SuRo Capital Corp. Fourth Quarter 2024 Preliminary Investment Portfolio Update
Continued to Focus on AI Strategy and Produced Notable Exits
Net Asset Value Anticipated to be $6.50 to $7.00 Per Share
NEW YORK, Jan. 16, 2025 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the fourth quarter ended December 31, 2024.
“Since inception, SuRo Capital has served as the public's gateway to venture capital, offering unique access to some of the world’s most innovative and sought-after private companies before they become publicly traded. Our diverse portfolio encompasses high-growth sectors including AI infrastructure, emerging consumer brands, and cutting-edge software solutions for both consumer and enterprise markets, among others,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital.
Mr. Klein continued, “This is an exceptionally promising time for our portfolio, and we are pleased to share several significant developments from the fourth quarter. As we have emphasized in recent quarters, increasingly favorable market conditions signal a reopening of the IPO window, and we are optimistic about what 2025 holds given the strong positioning of our portfolio.”
“In December, ServiceTitan, currently one of SuRo Capital’s largest investment holdings, successfully completed its IPO. Additionally, we are pleased to report the full exit of our position in Oklo achieving a remarkable return of over 20 times our initially invested capital in the AltC SPAC. This is yet another testament to the success of our SPAC sponsor strategy established several years ago.”
“Lastly, CoreWeave, an AI cloud computing provider and SuRo Capital’s largest aggregate investment, announced in November the completion of a $650.0 million secondary share sale reflecting the investment community’s continued confidence in one of the premier hyperscalers servicing the AI sector.”
Mr. Klein concluded by highlighting SuRo Capital’s recent investments, stating: “2024 has been one of our most active investment periods in the past decade. During the fourth quarter, we increased our position in CoreWeave, to an aggregate $25.0 million, through an additional $5.0 million secondary transaction and further bolstered our AI infrastructure portfolio by investing $12.0 million in VAST Data (through IH10, LLC), a platform that is revolutionizing productivity and data management in the AI-driven landscape.”
As previously reported, SuRo Capital’s net assets totaled approximately $157.4 million, or $6.73 per share, at September 30, 2024, and approximately $203.4 million, or $7.99 per share at December 31, 2023. As of December 31, 2024, SuRo Capital’s net asset value is estimated to be between $6.50 to $7.00 per share.
Investment Portfolio Update
As of December 31, 2024, SuRo Capital held positions in 37 portfolio companies – 33 privately held and 4 publicly held, some of which may be subject to certain restrictions and/or lock-up provisions.
During the three months ended December 31, 2024, SuRo Capital made the following investments:
| Portfolio Company | Investment | Transaction Date | Amount(1) |
| CoreWeave, Inc. | Series A Preferred Shares | 10/8/2024 | $5.0 million |
| IH10, LLC(2) | Membership Interest | 10/9/2024 | $12.0 million |
___________________(1) Amount invested does not include any capitalized costs or prepaid management fees or fund expenses, if applicable.(2) IH10, LLC’s sole portfolio asset is interest in the Series B Preferred Shares of VAST Data, Ltd. through a special purpose vehicle.
During the three months ended December 31, 2024, SuRo Capital exited or received proceeds from the following investments:
| Portfolio Company | Transaction Date | Quantity | Average Net Share Price(1) | Net Proceeds | Realized Gain | |
| Oklo, Inc. | 11/15/2024 | 239,300 | $21.14 | $5.1 million | $4.8 million | |
| PSQ Holdings, Inc. (d/b/a PublicSquare) – Public Common Shares(2) | Various | 1,616,187 | $3.28 | $5.3 million | $4.0 million | |
| PSQ Holdings, Inc. (d/b/a PublicSquare) – Public Warrants(3) | Various | 500,000 | $1.08 | $0.5 million | $0.3 million | |
| Forge Global, Inc.(4) | Various | 125,000 | $1.03 | $0.1 million |
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In This StorySSSS
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