WTI Fund XI 10-Q 13 Nov 24 2024 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2024	Nov. 13, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Securities Act File Number	000-56631
Entity Registrant Name	WTI Fund XI, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	92-1737785
Entity Address, Address Line One	104 La Mesa Drive
Entity Address, Address Line Two	Suite 102
Entity Address, City or Town	Portola Valley
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94028
City Area Code	650
Local Phone Number	234-4300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,000
Entity Central Index Key	0001987731
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

CONDENSED STATEMENTS OF ASSETS

CONDENSED STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) - USD ($)	Sep. 30, 2024		Dec. 31, 2023
ASSETS
Loans, at estimated fair value (cost of $14,144,135 and $0, respectively)	$ 14,144,135	[1]	$ 0
Cash and cash equivalents	11,290,185		25,000
Dividend and interest receivables	224,133		0
Deferred debt facility expenses	1,882,699		0
Other assets	53,506		18,956
Total assets	27,594,658		43,956
LIABILITIES
Borrowings under debt facility	15,000,000		0
Accrued management fees	1,402,657		0
Accounts payable and other accrued liabilities	310,507		0
Total liabilities	16,713,164		292,754
NET ASSETS	10,881,494		(248,798)
Analysis of Net Assets:
Capital paid in on shares of capital stock	15,025,000		25,000
Cumulative return of capital distributions	(1,900,166)		0
Total distributable losses	(2,243,340)		(273,798)
Net assets (equivalent to $108.81 and ($2.49) per share based on 100,000 shares of capital stock outstanding - See Note 5 and Note 10)	10,881,494		(248,798)
Commitments & Contingent Liabilities:
Unexpired unfunded commitments (See Note 9)	8,420,000		0
Due to Manager
LIABILITIES
Due to Manager	$ 0		$ 292,754
[1]There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.

CONDENSED STATEMENTS OF ASSET_2

CONDENSED STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) (Parenthetical) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Jun. 25, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Cost	$ 14,144,135			$ 0
Net assets per share (in dollars per share)	$ 108.81	$ 35.84	$ (7.63)	$ (2.49)
Shares of capital stock outstanding (in shares)	100,000			100,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		8 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	[1]	Sep. 30, 2024
INVESTMENT INCOME:
Interest on loans	$ 376,841	$ 0	$ 0		$ 382,246
Other income	78,793	0	0		80,279
Total investment income	455,634	0	0		462,525
EXPENSES:
Management fees	1,402,657	0	0		1,465,648
Interest expense	383,948	0	0		383,948
Banking and professional fees	36,192	0	0		152,211
Directors' fees	33,750	0	0		101,250
Organizational costs	2,065	200,124	235,703		247,275
Other operating expenses	48,100	0	0		81,735
Total expenses	1,906,712	200,124	235,703		2,432,067
Net investment loss	(1,451,078)	(200,124)	(235,703)		(1,969,542)
Net decrease in net assets resulting from operations	$ (1,451,078)	$ (200,124)	$ (235,703)		$ (1,969,542)
Amounts per common share:
Net decrease in net assets resulting from operations per share, basic (in dollars per share)	$ (14.51)	$ (2)	$ (2.36)		$ (19.70)
Net decrease in net assets resulting from operations per share, diluted (in dollars per share)	$ (14.51)	$ (2)	$ (2.36)		$ (19.70)
Weighted average shares outstanding, basic (in shares)	100,000	100,000	100,000		100,000
Weighted average shares outstanding, diluted (in shares)	100,000	100,000	100,000		100,000
[1]From February 1, 2023, date of incorporation, through September 30, 2023.

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Investment Company, Net Assets [Roll Forward]
Beginning balance (in shares)		100,000
Beginning balance	$ 3,584,271	$ (248,798)
Net decrease in net assets resulting from operations	(1,451,078)	(1,969,542)
Return of capital to shareholder	(1,751,699)	(1,900,166)
Contributions from shareholder	$ 10,500,000	$ 15,000,000
Ending balance (in shares)	100,000	100,000
Ending balance	$ 10,881,494	$ 10,881,494
Common Stock
Investment Company, Net Assets [Roll Forward]
Beginning balance (in shares)	100,000	100,000
Beginning balance	$ 100	$ 100
Ending balance (in shares)	100,000	100,000
Ending balance	$ 100	$ 100
Additional Paid-in Capital
Investment Company, Net Assets [Roll Forward]
Beginning balance	4,524,900	24,900
Contributions from shareholder	10,500,000	15,000,000
Ending balance	15,024,900	15,024,900
Return of Capital Distributions
Investment Company, Net Assets [Roll Forward]
Beginning balance	(148,467)	0
Return of capital to shareholder	(1,751,699)	(1,900,166)
Ending balance	(1,900,166)	(1,900,166)
Total Distributable Losses
Investment Company, Net Assets [Roll Forward]
Beginning balance	(792,262)	(273,798)
Net decrease in net assets resulting from operations	(1,451,078)	(1,969,542)
Ending balance	$ (2,243,340)	$ (2,243,340)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)	9 Months Ended
	Sep. 30, 2024 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net decrease in net assets resulting from operations	$ (1,969,542)
Adjustments to reconcile net decrease in net assets resulting from operations to net cash used in operating activities:
Amortization of deferred costs related to borrowing facility	110,747
Origination of loans	(16,080,000)
Principal payments on loans, net of accretion	1,935,865
Acquisition of equity securities	(1,900,166)
Change in operating assets and liabilities:
Net increase in dividend and interest receivables	(224,133)
Net increase in other assets	(34,550)
Net increase in due to Manager, accounts payable, other accrued liabilities and accrued management fees	1,420,410
Net cash used in operating activities	(16,741,369)
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions from shareholder	15,000,000
Borrowings under debt facility	15,000,000
Payments of bank facility fees and costs	(1,993,446)
Net cash provided by financing activities	28,006,554
Net increase in cash and cash equivalents	11,265,185
CASH AND CASH EQUIVALENTS:
Beginning of period	25,000
End of period	11,290,185
CASH PAID DURING THE PERIOD:
Interest - Debt facility	58,602
NON-CASH OPERATING AND FINANCING ACTIVITIES:
Distributions of equity securities to shareholder	$ 1,900,166

CONDENSED SCHEDULE OF INVESTMEN

CONDENSED SCHEDULE OF INVESTMENTS (UNAUDITED)	Sep. 30, 2024 USD ($)
Percent of Net Assets	130%	[1]
Principal	$ 16,080,000
Cost	14,144,135
Fair Value	$ 14,144,135	[2]
Percent of Net Assets, Cash Equivalents	101.90%
Cost, Cash Equivalents	$ 11,090,185
Fair Value, Cash Equivalents	$ 11,090,185
Loan Investments, Internet [Member]
Percent of Net Assets	4.30%	[1]
Principal	$ 500,000
Cost	464,056
Fair Value	$ 464,056	[2]
Other Technology
Percent of Net Assets	38.70%	[1]
Principal	$ 4,905,000
Cost	4,210,682
Fair Value	$ 4,210,682	[2]
Software
Percent of Net Assets	76.80%	[1]
Principal	$ 9,425,000
Cost	8,351,562
Fair Value	8,351,562	[2]
Software | Merlyn Mind, Inc.
Principal	5,000,000
Cost	4,401,874
Fair Value	$ 4,401,874	[2]
Technology Services
Percent of Net Assets	8.20%	[1]
Principal	$ 1,000,000
Cost	895,660
Fair Value	$ 895,660	[2]
Wireless
Percent of Net Assets	2%	[1]
Principal	$ 250,000
Cost	222,175
Fair Value	$ 222,175	[2]
Investment, Identifier [Axis]: AI Netomi, Inc., Senior Secured
Interest Rate	12%	[3]
Principal	$ 1,750,000
Cost	1,552,437
Fair Value	$ 1,552,437	[2]
Investment, Identifier [Axis]: Carbon Ridge, Inc., Senior Secured
Interest Rate	12.50%	[3]
Principal	$ 375,000
Cost	329,050
Fair Value	$ 329,050	[2]
Investment, Identifier [Axis]: Creoate Limited , Senior Secured
Interest Rate	12.80%	[3],[4]
Principal	$ 155,000	[4]
Cost	134,590	[4]
Fair Value	$ 134,590	[2],[4]
Investment, Identifier [Axis]: First American Government Obligations Fund
Percent of Net Assets, Cash Equivalents	101.90%
Cost, Cash Equivalents	$ 11,090,185
Fair Value, Cash Equivalents	$ 11,090,185
Investment, Identifier [Axis]: Juvo Mobile, Inc., Senior Secured
Interest Rate	12.50%	[3],[5]
Principal	$ 250,000	[5]
Cost	222,175	[5]
Fair Value	$ 222,175	[2],[5]
End of Term Payment	4.50%	[5],[6]
Investment, Identifier [Axis]: Merlyn Mind, Inc., Senior Secured 1
Interest Rate	12.50%	[3]
Principal	$ 2,500,000
Cost	1,901,874
Fair Value	$ 1,901,874	[2]
Investment, Identifier [Axis]: Merlyn Mind, Inc., Senior Secured 2
Interest Rate	12.50%	[3]
Principal	$ 2,500,000
Cost	2,500,000
Fair Value	$ 2,500,000	[2]
Investment, Identifier [Axis]: Owlet Baby Care, Inc., Senior Secured
Interest Rate	12%	[3],[5]
Principal	$ 1,875,000	[5]
Cost	1,388,165	[5]
Fair Value	$ 1,388,165	[2],[5]
End of Term Payment	7.80%	[5],[6]
Investment, Identifier [Axis]: Prima Holdings Limited , Senior Secured
Interest Rate	13%	[3],[4]
Principal	$ 1,000,000	[4]
Cost	895,660	[4]
Fair Value	$ 895,660	[2],[4]
End of Term Payment	2%	[4],[6]
Investment, Identifier [Axis]: Realm Living, Inc., Senior Secured
Interest Rate	12.50%	[3]
Principal	$ 500,000
Cost	464,056
Fair Value	$ 464,056	[2]
Investment, Identifier [Axis]: Truepic Inc., Senior Secured
Interest Rate	12.30%	[3]
Principal	$ 250,000
Cost	187,091
Fair Value	$ 187,091	[2]
Investment, Identifier [Axis]: Umbra Lab, Inc., Senior Secured
Interest Rate	13.50%	[3]
Principal	$ 2,500,000
Cost	2,358,877
Fair Value	$ 2,358,877	[2]
Investment, Identifier [Axis]: Vesta Housing, Inc., Senior Secured
Interest Rate	15%	[3]
Principal	$ 750,000
Cost	680,431
Fair Value	$ 680,431	[2]
End of Term Payment	2%	[6]
Investment, Identifier [Axis]: ZeroCater, Inc., Senior Secured
Interest Rate	12.50%	[3]
Principal	$ 1,675,000
Cost	1,529,729
Fair Value	$ 1,529,729	[2]
End of Term Payment	4%	[6]
[1]The percentage of net assets that each industry group represents is shown with the industry totals (the sum of the percentages does not equal 100% because the percentages are based on net assets as opposed to total loans).[2]There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.[3]The interest rate is the designated annual interest rate exclusive of any original issue discount, fees or end of term payment.[4]Entity is not domiciled in the United States and does not have its principal place of business in the United States.[5]Indicates assets that the Fund deems “non-qualifying assets.” As of September 30, 2024, 18.6% of the Fund’s total assets represented non-qualifying assets. Under Section 55(a) of the 1940 Act, the Fund is prohibited from acquiring any additional non-qualifying assets unless, at the time of acquisition, certain specified qualifying assets (e.g., securities issued by an “eligible portfolio company,” as defined in Section 2(a)(46)) represent at least 70% of its total assets. As part of this calculation, the numerator consists of the fair value of the Fund's investments in all eligible portfolio companies, and the denominator consists of total assets less those assets described in Section 55(a)(7) of the 1940 Act.

CONDENSED SCHEDULE OF INVESTM_2

CONDENSED SCHEDULE OF INVESTMENTS (UNAUDITED) (Parenthetical)	Sep. 30, 2024
Statement of Financial Position [Abstract]
Total assets representing non-qualifying assets, percentage	18.60%

ORGANIZATION AND OPERATIONS OF

ORGANIZATION AND OPERATIONS OF THE FUND	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS OF THE FUND	ORGANIZATION AND OPERATIONS OF THE FUND WTI Fund XI, Inc. (the “Fund”) was incorporated in Maryland on February 1, 2023, as a non-diversified, closed-end management investment company that will elect to be treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”) and is managed by Westech Investment Advisors LLC (the “Manager” or “Management”) whose ultimate parent is P10, Inc., a Delaware corporation. The Fund will be dissolved on June 26, 2034 unless the Board of Directors (the “Board”) opts to elect early dissolution. One hundred percent of the stock of the Fund is held by WTI Fund XI, LLC (the “Company”). Prior to commencing investment operations on June 26, 2024, the Fund issued 100,000 shares of common stock at $0.001 par value (the “Shares”) for $25,000 to the Company. This issuance of stock was a requirement to apply for a finance lender’s license from the California Department of Financial Protection and Innovation, which was obtained on February 13, 2024. The Fund’s investment objective is to achieve superior risk-adjusted investment returns and it seeks to achieve that objective by providing debt financing to portfolio companies, most of which are private. The Fund generally expects to receive warrants to acquire equity securities in connection with its portfolio investments and generally expects to distribute these warrants to its shareholder upon receipt, or soon thereafter. The Fund also has guidelines for the percentages of total assets that are invested in different types of assets. In the Manager’s opinion, the accompanying condensed interim financial statements (hereafter referred to as “financial statements”) include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of financial position and results of operations for interim periods. Certain information and note disclosures normally included in audited annual financial statements prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) have been omitted; however, the Fund believes that the disclosures made are adequate to make the information presented not misleading. The interim results for the three and nine months ended September 30, 2024 are not necessarily indicative of what the results would be for a full year. These financial statements should be read in conjunction with the financial statements and the notes included in the Fund’s Form 10-12G/A filed on March 15, 2024 (the "Form 10").

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting and Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. As an investment company, the Fund follows accounting and reporting guidance as set forth in Topic 946 (“Financial Services - Investment Companies”) of the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification, as amended (“ASC”). Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and money market mutual funds with maturities of, or the ability to redeem or liquidate holdings, within 90 days or less. Cash and cash equivalents are held in four bank accounts with two financial institutions, Mitsubishi UFJ Financial Group, Inc. ("MUFG Bank") and U.S. Bank National Association ("US Bank"), and as a result are subject to custodial concentration risk for cash and cash equivalents. Any cash held at US Bank in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit of $250,000 is uninsured by the FDIC, while all cash held at MUFG Bank is uninsured by the FDIC. Money market mutual funds held as cash equivalents are valued at their most recently traded net asset value. Within cash and cash equivalents, as of September 30, 2024, the Fund held 11,090,185 units in the First American Government Obligations Fund Class Z (Ticker Symbol: FGZXX) valued at $1 per unit at a yield of 4.82% and $200,000 in cash, which together represented 103.76% of the net assets of the Fund. Within cash and cash equivalents, as of December 31, 2023, cash and cash equivalents consisted of $25,000 of cash held in one bank account with MUFG Bank. Interest on Loans Interest income on loans is recognized on an accrual basis using the effective interest method including amounts resulting from the accretion of discount on loans included as additional compensation as part of the loan agreements. Additionally, fees received as part of the transaction are added to the loan discount and accreted over the life of the loan. Investment Valuation The Fund accounts for loans for which market quotations are not readily available at fair value as determined in good faith by the Manager, who has been appointed as the Fund's valuation designee, pursuant to Rule 2a-5 under the 1940 Act. Subject to the oversight of the Fund's Board, all valuations are determined under the direction of the Manager, in accordance with the valuation methods described below and Rule 2a-5. As of September 30, 2024, the financial statements included nonmarketable investments of $14.1 million (or 51.3% of total assets), with the fair value determined by the Manager in the absence of readily determinable market values. As of December 31, 2023, the Fund had not yet commenced investment operations and accordingly had no nonmarketable investments. Because of the inherent uncertainty of these valuations, estimated fair values of such investments may differ significantly from the fair values that would have been used had a readily available market for the securities existed, and the differences could be material. Below is the information used by the Manager in making these estimates. Loans The Fund defines fair value as the price that would be received to sell an asset or paid to lower a liability in an orderly transaction between market participants at the measurement date. Because there is no readily available market price and no secondary market for substantially all of the debt investments made by the Fund in its borrowing portfolio companies, Management determines fair value based on a transaction that would occur in the most advantageous market, and on several factors related to each borrower, including, but not limited to, the borrower’s payment history, available cash and “burn rate,” revenues, net income or loss, the likelihood that the borrower will be able to secure additional financing in the future, and an evaluation of the general interest rate environment. The amount of any valuation adjustment considers the estimated amount and timing of cash payments of principal and interest from the borrower and/or liquidation analysis and is determined based upon a credit analysis of the borrower and an analysis of the expected recovery from the borrower, including consideration of factors such as the nature and quality of the Fund’s security interests in collateral, the estimated fair value of the Fund’s collateral, the size of the loan, and the estimated time that will elapse before the Fund achieves a recovery. Where the risk profile is consistent with the original underwriting, the cost basis of substantially all of the loans approximates fair value. Management has evaluated these factors and has concluded that the effect of deterioration in the quality of the underlying collateral, increase in size of the loan, increase in the estimated time to recovery and increase in the market coupon rate would have the effect of lowering the fair value of the current portfolio of loans. Non-Accrual Loans The Fund’s policy is to classify a loan as non-accrual when the portfolio company is delinquent for three consecutive months on its monthly loan payment or for a lesser timeframe, if, in the opinion of Management, the portfolio company either ceases or drastically curtails its operations and Management deems that it is unlikely that the loan will return to performing status. When a loan is placed on non-accrual status and the related interest is determined to not be collectible, all interest previously accrued but not collected is reversed. Any future interest received by the Fund on non-accrual loans will be recognized as interest income if and when the proceeds exceed the book value of the respective loan. If a borrower of a non-accrual loan resumes making regular payments and Management believes that such borrower has regained the ability to service the loan on a sustainable basis, the loan is reclassified back to accrual or performing status. Interest that would have been accrued during the time a loan was classified as non-accrual will be added back to the remaining payment schedule, causing a change in the effective interest rate. As of September 30, 2024 and December 31, 2023, no loans were classified as non-accrual. Warrants and Equity Securities Warrants and equity securities received in connection with loan transactions are considered to be free standing contracts that are both legally detachable and separately exercisable from the related loan transactions and are measured at fair value at the time of acquisition. Warrants are valued based on a Black-Scholes option pricing model which considers, among several factors, the underlying stock value, expected term, volatility, and risk-free interest rate. It is anticipated that such securities will be distributed by the Fund to the Company simultaneously with, or shortly following, their acquisition. The underlying asset value is estimated based on available information. Volatility, or the amount of uncertainty or risk about the size of the changes in the warrant price, is based on an index of publicly traded companies grouped by industry and which are similar in nature to the underlying portfolio companies issuing the warrant (“Industry Index”). The volatility assumption for each Industry Index is based on the average volatility for individual public companies within the portfolio company’s industry for a period of time approximating the expected life of the warrants. An increase in the volatility of the warrants used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants. The remaining expected lives of warrants are based on historical experience of the average life of the warrants, as warrants are often exercised in the event of acquisitions, mergers, or initial public offerings and terminated due to events such as bankruptcies, restructuring activities, or additional financings. These events cause the expected term to be less than the remaining contractual term of the warrants. As of September 30, 2024 and December 31, 2023, the Fund assumed the average duration of a warrant is four years. The effect of an increase in the estimated initial term of the warrants used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants. However, the estimated initial term of the warrants is one factor, of many, used in the valuation of warrants, and by itself does not have a significant impact on the results of operations. The risk-free interest rate is derived from the constant maturity tables issued by the U.S. Treasury Department. The effect of an increase in the estimated risk-free rate used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants. Deferred debt facility expenses Deferred debt facility expenses include costs incurred in conjunction with borrowings under the Fund’s debt facility. These costs are amortized over the term of the facility using the straight-line basis. The amortization of these costs is recorded as interest expense in the Condensed Statements of Operations. Other Assets and Liabilities As of September 30, 2024 and December 31, 2023, the fair values of other assets, due to Manager and accrued liabilities are estimated at their carrying values because of the short-term nature of these assets and liabilities. Commitment Fees Unearned income and commitment fees on loans are recognized using the effective-interest method over the term of the loan. Commitment fees are carried as liabilities when received for commitments upon which no draws have been made. When the first draw is made, the fee is treated as unearned income and is recognized as described above. If a draw is never made, the forfeited commitment fee less any applicable legal costs becomes recognized as other income after the commitment expires. Organizational costs Organizational costs are expensed as incurred. Organizational costs include expenses related to the formation of the Fund. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This change is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Fund is currently evaluating the impact of adopting this guidance with respect to the financial statements and disclosures.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES The Fund provides asset-based financing primarily to start-up and emerging growth venture-backed companies pursuant to commitments whereby the Fund agrees to finance assets and provide working or growth capital up to a specified amount for the term of the commitment, upon the terms and subject to the conditions specified by such commitment. Even though these loans are generally secured by the assets of the borrowers, the Fund in most cases is subject to the credit risk of such companies. As of September 30, 2024, the Fund's investments in loans were primarily to companies based within the United States and were diversified among borrowers in the industry segments shown in the Condensed Schedule of Investments. All loans are senior to unsecured creditors and other secured creditors. As of December 31, 2023, the Fund held no investments. The Fund defines fair value 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; that is, an exit price. The exit price assumes the asset or liability was exchanged in an orderly transaction; it was not a forced liquidation or distressed sale. Because there is no readily available market price and no secondary market for substantially all of the loan investments made by the Fund to borrowing portfolio companies, Management determines fair value (or estimated exit value) based on a transaction that would occur in the most advantageous market and several factors related to each borrower. Loan balances in the Condensed Schedule of Investments are listed by borrower. Typically, a borrower’s balance will be composed of several loans drawn under a commitment made by the Fund with the interest rate on each loan fixed at the time each loan is funded. Each loan drawn under a commitment has a different maturity date and amount. The following table shows the weighted-average interest rate of the loans: Performing Loans For the Three Months Ended September 30, 2024 For the Period Ended September 30, 2024* Weighted-Average Interest Rate – Cash 13.22 % 12.64 % Weighted Average Interest Rate – Non-Cash 4.39 % 4.17 % Weighted-Average Interest Rate 17.61 % 16.81 % * From June 26, 2024, commencement of investment operations, through September 30, 2024. All loans held as of September 30, 2024 are classified as performing loans. Interest is calculated using the effective interest method, and rates earned by the Fund will fluctuate based on many factors including early payoffs, volatility of values ascribed to warrants and new loans funded during the period. Warrants and equity securities received in connection with loan transactions are measured at fair value at the time of acquisition; the non-cash portion of interest income represents the accretion of the discount of these warrants over the life of the loan. The risk profile of a loan changes when events occur that impact the credit analysis of the borrower and loan as discussed in the Fund’s loan accounting policy. Such changes result in the fair value adjustments made to the individual loans, which in accordance with U.S. GAAP, would be based on the price that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants at the measurement date. Where the risk profile is consistent with the original underwriting, the cost basis of substantially all of the loans approximates fair value. All loans as of September 30, 2024 were pledged as collateral for the debt facility, and the Fund’s borrowings are generally collateralized by all assets of the Fund. As of September 30, 2024, the Fund had unexpired unfunded commitments to borrowers of $8.4 million . Refer to Note 6 for additional information about the debt facility which was established in August 2024, therefore no comparative information is provided. Valuation Hierarchy Under the FASB ASC Topic 820 (“Fair Value Measurement”), the Fund categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Fund’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows: Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date. Level 2 Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. There were no transfers in or out of Level 1, 2 or 3 during the nine months ended September 30, 2024. The Fund’s cash equivalents were valued at the traded net asset value of the money market fund. As a result, these measurements are classified as Level 1. The Fund’s borrowings under the debt facility are also classified as Level 2, because the carrying values of the borrowings are based on rates that are observable at commonly quoted intervals, which are Level 2 inputs, and that approximate fair values. The Fund’s loan investments are individually negotiated and unique, and because there is little to no market in which these assets trade, the unobservable inputs for these assets are valued using estimated exit values. As a result, the Fund's loan investments are classified as Level 3. As of December 31, 2023, the Fund had not yet commenced investment operations and held no investments. Therefore, no comparative information related to fair value measurements is included in the disclosures that follow below. The following tables provide quantitative information about the Fund’s Level 3 fair value measurements of the Fund’s investments by industry as of September 30, 2024. In addition to the techniques and inputs noted in the tables below, the Fund may also use other valuation techniques and methodologies when determining its fair value measurements. Investment Type - Level 3 Loan Investments Fair Value at September 30, 2024 Valuation Techniques / Methodologies Unobservable Input Range Weighted Average (a) Internet $ 464,056 Most advantageous market analysis Most advantageous market coupon rate 17% * 17% Other Technology 4,210,682 Most advantageous market analysis Most advantageous market coupon rate 17% - 30% 22% Software 8,351,562 Most advantageous market analysis Most advantageous market coupon rate 18% - 30% 19% Technology Services 895,660 Most advantageous market analysis Most advantageous market coupon rate 20%* 20% Wireless 222,175 Most advantageous market analysis Most advantageous market coupon rate 20% * 20% Total Loan Investments $ 14,144,135 ( a) The weighted-average most advantageous market coupon rates were calculated using the relative fair value of the loans. * There is only one loan within this industry that utilizes this valuation technique. The following table presents the balances of assets and liabilities as of September 30, 2024 measured at fair value on a recurring basis: As of September 30, 2024 ASSETS: Level 1 Level 2 Level 3 Total Loans † $ — $ — $ 14,144,135 $ 14,144,135 Cash equivalents 11,090,185 — — 11,090,185 Total $ 11,090,185 $ — $ 14,144,135 $ 25,234,320 LIABILITIES: Level 1 Level 2 Level 3 Total Borrowings under debt facility $ — $ 15,000,000 $ — $ 15,000,000 Total $ — $ 15,000,000 $ — $ 15,000,000 † For a detailed listing of borrowers comprising this amount, please refer to the Condensed Schedule of Investments. The following table provides a summary of changes in Level 3 assets measured at fair value on a recurring basis: For the Three Months Ended September 30, 2024 For the Nine Months Ended September 30, 2024 Loans Warrants Stocks Loans Warrants Stocks Beginning balance $ 2,344,346 $ — $ — $ — $ — $ — Acquisitions and originations 13,580,000 1,276,114 475,585 16,080,000 1,424,581 475,585 Principal payments on loans, net of accretion (1,780,211) — — (1,935,865) — — Distributions to shareholder — (1,276,114) (475,585) — (1,424,581) (475,585) Ending balance $ 14,144,135 $ — $ — $ 14,144,135 $ — $ — There we no changes in unrealized gains (losses) from the loans still held as of September 30, 2024. There were no Level 3 liabilities as of September 30, 2024.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHAREBasic earnings (loss) per share are computed by dividing net increase (decrease) in net assets resulting from operations by the weighted average common shares outstanding. Diluted earnings (loss) per share are computed by dividing net increase (decrease) in net assets resulting from operations by the weighted average common shares outstanding, including the dilutive effects of potential common shares (e.g., stock options). The Fund has no instruments that would be potential common shares; thus, reported basic and diluted earnings (loss) per share are the same.

CAPITAL STOCK

CAPITAL STOCK	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK As of both September 30, 2024 and December 31, 2023, there were 10,000,000 shares of $0.001 par value common stock authorized, and 100,000 shares issued and outstanding. As of September 30, 2024 and December 31, 2023, the Company has contributed $15,025,000 and $25,000, respectively, to the Fund. For the nine months ended September 30, 2024, the Fund has distributed $1,900,166 of equity securities to the Company. There were no distributions made during the nine months ended September 30, 2023.

DEBT FACILITY

DEBT FACILITY	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT FACILITY	DEBT FACILITY The 1940 Act requires a BDC to meet certain levels of asset coverage with respect to its outstanding “senior securities,” which typically consist of outstanding borrowings under credit facilities and other debt instruments. BDCs are generally required to have an asset coverage of at least 200% but are permitted to increase the amount of indebtedness they may incur by lowering the asset coverage requirement from 200% to 150% if they make certain disclosures and obtain the approval by either (1) a “required majority,” as defined in Section 57(o) of the 1940 Act, of the BDC’s board of directors, including a majority of disinterested directors, with effectiveness one year after the date of such approval or (2) a majority of votes cast at a special or annual meeting of the BDC’s shareholders at which a quorum is present, which is effective the day after such stockholder approval. On September 28, 2023, the Fund’s sole shareholder, the Company, approved a reduced asset coverage ratio of 150% for the Fund as permitted in Section 61(a)(2) of the 1940 Act. As of September 30, 2024, the Fund’s asset coverage for borrowings was 172%. On August 1, 2024, the Fund entered into a loan and security agreement with MUFG Bank Ltd. as the administrative agent and with lenders named therein that established a secured revolving credit facility in an initial amount of up to $250,000,000 with the option to request that borrowing availability be increased up to $500,000,000, subject to further negotiation and credit approval. Borrowings by the Fund are collateralized by (i) all portfolio investments and substantially all other assets held by the Fund and its subsidiaries, (ii) all equity interests of the Company in the Fund and all direct or indirect subsidiaries of the Fund, and (iii) the pledge of the uncalled capital commitments of all investors in the Company. Loans under the facility may be, at the option of the Fund, a Reference Rate Loan or a SOFR Loan, calculated at Term SOFR or Daily Compounded SOFR (each as defined below). The facility terminates on August 1, 2027, but can be accelerated in the event of default, such as the failure by the Fund to make timely interest or principal payments. The Fund pays interest on its borrowings. Borrowings under the facility, at the Fund’s discretion, will bear interest at an annual rate of either a (i) Reference Rate, plus an Applicable Reference Rate Margin (such loan, a "Reference Rate Loan"), (ii) Term SOFR plus the Applicable SOFR Margin (such loan, a "Term SOFR Loan") or (iii) Daily Compounded SOFR plus the Applicable SOFR Margin (such loan, a "Daily Compounded SOFR Loan"). As of September 30, 2024, the Fund’s outstanding borrowings were entirely Term SOFR Loans. The interest period for each Term SOFR Loan shall at the option of the Fund be fixed at one three The Fund also pays a fee on the unused portion of the facility. When the Fund is using 50% or more of the maximum amount available under the loan agreement, the applicable commitment fee is 0.25% of the unused portion of the loan facility; otherwise, the applicable commitment fee is 0.50% of the unused portion. The Fund pays the unused credit line fee quarterly. As of September 30, 2024, $15,000,000 was outstanding under the facility. As of September 30, 2024, the Term SOFR rates were as follows: 1 - month Term SOFR 4.8454 % 3 - month Term SOFR 4.6037 % 6 - month Term SOFR 4.2452 % 30-day Average SOFR 5.1633 % Bank fees and other costs of $1,993,446 incurred in connection with the acquisition of the facility have been capitalized and are amortized to interest expense on a straight-line basis over the expected life of the facility, which is expected to terminate on August 1, 2027. As of September 30, 2024, the remaining unamortized fees and costs amounted to $1,882,699. The facility is revolving and as such does not have a specified repayment schedule, although advances are secured by the assets of the Fund and thus repayments will be required as assets decline. The facility contains various covenants including financial covenants related to: (i) minimum debt service coverage ratio, (ii) interest coverage ratio, (iii) unfunded commitment ratio, (iv) maximum quarterly loan loss reserve ratio, (v) maximum annual loan loss reserve ratio and (vi) maximum loan loss test. There are also various restrictive covenants, including limitations on: (i) the incurrence of liens, (ii) consolidations, mergers and asset sales and (iii) capital expend itures. The Fund is also required to maintain derivative instruments covering a notional principal amount equal to at least 20% of the outstanding borrowings if subscription borrowing base is less than 25% of the Fund's borrowing base. As of September 30, 2024, Management is not aware of instances of non-compliance with financial covenants and the Fund is not yet required to comply with the minimum derivative requirement. The following is the summary of the outstanding facility draws as of September 30, 2024: Loan Type September 30, 2024 Maturity Date Applicable SOFR Margin Range Weighted Average All-In Interest Rate (a) Term SOFR Loan $ 15,000,000 August 1, 2027 2.504% - 2.506% 7.355% Total Outstanding $ 15,000,000 (a)

MANAGEMENT FEE AND RELATED PART

MANAGEMENT FEE AND RELATED PARTIES	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
MANAGEMENT FEE AND RELATED PARTIES	MANAGEMENT FEE AND RELATED PARTIES Management Fee As compensation for its services to the Fund, the Manager, from the date of the first capital contribution, June 25, 2024, receives an investment management fee from the Fund (the “Management Fee”). The aggregate annual amount of Management Fee for each annual period (which is comprised of four whole fiscal quarters and which, in the case of the first year, commenced on the first day of the first fiscal quarter following the first capital contribution) calculated as a percentage of committed capital, is as follows: Management Fee Year 1 1.575% Year 2 1.600% Year 3 1.575% Year 4 1.500% Year 5 1.250% Year 6 0.900% Year 7 0.600% Year 8 0.350% Year 9 0.150% There will be no Management Fee payable after the ninth-year anniversary of the first capital contribution date. For the period from June 25, 2024 (initial capital call due date) through September 30, 2024, the Management Fee was calculated at 1.575% of the Company's committed capital. Management Fees of $1,402,657 and $1,465,648 were recognized as expenses for the three and nine months ended September 30, 2024, respectively. There were no Management Fees for the period from February 1, 2023, date of incorporation, through December 31, 2023, as the Fund had not commenced investment operations. Related Parties Certain officers and directors of the Fund also serve as officers and directors of the Manager. The Articles of Incorporation of the Fund provide for indemnification of directors, officers, employees and agents (including the Manager) of the Fund to the fullest extent permitted by applicable state law and the 1940 Act, including the advance of expenses and reasonable counsel fees. The Articles of Incorporation of the Fund also contain a provision eliminating personal liability of a Fund director or officer to the Fund or its shareholder for monetary damages for certain breaches of their duty of care. For this reason, the Fund acquired a directors and officers insurance policy. Liabilities to the Manager The liability due to Manager is comprised of prepaid expenses, organizational costs, directors' fees and other expenses paid by the Manager on behalf of the Fund. The Fund reimbursed the Manager shortly after the commencement of investment operations. As of September 30, 2024 and December 31, 2023, the total amount due to the Manager was $0 and $292,754, respectively. Transactions with WTI Fund X, Inc. ("Fund X") The Manager also serves as investment manager for Fund X. So long as Fund X has capital available to invest in loan transactions with final maturities earlier than December 31, 2031 (the date on which Fund X’s existence automatically expires), the Fund may invest in each portfolio company in which Fund X invests, subject to the approval of the Fund's Board. The Manager’s allocation process is designed to allocate investment opportunities fairly and equitably among the Fund and Fund X over time, and subject to board approval, may be based on a methodology taking into account investment pace, the remaining commitment periods and other relevant factors. The ability of the Fund to co-invest with Fund X, and other clients advised by the Manager, is subject to the conditions (“Conditions”) with which the funds are currently complying while seeking certain exemptive relief from the Securities and Exchange Commission (“SEC”) from the provisions of Sections 17(d) and 57 of the 1940 Act and Rule 17d-1 thereunder. To the extent that clients, other than Fund X, advised by the Manager (but in which the Manager has no proprietary interest) invest in opportunities available to the Fund, the Manager will allocate such opportunities among the Fund and such other clients in a manner deemed fair and equitable considering all of the circumstances in accordance with the Conditions. Intercreditor Agreements In all transactions in which the Fund and other funds managed by the Manager invest or those in which another lender(s) has either invested or may later invest (or in the event a successor fund is raised, in which the Fund and the successor fund invest), it is expected that the Fund and other funds managed by the Manager (or the successor fund as the case may be), and/or the other lender(s) will enter into an intercreditor agreement pursuant to which the Fund and other funds managed by the Manager (or the successor fund), and/or the other lender(s), along with any predecessor funds which still have a balance outstanding, will cooperate in pursuing their remedies following a default by the common borrower. Generally, under such intercreditor agreements, each party would agree that its security interest would be treated in parity with the security interest of the other party, regardless of which security interest would have priority under applicable law. Accordingly, proceeds realized from the sale of any collateral or the exercise of any other creditor’s rights will be allocated between the Fund and other funds managed by the Manager, and any predecessor funds as described above, pro rata in accordance with the amounts of their respective investments. An exception to the foregoing arrangement would occur in situations where, for example, one of the lenders financed specific items of equipment collateral; in that case, usually the lender who financed the specific assets will have a senior lien on that asset, and the other lenders will have a junior priority lien (even though they may ratably share liens of equal priority on other assets of the common borrower). As a result of such intercreditor agreements, the Fund may have less flexibility in pursuing its remedies following a default than it would have had had there been no intercreditor agreement, and the Fund may therefore realize fewer proceeds. In addition, because the Fund and Fund X (or the successor fund) invest at the same time in the same borrower, such borrower would be required to service two loans rather than one. Any additional administrative costs or burdens resulting therefrom may make the Fund a less attractive lender and may make it more difficult for the Fund to acquire such loans.

TAX STATUS

TAX STATUS	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
TAX STATUS	TAX STATUS The Fund had no taxable income for the nine months ended September 30, 2024 and for the period from February 1, 2023, date of incorporation, through September 30, 2023. The Fund anticipates electing to be treated as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code and anticipates operating in a manner so as to qualify for the tax treatment applicable to RICs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	CONTINGENCIES Unexpired Unfunded Commitments As of September 30, 2024, the Fund’s unexpired unfunded commitments to borrowers totaled $8.4 million. Because venture loans are privately negotiated transactions, investments in these assets are relatively illiquid. It is the Manager’s experience that not all unexpired unfunded commitments will be used by the borrowers. Many credit agreements contain provisions which are milestone dependent and not all borrowers will achieve these milestones. Additionally, the Fund’s credit agreements contain provisions that give relief from funding obligations in the event the borrower has a material adverse change to its financial condition. Therefore, the unexpired unfunded commitments do not necessarily reflect future cash requirements or future investments for the Fund. The table below is the Fund’s unexpired unfunded commitments as of September 30, 2024: Borrower Industry Unexpired Unfunded Commitment as of September 30, 2024 Expiration Date AI Netomi, Inc. Software $ 750,000 01/31/2025 Carbon Ridge, Inc. Other Technology 375,000 04/01/2025 Creoate Limited Other Technology 1,095,000 05/31/2025 Juvo Mobile, Inc. Wireless 250,000 11/15/2024 Owlet Baby Care, Inc. Other Technology 1,875,000 08/15/2025 Prima Holdings Limited Technology Services 1,000,000 04/30/2026 Truepic Inc. Software 1,000,000 12/31/2024 Vesta Housing, Inc. Software 1,250,000 05/31/2025 ZeroCater, Inc. Software 825,000 01/31/2025 Total $ 8,420,000 There were no unfunded commitments as of December 31, 2023. Contingencies In the normal course of business, the Manager may enter into certain contracts, on behalf of the Fund, that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made that have not yet occurred. Currently, no such claims exist or are expected to arise and, accordingly, the Fund has not accrued any liability in connection with such indemnifications.

FINANCIAL HIGHLIGHTS

FINANCIAL HIGHLIGHTS	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
FINANCIAL HIGHLIGHTS	FINANCIAL HIGHLIGHTS U.S. GAAP requires disclosure of financial highlights of the Fund. As the Fund began investment operations on June 26, 2024, the measurement period will also begin on this date, and is calculated through September 30, 2024. The total rate of return is defined as the return based on the change in value during the period of a theoretical investment made at the beginning of the period. The total rate of return assumes a constant rate of return for the Fund during the period reported and weights each cash flow by the amount of time held in the Fund. This required methodology differs from an internal rate of return. The ratios of expenses and net investment loss to average net assets, calculated below, are annualized and are computed based upon the aggregate weighted average net assets of the Fund for the period presented. Net investment loss is inclusive of all investment income, net of expenses and excludes realized or unrealized gains and losses. Beginning and ending net asset values per share are based on the beginning and ending number of shares outstanding. Other per share information is calculated based upon the aggregate weighted average net assets of the Fund for the periods presented. The following per share data and ratios have been derived from the information provided in the financial statements: For the Three Months Ended September 30, 2024 For the Period Ended September 30, 2024 (a) Total return (b) (13.60) % (13.71 %) Per share amounts: Net asset value, beginning of period $ 35.84 $ (7.63) (c) Net investment loss (14.51) (14.56) Net decrease in net assets resulting from operations (14.51) (14.56) Return of capital to shareholder (17.52) (19.00) Contributions from shareholder 105.00 150.00 Net asset value, end of period 108.81 108.81 Net assets, end of period 10,881,494 $ 10,881,494 Ratios to average net assets: Expenses (d) 60.39 % 59.27 % Net investment loss (d) (45.96 %) (45.03 %) Portfolio turn-over rate — % — % Average debt outstanding $ 11,750,000 $ — (a) From June 26, 2024, commencement of investment operations, through September 30, 2024. (b) Total return amount presented above is not annualized. (c) Purchase price per share of $0.25 (See Note 5) reduced by $7.88 per share of organizational costs and expenses incurred prior to commencement of investment operations. (d) Annualized, except for organizational costs of $2,065 for both the three months ended September 30, 2024 and for the period from June 26, 2024 to September 30, 2024.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Management evaluated subsequent events through the date of this Quarterly Report on Form 10-Q and determined that no subsequent events had occurred that would require accrual or disclosure in the financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		8 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023		Sep. 30, 2024
Pay vs Performance Disclosure
Net decrease in net assets resulting from operations	$ (1,451,078)	$ (200,124)	$ (235,703)	[1]	$ (1,969,542)
[1]From February 1, 2023, date of incorporation, through September 30, 2023.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 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

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting and Use of Estimates
Use of Estimates	Basis of Accounting and Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and money market mutual funds with maturities of, or the ability to redeem or liquidate holdings, within 90 days or less. Cash and cash equivalents are held in four bank accounts with two financial institutions, Mitsubishi UFJ Financial Group, Inc. ("MUFG Bank") and U.S. Bank National Association ("US Bank"), and as a result are subject to custodial concentration risk for cash and cash equivalents. Any cash held at US Bank in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit of $250,000 is uninsured by the FDIC, while all cash held at MUFG Bank is uninsured by the FDIC.
Interest on Loans	Interest on Loans
Investment Valuation	Investment Valuation The Fund accounts for loans for which market quotations are not readily available at fair value as determined in good faith by the Manager, who has been appointed as the Fund's valuation designee, pursuant to Rule 2a-5 under the 1940 Act. Subject to the oversight of the Fund's Board, all valuations are determined under the direction of the Manager, in accordance with the valuation methods described below and Rule 2a-5. As of September 30, 2024, the financial statements included nonmarketable investments of $14.1 million (or 51.3% of total assets), with the fair value determined by the Manager in the absence of readily determinable market values. As of December 31, 2023, the Fund had not yet commenced investment operations and accordingly had no nonmarketable investments. Because of the inherent uncertainty of these valuations, estimated fair values of such investments may differ significantly from the fair values that would have been used had a readily available market for the securities existed, and the differences could be material. Below is the information used by the Manager in making these estimates. Loans The Fund defines fair value as the price that would be received to sell an asset or paid to lower a liability in an orderly transaction between market participants at the measurement date. Because there is no readily available market price and no secondary market for substantially all of the debt investments made by the Fund in its borrowing portfolio companies, Management determines fair value based on a transaction that would occur in the most advantageous market, and on several factors related to each borrower, including, but not limited to, the borrower’s payment history, available cash and “burn rate,” revenues, net income or loss, the likelihood that the borrower will be able to secure additional financing in the future, and an evaluation of the general interest rate environment. The amount of any valuation adjustment considers the estimated amount and timing of cash payments of principal and interest from the borrower and/or liquidation analysis and is determined based upon a credit analysis of the borrower and an analysis of the expected recovery from the borrower, including consideration of factors such as the nature and quality of the Fund’s security interests in collateral, the estimated fair value of the Fund’s collateral, the size of the loan, and the estimated time that will elapse before the Fund achieves a recovery. Where the risk profile is consistent with the original underwriting, the cost basis of substantially all of the loans approximates fair value. Management has evaluated these factors and has concluded that the effect of deterioration in the quality of the underlying collateral, increase in size of the loan, increase in the estimated time to recovery and increase in the market coupon rate would have the effect of lowering the fair value of the current portfolio of loans. Non-Accrual Loans The Fund’s policy is to classify a loan as non-accrual when the portfolio company is delinquent for three consecutive months on its monthly loan payment or for a lesser timeframe, if, in the opinion of Management, the portfolio company either ceases or drastically curtails its operations and Management deems that it is unlikely that the loan will return to performing status. When a loan is placed on non-accrual status and the related interest is determined to not be collectible, all interest previously accrued but not collected is reversed. Any future interest received by the Fund on non-accrual loans will be recognized as interest income if and when the proceeds exceed the book value of the respective loan. If a borrower of a non-accrual loan resumes making regular payments and Management believes that such borrower has regained the ability to service the loan on a sustainable basis, the loan is reclassified back to accrual or performing status. Interest that would have been accrued during the time a loan was classified as non-accrual will be added back to the remaining payment schedule, causing a change in the effective interest rate. As of September 30, 2024 and December 31, 2023, no loans were classified as non-accrual. Warrants and Equity Securities Warrants and equity securities received in connection with loan transactions are considered to be free standing contracts that are both legally detachable and separately exercisable from the related loan transactions and are measured at fair value at the time of acquisition. Warrants are valued based on a Black-Scholes option pricing model which considers, among several factors, the underlying stock value, expected term, volatility, and risk-free interest rate. It is anticipated that such securities will be distributed by the Fund to the Company simultaneously with, or shortly following, their acquisition. The underlying asset value is estimated based on available information. Volatility, or the amount of uncertainty or risk about the size of the changes in the warrant price, is based on an index of publicly traded companies grouped by industry and which are similar in nature to the underlying portfolio companies issuing the warrant (“Industry Index”). The volatility assumption for each Industry Index is based on the average volatility for individual public companies within the portfolio company’s industry for a period of time approximating the expected life of the warrants. An increase in the volatility of the warrants used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants. The remaining expected lives of warrants are based on historical experience of the average life of the warrants, as warrants are often exercised in the event of acquisitions, mergers, or initial public offerings and terminated due to events such as bankruptcies, restructuring activities, or additional financings. These events cause the expected term to be less than the remaining contractual term of the warrants. As of September 30, 2024 and December 31, 2023, the Fund assumed the average duration of a warrant is four years. The effect of an increase in the estimated initial term of the warrants used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants. However, the estimated initial term of the warrants is one factor, of many, used in the valuation of warrants, and by itself does not have a significant impact on the results of operations. The risk-free interest rate is derived from the constant maturity tables issued by the U.S. Treasury Department. The effect of an increase in the estimated risk-free rate used in the Black-Scholes option pricing model would have the effect of increasing the fair value of the warrants.
Deferred debt facility expenses	Deferred debt facility expenses Deferred debt facility expenses include costs incurred in conjunction with borrowings under the Fund’s debt facility. These costs are amortized over the term of the facility using the straight-line basis. The amortization of these costs is recorded as interest expense in the Condensed Statements of Operations.
Other Assets and Liabilities	Other Assets and Liabilities As of September 30, 2024 and December 31, 2023, the fair values of other assets, due to Manager and accrued liabilities are estimated at their carrying values because of the short-term nature of these assets and liabilities.
Commitment Fees	Commitment Fees Unearned income and commitment fees on loans are recognized using the effective-interest method over the term of the loan. Commitment fees are carried as liabilities when received for commitments upon which no draws have been made. When the first draw is made, the fee is treated as unearned income and is recognized as described above. If a draw is never made, the forfeited commitment fee less any applicable legal costs becomes recognized as other income after the commitment expires.
Organizational costs	Organizational costs
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This change is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures and providing new disclosure requirements for entities with a single reportable segment, among other new disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Fund is currently evaluating the impact of adopting this guidance with respect to the financial statements and disclosures.
Earnings (Loss) Per Share	Basic earnings (loss) per share are computed by dividing net increase (decrease) in net assets resulting from operations by the weighted average common shares outstanding. Diluted earnings (loss) per share are computed by dividing net increase (decrease) in net assets resulting from operations by the weighted average common shares outstanding, including the dilutive effects of potential common shares (e.g., stock options). The Fund has no instruments that would be potential common shares; thus, reported basic and diluted earnings (loss) per share are the same.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Weighted Average Interest Rate of Performing and All Loans	The following table shows the weighted-average interest rate of the loans: Performing Loans For the Three Months Ended September 30, 2024 For the Period Ended September 30, 2024* Weighted-Average Interest Rate – Cash 13.22 % 12.64 % Weighted Average Interest Rate – Non-Cash 4.39 % 4.17 % Weighted-Average Interest Rate 17.61 % 16.81 %
Schedule of Fair Value Measurement Inputs and Valuation Techniques		The following tables provide quantitative information about the Fund’s Level 3 fair value measurements of the Fund’s investments by industry as of September 30, 2024. In addition to the techniques and inputs noted in the tables below, the Fund may also use other valuation techniques and methodologies when determining its fair value measurements. Investment Type - Level 3 Loan Investments Fair Value at September 30, 2024 Valuation Techniques / Methodologies Unobservable Input Range Weighted Average (a) Internet $ 464,056 Most advantageous market analysis Most advantageous market coupon rate 17% * 17% Other Technology 4,210,682 Most advantageous market analysis Most advantageous market coupon rate 17% - 30% 22% Software 8,351,562 Most advantageous market analysis Most advantageous market coupon rate 18% - 30% 19% Technology Services 895,660 Most advantageous market analysis Most advantageous market coupon rate 20%* 20% Wireless 222,175 Most advantageous market analysis Most advantageous market coupon rate 20% * 20% Total Loan Investments $ 14,144,135 ( a) The weighted-average most advantageous market coupon rates were calculated using the relative fair value of the loans. * There is only one loan within this industry that utilizes this valuation technique.
Assets and Liabilities Measured at Fair Value on Recurring Basis		The following table presents the balances of assets and liabilities as of September 30, 2024 measured at fair value on a recurring basis: As of September 30, 2024 ASSETS: Level 1 Level 2 Level 3 Total Loans † $ — $ — $ 14,144,135 $ 14,144,135 Cash equivalents 11,090,185 — — 11,090,185 Total $ 11,090,185 $ — $ 14,144,135 $ 25,234,320 LIABILITIES: Level 1 Level 2 Level 3 Total Borrowings under debt facility $ — $ 15,000,000 $ — $ 15,000,000 Total $ — $ 15,000,000 $ — $ 15,000,000 † For a detailed listing of borrowers comprising this amount, please refer to the Condensed Schedule of Investments.
Summary of Changes in Level 3 Assets Measured at Fair Value on Recurring Basis		The following table provides a summary of changes in Level 3 assets measured at fair value on a recurring basis: For the Three Months Ended September 30, 2024 For the Nine Months Ended September 30, 2024 Loans Warrants Stocks Loans Warrants Stocks Beginning balance $ 2,344,346 $ — $ — $ — $ — $ — Acquisitions and originations 13,580,000 1,276,114 475,585 16,080,000 1,424,581 475,585 Principal payments on loans, net of accretion (1,780,211) — — (1,935,865) — — Distributions to shareholder — (1,276,114) (475,585) — (1,424,581) (475,585) Ending balance $ 14,144,135 $ — $ — $ 14,144,135 $ — $ —

DEBT FACILITY (Tables)

DEBT FACILITY (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Term SOFR Rate	As of September 30, 2024, the Term SOFR rates were as follows: 1 - month Term SOFR 4.8454 % 3 - month Term SOFR 4.6037 % 6 - month Term SOFR 4.2452 % 30-day Average SOFR 5.1633 %
Schedule of Outstanding Facility Draws	The following is the summary of the outstanding facility draws as of September 30, 2024: Loan Type September 30, 2024 Maturity Date Applicable SOFR Margin Range Weighted Average All-In Interest Rate (a) Term SOFR Loan $ 15,000,000 August 1, 2027 2.504% - 2.506% 7.355% Total Outstanding $ 15,000,000 (a)

MANAGEMENT FEE AND RELATED PA_2

MANAGEMENT FEE AND RELATED PARTIES (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Management Fees	Management Fee Year 1 1.575% Year 2 1.600% Year 3 1.575% Year 4 1.500% Year 5 1.250% Year 6 0.900% Year 7 0.600% Year 8 0.350% Year 9 0.150%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Unexpired Unfunded Commitments	The table below is the Fund’s unexpired unfunded commitments as of September 30, 2024: Borrower Industry Unexpired Unfunded Commitment as of September 30, 2024 Expiration Date AI Netomi, Inc. Software $ 750,000 01/31/2025 Carbon Ridge, Inc. Other Technology 375,000 04/01/2025 Creoate Limited Other Technology 1,095,000 05/31/2025 Juvo Mobile, Inc. Wireless 250,000 11/15/2024 Owlet Baby Care, Inc. Other Technology 1,875,000 08/15/2025 Prima Holdings Limited Technology Services 1,000,000 04/30/2026 Truepic Inc. Software 1,000,000 12/31/2024 Vesta Housing, Inc. Software 1,250,000 05/31/2025 ZeroCater, Inc. Software 825,000 01/31/2025 Total $ 8,420,000

FINANCIAL HIGHLIGHTS (Tables)

FINANCIAL HIGHLIGHTS (Tables)	9 Months Ended
	Sep. 30, 2024
Investment Company [Abstract]
Schedule of Financial Highlights	The following per share data and ratios have been derived from the information provided in the financial statements: For the Three Months Ended September 30, 2024 For the Period Ended September 30, 2024 (a) Total return (b) (13.60) % (13.71 %) Per share amounts: Net asset value, beginning of period $ 35.84 $ (7.63) (c) Net investment loss (14.51) (14.56) Net decrease in net assets resulting from operations (14.51) (14.56) Return of capital to shareholder (17.52) (19.00) Contributions from shareholder 105.00 150.00 Net asset value, end of period 108.81 108.81 Net assets, end of period 10,881,494 $ 10,881,494 Ratios to average net assets: Expenses (d) 60.39 % 59.27 % Net investment loss (d) (45.96 %) (45.03 %) Portfolio turn-over rate — % — % Average debt outstanding $ 11,750,000 $ — (a) From June 26, 2024, commencement of investment operations, through September 30, 2024. (b) Total return amount presented above is not annualized. (c) Purchase price per share of $0.25 (See Note 5) reduced by $7.88 per share of organizational costs and expenses incurred prior to commencement of investment operations. (d) Annualized, except for organizational costs of $2,065 for both the three months ended September 30, 2024 and for the period from June 26, 2024 to September 30, 2024.

ORGANIZATION AND OPERATIONS O_2

ORGANIZATION AND OPERATIONS OF THE FUND (Details) - USD ($)		9 Months Ended
	Feb. 01, 2023	Sep. 30, 2024	Dec. 31, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Investment company, regulated status [true false]		true
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
WTI Fund XI, LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of shares issued in sale (in shares)	100,000
Common stock, par value (in dollars per share)	$ 0.001
Proceeds from purchase of shares	$ 25,000
WTI Fund XI, Inc. | WTI Fund XI, LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		100%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) bank_account financial_institution $ / shares shares		Sep. 30, 2024 USD ($) bank_account financial_institution $ / shares shares		Dec. 31, 2023 USD ($)
Summary of Investment Holdings [Line Items]
Investment Company, Accounting and Reporting under Topic 946 [true false]			true
Number of bank accounts | bank_account	4		4
Number of financial institutions | financial_institution	2		2
Issuance of shares (in dollars per share) | $ / shares	$ 0.25
Cash	$ 200,000		$ 200,000
Percent of net assets, cash and cash equivalents	103.76%		103.76%
Cash and cash equivalents	$ 11,290,185		$ 11,290,185		$ 25,000
Loans	$ 14,144,135	[1]	$ 14,144,135	[1]	$ 0
Percent of assets	51.30%		51.30%
Average duration of warrant (in years)	4 years		4 years		4 years
First American Government Obligations Fund
Summary of Investment Holdings [Line Items]
Shares purchased in period (in shares) | shares	11,090,185		11,090,185
Issuance of shares (in dollars per share) | $ / shares			$ 1
Yield			4.82%
[1]There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.

FAIR VALUE DISCLOSURES - Weight

FAIR VALUE DISCLOSURES - Weighted Average Interest Rate of Performing and All Loans (Details) - Weighted Average - Performing Loans	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted-Average Interest Rate – Cash	13.22%	12.64%
Weighted Average Interest Rate – Non-Cash	4.39%	4.17%
Weighted-Average Interest Rate	17.61%	16.81%

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details)	Sep. 30, 2024 USD ($)
Fair Value Disclosures [Abstract]
Unexpired unfunded commitments	$ 8,420,000

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) loan		Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 14,144,135	[1]	$ 0
Number of loans within the industry | loan	1
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 14,144,135
Level 3 | Internet | Most advantageous market analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 464,056
Level 3 | Internet | Most advantageous market analysis | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.17
Level 3 | Internet | Most advantageous market analysis | Weighted Average | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.17
Level 3 | Other Technology | Most advantageous market analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 4,210,682
Level 3 | Other Technology | Most advantageous market analysis | Minimum | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.17
Level 3 | Other Technology | Most advantageous market analysis | Maximum | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.30
Level 3 | Other Technology | Most advantageous market analysis | Weighted Average | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.22
Level 3 | Software | Most advantageous market analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 8,351,562
Level 3 | Software | Most advantageous market analysis | Minimum | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.18
Level 3 | Software | Most advantageous market analysis | Maximum | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.30
Level 3 | Software | Most advantageous market analysis | Weighted Average | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.19
Level 3 | Technology Services | Most advantageous market analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 895,660
Level 3 | Technology Services | Most advantageous market analysis | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.20
Level 3 | Technology Services | Most advantageous market analysis | Weighted Average | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.20
Level 3 | Wireless | Most advantageous market analysis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 222,175
Level 3 | Wireless | Most advantageous market analysis | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.20
Level 3 | Wireless | Most advantageous market analysis | Weighted Average | Most advantageous market coupon rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.20
[1]There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.

FAIR VALUE DISCLOSURES - Assets

FAIR VALUE DISCLOSURES - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2024		Dec. 31, 2023
ASSETS:
Loans	$ 14,144,135	[1]	$ 0
Cash equivalents	11,090,185
Total	25,234,320
LIABILITIES:
Borrowings under debt facility	15,000,000
Total	15,000,000
Level 1
ASSETS:
Loans	0
Cash equivalents	11,090,185
Total	11,090,185
LIABILITIES:
Borrowings under debt facility	0
Total	0
Level 2
ASSETS:
Loans	0
Cash equivalents	0
Total	0
LIABILITIES:
Borrowings under debt facility	15,000,000
Total	15,000,000
Level 3
ASSETS:
Loans	14,144,135
Cash equivalents	0
Total	14,144,135
LIABILITIES:
Borrowings under debt facility	0
Total	$ 0
[1]There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.

FAIR VALUE DISCLOSURES - Summar

FAIR VALUE DISCLOSURES - Summary of Changes in Level 3 Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,344,346	$ 0
Acquisitions and originations	13,580,000	16,080,000
Principal payments on loans, net of accretion and Distributions to shareholder	(1,780,211)	(1,935,865)
Ending balance	14,144,135	14,144,135
Warrants
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	0
Acquisitions and originations	1,276,114	1,424,581
Principal payments on loans, net of accretion and Distributions to shareholder	(1,276,114)	(1,424,581)
Ending balance	0	0
Stocks
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	0
Acquisitions and originations	475,585	475,585
Principal payments on loans, net of accretion and Distributions to shareholder	(475,585)	(475,585)
Ending balance	$ 0	$ 0

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Shares authorized (in shares)	10,000,000		10,000,000
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Shares issued (in shares)	100,000		100,000
Shares of capital stock outstanding (in shares)	100,000		100,000
Distribution of equity securities to shareholder	$ 1,900,166	$ 0
WTI Fund XI, LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Contributed capital to the Fund	$ 15,025,000		$ 25,000

DEBT FACILITY - Narrative (Deta

DEBT FACILITY - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Aug. 01, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Asset coverage ratio	172%
Borrowings under debt facility	$ 15,000,000		$ 0
Unamortized fees and costs	$ 1,882,699		$ 0
Revolving Credit Facility | Loan Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 250,000,000
Additional borrowing capacity		500,000,000
Revolving Credit Facility | Loan Agreement | Line of Credit
Debt Instrument [Line Items]
Applicable variable rate margin, contributor one	2.50%
Applicable variable rate margin, contributor two	3%
Percentage of maximum amount available	50%
Borrowings under debt facility	$ 15,000,000
Bank fees and other costs		$ 1,993,446
Unamortized fees and costs	$ 1,882,699
Minimum Hedge Percentage	20%
Subscription Secured Borrowings threshold percentage	25%
Revolving Credit Facility | Loan Agreement | Line of Credit | Variable Rate Component One
Debt Instrument [Line Items]
Interest period (in months)	1 month
Revolving Credit Facility | Loan Agreement | Line of Credit | Variable Rate Component Two
Debt Instrument [Line Items]
Interest period (in months)	3 months
Revolving Credit Facility | Loan Agreement | Line of Credit | Variable Rate Component Three
Debt Instrument [Line Items]
Interest period (in months)	6 months
Revolving Credit Facility | Loan Agreement | Line of Credit | Minimum
Debt Instrument [Line Items]
Commitment fee	0.25%
Revolving Credit Facility | Loan Agreement | Line of Credit | Maximum
Debt Instrument [Line Items]
Commitment fee	0.50%

DEBT FACILITY - Summary of the

DEBT FACILITY - Summary of the Outstanding Facility Draws (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Borrowings under debt facility	$ 15,000,000	$ 0
Revolving Credit Facility | Loan Agreement | Line of Credit
Debt Instrument [Line Items]
Borrowings under debt facility	$ 15,000,000
Debt, Weighted Average Interest Rate	7.355%
Revolving Credit Facility | Loan Agreement | Line of Credit | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.504%
Revolving Credit Facility | Loan Agreement | Line of Credit | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.506%

MANAGEMENT FEE AND RELATED PA_3

MANAGEMENT FEE AND RELATED PARTIES - Management Fees (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Related Party Transaction [Line Items]
Management Fee	1.575%
Year 1
Related Party Transaction [Line Items]
Management Fee		1.575%
Year 2
Related Party Transaction [Line Items]
Management Fee		1.60%
Year 3
Related Party Transaction [Line Items]
Management Fee		1.575%
Year 4
Related Party Transaction [Line Items]
Management Fee		1.50%
Year 5
Related Party Transaction [Line Items]
Management Fee		1.25%
Year 6
Related Party Transaction [Line Items]
Management Fee		0.90%
Year 7
Related Party Transaction [Line Items]
Management Fee		0.60%
Year 8
Related Party Transaction [Line Items]
Management Fee		0.35%
Year 9
Related Party Transaction [Line Items]
Management Fee		0.15%

MANAGEMENT FEE AND RELATED PA_4

MANAGEMENT FEE AND RELATED PARTIES - Narrative (Details) - USD ($)	3 Months Ended			8 Months Ended		9 Months Ended	11 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	[1]	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Management fee payable	$ 1,402,657	$ 1,402,657				$ 1,402,657	$ 0
Management fee rate		1.575%
Management fee expense	1,402,657		$ 0	$ 0		1,465,648	0
Due to Manager
Related Party Transaction [Line Items]
Due to Manager	0	$ 0				0	$ 292,754
After Year 9
Related Party Transaction [Line Items]
Management fee payable	$ 0	$ 0				$ 0
[1]From February 1, 2023, date of incorporation, through September 30, 2023.

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Unexpired unfunded commitments to borrowers	$ 8,420,000	$ 0

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Unexpired Unfunded Commitments (Details)	Sep. 30, 2024 USD ($)
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	$ 8,420,000
Investment, Identifier [Axis]: AI Netomi, Inc., Software
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	750,000
Investment, Identifier [Axis]: Carbon Ridge, Inc., Other Technology
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	375,000
Investment, Identifier [Axis]: Creoate Limited, Other Technology
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	1,095,000
Investment, Identifier [Axis]: Juvo Mobile, Inc., Wireless
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	250,000
Investment, Identifier [Axis]: Owlet Baby Care, Inc., Other Technology
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	1,875,000
Investment, Identifier [Axis]: Prima Holdings Limited, Technology Services
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	1,000,000
Investment, Identifier [Axis]: Truepic Inc., Software
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	1,000,000
Investment, Identifier [Axis]: Vesta Housing, Inc., Software
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	1,250,000
Investment, Identifier [Axis]: ZeroCater, Inc., Software
Financial Support for Nonconsolidated Legal Entity [Line Items]
Unexpired Unfunded Commitment	$ 825,000

FINANCIAL HIGHLIGHTS (Details)

FINANCIAL HIGHLIGHTS (Details) - USD ($)	3 Months Ended				8 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	[1]	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Investment Company [Abstract]
Total return	(13.60%)	(13.71%)
Per share amounts:
Net asset value, beginning of period (in dollars per share)	$ 35.84	$ (7.63)					$ (2.49)
Net investment loss (in dollars per share)	(14.51)	(14.56)
Net decrease in net assets resulting from operations (in dollars per share)	(14.51)	(14.56)
Return of capital to shareholder (in dollars per share)	(17.52)	(19)
Contributions from shareholder (in dollars per share)	105	150
Net asset value, end of period (in dollars per share)	$ 108.81	$ 108.81	$ 108.81				$ 108.81
Net assets, end of year	$ 10,881,494	$ 10,881,494	$ 10,881,494				$ 10,881,494	$ 3,584,271	$ (248,798)
Ratios to average net assets:
Expenses	60.39%	59.27%
Net investment loss	(45.96%)	(45.03%)
Portfolio turn-over rate	0%	0%
Average debt outstanding	$ 11,750,000	$ 0
Issuance of shares (in dollars per share)			$ 0.25
Organizational costs and expenses price per share			$ 7.88
Organizational costs	$ 2,065	$ 2,065		$ 200,124	$ 235,703		$ 247,275
[1]From February 1, 2023, date of incorporation, through September 30, 2023.