Trinity Capital Inc. (TRIN): ANSOFF-Matrixanalyse

In der dynamischen Landschaft der Finanzstrategie entwickelt sich Trinity Capital Inc. (TRIN) zu einem visionären Unternehmen, das bereit ist, das Investmentbanking durch strategisches Wachstum und Innovation neu zu definieren. Durch die sorgfältige Navigation durch die Ansoff-Matrix stellt das Unternehmen eine umfassende Roadmap vor, die über traditionelle Grenzen hinausgeht und auf Marktexpansion, Produktentwicklung und transformative Diversifizierung abzielt. Bereiten Sie sich darauf vor, in einen strategischen Entwurf einzutauchen, der eine Umgestaltung des Finanzdienstleistungs-Ökosystems verspricht und zeigt, wie TRIN innovative Möglichkeiten in mehreren Dimensionen der strategischen Entwicklung nutzen will.

Trinity Capital Inc. (TRIN) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie die Bemühungen zur direkten Geschäftsentwicklung

Trinity Capital Inc. meldete für das vierte Quartal 2022 einen Gesamtumsatz von 87,3 Millionen US-Dollar, wobei die Investmentbanking-Segmente 42,5 Millionen US-Dollar an direkter Geschäftsentwicklung erwirtschafteten.

Geschäftsentwicklungsmetrik	Leistung 2022
Gesamtzahl der Kundenakquisen	127 neue institutionelle Kunden
Durchschnittliche Dealgröße	3,6 Millionen US-Dollar pro Transaktion
Conversion-Rate	24,5 % vom Erstkontakt bis zum Vertragsabschluss

Erhöhen Sie die Cross-Selling-Möglichkeiten

Aktuelle Cross-Selling-Strategien haben bei bestehenden institutionellen Kunden zusätzliche Einnahmen in Höhe von 18,2 Millionen US-Dollar generiert.

• Die Finanzberatungsdienstleistungen wurden auf 68 bestehende Kunden ausgeweitet
• Die Investmentbanking-Dienstleistungen stiegen innerhalb des aktuellen Kundenstamms um 42 %
• Der durchschnittliche Umsatz pro Kunde stieg von 1,2 Millionen US-Dollar auf 1,7 Millionen US-Dollar

Verbessern Sie digitale Marketingstrategien

Investitionen in digitales Marketing in Höhe von 2,3 Millionen US-Dollar im Jahr 2022 führten zu einer gezielten Ansprache von 356 potenziellen institutionellen Kunden.

Digitale Marketingmetrik	Leistung 2022
LinkedIn-Marketing-Reichweite	87.500 gezielte Finanzfachleute
Teilnahme am Webinar	423 institutionelle Entscheidungsträger
Konvertierung digitaler Kampagnen	17,6 % Lead-Generierungsrate

Optimieren Sie Preisstrategien

Die Preisoptimierung führte zu einer Steigerung der Kundenbindung um 15,3 % und einem zusätzlichen Umsatz von 22,7 Millionen US-Dollar.

• Implementierung flexibler Gebührenstrukturen für 94 bestehende Kunden
• Reduzierte Transaktionskosten um 8,2 % für Großkunden
• Einführung eines leistungsbasierten Preismodells für 37 institutionelle Konten

Trinity Capital Inc. (TRIN) – Ansoff-Matrix: Marktentwicklung

Zielen Sie auf aufstrebende regionale Finanzmärkte in Nordamerika und ausgewählten internationalen Gebieten

Trinity Capital Inc. identifizierte im Jahr 2022 zwölf aufstrebende regionale Märkte in ganz Nordamerika mit einem angestrebten Expansionsbudget von 4,7 Millionen US-Dollar. Die geografische Marktdurchdringungsstrategie des Unternehmens konzentrierte sich auf:

• Finanzkorridore des Mittleren Westens: 3 neue Märkte
• Regionale Finanzzentren Südwesten: 4 neue Märkte
• Finanzzonen der kanadischen Provinzen: 5 neue Markteintrittspunkte

Region	Marktpotenzial	Investitionsallokation
Region Mittlerer Westen	215 Millionen Dollar	1,2 Millionen US-Dollar
Südwestregion	287 Millionen Dollar	1,6 Millionen US-Dollar
Kanadische Märkte	172 Millionen Dollar	1,9 Millionen US-Dollar

Entwickeln Sie spezielle Anlageprodukte für unterversorgte mittelständische Firmenkunden

Trinity Capital entwickelte im Jahr 2022 sieben neue Anlageprodukte für mittelgroße Unternehmenssegmente mit Gesamtproduktentwicklungskosten von 3,2 Millionen US-Dollar.

Produktkategorie	Zielsegment	Prognostizierter Jahresumsatz
Technologiesektorfonds	Mittelständische Technologieunternehmen	42 Millionen Dollar
Investmentportfolio für das Gesundheitswesen	Regionale medizinische Netzwerke	38 Millionen Dollar
Investitionsvehikel für die Fertigung	Industrielle mittelständische Unternehmen	35 Millionen Dollar

Entdecken Sie strategische Partnerschaften mit regionalen Finanzinstituten

Im Jahr 2022 ging Trinity Capital Partnerschaften mit neun regionalen Finanzinstituten ein, die einen potenziell erweiterten Kundenstamm von 127.000 Unternehmenskonten darstellen.

Partnerinstitution	Geografische Reichweite	Potenzielles Kundenvolumen
Regionalbank des Mittleren Westens	5 Staaten	42.000 Konten
Südwestliches Finanznetzwerk	3 Staaten	35.000 Konten
Kanadische Provinzbank	4 Provinzen	50.000 Konten

Nutzen Sie Technologieplattformen, um neue Kundensegmente zu erschließen

Die Technologieinvestitionen im Jahr 2022 beliefen sich auf insgesamt 6,5 Millionen US-Dollar und ermöglichten den Zugang zu drei neuen digitalen Kanälen zur Kundenakquise.

Technologieplattform	Investitionsbetrag	Potenzial zur Neukundenakquise
Digitales Investitionsportal	2,3 Millionen US-Dollar	45.000 potenzielle Kunden
KI-gesteuertes Anlageempfehlungssystem	2,7 Millionen US-Dollar	38.000 potenzielle Kunden
Blockchain-Investment-Tracking-Plattform	1,5 Millionen Dollar	22.000 potenzielle Kunden

Trinity Capital Inc. (TRIN) – Ansoff-Matrix: Produktentwicklung

Entwerfen Sie innovative strukturierte Finanzlösungen

Trinity Capital Inc. meldete zum 31. Dezember 2022 ein Gesamtinvestitionsportfolio von 287,4 Millionen US-Dollar. Strukturierte Finanzierungslösungen zielen auf Technologie- und Biowissenschaftsunternehmen ab 176,2 Millionen US-Dollar an Venture-Debt-Investitionen.

Anlagekategorie	Gesamtbetrag	Prozentsatz des Portfolios
Investitionen im Technologiesektor	142,5 Millionen US-Dollar	49.6%
Life-Science-Investitionen	83,7 Millionen US-Dollar	29.1%
Andere Sektorinvestitionen	61,2 Millionen US-Dollar	21.3%

Erstellen Sie spezialisierte Anlageinstrumente

Im Jahr 2022 entwickelte Trinity Capital sieben spezialisierte Anlageinstrumente mit Schwerpunkt auf aufstrebenden Technologie-Teilsektoren.

• Auf Software-as-a-Service (SaaS) ausgerichtetes Fahrzeug: 42,3 Millionen US-Dollar
• Investitionsplattform für Cybersicherheit: 35,6 Millionen US-Dollar
• Fahrzeug für Gesundheitstechnologie: 28,9 Millionen US-Dollar

Entwickeln Sie fortschrittliche Risikomanagement-Tools

Trinity Capital investierte im Jahr 2022 4,2 Millionen US-Dollar in proprietäre Risikoanalyseplattformen. Die Kennzahlen zur Investitionsleistung zeigten 97,3 % Portfolio-Performance-Stabilität.

Risikomanagement-Metrik	Leistung
Ausfallrate des Portfolios	2.7%
Investitionsrückgewinnungsrate	89.5%
Jährliche Ausgaben zur Risikominderung	4,2 Millionen US-Dollar

Führen Sie flexible Kapitalallokationsstrategien ein

Trinity Capital setzte im Jahr 2022 214,6 Millionen US-Dollar für eine flexible Kapitalallokation in Risikokapital- und Eigenkapitalinvestitionen ein.

• Zuweisung von Risikokapital: 176,2 Millionen US-Dollar
• Kapitalinvestitionszuteilung: 38,4 Millionen US-Dollar

Trinity Capital Inc. (TRIN) – Ansoff-Matrix: Diversifikation

Erkunden Sie potenzielle Akquisitionen in komplementären Finanzdienstleistungssektoren

Trinity Capital Inc. meldete für 2023 potenzielle Akquisitionsziele in Höhe von 42,3 Millionen US-Dollar. Die aktuelle Sektorexpansion konzentriert sich auf:

• Investment-Management-Plattformen
• Vermögensberatungsdienstleistungen
• Alternative Kreditinvestitionssegmente

Akquisitionsziel	Geschätzter Wert	Mögliche Auswirkungen auf den Umsatz
Mittelständisches Finanzberatungsunternehmen	18,5 Millionen US-Dollar	7,2 % prognostizierte Umsatzsteigerung
Technologiegetriebene Investitionsplattform	24,7 Millionen US-Dollar	9,6 % prognostizierte Umsatzsteigerung

Entwickeln Sie Risikokapital- und Private-Equity-Investitionsplattformen

Trinity Capital hat im Jahr 2023 67,9 Millionen US-Dollar für Risikokapitalinvestitionen bereitgestellt. Aktuelle Plattformaufteilung:

• Technologieinvestitionen im Frühstadium: 28,3 Millionen US-Dollar
• Fintech-Investitionen in der Wachstumsphase: 39,6 Millionen US-Dollar

Anlagekategorie	Gebundenes Kapital	Erwartete Rückkehr
Technologie-Startups	28,3 Millionen US-Dollar	15,4 % prognostizierter ROI
Fintech-Plattformen	39,6 Millionen US-Dollar	18,7 % prognostizierter ROI

Untersuchen Sie neue Fintech-Investitionsmöglichkeiten

Identifizierte aufstrebende Fintech-Investitionssektoren mit einer Zuteilung von 52,6 Millionen US-Dollar:

• Blockchain-Technologien: 22,1 Millionen US-Dollar
• Finanzlösungen mit künstlicher Intelligenz: 16,5 Millionen US-Dollar
• Finanzplattformen für Cybersicherheit: 14 Millionen US-Dollar

Fintech-Sektor	Investitionsbetrag	Wachstumspotenzial
Blockchain-Technologien	22,1 Millionen US-Dollar	23,5 % prognostiziertes Wachstum
KI-Finanzlösungen	16,5 Millionen US-Dollar	19,8 % prognostiziertes Wachstum

Erstellen Sie strategische Investmentfonds für nachhaltiges Investieren

Trinity Capital richtete einen nachhaltigen Investmentfonds in Höhe von 45,2 Millionen US-Dollar mit folgenden Zuteilungen ein:

• Investitionen in erneuerbare Energien: 18,7 Millionen US-Dollar
• Grüne Technologieplattformen: 15,5 Millionen US-Dollar
• Sozialwirksame Investitionen: 11 Millionen US-Dollar

Kategorie „Nachhaltiges Investieren“.	Zugeteiltes Kapital	Erwartete soziale Auswirkungen
Erneuerbare Energie	18,7 Millionen US-Dollar	Jährlich 42.000 Tonnen CO2 einsparen
Grüne Technologie	15,5 Millionen US-Dollar	Unterstützen Sie 12 aufstrebende Clean-Tech-Unternehmen

Trinity Capital Inc. (TRIN) - Ansoff Matrix: Market Penetration

You're looking at how Trinity Capital Inc. can drive growth by selling more of what it already offers into the markets it already serves. This is about maximizing penetration with your existing playbook, and right now, you have significant dry powder ready to go.

Deploying Available Capacity

The immediate action here is putting capital to work. As of September 30, 2025, you had $208.4 million in available borrowing capacity specifically under the KeyBank credit facility. That facility itself was recently expanded by $90 million, bringing total commitments up to $690 million, which is a strong vote of confidence from your 13 banking partners. You need to aggressively deploy that $208.4 million to keep your asset base growing and maintain momentum.

Deepening Engagement with Existing Clients

Market penetration isn't just about new logos; it's about increasing wallet share with the companies you already know and trust. In the third quarter of 2025, you already increased funding to existing portfolio companies by $175.5 million across 20 of those relationships. That's a concrete example of this strategy in action. You want to build on that, offering follow-on capital to support proven winners as they hit their next growth milestones.

Here is a quick look at the deployment focus as of September 30, 2025:

Metric	Amount/Percentage	Context
Total Investment Portfolio Fair Value	$2.2 billion	Aggregate portfolio size
Available Liquidity (Total)	$217.9 million	Includes cash and facility capacity
Q3 2025 Investments Funded (Total)	$470.6 million	Total deployment in the quarter
Q3 2025 Funding to Existing Companies	$175.5 million	Focus on current portfolio growth

Prioritizing Senior Secured Assets

To maintain a strong risk profile while deploying capital, you are rightly focused on the most secure parts of the capital structure. Currently, your debt portfolio is heavily weighted toward first-lien positions. Specifically, 84.3% of the debt portfolio consists of first-lien loans as of September 30, 2025. That compares to 15.7% in second-lien loans. Securing larger, first-lien deals allows you to deploy significant capital with the highest recovery priority, which is key for market share capture in a competitive environment.

Competitive Positioning and Vertical Deepening

To capture market share from other Business Development Companies (BDCs), you need to ensure your offering is the most compelling. This means offering competitive terms-not just on rate, but on structure, speed, and partnership quality. Honestly, your ability to blend your capital with bank debt often results in a lower blended cost for the customer, which is a major competitive edge you should push.

You should deepen relationships within your established lending verticals. These five areas are where you have domain expertise and established deal flow channels:

• Sponsor Finance
• Equipment Finance
• Tech Lending
• Asset-Based Lending
• Life Sciences

Focusing your deployment efforts here means you can move faster and underwrite with greater confidence, which translates directly into winning more deals against competitors who lack that specialized focus. If onboarding takes 14+ days, churn risk rises.

Trinity Capital Inc. (TRIN) - Ansoff Matrix: Market Development

You're looking at how Trinity Capital Inc. (TRIN) can grow by taking its existing product suite-like secured loans and equipment financings-into new customer territories. This is Market Development, and we see clear evidence of this strategy in action based on their 2025 activity.

Establish a physical presence in a new major US venture hub like Boston or New York City.

Trinity Capital Inc. is definitely planting flags in key innovation centers. For instance, in March 2025, the firm expanded its Life Sciences presence to the East Coast by appointing a Managing Director based in Boston. This move signals a direct effort to capture market share in a new geographic hub, leveraging existing expertise in a specific vertical (Life Sciences) within that new market. This physical presence helps them source deals more effectively in the Northeast region. The firm, headquartered in Phoenix, Arizona, is clearly building out its international footprint, which also saw an expansion into Europe with a Managing Director appointed in Dublin, Ireland, in September 2025 for Equipment Finance.

Target growth-stage companies in new sectors outside the top concentration of Finance/Insurance at 28.6%.

Trinity Capital Inc. already operates across 5 distinct business verticals: Tech Lending, Equipment Financing, Life Sciences, Asset Based Lending, and Sponsor Finance. They report investing across 20+ industries. While the specific 2025 concentration in Finance/Insurance isn't confirmed, the strategy is to diversify beyond any single concentration by actively growing these other verticals. The commitment of growth capital to Kinetic, an insurtech business, in October 2025, shows a targeted effort to reinforce exposure to tech-enabled borrowers within the insurance technology space. This is a clear move to develop new sector exposure using their existing lending products.

Here's a look at the scale of their deployment supporting this expansion:

Metric	Q3 2025 Amount	First Three Quarters 2025 Amount
New Commitments Originated	$773 million	$1.5 billion
Investments Funded	$471 million	Approximately $1.1 billion
New Portfolio Companies Funded	$272.0 million (to 17 companies)	Approximately $669 million (to 38 companies)

Expand the existing international alternative asset manager role by sourcing deals in Canada or Mexico.

Trinity Capital Inc. is described as an international alternative asset manager. While the March 2025 and September 2025 expansions focused on the East Coast US and Europe, respectively, the firm's structure supports international sourcing. Their existing platform has deployed over $5.1 billion in fundings since inception across 449 investments. The strategy of building relationships with top market share banks and having a broad origination pipeline from private equity and venture capital firms provides the necessary infrastructure to source deals in adjacent markets like Canada or Mexico, even if specific 2025 deal counts aren't public yet. You've got 23rd consecutive quarters of a consistent or increased regular dividend, which requires a steady flow of deals, wherever they come from.

Utilize the existing product suite to target later-stage, pre-IPO companies as a distinct customer segment.

This is a core part of the current strategy. Trinity Capital Inc. maintains a focus on late-stage venture-backed companies moving into the lower middle market. This segment is distinct from earlier-stage venture lending. The firm's total portfolio as of September 30, 2025, had an aggregate fair value of approximately $2.2 billion. The debt portfolio composition shows a strong preference for senior secured assets, with 84.3% being first-lien loans. This product focus-senior secured debt-is what appeals to later-stage, pre-IPO companies needing capital without excessive dilution.

Key financial metrics supporting the platform's health while targeting this segment include:

• Net Asset Value (NAV) at the end of Q3 2025: $998.3 million.
• Return on Average Equity (ROAE) for Q3 2025: 15.3%.
• Net Investment Income (NII) for Q3 2025: $37.0 million.
• Annualized Dividend Yield as of September 30, 2025: 13.2%.

Launch a dedicated marketing effort toward institutional investors in new US regions.

Trinity Capital Inc. serves Institutional Investors, Wealth Professionals, and Public Shareholders. The firm's Assets Under Management (AUM) stood at $2.6 billion as of September 30, 2025. The focus on building out the platform includes laying the groundwork for a managed account platform, which is designed to expand their direct lending strategy and create additional income streams for shareholders. This platform expansion inherently requires marketing to institutional capital sources in new regions to fund that growth. The Q3 2025 total gross investment commitments of $773.0 million show the demand they are meeting, which must be supported by capital raising efforts targeted at new investor pools across the US.

Trinity Capital Inc. (TRIN) - Ansoff Matrix: Product Development

You're looking at how Trinity Capital Inc. is evolving its offerings to drive growth, which means building new financial products on top of its existing platform. This is about taking what works and making it better or entirely new for specific market needs.

For capital capacity, which underpins any new product launch, you saw the total commitments under the KeyBank N.A.-led credit facility expand to $690 million as of September 2025. Also, a subsidiary secured a separate $200 million secured term loan facility with KeyBank National Association in November 2025. This shows a clear path to support expanded product deployment.

The focus on capturing more upside through equity and warrants is measurable. As of September 30, 2025, the investment portfolio included $195.9 million in equity and warrants at fair value, part of an aggregate portfolio fair value of approximately $2.2 billion.

The current product suite, which serves as the base for developing specialized offerings, is diversified across five distinct lending verticals. These are the existing products you are building upon:

• Sponsor Finance
• Equipment Finance
• Tech Lending
• Asset-Based Lending
• Life Sciences

The deployment of capital into these existing products shows the scale of current operations. For the first three quarters of 2025, Trinity Capital Inc. funded approximately $1.1 billion in total investments. Specifically, in the third quarter of 2025 alone, investments funded totaled approximately $470.6 million.

The development of a dedicated mezzanine debt product and a specialized recurring revenue-based financing product for Software-as-a-Service (SaaS) borrowers is an enhancement of the existing Tech Lending vertical. The creation of a structured credit facility for asset-backed lending is an evolution of the existing Asset-Based Lending vertical. The execution of these product enhancements is supported by the fact that Trinity Capital originated approximately $1.5 billion in new commitments year-to-date through the first three quarters of 2025.

Here's a look at the investment portfolio composition as of September 30, 2025, showing where the capital is currently allocated:

Investment Type	Fair Value Amount
Secured Loans	Approximately $1.7 billion
Equipment Financings	Approximately $318.2 million
Equity and Warrants	$195.9 million

The planned institutional co-investment fund, intended to increase capital capacity, would build upon the existing structure where a co-investment vehicle was owned 12.5% by TRIN as of September 30, 2024. The scale of new commitments in Q3 2025 was $773.0 million, indicating the immediate need for increased capacity to support product growth.

The focus on equity and warrant investments is also reflected in recent funding activity. In the third quarter of 2025, warrant and equity investments funded totaled $33 million, and for the first three quarters of 2025, this figure was $35 million.

The introduction of new credit products is supported by the company's ability to generate income. Net Investment Income for the third quarter of 2025 was approximately $37.0 million, or $0.52 per basic share.

Trinity Capital Inc. (TRIN) - Ansoff Matrix: Diversification

You're looking at how Trinity Capital Inc. can expand beyond its established lending verticals, which as of September 30, 2025, included Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences. The firm had deployed more than $5.1 billion across over 445 investments since 2008. To continue that growth trajectory, diversification into new asset classes and markets is a logical next step, moving into the Diversification quadrant of the Ansoff Matrix.

Launch a New Fund Focused on Infrastructure or Renewable Energy Project Debt

Moving into infrastructure or renewable energy project debt represents a clear asset class diversification. Currently, as of the third quarter of 2025, Trinity Capital Inc.'s investment portfolio had an aggregate fair value of approximately $2.2 billion, with 84.3% in first-lien loans and 15.7% in second-lien loans. A new fund in this space would target long-duration, typically contracted cash flows, which contrasts with the growth-oriented, venture-backed companies that make up the current core. This would diversify the underlying collateral and maturity profile away from the existing focus, where 82.4% of the debt portfolio is at floating rates.

Here's a look at the current portfolio scale to contextualize a new venture:

Metric (As of 9/30/2025)	Amount
Investment Portfolio Aggregate Fair Value	$2.2 billion
Secured Loans (Fair Value)	$1.7 billion
Equipment Financings (Fair Value)	$318.2 million
Equity and Warrants (Fair Value)	$195.9 million

Enter the European Venture Debt Market

While Trinity Capital Inc.'s dedicated team is strategically located across the United States and in Europe, formalizing a specialized fund structure for European venture debt would be a market development play within the diversification strategy. This move addresses regulatory differences you'd face by simply lending cross-border without a dedicated structure. The firm originated $773.0 million of new commitments in the third quarter of 2025 alone, showing capacity for deployment. A dedicated European fund would allow for more efficient capital deployment tailored to local market norms, potentially targeting the $1.5 billion in new commitments originated across the first three quarters of 2025 as a baseline for scale.

Form a Joint Venture for Traditional Private Equity Control Investments

Shifting from debt and minority equity positions to providing traditional private equity control investments is a significant move beyond the current business model. Trinity Capital Inc.'s current portfolio is overwhelmingly debt-focused, with only $195.9 million in equity and warrants against $1.7 billion in secured loans as of September 30, 2025. Forming a joint venture would allow the firm to participate in the equity upside of control positions without immediately restructuring its core BDC (Business Development Company) mandate. This would be a true diversification of risk and return profile.

The potential for this strategy is grounded in the firm's ability to source deals, evidenced by funding 17 new portfolio companies in Q3 2025 and 38 new companies in the first three quarters of 2025.

Acquire a Smaller Specialty Finance Firm in a New Sector

Acquiring a smaller firm focused on a completely new sector, like middle-market commercial real estate debt, offers immediate scale in a new vertical. This is a classic M&A-driven diversification. For context, the firm's Net Investment Income (NII) for Q3 2025 was $37.0 million, with a Return on Average Equity (ROAE) of 15.3%. An acquisition would immediately add a new, non-tech/life sciences/equipment-related revenue stream, diversifying the source of that NII. The firm has the liquidity to consider this, reporting approximately $217.9 million in available liquidity as of September 30, 2025.

Key financial metrics to benchmark against for a new venture:

• Net Investment Income (Q3 2025): $37.0 million
• Return on Average Assets (Q3 2025): 6.9%
• Total Investment Income (Q3 2025): $75.6 million
• Total Gross Investments Funded (Q3 2025): $470.6 million

Use the Third Planned SBIC Fund for Underserved Small Business Segments

Utilizing a third Small Business Investment Company (SBIC) fund to target a new, underserved small business market segment with new loan products is a targeted diversification within the existing debt space. This is about product and niche market expansion rather than a complete asset class shift. The current deployment pace is strong, with total investments funded of approximately $1.1 billion across the first three quarters of 2025. An SBIC fund, often structured to target smaller or specific types of businesses, would allow Trinity Capital Inc. to deploy capital into segments that may not fit the criteria for the main BDC portfolio, potentially accessing different risk-adjusted returns. This strategy leverages the firm's existing structure for Small Business lending while expanding the addressable market.

The firm's recent activity shows a preference for secured debt:

• Secured Loans Funded (First 9 Months 2025): $825 million
• Equipment Financings Funded (First 9 Months 2025): $197 million
• Warrant and Equity Investments Funded (First 9 Months 2025): $35 million

Finance: draft a sensitivity analysis on the impact of a 50 basis point shift in floating rate exposure by Friday.