v3.26.1
Investments - Schedule of Quantitative Information About the Level 3 Fair Value Measurements (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 785,635 [1],[2],[3] $ 783,544 [4],[5],[6]
Debt investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments 641,286 645,366
Warrant investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments 52,086 49,194
Equity investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments 92,263 88,984
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments 784,603 782,888
Level 3 | Debt investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments 641,286 645,366
Level 3 | Debt investments | Discounted Cash Flows    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 603,656 $ 575,845
Level 3 | Debt investments | Discounted Cash Flows | Discount Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0644 0.0661
Level 3 | Debt investments | Discounted Cash Flows | Discount Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.3807 0.3552
Level 3 | Debt investments | Discounted Cash Flows | Discount Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.1744 0.1700
Level 3 | Debt investments | Probability-Weighted Expected Return Method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 37,630 $ 69,521
Level 3 | Debt investments | Probability-Weighted Expected Return Method | Probability Weighting of Alternative Outcomes | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2000 0.2000
Level 3 | Debt investments | Probability-Weighted Expected Return Method | Probability Weighting of Alternative Outcomes | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 1.0000 1.0000
Level 3 | Debt investments | Probability-Weighted Expected Return Method | Probability Weighting of Alternative Outcomes | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.7232 0.8375
Level 3 | Warrant investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 52,086 $ 49,194
Level 3 | Warrant investments | Black Scholes Option Pricing Model    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 49,952 $ 46,987
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Revenue Multiples | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.15 0.15
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Revenue Multiples | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 11.24 11.24
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Revenue Multiples | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 4.70 4.60
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Volatility | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.3500 0.3500
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Volatility | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.9000 0.9000
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Volatility | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.6204 0.6237
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Term | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.20 0.20
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Term | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 5.00 5.00
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Term | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.80 2.82
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Discount for Lack of Marketability | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2000 0.2000
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Discount for Lack of Marketability | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2500 0.2500
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Discount for Lack of Marketability | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2323 0.2325
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Risk Free Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0009 0.0009
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Risk Free Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0486 0.0486
Level 3 | Warrant investments | Black Scholes Option Pricing Model | Risk Free Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0371 0.0368
Level 3 | Warrant investments | Discounted Expected Return    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 2,134 $ 2,207
Level 3 | Warrant investments | Discounted Expected Return | Discount Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2000 0.2000
Level 3 | Warrant investments | Discounted Expected Return | Discount Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.3000 0.3000
Level 3 | Warrant investments | Discounted Expected Return | Discount Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.2741 0.2741
Level 3 | Warrant investments | Discounted Expected Return | Term | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 1.00 1.00
Level 3 | Warrant investments | Discounted Expected Return | Term | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 4.00 4.00
Level 3 | Warrant investments | Discounted Expected Return | Term | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.57 2.58
Level 3 | Warrant investments | Discounted Expected Return | Expected Recovery Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.1875 0.1875
Level 3 | Warrant investments | Discounted Expected Return | Expected Recovery Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 1.0000 1.0000
Level 3 | Warrant investments | Discounted Expected Return | Expected Recovery Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.9047 0.9078
Level 3 | Equity investments    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 91,231 $ 88,328
Level 3 | Equity investments | Black Scholes Option Pricing Model    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 90,165 $ 87,262
Level 3 | Equity investments | Black Scholes Option Pricing Model | Revenue Multiples | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.15 0.15
Level 3 | Equity investments | Black Scholes Option Pricing Model | Revenue Multiples | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 11.00 11.00
Level 3 | Equity investments | Black Scholes Option Pricing Model | Revenue Multiples | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.44 2.41
Level 3 | Equity investments | Black Scholes Option Pricing Model | Volatility | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.3500 0.3500
Level 3 | Equity investments | Black Scholes Option Pricing Model | Volatility | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.9000 0.9000
Level 3 | Equity investments | Black Scholes Option Pricing Model | Volatility | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.5826 0.5849
Level 3 | Equity investments | Black Scholes Option Pricing Model | Term | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 1.50 1.50
Level 3 | Equity investments | Black Scholes Option Pricing Model | Term | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 4.50 4.50
Level 3 | Equity investments | Black Scholes Option Pricing Model | Term | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.35 2.33
Level 3 | Equity investments | Black Scholes Option Pricing Model | Risk Free Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0013 0.0013
Level 3 | Equity investments | Black Scholes Option Pricing Model | Risk Free Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0503 0.0503
Level 3 | Equity investments | Black Scholes Option Pricing Model | Risk Free Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.0356 0.0353
Level 3 | Equity investments | Black Scholes Option Pricing Model | EBITDA Multiples | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 10.5 10.50
Level 3 | Equity investments | Black Scholes Option Pricing Model | EBITDA Multiples | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 11.5 11.50
Level 3 | Equity investments | Black Scholes Option Pricing Model | EBITDA Multiples | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 11 0.11
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Total Level 3 portfolio company investments $ 1,066 $ 1,066
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Discount Rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.1420 0.1420
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Discount Rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.1420 0.1420
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Discount Rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 0.1420 0.1420
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Term | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.00 2.00
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Term | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 3.00 3.00
Level 3 | Equity investments | Option-Pricing Method and Probability-Weighted Expected Return Method | Term | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Inputs 2.50 2.50
[1] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of March 31, 2026, the Company’s portfolio company investments that were subject to restrictions on sales totaled $784.8 million at fair value and represented 223.6% of the Company’s net assets. In addition, unless otherwise indicated, as of March 31, 2026, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[2] Except for equity in five public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).
[3] Non-income producing investments.
[4] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2025, the Company’s portfolio company investments that were subject to restrictions on sales totaled $782.9 million at fair value and represented 221.4% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2025, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[5] Except for equity in four public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Board.
[6] Non-income producing investments.