Trinity Capital Inc. Announces Phoenix Headquarters Expansion, Highlighting Company's Continued Growth and Success
PHOENIX, Dec. 20, 2023 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced the expansion of its Phoenix headquarters, reaffirming Trinity's longstanding commitment to the region as it continues to scale its business.
Trinity has doubled the total space leased at its corporate headquarters at 1 North 1st Street to 30,000 square feet by expanding to the fourth floor from its existing third-floor offices.
"This expansion will support Trinity's growing team, and we're thrilled to reaffirm our commitment to the greater Phoenix region," said Kyle Brown, President and Chief Investment Officer at Trinity Capital. "The expanded space allows us to continue to benefit from the region's diverse talent pool and solidify our status as a destination for top financial talent."
Since Trinity became a public company nearly four years ago, it has grown its team by 150%, more than doubled its total assets from $500 million to over $1.3 billion and has continued to deliver stable and growing dividends to its shareholders. With strong originations during the first nine months of 2023, the Company continues to prudently invest in its team, grow its investment portfolio and maintain a strong pipeline of investment opportunities.
"Trinity's expansion in our downtown proves that Phoenix's innovative and entrepreneurial atmosphere is growing and thriving," said Phoenix Mayor Kate Gallego. "I'm excited that Trinity is actively involved with other local companies, as well, and look forward to their continued impact in the bustling tech ecosystem that we're fostering in the Valley."
Since moving its headquarters to downtown Phoenix in 2021, Trinity has expanded from 39 to 68 employees, and the additional office space will allow for further growth. As of September 30, 2023, Trinity has provided over $2.7 billion in funding across 309 investments, including almost $100 million to companies that employ approximately 1500 people in Arizona. Some Trinity borrowers that operate in Arizona include Footprint, a manufacturer of biodegradable food packaging; Qwick, a hiring platform for service-industry workers and Lucid Motors, which has a substantial electric vehicle manufacturing presence on a 500-acre facility in Casa Grande.
"Trinity Capital is a leading example of how prioritizing investments in innovative technologies boosts the venture ecosystem," said Chris Camacho, Greater Phoenix Economic Council President and CEO. "By supporting high-growth, venture-backed companies across advanced industry verticals, including life sciences, Trinity is accelerating the Greater Phoenix market."
About Trinity Capital Inc.
Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth-stage companies. For more information, please visit the Company's website at www.trinitycap.com.
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SOURCE Trinity Capital Inc.
