v3.25.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Unfunded Commitments
The following table shows the Company’s unfunded commitments by portfolio company as of March 31, 2025 and December 31, 2024:
March 31, 2025December 31, 2024
Unfunded Commitments(1)
(in thousands)
Unfunded CommitmentsFair Value of Unfunded Commitment LiabilityUnfunded CommitmentsFair Value of Unfunded Commitment Liability
ThoughtSpot, Inc.$25,000 $425 $— $— 
Branch Messenger, Inc.22,500 74 — — 
Activehours, Inc. (d/b/a Earnin)15,000 61 15,000 61 
Ao1 Holdings Inc.11,003 104 11,003 104 
Cresta Intelligence Inc.10,000 33 10,000 33 
Muon Space, Inc.10,000 156 10,000 155 
Minted, Inc.8,500 — 8,500 — 
Tetrascience, Inc.5,000 — — — 
Hover Inc.4,000 40 4,000 40 
Ocrolus Inc.2,857 37 2,856 37 
Eridu Corporation1,000 10 — — 
Hydrow, Inc.735 — 543 — 
FlashParking, Inc.500 2 500 2 
Panorama Education, Inc.380 — 4,280 — 
Parry Labs, LLC367 — 500 4 
Project Affinity, Inc.— 61 5,500 61 
Overtime Sports Inc.— — 22,858 122 
Corelight, Inc.— — 9,000 301 
Total$116,842 $1,003 $104,540 $920 
_______________
(1)The Company did not have any backlog of potential future commitments as of March 31, 2025 and December 31, 2024. Refer to the “Backlog of Potential Future Commitments” below.
Schedule of Level 3 Commitment Liabilities
These liabilities are considered Level 3 liabilities under ASC Topic 820 as there is no known or accessible market or market indices for these types of financial instruments. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. The following table shows additional details regarding the Company's unfunded commitment activity during the three months ended March 31, 2025 and 2024:
Commitments Activity
(in thousands)		For the Three Months Ended March 31,
20252024
Unfunded commitments at beginning of period(1)
$104,540 $118,111 
New commitments(1)
76,500 10,000 
Fundings(27,676)(13,500)
Expirations / Terminations(36,522)(41,510)
Unfunded commitments and backlog of potential future commitments at end of period$116,842 $73,101 
Backlog of potential future commitments— — 
Unfunded commitments at end of period$116,842 $73,101 
_______________
(1)Includes backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.
Schedule of Contractual Obligation, Fiscal Year Maturity
The following table shows additional information on the Company’s unfunded commitments regarding milestones and expirations as of March 31, 2025 and December 31, 2024:
Unfunded Commitments(1)
(in thousands)
March 31, 2025December 31, 2024
Dependent on milestones$19,100 $9,100 
Expiring during:
2025$43,260 $83,617 
202651,082 20,923 
202722,500 — 
Unfunded commitments$116,842 $104,540 
_______________
(1)Does not include backlog of potential future commitments. Refer to the “Backlog of Potential Future Commitments” below.