SuRo Capital Corp. 6.00% Notes due 2026 Q3 FY2024 earnings call

• SuRo Capital's vision is to democratize curated access to venture capital opportunities. They've invested in and exited from companies like Facebook, Twitter, etc. • In the second half of 2024, they invested ~$65 million in private companies, with ~$55 million in AI companies. AI investments accounted for 18% of gross assets at quarter end, and inclusive of post-quarter end investments, it's ~23%. • Specific investments include $17.5 million in OpenAI, $25 million in CoreWeave, $12 million in VAST Data, $10 million in Canva. • Monetized public positions in Public Square, One Valley Inc., and STBRx. • Implemented shareholder-friendly initiatives like note purchase agreement, note repurchase program, and expanded share repurchase program.

Segmented by 7 general investment themes, at quarter end Software as a Service represented approximately 26% of the investment portfolio at fair value. Artificial intelligence infrastructure and applications and consumer goods and services were the next largest categories, each accounting for approximately 21% and 16% of the portfolio, respectively. Approximately 15% of the portfolio was invested in education technology companies, logistics and supply chain accounted for approximately 11% of the fair value, financial technology and services made up 9%, and SuRo Sports accounted for 2%.

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