holders. If this occurs, we would be in default under our senior securities, the lenders or debt holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders having secured obligations could proceed against the collateral securing the debt. Because certain of our senior securities have customary cross-default and cross-acceleration provisions, if the indebtedness under our senior securities is accelerated, we may be unable to repay or finance the amounts due.
We may invest in derivatives or other assets that expose us to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may invest in derivatives or other assets that expose us to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage. We may invest in derivatives and other assets that are subject to many of the same types of risks related to the use of leverage. Derivative transactions, if any, will generally create leverage for us and involve significant risks. The primary risks related to derivative transactions include counterparty, correlation, liquidity, leverage, volatility, over-the-counter trading, operational and legal risks. In addition, a small investment in derivatives could have a large potential impact on our performance, effecting a form of investment leverage on our portfolio. In certain types of derivative transactions, we could lose the entire amount of our investment; in other types of derivative transactions the potential loss is theoretically unlimited. Rule 18f-4 under the 1940 Act (“Rule 18f-4”) requires a BDC that uses derivatives to comply with certain value-at-risk leverage limits, a derivatives risk management program and board oversight and reporting requirements. However, Rule 18f-4 exempts BDCs that qualify as “limited derivatives users” from the aforementioned requirements, provided that these BDCs adopt written policies and procedures that are reasonably designed to manage the BDC’s derivatives risks and comply with certain recordkeeping requirements. We intend to operate under the limited derivatives user exemption of Rule 18f-4 and have adopted written policies and procedures reasonably designed to manage our derivatives risk pursuant to Rule 18f-4. Rule 18f-4 also permits us to enter into reverse repurchase agreements or similar financing transactions notwithstanding the senior security provision of the 1940 Act if we aggregate the amount of indebtedness associated with our reverse repurchase agreements or similar financing transactions with the aggregate amount of any other senior securities representing indebtedness when calculating the asset coverage ratios as discussed herein. In addition, under the “delayed-settlement securities” provision of Rule 18f-4, we are permitted to invest in a security on a when-issued or forward-settling basis, or with a non-standard settlement cycle, and the transaction will be deemed not to involve a senior security under the 1940 Act, provided that (i) we intend to physically settle the transaction and (ii) the transaction will settle within 35 days of its trade date. We may otherwise engage in such transaction as a “derivatives transaction” for purposes of compliance with the rule. Furthermore, we are permitted to enter into an unfunded commitment agreement, and such unfunded commitment agreement will not be subject to the asset coverage requirements under the 1940 Act if we reasonably believe, at the time we enter into such agreement, that we will have sufficient cash and cash equivalents to meet our obligations with respect to all such agreements as they come due. We cannot predict the effects of these requirements.
Our executive officers and employees, through the Adviser Subsidiary, are expected to manage the Adviser Funds [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our executive officers and employees, through the Adviser Subsidiary, are expected to manage the Adviser Funds, which includes funds from External Parties, that operate in the same or a related line of business as we do, which may result in significant conflicts of interest. Our executive officers and employees, through the Adviser Subsidiary, are expected to manage the Adviser Funds that operate in the same or a related line of business as we do, and which funds may be invested in by us and/or our executive officers and employees. Accordingly, they may have obligations to such other entities, the fulfillment of which obligations may not be in the interests of us or our stockholders. Our relationship with the Adviser Subsidiary may require us to commit resources to achieving the Adviser Funds or External Parties’ investment objectives, while such resources were previously solely devoted to achieving our investment objective. Our investment objective and investment strategies may be very similar to those of the Adviser Funds and External Parties, and it is likely that an investment appropriate for us, the Adviser Funds, or External Parties would be appropriate for the other entity. We and the Adviser Subsidiary have established policies and procedures governing the allocation investment opportunities between us, the Adviser Funds, and External Parties. We may be limited in or unable to participate in certain investments based upon such allocation policy. Although we will endeavor to allocate investment opportunities in a fair and equitable manner, we may face conflicts in allocating investment opportunities between us, the Adviser Funds and External Parties managed by the Adviser Subsidiary.
Investments in the Adviser Funds managed by our Adviser Subsidiary may create conflicts of interests [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										In addition, we may make investments in the Adviser Funds in the form of loans. For example, prior to the receipt by the Adviser Funds of capital contributions from investors for which a capital call notice has or will be given, we expect to provide loan financing to such Adviser Funds to fund such amounts on a temporary basis in order to permit the Adviser Funds to invest in a target portfolio company within the applicable time constraints prior to the receipt by the Adviser Funds of a capital call in respect of such investment. In addition, we may provide loan financing to the Adviser Funds to cover start-up and initial operating costs prior to the receipt by the Adviser Funds of a capital call in respect of such expenses. The provision of debt financing to the Adviser Funds may cause conflicts of interest, including in situations where our interest as a lender to the Adviser Funds conflicts with the interest of holders of third-party equity interests.
We, through the Adviser Subsidiary, derive revenues from managing third-party funds pursuant to management agreements that may be terminated, which could negatively impact our operating results. [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We, through the Adviser Subsidiary, derive revenues from managing third-party funds pursuant to management agreements that may be terminated, which could negatively impact our operating results.
Failure to comply with applicable laws or regulations and changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Failure to comply with applicable laws or regulations and changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy. We, the Adviser Funds and our portfolio companies are subject to applicable local, state and federal laws and regulations, including those promulgated by the SEC, the NYSE, and the Public Company Accounting Oversight Board (United States). Failure to comply with any applicable local, state or federal law or regulation could negatively impact our reputation and our business results. New legislation may also be enacted or new interpretations, rulings or regulations could be adopted, including those governing the types of investments we are permitted to make, any of which could harm us and our stockholders, potentially with retroactive effect. Additionally, any changes to the laws and regulations governing our operations relating to permitted investments may cause us to alter our investment strategy in order to avail ourselves of new or different opportunities. Such changes could result in material differences to the strategies and plans set forth herein and may result in our investment focus shifting from the areas of expertise of our investment team to other types of investments in which our investment team may have less expertise or little or no experience. Thus, any such changes, if they occur, could have a material adverse effect on our results of operations and the value of your investment.
Failure to maintain our status as a BDC would reduce our operating flexibility [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Failure to maintain our status as a BDC would reduce our operating flexibility. If we do not remain a BDC, we might be regulated as a closed-end investment company under the 1940 Act, which would subject us to substantially more regulatory restrictions under the 1940 Act and correspondingly decrease our operating flexibility.
Operating under the constraints imposed on us as a BDC and RIC may hinder the achievement of our investment objectives [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Operating under the constraints imposed on us as a BDC and RIC may hinder the achievement of our investment objectives. The 1940 Act and the Code impose numerous constraints on the operations of BDCs and RICs that do not apply to certain of the other investment vehicles that we may compete with. BDCs are required, for example, to invest at least 70% of their total assets in certain qualifying assets, including U.S. private or smaller U.S. public companies, cash, cash equivalents, U.S. government securities and other high-quality debt instruments that mature in one year or less from the date of investment. See “Item 1. Business – Regulation.” Moreover, qualification for taxation as a RIC requires satisfaction of both the Income Test and Asset Test, as well as complying with the Distribution Requirements as set forth in the Code.
Regulations governing our operation as a BDC will affect our ability to, and the way in which we, raise additional capital [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Regulations governing our operation as a BDC will affect our ability to, and the way in which we, raise additional capital. Our business will require capital to operate and grow. In addition to funding new and existing investments, we may pursue growth through acquisitions or strategic investments in new businesses. Completion and timing of any such acquisitions or strategic investments may be subject to a number of contingencies and risks. There can be no assurance that the integration of an acquired business will be successful or that an acquired business will prove to be profitable or sustainable. We may acquire additional capital from the following sources: Senior Securities . We may issue debt securities or preferred stock and/or borrow money from banks or other financial institutions, which we refer to collectively as senior securities. As a result of issuing senior securities, we will be exposed to additional risks, including the following: • Under the provisions of the 1940 Act, we are permitted, as a BDC, to issue senior securities only in amounts such that our asset coverage, as defined in the 1940 Act, equals at least 150% immediately after each issuance of senior securities. If the value of our assets declines, we may be unable to satisfy this test. If that happens, we will be prohibited from issuing debt securities or preferred stock and/or borrowing money from banks or other financial institutions and may not be permitted to declare a dividend or make any distribution to stockholders or repurchase shares until such time as we satisfy this test. • Any amounts that we use to service our debt or make payments on preferred stock will not be available for dividends to our common stockholders. • It is likely that any senior securities or other indebtedness we issue will be governed by an indenture or other instrument containing covenants restricting our operating flexibility. Additionally, some of these securities or other indebtedness may be rated by rating agencies, and in obtaining a rating for such securities and other indebtedness, we may be required to abide by operating and investment guidelines that further restrict operating and financial flexibility. • We and, indirectly, our stockholders will bear the cost of issuing and servicing such securities and other indebtedness. • Preferred stock or any convertible or exchangeable securities that we issue in the future may have rights, preferences and privileges more favorable than those of our common stock, including separate voting rights and could delay or prevent a transaction or a change in control to the detriment of the holders of our common stock. • Any unsecured debt issued by us would generally rank (i) pari passu with our current and future unsecured indebtedness and effectively subordinated to all of our existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness, and (ii) structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries. Additional Common Stock . We are not generally able to issue and sell our common stock at a price below NAV per share. We may, however, sell our common stock or warrants, options or rights to acquire our common stock at a price below the current NAV per share of the common stock in accordance with the requirements of Section 63(2) of the 1940 Act if our Board determines that such sale is in the best interests of our stockholders, and if our stockholders approve such sale. Our stockholders have authorized us to issue common stock at a price below the then-current NAV per share, subject to certain conditions including Board approval, for a twelve-month period expiring on August 15, 2025. See “Risk Factors – Risks Related to our Securities — Stockholders may incur dilution if we sell shares of our common stock in one or more offerings at prices below the then current NAV per share of our common stock or issue securities to subscribe to, convert to or purchase shares of our common stock” for a discussion of the risks related to us issuing shares of our common stock below NAV per share. We may also make rights offerings to our stockholders at prices per share less than the NAV per share, without stockholder approval but subject to certain other applicable regulatory requirements. Our stockholders have also authorized us to issue debt with warrants or debt convertible into shares of common stock at an exercise or conversion price that, at the time such warrants or convertible debt are issued, will not be less than the market value per share but may be below our then current NAV per share, in accordance with the requirements of Section 61(a)(4) of the 1940 Act. There is no expiration date on our ability to issue such warrants or convertible debt securities based on this stockholder approval. If we raise additional funds by issuing more common stock or senior securities convertible into, or exchangeable for, our common stock, the percentage ownership of our stockholders at that time would decrease, and they may experience dilution. Moreover, we can offer no assurance that we will be able to issue and sell additional equity securities in the future, on favorable terms or at all.
Investing in our securities may involve a high degree of risk [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Investing in our securities may involve a high degree of risk. The investments we make in accordance with our investment objective may be highly speculative and result in a higher amount of risk than alternative investment options and a higher risk of volatility or loss of principal. As a result, an investment in our securities may not be suitable for someone with lower risk tolerance.
Shares of closed-end investment companies, including BDCs, may trade at a discount to their NAV [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Shares of closed-end investment companies, including BDCs, may trade at a discount to their NAV. Shares of closed-end investment companies, including BDCs, may trade at a discount to their NAV. This characteristic of closed-end investment companies and BDCs is separate and distinct from the risk that our NAV per share may decline. We cannot predict whether our common stock will trade at, above or below NAV. In addition, if our common stock trades below our NAV per share, we will generally not be able to issue additional common stock at the market price unless our stockholders approve such a sale and our Board makes certain determinations. While our stockholders have authorized us to issue common stock at a price below the then-current NAV per share, subject to certain conditions including Board approval, for a twelve-month period expiring on August 15, 2025, we cannot predict whether we will make any such sales. See “Risk Factors — Risks Related to our Securities — Stockholders may incur dilution if we sell shares of our common stock in one or more offerings at prices below the then current NAV per share of our common stock or issue securities to subscribe to, convert to or purchase shares of our common stock” for a discussion related to us issuing shares of our common stock below NAV.
The market price of our securities may be volatile and fluctuate significantly [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The market price of our securities may be volatile and fluctuate significantly. Fluctuations in the trading prices of our securities may adversely affect the liquidity of the trading market for our securities and, if we seek to raise capital through future securities offerings, our ability to raise such capital. The market price and liquidity of the market for our securities may be significantly affected by numerous factors, some of which are beyond our control and may not be directly related to our operating performance. These factors include: • significant volatility in the market price and trading volume of securities of BDCs or other companies in our sector, which are not necessarily related to the operating performance of these companies; • changes in regulatory policies, accounting pronouncements or tax guidelines; • the exclusion of BDC common stock from certain market indices, such as what happened with respect to the Russell indices and the Standard and Poor’s indices, could reduce the ability of certain investment funds to own our common stock and limit the number of owners of our common stock and otherwise negatively impact the market price of our common stock; • inability to obtain any exemptive relief that may be required by us in the future from the SEC; • loss of our BDC or RIC status or our wholly owned subsidiaries' statuses as SBICs; • changes in our earnings or variations in our operating results; • changes in the value of our portfolio of investments; • any shortfall in our investment income or net investment income or any increase in losses from levels expected by investors or securities analysts; • loss of a major funding source; • fluctuations in interest rates; • the operating performance of companies comparable to us; • departure of our key personnel; • proposed, or completed, offerings of our securities, including classes other than our common stock; • global or national credit market changes; and • general economic trends and other external factors.
We may not be able to pay distributions to our stockholders, our distributions may not grow over time, and a portion of distributions paid to our stockholders may be a return of capital [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may not be able to pay distributions to our stockholders, our distributions may not grow over time, and a portion of distributions paid to our stockholders may be a return of capital, which is a distribution of the stockholders’ invested capital. We intend to pay distributions to our stockholders out of assets legally available for distribution. We cannot assure you that we will achieve investment results that will allow us to pay a specified level of cash distributions, previously projected distributions for future periods, or year-to-year increases in cash distributions. Our ability to pay distributions might be adversely affected by, among other things, the impact of one or more of the risk factors described herein. In addition, the inability to satisfy the asset coverage test applicable to us as a BDC could limit our ability to pay distributions. All distributions will be paid at the discretion of our Board and will depend on our earnings, our financial condition, maintenance of our RIC status, compliance with applicable BDC regulations, compliance with our debt covenants and such other factors as our Board may deem relevant from time to time. We cannot assure you that we will pay distributions to our stockholders in the future.
Stockholders may incur dilution if we sell shares of common stock in one or more offerings at prices below then current NAV per share of common stock or issue securities to subscribe to, convert to or purchase shares of our common stock [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Stockholders may incur dilution if we sell shares of our common stock in one or more offerings at prices below the then current NAV per share of our common stock or issue securities to subscribe to, convert to or purchase shares of our common stock. The 1940 Act prohibits us from selling shares of our common stock at a price below the current NAV per share of such stock, with certain exceptions. One such exception is prior stockholder approval of issuances below NAV provided that our Board makes certain determinations. In connection with our 2024 Annual Meeting, we obtained authorization from our stockholders to issue common stock below our NAV per share, subject to certain conditions including Board approval, for a twelve-month period expiring on August 15, 2025. We may also seek such authorization at future annual or special meetings of stockholders. Our stockholders have previously approved a proposal to authorize us to issue securities to subscribe to, convert to, or purchase shares of our common stock in one or more offerings. Even though we have obtained authorization from our stockholders to issue common stock at a price below our NAV, we cannot predict whether we will make any such sales. Any decision to sell shares of our common stock below NAV per share of our common stock or securities to subscribe to, convert to, or purchase shares of our common stock would be subject to the determination by our Board that such issuance is in our and our stockholders’ best interests. If we were to sell shares of our common stock below NAV per share, such sales would result in an immediate dilution to the NAV per share. This dilution would occur as a result of the sale of shares at a price below the then current NAV per share of our common stock and a proportionately greater decrease in a stockholder’s interest in our earnings and assets and voting interest in us than the increase in our assets resulting from such issuance. In addition, if we issue securities to subscribe to, convert to or purchase shares of common stock, the exercise or conversion of such securities would increase the number of outstanding shares of our common stock. Any such exercise would be dilutive on the voting power of existing stockholders and could be dilutive with regard to dividends and our NAV, and other economic aspects of the common stock. Because the number of shares of common stock that could be so issued and the timing of any issuance is not currently known, the actual dilutive effect cannot be predicted; however, the example below illustrates the effect of dilution to existing stockholders resulting from the sale of common stock at prices below the NAV of such shares. Illustration: Example of Dilutive Effect of the Issuance of Shares Below NAV . Assume that Company XYZ has 1,000,000 total shares outstanding, $15,000,000 in total assets and $5,000,000 in total liabilities. The NAV per share of the common stock of Company XYZ is $10.00. The following table illustrates the reduction to NAV, or NAV, and the dilution experienced by Stockholder A following the sale of 40,000 shares of the common stock of Company XYZ at $9.50 per share, a price below its NAV per share. Prior to Sale Below NAV Following Sale Below NAV Percentage Change Reduction to NAV Total Shares Outstanding 1,000,000 1,040,000 4.0 % NAV per share $ 10.00 $ 9.98 (0.2) % Dilution to Existing Stockholder Shares Held by Stockholder A 10,000 10,000 (1) 0.0 % Percentage Held by Stockholder A 1.00 % 0.96 % (4.0) % Total Interest of Stockholder A in NAV $ 100,000 $ 99,808 (0.2) % (1) Assumes that Stockholder A does not purchase additional shares in the sale of shares below NAV. In addition, all distributions in cash payable to stockholders who participate in our dividend reinvestment plan are automatically reinvested in shares of our common stock. As a result, stockholders who opt out of our dividend reinvestment plan will experience dilution of their ownership percentage of our common stock over time.
Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock. The Maryland General Corporation Law and our charter and bylaws contain provisions that may have the effect of discouraging, delaying, or making difficult a change in control of our company or the removal of our incumbent directors. For example, our governing documents provide for a staggered board and authorize the issuance of “blank check” preferred stock. The existence of these provisions, among others, may have a negative impact on the price of our common stock and may discourage third party bids for ownership of our company. These provisions may prevent any premiums being offered to you for our common stock.
We may in the future determine to issue preferred stock, which could adversely affect the market value of our common stock [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may in the future determine to issue preferred stock, which could adversely affect the market value of our common stock. The issuance of shares of preferred stock with dividend or conversion rights, liquidation preferences or other economic terms favorable to the holders of preferred stock could adversely affect the market price for our common stock by making an investment in the common stock less attractive. In addition, the dividends on any preferred stock we issue must be cumulative. Payment of dividends and repayment of the liquidation preference of preferred stock must take preference over any dividends or other payments to our common stockholders, and holders of preferred stock are not subject to any of our expenses or losses and are not entitled to participate in any income or appreciation in excess of their stated preference (other than convertible preferred stock that converts into common stock). In addition, under the 1940 Act, preferred stock constitutes a “senior security” for purposes of the asset coverage test.
Except for the 2031 Asset-Backed Notes, the Notes are unsecured and therefore effectively subordinated to any current or future secured indebtedness. [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Except for the 2031 Asset-Backed Notes, the Notes are unsecured and therefore effectively subordinated to any current or future secured indebtedness. The Notes, except for the 2031 Asset-Backed Notes (with such exception, the “Unsecured Notes”), are not secured by any of our assets or any of the assets of our subsidiaries and rank equally in right of payment with all of our existing and future unsubordinated, unsecured indebtedness. As a result, the Unsecured Notes are effectively subordinated to any secured indebtedness we or our subsidiaries have currently incurred and may incur in the future (or any indebtedness that is initially unsecured to which we subsequently grant security) to the extent of the value of the assets securing such indebtedness. In any liquidation, dissolution, bankruptcy or other similar proceeding, the holders of any of our existing or future secured indebtedness and the secured indebtedness of our subsidiaries may assert rights against the assets pledged to secure that indebtedness in order to receive full payment of their indebtedness before the assets may be used to pay other creditors, including the holders of the Unsecured Notes.
The Notes Are Structurally Subordinated To The Indebtedness And Other Liabilities Of Our Subsidiaries [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The Unsecured Notes are structurally subordinated to the indebtedness and other liabilities of our subsidiaries. The Unsecured Notes are obligations exclusively of Hercules Capital, Inc. and not of any of our subsidiaries (which includes, for purposes of this risk factor only, our affiliated securitization trust). None of our subsidiaries are or act as guarantors of the Unsecured Notes. Furthermore, the Unsecured Notes are not required to be guaranteed by any subsidiaries we may acquire or create in the future. Our secured indebtedness with respect to the SBA debentures is held through one of our SBIC subsidiaries. Our secured indebtedness with respect to the 2031 Asset-Backed Notes is held through our affiliated securitization trust. The assets of our subsidiaries are not directly available to satisfy the claims of our creditors, including holders of the Unsecured Notes. Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including holders of preferred stock, if any, of our subsidiaries) will have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the Unsecured Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims would still be subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. As a result of not having a direct claim against any of our subsidiaries, the Unsecured Notes are structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiaries and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise. In addition, our subsidiaries may incur substantial additional indebtedness in the future, all of which would be structurally senior to the Unsecured Notes.
There is no active public trading market for the Notes ; as a result, a holder may not be able to resell any of such notes. [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										There is no active public trading market for the June 2025 Notes, June 2025 3-Year Notes, March 2026 A Notes, March 2026 B Notes, September 2026 Notes, January 2027 Notes, or 2031 Asset-Backed Notes. As a result, a holder may not be able to resell any of such notes. There currently is no active public trading market for the June 2025 Notes, June 2025 3-Year Notes, March 2026 A Notes, March 2026 B Notes, September 2026 Notes, January 2027 Notes, or 2031 Asset-Backed Notes. We do not currently intend to apply for listing of any such notes on any securities exchange or for quotation of any such notes on any automated dealer quotation system. If no active trading market develops, a holder may not be able to resell any at their fair market value or at all. If any of such notes are traded after their initial issuance, they may trade at a discount from their initial offering price depending on prevailing interest rates, the market for similar securities, our credit ratings, general economic conditions, our financial condition, performance and prospects and other factors. If a market is made for any of such notes, any such market-making may be discontinued at any time. In addition, any market-making activity, if any, will be subject to limits imposed by law. Accordingly, we can provide no assurance that a liquid trading market, if any, will develop for such notes, that a holder will be able to sell any of such notes at a particular time, or that the price a holder may receive when it sells any of such notes will be favorable. To the extent an active trading market does not develop, the liquidity and trading price for such notes may be harmed. Accordingly, a holder may be required to bear the financial risk of an investment in such notes for an indefinite period of time. The 2033 Notes are listed on the NYSE under the symbol “HCXY.” We cannot provide any assurances that an active trading market will be maintained for 2033 Notes, that a holder will be able to sell its 2033 Notes, or that the price a holder may receive when it sells its 2033 Notes will be favorable. The 2033 Notes may trade at a discount from their initial offering price depending on prevailing interest rates, the market for similar securities, our credit ratings, general economic conditions, our financial condition, performance and prospects and other factors. The underwriters of the public offering of the 2033 Notes have advised us that they intend to make a market in the 2033 Notes, but they are not obligated to do so. Such underwriters may discontinue any market-making in the 2033 Notes at any time at their sole discretion.
A Downgrade, Suspension, Or Withdrawal Of The Credit Rating Assigned By A Rating Agency To Us Or Our Debt Securities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										A downgrade, suspension, or withdrawal of the credit rating assigned by a rating agency to us or our debt securities, if any, or change in the debt markets could cause the liquidity or market value of our debt securities to decline significantly. Our credit ratings are an assessment by rating agencies of our ability to pay our debts when due. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of our outstanding debt and equity securities and our ability to raise capital. These credit ratings may not reflect the potential impact of risks relating to the structure or marketing of such debt and equity securities. Credit ratings are not a recommendation to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. There can be no assurance that a credit rating will remain for any given period of time or that such credit ratings will not be lowered or withdrawn entirely if future circumstances relating to the basis of the credit rating, such as adverse changes in our company, so warrant. An increase in the competitive environment, inability to cover distributions, or increase in leverage could lead to a downgrade in our credit ratings and limit our access to the debt and equity markets capability impairing our ability to grow the business. The conditions of the financial markets and prevailing interest rates have fluctuated in the past and are likely to fluctuate in the future.
The indentures under which the 2033 Notes, September 2026 Notes and January 2027 Notes were issued contain limited protections for the holders of such notes [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The indentures under which the 2033 Notes, September 2026 Notes and January 2027 Notes were issued contain limited protections for the holders of such notes. The indentures under which the 2033 Notes, September 2026 Notes and January 2027 Notes were issued offers limited protections to the holders of such notes. The terms of the respective 2033 Notes, September 2026 Notes and January 2027 Notes indentures do not restrict our or any of our subsidiaries’ ability to engage in, or otherwise be a party to, a variety of corporate transactions, circumstances or events that could have an adverse impact on an investment in such notes. In particular, the terms of the respective 2033 Notes, September 2026 Notes and January 2027 Notes indentures do not place any restrictions on our or our subsidiaries’ ability to: • issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to such notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to such notes to the extent of the values of the assets securing such debt, (3) indebtedness of ours that is guaranteed by one or more of our subsidiaries and which therefore would rank structurally senior to such notes and (4) securities, indebtedness or other obligations issued or incurred by our subsidiaries that would be senior in right of payment to our equity interests in our subsidiaries and therefore would rank structurally senior in right of payment to such notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) as modified by Section 61(a)(1) of the 1940 Act or any successor provisions, whether or not we continue to be subject to such provisions of the 1940 Act, but giving effect to any exemptive relief granted to us by the SEC (currently, these provisions generally prohibit us from making additional borrowings, including through the issuance of additional debt or the sale of additional debt securities, unless our asset coverage, as defined in the 1940 Act, equals at least 150% thereafter after such borrowings); • pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to such notes, including subordinated indebtedness; • sell assets (other than certain limited restrictions on our ability to consolidate, merge or sell all or substantially all of our assets); • enter into transactions with affiliates; • create liens (including liens on the shares of our subsidiaries) or enter into sale and leaseback transactions; • make investments; or • create restrictions on the payment of distributions or other amounts to us from our subsidiaries. Furthermore, the terms of the respective 2033 Notes, September 2026 Notes and January 2027 Notes indentures do not protect their respective holders in the event that we experience changes (including significant adverse changes) in our financial condition, results of operations or credit ratings, as they do not require that we or our subsidiaries adhere to any financial tests or ratios or specified levels of net worth, revenues, income, cash flow or liquidity. Our ability to recapitalize, incur additional debt and take a number of other actions that are not limited by the terms of the 2033 Notes, September 2026 Notes and January 2027 Notes may have important consequences for their holders, including making it more difficult for us to satisfy our obligations with respect to the 2033 Notes, September 2026 Notes and January 2027 Notes or negatively affecting their trading value. Certain of our debt instruments include more protections for their respective lenders than the 2033 Notes, September 2026 Notes and January 2027 Notes, and we may issue or incur additional debt in the future which could contain more protections for its holders, including additional covenants and events of default. The issuance or incurrence of any such debt with incremental protections could affect the market for and trading levels and prices of such notes.
Terms Relating To Redemption May Materially Adversely Affect Your Return On Any Debt Securities That We May Issue [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Terms relating to redemption may materially adversely affect the return on any debt securities that we may issue. With respect to debt securities issued by us that are redeemable at our option, we may choose to redeem such debt securities at times when prevailing interest rates are lower than the interest rate paid on such debt securities. In addition, with respect to debt securities issued by us that are subject to mandatory redemption, we may be required to redeem such debt securities at times when prevailing interest rates are lower than the interest rate paid on such debt securities. In these circumstances, such noteholders may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as those debt securities being redeemed. We may redeem our Notes at a redemption price set forth under the terms of the agreements governing the Notes. See “Note 5 – Debt.” If we choose to redeem our Notes when the fair market value is above par value, such noteholders would experience a loss of any potential premium.
If We Default On Our Obligations Imposed Upon Us By Our Indebtedness, We May Not Be Able To Make Payments On Our Outstanding Notes And Credit Facilities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										If we default on our obligations imposed upon us by our indebtedness, we may not be able to make payments on our outstanding Notes and Credit Facilities. The agreements governing our indebtedness, including our Notes and Credit Facilities, require us to comply with certain financial, operational and payment covenants. These covenants require us to, among other things, maintain certain financial ratios, including asset coverage, debt to equity and interest coverage. Our ability to continue to comply with these covenants in the future depends on many factors, some of which are beyond our control. Any default under such agreements, or other indebtedness to which we may be a party, that is not waived by the required lenders or holders, and the remedies sought by the holders of such indebtedness, could make us unable to pay principal, premium, if any, and interest on any of our indebtedness, including our Notes and Credit Facilities, or other indebtedness and substantially decrease the market value of our outstanding Notes and Credit Facilities debt. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, (i) the holders of such indebtedness could elect to declare all the funds borrowed thereunder to be due and payable, together with accrued and unpaid interest, (ii) the lenders under our Credit Facilities or other debt we may incur in the future could elect to terminate their commitments, cease making further loans and institute foreclosure proceedings against our assets, and (iii) we could be forced into bankruptcy or liquidation. If our operating performance declines, we may in the future need to seek to obtain waivers from the required lenders under our Credit Facilities or the required holders of our outstanding Notes or other debt that we may incur in the future to avoid being in default. If we breach our debt covenants and seek a waiver, we may not be able to obtain a waiver from the required lenders or holders. If this occurs, we would be in default under the related Credit Facility or Notes and the lenders or holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders having secured obligations, including the lenders under our Credit Facilities, could proceed against the collateral securing the debt. Because our Credit Facilities have, and any future credit facilities will likely have, customary cross-default and cross-acceleration provisions, if our outstanding Notes are accelerated, we may be unable to repay or finance the amounts due.
We May Not Be Able To Prepay The Notes Or Credit Facilities Upon A Change In Control [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may not be able to prepay the Notes upon a change in control. The agreements governing the June 2025 Notes, June 2025 3-Year Notes, March 2026 A Notes, March 2026 B Notes, September 2026 Notes and January 2027 Notes require us to offer to prepay all of the issued and outstanding notes upon a change in control and election by the holders, which could have a material adverse effect on our business, financial condition and results of operations. A change in control under the indentures or note purchase agreements, as applicable, occurs upon the consummation of a transaction which results in a “person” or “group” (as those terms are used in the Exchange Act and the rules promulgated thereunder) becoming the beneficial owner of more than 50% of our outstanding voting stock. Upon a change in control event, holders of the notes may require us to prepay for cash some or all of the notes at a prepayment price equal to 100% of the aggregate principal amount of the notes being prepaid, plus accrued and unpaid interest to, but not including, the date of prepayment. If a change in control were to occur, we may not have sufficient funds to prepay any such accelerated indebtedness. The terms of the 2033 Notes and 2031 Asset-Backed Notes do not require us to purchase the 2033 Notes or 2031 Asset-Backed Notes, respectively, in connection with a change of control or any other event. Our Credit Facilities do not require us to repay the Credit Facilities in connection with a change of control, however, certain merger or consolidation transactions may trigger an event of default under the Credit Facilities, which may result in amounts outstanding under the Credit Facilities to be accelerated.
Any Inability To Renew, Extend Or Replace Our Credit Facilities Could Adversely Impact Our Liquidity And Ability To Find New Investments Or Maintain Distributions To Our Stockholders [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Any inability to renew, extend or replace our Credit Facilities could adversely impact our liquidity and ability to fund new investments or maintain distributions to our stockholders. The MUFG Bank Facility matures in January 2026, plus a twelve month amortization period, and the SMBC Facility matures in November 2028, plus a twelve month amortization period. In addition, the SMBC LC Facility has a final maturity date ending February 2028. There can be no assurance that we will be able to renew, extend or replace our Credit Facilities upon maturity on terms that are favorable to us, if at all. Our ability to renew, extend or replace the Credit Facilities will be constrained by then-current economic conditions affecting the credit markets. In the event that we are not able to renew, extend or replace our Credit Facilities at the time of their respective maturities, this could have a material adverse effect on our liquidity and ability to fund new investments, our ability to make distributions to our stockholders and our ability to qualify as a RIC.
We, Through Our Wholly Owned Subsidiary, Issue Debt Securities Guaranteed By The SBA And Sold In The Capital Markets [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We, through our wholly owned subsidiaries, issue debt securities guaranteed by the SBA and sold in the capital markets. As a result of its guarantee of the debt securities, the SBA has fixed dollar claims on the assets of our subsidiaries that are superior to the claims of our securities holders. Our wholly owned subsidiaries HC IV and SBIC V, have $175.0 million and $104.0 million of SBIC debentures outstanding, respectively. HC IV has no, and SBIC V has $71.0 million of, additional debentures available, respectively. SBIC debentures are guaranteed by the SBA, have a maturity of ten years from the date of issuance (maturing in 2031, 2032 and 2035) and require semiannual payments of interest. We will need to generate sufficient cash flow to make required interest payments on the debentures. If we are unable to meet the financial obligations under the debentures, the SBA, as a creditor, will have a superior claim to the assets of our SBICs over our securities holders in the event we liquidate or the SBA exercises its remedies under such debentures as the result of a default by us. See “Item 1. Business — Regulation—Small Business Administration Regulations.”
Our Wholly Owned Subsidiary Is Licensed By The SBA, And Therefore Subject To SBIC Regulations [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										ur wholly owned subsidiaries are licensed by the SBA, and therefore subject to SBIC regulations. HC IV and SBIC V are licensed as SBICs and are regulated by the SBA. The SBA places certain limitations on the financing terms of investments by SBICs in portfolio companies and prohibits SBICs from providing funds for certain purposes or to businesses in a few prohibited industries. Compliance with SBA requirements may cause HC IV or SBIC V to forego attractive investment opportunities that are not permitted under SBIC regulations. Further, the SBIC regulations require, among other things, that a licensed SBIC be periodically examined by the SBA and audited by an independent auditor, in each case to determine the SBIC’s compliance with the relevant SBIC regulations. The SBA prohibits, without prior SBA approval, a “change of control” of an SBIC or transfers that would result in any person (or a group of persons acting in concert) owning 10% or more of a class of capital stock of a licensed SBIC. If either HC IV or SBIC V fails to comply with applicable SBIC regulations, the SBA could, depending on the severity of the violation, limit or prohibit HC IV's or SBIC V's issuance of SBIC debentures, declare outstanding SBIC debentures immediately due and payable, and/or limit HC IV or SBIC V from making new investments. In addition, the SBA can revoke or suspend a license for willful or repeated violation of, or willful or repeated failure to observe, any provision of the Small Business Investment Act of 1958 or any rule or regulation promulgated thereunder. Such actions by the SBA would, in turn, negatively affect us.
Our SBIC Subsidiary May Be Unable To Make Distributions To Us That Will Enable Us To Meet Or Maintain RIC Status, Which Could Result In The Imposition Of An Entity-Level Tax [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Our SBIC subsidiaries may be unable to make distributions to us that will enable us to meet or maintain RIC status, which could result in the imposition of an entity-level tax. In order for us to continue to qualify for RIC tax treatment and to minimize corporate-level U.S. federal taxes, we will be required to distribute substantially all of our net ordinary taxable income and net capital gain income, including taxable income from certain of our subsidiaries, which includes the income from HC IV and SBIC V. We will be partially dependent on HC IV and SBIC V for cash distributions to enable us to meet the RIC distribution requirements. HC IV and SBIC V may be limited by SBIC regulations from making certain distributions to us that may be necessary to enable us to maintain our status as a RIC. We may have to request a waiver of the SBA’s restrictions for HC IV or SBIC V to make certain distributions to maintain our eligibility for RIC status. We cannot assure you that the SBA will grant such waiver and if HC IV or SBIC V are unable to obtain a waiver, compliance with the SBIC regulations may result in loss of RIC status and a consequent imposition of an entity-level tax on us.
We Will Be Subject To U.S. Federal Income Tax If We Are Unable To Qualify As A RIC Under Subchapter M Of The Code [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We will be subject to U.S. federal income tax if we are unable to qualify as a RIC under Subchapter M Part I of the Code. To maintain RIC status under Subchapter M Part I of the Code, we must meet the following distribution, income and asset requirements: • The Distribution Requirements for a RIC will be satisfied if we distribute to our stockholders on an annual basis at least 90% of our net ordinary taxable income and realized net short-term capital gains in excess of realized net long-term capital losses, if any. Depending on the level of taxable income earned in a tax year, we may choose to carry forward taxable income in excess of current year distributions into the next tax year and pay a 4% U.S. federal excise tax on such income. Any such carryover taxable income must be distributed through a dividend declared prior to filing the final tax return related to the year which generated such taxable income. For more information regarding tax treatment, see “Item 1. Business — Certain United States Federal Income Tax Considerations — Taxation as a Regulated Investment Company.” Because we use debt financing, we are subject to an asset coverage ratio requirements under the 1940 Act and are (and may in the future become) subject to certain financial covenants under loan and credit agreements that could, under certain circumstances, restrict us from making distributions necessary to satisfy the distribution requirement. In addition, because we receive non-cash sources of income such as PIK interest which involves us recognizing taxable income without receiving the cash representing such income, we may have difficulty meeting the distribution requirement. If we are unable to obtain cash from other sources, we could fail to qualify as a RIC and thus become subject to U.S. federal income tax. • The Income Test will be satisfied if we obtain at least 90% of our gross income for each year from dividends, interest, gains from the sale of stock or securities or similar sources. • The Asset Test will be satisfied if we meet certain asset diversification requirements at the end of each quarter of our taxable year. To satisfy this requirement, at least 50% of the value of our assets must consist of cash, cash equivalents, U.S. government securities, securities of other RICs, and other acceptable securities; and no more than 25% of the value of our assets can be invested in the securities, other than U.S. government securities or securities of other RICs, (i) of one issuer, (ii) of two or more issuers that are controlled, as determined under applicable Code rules, by us and that are engaged in the same or similar or related trades or businesses or (iii) of certain “qualified publicly traded partnerships.” Failure to meet these requirements may result in our having to dispose of certain investments quickly in order to prevent the loss of RIC status. Because most of our investments are in privately held companies, and therefore illiquid, any such dispositions could be made at disadvantageous prices and could result in substantial losses. Moreover, if we fail to maintain our RIC status for any reason and are subject to U.S. federal income taxes, the resulting taxes could substantially reduce our net assets, the amount of income available for distribution and the amount of our distributions.
We May Have Difficulty Paying The Distributions Required To Maintain RIC Status Under The Code If We Recognize Income Before Or Without Receiving Cash Representing Such Income [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may have difficulty paying the distributions required to maintain RIC status under the Code if we recognize income before or without receiving cash representing such income. We will include in income certain amounts that we have not yet received in cash. Among other circumstances, these amounts generally relate to: (i) amortization of OID, which may arise if (a) we receive equity, warrants, or another asset in connection with the origination of a loan; (b) we invest or acquire a debt investment at a discount to its par value; (ii) contractual PIK interest, which represents contractual interest added to the loan balance and due at the end of the loan term; (iii) contractual exit fees, which is a contractual fee accrued over the life of a loan and its typically due at loan payoff; or (iv) contractual preferred dividends, which represents contractual dividends added to the preferred stock and due at the end of the preferred stock term, subject to adequate profitability at the portfolio company. Such amortization of OID, accrual to par of any debt bought below par, accrual of PIK, exit fees, and cumulative preferred dividends will be included in income before we receive the corresponding cash payments. Since, in certain cases, we may recognize taxable income before or without receiving cash representing such income, we may have difficulty meeting the Distribution Requirements necessary to maintain RIC status under the Code. Accordingly, we may have to sell some of our investments at times and/or at prices we would not consider advantageous, raise additional debt or equity capital or forgo new investment opportunities for this purpose. If we are not able to obtain cash from other sources, we may fail to qualify as a RIC and thus become subject to U.S. federal income tax. For additional discussion regarding the tax implications of a RIC, please see “Item 1. Business — Certain United States Federal Income Tax Considerations – Taxation as a Regulated Investment Company.”
We May In The Future Choose To Pay Distributions In Our Own Stock, In Which Case You May Be Required To Pay Tax In Excess Of The Cash You Receive [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may in the future choose to pay distributions in our own stock, in which case you may be required to pay tax in excess of the cash you receive. We may distribute taxable dividends that are payable in part in our stock. Under certain applicable provisions of the Code and the Treasury regulations, distributions payable by us in cash or in shares of stock (at the stockholders’ election) would satisfy the Distribution Requirements. The IRS has issued guidance providing that a dividend payable in stock or in cash at the election of the stockholders will be treated as a taxable dividend eligible for the dividends paid deduction provided that at least 20% of the total dividend is payable in cash and certain other requirements are satisfied. Taxable stockholders receiving such dividends will be required to include the full amount of the dividend as ordinary income (or as long-term capital gain to the extent such dividend is properly reported as a capital gain dividend) to the extent of our current and accumulated earnings and profits for U.S. federal income tax purposes. As a result, a U.S. stockholder may be required to pay tax with respect to such dividends in excess of any cash received. If a U.S. stockholder sells the stock it receives as a dividend in order to pay this tax, the sales proceeds may be less than the amount included in income with respect to the dividend, depending on the market price of our stock at the time of the sale. Furthermore, with respect to non-U.S. stockholders, we may be required to withhold U.S. tax with respect to such dividends, including in respect of all or a portion of such dividend that is payable in stock. In addition, if a significant number of our stockholders determine to sell shares of our stock in order to pay taxes owed on dividends, it may put downward pressure on the trading price of our stock.
Stockholders May Have Current Tax Liability On Dividends They Elect To Reinvest In Our Common Stock But Would Not Receive Cash From Such Dividends To Pay Such Tax Liability [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Stockholders may have current tax liability on dividends they elect to reinvest in our common stock but would not receive cash from such dividends to pay such tax liability. If stockholders participate in our dividend reinvestment plan, they will be deemed to have received, and for federal income tax purposes will be taxed on, the amount reinvested in our common stock to the extent the amount reinvested was not a tax-free return of capital. As a result, unless a stockholder is a tax-exempt entity, it may have to use funds from other sources to pay its tax liability on the value of the dividend that they have elected to have reinvested in our common stock.
Legislative Or Regulatory Tax Changes Could Adversely Affect Our Stockholders [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Legislative or regulatory tax changes could adversely affect our stockholders. At any time, the U.S. federal income tax laws governing RICs or the administrative interpretations of those laws or regulations may be amended. The likelihood of any new legislation being enacted is uncertain. Any of those new laws, regulations or interpretations may take effect retroactively and could adversely affect the taxation of us or our stockholders. Therefore, changes in tax laws, regulations or administrative interpretations or any amendments thereto could diminish the value of an investment in our shares or the value or the resale potential of our investments. If we do not comply with applicable laws and regulations, we could lose any licenses that we then hold for the conduct of our business and may be subject to civil fines and criminal penalties.
FATCA Withholding May Apply To Payments Made To Certain Foreign Entities [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										FATCA withholding may apply to payments made to certain foreign entities.
We are currently operating in a period of capital markets disruption and economic uncertainty, and capital markets may experience periods of disruption and instability in the future [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Capital markets may experience periods of disruption and instability in the future. These market conditions, when they occur, may materially and adversely affect debt and equity capital markets in the United States and abroad, which may have a negative impact on our business and operations. U.S. capital markets have experienced volatility and disruption in recent years, including as a result of the COVID-19 pandemic, certain regional bank failures, and an inflationary economic environment. Any future market disruptions and/or illiquidity could have an adverse effect on our business, financial condition, results of operations and cash flows, as well as the businesses of our portfolio companies, and the broader financial and credit markets. At various times, such disruptions in the past have resulted in, and may in the future result in, a lack of liquidity in parts of the debt capital markets, significant write-offs in the financial services sector and the repricing of credit risk. Such conditions may occur for a prolonged period of time, and may materially worsen in the future, including as a result of U.S. government shutdowns, or future downgrades to the U.S. government's sovereign credit rating or the perceived credit worthiness of the U.S. or other large global economies. In addition, the current U.S. political environment and the new incoming U.S. federal administration and the resulting uncertainties regarding actual and potential shifts in U.S. foreign investment, trade, healthcare, taxation, economic, environmental and other policies, as well as the impact of geopolitical tension, such as a deterioration in the bilateral relationship between the U.S. and China or the conflict between Russia and Ukraine or conflict in the Middle East, could lead to disruption, instability and volatility in the global capital markets. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events have limited in the past and could continue to limit our investment originations, and limit our ability to grow and could have a material negative impact on our operating results, financial condition, results of operations and cash flows and the value of our debt and equity investments.
Uncertainty about presidential administration initiatives could negatively impact our business, financial condition and results of operations [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Uncertainty about presidential administration initiatives could negatively impact our business, financial condition and results of operations. There is significant uncertainty with respect to legislation, regulation and government policy at the federal level, as well as the state and local levels. Recent events, including the 2024 U.S. presidential election, have created a climate of heightened uncertainty and introduced new and difficult-to-quantify macroeconomic and political risks with potentially far- reaching implications. To the extent the U.S. Congress or the presidential administration implements changes to U.S. policy, those changes may impact, among other things, the U.S. and global economy, international trade and relations, unemployment, immigration, corporate taxes, healthcare, the U.S. regulatory environment, inflation and other areas. Although we cannot predict the impact, if any, of these changes to our business, they could adversely affect our business, financial condition, operating results and cash flows. Until we know what policy changes are made and how those changes impact our business and the business of our competitors over the long term, we will not know if, overall, we will benefit from them or be negatively affected by them.
Changes to U.S. tariff and import/export regulations may have a negative effect on our portfolio companies and, in turn, harm us. [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Changes to U.S. tariff and import/export regulations may have a negative effect on our portfolio companies and, in turn, harm us. There have been ongoing discussion and commentary regarding potential significant changes to U.S. trade policies, treaties and tariffs, creating significant uncertainty about the future relationship between the United States and other countries with respect to trade policies, treaties and tariffs. These developments, or the perception that more of them could occur, may have a material adverse effect on global economic conditions and the stability of global financial markets, and may significantly reduce global trade and, in particular, trade between the impacted nations and the United States. Any of these factors could depress economic activity and restrict our portfolio companies’ access to suppliers or customers and have a material adverse effect on their business, financial condition and results of operations, which in turn would negatively impact us.
Deterioration in the economy and financial markets could impair our portfolio companies financial positions and operating results and affect the industries in which we invest, which could, in turn, harm our operating results [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Deterioration in the economy and financial markets could impair our portfolio companies’ financial positions and operating results and affect the industries in which we invest, which could, in turn, harm our operating results. The broader fundamentals of the United States economy remain mixed. In the event that the United States economy contracts, it is likely that the financial results of small to mid-sized companies, like those in which we invest, could experience deterioration or limited growth from current levels, which could ultimately lead to difficulty in meeting their debt service requirements and an increase in defaults. Consequently, we can provide no assurance that the performance of certain portfolio companies will not be negatively impacted by economic cycles, industry cycles or other conditions, which could also have a negative impact on our future results. Although we have been able to secure access to additional liquidity, the potential for volatility in the debt and equity capital markets provides no assurance that debt or equity capital will be available to us in the future on favorable terms, or at all.
We May Experience Fluctuations In Our Operating Results [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may experience fluctuations in our operating results. We could experience fluctuations in our operating results due to a number of factors, including our ability or inability to make investments in companies that meet our investment criteria, the interest rate payable on the debt securities we acquire, the level of portfolio dividend and fee income, the level of our expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which we encounter competition in our markets and general economic conditions. As a result of these factors, operating results for any period should not be relied upon as being indicative of performance in future periods.
Terrorist Attacks, Acts Of War, Public Health Crises, Climate Change, Or Natural Disasters May Affect Any Market For Our Securities, Impact The Businesses In Which We Invest And Harm Our Business [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Terrorist attacks, acts of war, public health crises, climate change, or natural disasters may affect any market for our securities, impact the businesses in which we invest and harm our business, operating results and financial condition. Terrorist acts, acts of war, public health crises (such as the COVID-19 outbreak) or natural disasters may disrupt our operations, as well as the operations of the businesses in which we invest. Such acts have created, and continue to create, economic and political uncertainties and have contributed to global economic instability. Future terrorist activities, military or security operations, public health crises, climate change, or natural disasters could further weaken the domestic/global economies and create additional uncertainties, which may negatively impact the businesses in which we invest directly or indirectly and, in turn, could have a material adverse impact on our business, operating results and financial condition. Losses from terrorist attacks, public health crises, climate change, and natural disasters are generally uninsurable.
Technological innovations and industry disruptions, including those related to artificial intelligence and machine learning, may negatively impact us. [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										Technological innovations and industry disruptions, including those related to artificial intelligence and machine learning, may negatively impact us. Technological innovations, including artificial intelligence and machine learning, have disrupted traditional approaches in multiple industries and can permit younger companies to achieve success and in the process disrupt markets and market practices. We can provide no assurance that new businesses and approaches will not be created that would compete with us and/or our portfolio companies or alter the market practices in which we have been designed to function within and on which we depend on for our investment return. New approaches could damage our investments, disrupt the market in which we operate and subject us to increased competition, which could materially and adversely affect our business, financial condition and results of investments.
We Are Highly Dependent On Information Systems And Systems Failures Could Significantly Disrupt Our Business, Which May, In Turn, Negatively Affect The Market Price Of Our Common Stock And Our Ability To Pay Dividends [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We are highly dependent on information systems and systems failures could significantly disrupt our business, which may, in turn, negatively affect the market price of our common stock and our ability to pay dividends. Our business is highly dependent on our and third parties’ communications and information systems. Any failure or interruption of those systems, including as a result of the termination of an agreement with any third-party service providers, could cause delays or other problems in our activities. Our financial, accounting, data processing, backup or other operating systems and facilities may fail to operate properly or become disabled or damaged as a result of a number of factors including events that are wholly or partially beyond our control and adversely affect our business. Such events could include: • sudden electrical or telecommunications outages; • natural disasters such as earthquakes, tornadoes and hurricanes; • disease pandemics; • events arising from local or larger scale political or social matters, including terrorist acts and social unrest; and • cyber-attacks, including software viruses, ransomware, malware and phishing and vishing schemes.
Failure In Cyber Security Systems, As Well As The Occurrence Of Events Unanticipated In Our Disaster Recovery Systems And Business Continuity Planning Could Impair Our Ability To Conduct Business [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										The failure in cyber security systems, as well as the occurrence of events unanticipated in our disaster recovery systems and business continuity planning could impair our ability to conduct business effectively. Our business operations rely upon secure information technology systems for data processing, storage and reporting. Despite careful security and controls design, implementation and updating, our information technology systems could become subject to cyber-attacks, which have been occurring globally at a more frequent and severe level and are expected to continue to increase in frequency and severity in the future. Network, system, application and data breaches could result in operational disruptions or information misappropriation, which could have a material adverse effect on our business, results of operations and financial condition. We depend heavily upon computer systems to perform necessary business functions. Despite our implementation of a variety of security measures, our computer systems could be subject to cyber-attacks and unauthorized access, such as physical and electronic break-ins or unauthorized tampering. Like other companies, we may experience threats to our data and systems, including malware and computer virus attacks, unauthorized access, system failures and disruptions. If one or more of these events occurs, it could potentially jeopardize the confidential, proprietary and other information processed and stored in, and transmitted through, our computer systems and networks, or otherwise cause interruptions or malfunctions in our operations, which could result in damage to our reputation, financial losses, litigation, increased costs, regulatory penalties and/or customer dissatisfaction or loss. Third parties with which we do business (including, but not limited to, service providers, such as accountants, custodians, transfer agents and administrators, and the issuers of securities in which we invest) may also be sources or targets of cyber security or other technological risks. While we engage in actions to reduce our exposure to third-party risks, we cannot control the cyber security plans and systems put in place by these third parties and ongoing threats may result in unauthorized access, loss, exposure or destruction of data, or other cybersecurity incidents, with increased costs and other consequences, including those described above.
We May Be The Target Of Litigation [Member]
General Description of Registrant [Abstract]
Risk [Text Block]										We may be the target of litigation. We may be the target of securities litigation in the future, particularly if the value of shares of our common stock fluctuates significantly. We could also generally be subject to litigation, including derivative actions by our stockholders or in connection with shareholder activism. In addition, our investment activities subject us to litigation relating to the bankruptcy process and the normal risks of becoming involved in litigation by third parties. This risk is somewhat greater where we exercise control or significant influence over a portfolio company’s direction. Any litigation could result in substantial costs and divert management’s attention and resources from our business and cause a material adverse effect on our business, financial condition and results of operations.
Securitized Credit Facility With Wells Fargo Capital Finance [Member]
Financial Highlights [Abstract]
Senior Securities Amount													$ 0	$ 0	$ 0	$ 13,106,582	$ 0	$ 5,015,620	$ 50,000,000
Senior Securities Coverage per Unit													$ 0	$ 0	$ 0	$ 147,497	$ 0	$ 290,234	$ 26,352
Secured Credit Facility with M U F G Bank Ltd. (M U F G) [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 116,000,000				$ 61,000,000				$ 116,000,000	$ 61,000,000	$ 107,000,000	$ 0	$ 0	$ 103,918,736	$ 39,849,010	$ 0	$ 0	$ 0
Senior Securities Coverage per Unit		$ 32,511				$ 55,250				$ 32,511	$ 55,250	$ 27,964	$ 0	$ 0	$ 23,423	$ 48,513	$ 0	$ 0	$ 0
Secured Credit Facility with Sumitomo Mitsui Banking Corporation (S M B C) [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 283,789,800				$ 94,000,000				$ 283,789,800	$ 94,000,000	$ 72,000,000	$ 29,924,726
Senior Securities Coverage per Unit		$ 13,289				$ 35,854				$ 13,289	$ 35,854	$ 41,558	$ 85,479
Small Business Administration Debentures (HT II) [Member]
Financial Highlights [Abstract]
Senior Securities Amount																$ 0	$ 41,200,000	$ 41,200,000	$ 41,200,000
Senior Securities Coverage per Unit																$ 0	$ 39,814	$ 35,333	$ 31,981
Small Business Administration Debentures (HT III) [Member]
Financial Highlights [Abstract]
Senior Securities Amount													$ 0	$ 99,000,000	$ 149,000,000	$ 149,000,000	$ 149,000,000	$ 149,000,000	$ 149,000,000
Senior Securities Coverage per Unit													$ 0	$ 26,168	$ 16,336	$ 12,974	$ 11,009	$ 9,770	$ 8,843
Small Business Administration Debentures (HC IV) [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 175,000,000				$ 175,000,000				$ 175,000,000	$ 175,000,000	$ 175,000,000	$ 150,500,000
Senior Securities Coverage per Unit		$ 21,550				$ 19,259				$ 21,550	$ 19,259	$ 17,098	$ 16,996
Small Business Administration Debentures (SBIC V) [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 104,000,000								$ 104,000,000
Senior Securities Coverage per Unit		$ 36,263								$ 36,263
Convertible Notes 2016 [Member]
Financial Highlights [Abstract]
Senior Securities Amount																		$ 0	$ 17,604,000
Senior Securities Coverage per Unit																		$ 0	$ 74,847
Senior Securities Average Market Value per Unit																			$ 1,110
April 2019 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount																	$ 0	$ 64,489,500	$ 64,489,500
Senior Securities Coverage per Unit																	$ 0	$ 22,573	$ 20,431
Senior Securities Average Market Value per Unit																		$ 1,022	$ 1,017
September 2019 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount																	$ 0	$ 45,875,000	$ 45,875,000
Senior Securities Coverage per Unit																	$ 0	$ 31,732	$ 28,722
Senior Securities Average Market Value per Unit																		$ 1,023	$ 1,009
Notes 2022 [Member]
Financial Highlights [Abstract]
Senior Securities Amount												$ 0	$ 150,000,000	$ 150,000,000	$ 150,000,000	$ 150,000,000	$ 150,000,000
Senior Securities Coverage per Unit												$ 0	$ 17,053	$ 17,271	$ 16,227	$ 12,888	$ 10,935
Senior Securities Average Market Value per Unit													$ 1,019	$ 1,017	$ 1,008	$ 976	$ 1,014
Notes 2024 [Member]
Financial Highlights [Abstract]
Senior Securities Amount															$ 0	$ 83,509,600	$ 183,509,600	$ 252,873,175	$ 103,000,000
Senior Securities Coverage per Unit															$ 0	$ 23,149	$ 8,939	$ 5,757	$ 12,792
Senior Securities Average Market Value per Unit																$ 1,011	$ 1,025	$ 1,016	$ 1,014
Notes 2025 [Member]
Financial Highlights [Abstract]
Senior Securities Amount													$ 0	$ 75,000,000	$ 75,000,000	$ 75,000,000
Senior Securities Coverage per Unit													$ 0	$ 34,541	$ 32,454	$ 25,776
Senior Securities Average Market Value per Unit														$ 1,020	$ 1,032	$ 962
Notes 2033 [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 40,000,000				$ 40,000,000				$ 40,000,000	$ 40,000,000	$ 40,000,000	$ 40,000,000	$ 40,000,000	$ 40,000,000	$ 40,000,000
Senior Securities Coverage per Unit		$ 94,283				$ 84,256				$ 94,283	$ 84,256	$ 74,804	$ 63,948	$ 64,765	$ 60,851	$ 48,330
Senior Securities Average Market Value per Unit										$ 1,007	$ 1,010	$ 984	$ 1,067	$ 1,072	$ 1,054	$ 934
July 2024 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 0				$ 105,000,000				$ 0	$ 105,000,000	$ 105,000,000	$ 105,000,000	$ 105,000,000	$ 105,000,000
Senior Securities Coverage per Unit		$ 0				$ 32,098				$ 0	$ 32,098	$ 28,497	$ 24,361	$ 24,672	$ 23,181
February 2025 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 50,000,000				$ 50,000,000				$ 50,000,000	$ 50,000,000	$ 50,000,000	$ 50,000,000	$ 50,000,000
Senior Securities Coverage per Unit		$ 75,426				$ 67,405				$ 75,426	$ 67,405	$ 59,843	$ 51,159	$ 51,812
June 2025 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 70,000,000				$ 70,000,000				$ 70,000,000	$ 70,000,000	$ 70,000,000	$ 70,000,000	$ 70,000,000
Senior Securities Coverage per Unit		$ 53,876				$ 48,146				$ 53,876	$ 48,146	$ 42,745	$ 36,542	$ 37,009
June 2025 3-Year Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 50,000,000				$ 50,000,000				$ 50,000,000	$ 50,000,000	$ 50,000,000
Senior Securities Coverage per Unit		$ 75,426				$ 67,405				$ 75,426	$ 67,405	$ 59,843
March 2026 A Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 50,000,000				$ 50,000,000				$ 50,000,000	$ 50,000,000	$ 50,000,000	$ 50,000,000	$ 50,000,000
Senior Securities Coverage per Unit		$ 75,426				$ 67,405				$ 75,426	$ 67,405	$ 59,843	$ 51,159	$ 51,812
March 2026 B Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 50,000,000				$ 50,000,000				$ 50,000,000	$ 50,000,000	$ 50,000,000	$ 50,000,000
Senior Securities Coverage per Unit		$ 75,426				$ 67,405				$ 75,426	$ 67,405	$ 59,843	$ 51,159
September 2026 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 325,000,000				$ 325,000,000				$ 325,000,000	$ 325,000,000	$ 325,000,000	$ 325,000,000
Senior Securities Coverage per Unit		$ 11,604				$ 10,370				$ 11,604	$ 10,370	$ 9,207	$ 7,871
January 2027 Notes [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 350,000,000				$ 350,000,000				$ 350,000,000	$ 350,000,000	$ 350,000,000
Senior Securities Coverage per Unit		$ 10,775				$ 9,629				$ 10,775	$ 9,629	$ 8,549
Asset-Backed Notes 2017 [Member]
Financial Highlights [Abstract]
Senior Securities Amount																			$ 0
Senior Securities Coverage per Unit																			$ 0
Asset-Backed Notes 2021 [Member]
Financial Highlights [Abstract]
Senior Securities Amount																$ 0	$ 49,152,504	$ 109,205,263	$ 129,300,000
Senior Securities Coverage per Unit																$ 0	$ 33,372	$ 13,330	$ 10,190
Senior Securities Average Market Value per Unit																	$ 1,001	$ 1,002	$ 996
Asset-Backed Notes 2027 [Member]
Financial Highlights [Abstract]
Senior Securities Amount													$ 0	$ 180,988,022	$ 200,000,000	$ 200,000,000
Senior Securities Coverage per Unit													$ 0	$ 14,314	$ 12,170	$ 9,666
Senior Securities Average Market Value per Unit														$ 1,001	$ 1,004	$ 1,006
Asset-Backed Notes 2028 [Member]
Financial Highlights [Abstract]
Senior Securities Amount													$ 0	$ 250,000,000	$ 250,000,000
Senior Securities Coverage per Unit													$ 0	$ 10,362	$ 9,736
Senior Securities Average Market Value per Unit														$ 1,002	$ 1,004
Asset-Backed Notes 2031 [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 119,475,297				$ 150,000,000				$ 119,475,297	$ 150,000,000	$ 150,000,000
Senior Securities Coverage per Unit		$ 31,566				$ 22,468				$ 31,566	$ 22,468	$ 19,948
Senior Securities Average Market Value per Unit										$ 963	$ 950	$ 951
Convertible Notes 2022 [Member]
Financial Highlights [Abstract]
Senior Securities Amount												$ 0	$ 230,000,000	$ 230,000,000	$ 230,000,000	$ 230,000,000	$ 230,000,000
Senior Securities Coverage per Unit												$ 0	$ 11,121	$ 11,264	$ 10,583	$ 8,405	$ 7,132
Senior Securities Average Market Value per Unit													$ 1,026	$ 1,027	$ 1,021	$ 946	$ 1,028
Senior Securities [Member]
Financial Highlights [Abstract]
Senior Securities Amount		$ 1,783,265,097				$ 1,570,000,000				$ 1,783,265,097	$ 1,570,000,000	$ 1,594,000,000	$ 1,250,424,726	$ 1,299,988,022	$ 1,302,918,736	$ 980,465,192	$ 802,862,104	$ 667,658,558	$ 600,468,500
Senior Securities Coverage per Unit		$ 2,115				$ 2,147				$ 2,115	$ 2,147	$ 1,877	$ 2,046	$ 1,993	$ 1,868	$ 1,972	$ 2,043	$ 2,180	$ 2,194

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity Program Overview Our cybersecurity program is designed to identify, assess, and manage material risks from cybersecurity threats. The cyber risk management program involves risk assessments, implementation of security measures, and ongoing monitoring of systems and networks, including networks on which we rely. We actively monitor the current threat landscape in an effort to identify material risks arising from new and evolving cybersecurity threats. We engage external experts, including cybersecurity assessors, consultants, and auditors to evaluate cybersecurity measures and risk management processes. We depend on and engage various third parties, including suppliers, vendors, and service providers. Our legal, operations, information technology, and compliance personnel identify and oversee risks from cybersecurity threats associated with our use of such entities. Board Oversight of Cybersecurity Risks Our Board provides strategic oversight on cybersecurity matters, including risks associated with cybersecurity threats. The Board receives periodic updates from our Chief Operating Officer and, as appropriate, the Chief Compliance Officer, the Director of Information Technology and third-party cybersecurity experts, regarding the overall state of our cybersecurity program, information on the current threat landscape, and risks from cybersecurity threats and cybersecurity incidents. Management's Role in Cybersecurity Risk Management Our management, including our Chief Operating Officer and Chief Compliance Officer, is responsible for assessing and managing material risks from cybersecurity threats. Members of Company management possess relevant expertise in various disciplines that are key to effectively managing such risks, such as information systems technology, cybersecurity, regulatory compliance and corporate governance. Our management is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents, including through the receipt of notifications from service providers and reliance on communications with legal, operations, information technology, and/or compliance personnel. Assessment of Cybersecurity Risk
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity program is designed to identify, assess, and manage material risks from cybersecurity threats. The cyber risk management program involves risk assessments, implementation of security measures, and ongoing monitoring of systems and networks, including networks on which we rely. We actively monitor the current threat landscape in an effort to identify material risks arising from new and evolving cybersecurity threats. We engage external experts, including cybersecurity assessors, consultants, and auditors to evaluate cybersecurity measures and risk management processes. We depend on and engage various third parties, including suppliers, vendors, and service providers. Our legal, operations, information technology, and compliance personnel identify and oversee risks from cybersecurity threats associated with our use of such entities.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our management, including our Chief Operating Officer and Chief Compliance Officer, is responsible for assessing and managing material risks from cybersecurity threats. Members of Company management possess relevant expertise in various disciplines that are key to effectively managing such risks, such as information systems technology, cybersecurity, regulatory compliance and corporate governance. Our management is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents, including through the receipt of notifications from service providers and reliance on communications with legal, operations, information technology, and/or compliance personnel.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our management, including our Chief Operating Officer and Chief Compliance Officer, is responsible for assessing and managing material risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Members of Company management possess relevant expertise in various disciplines that are key to effectively managing such risks, such as information systems technology, cybersecurity, regulatory compliance and corporate governance. Our management is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents, including through the receipt of notifications from service providers and reliance on communications with legal, operations, information technology, and/or compliance personnel.
Cybersecurity Risk Role of Management [Text Block]	Board Oversight of Cybersecurity Risks Our Board provides strategic oversight on cybersecurity matters, including risks associated with cybersecurity threats. The Board receives periodic updates from our Chief Operating Officer and, as appropriate, the Chief Compliance Officer, the Director of Information Technology and third-party cybersecurity experts, regarding the overall state of our cybersecurity program, information on the current threat landscape, and risks from cybersecurity threats and cybersecurity incidents. Management's Role in Cybersecurity Risk Management
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management, including our Chief Operating Officer and Chief Compliance Officer, is responsible for assessing and managing material risks from cybersecurity threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Members of Company management possess relevant expertise in various disciplines that are key to effectively managing such risks, such as information systems technology, cybersecurity, regulatory compliance and corporate governance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our management is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents, including through the receipt of notifications from service providers and reliance on communications with legal, operations, information technology, and/or compliance personnel.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S GAAP and pursuant to Regulation S-X. The Company’s functional currency is U.S. dollars (“USD”) and these consolidated financial statements have been prepared in that currency. As an investment company, the Company follows accounting and reporting guidance as set forth in Topic 946, Financial Services – Investment Companies (“ASC Topic 946”) of the Financial Accounting Standards Board's (“FASB”) Accounting Standards Codification, as amended (“ASC”). As provided under Regulation S-X and ASC Topic 946, the Company will not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Rather, an investment company’s interest in portfolio companies that are not investment companies should be measured at fair value in accordance with ASC Topic 946. The Adviser Subsidiary is not an investment company as defined in ASC Topic 946 and further, the Adviser Subsidiary provides investment advisory services exclusively to the Adviser Funds which are owned by External Parties. As such, pursuant to ASC Topic 946, the Adviser Subsidiary is accounted for as a portfolio investment of the Company held at fair value and is not consolidated. Financial statements prepared on a U.S. GAAP basis require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of income, expenses, gains and losses during the reported periods. Changes in the economic and regulatory environment, financial markets, the credit worthiness of our portfolio companies, other macro-economic developments (for example, global pandemics, natural disasters, terrorism, international conflicts and war), and any other parameters used in determining these estimates and assumptions could cause actual results to differ from these estimates and assumptions.
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company, its consolidated subsidiaries, and all Variable Interest Entities (“VIE”) of which the Company is the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. A VIE is an entity that either (i) has insufficient equity to permit the entity to finance its activities without additional subordinated financial support or (ii) has equity investors who lack the characteristics of a controlling financial interest. The primary beneficiary of a VIE is the party with both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb the losses or the right to receive benefits that could be significant to the VIE. To assess whether the Company has the power to direct the activities of a VIE that most significantly impact its economic performance, the Company considers all the facts and circumstances including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes identifying the activities that most significantly impact the VIE’s economic performance and identifying which party, if any, has power over those activities. In general, the party that makes the most significant decisions affecting the VIE is determined to have the power to direct the activities of a VIE. To assess whether the Company has the obligation to absorb the losses or the right to receive benefits that could potentially be significant to the VIE, the Company considers all of its economic interests, including debt and equity interests, servicing rights and fee arrangements, and any other variable interests in the VIE. If the Company determines that it is the party with the power to make the most significant decisions affecting the VIE, and the Company has a potentially significant interest in the VIE, then it consolidates the VIE. The Company performs periodic reassessments, usually quarterly, of whether it is the primary beneficiary of a VIE. The reassessment process considers whether the Company has acquired or divested the power to direct the activities of the VIE through changes in governing documents or other circumstances. The Company also reconsiders whether entities previously determined not to be VIEs have become VIEs, based on certain events, and therefore are subject to the VIE consolidation framework. The Company's Consolidated Financial Statements included the accounts of the securitization trust, a VIE, formed in 2022 in conjunction with the issuance of the 2031 Asset-Backed Notes (as defined in “Note 5 – Debt”). The assets of the Company's securitization VIE are restricted to be used to settle obligations of its consolidated securitization VIE, which are disclosed parenthetically on the Consolidated Statements of Assets and Liabilities. The liabilities are the only obligations of its consolidated securitization VIE, and the creditors (or beneficial interest holders) do not have recourse to the Company's general credit.
Fair Value Measurements	Fair Value Measurements The Company follows guidance in Accounting Standards Codification Topic 820, Fair Value Measurement (“ASC Topic 820”), where fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a framework for measuring the fair value of assets and liabilities and outlines a three-tier hierarchy which maximizes the use of observable market data input and minimizes the use of unobservable inputs to establish a classification of fair value measurements. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. ASC Topic 820 also requires disclosure for fair value measurements based on the level within the hierarchy of the information used in the valuation. ASC Topic 820 applies whenever other standards require (or permit) assets or liabilities to be measured at fair value. The Company categorizes all investments recorded at fair value in accordance with ASC Topic 820 based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by ASC Topic 820 and directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, are as follows: Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets at the measurement date. The types of assets carried at Level 1 fair value generally are equities listed in active markets. Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset in connection with market data at the measurement date and for the extent of the instrument’s anticipated life. Fair valued assets that are generally included in this category are publicly held debt investments and warrants held in a public company.
Valuation of Investments	Valuation of Investments The most significant estimate inherent in the preparation of the Company’s consolidated financial statements is the valuation of investments and the related amounts of unrealized appreciation and depreciation of investments recorded. Pursuant to Rule 2a-5 of the 1940 Act, the Board has designated the Company’s Valuation Committee as the “valuation designee”. As of December 31, 2024, approximately 95.5% of the Company’s total assets represented investments in portfolio companies whose fair value is determined in good faith by the Company's Valuation Committee and approved by the Board. Fair Value, as defined in Section 2(a)(41) of the 1940 Act, is (i) the market price for those securities for which a market quotation is readily available and (ii) for all other securities and assets, fair value is as determined in good faith by the Valuation Committee, as valuation designee of the Board. The Company’s investments are carried at fair value in accordance with Rule 2a-5 under the 1940 Act and ASC Topic 946. Given the Company's investment strategy, nature of investments, and types of businesses in which it invests, substantially all of the Company’s investments are considered Level 3 assets under ASC Topic 820 because there generally is no known or accessible market or market indexes for these investment securities to be traded or exchanged. As such, the Company values substantially all of its investments at fair value as determined in good faith pursuant to the valuation guidelines approved by the Board in accordance with the provisions of ASC Topic 820 and the 1940 Act. Due to the inherent uncertainty in determining the fair value of investments that do not have a readily available market values, the fair value of the Company’s investments may differ significantly from the value that would have been used had a readily available market existed for such investments, and the differences could be material. In accordance with procedures approved by its Board, the Company values investments on a quarterly basis following a multistep valuation process. The quarterly Board approved multi-step valuation process is described below: (1) The Company’s quarterly valuation process begins with each portfolio company being initially valued by the investment professionals responsible for the portfolio investment; (2) Preliminary valuation conclusions and business-based assumptions, along with any applicable fair value marks provided by an independent firm, are reviewed with the Company’s investment committee and certain member(s) of credit group as necessary; (3) The Valuation Committee reviews the preliminary valuations recommended by the investment committee and certain member(s) of the credit group of each investment in the portfolio and determines the fair value of each investment in the Company’s portfolio in good faith and recommends the valuation determinations to the Audit Committee of the Board; (4) The Audit Committee of the Board provides oversight of the quarterly valuation process in accordance with Rule 2a-5, which includes a review of the quarterly reports prepared by the Valuation Committee, reviews the fair valuation determinations made by the Valuation Committee, and approves such valuations for inclusion in public reporting and disclosures, as appropriate; and (5) The Board, upon the recommendation of the Audit Committee, discusses valuations and approves the fair value of each investment in the Company’s portfolio. Investments purchased within the preceding two calendar quarters before the valuation date and debt investments with remaining maturities within 12 months or less may each be valued at cost with interest accrued or discount accreted/premium amortized to the date of maturity, unless such valuation, in the judgment of the Company, does not represent fair value. In this case such investments shall be valued at fair value as determined in good faith by the Valuation Committee and approved by the Board. Investments that are not publicly traded or whose market quotations are not readily available are valued at fair value as determined in good faith by the Valuation Committee subject to oversight and approval of the Board. As part of the overall process noted above, the Company engages one or more independent valuation firm(s) to provide management with assistance in determining the fair value of selected portfolio investments each quarter. In selecting which portfolio investments to engage an independent valuation firm, the Company considers a number of factors, including, but not limited to, the potential for material fluctuations in valuation results, size, credit quality, and the time lapse since the last valuation of the portfolio investment by an independent valuation firm. The scope of services rendered by the independent valuation firm is at the discretion of the Valuation Committee and subject to approval of the Board, and the Company may engage an independent valuation firm to value all or some of our portfolio investments. In determining the fair value of a portfolio investment in good faith, the Company recognizes these determinations are made using the best available information that is knowable or reasonably knowable. In addition, changes in the market environment, portfolio company performance and other events that may occur over the duration of the investments may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. The change in fair value of each individual investment is recorded as an adjustment to the investment's fair value and the change is reflected in unrealized appreciation or depreciation. The Company records unrealized depreciation on investments when it believes that an investment has decreased in value, including where it believes collection of a debt investment is doubtful or, if under the in-exchange premise, when it believes the value of a debt investment is less than the amortized cost of the investment. Conversely, where appropriate, the Company records unrealized appreciation if it believes that the underlying portfolio company has appreciated in value and, therefore, that its investment has also appreciated in value or, if it believes, under the in-exchange premise, the value of an investment is greater than its amortized cost. Debt Investments The Company’s debt investments are substantially considered Level 3 assets under ASC Topic 820 with fair value as determined in good faith pursuant to the process described above. In making a good faith determination of the value of the Company’s investments, the Company generally starts with the cost basis of the investment, which includes the value attributed to the original issue discount (“OID”), if any, and payment-in-kind (“PIK”) interest or other receivables which have been accrued as earned. The Company then applies the valuation methods as set forth below. The Company assumes the sale of each debt security in a hypothetical market to a hypothetical market participant where buyers and sellers are willing participants. The hypothetical market does not include scenarios where the underlying security was simply repaid or extinguished, but includes an exit concept. The Company determines the yield at inception for each debt investment. The Company then uses senior secured, leveraged loan yields provided by third party providers to calibrate the change in market yields between inception of the debt investment and the measurement date. Industry specific indices and other relevant market data are used to benchmark and assess market-based movements for reasonableness. As part of determining the fair value, the Company also evaluates the collateral for recoverability of the debt investments. The Company considers each portfolio company’s credit rating, security liens and other characteristics of the investment to adjust the baseline yield to derive a credit adjusted hypothetical yield for each investment as of the measurement date. The anticipated future cash flows from each investment are then discounted at the hypothetical yield to estimate each investment’s fair value as of the measurement date. The Company’s process includes an analysis of, among other things, the underlying investment performance, the current portfolio company’s financial condition and market changing events that impact valuation, estimated remaining life, current market yield and interest rate spreads of similar securities as of the measurement date. The Company values debt securities that are traded on a public exchange at the prevailing market price as of the valuation date. Certain debt investments may be syndicated, for which sufficient market data is available and liquidity, the Company values debt securities using broker quotes and bond indices amongst other factors. Debt investments with market quotations are generally considered Level 1 or 2 assets in line with ASC Topic 820. If there is a significant deterioration of the credit quality of a debt investment, the Company may consider other factors to estimate fair value, including the proceeds that would be received in a liquidation analysis. When originating a debt instrument, the Company generally receives warrants or other equity securities from the borrower. The Company determines the cost basis of the warrants or other equity securities received based upon their respective fair values on the date of receipt in proportion to the total fair value of the debt and warrants or other equity securities received. Any resulting discount on the debt investments from recording warrant or other equity instruments is accreted into interest income over the life of the debt investment. Equity Securities and Warrants Securities that are traded in the over-the-counter markets or on a stock exchange will be valued at the prevailing bid price at period end. The Company has a limited amount of equity securities in public companies. In accordance with the 1940 Act, unrestricted publicly traded securities for which market quotations are readily available are valued at the closing market quote on the measurement date. At each reporting date, privately held warrant and equity securities are valued based on an analysis of various factors including, but not limited to, the portfolio company’s operating performance and financial condition, general market conditions, price to enterprise value or price to equity ratios, discounted cash flow, valuation comparisons to comparable public companies or other industry benchmarks. When an external event occurs, such as a purchase transaction, public offering, or subsequent equity sale, the pricing indicated by that external event is utilized to corroborate the Company’s valuation of the warrant and equity securities. The Company periodically reviews the valuation of its portfolio companies that have not been involved in a qualifying external event to determine if the enterprise value of the portfolio company may have increased or decreased since the last valuation measurement date. Absent a qualifying external event, the Company estimates the fair value of warrants using a Black Scholes OPM. For certain privately held equity securities, the income approach is used, in which the Company converts future amounts (for example, cash flows or earnings) to a net present value. The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors that the Company may take into account include, as relevant: applicable market yields and multiples, the portfolio company’s capital structure, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, its earnings and discounted cash flows, and enterprise value among other factors. Investment Funds & Vehicles The Company applies the practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value (“NAV”) per share (or its equivalent). ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies, or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment. Investments which are valued using NAV per share as a practical expedient are not categorized within the fair value hierarchy as per ASC Topic 820.
Derivative Instruments	Derivative Instruments The Company's derivative instruments include foreign currency forward contracts. The Company recognizes all derivative instruments as assets or liabilities at fair value in its consolidated financial statements. Derivative contracts entered into by the Company are not designated as hedging instruments, and as a result, the Company presents changes in fair value through net change in unrealized appreciation (depreciation) on non-control/non-affiliate investments in the Consolidated Statements of Operations. Realized gains and losses of the derivative instruments are included in net realized gains (losses) on non-control/non-affiliate investments in the Consolidated Statements of Operations. The net cash flows realized on settlement of derivatives are included in realized (gain) loss in the Consolidated Statements of Cash Flows.
Cash, Cash Equivalents, Foreign Cash, and Restricted Cash	Cash, Cash Equivalents, Foreign Cash, and Restricted Cash Cash and cash equivalents consist solely of funds deposited with financial institutions and short-term liquid investments in money market deposit accounts. Cash and cash equivalents are carried at cost, which approximates fair value. Foreign cash includes the value of foreign currencies held and translated using the prevailing foreign exchange rates on the reporting date. Restricted cash includes amounts that are held as collateral securing certain of the Company’s financing transactions, including amounts held in a securitization trust by trustees related to its 2031 Asset-Backed Notes (refer to “Note 5 – Debt”).
Foreign Currency Translation	Foreign Currency Translation The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the prevailing foreign exchange rate on the reporting date. The Company does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. The Company’s investments in foreign securities may involve certain risks, including foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.
Other Assets	Other Assets Other assets generally consist of prepaid expenses, debt issuance costs related to our Credit Facilities net of accumulated amortization, fixed assets net of accumulated depreciation, deferred revenues and deposits and other assets, including escrow and other investment related receivables.
Debt	Debt
Escrow Receivables	Escrow Receivables
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ROU”) assets, and operating lease liability obligations in our Consolidated Statements of Assets and Liabilities. The Company recognizes a ROU asset and an operating lease liability for all leases, with the exception of short-term leases which have a term of 12 months or less. ROU assets represent the right to use an underlying asset for the lease term and operating lease liability obligations represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. The Company has lease agreements with lease and non-lease components and has separated these components when determining the ROU assets and the related lease liabilities. As most of the Company’s leases do not provide an implicit rate, the Company estimated its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The Company uses the implicit rate when readily determinable. The ROU asset also includes any lease payments made and excludes lease incentives and lease direct costs. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. See “Note 11 – Commitments and Contingencies”.
Investment Income Recognition	Investment Income Recognition The Company’s investment portfolio generates interest, fee, and dividend income. The Company records interest income on an accrual basis, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. The Company’s Structured Debt investments may generate OID related income. "Structured Debt" refers to a debt investment that is structured with an equity, warrant, option, or other right to purchase or convert into common or preferred equity investments. The OID recorded upfront typically represents the value of detachable equity, warrants, or another asset obtained in conjunction with the acquisition of debt securities. The OID value is accreted into interest income over the term of the loan as a yield enhancement following the effective interest method. Additionally, certain debt investments in the Company’s portfolio earn PIK interest. The Company records PIK interest in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. Contractual PIK interest represents contractually deferred interest that is added to the loan balance as principal and is generally due at the end of the loan term. Additionally, the Company’s loan origination activities generate fee income, which is generally collected in advance and includes loan commitment, facility fees for due diligence and structuring, as well as fees for transaction services and management services rendered by the Company to portfolio companies and other third parties. Loan commitment and facility fees are capitalized and then amortized into income over the contractual life of the loan using the effective interest method. One-off fees for transaction and management services are generally recognized as income in the period when the services are rendered. The Company may also earn loan exit fees, which are contractual fees that are generally received upon the earlier of maturity or prepayment. The Company accretes loan exit fees into interest income following the effective interest method, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. From time to time, additional fees may be earned by the Company relating to specific loan modifications, prepayments, or other one-off events. These non-recurring fees are either amortized into fee income over the remaining term of the loan commencing in the quarter for loan modifications, or recognized currently as one-time fee income for items such as prepayment penalties, fees related to select covenant default waiver fees, and acceleration of previously deferred loan fees and OID related to early loan pay-off or material modification of the specific debt outstanding. Debt investments are placed on non-accrual status when it is probable that principal, interest or fees will not be collected according to contractual terms. When a debt investment is placed on non-accrual status, the Company ceases to recognize interest and fee income until the portfolio company has paid all principal and interest due or demonstrated the ability to repay its current and future contractual obligations to the Company. The Company may determine to continue to accrue interest on a loan where the investment has sufficient collateral value to collect all of the contractual amount due and is in the process of collection. Interest collected on non-accrual investments are generally applied to principal.
Investment Income Recognition	Investment Income Recognition The Company’s investment portfolio generates interest, fee, and dividend income. The Company records interest income on an accrual basis, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. The Company’s Structured Debt investments may generate OID related income. "Structured Debt" refers to a debt investment that is structured with an equity, warrant, option, or other right to purchase or convert into common or preferred equity investments. The OID recorded upfront typically represents the value of detachable equity, warrants, or another asset obtained in conjunction with the acquisition of debt securities. The OID value is accreted into interest income over the term of the loan as a yield enhancement following the effective interest method. Additionally, certain debt investments in the Company’s portfolio earn PIK interest. The Company records PIK interest in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. Contractual PIK interest represents contractually deferred interest that is added to the loan balance as principal and is generally due at the end of the loan term. Additionally, the Company’s loan origination activities generate fee income, which is generally collected in advance and includes loan commitment, facility fees for due diligence and structuring, as well as fees for transaction services and management services rendered by the Company to portfolio companies and other third parties. Loan commitment and facility fees are capitalized and then amortized into income over the contractual life of the loan using the effective interest method. One-off fees for transaction and management services are generally recognized as income in the period when the services are rendered. The Company may also earn loan exit fees, which are contractual fees that are generally received upon the earlier of maturity or prepayment. The Company accretes loan exit fees into interest income following the effective interest method, recognizing income as earned in accordance with the contractual terms of the loan agreement, to the extent that such amounts are expected to be collected. From time to time, additional fees may be earned by the Company relating to specific loan modifications, prepayments, or other one-off events. These non-recurring fees are either amortized into fee income over the remaining term of the loan commencing in the quarter for loan modifications, or recognized currently as one-time fee income for items such as prepayment penalties, fees related to select covenant default waiver fees, and acceleration of previously deferred loan fees and OID related to early loan pay-off or material modification of the specific debt outstanding. Debt investments are placed on non-accrual status when it is probable that principal, interest or fees will not be collected according to contractual terms. When a debt investment is placed on non-accrual status, the Company ceases to recognize interest and fee income until the portfolio company has paid all principal and interest due or demonstrated the ability to repay its current and future contractual obligations to the Company. The Company may determine to continue to accrue interest on a loan where the investment has sufficient collateral value to collect all of the contractual amount due and is in the process of collection. Interest collected on non-accrual investments are generally applied to principal.
Realized Gains or Losses	Realized Gains or Losses
Secured Borrowings	Secured Borrowings The Company follows the guidance in ASC Topic 860, Transfers and Servicing (“ASC Topic 860”), when accounting for participation and other partial loan sales. Certain loan sales do not qualify for sale accounting under ASC Topic 860 because these sales do not meet the definition of a “participating interest”, as defined in the guidance, in order for sale accounting treatment to be allowed. Participations or other partial loan sales which do not meet the definition of a participating interest, or which are not eligible for sale accounting treatment remain as an investment on the consolidated balance sheet as required under U.S. GAAP and the proceeds are recorded as a secured borrowing. Secured borrowings are carried at fair value.
Equity Offering Expenses	Equity Offering Expenses
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs are fees and other direct incremental costs incurred by the Company in obtaining debt financing and are recognized as prepaid expenses and amortized over the life of the related debt instrument using the effective yield method or the straight-line method, which closely approximates the effective yield method. In accordance with ASC Subtopic 835-30, Interest – Imputation of Interest, debt issuance costs are presented as a reduction to the associated liability balance on the Consolidated Statements of Assets and Liabilities, except for debt issuance costs associated with line-of-credit arrangements which are included within Other Assets as permitted under GAAP.
Stock Based Compensation	Stock-Based Compensation The Company has issued and may, from time to time, issue stock options, restricted stock, and other stock-based compensation awards to employees and directors. Management follows the guidance set forth under ASC Topic 718, to account for stock-based compensation awards granted. Under ASC Topic 718, compensation expense associated with stock-based compensation is measured at the grant date based on the fair value of the award and is recognized over the vesting period. Determining the appropriate fair value model and calculating the fair value of stock-based awards at the grant date requires judgment. This includes certain assumptions such as stock price volatility, forfeiture rate, expected outcome probability, and expected option life, as applicable to each award. In accordance with ASC Topic 480, certain stock awards are classified as a liability. The compensation expense associated with these awards is recognized in the same manner as all other stock-based compensation. The award liability is recorded as deferred compensation and included in Accounts payable and accrued liabilities.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC Topic 740 Income Taxes, under which income taxes are provided for amounts currently payable and for amounts deferred based upon the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provisions of the enacted tax law. Valuation allowances may be used to reduce deferred tax assets to the amount likely to be realized. Because taxable income as determined in accordance with U.S. federal tax regulations differ from U.S. GAAP, taxable income generally differs from net income for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses, and generally excludes net unrealized appreciation or depreciation, as such gains or losses are not included in taxable income until they are realized. Permanent differences are reclassified among capital accounts in the financial statements to reflect their appropriate tax character. Permanent differences may also result from the change in the classification of certain items, such as the treatment of short-term gains as ordinary income for tax purposes. Temporary differences arise when certain items of income, expense, gains or losses are recognized at some time in the future for tax or U.S. GAAP purposes. The Company has elected to be treated as a RIC under Subchapter M Part I of the Code. To qualify as a RIC, the Company is required to meet certain income and asset tests in addition to distributing dividends of an amount generally at least equal to 90% of its investment company taxable income, as defined by the Code and determined without regard to any deduction for distributions paid, to its stockholders. See “Certain United States Federal Income Tax Considerations” for additional information. As a RIC, the Company is subject to a 4% non-deductible U.S. federal excise tax on certain undistributed income unless the Company makes distributions treated as dividends for U.S. federal income tax purposes in a timely manner to its stockholders in respect of each calendar year of an amount at least equal to the sum of (1) 98% of its ordinary income (taking into account certain deferrals and elections) for each calendar year, (2) 98.2% of its capital gain net income (adjusted for certain ordinary losses) for the 1-year period ending October 31 of each such calendar year and (3) any ordinary income and capital gain net income realized, but not distributed, in preceding calendar years. The Company will not be subject to this excise tax on any amount on which the Company incurred U.S. federal income tax (such as the tax imposed on a RIC’s retained net capital gains). The amount to be paid out as a distribution is determined by the Board each quarter and is based upon the annual earnings estimated by the management of the Company. To the extent that the Company's earnings fall below the amount of the dividend distributions declared, however, a portion of the total amount of the Company's distributions for the fiscal year may be deemed a return of capital.
Earnings Per Share (“EPS”)	Earnings Per Share (“EPS”) Basic EPS is calculated by dividing net earnings applicable to common stockholders by the weighted average number of common shares outstanding. Common shares outstanding includes common stock and restricted stock for which no future service is required as a condition to the delivery of the underlying common stock. Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect of the common stock deliverable pursuant to stock options and to restricted stock for which future service is required as a condition to the delivery of the underlying common stock. In accordance with ASC 260-10-45-60A, the Company uses the two-class method in the computation of basic EPS and diluted EPS, if applicable.
Comprehensive Income	Comprehensive Income
Distributions	Distributions
Segments	Segments The Company has determined that it has a single operating segment in accordance with Topic 280, Segment Reporting (“ASC 280”). Our Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). While the Company lends to and separately evaluates the performance of each portfolio company in which it invests across various technology-related industries including drug discovery and development, software, consumer & business services, and other healthcare services, the Company and the CODM evaluate and monitor performance of the business on an aggregated basis. Further, each investment is evaluated and managed using similar processes and shared operations support functions such as deal origination, underwriting, documentation, loan and compliance administration in addition to administrative functions of human resources, legal, finance and information technology. The CODM uses our consolidated net investment income and net increase (decrease) in net assets resulting from operations as reported in the Consolidated Statements of Operations to assess the Company’s performance and when allocating resources. Net Investment Income is comprised of consolidated total investment income ( ‘segment revenues’ ) and consolidated total net operating expenses (‘significant segment expenses’

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Investments Measured at Fair Value on Recurring Basis	Investments measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations as of December 31, 2024 and December 31, 2023. (in thousands) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Cash and cash equivalents Money Market Fund (1) $ 21,100 $ 21,100 $ — $ — Other assets and liabilities Escrow and Other Investment Receivables $ 152 $ — $ — $ 152 Accounts Payable and Accrued Liabilities (1,012) — — (1012) Investments Senior Secured Debt $ 3,419,044 $ — $ — $ 3,419,044 Unsecured Debt 75,557 — — 75,557 Preferred Stock 53,802 — — 53,802 Common Stock (2) 74,855 30,262 — 44,593 Warrants 30,500 — 8,677 21,823 $ 3,653,758 $ 30,262 $ 8,677 $ 3,614,819 Investment Funds & Vehicles measured at Net Asset Value (3) 6,220 Total Investments, at fair value $ 3,659,978 Derivative Instruments (4) 538 Total Investments including cash and cash equivalents and derivative instruments $ 3,681,616 (in thousands) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Description Cash and cash equivalents Money Market Fund (1) $ 56,000 $ 56,000 $ — $ — Other assets Escrow and Other Investment Receivables $ 10,888 $ — $ — $ 10,888 Investments Senior Secured Debt $ 2,987,577 $ — $ — $ 2,987,577 Unsecured Debt 69,722 — — 69,722 Preferred Stock 53,038 — — 53,038 Common Stock (2) 99,132 57,342 — 41,790 Warrants 33,969 — 11,881 22,088 $ 3,243,438 $ 57,342 $ 11,881 $ 3,174,215 Investment Funds & Vehicles measured at Net Asset Value (3) 4,608 Total Investments, at fair value $ 3,248,046 Derivative Instruments (4) (766) Total Investments including cash and cash equivalents and derivative instruments $ 3,303,280 (1) This investment is included in Cash and cash equivalents in the accompanying Consolidated Statements of Assets and Liabilities. (2) Common Stock includes non-voting security in the form of a promissory note with a lien on shares of issuer's Common Stock. (3) In accordance with U.S. GAAP, certain investments are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are not categorized within the fair value hierarchy as per ASC 820. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the accompanying Consolidated Statements of Assets and Liabilities. (4) Derivative Instruments are carried at fair value and are a Level 2 security within the Company's fair value hierarchy .
Schedule of Reconciliation Changes for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents a reconciliation of changes for all financial assets and liabilities measured at fair value on a recurring basis, excluding accrued interest components, using significant unobservable inputs (Level 3) for the years ended December 31, 2024 and December 31, 2023. (in thousands) Balance as of Net Realized Gains (Losses) (1) Net Change in Unrealized Appreciation (Depreciation) (2) Purchases (5) Sales Repayments (6) Gross Transfers into Level 3 (3)* Gross Transfers out of Level 3 (3)* Balance as of Investments Senior Secured Debt $ 2,987,577 $ (52,120) $ (21,146) $ 1,475,032 $ — $ (965,924) $ — $ (4,375) $ 3,419,044 Unsecured Debt 69,722 — 1,277 4,558 — — — — 75,557 Preferred Stock 53,038 (711) (5,709) 4,753 — — 2,431 — 53,802 Common Stock 41,790 (1,453) (1,506) 4,100 — — 1,662 — 44,593 Warrants 22,088 (648) (702) 3,914 (2,829) — — — 21,823 Other Assets and Liabilities Escrow and Other Investment Receivables 10,888 89 5,869 47 (18,511) — — 1,770 152 Accounts Payable and Accrued Liabilities — (10,938) 11,179 1,870 (1,353) — (1,770) — (1,012) Total $ 3,185,103 $ (65,781) $ (10,738) $ 1,494,274 $ (22,693) $ (965,924) $ 2,323 $ (2,605) $ 3,613,959 (in thousands) Balance as of Net Realized Gains (Losses) (1) Net Change in Unrealized Appreciation (Depreciation) (2) Purchases (5) Sales Repayments (6) Gross Transfers into Level 3 (4)* Gross Transfers out of Level 3 (4)* Balance as of Investments Senior Secured Debt $ 2,741,388 $ (5,350) $ 17,277 $ 1,264,689 $ — $ (990,448) $ — $ (39,979) $ 2,987,577 Unsecured Debt 54,056 — 4,268 11,398 — — — — 69,722 Preferred Stock 41,488 (3,441) (1,123) 2,851 — — 13,263 — 53,038 Common Stock 25,059 — 11,325 6,000 (594) — — — 41,790 Warrants 19,419 (4,295) 4,825 3,894 (1,755) — — — 22,088 Other Assets Escrow and Other Investment Receivables 875 65 (17,022) 537 (283) — 26,716 — 10,888 Total $ 2,882,285 $ (13,021) $ 19,550 $ 1,289,369 $ (2,632) $ (990,448) $ 39,979 $ (39,979) $ 3,185,103 * The Company recognizes transfers as of the transaction date. (1) Included in net realized gains (losses) in the accompanying Consolidated Statements of Operations. (2) Included in net change in unrealized appreciation (depreciation) in the accompanying Consolidated Statements of Operations. (3) Transfers out of Level 3 during the year ended December 31, 2024 related to the conversion of the Company's Level 3 debt investments in Better Therapeutics, Inc. and Eigen Technologies Ltd. into common stock and preferred stock Level 3 investments in acquiring companies. (4) Transfers within Level 3 during the year ended December 31, 2023 related to the conversion of Level 3 debt investments into Level 3 preferred stock investments and other assets. (5) Amounts listed above are inclusive of loan origination fees received at the inception of the loan which are deferred and amortized into fee income as well as the accretion of existing loan discounts and fees during the period. Escrow receivable purchases may include additions due to proceeds held in escrow from the liquidation of level 3 investments. Amounts are net of purchases assigned to the Adviser Funds. (6) Amounts listed above include the acceleration and payment of loan discounts and loan fees due to early payoffs or restructures along with regularly scheduled amortization.
Schedule of Unrealized Gain (Loss) on Investments	The following table presents the net unrealized appreciation (depreciation) recorded for debt, preferred stock, common stock and warrant Level 3 investments relating to assets still held at the reporting date. (in millions) Year Ended December 31, 2024 2023 Debt investments $ (44.2) $ 11.5 Preferred stock (5.9) (4.6) Common stock (2.4) 11.3 Warrant investments 0.7 1.5
Schedule of Quantitative Information of Fair Value Measurements	The following tables provide quantitative information about the Company’s Level 3 fair value measurements as of December 31, 2024 and December 31, 2023. In addition to the techniques and inputs noted in the tables below, according to the Company’s valuation guidelines, the Company may also use other valuation techniques and methodologies when determining the Company’s fair value measurements. The tables below are not intended to be all-inclusive, but rather provide information on the significant Level 3 inputs as they relate to the Company’s fair value measurements. See the accompanying Consolidated Schedule of Investments for the fair value of the Company’s investments. The methodology for the determination of the fair value of the Company’s investments is discussed in “Note 2 – Summary of Significant Accounting Policies”. The significant unobservable input used in the fair value measurement of the Company’s escrow receivables is the amount recoverable at the contractual maturity date of the escrow receivable. Investment Type - Level 3 Fair Value as of Valuation Unobservable Input (1) Range Weighted Average (2) Pharmaceuticals $ 947,065 Market Comparable Companies Hypothetical Market Yield 8.42% - 16.19% 12.03% Premium/(Discount) (2.50%) - 3.00% 0.13% 55,344 Liquidation (3) Probability weighting of alternative outcomes 20.00% - 80.00% 75.53% Technology 1,365,943 Market Comparable Companies Hypothetical Market Yield 10.21% - 20.58% 13.10% Premium/(Discount) (0.75%) - 4.50% 0.20% 26,869 Convertible Note Analysis Probability weighting of alternative outcomes 1.00% - 70.00% 50.66% 51,004 Liquidation (3) Probability weighting of alternative outcomes 22.00% - 78.00% 66.34% Sustainable and Renewable Technology 21,102 Market Comparable Companies Hypothetical Market Yield 12.41% - 15.44% 15.25% Premium/(Discount) 0.25% - 3.50% 0.45% Medical Devices 59,645 Market Comparable Companies Hypothetical Market Yield 11.79% - 12.75% 12.24% Premium/(Discount) 0.00% - 0.50% 0.26% Lower Middle Market 636,258 Market Comparable Companies Hypothetical Market Yield 10.27% - 21.00% 14.12% Premium/(Discount) (0.25%) - 5.00% 1.07% Debt Investments for which Cost Approximates Fair Value 242,833 Debt Investments originated within 6 months 4,141 Imminent Payoffs (4) 36,185 Debt Investments Maturing in Less than One Year 48,212 Debt Investments in Wholly-Owned Subsidiaries $ 3,494,601 Total Level 3 Debt Investments Accounts Payable and Accrued Liabilities (1,012) Liquidation (3) Probability weighting of alternative outcomes 20.00% - 50.00% 38.44% $ 3,493,589 Total Level Three Debt Investments and Other Investment Receivables (Payables) (1) The significant unobservable inputs used in the fair value measurement of the Company’s debt securities are hypothetical market yields and premiums/(discounts). The hypothetical market yield is defined as the exit price of an investment in a hypothetical market to hypothetical market participants where buyers and sellers are willing participants. The premiums/(discounts) relate to company specific characteristics such as underlying investment performance, security liens, and other characteristics of the investment. Significant increases (decreases) in the inputs in isolation may result in a significantly lower (higher) fair value measurement, depending on the materiality of the investment. Debt investments in the industries noted in the Company’s Consolidated Schedule of Investments are included in the industries noted above as follows: • Pharmaceuticals, above, is comprised of debt investments in the “Drug Discovery & Development” and “Healthcare Services, Other” industries. • Technology, above, is comprised of debt investments in the “Communications & Networking”, “Information Services”, “Consumer & Business Services”, “Media/Content/Info”, “Space Technologies”, and “Software” industries. • Sustainable and Renewable Technology, above, is comprised of debt investments in the “Sustainable and Renewable Technology” industry. • Medical Devices, above, is comprised of debt investments in the “Medical Devices & Equipment” industry. • Lower Middle Market, above, is comprised of debt investments in the “Healthcare Services – Other”, “Consumer & Business Services”, “Diversified Financial Services”, “Sustainable and Renewable Technology”, and “Software” industries. (2) The weighted averages are calculated based on the fair market value of each investment. (3) The significant unobservable input used in the fair value measurement of impaired debt securities and other investment receivables (payables) is the probability weighting of alternative outcomes. (4) Imminent Payoffs represent debt investments that the Company expects to be fully repaid within the next three months, prior to their scheduled maturity date. Investment Type - Level 3 Fair Value as of Valuation Techniques/Methodologies Unobservable Input (1) Range Weighted Average (2) Pharmaceuticals $ 971,775 Market Comparable Companies Hypothetical Market Yield 10.91% - 21.43% 13.46% Premium/(Discount) (1.00%) - 3.50% 0.04% 8,455 Liquidation (3) Probability weighting of alternative outcomes 10.00% - 50.00% 41.83% Technology 1,181,823 Market Comparable Companies Hypothetical Market Yield 11.30% - 20.74% 15.03% Premium/(Discount) (1.00%) - 5.00% 0.47% 23,244 Convertible Note Analysis Probability weighting of alternative outcomes 1.00% - 50.00% 39.32% — Liquidation (3) Probability weighting of alternative outcomes 100.00% - 100.00% 100.00% Sustainable and Renewable Technology 1,678 Market Comparable Companies Hypothetical Market Yield 10.75% - 10.75% 10.75% Premium/(Discount) 0.75% - 0.75% 0.75% Lower Middle Market 322,162 Market Comparable Companies Hypothetical Market Yield 12.54% - 20.15% 14.13% Premium/(Discount) (0.75%) - 2.25% 0.56% Debt Investments for which Cost Approximates Fair Value 431,512 Debt Investments originated within 6 months 54,430 Imminent Payoffs (4) 62,220 Debt Investments Maturing in Less than One Year $ 3,057,299 Total Level 3 Debt Investments Other Investment Receivables 9,648 Liquidation (3) Probability weighting of alternative outcomes 10.00% - 50.00% 41.83% $ 3,066,947 Total Level Three Debt Investments and Other Investment Receivables (1) The significant unobservable inputs used in the fair value measurement of the Company’s debt securities are hypothetical market yields and premiums/(discounts). The hypothetical market yield is defined as the exit price of an investment in a hypothetical market to hypothetical market participants where buyers and sellers are willing participants. The premiums/(discounts) relate to company specific characteristics such as underlying investment performance, security liens, and other characteristics of the investment. Significant increases (decreases) in the inputs in isolation may result in a significantly lower (higher) fair value measurement, depending on the materiality of the investment. Debt investments in the industries noted in the Company’s Consolidated Schedule of Investments are included in the industries noted above as follows: • Pharmaceuticals, above, is comprised of debt investments in the “Drug Discovery & Development” and “Healthcare Services, Other” industries. • Technology, above, is comprised of debt investments in the “Communications & Networking”, “Information Services”, “Consumer & Business Services”, “Media/Content/Info” and “Software” industries. • Sustainable and Renewable Technology, above, is comprised of debt investments in the “Sustainable and Renewable Technology” industry. • Lower Middle Market, above, is comprised of debt investments in the “Healthcare Services – Other”, “Consumer & Business Services”, “Diversified Financial Services”, “Sustainable and Renewable Technology”, and “Software” industries. (2) The weighted averages are calculated based on the fair market value of each investment. (3) The significant unobservable input used in the fair value measurement of impaired debt securities and other investment receivables is the probability weighting of alternative outcomes. (4) Imminent payoffs represent debt investments that the Company expects to be fully repaid within the next three months, prior to their scheduled maturity date. Investment Type - Level 3 Equity and Warrant Investments Fair Value as of Valuation Techniques/ Unobservable Input (1) Range Weighted Average (5) Equity Investments $ 45,420 Market Comparable Companies Revenue Multiple (2) 0.4x - 16.8x 9.1x Tangible Book Value Multiple (2) 1.7x - 1.7x 1.7x Discount for Lack of Marketability (3) 17.64% - 92.80% 36.12% 12,374 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (96.57%) - 24.76% (17.57%) 34,677 Discounted Cash Flow Discount Rate (7) 12.17% - 33.34% 30.21% 5,924 Other (6) Warrant Investments 18,302 Market Comparable Companies Revenue Multiple (2) 0.8x - 14.1x 4.5x Discount for Lack of Marketability (3) 14.72% - 34.35% 26.76% 3,521 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (56.36%) - 24.76% 1.33% Total Level 3 Equity and $ 120,218 (1) The significant unobservable inputs used in the fair value measurement of the Company’s warrant and equity securities are revenue and/or earnings multiples (e.g. EBITDA, EBT, ARR), market equity adjustment factors, and discounts for lack of marketability. Significant increases/(decreases) in the inputs in isolation would result in a significantly higher/(lower) fair value measurement, depending on the materiality of the investment. For some investments, additional consideration may be given to data from the last round of financing or merger/acquisition events near the measurement date. The significant unobservable input used in the fair value measurement of impaired equity securities is the probability weighting of alternative outcomes. (2) Represents amounts used when the Company has determined that market participants would use such multiples when pricing the investments. (3) Represents amounts used when the Company has determined market participants would take into account these discounts when pricing the investments. (4) Represents the range of changes in industry valuations since the portfolio company's last external valuation event. (5) Weighted averages are calculated based on the fair market value of each investment. (6) The fair market value of these investments is derived based on recent private market and merger and acquisition transaction prices. (7) The discount rate used is based on current portfolio yield adjusted for uncertainty of actual performance and timing in capital deployments. Investment Type - Level 3 Equity and Warrant Investments Fair Value as of Valuation Techniques/ Unobservable Input (1) Range Weighted Average (5) Equity Investments $ 52,094 Market Comparable Companies EBITDA Multiple (2) 12.3x - 12.3x 12.3x Revenue Multiple (2) 0.3x - 20.1x 7.2x Tangible Book Value Multiple (2) 1.8x - 1.8x 1.8x Discount for Lack of Marketability (3) 7.11% - 92.72% 31.57% 11,096 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (86.14%) - 32.69% 7.47% 28,713 Discounted Cash Flow Discount Rate (7) 19.88% - 31.97% 30.51% 2,925 Other (6) Warrant Investments 19,014 Market Comparable Companies EBITDA Multiple (2) 12.3x - 12.3x 12.3x Revenue Multiple (2) 0.9x - 10.2x 4.2x Discount for Lack of Marketability (3) 6.21% - 33.12% 21.70% 3,074 Market Adjusted OPM Backsolve Market Equity Adjustment (4) (70.67%) - 34.86% 13.17% — Other (6) Total Level 3 Equity and Warrant Investments $ 116,916 (1) The significant unobservable inputs used in the fair value measurement of the Company’s warrant and equity securities are revenue and/or earnings multiples (e.g. EBITDA, EBT, ARR), market equity adjustment factors, and discounts for lack of marketability. Significant increases/ (decreases) in the inputs in isolation would result in a significantly higher/(lower) fair value measurement, depending on the materiality of the investment. For some investments, additional consideration may be given to data from the last round of financing or merger/acquisition events near the measurement date. The significant unobservable input used in the fair value measurement of impaired equity securities is the probability weighting of alternative outcomes. (2) Represents amounts used when the Company has determined that market participants would use such multiples when pricing the investments. (3) Represents amounts used when the Company has determined market participants would take into account these discounts when pricing the investments. (4) Represents the range of changes in industry valuations since the portfolio company's last external valuation event. (5) Weighted averages are calculated based on the fair market value of each investment. (6) The fair market value of these investments is derived based on recent market transactions. (7) The discount rate used is based on current portfolio yield adjusted for uncertainty of actual performance and timing in capital deployments.
Schedule of Fair Value Hierarchy of Outstanding Borrowings	The following tables provide additional information about the approximate fair value and level in the fair value hierarchy of the Company’s outstanding borrowings as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 Description Carrying Approximate Identical Assets Observable Inputs Unobservable Inputs SBA Debentures $ 271,371 $ 260,436 $ — $ — $ 260,436 February 2025 Notes 49,981 50,698 — — 50,698 June 2025 Notes 69,919 69,308 — — 69,308 June 2025 3-Year Notes 49,926 49,713 — — 49,713 March 2026 A Notes 49,889 49,052 — — 49,052 March 2026 B Notes 49,880 49,087 — — 49,087 September 2026 Notes 323,321 302,244 — — 302,244 January 2027 Notes 347,265 327,928 — — 327,928 2031 Asset-Backed Notes 118,769 115,031 — 115,031 — 2033 Notes 39,043 40,272 — 40,272 — MUFG Bank Facility 116,000 116,000 — — 116,000 SMBC Facility 283,591 283,591 — — 283,591 Total $ 1,768,955 $ 1,713,360 $ — $ 155,303 $ 1,558,057 (in thousands) December 31, 2023 Description Carrying Approximate Identical Assets Observable Inputs Unobservable Inputs SBA Debentures $ 170,323 $ 142,011 $ — $ — $ 142,011 July 2024 Notes 104,828 105,755 — — 105,755 February 2025 Notes 49,866 49,144 — — 49,144 June 2025 Notes 69,757 67,198 — — 67,198 June 2025 3-Year Notes 49,771 48,983 — — 48,983 March 2026 A Notes 49,795 47,702 — — 47,702 March 2026 B Notes 49,776 47,759 — — 47,759 September 2026 Notes 322,339 288,711 — — 288,711 January 2027 Notes 345,935 315,832 — — 315,832 2031 Asset-Backed Notes 148,544 142,500 — 142,500 — 2033 Notes 38,935 40,400 — 40,400 — MUFG Bank Facility 61,000 61,000 — — 61,000 SMBC Facility 94,000 94,000 — — 94,000 Total $ 1,554,869 $ 1,450,995 $ — $ 182,900 $ 1,268,095

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Schedule of Investments [Abstract]
Schedule of Investments in and Advances to Affiliates	The following table summarizes the Company’s realized gains and losses and changes in unrealized appreciation and depreciation on control and affiliate investments for the years ended December 31, 2024, 2023, and 2022. (in thousands) For the Year Ended December 31, 2024 Portfolio Company (1) Type Fair Value as of Interest & Dividend Income Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 69 $ — $ — $ (193) $ — Gibraltar Acquisition LLC (3) Control 59,263 5,301 146 (4,983) — Hercules Adviser LLC (4) Control 42,190 7,410 — 1,477 — Tectura Corporation Control 11,657 692 — 140 — Total Control Investments $ 113,179 $ 13,403 $ 146 $ (3,559) $ — (in thousands) For the Year Ended December 31, 2023 Portfolio Company (1) Type Fair Value as of Interest Income Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 262 $ — $ — $ (57) $ — Gibraltar Acquisition LLC (3) Control 62,512 3,344 95 9,656 — Hercules Adviser LLC (4) Control 40,713 608 — 9,560 — Tectura Corporation Control 11,517 690 — 3,475 — Total Control Investments $ 115,004 $ 4,642 $ 95 $ 22,634 $ — (in thousands) For the Year Ended December 31, 2022 Portfolio Company (1) Type Fair Value as of Interest Fee Income Net Change in Unrealized Appreciation (Depreciation) Realized Gain (Loss) Control Investments Coronado Aesthetics, LLC Control $ 319 $ — $ — $ (246) $ — Gibraltar Business Capital, LLC Control 36,944 3,385 68 (6,968) — Hercules Adviser LLC Control 31,153 546 — 7,163 — Tectura Corporation Control 8,042 690 — (227) — Total Control Investments $ 76,458 $ 4,621 $ 68 $ (278) $ — Affiliate Investments Black Crow AI, Inc. (2) Affiliate $ — $ — $ — $ (120) $ 3,772 Pineapple Energy LLC (2) Affiliate — 1,204 — 4,209 (2,014) Total Affiliate Investments $ — $ 1,204 $ — $ 4,089 $ 1,758 Total Control & Affiliate Investments $ 76,458 $ 5,825 $ 68 $ 3,811 $ 1,758 (1) In accordance with Rules 3-09, 4-08(g), and Rule 10-01(b)(1) of Regulation S-X, (“Rule 3-09”, “Rule 4-08(g)”, and “Rule 10-01(b)(1)”, respectively), the Company must determine if its unconsolidated subsidiaries are considered “significant subsidiaries”. As of December 31, 2024, December 31, 2023, and December 31, 2022 there were no unconsolidated subsidiaries that are considered “significant subsidiaries”. (2) As of September 30, 2022, Black Crow AI, Inc. and Pineapple Energy LLC were no longer affiliates as defined under the 1940 Act. (3) Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC, respectively. (4) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1” for additional disclosure .
Schedule of Investments Portfolio	The following table shows the fair value of the Company’s portfolio of investments by asset class as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Senior Secured Debt $ 3,419,044 93.4 % $ 2,987,577 92.0 % Unsecured Debt 75,557 2.1 % 69,722 2.2 % Preferred Stock 53,802 1.5 % 53,038 1.6 % Common Stock 74,855 2.0 % 99,132 3.1 % Warrants 30,500 0.8 % 33,969 1.0 % Investment Funds & Vehicles 6,220 0.2 % 4,608 0.1 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % A summary of the Company’s investment portfolio, at value, by geographic location as of December 31, 2024 and December 31, 2023 is shown as follows: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of United States $ 3,288,737 89.9 % $ 2,861,615 88.1 % United Kingdom 142,183 3.9 % 222,136 6.9 % Israel 88,066 2.4 % 52,868 1.6 % Netherlands 59,157 1.6 % 89,995 2.8 % Germany 49,255 1.3 % 1,144 0.0 % Canada 16,251 0.4 % 15,730 0.5 % Denmark 9,284 0.3 % 4,173 0.1 % Ireland 4,649 0.1 % — 0.0 % Singapore 1,996 0.1 % — 0.0 % Other 400 0.0 % 385 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % The following table shows the fair value of the Company’s portfolio by industry sector as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Software $ 1,081,100 29.5 % $ 764,985 23.6 % Drug Discovery & Development 1,080,390 29.5 % 1,257,699 38.7 % Healthcare Services, Other 610,184 16.7 % 300,079 9.3 % Consumer & Business Services 372,641 10.2 % 525,973 16.2 % Electronics & Computer Hardware 162,888 4.5 % 20,324 0.6 % Diversified Financial Services 113,491 3.1 % 114,722 3.5 % Medical Devices & Equipment 74,962 2.0 % 22,096 0.7 % Space Technologies 45,700 1.2 % — 0.0 % Biotechnology Tools 35,434 1.0 % 48,381 1.5 % Communications & Networking 27,700 0.8 % 29,400 0.9 % Sustainable and Renewable Technology 27,696 0.8 % 9,581 0.3 % Information Services 24,356 0.7 % 126,605 3.9 % Consumer & Business Products 1,497 0.0 % 2,589 0.1 % Manufacturing Technology 1,162 0.0 % 11,006 0.3 % Semiconductors 704 0.0 % 1,205 0.0 % Media/Content/Info 63 0.0 % 12,704 0.4 % Drug Delivery 10 0.0 % 21 0.0 % Surgical Devices — 0.0 % 676 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % December 31, 2024 December 31, 2023 Description HC IV SBIC V HC IV SBIC V Number of investments held 33 11 25 — Fair value of investments (in millions) $ 377.7 $ 155.6 $ 331.5 $ — Percentage of fair value of investments based on the Company's total investment portfolio 10.3 % 4.3 % 10.2 % 0.0 % Tangible assets (in millions) $ 382.9 $ 157.8 $ 341.8 $ — Percentage of tangible assets based on the Company's total assets 10.0 % 4.1 % 10.0 % 0.0 %
Schedule of Investment Collateral	The Company's investments were collateralized as follows as of December 31, 2024 and December 31, 2023: Percentage of debt investments (at fair value), as of December 31, 2024 December 31, 2023 Senior Secured First Lien All assets including intellectual property 67.1 % 52.3 % All assets with negative pledge on intellectual property 14.2 % 24.0 % “Last-out” with security interest in all of the assets 9.7 % 12.5 % Total senior secured first lien position 91.0 % 88.8 % Second lien 6.8 % 8.9 % Unsecured 2.2 % 2.3 % Total debt investments at fair value 100.0 % 100.0 %
Schedule of Fair Value and Location of the Company's Derivative Instruments	The following is a summary of the fair value and location of the Company’s derivative instruments in the Consolidated Statements of Assets and Liabilities held as of December 31, 2024 and December 31, 2023: (in thousands) Fair Value Derivative Instrument Statement Location December 31, 2024 December 31, 2023 Foreign currency forward contract Other assets $ 538 $ — Foreign currency forward contract Accounts payable and accrued liabilities — 766 Total $ 538 $ 766
Schedule of Net Realized and Unrealized Gains and Losses	Net realized and unrealized gains and losses on derivative instruments recorded by the Company during the years ended December 31, 2024 and December 31, 2023 are in the following locations in the Consolidated Statements of Operations: (in thousands) Year Ended December 31, Derivative Instrument Statement Location 2024 2023 Foreign currency forward contract Net realized gain (loss) - Non-control / Non-affiliate investments $ (849) $ — Foreign currency forward contract Net change in unrealized appreciation (depreciation) - Non-control / Non-affiliate investments 1,305 (766) Total $ 456 $ (766)
Schedule of Investment Interest Income and Fee Income	The Company’s investment portfolio generates interest, fee, and dividend income. The composition of the Company’s interest income and fee income is as follows: (in thousands) Year Ended December 31, 2024 2023 2022 Contractual interest income $ 355,470 $ 351,883 $ 249,375 Exit fee interest income 44,448 45,747 32,063 PIK interest income 51,270 24,670 20,455 Dividend income 7,900 1,400 — Other investment income (1) 8,107 10,725 5,365 Total interest and dividend income $ 467,195 $ 434,425 $ 307,258 Recurring fee income $ 9,507 $ 8,835 $ 7,834 Fee income - expired commitments 2,442 1,695 1,502 Accelerated fee income - early repayments 14,447 15,713 5,094 Total fee income $ 26,396 $ 26,243 $ 14,430 (1) Other investment income includes OID interest income and interest recorded on other assets.
Schedule of Unamortized Capitalized Fee Income	As of December 31, 2024 and 2023, unamortized capitalized fee income was recorded as follows: (in millions) As of December 31, 2024 2023 Offset against debt investment cost $ 36.9 $ 32.9 Deferred obligation contingent on funding or other milestone 9.1 9.4 Total Unamortized Fee Income $ 46.0 $ 42.3
Schedule of Loan Exit Fees Receivable	As of December 31, 2024 and 2023, loan exit fees receivable were recorded as follows: (in millions) As of December 31, 2024 2023 Included within debt investment cost $ 39.2 $ 35.9 Deferred receivable related to expired commitments 3.0 4.3 Total Exit Fees Receivable $ 42.2 $ 40.2

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt Information	As of December 31, 2024 and December 31, 2023, the Company had the following available and outstanding debt: (in thousands) December 31, 2024 December 31, 2023 Total Available Principal Carrying Value (1) Total Available Principal Carrying Value (1) SBA Debentures (2)(4) $ 350,000 $ 279,000 $ 271,371 $ 175,000 $ 175,000 $ 170,323 July 2024 Notes — — — 105,000 105,000 104,828 February 2025 Notes 50,000 50,000 49,981 50,000 50,000 49,866 June 2025 Notes 70,000 70,000 69,919 70,000 70,000 69,757 June 2025 3-Year Notes 50,000 50,000 49,926 50,000 50,000 49,771 March 2026 A Notes 50,000 50,000 49,889 50,000 50,000 49,795 March 2026 B Notes 50,000 50,000 49,880 50,000 50,000 49,776 September 2026 Notes 325,000 325,000 323,321 325,000 325,000 322,339 January 2027 Notes 350,000 350,000 347,265 350,000 350,000 345,935 2031 Asset-Backed Notes 119,475 119,475 118,769 150,000 150,000 148,544 2033 Notes 40,000 40,000 39,043 40,000 40,000 38,935 MUFG Bank Facility (2) 400,000 116,000 116,000 400,000 61,000 61,000 SMBC Facility (2)(3)(5) 475,000 283,790 283,591 400,000 94,000 94,000 Total $ 2,329,475 $ 1,783,265 $ 1,768,955 $ 2,215,000 $ 1,570,000 $ 1,554,869 (1) Except for the SMBC Facility and MUFG Bank Facility, all carrying values represent the principal amount outstanding less the remaining unamortized debt issuance costs and unaccreted premium or discount, if any, associated with the debt as of the balance sheet date. (2) Availability subject to the Company meeting the borrowing base requirements. (3) “Total Available” includes $175.0 million of available commitment through the letter of credit facility as of December 31, 2024 and December 31, 2023. (4) As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV. (5) In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively. The overall weighted average interest cost, cost of debt and debt outstanding for the Company for the years ended December 31, 2024 and 2023 were as follows: Year Ended December 31, (in thousands) 2024 2023 Weighted average interest cost 4.5 % 4.2 % Weighted average cost of debt (1) 5.0 % 4.8 % Weighted average debt outstanding 1,709,469 1,607,278 (1) Cost of debt includes interest and fees. The Company held the following SBA debentures outstanding principal balances as of December 31, 2024 and December 31, 2023: (in thousands) Issuance/Pooling Date Maturity Date Interest Rate (1) December 31, 2024 December 31, 2023 March 26, 2021 September 1, 2031 1.58% $ 37,500 $ 37,500 June 25, 2021 September 1, 2031 1.58% 16,200 16,200 July 28, 2021 September 1, 2031 1.58% 5,400 5,400 August 20, 2021 September 1, 2031 1.58% 5,400 5,400 October 21, 2021 March 1, 2032 3.21% 14,000 14,000 November 1, 2021 March 1, 2032 3.21% 21,000 21,000 November 15, 2021 March 1, 2032 3.21% 5,200 5,200 November 30, 2021 March 1, 2032 3.21% 20,800 20,800 December 20, 2021 March 1, 2032 3.21% 10,000 10,000 December 23, 2021 March 1, 2032 3.21% 10,000 10,000 December 28, 2021 March 1, 2032 3.21% 5,000 5,000 January 14, 2022 March 1, 2032 3.21% 4,500 4,500 January 21, 2022 March 1, 2032 3.21% 20,000 20,000 November 8, 2024 (2) March 1, 2035 5.16% 30,000 — December 6, 2024 (2) March 1, 2035 5.12% 33,600 — December 12, 2024 (2) March 1, 2035 5.05% 8,400 — December 20, 2024 (2) March 1, 2035 5.01% 32,000 — Total SBA Debentures $ 279,000 $ 175,000 (1) Interest rates are determined initially at issuance and reset to a fixed rate at the debentures pooling date. The rates are inclusive of annual SBA charges. (2) As of December 31, 2024, $104.0 million of drawn SBA Debentures are scheduled to be pooled on March 26, 2025. The interest rate disclosed is the current effective interim interest rate.
Schedule of Debt Issuance Costs, Net of Accumulated Amortization	Debt issuance costs, net of accumulated amortization, were as follows as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 SBA Debentures $ 7,629 $ 4,677 July 2024 Notes — 172 February 2025 Notes 19 134 June 2025 Notes 81 243 June 2025 3-Year Notes 74 229 March 2026 A Notes 111 205 March 2026 B Notes 120 224 September 2026 Notes 1,679 2,661 January 2027 Notes 2,735 4,065 2031 Asset-Backed Notes 706 1,456 2033 Notes 957 1,065 MUFG Bank Facility (1) 1,770 3,540 SMBC Facility (1)(2) 2,693 1,775 Total $ 18,574 $ 20,446 (1) The MUFG Bank Facility and SMBC Facility are line-of-credit arrangements, the debt issuance costs associated with these instruments are included within Other assets on the Consolidated Statements of Assets and Liabilities in accordance with ASC Subtopic 835-30. (2) As part of the November 2024 amendment of the SMBC Facility, the existing revolver facility was split into a revolver facility and a term loan facility. The debt issuance costs, net of accumulated amortization of the revolver facility is $2.5 million and the term loan is $0.2 million.
Schedules of Components of Interest Expense, Related Fees, Losses on Debt Extinguishment and Cash Paid for Interest Expense for Debt	For the year ended December 31, 2024, the components of interest expense, related fees, losses on debt extinguishment and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2024 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 4,993 $ 621 $ — $ 5,614 $ 4,575 July 2024 Notes 2,706 172 — 2,878 5,008 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,016 June 2025 3-Year Notes 3,000 155 — 3,155 3,000 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,276 September 2026 Notes 8,697 815 — 9,512 8,531 January 2027 Notes 12,316 828 — 13,144 11,812 2031 Asset-Backed Notes (2) 7,464 394 — 7,858 7,321 2033 Notes 2,500 108 — 2,608 2,500 MUFG Bank Facility 11,931 1,770 1,949 15,650 11,866 SMBC Facility 13,862 735 785 15,382 13,555 Total $ 77,151 $ 6,073 $ 2,734 $ 85,958 $ 77,850 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2024, of $166 thousand, $503 thousand, and $185 thousand related to the September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) During the year ended December 31, 2024, we have recognized $171 thousand of loss on debt extinguishment for 2031 Asset-Backed Notes. For the year ended December 31, 2023, the components of interest expense, related fees, and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2023 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 4,562 $ 585 $ — $ 5,147 $ 4,562 July 2024 Notes 5,009 295 — 5,304 5,009 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,017 June 2025 3-Year Notes 3,000 155 — 3,155 3,000 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,276 September 2026 Notes 8,697 815 — 9,512 8,532 January 2027 Notes 12,316 828 — 13,144 11,812 2031 Asset-Backed Notes 7,613 399 — 8,012 7,425 2033 Notes 2,500 108 — 2,608 2,500 MUFG Bank Facility (2) 5,583 1,770 2,782 10,135 5,948 SMBC Facility 8,658 693 940 10,291 8,678 Total $ 67,620 $ 6,123 $ 3,722 $ 77,465 $ 67,149 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2023, of $166 thousand, $503 thousand, $188 thousand related to the September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) The June 2022 amendment of the MUFG Bank Facility replaced Union Bank Facility via an amendment as the lead lender. For the year ended December 31, 2022, the components of interest expense, related fees, and cash paid for interest expense for debt were as follows: (in thousands) Year ended December 31, 2022 Description Interest expense (1) Amortization of debt issuance cost (loan fees) Unused facility and other fees (loan fees) Total interest expense and fees Cash paid for interest expense SBA Debentures $ 3,997 $ 581 $ — $ 4,578 $ 2,835 2022 Notes (3) 1,011 50 — 1,061 2,293 July 2024 Notes 5,009 295 — 5,304 5,009 February 2025 Notes 2,140 115 — 2,255 2,140 June 2025 Notes 3,017 162 — 3,179 3,017 June 2025 3-Year Notes 1,567 81 — 1,648 1,500 March 2026 A Notes 2,250 95 — 2,345 2,250 March 2026 B Notes 2,275 103 — 2,378 2,275 September 2026 Notes 8,698 815 — 9,513 8,531 January 2027 Notes 11,630 782 — 12,412 5,906 2031 Asset-Backed Notes 3,975 209 — 4,184 3,671 2033 Notes 2,500 108 — 2,608 2,500 2022 Convertible Notes (3) 923 148 — 1,071 5,004 MUFG Bank Facility (2) 4,548 941 2,285 7,774 4,097 SMBC Facility 1,209 315 513 2,037 1,047 Total $ 54,749 $ 4,800 $ 2,798 $ 62,347 $ 52,075 (1) Interest expense includes amortization of original issue discounts for the year ended December 31, 2022, of $23 thousand, $112 thousand, $166 thousand, $475 thousand, and $98 thousand for the 2022 Notes, 2022 Convertible Notes, September 2026 Notes, January 2027 Notes, and 2031 Asset-Backed Notes, respectively. (2) The June 2022 amendment of the MUFG Bank Facility replaced Union Bank Facility via an amendment as the lead lender. (3) The Company fully redeemed the 2022 Notes on February 22, 2022 and fully repaid the 2022 Convertible Notes on February 1, 2022.
Summary of SBIC Investments	The following table shows the fair value of the Company’s portfolio of investments by asset class as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Senior Secured Debt $ 3,419,044 93.4 % $ 2,987,577 92.0 % Unsecured Debt 75,557 2.1 % 69,722 2.2 % Preferred Stock 53,802 1.5 % 53,038 1.6 % Common Stock 74,855 2.0 % 99,132 3.1 % Warrants 30,500 0.8 % 33,969 1.0 % Investment Funds & Vehicles 6,220 0.2 % 4,608 0.1 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % A summary of the Company’s investment portfolio, at value, by geographic location as of December 31, 2024 and December 31, 2023 is shown as follows: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of United States $ 3,288,737 89.9 % $ 2,861,615 88.1 % United Kingdom 142,183 3.9 % 222,136 6.9 % Israel 88,066 2.4 % 52,868 1.6 % Netherlands 59,157 1.6 % 89,995 2.8 % Germany 49,255 1.3 % 1,144 0.0 % Canada 16,251 0.4 % 15,730 0.5 % Denmark 9,284 0.3 % 4,173 0.1 % Ireland 4,649 0.1 % — 0.0 % Singapore 1,996 0.1 % — 0.0 % Other 400 0.0 % 385 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % The following table shows the fair value of the Company’s portfolio by industry sector as of December 31, 2024 and December 31, 2023: (in thousands) December 31, 2024 December 31, 2023 Investments at Percentage of Investments at Percentage of Software $ 1,081,100 29.5 % $ 764,985 23.6 % Drug Discovery & Development 1,080,390 29.5 % 1,257,699 38.7 % Healthcare Services, Other 610,184 16.7 % 300,079 9.3 % Consumer & Business Services 372,641 10.2 % 525,973 16.2 % Electronics & Computer Hardware 162,888 4.5 % 20,324 0.6 % Diversified Financial Services 113,491 3.1 % 114,722 3.5 % Medical Devices & Equipment 74,962 2.0 % 22,096 0.7 % Space Technologies 45,700 1.2 % — 0.0 % Biotechnology Tools 35,434 1.0 % 48,381 1.5 % Communications & Networking 27,700 0.8 % 29,400 0.9 % Sustainable and Renewable Technology 27,696 0.8 % 9,581 0.3 % Information Services 24,356 0.7 % 126,605 3.9 % Consumer & Business Products 1,497 0.0 % 2,589 0.1 % Manufacturing Technology 1,162 0.0 % 11,006 0.3 % Semiconductors 704 0.0 % 1,205 0.0 % Media/Content/Info 63 0.0 % 12,704 0.4 % Drug Delivery 10 0.0 % 21 0.0 % Surgical Devices — 0.0 % 676 0.0 % Total $ 3,659,978 100.0 % $ 3,248,046 100.0 % December 31, 2024 December 31, 2023 Description HC IV SBIC V HC IV SBIC V Number of investments held 33 11 25 — Fair value of investments (in millions) $ 377.7 $ 155.6 $ 331.5 $ — Percentage of fair value of investments based on the Company's total investment portfolio 10.3 % 4.3 % 10.2 % 0.0 % Tangible assets (in millions) $ 382.9 $ 157.8 $ 341.8 $ — Percentage of tangible assets based on the Company's total assets 10.0 % 4.1 % 10.0 % 0.0 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Reclassified Accumulated Realized Gain (loss) to Additional Paid-in Capital	During the years ended December 31, 2024, 2023 and 2022, the Company reclassified accumulated net realized gains (losses) to additional paid-in capital for book purposes primarily related to net realized gains from portfolio companies which are held in taxable subsidiaries and are not consolidated with the Company for income tax purposes, as follows: (in millions) Year Ended December 31, 2024 2023 2022 Reclassified accumulated net realized gains (losses) $ (1.3) $ 0.8 $ 3.0
Schedule of Undistributed Ordinary Income or Accumulated Realized Gains (Losses)	During the years ended December 31, 2024, 2023 and 2022, the Company reclassified amounts from undistributed ordinary income or accumulated realized gains (losses) to additional paid-in capital for book purposes, as follows: (in thousands) Year Ended December 31, 2024 2023 2022 Undistributed net investment income (distributions in excess of investment income) $ (25,064) $ (18,396) $ (8,784) Accumulated realized gains (losses) 23,249 39,317 (834) Additional paid-in capital $ 1,815 $ (20,921) $ 9,618
Schedule of Tax Character of Distributions Paid	The tax character of distributions paid are as follows for each of the years ended: (in millions) Year Ended December 31, 2024 2023 2022 Ordinary income $ 286.1 $ 275.5 $ 203.7 Long-term capital gains 23.4 — 43.1
Schedule of Components of Distributable Earnings on a Tax Basis	As of December 31, 2024, 2023 and 2022, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Consolidated Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the treatment of loan related yield enhancements. (in thousands) Year Ended December 31, 2024 2023 2022 Accumulated capital gains $ 11,137 $ (8,190) $ (3,102) Other temporary differences (25,107) (18,609) (20,100) Undistributed ordinary income 152,436 133,783 127,703 Unrealized appreciation (depreciation) (49,546) 33,029 (44,592) Components of distributable earnings $ 88,920 $ 140,013 $ 59,909
Schedule of Taxable Income And Taxable Net Realized Gains (Losses)	Taxable income and taxable net realized gains (losses) for the year ended December 31, 2024, 2023 and 2022 appears as follows: (in millions, except per share data) Year Ended December 31, 2024 2023 2022 Taxable Income $ 305.00 $ 283.00 $ 181.10 Taxable Income, Per Share $ 1.89 $ 1.96 $ 1.45 Taxable Net Realized Gains (Losses) $ 34.5 $ (8.2) $ (1.7) Taxable Net Realized Gains, Per Share $ 0.21 $ (0.06) $ (0.01) Weighted average shares outstanding 161.1 144.1 125.2
Schedule of Aggregate Unrealized Appreciation And Depreciation of Investment Over Federal Income Tax	The aggregate gross unrealized appreciation and depreciation of the Company's investment over cost for U.S. federal income tax purposes appears as follows: (in millions) Year Ended December 31, 2024 2023 2022 Aggregate Gross Unrealized Appreciation $ 108.4 $ 118.3 $ 72.2 Aggregate Gross Unrealized Depreciation 156.5 115.9 112.0 Net Unrealized Appreciation (Depreciation) over cost for U.S. federal income tax purposes (48.1) 2.4 (39.8) Aggregate cost of securities for U.S. federal income tax purposes (in billions) 3.7 3.2 3.0

Stockholders' Equity and Dist_2

Stockholders' Equity and Distributions (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Common Stock Shares Issued and Sold	The Company issued and sold the following shares of common stock during the years ended December 31, 2024, 2023, and 2022: (in millions, except per share data) Year Ending December 31, Number of Shares Issued Gross Proceeds Underwriting Fees/Offering Expenses Net Proceeds Average Price/Share 2024 11.7 $ 220.9 $ 2.6 $ 218.3 $ 18.62 2023 (1) 22.7 $ 344.3 $ 6.1 $ 338.2 $ 14.88 2022 14.6 $ 232.1 $ 2.4 $ 229.7 $ 15.77 (1) Included in the activity, is 6.5 million shares of common stock sold through an upsized public offering on August 7, 2023 pursuant to an underwriting agreement with Morgan Stanley & Co. LLC, UBS Securities, and Wells Fargo Securities, LLC as joint book-running managers.
Schedule of Dividends Declared	The following table summarizes the Company’s distributions declared during the years ended December 31, 2024, 2023 and 2022: (in thousands, except per share data) Distribution Type Declared Date Record Date Payment Date Per Share Amount Total Amount Base February 16, 2022 March 9, 2022 March 16, 2022 $ 0.33 $ 39,794 Supplemental February 16, 2022 March 9, 2022 March 16, 2022 0.15 18,088 Base April 27, 2022 May 17, 2022 May 24, 2022 0.33 41,245 Supplemental April 27, 2022 May 17, 2022 May 24, 2022 0.15 18,748 Base July 20, 2022 August 9, 2022 August 16, 2022 0.35 44,765 Supplemental July 20, 2022 August 9, 2022 August 16, 2022 0.15 19,185 Base October 13, 2022 November 10, 2022 November 17, 2022 0.36 47,472 Supplemental October 13, 2022 November 10, 2022 November 17, 2022 0.15 19,780 Total distributions declared during the year ended December 31, 2022 $ 1.97 $ 249,077 Base February 9, 2023 March 2, 2023 March 9, 2023 $ 0.39 $ 53,749 Supplemental February 9, 2023 March 2, 2023 March 9, 2023 0.08 11,025 Base April 27, 2023 May 16, 2023 May 23, 2023 0.39 55,910 Supplemental April 27, 2023 May 16, 2023 May 23, 2023 0.08 11,469 Base July 28, 2023 August 18, 2023 August 25, 2023 0.40 60,445 Supplemental July 28, 2023 August 18, 2023 August 25, 2023 0.08 12,089 Base October 26, 2023 November 15, 2023 November 22, 2023 0.40 61,345 Supplemental October 26, 2023 November 15, 2023 November 22, 2023 0.08 12,269 Total distributions declared during the year ended December 31, 2023 $ 1.90 $ 278,301 Base February 8, 2024 February 28, 2024 March 6, 2024 $ 0.40 $ 63,359 Supplemental February 8, 2024 February 28, 2024 March 6, 2024 0.08 12,672 Base April 25, 2024 May 14, 2024 May 21, 2024 0.40 64,912 Supplemental April 25, 2024 May 14, 2024 May 21, 2024 0.08 12,982 Base July 25, 2024 August 13, 2024 August 20, 2024 0.40 64,953 Supplemental July 25, 2024 August 13, 2024 August 20, 2024 0.08 12,990 Base October 24, 2024 November 13, 2024 November 20, 2024 0.40 66,980 Supplemental October 24, 2024 November 13, 2024 November 20, 2024 0.08 13,396 Total distributions declared during the year ended December 31, 2024 $ 1.92 $ 312,244

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Unvested Restricted Stock Equity	The activities for the Company's unvested restricted stock equity awards for each of the three years ended December 31, 2024, 2023, and 2022 are summarized below: Year ended, December 31, 2024 2023 2022 Shares Weighted Average Grant Date Fair Value per Share Shares Weighted Average Grant Date Fair Value per Share Shares Weighted Average Grant Date Fair Value per Share Unvested Shares Beginning of Period 1,880,409 $ 14.52 958,985 $ 16.35 1,037,848 $ 14.51 Granted 1,055,861 $ 15.77 1,565,571 $ 14.07 632,831 $ 17.24 Vested (1) (813,183) $ 14.54 (632,575) $ 16.15 (686,030) $ 14.40 Forfeited (62,655) $ 12.96 (11,572) $ 15.42 (25,664) $ 16.00 Unvested Shares End of Period 2,060,432 $ 12.24 1,880,409 $ 14.52 958,985 $ 16.35 (1)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Shares used in the computation of the Company’s basic and diluted earnings per share are as follows: (in thousands, except per share data) Year Ended December 31, 2024 2023 2022 Numerator Net increase (decrease) in net assets resulting from operations $ 262,966 $ 337,484 $ 102,081 Less: Total distributions declared (312,244) (278,301) (249,077) Total Earnings (loss), net of total distributions (49,278) 59,183 (146,996) Earnings (loss), net of distributions attributable to common shares (49,278) 58,593 (146,995) Add: Distributions declared attributable to common shares 309,413 275,548 246,873 Numerator for basic and diluted change in net assets per common share $ 260,135 $ 334,141 $ 99,878 Denominator Basic weighted average common shares outstanding 161,082 144,091 125,189 Common shares issuable 517 735 1,470 Weighted average common shares outstanding assuming dilution 161,599 144,826 126,659 Change in net assets per common share: Basic $ 1.61 $ 2.32 $ 0.80 Diluted $ 1.61 $ 2.31 $ 0.79
Schedule of Number of Anti-diluted Shares As Calculated Based on Weighted Average Closing Price of Common Stock	For the years ended December 31, 2024, 2023 and 2022, the number of anti-dilutive shares, as calculated based on the weighted average closing price of the Company’s common stock for the periods, are as follows: Year Ended December 31, Anti-dilutive Securities 2024 2023 2022 Unvested common stock options 1,105 1,496 2,085 Restricted stock units — 4,357 — Unvested restricted stock awards 298 30,028 2,116

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2024
Investment Company, Financial Highlights [Abstract]
Schedule of Financial Highlights	Following is a schedule of financial highlights for the ten years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015: (in thousands, except per share data and ratios) Year Ended December 31, 2024 2023 2022 2021 2020 2019 (7) 2018 (7) 2017 (7) 2016 (7) 2015 (7) Per share data: (1) Net asset value at beginning of period $ 11.43 $ 10.53 $ 11.22 $ 11.26 $ 10.55 $ 9.90 $ 9.96 $ 9.90 $ 9.94 $ 10.18 Net investment income 2.02 2.11 1.50 1.29 1.39 1.41 1.20 1.17 1.36 1.06 Net realized gain (loss) (0.20) 0.06 (0.01) 0.18 (0.50) 0.16 (0.12) (0.32) 0.06 0.07 Net unrealized appreciation (depreciation) (0.19) 0.17 (0.68) 0.03 1.13 0.14 (0.23) 0.11 (0.49) (0.51) Total from investment operations 1.63 2.34 0.81 1.50 2.02 1.71 0.85 0.96 0.93 0.62 Net increase (decrease) in net assets from capital share transactions (1) 0.45 0.44 0.34 (0.08) 0.01 0.20 0.23 0.26 0.18 0.26 Distributions of net investment income (6) (1.79) (1.93) (1.63) (1.06) (1.03) (1.15) (1.26) (1.07) (1.14) (1.04) Distributions of capital gains (6) (0.15) — (0.36) (0.49) (0.36) (0.18) — (0.18) (0.11) (0.22) Stock-based compensation expense included in net investment income and other movements (2) 0.09 0.05 0.15 0.09 0.07 0.07 0.12 0.09 0.10 0.14 Net asset value at end of period $ 11.66 $ 11.43 $ 10.53 $ 11.22 $ 11.26 $ 10.55 $ 9.90 $ 9.96 $ 9.90 $ 9.94 Ratios and supplemental data: Per share market value at end of period $ 20.09 $ 16.67 $ 13.22 $ 16.59 $ 14.42 $ 14.02 $ 11.05 $ 13.12 $ 14.11 $ 12.19 Total return (3) 32.78 % 42.00 % (10.14) % 25.62 % 14.31 % 39.36 % (7.56) % 1.47 % 26.87 % (9.70) % Shares outstanding at end of period 170,575 157,758 133,045 116,619 114,726 107,364 96,501 84,424 79,555 72,118 Weighted average number of common shares outstanding 161,082 144,091 125,189 114,742 111,985 101,132 90,929 82,519 73,753 69,479 Net assets at end of period $ 1,989,581 $ 1,802,706 $ 1,401,459 $ 1,308,547 $ 1,291,704 $ 1,133,049 $ 955,444 $ 840,967 $ 787,944 $ 717,134 Ratio of total expense to average net assets (4) 9.01 % 9.92 % 9.92 % 9.86 % 11.30 % 11.95 % 10.73 % 11.37 % 11.25 % 11.55 % Ratio of net investment income before investment gains and losses to average net assets (4) 17.50 % 19.26 % 13.96 % 11.28 % 13.64 % 13.74 % 11.78 % 11.61 % 13.65 % 10.15 % Portfolio turnover rate (5) 27.33 % 31.95 % 19.29 % 51.58 % 32.38 % 31.30 % 38.76 % 49.03 % 36.22 % 46.34 % Weighted average debt outstanding $ 1,709,469 $ 1,607,278 $ 1,468,335 $ 1,248,177 $ 1,309,903 $ 1,177,379 $ 826,931 $ 784,455 $ 635,365 $ 615,198 Weighted average debt per common share $ 10.61 $ 11.15 $ 11.73 $ 10.88 $ 11.70 $ 11.64 $ 9.09 $ 9.51 $ 8.61 $ 8.85 (1) All per share activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date. (2) Adjusts for the impact of stock-based compensation expense, which is a non-cash expense and has no net impact to net asset value. Pursuant to ASC Topic 718, the expense is offset by a corresponding increase in paid-in capital. Additionally, adjusts for other items attributed to the difference between certain per share data based on the weighted-average basic shares outstanding and those calculated using the shares outstanding as of a period end or transaction date. (3) The total return for the years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015 equals to the change in the ending market value over the beginning of the period price per share plus distributions paid per share during the period, divided by the beginning price assuming the distribution is reinvested on the date of the distribution. As such, the total return is not annualized. The total return does not reflect any sales load that must be paid by investors. (4) The ratios are calculated based on weighted average net assets for the relevant period and are annualized. (5) The portfolio turnover rate for the years ended December 31, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015 equals to the lesser of investment portfolio purchases or sales during the period, divided by the average investment portfolio value during the period. As such, portfolio turnover rate is not annualized. (6) Includes distributions on unvested restricted stock awards. (7) Not covered by the Independent Registered Public Accounting Firm's report included in this Annual Report.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Unfunded Contractual Commitments and Unencumbered Unfunded Commitments	As of December 31, 2024 and December 31, 2023, the Company’s unfunded contractual commitments available at the request of the portfolio company, including undrawn revolving facilities, and unencumbered by milestones were as follows: (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 Debt Investments: Earnix, Inc. $ 41,250 $ — Arcus Biosciences, Inc. 37,500 — Thumbtack, Inc. 30,000 40,000 GoEuro Travel GmbH 26,250 — Armis, Inc. 25,000 — Marathon Health, LLC 24,250 — Disc Medicine, Inc. 22,500 — Pindrop Security, Inc. 19,375 — Coronet Cyber Security Ltd. 17,000 — Locus Robotics Corp. 16,250 — Akero Therapeutics, Inc. 15,000 15,000 Dragos, Inc. 13,000 13,000 Aryaka Networks, Inc. 12,500 — WellBe Senior Medical, LLC 12,000 — Harness, Inc. 11,550 — Alector, Inc. 10,500 — CoreView USA, Inc. 10,000 — Strive Health Holdings, LLC 8,299 — Suzy, Inc. 8,000 12,000 Heron Therapeutics, Inc. 8,000 4,000 Viridian Therapeutics, Inc. 8,000 — PayIt, LLC 8,000 — Curana Health Holdings, LLC 7,500 — ATAI Life Sciences N.V. 7,000 — Dashlane, Inc. 5,000 2,137 Babel Street 4,367 3,375 (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 AlphaSense, Inc. $ 4,000 $ — Saama Technologies, LLC 3,875 3,875 Allvue Systems, LLC 3,590 3,590 LogRhythm, Inc. 3,143 — Zappi, Inc. 2,571 2,571 Loftware, Inc. 2,277 2,277 Streamline Healthcare Solutions 2,200 2,200 New Relic, Inc. 2,176 2,176 Sumo Logic, Inc. 2,000 2,000 Ceros, Inc. 1,707 1,707 LogicSource 1,209 1,209 TaxCalc 1,166 — LinenMaster, LLC 1,000 1,000 3GTMS, LLC 886 1,182 Main Street Rural, Inc. 874 10,500 Fortified Health Security 840 840 Omeda Holdings, LLC 731 731 Flight Schedule Pro, LLC 646 639 DroneDeploy, Inc. 625 6,250 Dispatch Technologies, Inc. 563 625 ShadowDragon, LLC 333 333 Zimperium, Inc. 196 3,727 Automation Anywhere, Inc. — 29,400 Checkr Group, Inc. — 23,625 Skydio, Inc. — 22,500 Tarsus Pharmaceuticals, Inc. — 20,625 Kura Oncology, Inc. — 19,250 Tipalti Solutions Ltd. — 10,500 Next Insurance, Inc. — 10,000 Senseonics Holdings, Inc. — 8,750 Elation Health, Inc. — 7,500 Modern Life, Inc. — 6,500 Phathom Pharmaceuticals, Inc. — 6,120 Brain Corporation — 5,000 Leapwork ApS — 3,900 Riviera Partners LLC — 3,000 Cutover, Inc. — 2,650 Plentific Ltd — 2,625 Altumint, Inc. — 2,500 Yipit, LLC — 2,250 Annex Cloud — 1,750 ThreatConnect, Inc. — 1,600 Ikon Science Limited — 1,050 Agilence, Inc. — 800 Constructor.io Corporation — 625 Enmark Systems, Inc. — 457 Alchemer LLC — 445 Cybermaxx Intermediate Holdings, Inc. — 390 Cytracom Holdings LLC — 72 Total Unfunded Debt Commitments: 444,699 330,828 (in thousands) Unfunded Commitments (1) as of Portfolio Company December 31, 2024 December 31, 2023 Investment Funds & Vehicles (2) Forbion Growth Opportunities Fund II C.V. 2,072 2,748 Forbion Growth Opportunities Fund I C.V. 1,757 1,757 Total Unfunded Commitments in Investment Funds & Vehicles: 3,829 4,505 Total Unfunded Commitments $ 448,528 $ 335,333 (1) For debt investments, amounts represent unfunded commitments, including undrawn revolving facilities, which are available at the request of the portfolio company. Amount excludes unfunded commitments which are unavailable due to the borrower having not met certain milestones. These amounts also exclude $139.7 million and $127.7 million of unfunded commitments as of December 31, 2024, and December 31, 2023, respectively, to portfolio companies related to loans assigned to or directly committed by the Adviser Funds as described in “Note -13 Related Party Transactions”. (2) For investment funds and vehicles, the amount represents uncalled capital commitments in private equity funds. The following table provides additional information on the Company’s unencumbered unfunded commitments regarding milestones, expirations and type: (in thousands) December 31, 2024 December 31, 2023 Unfunded Debt Commitments: Expiring during: 2024 $ — $ 291,896 2025 251,941 3,004 2026 147,840 7,537 2027 10,553 14,078 2028 6,040 6,547 2029 24,149 3,590 2030 4,176 4,176 Total Unfunded Debt Commitments 444,699 330,828 Unfunded Commitments in Investment Funds & Vehicles: Expiring during: 2030 1,757 1,757 2032 2,072 2,748 Total Unfunded Commitments in Investment Funds & Vehicles 3,829 4,505 Total Unfunded Commitments $ 448,528 $ 335,333
Schedule of Contractual Obligations	The following tables provide the Company’s contractual obligations as of December 31, 2024 and December 31, 2023: As of December 31, 2024: Payments due by period (in thousands) Contractual Obligations (1) Total Less than 1 year 1 - 3 years 3 - 5 years After 5 years Debt (2)(3) $ 1,783,265 $ 170,000 $ 891,000 $ 283,790 $ 438,475 Lease and License Obligations (4) 23,976 3,246 6,640 5,589 8,501 Total $ 1,807,241 $ 173,246 $ 897,640 $ 289,379 $ 446,976 As of December 31, 2023: Payments due by period (in thousands) Contractual Obligations (1) Total Less than 1 year 1 - 3 years 3 - 5 years After 5 years Debt (5)(3) $ 1,570,000 $ 105,000 $ 689,000 $ 411,000 $ 365,000 Lease and License Obligations (4) 26,741 2,539 6,629 6,248 11,325 Total $ 1,596,741 $ 107,539 $ 695,629 $ 417,248 $ 376,325 (1) Excludes commitments to extend credit to the Company’s portfolio companies and uncalled capital commitments in investment funds. (2) Includes $279.0 million in principal outstanding under the SBA Debentures, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $119.5 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes, and $350.0 million of the January 2027 Notes as of December 31, 2024. There was also $283.8 million outstanding under the SMBC Facility and $116.0 million outstanding under the MUFG Bank Facility as of December 31, 2024. (3) Amounts represent future principal repayments and not the carrying value of each liability. See “Note 5 – Debt”. (4) Leases and license obligations includes contractual amounts related to short-term leases. (5) Includes $175.0 million in principal outstanding under the SBA Debentures, $105.0 million of the July 2024 Notes, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $150.0 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes and $350.0 million of the January 2027 Notes as of December 31, 2023. There was also $94.0 million outstanding under the SMBC Facility and $61.0 million outstanding under the MUFG Bank Facility as of December 31, 2023.
Summary of Information Related to Measurement of Operating Lease Liabilities and Supplemental Cash Flow Information Related to Operating Leases	The following table sets forth information related to the measurement of the Company’s operating lease liabilities and supplemental cash flow information related to operating leases as of December 31, 2024 and 2023: (in thousands) Year Ended December 31, 2024 Year Ended December 31, 2023 Total operating lease cost $ 2,873 $ 2,382 Cash paid for amounts included in the measurement of lease liabilities $ 1,865 $ 2,499 As of December 31, 2024 As of December 31, 2023 Weighted-average remaining lease term (in years) 7.81 8.68 Weighted-average discount rate 6.85 % 6.79 %
Schedule of Future Minimum Lease Payments under Operating Leases and Reconciliation to Operating Lease Liability	The following table shows future minimum lease payments under the Company’s operating leases and a reconciliation to the operating lease liability as of December 31, 2024: (in thousands) As of December 31, 2024 2025 $ 3,088 2026 3,179 2027 3,452 Thereafter 14,090 Total lease payments 23,809 Less: imputed interest & other items (5,615) Total operating lease liability $ 18,194

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarized the total income from the Adviser Subsidiary for the years ended December 31, 2024 and 2023: (in millions) Year Ended December 31, 2024 2023 Interest income $ 0.6 $ 0.6 Dividend income 6.8 1.4 (in millions) Year Ended December 31, 2024 2023 Investment commitments assigned to or directly committed by the Advisor Funds $ 562.1 $ 595.6 Investment fundings assigned to, directly originated or funded by the Advisor Funds 383.2 350.7 Amounts received by the Company from the Advisor Funds relating to assigned investments 6.0 12.1

Schedule 12-14s - CONSOLIDATED

Schedule 12-14s - CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2024
Investments in and Advances to Affiliates [Abstract]
Schedule of Investments in and Advances to Affiliates, Schedule of Investments	(in thousands) Portfolio Company Investment (1) Amount of Interest, Dividends and Fees Credited to Income (2) Realized Gain (Loss) Fair Value as of December 31, 2023 Gross Additions (3) Gross Reductions (4) Net Change in Unrealized Appreciation/ (Depreciation) Fair Value as of December 31, 2024 Control Investments Majority Owned Control Investments Coronado Aesthetics, LLC (8) Preferred Stock $ — $ — $ 260 $ — — $ (191) $ 69 Common Stock — — 2 — — (2) — Gibraltar Acquisition LLC (5) Unsecured Debt 5,447 — 34,478 1,734 — — 36,212 Member Units — — 28,034 — — (4,983) 23,051 Hercules Adviser LLC (6) Unsecured Debt 7,410 — 12,000 — — — 12,000 Member Units — — 28,713 — — 1,477 30,190 Total Majority Owned Control Investments $ 12,857 $ — $ 103,487 $ 1,734 $ — $ (3,699) $ 101,522 Other Control Investments Tectura Corporation (7) Senior Debt $ 692 $ — $ 8,250 $ — $ — $ (223) $ 8,027 Preferred Stock — — 3,263 — — 360 3,623 Common Stock — — 4 — — 3 7 Total Other Control Investments $ 692 $ — $ 11,517 $ — $ — $ 140 $ 11,657 Total Control Investments $ 13,549 $ — $ 115,004 $ 1,734 $ — $ (3,559) $ 113,179 (1) Stock and warrants are generally non-income producing and restricted. (2) Represents the total amount of interest, fees, or dividends credited to income for the period an investment was an affiliate or control investment. (3) Gross additions include increases in the cost basis of investments resulting from new portfolio investments, paid-in-kind interest or dividends, the amortization of discounts and closing fees and the exchange of one or more existing securities for one or more new securities. (4) Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include previously recognized depreciation on investments that become control or affiliate investments during the period. (5) As of March 31, 2018, the Company's investment in Gibraltar Acquisition LLC became classified as a control investment as a result of obtaining a controlling financial interest. Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC, respectively. (6) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1 - Description of Business” for additional disclosure. (7) As of March 31, 2017, the Company's investment in Tectura Corporation became classified as a control investment as of result of obtaining more than 50% representation on the portfolio company's board. In May 2018, the Company purchased common shares, thereby obtaining greater than 25% of voting securities of Tectura as of June 30, 2018. (8) As of December 31, 2021, the Company's investment in Coronado Aesthetics, LLC became classified as a control investment as a result of obtaining more than 25% of the voting securities of the portfolio company. CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES As of and for the year ended December 31, 2023 (in thousands) Portfolio Company Investment (1) Amount of Interest and Fees Credited to Income (2) Realized Gain (Loss) Fair Value as of December 31, 2022 Gross Additions (3) Gross Reductions (4) Net Change in Unrealized Appreciation/ (Depreciation) Fair Value as of December 31, 2023 Control Investments Majority Owned Control Investments Coronado Aesthetics, LLC (8) Preferred Stock $ — $ — $ 313 $ — $ — $ (53) $ 260 Common Stock — — 6 — — (4) 2 Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC) (5) Unsecured Debt 3,439 — 21,700 9,912 — 2,866 34,478 Member Units — — 15,244 6,000 — 6,790 28,034 Hercules Adviser LLC (6) Unsecured Debt 608 — 12,000 — — — 12,000 Member Units — — 19,153 — — 9,560 28,713 Total Majority Owned Control Investments $ 4,047 $ — $ 68,416 $ 15,912 $ — $ 19,159 $ 103,487 Other Control Investments Tectura Corporation (7) Senior Debt $ 690 $ — $ 8,042 $ — $ (13,263) $ 13,471 $ 8,250 Preferred Stock — — — 13,263 — (10,000) 3,263 Common Stock — — — — — 4 4 Total Other Control Investments $ 690 $ — $ 8,042 $ 13,263 $ (13,263) $ 3,475 $ 11,517 Total Control Investments $ 4,737 $ — $ 76,458 $ 29,175 $ (13,263) $ 22,634 $ 115,004 (1) Stock and warrants are generally non-income producing and restricted. (2) Represents the total amount of interest, fees, or dividends credited to income for the period an investment was an affiliate or control investment. (3) Gross additions include increases in the cost basis of investments resulting from new portfolio investments, paid-in-kind interest or dividends, the amortization of discounts and closing fees and the exchange of one or more existing securities for one or more new securities. (4) Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include previously recognized depreciation on investments that become control or affiliate investments during the period. (5) As of March 31, 2018, the Company's investment in Gibraltar Acquisition LLC (p.k.a. Gibraltar Business Capital, LLC) became classified as a control investment as a result of obtaining a controlling financial interest. Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC, respectively. (6) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1 - Description of Business” for additional disclosure. (7) As of March 31, 2017, the Company's investment in Tectura Corporation became classified as a control investment as of result of obtaining more than 50% representation on the portfolio company's board. In May 2018, the Company purchased common shares, thereby obtaining greater than 25% of voting securities of Tectura as of June 30, 2018. (8) As of December 31, 2021, the Company's investment in Coronado Aesthetics, LLC became classified as a control investment as a result of obtaining more than 25% of the voting securities of the portfolio company. CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES As of and for the year ended December 31, 2024 (in thousands) Portfolio Company Industry Type of Investment (1) Maturity Date Interest Rate and Floor Principal Cost Value (2) Control Investments Majority Owned Control Investments Coronado Aesthetics, LLC Medical Devices & Equipment Preferred Series A Equity 5,000,000 $ 250 $ 69 Medical Devices & Equipment Common Stock 180,000 — — Total Coronado Aesthetics, LLC $ 250 $ 69 Gibraltar Acquisition LLC (3) Diversified Financial Services Unsecured Debt September 2026 FIXED 3.45%, PIK Interest 8.05% $ 26,569 26,337 26,337 Diversified Financial Services Unsecured Debt September 2026 FIXED 11.95% $ 10,000 9,875 9,875 Diversified Financial Services Member Units 1 34,006 23,051 Total Gibraltar Acquisition, LLC $ 70,218 $ 59,263 Hercules Adviser LLC (4) Diversified Financial Services Unsecured Debt June 2025 FIXED 5.00% $ 12,000 12,000 12,000 Diversified Financial Services Member Units 1 35 30,190 Total Hercules Adviser LLC $ 12,035 $ 42,190 Total Majority Owned Control Investments (5.10%)* $ 82,503 $ 101,522 Other Control Investments Tectura Corporation Consumer & Business Services Senior Secured Debt January 2027 FIXED 8.25% $ 8,250 $ 8,250 $ 8,027 Consumer & Business Services Common Stock 414,994,863 900 7 Consumer & Business Services Preferred Series BB Equity 1,000,000 — 17 Consumer & Business Services Preferred Series C Equity 3,235,298 13,263 3,606 Total Tectura Corporation $ 22,413 $ 11,657 Total Other Control Investments (0.59%)* $ 22,413 $ 11,657 Total Control Investments (5.69%)* $ 104,916 $ 113,179 * Value as a percent of net assets (1) Stock and warrants are generally non-income producing and restricted. (2) All of the Company’s control and affiliate investments are Level 3 investments valued using significant unobservable inputs. (3) Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC, respectively. (4) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1 - Description of Business” for additional disclosure. CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES As of and for the year ended December 31, 2023 (in thousands) Portfolio Company Industry Type of Investment (1) Maturity Date Interest Rate and Floor Principal or Shares Cost Value (2) Control Investments Majority Owned Control Investments Coronado Aesthetics, LLC Medical Devices & Equipment Preferred Series A Equity 5,000,000 $ 250 $ 260 Medical Devices & Equipment Common Stock 180,000 — 2 Total Coronado Aesthetics, LLC $ 250 $ 262 Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC) (3) Diversified Financial Services Unsecured Debt September 2026 FIXED 11.50% $ 25,000 24,663 24,663 Diversified Financial Services Unsecured Debt September 2026 FIXED 11.95% $ 10,000 9,815 9,815 Diversified Financial Services Member Units 1 34,006 28,034 Total Gibraltar Business Capital, LLC $ 68,484 $ 62,512 Hercules Adviser LLC (4) Diversified Financial Services Unsecured Debt June 2025 FIXED 5.00% $ 12,000 12,000 12,000 Diversified Financial Services Member Units 1 35 28,713 Total Hercules Adviser LLC $ 12,035 $ 40,713 Total Majority Owned Control Investments (5.74%)* $ 80,769 $ 103,487 Other Control Investments Tectura Corporation Consumer & Business Services Senior Secured Debt July 2024 FIXED 8.25% $ 8,250 $ 8,250 $ 8,250 Consumer & Business Services Common Stock 414,994,863 900 4 Consumer & Business Services Preferred Series BB Equity 1,000,000 — 12 Consumer & Business Services Preferred Series C Equity 3,235,298 13,263 3,251 Total Tectura Corporation $ 22,413 $ 11,517 Total Other Control Investments (0.64%)* $ 22,413 $ 11,517 Total Control Investments (6.38%)* $ 103,182 $ 115,004 * Value as a percent of net assets (1) Stock and warrants are generally non-income producing and restricted. (2) All of the Company’s control and affiliate investments are Level 3 investments valued using significant unobservable inputs. (3) Gibraltar Acquisition LLC is a wholly-owned subsidiary, which is the holding company for their wholly-owned affiliated portfolio companies, Gibraltar Business Capital, LLC and Gibraltar Equipment Finance, LLC. The subsidiary has no significant assets or liabilities, other than their equity and debt investments and equity interest in Gibraltar Business Capital, LLC and Gibraltar Equipment Finance LLC, respectively. (4) Hercules Adviser LLC is owned by Hercules Capital Management LLC and presented with Hercules Partner Holdings, LLC which are both wholly owned by the Company. Please refer to “Note 1 - Description of Business” for additional disclosure.

Description of Business (Detail

Description of Business (Details)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment company regulated status	true

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Detail)	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Investment company, accounting and reporting under Topic 946	true
Investments subject to investment valuation policy, percentage	95.50%
Other comprehensive income | $	$ 0	$ 0	$ 0
Number of operating segments | segment	1

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Investments Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 3,653,758	$ 3,243,438
Accounts Payable and Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other liabilities	(1,012)
Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,419,044	2,987,577
Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	75,557	69,722
Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	53,802	53,038
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	74,855	99,132
Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	30,500	33,969
Investment Funds & Vehicles measured at Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6,220	4,608
Total Investments, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,659,978	3,248,046
Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	538	(766)
Total Investments including cash and cash equivalents and derivative instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,681,616	3,303,280
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	30,262	57,342
Quoted Prices in Active Markets for Identical Assets (Level 1) | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	30,262	57,342
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	8,677	11,881
Significant Other Observable Inputs (Level 2) | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		0
Significant Other Observable Inputs (Level 2) | Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	8,677	11,881
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,614,819	3,174,215
Significant Unobservable Inputs (Level 3) | Accounts Payable and Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other liabilities	(1,012)
Significant Unobservable Inputs (Level 3) | Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3,419,044	2,987,577
Significant Unobservable Inputs (Level 3) | Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	75,557	69,722
Significant Unobservable Inputs (Level 3) | Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	53,802	53,038
Significant Unobservable Inputs (Level 3) | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	44,593	41,790
Significant Unobservable Inputs (Level 3) | Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	21,823	22,088
Money Market Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	21,100	56,000
Money Market Fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	21,100	56,000
Money Market Fund | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0	0
Money Market Fund | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0	0
Escrow and Other Investment Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	152	10,888
Escrow and Other Investment Receivables | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	$ 152	$ 10,888

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Reconciliation of Changes for All Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net realized gain (loss)	Net realized gain (loss)
Significant Unobservable Inputs (Level 3) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	$ 3,185,103	$ 2,882,285
Net Realized Gains (Losses)	(65,781)	(13,021)
Net Change in Unrealized Appreciation (Depreciation)	(10,738)	19,550
Purchases	1,494,274	1,289,369
Sales	(22,693)	(2,632)
Repayments	(965,924)	(990,448)
Gross Transfers into Level 3	(2,323)	(39,979)
Gross Transfers out of Level 3	(2,605)	(39,979)
Ending Balance	3,613,959	3,185,103
Significant Unobservable Inputs (Level 3) | Recurring | Accounts Payable and Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	0
Net Realized Gains (Losses)	(10,938)
Net Change in Unrealized Appreciation (Depreciation)	11,179
Purchase	1,870
Sales	1,353
Repayments	0
Gross Transfers into Level 3	1,770
Gross Transfers out of Level 3	0
Ending Balance	1,012	0
Significant Unobservable Inputs (Level 3) | Recurring | Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	53,038	41,488
Net Realized Gains (Losses)	(711)	(3,441)
Net Change in Unrealized Appreciation (Depreciation)	(5,709)	(1,123)
Purchases	4,753	2,851
Sales	0	0
Repayments	0	0
Gross Transfers into Level 3	(2,431)	(13,263)
Gross Transfers out of Level 3	0	0
Ending Balance	53,802	53,038
Significant Unobservable Inputs (Level 3) | Recurring | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	41,790	25,059
Net Realized Gains (Losses)	(1,453)	0
Net Change in Unrealized Appreciation (Depreciation)	(1,506)	11,325
Purchases	4,100	6,000
Sales	0	(594)
Repayments	0	0
Gross Transfers into Level 3	(1,662)	0
Gross Transfers out of Level 3	0	0
Ending Balance	44,593	41,790
Significant Unobservable Inputs (Level 3) | Recurring | Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	22,088	19,419
Net Realized Gains (Losses)	(648)	(4,295)
Net Change in Unrealized Appreciation (Depreciation)	(702)	4,825
Purchases	3,914	3,894
Sales	(2,829)	(1,755)
Repayments	0	0
Gross Transfers into Level 3	0	0
Gross Transfers out of Level 3	0	0
Ending Balance	21,823	22,088
Significant Unobservable Inputs (Level 3) | Recurring | Senior Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	2,987,577	2,741,388
Net Realized Gains (Losses)	(52,120)	(5,350)
Net Change in Unrealized Appreciation (Depreciation)	(21,146)	17,277
Purchases	1,475,032	1,264,689
Sales	0	0
Repayments	(965,924)	(990,448)
Gross Transfers into Level 3	0	0
Gross Transfers out of Level 3	(4,375)	(39,979)
Ending Balance	3,419,044	2,987,577
Significant Unobservable Inputs (Level 3) | Recurring | Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	69,722	54,056
Net Realized Gains (Losses)	0	0
Net Change in Unrealized Appreciation (Depreciation)	1,277	4,268
Purchases	4,558	11,398
Sales	0	0
Repayments	0	0
Gross Transfers into Level 3	0	0
Gross Transfers out of Level 3	0	0
Ending Balance	75,557	69,722
Significant Unobservable Inputs (Level 3) | Recurring | Escrow and Other Investment Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning Balance	10,888	875
Net Realized Gains (Losses)	89	65
Net Change in Unrealized Appreciation (Depreciation)	5,869	(17,022)
Purchases	47	537
Sales	(18,511)	(283)
Repayments	0	0
Gross Transfers into Level 3	0	(26,716)
Gross Transfers out of Level 3	1,770	0
Ending Balance	$ 152	$ 10,888
HTGC Debt And Equity Securities Realized Gain Loss
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net change in unrealized appreciation (depreciation)	Total net change in unrealized appreciation (depreciation)

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Equity Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total net change in unrealized appreciation (depreciation)	$ (31,209)	$ 25,010	$ (85,063)
Significant Unobservable Inputs (Level 3) | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total net change in unrealized appreciation (depreciation)	(44,200)	11,500
Significant Unobservable Inputs (Level 3) | Preferred Stock Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total net change in unrealized appreciation (depreciation)	(5,900)	(4,600)
Significant Unobservable Inputs (Level 3) | Common Stock Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total net change in unrealized appreciation (depreciation)	(2,400)	11,300
Significant Unobservable Inputs (Level 3) | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total net change in unrealized appreciation (depreciation)	$ 700	$ 1,500

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Schedule of Quantitative Information of Fair Value Measurements (Details) - Significant Unobservable Inputs (Level 3) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 3,494,601	$ 3,057,299
Equity and Warrant Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	120,218	116,916
Debt Investments And Other Investment Receivables
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	3,493,589	3,066,947
Market Comparable Companies | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	45,420	52,094
Market Comparable Companies | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	18,302	19,014
Market Comparable Companies | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	947,065	971,775
Market Comparable Companies | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	1,365,943	1,181,823
Market Comparable Companies | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	21,102	1,678
Market Comparable Companies | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	59,645
Market Comparable Companies | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 636,258	$ 322,162
Market Comparable Companies | Hypothetical Market Yield | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1310
Market Comparable Companies | Premium/(Discount) | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		0.0047
Market Comparable Companies | Minimum | Hypothetical Market Yield | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0842	0.1091
Market Comparable Companies | Minimum | Hypothetical Market Yield | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1021	0.1130
Market Comparable Companies | Minimum | Hypothetical Market Yield | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1241	0.1075
Market Comparable Companies | Minimum | Hypothetical Market Yield | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1179
Market Comparable Companies | Minimum | Hypothetical Market Yield | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1027	0.1254
Market Comparable Companies | Minimum | Premium/(Discount) | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.0250)	(0.0100)
Market Comparable Companies | Minimum | Premium/(Discount) | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.0075)	(0.0100)
Market Comparable Companies | Minimum | Premium/(Discount) | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0025	0.0075
Market Comparable Companies | Minimum | Premium/(Discount) | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0
Market Comparable Companies | Minimum | Premium/(Discount) | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.0025)	(0.0075)
Market Comparable Companies | Minimum | EBITDA Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Minimum | EBITDA Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Minimum | Revenue Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.4	0.3
Market Comparable Companies | Minimum | Revenue Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.8	0.9
Market Comparable Companies | Minimum | Tangible Book Value Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	1.7	1.8
Market Comparable Companies | Minimum | Discount for Lack of Marketability | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1764	0.0711
Market Comparable Companies | Minimum | Discount for Lack of Marketability | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1472	0.0621
Market Comparable Companies | Maximum | Hypothetical Market Yield | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1619	0.2143
Market Comparable Companies | Maximum | Hypothetical Market Yield | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2058	0.2074
Market Comparable Companies | Maximum | Hypothetical Market Yield | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1544	0.1075
Market Comparable Companies | Maximum | Hypothetical Market Yield | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1275
Market Comparable Companies | Maximum | Hypothetical Market Yield | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2100	0.2015
Market Comparable Companies | Maximum | Premium/(Discount) | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0300	0.0350
Market Comparable Companies | Maximum | Premium/(Discount) | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0450	0.0500
Market Comparable Companies | Maximum | Premium/(Discount) | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0350	0.0075
Market Comparable Companies | Maximum | Premium/(Discount) | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0050
Market Comparable Companies | Maximum | Premium/(Discount) | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0500	0.0225
Market Comparable Companies | Maximum | EBITDA Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Maximum | EBITDA Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Maximum | Revenue Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	16.8	20.1
Market Comparable Companies | Maximum | Revenue Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	14.1	10.2
Market Comparable Companies | Maximum | Tangible Book Value Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	1.7	1.8
Market Comparable Companies | Maximum | Discount for Lack of Marketability | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.9280	0.9272
Market Comparable Companies | Maximum | Discount for Lack of Marketability | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.3435	0.3312
Market Comparable Companies | Weighted Average | Hypothetical Market Yield | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1203	0.1346
Market Comparable Companies | Weighted Average | Hypothetical Market Yield | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		0.1503
Market Comparable Companies | Weighted Average | Hypothetical Market Yield | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1525	0.1075
Market Comparable Companies | Weighted Average | Hypothetical Market Yield | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1224
Market Comparable Companies | Weighted Average | Hypothetical Market Yield | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1412	0.1413
Market Comparable Companies | Weighted Average | Premium/(Discount) | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0013	0.0004
Market Comparable Companies | Weighted Average | Premium/(Discount) | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0020
Market Comparable Companies | Weighted Average | Premium/(Discount) | Sustainable and Renewable Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0045	0.0075
Market Comparable Companies | Weighted Average | Premium/(Discount) | Medical Devices | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0026
Market Comparable Companies | Weighted Average | Premium/(Discount) | Lower Middle Market | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0107	0.0056
Market Comparable Companies | Weighted Average | EBITDA Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Weighted Average | EBITDA Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		12.3
Market Comparable Companies | Weighted Average | Revenue Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	9.1	7.2
Market Comparable Companies | Weighted Average | Revenue Multiple | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	4.5	4.2
Market Comparable Companies | Weighted Average | Tangible Book Value Multiple | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	1.7	1.8
Market Comparable Companies | Weighted Average | Discount for Lack of Marketability | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.3612	0.3157
Market Comparable Companies | Weighted Average | Discount for Lack of Marketability | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2676	0.2170
Liquidation | Accounts Payable and Accrued Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ (1,012)
Liquidation | Other Investment Receivables
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments		$ 9,648
Liquidation | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	55,344	8,455
Liquidation | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 51,004	$ 0
Liquidation | Minimum | Probability weighting of alternative outcomes | Accounts Payable and Accrued Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2000
Liquidation | Minimum | Probability weighting of alternative outcomes | Other Investment Receivables
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		0.1000
Liquidation | Minimum | Probability weighting of alternative outcomes | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2000	0.1000
Liquidation | Minimum | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2200	1
Liquidation | Maximum | Probability weighting of alternative outcomes | Accounts Payable and Accrued Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.5000
Liquidation | Maximum | Probability weighting of alternative outcomes | Other Investment Receivables
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		0.5000
Liquidation | Maximum | Probability weighting of alternative outcomes | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.8000	0.5000
Liquidation | Maximum | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.7800	1
Liquidation | Weighted Average | Probability weighting of alternative outcomes | Accounts Payable and Accrued Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.3844
Liquidation | Weighted Average | Probability weighting of alternative outcomes | Other Investment Receivables
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input		0.4183
Liquidation | Weighted Average | Probability weighting of alternative outcomes | Pharmaceuticals | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.7553	0.4183
Liquidation | Weighted Average | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.6634	1
Convertible Note Analysis | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 26,869	$ 23,244
Convertible Note Analysis | Minimum | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0100	0.0100
Convertible Note Analysis | Maximum | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.7000	0.5000
Convertible Note Analysis | Weighted Average | Probability weighting of alternative outcomes | Technology | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.5066	0.3932
Cost Approach | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 242,833	$ 431,512
Debt Investments Imminent Payoffs | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	4,141	54,430
Debt Maturing Within One Year | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	36,185	62,220
Market Adjusted OPM Backsolve | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	12,374	11,096
Market Adjusted OPM Backsolve | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 3,521	$ 3,074
Market Adjusted OPM Backsolve | Minimum | Market Equity Adjustment | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.9657)	(0.8614)
Market Adjusted OPM Backsolve | Minimum | Market Equity Adjustment | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.5636)	(0.7067)
Market Adjusted OPM Backsolve | Maximum | Market Equity Adjustment | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2476	0.3269
Market Adjusted OPM Backsolve | Maximum | Market Equity Adjustment | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.2476	0.3486
Market Adjusted OPM Backsolve | Weighted Average | Market Equity Adjustment | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	(0.1757)	0.0747
Market Adjusted OPM Backsolve | Weighted Average | Market Equity Adjustment | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.0133	0.1317
Discounted Cash Flow | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 34,677	$ 28,713
Discounted Cash Flow | Minimum | Discount Rate | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.1217	0.1988
Discounted Cash Flow | Maximum | Discount Rate | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.3334	0.3197
Discounted Cash Flow | Weighted Average | Discount Rate | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investment company, investment owned, measurement input	0.3021	0.3051
Other | Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 5,924	$ 2,925
Other | Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments		$ 0
Debt Investments In Wholly-Owned Subsidiaries | Debt Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Investments	$ 48,212

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Narrative (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
2033 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current price per par value (in dollars per share)	$ 25.17	$ 25.25
2031 Asset-Backed Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current price per par value (in dollars per share)	0.963	$ 0.950
Underwriting | 2033 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current price per par value (in dollars per share)	$ 25

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy Of Outstanding Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	$ 1,768,955	$ 1,554,869
Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	1,768,955	1,554,869
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	1,713,360	1,450,995
SBA Debentures | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	271,371	170,323
SBA Debentures | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	260,436	142,011
July 2024 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value		104,828
July 2024 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		105,755
February 2025 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	49,981	49,866
February 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	50,698	49,144
June 2025 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	69,919	69,757
June 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	69,308	67,198
June 2025 3-Year Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	49,926	49,771
June 2025 3-Year Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,713	48,983
March 2026 A Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	49,889	49,795
March 2026 A Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,052	47,702
March 2026 B Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	49,880	49,776
March 2026 B Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,087	47,759
September 2026 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	323,321	322,339
September 2026 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	302,244	288,711
January 2027 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	347,265	345,935
January 2027 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	327,928	315,832
2031 Asset-Backed Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	118,769	148,544
2031 Asset-Backed Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	115,031	142,500
2033 Notes | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	39,043	38,935
2033 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	40,272	40,400
MUFG Bank Facility | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	116,000	61,000
MUFG Bank Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	116,000	61,000
SMBC Facility | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying value	283,591	94,000
SMBC Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	283,591	94,000
Identical Assets Level 1 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | SBA Debentures | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | July 2024 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		0
Identical Assets Level 1 | February 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | June 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | June 2025 3-Year Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0
Identical Assets Level 1 | June 2025 3-Year Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		0
Identical Assets Level 1 | March 2026 A Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | March 2026 B Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | September 2026 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | January 2027 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | 2031 Asset-Backed Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | 2033 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | MUFG Bank Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Identical Assets Level 1 | SMBC Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	155,303	182,900
Observable Inputs Level 2 | SBA Debentures | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | July 2024 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		0
Observable Inputs Level 2 | February 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | June 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | June 2025 3-Year Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | March 2026 A Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | March 2026 B Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | September 2026 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | January 2027 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | 2031 Asset-Backed Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	115,031	142,500
Observable Inputs Level 2 | 2033 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	40,272	40,400
Observable Inputs Level 2 | MUFG Bank Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Observable Inputs Level 2 | SMBC Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Unobservable Inputs Level 3 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	1,558,057	1,268,095
Unobservable Inputs Level 3 | SBA Debentures | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	260,436	142,011
Unobservable Inputs Level 3 | July 2024 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		105,755
Unobservable Inputs Level 3 | February 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	50,698	49,144
Unobservable Inputs Level 3 | June 2025 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	69,308	67,198
Unobservable Inputs Level 3 | June 2025 3-Year Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,713	48,983
Unobservable Inputs Level 3 | March 2026 A Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,052	47,702
Unobservable Inputs Level 3 | March 2026 B Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	49,087	47,759
Unobservable Inputs Level 3 | September 2026 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	302,244	288,711
Unobservable Inputs Level 3 | January 2027 Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	327,928
Unobservable Inputs Level 3 | January 2027 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value		315,832
Unobservable Inputs Level 3 | 2031 Asset-Backed Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Unobservable Inputs Level 3 | 2033 Notes | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	0	0
Unobservable Inputs Level 3 | MUFG Bank Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	116,000	61,000
Unobservable Inputs Level 3 | SMBC Facility | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Approximate Fair Value	$ 283,591	$ 94,000

Investments - Schedule of Reali

Investments - Schedule of Realized Gains and Losses and Changes in Unrealized Appreciation and Depreciation on Control and Affiliate investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Investments [Line Items]
Investments, at fair value:	$ 3,659,978	$ 3,248,046
Interest & Dividend Income	467,195	434,425	$ 307,258
Fee Income	26,396	26,243	14,430
Total net change in unrealized appreciation (depreciation)	(31,209)	25,010	(85,063)
Control investments
Schedule Of Investments [Line Items]
Investments, at fair value:	113,179	115,004	76,458
Interest & Dividend Income	13,403
Interest Income		4,642	4,621
Fee Income	146	95	68
Total net change in unrealized appreciation (depreciation)	(3,559)	22,634	(278)
Net realized gain (loss)	0	0	0
Control investments | Coronado Aesthetics, LLC
Schedule Of Investments [Line Items]
Investments, at fair value:	69	262	319
Interest & Dividend Income	0
Interest Income		0	0
Fee Income	0	0	0
Total net change in unrealized appreciation (depreciation)	(193)	(57)	(246)
Net realized gain (loss)	0	0	0
Control investments | Gibraltar Acquisition LLC
Schedule Of Investments [Line Items]
Investments, at fair value:	59,263	62,512
Interest & Dividend Income	5,301
Interest Income		3,344
Fee Income	146	95
Total net change in unrealized appreciation (depreciation)	(4,983)	9,656
Net realized gain (loss)	0	0
Control investments | Gibraltar Business Capital, LLC
Schedule Of Investments [Line Items]
Investments, at fair value:			36,944
Interest Income			3,385
Fee Income			68
Total net change in unrealized appreciation (depreciation)			(6,968)
Net realized gain (loss)			0
Control investments | Hercules Adviser LLC
Schedule Of Investments [Line Items]
Investments, at fair value:	42,190	40,713	31,153
Interest & Dividend Income	7,410
Interest Income		608	546
Fee Income	0	0	0
Total net change in unrealized appreciation (depreciation)	1,477	9,560	7,163
Net realized gain (loss)	0	0	0
Control investments | Tectura Corporation
Schedule Of Investments [Line Items]
Investments, at fair value:	11,657	11,517	8,042
Interest & Dividend Income	692
Interest Income		690	690
Fee Income	0	0	0
Total net change in unrealized appreciation (depreciation)	140	3,475	(227)
Net realized gain (loss)	$ 0	$ 0	0
Investment, Affiliated Issuer
Schedule Of Investments [Line Items]
Investments, at fair value:			0
Interest Income			1,204
Fee Income			0
Total net change in unrealized appreciation (depreciation)			4,089
Net realized gain (loss)			1,758
Investment, Affiliated Issuer | Black Crow AI, Inc.
Schedule Of Investments [Line Items]
Investments, at fair value:			0
Interest Income			0
Fee Income			0
Total net change in unrealized appreciation (depreciation)			(120)
Net realized gain (loss)			3,772
Investment, Affiliated Issuer | Pineapple Energy LLC
Schedule Of Investments [Line Items]
Investments, at fair value:			0
Interest Income			1,204
Fee Income			0
Total net change in unrealized appreciation (depreciation)			4,209
Net realized gain (loss)			(2,014)
Control And Affiliate Issuer Investments Member
Schedule Of Investments [Line Items]
Investments, at fair value:			76,458
Interest Income			5,825
Fee Income			68
Total net change in unrealized appreciation (depreciation)			3,811
Net realized gain (loss)			$ 1,758

Investments - Schedule of Fair

Investments - Schedule of Fair Value Portfolio of Investments by Asset Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,659,978	$ 3,248,046
Investment Type Concentration Risk | Total Investments Benchmark
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,659,978	$ 3,248,046
Percentage of Total Portfolio	100%	100%
Investment Type Concentration Risk | Total Investments Benchmark | Senior Secured Debt
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,419,044	$ 2,987,577
Percentage of Total Portfolio	93.40%	92%
Investment Type Concentration Risk | Total Investments Benchmark | Unsecured Debt
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 75,557	$ 69,722
Percentage of Total Portfolio	2.10%	2.20%
Investment Type Concentration Risk | Total Investments Benchmark | Preferred Stock
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 53,802	$ 53,038
Percentage of Total Portfolio	1.50%	1.60%
Investment Type Concentration Risk | Total Investments Benchmark | Common Stock
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 74,855	$ 99,132
Percentage of Total Portfolio	2%	3.10%
Investment Type Concentration Risk | Total Investments Benchmark | Warrants
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 30,500	$ 33,969
Percentage of Total Portfolio	0.80%	1%
Investment Type Concentration Risk | Total Investments Benchmark | Investment Funds & Vehicles
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 6,220	$ 4,608
Percentage of Total Portfolio	0.20%	0.10%

Investments - Schedule of Fai_2

Investments - Schedule of Fair Value Portfolio of Investments by Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,659,978	$ 3,248,046
Geographic Concentration Risk | Total Investments Benchmark, Geographical
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,659,978	$ 3,248,046
Percentage of Total Portfolio	100%	100%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | United States
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,288,737	$ 2,861,615
Percentage of Total Portfolio	89.90%	88.10%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | United Kingdom
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 142,183	$ 222,136
Percentage of Total Portfolio	3.90%	6.90%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Israel
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 88,066	$ 52,868
Percentage of Total Portfolio	2.40%	1.60%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Netherlands
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 59,157	$ 89,995
Percentage of Total Portfolio	1.60%	2.80%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Germany
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 49,255	$ 1,144
Percentage of Total Portfolio	1.30%	0%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Canada
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 16,251	$ 15,730
Percentage of Total Portfolio	0.40%	0.50%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Denmark
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 9,284	$ 4,173
Percentage of Total Portfolio	0.30%	0.10%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Ireland
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 4,649	$ 0
Percentage of Total Portfolio	0.10%	0%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Singapore
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 1,996	$ 0
Percentage of Total Portfolio	0.10%	0%
Geographic Concentration Risk | Total Investments Benchmark, Geographical | Other
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 400	$ 385
Percentage of Total Portfolio	0%	0%

Investments - Schedule of Fai_3

Investments - Schedule of Fair Value Portfolio By Industry Sector (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 3,659,978	$ 3,248,046
Industry Sub Sector Concentration Risk | Total Industry Sectors
Schedule Of Investments [Line Items]
Investments at Fair Value	3,659,978	3,248,046
Industry Sub Sector Concentration Risk | Software
Schedule Of Investments [Line Items]
Investments at Fair Value	1,081,100	764,985
Industry Sub Sector Concentration Risk | Drug Discovery & Development
Schedule Of Investments [Line Items]
Investments at Fair Value	1,080,390	1,257,699
Industry Sub Sector Concentration Risk | Healthcare Services, Other
Schedule Of Investments [Line Items]
Investments at Fair Value	610,184	300,079
Industry Sub Sector Concentration Risk | Consumer & Business Services
Schedule Of Investments [Line Items]
Investments at Fair Value	372,641	525,973
Industry Sub Sector Concentration Risk | Electronics & Computer Hardware
Schedule Of Investments [Line Items]
Investments at Fair Value	162,888	20,324
Industry Sub Sector Concentration Risk | Diversified Financial Services
Schedule Of Investments [Line Items]
Investments at Fair Value	113,491	114,722
Industry Sub Sector Concentration Risk | Medical Devices & Equipment
Schedule Of Investments [Line Items]
Investments at Fair Value	74,962	22,096
Industry Sub Sector Concentration Risk | Space Technologies
Schedule Of Investments [Line Items]
Investments at Fair Value	45,700	0
Industry Sub Sector Concentration Risk | Biotechnology Tools
Schedule Of Investments [Line Items]
Investments at Fair Value	35,434	48,381
Industry Sub Sector Concentration Risk | Communications & Networking
Schedule Of Investments [Line Items]
Investments at Fair Value	27,700	29,400
Industry Sub Sector Concentration Risk | Consumer & Business Products
Schedule Of Investments [Line Items]
Investments at Fair Value	27,696	9,581
Industry Sub Sector Concentration Risk | Information Services
Schedule Of Investments [Line Items]
Investments at Fair Value	24,356	126,605
Industry Sub Sector Concentration Risk | Consumer & Business Products
Schedule Of Investments [Line Items]
Investments at Fair Value	1,497	2,589
Industry Sub Sector Concentration Risk | Manufacturing Technology
Schedule Of Investments [Line Items]
Investments at Fair Value	1,162	11,006
Industry Sub Sector Concentration Risk | Semiconductors
Schedule Of Investments [Line Items]
Investments at Fair Value	704	1,205
Industry Sub Sector Concentration Risk | Media/Content/Info
Schedule Of Investments [Line Items]
Investments at Fair Value	63	12,704
Industry Sub Sector Concentration Risk | Drug Delivery
Schedule Of Investments [Line Items]
Investments at Fair Value	10	21
Industry Sub Sector Concentration Risk | Media/Content/Info
Schedule Of Investments [Line Items]
Investments at Fair Value	$ 0	$ 676
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Total Industry Sectors
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	100%	100%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Software
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	29.50%	23.60%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Drug Discovery & Development
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	29.50%	38.70%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Healthcare Services, Other
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	16.70%	9.30%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Consumer & Business Services
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	10.20%	16.20%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Electronics & Computer Hardware
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	4.50%	0.60%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Diversified Financial Services
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	3.10%	3.50%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Medical Devices & Equipment
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	2%	0.70%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Space Technologies
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	1.20%	0%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Biotechnology Tools
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	1%	1.50%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Communications & Networking
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0.80%	0.90%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Consumer & Business Products
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0.80%	0.30%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Information Services
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0.70%	3.90%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Consumer & Business Products
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0.10%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Manufacturing Technology
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0.30%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Semiconductors
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Media/Content/Info
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0.40%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Drug Delivery
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0%
Industry Sub Sector Concentration Risk | Industry Sub Sector Investments Benchmark | Media/Content/Info
Schedule Of Investments [Line Items]
Percentage of Total Portfolio	0%	0%

Investments - Narrative (Detail

Investments - Narrative (Details)	Dec. 31, 2024 portfolioCompany equityInvestment	Dec. 31, 2023 equityInvestment portfolioCompany
Schedule Of Investments [Line Items]
Percentage of fair value investment in portfolio companies	31.60%	29.70%
Count greater five percent fair value equity | equityInvestment	3	5
Percentage of equity investments held in portfolio companies	49.70%	56.50%
Concentrations of Credit Risk
Schedule Of Investments [Line Items]
Number of portfolio companies | portfolioCompany	6	5

Investments - Schedule of Inves

Investments - Schedule of Investment Collateral (Details) - Total Debt Investments Benchmark - Collateral Type Concentration Risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Summary of Investment Holdings
Concentration risk, percentage	100%	100%
Senior Secured First Lien
Summary of Investment Holdings
Concentration risk, percentage	91%	88.80%
Senior Secured First Lien | All assets including intellectual property
Summary of Investment Holdings
Concentration risk, percentage	67.10%	52.30%
Senior Secured First Lien | All assets with negative pledge on intellectual property
Summary of Investment Holdings
Concentration risk, percentage	14.20%	24%
Senior Secured First Lien | “Last-out” with security interest in all of the assets
Summary of Investment Holdings
Concentration risk, percentage	9.70%	12.50%
Second lien
Summary of Investment Holdings
Concentration risk, percentage	6.80%	8.90%
Unsecured Debt
Summary of Investment Holdings
Concentration risk, percentage	2.20%	2.30%

Investments - Schedule of Deriv

Investments - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Summary of Investment Holdings
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Total	$ 456	$ (766)
Foreign Exchange Forward
Summary of Investment Holdings
Foreign currency forward contract	538
Foreign currency forward contract		766
Net realized gain (loss) - Non-control / Non-affiliate investments	(849)	0
Net change in unrealized appreciation (depreciation) - Non-control / Non-affiliate investments	$ 1,305	$ (766)

Investments - Schedule of Inv_2

Investments - Schedule of Investment Interest Income and Fee Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Investments [Line Items]
Total PIK interest income	$ 467,195	$ 434,425	$ 307,258
Total fee income	26,396	26,243	14,430
Contractual interest income
Schedule Of Investments [Line Items]
Total PIK interest income	355,470	351,883	249,375
Exit fee interest income
Schedule Of Investments [Line Items]
Total PIK interest income	44,448	45,747	32,063
PIK interest income
Schedule Of Investments [Line Items]
Total PIK interest income	51,270	24,670	20,455
Dividend income
Schedule Of Investments [Line Items]
Total PIK interest income	7,900	1,400	0
Other investment income
Schedule Of Investments [Line Items]
Total PIK interest income	8,107	10,725	5,365
Recurring fee income
Schedule Of Investments [Line Items]
Total fee income	9,507	8,835	7,834
Fee income - expired commitments
Schedule Of Investments [Line Items]
Total fee income	2,442	1,695	1,502
Accelerated fee income - early repayments
Schedule Of Investments [Line Items]
Total fee income	$ 14,447	$ 15,713	$ 5,094

Investments - Schedule of Unamo

Investments - Schedule of Unamortized Capitalized Fee Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Unamortized Fee Income	$ 46	$ 42.3
Offset against debt investment cost
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Unamortized Fee Income	36.9	32.9
Deferred obligation contingent on funding or other milestone
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Unamortized Fee Income	$ 9.1	$ 9.4

Investments - Schedule of Loan

Investments - Schedule of Loan Exit Fees Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Exit Fees Receivable	$ 42.2	$ 40.2
Included within debt investment cost
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Exit Fees Receivable	39.2	35.9
Deferred receivable related to expired commitments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Exit Fees Receivable	$ 3	$ 4.3

Debt - Schedule of Available an

Debt - Schedule of Available and Outstanding Debt (Details) - USD ($) $ in Thousands		Dec. 31, 2024	Jul. 09, 2024	Dec. 31, 2023	Jan. 31, 2023	Jun. 23, 2022	Jun. 22, 2022	Jan. 20, 2022	Sep. 16, 2021	Mar. 04, 2021	Nov. 04, 2020	Oct. 27, 2020	Jun. 03, 2020	Feb. 05, 2020	Jul. 16, 2019	Sep. 24, 2018
Debt Instrument [Line Items]
Total Available		$ 2,329,475		$ 2,215,000
Principal Outstanding		1,783,265		1,570,000
Carrying value		1,768,955		1,554,869
SMBC LC Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 175,000
SBA Debentures
Debt Instrument [Line Items]
Total Available	[1]	350,000		175,000
Principal Outstanding	[1]	279,000		175,000
Carrying value	[1]	271,371		170,323
Maximum borrowing capacity		350,000
SBA Debentures | HC IV
Debt Instrument [Line Items]
Total Available		175,000
Maximum borrowing capacity		175,000		175,000								$ 175,000
SBA Debentures | SBIC V
Debt Instrument [Line Items]
Total Available		104,000
Maximum borrowing capacity		175,000	$ 175,000
July 2024 Notes
Debt Instrument [Line Items]
Total Available		0		105,000											$ 105,000
Principal Outstanding		0		105,000
Carrying value		0		104,828
February 2025 Notes
Debt Instrument [Line Items]
Total Available		50,000		50,000										$ 50,000
Principal Outstanding		50,000		50,000
Carrying value		49,981		49,866
June 2025 Notes
Debt Instrument [Line Items]
Total Available		70,000		70,000									$ 70,000
Principal Outstanding		70,000		70,000
Carrying value		69,919		69,757
June 2025 3-Year Notes
Debt Instrument [Line Items]
Total Available		50,000		50,000		$ 50,000
Principal Outstanding		50,000		50,000
Carrying value		49,926		49,771
March 2026 A Notes
Debt Instrument [Line Items]
Total Available		50,000		50,000							$ 50,000
Principal Outstanding		50,000		50,000
Carrying value		49,889		49,795
March 2026 B Notes
Debt Instrument [Line Items]
Total Available		50,000		50,000						$ 50,000
Principal Outstanding		50,000		50,000
Carrying value		49,880		49,776
September 2026 Notes
Debt Instrument [Line Items]
Total Available		325,000		325,000					$ 325,000
Principal Outstanding		325,000		325,000
Carrying value		323,321		322,339
January 2027 Notes
Debt Instrument [Line Items]
Total Available		350,000		350,000				$ 350,000
Principal Outstanding		350,000		350,000
Carrying value		347,265		345,935
2031 Asset-Backed Notes
Debt Instrument [Line Items]
Total Available		119,475		150,000			$ 150,000
Principal Outstanding		119,475		150,000
Carrying value		118,769		148,544
2033 Notes
Debt Instrument [Line Items]
Total Available		40,000		40,000												$ 40,000
Principal Outstanding		40,000		40,000
Carrying value		39,043		38,935
MUFG Bank Facility
Debt Instrument [Line Items]
Total Available		400,000		400,000
Principal Outstanding		116,000		61,000
Carrying value		116,000		61,000
SMBC Facility
Debt Instrument [Line Items]
Total Available	[2],[3]	475,000		400,000
Principal Outstanding	[2],[3]	283,790		94,000
Carrying value	[2],[3]	283,591		94,000
SMBC Facility | SMBC LC Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		175,000		$ 175,000
SMBC Facility | Term Loan
Debt Instrument [Line Items]
Total Available		25,000
Principal Outstanding		25,000
Carrying value		$ 24,800
[1] As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV. In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively. “Total Available” includes $175.0 million of available commitment through the letter of credit facility as of December 31, 2024 and December 31, 2023.

Debt - Schedule of Debt Issuanc

Debt - Schedule of Debt Issuance Costs, Net of accumulated Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	$ 14,310	$ 15,131
Debt Issuance Costs Net and Other Assets
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	18,574	20,446
SBA Debentures
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	7,629	4,677
July 2024 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	0	172
February 2025 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	19	134
June 2025 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	81	243
June 2025 3-Year Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	74	229
March 2026 A Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	111	205
March 2026 B Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	120	224
September 2026 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	1,679	2,661
January 2027 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	2,735	4,065
2031 Asset-Backed Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	706	1,456
2033 Notes
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	957	1,065
MUFG Bank Facility
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	1,770	3,540
SMBC Facility
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	2,693	$ 1,775
SMBC Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	2,500
SMBC Facility | Term Loan
Debt Instrument [Line Items]
Debt issuance cost, net of accumulated amortization	$ 200

Debt - Schedule of Components o

Debt - Schedule of Components of Interest Expense, Related Fees, Losses on Debt Extinguishment and Cash Paid for Interest Expense for Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Interest expense	$ 77,151	$ 67,620	$ 54,749
Amortization of debt issuance cost (loan fees)	6,073	6,123	4,800
Unused facility and other fees (loan fees)	2,734	3,722	2,798
Total interest expense and fees	85,958	77,465	62,347
Cash paid for interest expense	77,850	67,149	52,075
Loss on extinguishment of debt	171	0	3,686
SBA Debentures
Debt Instrument [Line Items]
Interest expense	4,993	4,562	3,997
Amortization of debt issuance cost (loan fees)	621	585	581
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	5,614	5,147	4,578
Cash paid for interest expense	4,575	4,562	2,835
2022 Notes
Debt Instrument [Line Items]
Interest expense			1,011
Amortization of debt issuance cost (loan fees)			50
Unused facility and other fees (loan fees)			0
Total interest expense and fees			1,061
Cash paid for interest expense			2,293
Amortization of original issue discounts			23
July 2024 Notes
Debt Instrument [Line Items]
Interest expense	2,706	5,009	5,009
Amortization of debt issuance cost (loan fees)	172	295	295
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	2,878	5,304	5,304
Cash paid for interest expense	5,008	5,009	5,009
February 2025 Notes
Debt Instrument [Line Items]
Interest expense	2,140	2,140	2,140
Amortization of debt issuance cost (loan fees)	115	115	115
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	2,255	2,255	2,255
Cash paid for interest expense	2,140	2,140	2,140
June 2025 Notes
Debt Instrument [Line Items]
Interest expense	3,017	3,017	3,017
Amortization of debt issuance cost (loan fees)	162	162	162
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	3,179	3,179	3,179
Cash paid for interest expense	3,016	3,017	3,017
June 2025 3-Year Notes
Debt Instrument [Line Items]
Interest expense	3,000	3,000	1,567
Amortization of debt issuance cost (loan fees)	155	155	81
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	3,155	3,155	1,648
Cash paid for interest expense	3,000	3,000	1,500
March 2026 A Notes
Debt Instrument [Line Items]
Interest expense	2,250	2,250	2,250
Amortization of debt issuance cost (loan fees)	95	95	95
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	2,345	2,345	2,345
Cash paid for interest expense	2,250	2,250	2,250
March 2026 B Notes
Debt Instrument [Line Items]
Interest expense	2,275	2,275	2,275
Amortization of debt issuance cost (loan fees)	103	103	103
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	2,378	2,378	2,378
Cash paid for interest expense	2,276	2,276	2,275
September 2026 Notes
Debt Instrument [Line Items]
Interest expense	8,697	8,697	8,698
Amortization of debt issuance cost (loan fees)	815	815	815
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	9,512	9,512	9,513
Cash paid for interest expense	8,531	8,532	8,531
Amortization of original issue discounts	166	166	166
January 2027 Notes
Debt Instrument [Line Items]
Interest expense	12,316	12,316	11,630
Amortization of debt issuance cost (loan fees)	828	828	782
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	13,144	13,144	12,412
Cash paid for interest expense	11,812	11,812	5,906
Amortization of original issue discounts	503	503	475
2031 Asset-Backed Notes
Debt Instrument [Line Items]
Interest expense	7,464	7,613	3,975
Amortization of debt issuance cost (loan fees)	394	399	209
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	7,858	8,012	4,184
Cash paid for interest expense	7,321	7,425	3,671
Amortization of original issue discounts	185	188	98
Loss on extinguishment of debt	171
2033 Notes
Debt Instrument [Line Items]
Interest expense	2,500	2,500	2,500
Amortization of debt issuance cost (loan fees)	108	108	108
Unused facility and other fees (loan fees)	0	0	0
Total interest expense and fees	2,608	2,608	2,608
Cash paid for interest expense	2,500	2,500	2,500
2022 Convertible Notes
Debt Instrument [Line Items]
Interest expense			923
Amortization of debt issuance cost (loan fees)			148
Unused facility and other fees (loan fees)			0
Total interest expense and fees			1,071
Cash paid for interest expense			5,004
Amortization of original issue discounts			112
MUFG Bank Facility
Debt Instrument [Line Items]
Interest expense	11,931	5,583	4,548
Amortization of debt issuance cost (loan fees)	1,770	1,770	941
Unused facility and other fees (loan fees)	1,949	2,782	2,285
Total interest expense and fees	15,650	10,135	7,774
Cash paid for interest expense	11,866	5,948	4,097
SMBC Facility
Debt Instrument [Line Items]
Interest expense	13,862	8,658	1,209
Amortization of debt issuance cost (loan fees)	735	693	315
Unused facility and other fees (loan fees)	785	940	513
Total interest expense and fees	15,382	10,291	2,037
Cash paid for interest expense	$ 13,555	$ 8,678	$ 1,047

Debt - Schedule of Weighted Ave

Debt - Schedule of Weighted Average Interest Rates, Cost of Debt and Debt Outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Weighted average interest cost	4.50%	4.20%
Weighted average cost of debt	5%	4.80%
Weighted average debt outstanding	$ 1,709,469	$ 1,607,278	$ 1,468,335	$ 1,248,177	$ 1,309,903	$ 1,177,379	$ 826,931	$ 784,455	$ 635,365	$ 615,198

Debt - Schedule of SBA Debentur

Debt - Schedule of SBA Debentures Outstanding Principal Balances (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Outstanding principal balances		$ 1,783,265	$ 1,570,000
SBA Debentures Issued on March 26, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Mar. 26, 2021
Maturity Date		Sep. 01, 2031
Interest rate		1.58%
Outstanding principal balances		$ 37,500	37,500
SBA Debentures Issued on June 25, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Jun. 25, 2021
Maturity Date		Sep. 01, 2031
Interest rate		1.58%
Outstanding principal balances		$ 16,200	16,200
SBA Debentures Issued on July 28, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Jul. 28, 2021
Maturity Date		Sep. 01, 2031
Interest rate		1.58%
Outstanding principal balances		$ 5,400	5,400
SBA Debentures Issued on August 20, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Aug. 20, 2021
Maturity Date		Sep. 01, 2031
Interest rate		1.58%
Outstanding principal balances		$ 5,400	5,400
SBA Debentures Issued on October 21, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Oct. 21, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 14,000	14,000
SBA Debentures Issued on November 1, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Nov. 01, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 21,000	21,000
SBA Debentures Issued on November 15, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Nov. 15, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 5,200	5,200
SBA Debentures Issued on November 30, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Nov. 30, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 20,800	20,800
SBA Debentures Issued on December 20, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 20, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 10,000	10,000
SBA Debentures Issued on December 23, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 23, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 10,000	10,000
SBA Debentures Issued on December 28, 2021
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 28, 2021
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 5,000	5,000
SBA Debentures Issued on January 14, 2022
Debt Instrument [Line Items]
Issuance/Pooling Date		Jan. 14, 2022
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 4,500	4,500
SBA Debentures Issued on January 21, 2022
Debt Instrument [Line Items]
Issuance/Pooling Date		Jan. 21, 2022
Maturity Date		Mar. 01, 2032
Interest rate		3.21%
Outstanding principal balances		$ 20,000	20,000
SBA Debentures Issued on November 8, 2024
Debt Instrument [Line Items]
Issuance/Pooling Date		Nov. 08, 2024
Maturity Date		Mar. 01, 2035
Interest rate		5.16%
Outstanding principal balances		$ 30,000	0
SBA Debentures Issued on December 6, 2024
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 06, 2024
Maturity Date		Mar. 01, 2035
Interest rate		5.12%
Outstanding principal balances		$ 33,600	0
SBA Debentures Issued on December 12, 2024
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 12, 2024
Maturity Date		Mar. 01, 2035
Interest rate		5.05%
Outstanding principal balances		$ 8,400	0
SBA Debentures Issued on December 20, 2024
Debt Instrument [Line Items]
Issuance/Pooling Date		Dec. 20, 2024
Maturity Date		Mar. 01, 2035
Interest rate		5.01%
Outstanding principal balances		$ 32,000	0
SBA Debentures
Debt Instrument [Line Items]
Outstanding principal balances	[1]	$ 279,000	$ 175,000
[1] As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV.

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands

1 Months Ended

12 Months Ended

Feb. 05, 2025

Feb. 04, 2025

Jul. 16, 2024 USD ($)

Jan. 31, 2023 USD ($)

Dec. 31, 2024 USD ($) creditFacility

Dec. 31, 2023 USD ($) creditFacility

Dec. 31, 2022 USD ($)

Jul. 09, 2024 USD ($)

Jun. 23, 2022 USD ($)

Jun. 22, 2022 USD ($)

Jan. 20, 2022 USD ($)

Sep. 16, 2021 USD ($)

Mar. 04, 2021 USD ($)

Nov. 04, 2020 USD ($)

Oct. 27, 2020 USD ($)

Jun. 03, 2020 USD ($)

Feb. 05, 2020 USD ($)

Jul. 16, 2019 USD ($)

Sep. 24, 2018 USD ($)

Debt Instrument [Line Items]

Total Available

$ 2,329,475

$ 2,215,000

Repayment of debt

1,118,525

683,000

$ 931,198

Restricted cash

3,297

17,114

10,079

Loss on extinguishment of debt

$ (171)

$ 0

$ (3,686)

Number of available credit facilities | creditFacility

2

2

Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit interest rate

7.63%

7.41%

Debt average amount outstanding

$ 338,000

$ 192,300

MUFG Bank Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 400,000

Line of credit facility, description

funded by existing or additional lenders and with the agreement of MUFG Bank and subject to other customary conditions.

Debt instrument, variable interest rate, type [Extensible enumeration]

1-month SOFR

Interest rate plus applicable margin adjustment

2.75%

Line of credit facility, termination date

Jan. 13, 2026

Line of credit facility, covenant terms

these covenants require the Company to maintain certain financial ratios, including a minimum interest coverage ratio and a minimum tangible net worth with respect to Hercules Funding IV

MUFG Bank Facility | Maximum

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 600,000

SMBC Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 300,000

Line of credit facility, description

Availability under the revolving SMBC Facility will terminate on November 24, 2028, and the outstanding loans under the SMBC Facility will mature on November 26, 2029

Line of credit facility, termination date

Jan. 13, 2026

Nov. 26, 2029

Line of credit facility, unused capacity, commitment fee percentage

0.375%

SMBC Facility | Subsequent Event

Debt Instrument [Line Items]

Interest rate plus applicable margin adjustment

1.45%

1.475%

Line of credit facility, unused capacity, commitment fee percentage

0.40%

0.35%

SMBC Facility | Term Loan

Debt Instrument [Line Items]

Total Available

$ 25,000

Interest rate plus applicable margin adjustment

2%

SMBC Facility | Maximum

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 400,000

$ 500,000

Interest rate plus applicable margin adjustment

2%

SMBC Facility | Minimum

Debt Instrument [Line Items]

Interest rate plus applicable margin adjustment

1%

SMBC LC Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 175,000

VIE

Debt Instrument [Line Items]

Restricted cash

$ 3,297

17,114

SBA Debentures

Debt Instrument [Line Items]

Maximum borrowing capacity

350,000

Total Available

[1]

$ 350,000

175,000

SBA Debentures | HC IV

Debt Instrument [Line Items]

License term

10 years

Debt instrument license description

HC IV and SBIC V each received their licenses to operate as an SBIC on October 27, 2020 and July 9, 2024, respectively, and each license has a 10 year term.

Maximum borrowing capacity

$ 175,000

175,000

$ 175,000

Total Available

$ 175,000

SBA Debentures | SBIC V

Debt Instrument [Line Items]

License term

10 years

Debt instrument license description

HC IV and SBIC V each received their licenses to operate as an SBIC on October 27, 2020 and July 9, 2024, respectively, and each license has a 10 year term.

Maximum borrowing capacity

$ 175,000

$ 175,000

Total Available

$ 104,000

Debt instrument, interest rate

5.01%

July 2024 Notes

Debt Instrument [Line Items]

Total Available

$ 0

105,000

$ 105,000

Debt instrument, interest rate

4.77%

Debt retired

Jul. 16, 2024

Debt Instrument, redemption, description

On July 16, 2019, the Company issued $105.0 million in aggregate principal amount of 4.77% interest-bearing unsecured notes due on July 16, 2024 (the “July 2024 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.

Debt instrument, payment terms, description

Interest on the July 2024 Notes is due semiannually.

Debt instrument, collateral

The July 2024 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

Repayment of debt

$ 105,000

Repayment of accrued interest

$ 2,500

February 2025 Notes

Debt Instrument [Line Items]

Total Available

$ 50,000

50,000

$ 50,000

Debt instrument, interest rate

4.28%

Debt retired

Feb. 05, 2025

Debt Instrument, redemption, description

On February 5, 2020, the Company issued $50.0 million in aggregate principal amount of 4.28% interest-bearing unsecured notes due February 5, 2025 (the “February 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.

Debt instrument, payment terms, description

Interest on the February 2025 Notes is due semiannually.

Debt instrument, collateral

The February 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

June 2025 Notes

Debt Instrument [Line Items]

Total Available

$ 70,000

70,000

$ 70,000

Debt instrument, interest rate

4.31%

Debt retired

Jun. 03, 2025

Debt Instrument, redemption, description

On June 3, 2020, the Company issued $70.0 million in aggregate principal amount of 4.31% interest-bearing unsecured notes due June 3, 2025 (the “June 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.

Debt instrument, payment terms, description

Interest on the June 2025 Notes is due semiannually.

Debt instrument, collateral

The June 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

June 2025 3-Year Notes

Debt Instrument [Line Items]

Total Available

$ 50,000

50,000

$ 50,000

Debt instrument, interest rate

6%

Debt retired

Jun. 23, 2025

Debt Instrument, redemption, description

On June 23, 2022, the Company issued $50.0 million in aggregate principal amount of 6.00% interest-bearing unsecured notes due June 23, 2025 (the “June 2025 3-Year Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.

Debt instrument, payment terms, description

Interest on the June 2025 3-Year Notes is due semiannually.

Debt instrument, collateral

The June 2025 3-Year Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

March 2026 A Notes

Debt Instrument [Line Items]

Total Available

$ 50,000

50,000

$ 50,000

Debt instrument, interest rate

4.50%

Debt retired

Mar. 04, 2026

Debt Instrument, redemption, description

On November 4, 2020, the Company issued $50.0 million in aggregate principal amount of 4.50% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 A Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.

Debt instrument, payment terms, description

Interest on the March 2026 A Notes is due semiannually.

Debt instrument, collateral

The March 2026 A Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

March 2026 B Notes

Debt Instrument [Line Items]

Total Available

$ 50,000

50,000

$ 50,000

Debt instrument, interest rate

4.55%

Debt retired

Mar. 04, 2026

Debt Instrument, redemption, description

On March 4, 2021, the Company issued $50.0 million in aggregate principal amount of 4.55% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 B Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement pursuant note offering.

Debt instrument, payment terms, description

Interest on the March 2026 B Notes is due semiannually.

Debt instrument, collateral

The March 2026 B Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

September 2026 Notes

Debt Instrument [Line Items]

Total Available

$ 325,000

325,000

$ 325,000

Debt instrument, interest rate

2.625%

Debt retired

Sep. 16, 2026

Debt Instrument, redemption, description

On September 16, 2021, the Company issued $325.0 million in aggregate principal amount of 2.625% interest-bearing unsecured notes due September 16, 2026 (the “September 2026 Notes”), unless repurchased in accordance with the terms of the Seventh Supplemental Indenture, dated September 16, 2021.

Debt instrument, payment terms, description

Interest on the September 2026 Notes is payable semiannually in arrears on March 16 and September 16 of each year.

Debt instrument, collateral

The September 2026 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

January 2027 Notes

Debt Instrument [Line Items]

Total Available

$ 350,000

350,000

$ 350,000

Debt instrument, interest rate

3.375%

Debt retired

Jan. 20, 2027

Debt Instrument, redemption, description

The Company may redeem some or all of the January 2027 Notes at any time, or from time to time, at the redemption price set forth under the terms of the January 2027 Notes Indenture.

Debt instrument, payment terms, description

Interest on the January 2027 Notes is payable semiannually in arrears on January 20 and July 20 of each year.

Debt instrument, collateral

The January 2027 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.

2031 Asset-Backed Notes

Debt Instrument [Line Items]

Total Available

$ 119,475

150,000

$ 150,000

Debt instrument, interest rate

4.95%

Debt retired

Jul. 20, 2031

Debt instrument, payment terms, description

Interest on the 2031 Asset-Backed Notes will be paid, to the extent of funds available.

Repayment of debt

$ 30,500

Loss on extinguishment of debt

(171)

2031 Asset-Backed Notes | VIE

Debt Instrument [Line Items]

Restricted cash

3,300

17,100

2033 Notes

Debt Instrument [Line Items]

Total Available

$ 40,000

$ 40,000

$ 40,000

Debt instrument, interest rate

6.25%

Debt retired

Oct. 30, 2033

Debt Instrument, redemption, description

The Company may redeem some or all of the 2033 Notes at any time, or from time to time, at the redemption price set forth under the terms of the 2033 Notes indenture after October 30, 2023.

Debt instrument, payment terms, description

Interest on the 2033 Notes is payable quarterly in arrears on January 30, April 30, July 30, and October 30 of each year.

Debt instrument, collateral

The 2033 Notes trade on the NYSE under the symbol “HCXY.” The 2033 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company

[1] As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV.

Debt - Summary of SBIC Investme

Debt - Summary of SBIC Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) firm	Dec. 31, 2023 USD ($) firm
Debt Instrument [Line Items]
Fair value of investments (in millions)	$ 3,659,978	$ 3,248,046
HC IV
Debt Instrument [Line Items]
Number of investments held | firm	33	25
Fair value of investments (in millions)	$ 377,700	$ 331,500
Percentage of fair value of investments based on the Company's total investment portfolio	10.30%	10.20%
Tangible assets (in millions)	$ 382,900	$ 341,800
Percentage of tangible assets based on the Company's total assets	10%	10%
SBIC V
Debt Instrument [Line Items]
Number of investments held | firm	11	0
Fair value of investments (in millions)	$ 155,600	$ 0
Percentage of fair value of investments based on the Company's total investment portfolio	4.30%	0%
Tangible assets (in millions)	$ 157,800	$ 0
Percentage of tangible assets based on the Company's total assets	4.10%	0%

Income Taxes - Schedule of Accu

Income Taxes - Schedule of Accumulated Net Realized Gain (Loss) of Paid-in Capital (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Income Tax Contingency [Line Items]
Reclassified accumulated net realized gains (losses)	$ (1.3)	$ 0.8	$ 3

Income Taxes - Schedule of Undi

Income Taxes - Schedule of Undistributed Ordinary Income or Accumulated Realized Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Distributable Earnings | Net investment income
Income Tax Contingency [Line Items]
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles	$ (25,064)	$ (18,396)	$ (8,784)
Distributable Earnings | Realized Gain Loss
Income Tax Contingency [Line Items]
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles	23,249	39,317	(834)
Capital in excess of par value
Income Tax Contingency [Line Items]
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles	$ 1,815	$ (20,921)	$ 9,618

Income tax - Schedule of Tax Ch

Income tax - Schedule of Tax Character of Distributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Ordinary income	$ 286.1	$ 275.5	$ 203.7
Long-term capital gains	$ 23.4	$ 0	$ 43.1

Income tax - Schedule of Compon

Income tax - Schedule of Components of Distributable Earnings (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Accumulated capital gains	$ 11,137	$ (8,190)	$ (3,102)
Unrealized appreciation (depreciation)	(49,546)	33,029	(44,592)
Total distributable earnings	88,920	140,013	59,909
Other temporary differences
Income Tax Contingency [Line Items]
Total distributable earnings	(25,107)	(18,609)	(20,100)
Undistributed ordinary income
Income Tax Contingency [Line Items]
Total distributable earnings	$ 152,436	$ 133,783	$ 127,703

Income Taxes - Schedule of Taxa

Income Taxes - Schedule of Taxable income and Taxable Net Realized Gains Losses (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Taxable Income	$ 305	$ 283	$ 181.1
Taxable Income, Per Share (in dollars per share)	$ 1.89	$ 1.96	$ 1.45
Taxable Net Realized Gains (Losses)	$ 34.5	$ (8.2)	$ (1.7)
Taxable Net Realized Gains, Per Share (in dollars per share)	$ 0.21	$ (0.06)	$ (0.01)
Basic weighted average common shares outstanding (in shares)	161,082	144,091	125,189	114,742	111,985	101,132	90,929	82,519	73,753	69,479

Income Taxes - Schedule of Aggr

Income Taxes - Schedule of Aggregate Unrealized Appreciation of Company investment Federal Income Tax (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Aggregate Gross Unrealized Appreciation	$ 108.4	$ 118.3	$ 72.2
Aggregate Gross Unrealized Depreciation	156.5	115.9	112
Net Unrealized Appreciation (Depreciation) over cost for U.S. federal income tax purposes	(48.1)	2.4	(39.8)
Aggregate cost of securities for U.S. federal income tax purposes (in billions)	$ 3,700	$ 3,200	$ 3,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax, including excise tax, paid	$ 5,253	$ 5,267	$ 7,376
Taxes payable	$ 6,700	$ 6,000

Stockholders' Equity and Dist_3

Stockholders' Equity and Distributions - Narrative (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 12, 2024	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock outstanding (in shares)	170,575,000	157,758,000
Distributions of net investment income (in dollars per share)	$ 1.92	$ 1.90	$ 1.97
Distributions reinvested in common stock (in shares)	471,949	303,960	259,466
Ordinary Income
Class Of Stock [Line Items]
Distributions of net investment income (in dollars per share)	$ 1.81
Long-term Capital Gains
Class Of Stock [Line Items]
Distributions of net investment income (in dollars per share)	0.11
Spillover amount per share
Class Of Stock [Line Items]
Undistributed taxable earnings (in dollars per share)	$ 0.96
Common Stock
Class Of Stock [Line Items]
Common stock issued (in shares)	170,575,000	157,758,000
Common stock outstanding (in shares)	170,575,000	157,758,000	133,045,000		116,619,000
Equity distribution agreement remaining available shares (in shares)	30,000,000
Distributions reinvested in common stock (in shares)	471,000	304,000	259,000
Common Stock | 2024 Equity Distribution Agreement
Class Of Stock [Line Items]
Equity distribution agreement available shares (in shares)				30,000,000

Stockholders' Equity and Dist_4

Stockholders' Equity and Distributions - Schedule of Common Stock Shares Issued and Sold (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
	Aug. 07, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Number of Shares Issued (in shares)		11,700	22,700	14,600
Proceeds from issuance of shares		$ 218,329	$ 338,215	$ 229,659
Average price/share (in dollars per share)		$ 18.62	$ 14.88	$ 15.77
Common Stock
Class Of Stock [Line Items]
Number of Shares Issued (in shares)		11,725	22,728	14,559
Proceeds from issuance of shares		$ 12	$ 22	$ 15
Equity distribution agreement, shares sold (in shares)	6,500
Common - Gross Proceeds
Class Of Stock [Line Items]
Proceeds from issuance of shares		220,900	344,300	232,100
Common - Offering Expenses
Class Of Stock [Line Items]
Proceeds from issuance of shares		$ 2,600	$ 6,100	$ 2,400

Stockholders' Equity and Dist_5

Stockholders' Equity and Distributions - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2024

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dividends Payable [Line Items]

Per share amount (in dollars per share)

$ 1.92

$ 1.90

$ 1.97

Total Amount

$ 312,244

$ 278,301

$ 249,077

Base Dividend Q1 2022

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Feb. 16, 2022

Record Date

Mar. 09, 2022

Payment Date

Mar. 16, 2022

Per share amount (in dollars per share)

$ 0.33

Total Amount

$ 39,794

Supplemental Dividend Q1 2022

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Feb. 16, 2022

Record Date

Mar. 09, 2022

Payment Date

Mar. 16, 2022

Per share amount (in dollars per share)

$ 0.15

Total Amount

$ 18,088

Base Dividend Q2 2022

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Apr. 27, 2022

Record Date

May 17, 2022

Payment Date

May 24, 2022

Per share amount (in dollars per share)

$ 0.33

Total Amount

$ 41,245

Supplemental Dividend Q2 2022

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Apr. 27, 2022

Record Date

May 17, 2022

Payment Date

May 24, 2022

Per share amount (in dollars per share)

$ 0.15

Total Amount

$ 18,748

Base Dividend Q3 2022

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Jul. 20, 2022

Record Date

Aug. 09, 2022

Payment Date

Aug. 16, 2022

Per share amount (in dollars per share)

$ 0.35

Total Amount

$ 44,765

Supplemental Dividend Q3 2022

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Jul. 20, 2022

Record Date

Aug. 09, 2022

Payment Date

Aug. 16, 2022

Per share amount (in dollars per share)

$ 0.15

Total Amount

$ 19,185

Base Dividend Q4 2022

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Oct. 13, 2022

Record Date

Nov. 10, 2022

Payment Date

Nov. 17, 2022

Per share amount (in dollars per share)

$ 0.36

Total Amount

$ 47,472

Supplemental Dividend Q4 2022

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Oct. 13, 2022

Record Date

Nov. 10, 2022

Payment Date

Nov. 17, 2022

Per share amount (in dollars per share)

$ 0.15

Total Amount

$ 19,780

Base Dividend Q1 2023

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Feb. 09, 2023

Record Date

Mar. 02, 2023

Payment Date

Mar. 09, 2023

Per share amount (in dollars per share)

$ 0.39

Total Amount

$ 53,749

Supplemental Dividend Q1 2023

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Feb. 09, 2023

Record Date

Mar. 02, 2023

Payment Date

Mar. 09, 2023

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 11,025

Base Dividend Q2 2023

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Apr. 27, 2023

Record Date

May 16, 2023

Payment Date

May 23, 2023

Per share amount (in dollars per share)

$ 0.39

Total Amount

$ 55,910

Supplemental Dividend Q2 2023

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Apr. 27, 2023

Record Date

May 16, 2023

Payment Date

May 23, 2023

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 11,469

Base Dividend Q3 2023

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Jul. 28, 2023

Record Date

Aug. 18, 2023

Payment Date

Aug. 25, 2023

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 60,445

Supplemental Dividend Q3 2023

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Jul. 28, 2023

Record Date

Aug. 18, 2023

Payment Date

Aug. 25, 2023

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 12,089

Base Dividend Q4 2023

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Oct. 26, 2023

Record Date

Nov. 15, 2023

Payment Date

Nov. 22, 2023

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 61,345

Supplemental Dividend Q4 2023

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Oct. 26, 2023

Record Date

Nov. 15, 2023

Payment Date

Nov. 22, 2023

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 12,269

Base Dividend Q1 2024

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Feb. 08, 2024

Record Date

Feb. 28, 2024

Payment Date

Mar. 06, 2024

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 63,359

Supplemental Dividend Q1 2024

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Feb. 08, 2024

Record Date

Feb. 28, 2024

Payment Date

Mar. 06, 2024

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 12,672

Base Dividend Q2 2024

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Apr. 25, 2024

Record Date

May 14, 2024

Payment Date

May 21, 2024

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 64,912

Supplemental Dividend Q2 2024

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Apr. 25, 2024

Record Date

May 14, 2024

Payment Date

May 21, 2024

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 12,982

Base Dividend Q3 2024

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Jul. 25, 2024

Record Date

Aug. 13, 2024

Payment Date

Aug. 20, 2024

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 64,953

Supplemental Dividend Q3 2024

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Jul. 25, 2024

Record Date

Aug. 13, 2024

Payment Date

Aug. 20, 2024

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 12,990

Base Dividend Q4 2024

Dividends Payable [Line Items]

Distribution Type

Base

Declared Date

Oct. 24, 2024

Record Date

Nov. 13, 2024

Payment Date

Nov. 20, 2024

Per share amount (in dollars per share)

$ 0.40

Total Amount

$ 66,980

Supplemental Dividend Q4 2024

Dividends Payable [Line Items]

Distribution Type

Supplemental

Declared Date

Oct. 24, 2024

Record Date

Nov. 13, 2024

Payment Date

Nov. 20, 2024

Per share amount (in dollars per share)

$ 0.08

Total Amount

$ 13,396

Equity Incentive Plans - Narrat

Equity Incentive Plans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 28, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 12,800,000	$ 13,200,000	$ 13,400,000
Unrecognized compensation costs	$ 18,600,000	$ 21,700,000
Total unrecognized compensation costs expected to be recognized, period	2 years 8 months 12 days	3 years 6 months
Vested (in shares)	813,183	632,575	686,030
Granted (in shares)	1,055,861	1,565,571	632,831
Unvested performance awards (in shares)	2,060,432	1,880,409	958,985	1,037,848
Common Stock | 2018 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock authorized (in shares)	18,700,000				9,261,229
Common Stock | Director Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock authorized (in shares)	300,000				300,000
Service-Vesting Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service vesting awards granted	$ 16,800,000	$ 22,200,000	$ 11,100,000
Service-Vesting Awards | Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service vesting percentages	33.33%
Vesting period	1 year
Service-Vesting Awards | Share-Based Payment Arrangement, Tranches Two And Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
Service-Vesting Awards | Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service vesting percentages	33.33%
Service-Vesting Awards | Share-Based Payment Arrangement, Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service vesting percentages	33.33%
Service-Vesting Awards | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	7 years
Employee Stock Option Member
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 133,000	105,000	76,000
Service vesting awards granted	$ 159,000	$ 148,000	$ 166,000
Performance Vesting Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested (in shares)	0	0
Granted (in shares)	0	0
Performance DEU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested (in shares)	0	54,858	639,413
Granted (in shares)	0
Distribution equivalent units (“DEUs”) were issued with a grant date fair value		$ 700,000	$ 6,200,000
Unvested performance awards (in shares)	0	0	0
Liability Classified Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 500,000	$ 1,400,000
Unrecognized compensation costs		$ 500,000
Total unrecognized compensation costs expected to be recognized, period		3 months 18 days
Vesting period	4 years
Liability award vested	$ 3,100,000	$ 0
Accounts payable and accrued liabilities		$ 2,600,000
Other Liability Classified Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years

Equity Incentive Plans - Unvest

Equity Incentive Plans - Unvested Restricted Stock Equity Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares
Unvested shares beginning of period (in shares)	1,880,409	958,985	1,037,848
Granted (in shares)	1,055,861	1,565,571	632,831
Vested (in shares)	(813,183)	(632,575)	(686,030)
Forfeited (in shares)	(62,655)	(11,572)	(25,664)
Unvested shares end of period (in shares)	2,060,432	1,880,409	958,985
Weighted Average Grant Date Fair Value per Share
Unvested shares beginning of period (in dollars per share)	$ 14.52	$ 16.35	$ 14.51
Granted (in dollars per share)	15.77	14.07	17.24
Vested (in dollars per share)	14.54	16.15	14.40
Forfeited (in dollars per share)	12.96	15.42	16
Unvested shares end of period (in dollars per share)	$ 12.24	$ 14.52	$ 16.35

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator
Net increase (decrease) in net assets resulting from operations	$ 262,966	$ 337,484	$ 102,081
Distributions declared	312,244	278,301	249,077
Numerator for basic change in net assets per common share	260,135	334,141	99,878
Numerator for diluted change in net assets per common share	260,135	334,141	99,878
Total Earnings (loss), net of total distributions	$ (49,278)	$ 59,183	$ (146,996)
Denominator
Basic weighted average common shares outstanding (in shares)	161,082	144,091	125,189	114,742	111,985	101,132	90,929	82,519	73,753	69,479
Common shares issuable (in shares)	517	735	1,470
Weighted average common shares outstanding assuming dilution (in shares)	161,599	144,826	126,659
Change in net assets per common share:
Basic (in dollars per share)	$ 1.61	$ 2.32	$ 0.80
Diluted (in dollars per share)	$ 1.61	$ 2.31	$ 0.79
Common Stock
Numerator
Distributions declared	$ 309,413	$ 275,548	$ 246,873
Earnings (loss), net of distributions attributable to common shares	$ (49,278)	$ 58,593	$ (146,995)

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Number of Anti-diluted Shares As Calculated Based on Weighted Average Closing Price of Common Stock (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unvested common stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,105	1,496	2,085
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	4,357	0
Unvested restricted stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	298	30,028	2,116

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) shares in Thousands	Dec. 31, 2024 votePerShare $ / shares shares	Dec. 31, 2023 $ / shares shares
Earnings Per Share [Abstract]
Common stock authorized (in shares) | shares	300,000	200,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001
Common Stock, Voting Rights, Number Of Votes Per Share | votePerShare	1

Financial Highlights (Details)

Financial Highlights (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Per share data
Net asset value at beginning of period (in dollars per share)	$ 11.43	$ 10.53	$ 11.22	$ 11.26	$ 10.55	$ 9.90	$ 9.96	$ 9.90	$ 9.94	$ 10.18
Total from investment operations (in dollars per share)	1.63	2.34	0.81	1.50	2.02	1.71	0.85	0.96	0.93	0.62
Net increase (decrease) in net assets from capital share transactions (in dollars per share)	0.45	0.44	0.34	(0.08)	0.01	0.20	0.23	0.26	0.18	0.26
Distributions of net investment income (in dollars per share)	(1.79)	(1.93)	(1.63)	(1.06)	(1.03)	(1.15)	(1.26)	(1.07)	(1.14)	(1.04)
Distributions of capital gains (in dollars per share)	(0.15)	0	(0.36)	(0.49)	(0.36)	(0.18)	0	(0.18)	(0.11)	(0.22)
Stock-based compensation expense included in net investment income and other movements (in dollars per share)	0.09	0.05	0.15	0.09	0.07	0.07	0.12	0.09	0.10	0.14
Net asset value at ending of period (in dollars per share)	11.66	11.43	10.53	11.22	11.26	10.55	9.90	9.96	9.90	9.94
Ratios and supplemental data:
Per share market value at end of period (in dollars per share)	$ 20.09	$ 16.67	$ 13.22	$ 16.59	$ 14.42	$ 14.02	$ 11.05	$ 13.12	$ 14.11	$ 12.19
Total return	32.78%	42%	(10.14%)	25.62%	14.31%	39.36%	(7.56%)	1.47%	26.87%	(9.70%)
Shares outstanding at end of period (in shares)	170,575	157,758	133,045	116,619	114,726	107,364	96,501	84,424	79,555	72,118
Weighted average common shares outstanding (in shares)	161,082	144,091	125,189	114,742	111,985	101,132	90,929	82,519	73,753	69,479
Net assets at end of period	$ 1,989,581	$ 1,802,706	$ 1,401,459	$ 1,308,547	$ 1,291,704	$ 1,133,049	$ 955,444	$ 840,967	$ 787,944	$ 717,134
Ratio of total expense to average net assets	9.01%	9.92%	9.92%	9.86%	11.30%	11.95%	10.73%	11.37%	11.25%	11.55%
Ratio of net investment income before investment gains and losses to average net assets	17.50%	19.26%	13.96%	11.28%	13.64%	13.74%	11.78%	11.61%	13.65%	10.15%
Portfolio turnover rate	27.33%	31.95%	19.29%	51.58%	32.38%	31.30%	38.76%	49.03%	36.22%	46.34%
Weighted average debt outstanding	$ 1,709,469	$ 1,607,278	$ 1,468,335	$ 1,248,177	$ 1,309,903	$ 1,177,379	$ 826,931	$ 784,455	$ 635,365	$ 615,198
Weighted average debt per common share (in dollars per share)	$ 10.61	$ 11.15	$ 11.73	$ 10.88	$ 11.70	$ 11.64	$ 9.09	$ 9.51	$ 8.61	$ 8.85
Net investment income
Per share data
Net gain (loss) (in dollars per share)	2.02	2.11	1.50	1.29	1.39	1.41	1.20	1.17	1.36	1.06
Net realized gain (loss)
Per share data
Net gain (loss) (in dollars per share)	(0.20)	0.06	(0.01)	0.18	(0.50)	0.16	(0.12)	(0.32)	0.06	0.07
Net unrealized appreciation (depreciation)
Per share data
Net gain (loss) (in dollars per share)	$ (0.19)	$ 0.17	$ (0.68)	$ 0.03	$ 1.13	$ 0.14	$ (0.23)	$ 0.11	$ (0.49)	$ (0.51)

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments	$ 448,528	$ 335,333
Rent expense	$ 3,500	$ 3,400	$ 3,200

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Unfunded Contractual Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Unfunded commitments	$ 448,528	$ 335,333
Debt Investments
Loss Contingencies [Line Items]
Unfunded commitments	444,699	330,828
Debt Investments | Earnix, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	41,250	0
Debt Investments | Arcus Biosciences, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	37,500	0
Debt Investments | Thumbtack, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	30,000	40,000
Debt Investments | GoEuro Travel GmbH
Loss Contingencies [Line Items]
Unfunded commitments	26,250	0
Debt Investments | Armis, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	25,000	0
Debt Investments | Marathon Health, LLC
Loss Contingencies [Line Items]
Unfunded commitments	24,250	0
Debt Investments | Disc Medicine, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	22,500	0
Debt Investments | Pindrop Security, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	19,375	0
Debt Investments | Coronet Cyber Security Ltd.
Loss Contingencies [Line Items]
Unfunded commitments	17,000	0
Debt Investments | Locus Robotics Corp.
Loss Contingencies [Line Items]
Unfunded commitments	16,250	0
Debt Investments | Akero Therapeutics, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	15,000	15,000
Debt Investments | Dragos, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	13,000	13,000
Debt Investments | Aryaka Networks, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	12,500	0
Debt Investments | WellBe Senior Medical, LLC
Loss Contingencies [Line Items]
Unfunded commitments	12,000	0
Debt Investments | Harness, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	11,550	0
Debt Investments | Alector, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	10,500	0
Debt Investments | CoreView USA, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	10,000	0
Debt Investments | Strive Health Holdings, LLC
Loss Contingencies [Line Items]
Unfunded commitments	8,299	0
Debt Investments | Suzy, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	8,000	12,000
Debt Investments | Heron Therapeutics, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	8,000	4,000
Debt Investments | Viridian Therapeutics, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	8,000	0
Debt Investments | PayIt, LLC
Loss Contingencies [Line Items]
Unfunded commitments	8,000	0
Debt Investments | Curana Health Holdings, LLC
Loss Contingencies [Line Items]
Unfunded commitments	7,500	0
Debt Investments | ATAI Life Sciences N.V.
Loss Contingencies [Line Items]
Unfunded commitments	7,000	0
Debt Investments | Dashlane, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	5,000	2,137
Debt Investments | Babel Street
Loss Contingencies [Line Items]
Unfunded commitments	4,367	3,375
Debt Investments | AlphaSense, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	4,000	0
Debt Investments | Saama Technologies, LLC
Loss Contingencies [Line Items]
Unfunded commitments	3,875	3,875
Debt Investments | Allvue Systems, LLC
Loss Contingencies [Line Items]
Unfunded commitments	3,590	3,590
Debt Investments | LogRhythm, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	3,143	0
Debt Investments | Zappi, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	2,571	2,571
Debt Investments | Loftware, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	2,277	2,277
Debt Investments | Streamline Healthcare Solutions
Loss Contingencies [Line Items]
Unfunded commitments	2,200	2,200
Debt Investments | New Relic, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	2,176	2,176
Debt Investments | Sumo Logic, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	2,000	2,000
Debt Investments | Ceros, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	1,707	1,707
Debt Investments | LogicSource
Loss Contingencies [Line Items]
Unfunded commitments	1,209	1,209
Debt Investments | TaxCalc
Loss Contingencies [Line Items]
Unfunded commitments	1,166	0
Debt Investments | LinenMaster, LLC
Loss Contingencies [Line Items]
Unfunded commitments	1,000	1,000
Debt Investments | 3GTMS, LLC
Loss Contingencies [Line Items]
Unfunded commitments	886	1,182
Debt Investments | Main Street Rural, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	874	10,500
Debt Investments | Fortified Health Security
Loss Contingencies [Line Items]
Unfunded commitments	840	840
Debt Investments | Omeda Holdings, LLC
Loss Contingencies [Line Items]
Unfunded commitments	731	731
Debt Investments | Flight Schedule Pro, LLC
Loss Contingencies [Line Items]
Unfunded commitments	646	639
Debt Investments | DroneDeploy, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	625	6,250
Debt Investments | Dispatch Technologies, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	563	625
Debt Investments | ShadowDragon, LLC
Loss Contingencies [Line Items]
Unfunded commitments	333	333
Debt Investments | Zimperium, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	196	3,727
Debt Investments | Automation Anywhere, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	29,400
Debt Investments | Checkr Group, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	23,625
Debt Investments | Skydio, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	22,500
Debt Investments | Tarsus Pharmaceuticals, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	20,625
Debt Investments | Kura Oncology, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	19,250
Debt Investments | Tipalti Solutions Ltd.
Loss Contingencies [Line Items]
Unfunded commitments	0	10,500
Debt Investments | Next Insurance, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	10,000
Debt Investments | Senseonics Holdings, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	8,750
Debt Investments | Elation Health, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	7,500
Debt Investments | Modern Life, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	6,500
Debt Investments | Phathom Pharmaceuticals, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	6,120
Debt Investments | Brain Corporation
Loss Contingencies [Line Items]
Unfunded commitments	0	5,000
Debt Investments | Leapwork ApS
Loss Contingencies [Line Items]
Unfunded commitments	0	3,900
Debt Investments | Riviera Partners LLC
Loss Contingencies [Line Items]
Unfunded commitments	0	3,000
Debt Investments | Cutover, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	2,650
Debt Investments | Plentific Ltd
Loss Contingencies [Line Items]
Unfunded commitments	0	2,625
Debt Investments | Altumint, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	2,500
Debt Investments | Yipit, LLC
Loss Contingencies [Line Items]
Unfunded commitments	0	2,250
Debt Investments | Annex Cloud
Loss Contingencies [Line Items]
Unfunded commitments	0	1,750
Debt Investments | ThreatConnect, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	1,600
Debt Investments | Ikon Science Limited
Loss Contingencies [Line Items]
Unfunded commitments	0	1,050
Debt Investments | Agilence, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	800
Debt Investments | Constructor.io Corporation
Loss Contingencies [Line Items]
Unfunded commitments	0	625
Debt Investments | Enmark Systems, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	457
Debt Investments | Alchemer LLC
Loss Contingencies [Line Items]
Unfunded commitments	0	445
Debt Investments | Cybermaxx Intermediate Holdings, Inc.
Loss Contingencies [Line Items]
Unfunded commitments	0	390
Debt Investments | Cytracom Holdings LLC
Loss Contingencies [Line Items]
Unfunded commitments	0	72
Investment Funds And Vehicles
Loss Contingencies [Line Items]
Unfunded commitments	3,829	4,505
Investment Funds And Vehicles | Forbion Growth Opportunities Fund II C.V.
Loss Contingencies [Line Items]
Unfunded commitments	2,072	2,748
Investment Funds And Vehicles | Forbion Growth Opportunities Fund I C.V.
Loss Contingencies [Line Items]
Unfunded commitments	1,757	1,757
Adviser Funds
Loss Contingencies [Line Items]
Unfunded commitments	$ 139,700	$ 127,700

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Additional Information on Unencumbered Unfunded Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments And Contingencies [Line Items]
Total Unfunded Debt Commitments	$ 448,528	$ 335,333
Debt Investments
Commitments And Contingencies [Line Items]
2024	0	291,896
2025	251,941	3,004
2026	147,840	7,537
2027	10,553	14,078
2028	6,040	6,547
2029	24,149	3,590
2030	4,176	4,176
Total Unfunded Debt Commitments	444,699	330,828
Investment Funds And Vehicles
Commitments And Contingencies [Line Items]
2030	1,757	1,757
2032	2,072	2,748
Total Unfunded Debt Commitments	$ 3,829	$ 4,505

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Contractual Obligations (Details) - USD ($) $ in Thousands		Dec. 31, 2024	Dec. 31, 2023
Debt
Total		$ 1,768,955	$ 1,554,869
Lease and License Obligations
Total lease payments		23,809
Lease and license obligations less than 1 year		3,088
Contractual Obligations, Total
Total		1,807,241	1,596,741
Contractual obligations less than 1 year		173,246	107,539
Contractual obligations 1-3 years		897,640	695,629
Contractual obligations 3-5 years		289,379	417,248
Contractual obligations, after 5 years		446,976	376,325
Outstanding principal balances		1,783,265	1,570,000
SBA Debentures
Debt
Total	[1]	271,371	170,323
Contractual Obligations, Total
Outstanding principal balances	[1]	279,000	175,000
July 2024 Notes
Debt
Total		0	104,828
Contractual Obligations, Total
Outstanding principal balances		0	105,000
February 2025 Notes
Debt
Total		49,981	49,866
Contractual Obligations, Total
Outstanding principal balances		50,000	50,000
June 2025 Notes
Debt
Total		69,919	69,757
Contractual Obligations, Total
Outstanding principal balances		70,000	70,000
June 2025 3-Year Notes
Debt
Total		49,926	49,771
Contractual Obligations, Total
Outstanding principal balances		50,000	50,000
March 2026 A Notes
Debt
Total		49,889	49,795
Contractual Obligations, Total
Outstanding principal balances		50,000	50,000
March 2026 B Notes
Debt
Total		49,880	49,776
Contractual Obligations, Total
Outstanding principal balances		50,000	50,000
2031 Asset-Backed Notes
Debt
Total		118,769	148,544
Contractual Obligations, Total
Outstanding principal balances		119,475	150,000
2033 Notes
Debt
Total		39,043	38,935
Contractual Obligations, Total
Outstanding principal balances		40,000	40,000
September 2026 Notes
Debt
Total		323,321	322,339
Contractual Obligations, Total
Outstanding principal balances		325,000	325,000
January 2027 Notes
Debt
Total		347,265	345,935
Contractual Obligations, Total
Outstanding principal balances		350,000	350,000
SMBC Facility
Debt
Total	[2],[3]	283,591	94,000
Contractual Obligations, Total
Outstanding principal balances	[2],[3]	283,790	94,000
MUFG Bank Facility
Debt
Total		116,000	61,000
Contractual Obligations, Total
Outstanding principal balances		116,000	61,000
Debt Investments
Debt
Total		1,783,265	1,570,000
Debt Less than 1 year		170,000	105,000
Debt 1 - 3 years		891,000	689,000
Debt 3-5 years		283,790	411,000
Debt after 5 years		438,475	365,000
Lease and License Obligations
Lease and License Obligations
Total lease payments		23,976	26,741
Lease and license obligations less than 1 year		3,246	2,539
Lease and license obligations 1-3 years		6,640	6,629
Lease and license obligations 3-5 years		5,589	6,248
Lease and license obligations after 5 years		$ 8,501	$ 11,325
[1] As of December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV. In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively. “Total Available” includes $175.0 million of available commitment through the letter of credit facility as of December 31, 2024 and December 31, 2023.

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Information Related to Measurement of Operating Lease Liabilities and Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Total operating lease cost	$ 2,873	$ 2,382
Cash paid for amounts included in the measurement of lease liabilities	$ 1,865	$ 2,499
Weighted-average remaining lease term (in years)	7 years 9 months 21 days	8 years 8 months 4 days
Weighted-average discount rate	6.85%	6.79%

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Future Minimum Lease Payments under Operating Leases and Reconciliation to Operating Lease Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2025	$ 3,088
2026	3,179
2027	3,452
Thereafter	14,090
Total lease payments	23,809
Less: imputed interest & other items	(5,615)
Total operating lease liability	$ 18,194	$ 5,195

Related Party Transactions - Sc

Related Party Transactions - Schedule of Interest and Dividend Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Interest income	$ 77,850	$ 67,149	$ 52,075
Dividend income	303,475	273,677	$ 245,124
Adviser Subsidiary | Adviser Subsidiary
Related Party Transaction [Line Items]
Interest income	600	600
Dividend income	$ 6,800	$ 1,400

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Distributions paid	$ 303,475	$ 273,677	$ 245,124
Adviser Subsidiary
Related Party Transaction [Line Items]
Amounts received by the Company from the Advisor Funds relating to assigned investments	10,800	9,100
Receivable from related party	$ 100	$ 100

Related Party Transactions - _2

Related Party Transactions - Schedule of Related Party Transactions (Details) - Adviser Funds - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Investment commitments assigned to or directly committed by the Advisor Funds	$ 562.1	$ 595.6
Investment fundings assigned to, directly originated or funded by the Advisor Funds	383.2	350.7
Amounts received by the Company from the Advisor Funds relating to assigned investments	$ 6	$ 12.1

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands, shares in Millions				12 Months Ended
	Feb. 06, 2025 USD ($) $ / shares shares	Feb. 05, 2025 USD ($)	Feb. 04, 2025	Dec. 31, 2024 USD ($) quarterlyDistribution	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Subsequent Event [Line Items]
Dividends, number of quarterly distributions | quarterlyDistribution				4
Cash paid for interest expense | $				$ 77,850	$ 67,149	$ 52,075
SMBC Facility
Subsequent Event [Line Items]
Line of credit facility, unused capacity, commitment fee percentage				0.375%
February 2025 Notes
Subsequent Event [Line Items]
Cash paid for interest expense | $				$ 2,140	$ 2,140	$ 2,140
Subsequent Event
Subsequent Event [Line Items]
Dividend payable per share (in dollars per share)	$ 0.47
Sale of Stock, Number of Shares Issued in Transaction | shares	2
Sale of Stock, Consideration Received on Transaction | $	$ 39,800
Subsequent Event | SMBC Facility
Subsequent Event [Line Items]
Borrowing base threshold			160%
Borrowing base percentage		1.45%	1.475%
Line of credit facility, unused capacity, commitment fee percentage		0.40%	0.35%
Subsequent Event | February 2025 Notes
Subsequent Event [Line Items]
Repayment of long-term debt | $		$ 50,000
Cash paid for interest expense | $		$ 1,100
O 2025 Q4 Dividends | Subsequent Event
Subsequent Event [Line Items]
Dividend payable per share (in dollars per share)	$ 0.40
S 2025 A Dividends | Subsequent Event
Subsequent Event [Line Items]
Total supplemental dividends amount to be paid (in dollars per share)	0.28
S 2025 Q1 Dividends | Subsequent Event
Subsequent Event [Line Items]
Supplemental dividends amount to be paid each quarter (in dollars per share)	0.07
S 2025 Q2 Dividends | Subsequent Event
Subsequent Event [Line Items]
Supplemental dividends amount to be paid each quarter (in dollars per share)	0.07
S 2025 Q3 Dividends | Subsequent Event
Subsequent Event [Line Items]
Supplemental dividends amount to be paid each quarter (in dollars per share)	0.07
S 2025 Q4 Dividends | Subsequent Event
Subsequent Event [Line Items]
Supplemental dividends amount to be paid each quarter (in dollars per share)	$ 0.07

Schedule 12-14s - CONSOLIDATE_2

Schedule 12-14s - CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES - Summary of Schedule of Investment Gain/Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	$ 493,591	$ 460,668	$ 321,688
Fair value beginning balance	3,248,046
Total net change in unrealized appreciation (depreciation)	(31,209)	25,010	(85,063)
Fair value ending balance	3,659,978	3,248,046
Control investments
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	13,549	4,737
Realized Gain (Loss)	0	0	0
Fair value beginning balance	115,004	76,458
Gross Additions	1,734	29,175
Gross Reductions	0	(13,263)
Total net change in unrealized appreciation (depreciation)	(3,559)	22,634	(278)
Fair value ending balance	113,179	115,004	76,458
Majority Owned Control Investments | Control investments
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	12,857	4,047
Realized Gain (Loss)	0	0
Fair value beginning balance	103,487	68,416
Gross Additions	1,734	15,912
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	(3,699)	19,159
Fair value ending balance	101,522	103,487	68,416
Other Control Investments | Control investments
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	692	690
Realized Gain (Loss)	0	0
Fair value beginning balance	11,517	8,042
Gross Additions	0	13,263
Gross Reductions	0	(13,263)
Total net change in unrealized appreciation (depreciation)	140	3,475
Fair value ending balance	11,657	11,517	8,042
Coronado Aesthetics, LLC | Control investments
Investments in and Advances to Affiliates [Line Items]
Realized Gain (Loss)	0	0	0
Fair value beginning balance	262	319
Total net change in unrealized appreciation (depreciation)	(193)	(57)	(246)
Fair value ending balance	69	262	319
Coronado Aesthetics, LLC | Majority Owned Control Investments | Control investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	260	313
Gross Additions	0	0
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	(191)	(53)
Fair value ending balance	69	260	313
Coronado Aesthetics, LLC | Majority Owned Control Investments | Control investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	2	6
Gross Additions	0	0
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	(2)	(4)
Fair value ending balance	0	2	6
Gibraltar Acquisition LLC | Control investments
Investments in and Advances to Affiliates [Line Items]
Realized Gain (Loss)	0	0
Fair value beginning balance	62,512
Total net change in unrealized appreciation (depreciation)	(4,983)	9,656
Fair value ending balance	59,263	62,512
Gibraltar Acquisition LLC | Majority Owned Control Investments | Control investments | Unsecured Debt
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	5,447	3,439
Realized Gain (Loss)	0	0
Fair value beginning balance	34,478	21,700
Gross Additions	1,734	9,912
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	0	2,866
Fair value ending balance	36,212	34,478	21,700
Gibraltar Acquisition LLC | Majority Owned Control Investments | Control investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	28,034	15,244
Gross Additions	0	6,000
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	(4,983)	6,790
Fair value ending balance	23,051	28,034	15,244
Hercules Adviser LLC | Control investments
Investments in and Advances to Affiliates [Line Items]
Realized Gain (Loss)	0	0	0
Fair value beginning balance	40,713	31,153
Total net change in unrealized appreciation (depreciation)	1,477	9,560	7,163
Fair value ending balance	42,190	40,713	31,153
Hercules Adviser LLC | Majority Owned Control Investments | Control investments | Unsecured Debt
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	7,410	608
Realized Gain (Loss)	0	0
Fair value beginning balance	12,000	12,000
Gross Additions	0	0
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	0	0
Fair value ending balance	12,000	12,000	12,000
Hercules Adviser LLC | Majority Owned Control Investments | Control investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	28,713	19,153
Gross Additions	0	0
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	1,477	9,560
Fair value ending balance	30,190	28,713	19,153
Tectura Corporation | Control investments
Investments in and Advances to Affiliates [Line Items]
Realized Gain (Loss)	0	0	0
Fair value beginning balance	11,517	8,042
Total net change in unrealized appreciation (depreciation)	140	3,475	(227)
Fair value ending balance	11,657	11,517	8,042
Tectura Corporation | Other Control Investments | Control investments | Senior Secured Debt
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	692	690
Realized Gain (Loss)	0	0
Fair value beginning balance	8,250	8,042
Gross Additions	0	0
Gross Reductions	0	(13,263)
Total net change in unrealized appreciation (depreciation)	(223)	13,471
Fair value ending balance	8,027	8,250	8,042
Tectura Corporation | Other Control Investments | Control investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	3,263	0
Gross Additions	0	13,263
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	360	(10,000)
Fair value ending balance	3,623	3,263	0
Tectura Corporation | Other Control Investments | Control investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Amount of Interest and Fees Credited to Income	0	0
Realized Gain (Loss)	0	0
Fair value beginning balance	4	0
Gross Additions	0	0
Gross Reductions	0	0
Total net change in unrealized appreciation (depreciation)	3	4
Fair value ending balance	$ 7	$ 4	$ 0

Schedule 12-14s - CONSOLIDATE_3

Schedule 12-14s - CONSOLIDATED SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES - Summary of Schedule of Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments in and Advances to Affiliates [Line Items]
Investment cost	$ 3,708,877	$ 3,247,033
Investments, at fair value:	$ 3,659,978	$ 3,248,046
Control investments
Investments in and Advances to Affiliates [Line Items]
Investment owned, percent of net assets	5.69%	6.38%
Investment cost	$ 104,916	$ 103,182
Investments, at fair value:	$ 113,179	$ 115,004	$ 76,458
Control investments | Majority Owned Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment owned, percent of net assets	5.10%	5.74%
Investment cost	$ 82,503	$ 80,769
Investments, at fair value:	$ 101,522	$ 103,487	68,416
Control investments | Other Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment owned, percent of net assets	0.59%	0.64%
Investment cost	$ 22,413	$ 22,413
Investments, at fair value:	11,657	11,517	8,042
Control investments | Coronado Aesthetics, LLC
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	69	262	319
Control investments | Coronado Aesthetics, LLC | Majority Owned Control Investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	69	260	313
Control investments | Coronado Aesthetics, LLC | Majority Owned Control Investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	0	2	6
Control investments | Coronado Aesthetics, LLC | Medical Devices & Equipment | Majority Owned Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment cost	250	250
Investments, at fair value:	$ 69	$ 262
Control investments | Coronado Aesthetics, LLC | Medical Devices & Equipment | Majority Owned Control Investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	180,000	180,000
Investment cost	$ 0	$ 0
Investments, at fair value:	$ 0	$ 2
Control investments | Coronado Aesthetics, LLC | Medical Devices & Equipment | Preferred Series A | Majority Owned Control Investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	5,000,000	5,000,000
Investment cost	$ 250	$ 250
Investments, at fair value:	69	260
Control investments | Gibraltar Acquisition LLC
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	59,263	62,512
Control investments | Gibraltar Acquisition LLC | Majority Owned Control Investments | Unsecured Debt
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	36,212	34,478	21,700
Control investments | Gibraltar Acquisition LLC | Majority Owned Control Investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	23,051	28,034	15,244
Control investments | Gibraltar Acquisition LLC | Diversified Financial Services | Majority Owned Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment cost	70,218	68,484
Investments, at fair value:	$ 59,263	$ 62,512
Control investments | Gibraltar Acquisition LLC | Diversified Financial Services | Majority Owned Control Investments | Unsecured Debt One
Investments in and Advances to Affiliates [Line Items]
Maturity Date	2026-09	2026-09
Interest rate and floor, fixed	3.45%	11.50%
Interest rate paid in kind	8.05%
Principal amount	$ 26,569	$ 25,000
Investment cost	26,337	24,663
Investments, at fair value:	$ 26,337	$ 24,663
Control investments | Gibraltar Acquisition LLC | Diversified Financial Services | Majority Owned Control Investments | Unsecured Debt Two
Investments in and Advances to Affiliates [Line Items]
Maturity Date	2026-09	2026-09
Interest rate and floor, fixed	11.95%	11.95%
Principal amount	$ 10,000	$ 10,000
Investment cost	9,875	9,815
Investments, at fair value:	$ 9,875	$ 9,815
Control investments | Gibraltar Acquisition LLC | Diversified Financial Services | Majority Owned Control Investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	1	1
Investment cost	$ 34,006	$ 34,006
Investments, at fair value:	23,051	28,034
Control investments | Hercules Adviser LLC
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	42,190	40,713	31,153
Control investments | Hercules Adviser LLC | Majority Owned Control Investments | Unsecured Debt
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	12,000	12,000	12,000
Control investments | Hercules Adviser LLC | Majority Owned Control Investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	30,190	28,713	19,153
Control investments | Hercules Adviser LLC | Diversified Financial Services | Majority Owned Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment cost	12,035	12,035
Investments, at fair value:	$ 42,190	$ 40,713
Control investments | Hercules Adviser LLC | Diversified Financial Services | Majority Owned Control Investments | Unsecured Debt
Investments in and Advances to Affiliates [Line Items]
Maturity Date	2025-06	2025-06
Interest rate and floor, fixed	5%	5%
Principal amount	$ 12,000	$ 12,000
Investment cost	12,000	12,000
Investments, at fair value:	$ 12,000	$ 12,000
Control investments | Hercules Adviser LLC | Diversified Financial Services | Majority Owned Control Investments | Member Units
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	1	1
Investment cost	$ 35	$ 35
Investments, at fair value:	30,190	28,713
Control investments | Tectura Corporation
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	11,657	11,517	8,042
Control investments | Tectura Corporation | Other Control Investments | Senior Secured Debt
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	8,027	8,250	8,042
Control investments | Tectura Corporation | Other Control Investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	3,623	3,263	0
Control investments | Tectura Corporation | Other Control Investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Investments, at fair value:	7	4	$ 0
Control investments | Tectura Corporation | Consumer & Business Services | Other Control Investments
Investments in and Advances to Affiliates [Line Items]
Investment cost	22,413	22,413
Investments, at fair value:	$ 11,657	$ 11,517
Control investments | Tectura Corporation | Consumer & Business Services | Other Control Investments | Senior Secured Debt
Investments in and Advances to Affiliates [Line Items]
Maturity Date	2027-01	2024-07
Interest rate and floor, fixed	8.25%
Interest rate paid in kind		8.25%
Principal amount	$ 8,250	$ 8,250
Investment cost	8,250	8,250
Investments, at fair value:	$ 8,027	$ 8,250
Control investments | Tectura Corporation | Consumer & Business Services | Other Control Investments | Common Stock
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	414,994,863	414,994,863
Investment cost	$ 900	$ 900
Investments, at fair value:	$ 7	$ 4
Control investments | Tectura Corporation | Consumer & Business Services | Preferred Series BB | Other Control Investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	1,000,000	1,000,000
Investment cost	$ 0	$ 0
Investments, at fair value:	$ 17	$ 12
Control investments | Tectura Corporation | Consumer & Business Services | Preferred Series C | Other Control Investments | Preferred Stock
Investments in and Advances to Affiliates [Line Items]
Shares (in shares)	3,235,298	3,235,298
Investment cost	$ 13,263	$ 13,263
Investments, at fair value:	$ 3,606	$ 3,251