Trinity Capital
A NASDAQ-listed permanent capital vehicle whose London arm writes venture debt and equipment finance from around £2.4m to £40m to UK growth companies.
What they do
Trinity Capital is an internally-managed listed business development company that has deployed more than $5.1bn across 445 investments since 2008, and opened European operations from London in 2024. It lends venture debt to institutionally-backed growth companies and, separately, finances equipment for capital-intensive businesses, across technology, life sciences, healthcare, clean technology, aerospace and food and drink. UK transactions completed in 2026 include a £25m facility for an online car marketplace and a $50m facility for a London property technology company.
Where they fit in a lower-mid-market raise
Permanent listed capital, rather than a fund with an investment period, means a lender that can hold and follow a position without a clock running. The equipment financing line is the distinguishing feature: a growth company that needs machines as well as runway can fund both with one counterparty, which very few venture lenders offer.
Where they are not the fit
Institutional equity backing and a growth trajectory are required, so this is not a lender for a profitable owner-managed business or a conventional acquisition. Property development is outside the mandate. The London operation is young, though UK facilities have now closed, and pricing is set deal by deal rather than published.
Published terms
- Pricing
- Not published
- Speed to terms
- Not published
- Sponsored or sponsorless
- Lends to venture-capital-backed or institutionally-backed growth-stage companies. Corporate borrowers only insofar as they are VC/institutional-equity-backed; also runs a 'sponsor finance' vertical. Not a classic EBITDA sponsor-buyout lender
- Where they lend
- US-headquartered (Phoenix) international alternative asset manager; European operations launched May-2024 from a London base. Confirmed UK deals: Motorway and Dwelly (both London/UK borrowers). Portfolio spans US, Canada, UK and others
- How they decide
- In detail. London-based European origination team sources deals; parent is an internally-managed listed BDC. Debt-advised deals seen (Motorway advised by Cafferty & Company)
As published by the lender and last reviewed August 2026. Terms quoted on a deal are set by the credit, not by a published band.
The desks that lend
Trinity Capital lends through 2 separate books. Which one reads a deal decides the security, the covenant package and the band, so the question is rarely whether Trinity Capital lends, but which of these would own it.
Venture debt
- Facility
- £4m to £40m
- Security
- Senior or subordinated venture debt; can be structured incremental to an existing senior bank facility. Growth/VC-backed basis (runway extension, non-dilutive) not EBITDA leverage
- Funds
- Growth · Refinance
- Rules out
- Not venture-capital-backed or no institutional equity investors; No growth trajectory or 'strong fundamentals'
Equipment financing
- Facility
- £2.4m to £24m
- Security
- Lien over the financed equipment only (equipment-specific security); does not impact the credit position of other lenders. Incremental to existing equity and debt facilities
- Funds
- Growth
- Rules out
- No capital-intensive equipment need; Not growth-stage or not institutionally-backed
How they sit against the category
- Its published ceiling of £40m is among the 10 highest of the 46 private-credit funds here.
- Like 31 of the 46, it publishes no indicative price — a margin comes from a conversation, not a page.
Counted across the 46 private-credit & direct-lending funds in this directory, on what each one publishes. What a lender discloses and what it will do are different things.
Questions this page answers
How large a facility does Trinity Capital write?
Published facilities run £2.4m to £40m. A band is what a lender states it will do, not what it will do on a given credit.
Does Trinity Capital lend to companies without a private-equity sponsor?
Yes. Trinity Capital lends to owner-managed and sponsor-backed borrowers alike, so a company with no private-equity backer is not out of scope on that ground.
Where does Trinity Capital lend?
US-headquartered (Phoenix) international alternative asset manager; European operations launched May-2024 from a London base. Confirmed UK deals: Motorway and Dwelly (both London/UK borrowers). Portfolio spans US, Canada, UK and others.
What does Trinity Capital lend?
The published product set is venture debt, equipment financing. Published sector focus is aerospace, clean-technology, energy, fintech, food-and-beverage.
Sources
trinitycapital.com · ir.trinitycap.com · find-and-update.company-information.service.gov.uk
This profile is a curated reference note drawn from public sources, not financial advice or a recommendation. Appetite and terms change; a lender's fit for a given credit is established by approaching it, not inferred from a page.