Trinity Capital Funds $155 Million through Q3 2017
Chandler, AZ—Leading venture debt provider Trinity Capital (Trinity) today announced results for the third quarter ended September 30, 2017. The Company funded $47 million to seven portfolio companies across multiple sectors in the third quarter, bringing Trinity’s total funding during the first nine months of 2017 to $155 million.
“The strength of our year-to-date results reflects our growing relationships with the most active venture capital firms and their portfolio companies,” said Steve Brown, Trinity’s Managing Partner. “We are encouraged by our consistent capital deployment and our ability to contribute long-term value for our portfolio companies.”
Q3 2017 Summary
Trinity funded $47 million to the following companies during the third quarter of 2017:
- Birchbox, a beauty subscription ecommerce company backed by First Round Capital, Accel Partners and Viking Global Investors.
- 42Floors, a San Francisco-based startup with a proprietary web-based platform for commercial real estate listings.
- Smule, a mobile app developer headquartered in San Francisco backed by Bessemer Venture Partners, Shasta Ventures, Granite Ventures and Adams Street Partners.
- OhmConnect, a company that simplifies home energy consumption by rewarding residents for saving energy when it matters most to the grid and the environment.
- Follow-on investments to three existing portfolio companies.
“Trinity has a reputation for being a strong financial partner to venture-backed companies, and I have now experienced firsthand the quality of the team, their approach and execution,” said Katia Beauchamp, co-founder, and CEO of Birchbox. “Trinity takes the time to understand the business, while being extremely organized and efficient in their operations.”
“Trinity took the time to get to know me, my team and our company’s vision for changing the landscape of commercial real estate technology,” said Jason Freedman, CEO of 42Floors. “They took the time to understand our business and provided a clean and straightforward venture debt facility. Having Trinity as a long-term partner is a game-changer for us and our future growth.”
About Trinity Capital
Trinity Capital (Trinity) is a venture lender and valued partner to fast-growing companies across multiple stages and sectors. Since 2008, Trinity has worked closely with leading venture capital firms and their respective portfolio companies to offer valuable support, enhanced flexibility and competitive venture debt financing solutions to customers with distinctive needs. Providing senior and subordinated venture loans and equipment lease financing solutions, Trinity Capital is the partner of choice for venture-backed entrepreneurial companies wanting an experienced financial partner to strengthen their financial position while preserving equity. For more information, please visit www.trincapinvestment.com or www.youtube.com/c/trinitycapitalinvestment.