Annual report [Section 13 and 15(d), not S-K Item 405]

INVESTMENTS - Narrative (Details)

v3.25.1
INVESTMENTS - Narrative (Details)
$ in Thousands
 1 Months Ended 12 Months Ended
Mar. 31, 2025
USD ($)
state
industry
portfolioCompany
Feb. 28, 2025
USD ($)
Dec. 31, 2024
USD ($)
Nov. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
Jul. 31, 2024
USD ($)
May 31, 2024
USD ($)
Mar. 31, 2025
USD ($)
state
industry
portfolioCompany
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Summary of Investment Holdings [Line Items]                    
Principal repayments of investments               $ 123,600 $ 28,000 $ 52,300
Purchase of investments               221,217 183,924 133,756
Success fee income:               6,770 3,605 $ 10,402
Cost $ 939,066 [1]             939,066 [1] 854,290 [2]  
Fair Value $ 979,320 [1]             $ 979,320 [1] 920,504 [2]  
Number of investment portfolio company | portfolioCompany 25             25    
Number of states which have invested in the company location | state 19             19    
Number of industries that have made investments | industry 16             16    
Uncollectible receivables allowance, minimum required day for uncollectible adjustment               90 days    
Gross receivables from portfolio companies $ 2,300             $ 2,300 2,200  
Allowance for uncollectible receivables 1,700             1,700 1,400  
Five Largest Portfolio Investments | Investment Portfolio Benchmark | Customer Concentration Risk                    
Summary of Investment Holdings [Line Items]                    
Fair Value 401,700             $ 401,700    
Percentage of Total Investments               41.00%    
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Common Stock Warrants                    
Summary of Investment Holdings [Line Items]                    
Cost 0 [3],[4],[5]             $ 0 [3],[4],[5] 0 [6],[7],[8]  
Fair Value 0 [3],[4],[5]             0 [3],[4],[5] 0 [6],[7],[8]  
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [6],[8]                 3,080  
Fair Value [6],[8]                 3,080  
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Line of Credit 1                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5],[9] 3,080             3,080    
Fair Value [3],[5],[9] 3,080             3,080    
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Line of Credit 2                    
Summary of Investment Holdings [Line Items]                    
Cost 930 [3],[5],[9]             930 [3],[5],[9] 656 [6],[8]  
Fair Value 930 [3],[5],[9]             930 [3],[5],[9] 656 [6],[8]  
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[4],[5] 4,722             4,722    
Fair Value [3],[4],[5] 0             0    
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [6],[8]                 14,000  
Fair Value [6],[8]                 5,266  
Investment, Identifier [Axis]: B+T Group Acquisition, Inc. – Term Debt 1                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5],[9] 14,000             14,000    
Fair Value [3],[5],[9] 3,575             3,575    
Investment, Identifier [Axis]: B+T Group Acquisition, Inc.– Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [6],[7],[8]                 4,722  
Fair Value [6],[7],[8]                 0  
Investment, Identifier [Axis]: Brunswick Bowling Products, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 6,653 [4],[5]             6,653 [4],[5] 6,653 [7],[8]  
Fair Value 51,877 [4],[5]             51,877 [4],[5] 48,759 [7],[8]  
Investment, Identifier [Axis]: Brunswick Bowling Products, Inc. – Term Debt 1                    
Summary of Investment Holdings [Line Items]                    
Cost 17,700 [5]             17,700 [5] 17,700 [8]  
Fair Value 17,700 [5]             17,700 [5] 17,700 [8]  
Investment, Identifier [Axis]: Brunswick Bowling Products, Inc. – Term Debt 2                    
Summary of Investment Holdings [Line Items]                    
Cost 6,850 [5]             6,850 [5] 6,850 [8]  
Fair Value 6,850 [5]             6,850 [5] 6,850 [8]  
Investment, Identifier [Axis]: Dema/Mai Holdings, Inc. - Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Cost [4],[5] 21,000             21,000    
Fair Value [4],[5] 31,070             31,070    
Investment, Identifier [Axis]: Dema/Mai Holdings, Inc. – Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Cost [7],[8]                 21,000  
Fair Value [7],[8]                 22,181  
Investment, Identifier [Axis]: Dema/Mai Holdings, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 38,250 [5]             38,250 [5] 38,250 [8]  
Fair Value 38,250 [5]             38,250 [5] 38,250 [8]  
Investment, Identifier [Axis]: Diligent Delivery Systems – Common Stock Warrants                    
Summary of Investment Holdings [Line Items]                    
Cost 500 [4],[5]             500 [4],[5] 500 [7],[10]  
Fair Value 0 [4],[5]             0 [4],[5] 500 [7],[10]  
Investment, Identifier [Axis]: Diligent Delivery Systems – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 13,000 [9],[11]             13,000 [9],[11] 13,000 [10]  
Fair Value 12,624 [9],[11]             12,624 [9],[11] 13,000 [10]  
Investment, Identifier [Axis]: Edge Adhesives Holdings, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 8,199 [3],[4],[5]             8,199 [3],[4],[5] 8,199 [6],[7],[8]  
Fair Value 0 [3],[4],[5]             0 [3],[4],[5] 0 [6],[7],[8]  
Investment, Identifier [Axis]: Edge Adhesives Holdings, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5],[9] 9,210             9,210    
Fair Value [3],[5],[9] 343             343    
Investment, Identifier [Axis]: Edge Adhesives Holdings, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [6],[8],[12]                 9,210  
Fair Value [6],[8],[12]                 2,905  
Investment, Identifier [Axis]: Educators Resource, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 8,560 [4],[5]             8,560 [4],[5] 8,560 [7],[8]  
Fair Value 21,501 [4],[5]             21,501 [4],[5] 29,638 [7],[8]  
Investment, Identifier [Axis]: Educators Resource, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 30,000 [5]             30,000 [5] 20,000 [8]  
Fair Value 30,000 [5]             30,000 [5] 20,000 [8]  
Investment, Identifier [Axis]: Funko Acquisition Holdings, LLC – Common Units                    
Summary of Investment Holdings [Line Items]                    
Cost [6],[7],[13]                 21  
Fair Value [6],[7],[13]                 18  
Investment, Identifier [Axis]: Galaxy Technologies Holdings, Inc. – Common Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 11,513 [4],[5]             11,513 [4],[5] 11,513 [7],[8]  
Fair Value 3,480 [4],[5]             3,480 [4],[5] 3,368 [7],[8]  
Investment, Identifier [Axis]: Galaxy Technologies Holdings, Inc. – Term Debt 1                    
Summary of Investment Holdings [Line Items]                    
Cost 6,900 [5]             6,900 [5] 6,900 [8]  
Fair Value 6,900 [5]             6,900 [5] 6,900 [8]  
Investment, Identifier [Axis]: Galaxy Technologies Holdings, Inc. – Term Debt 2                    
Summary of Investment Holdings [Line Items]                    
Cost 18,796 [5]             18,796 [5] 18,796 [8]  
Fair Value 18,796 [5]             18,796 [5] 18,796 [8]  
Investment, Identifier [Axis]: Ginsey Home Solutions, Inc. – Common Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 8 [4],[5]             8 [4],[5] 8 [7],[8]  
Fair Value 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Investment, Identifier [Axis]: Ginsey Home Solutions, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 9,583 [4],[5]             9,583 [4],[5] 9,583 [7],[8]  
Fair Value 9,070 [4],[5]             9,070 [4],[5] 891 [7],[8]  
Investment, Identifier [Axis]: Ginsey Home Solutions, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 12,200 [5]             12,200 [5] 12,200 [8]  
Fair Value 12,200 [5]             12,200 [5] 12,200 [8]  
Investment, Identifier [Axis]: Home Concepts Acquisition, Inc. – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost 2,000 [5]             2,000 [5] 1,000 [8]  
Fair Value 2,000 [5]             2,000 [5] 1,000 [8]  
Investment, Identifier [Axis]: Home Concepts Acquisition, Inc. – Line of Credit Two                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 400             400    
Fair Value [5] 400             400    
Investment, Identifier [Axis]: Home Concepts Acquisition, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 3,275 [4],[5]             3,275 [4],[5] 3,275 [7],[8]  
Fair Value 0 [4],[5]             0 [4],[5] 1,238 [7],[8]  
Investment, Identifier [Axis]: Home Concepts Acquisition, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 12,000 [5]             12,000 [5] 12,000 [8]  
Fair Value 9,281 [5]             9,281 [5] 12,000 [8]  
Investment, Identifier [Axis]: Horizon Facilities Services, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Fair Value 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Investment, Identifier [Axis]: Horizon Facilities Services, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 57,700 [5]             57,700 [5] 57,700 [8]  
Fair Value 29,634 [5]             29,634 [5] 57,700 [8]  
Investment, Identifier [Axis]: ImageWorks Display and Marketing Group, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 6,749 [4],[5]             6,749 [4],[5] 6,749 [7],[8]  
Fair Value 12,921 [4],[5]             12,921 [4],[5] 2,607 [7],[8]  
Investment, Identifier [Axis]: ImageWorks Display and Marketing Group, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 22,000  
Fair Value [8]                 22,000  
Investment, Identifier [Axis]: ImageWorks Display and Marketing Group, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 22,000             22,000    
Fair Value [5] 22,000             22,000    
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC - Term Debt 1                    
Summary of Investment Holdings [Line Items]                    
Cost 16,500 [5],[9]             16,500 [5],[9] 16,500 [8],[12]  
Fair Value 10,019 [5],[9]             10,019 [5],[9] 8,852 [8],[12]  
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC - Term Debt 2                    
Summary of Investment Holdings [Line Items]                    
Cost [5],[9] 26,000             26,000    
Fair Value [5],[9] 15,788             15,788    
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC - Term Debt 3                    
Summary of Investment Holdings [Line Items]                    
Cost [5],[9] 2,438             2,438    
Fair Value [5],[9] 1,480             1,480    
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost 5,000 [5],[9]             5,000 [5],[9] 5,000 [8],[12]  
Fair Value 3,036 [5],[9]             3,036 [5],[9] 2,682 [8],[12]  
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC – Term Debt 2                    
Summary of Investment Holdings [Line Items]                    
Cost [8],[12]                 26,000  
Fair Value [8],[12]                 13,949  
Investment, Identifier [Axis]: J.R. Hobbs Co. - Atlanta, LLC – Term Debt 3                    
Summary of Investment Holdings [Line Items]                    
Cost [8],[12]                 2,438  
Fair Value [8],[12]                 1,308  
Investment, Identifier [Axis]: J.R. Hobbs Co. – Atlanta, LLC – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 10,920 [4],[5]             10,920 [4],[5] 10,920 [7],[8]  
Fair Value 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Investment, Identifier [Axis]: Mason West, LLC – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 11,206 [4],[5]             11,206 [4],[5] 11,206 [7],[8]  
Fair Value 13,262 [4],[5]             13,262 [4],[5] 19,759 [7],[8]  
Investment, Identifier [Axis]: Mason West, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 25,250 [5]             25,250 [5] 25,250 [8]  
Fair Value 25,250 [5]             25,250 [5] 25,250 [8]  
Investment, Identifier [Axis]: Nielsen-Kellerman Acquisition Corp. Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5] 1,070             1,070    
Fair Value [3],[5] 1,070             1,070    
Investment, Identifier [Axis]: Nielsen-Kellerman Acquisition Corp. TL - Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5] 48,082             48,082    
Fair Value [3],[5] 48,082             48,082    
Investment, Identifier [Axis]: Nielsen-Kellerman Acquisition Corp. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[4],[5] 22,169             22,169    
Fair Value [3],[4],[5] 22,421             22,421    
Investment, Identifier [Axis]: Nocturne Luxury Villas, Inc. – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 4,000  
Fair Value [8]                 4,000  
Investment, Identifier [Axis]: Nocturne Luxury Villas, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [7],[8]                 6,600  
Fair Value [7],[8]                 12,266  
Investment, Identifier [Axis]: Nocturne Luxury Villas, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [8],[14]                 61,100  
Fair Value [8],[14]                 61,100  
Investment, Identifier [Axis]: Nth Degree Investment Group, LLC – Common Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 5,000 [4],[15]             5,000 [4],[15] 6,219 [7],[8]  
Fair Value 4,975 [4],[15]             4,975 [4],[15] 51,442 [7],[8]  
Investment, Identifier [Axis]: Nth Degree Investment Group, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [16]                 25,000  
Fair Value [16]                 25,000  
Investment, Identifier [Axis]: Old World Christmas, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Fair Value 23,539 [4],[5]             23,539 [4],[5] 30,638 [7],[8]  
Investment, Identifier [Axis]: Old World Christmas, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 38,000 [5]             38,000 [5] 43,000 [8]  
Fair Value 38,000 [5]             38,000 [5] 43,000 [8]  
Investment, Identifier [Axis]: PSI Molded Plastics, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 36,130 [4],[5]             36,130 [4],[5] 19,730 [7],[8]  
Fair Value 996 [4],[5]             996 [4],[5] 0 [7],[8]  
Investment, Identifier [Axis]: PSI Molded Plastics, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 10,616 [5]             10,616 [5] 26,618 [8]  
Fair Value 10,616 [5]             10,616 [5] 20,363 [8]  
Investment, Identifier [Axis]: Phoenix Door Systems, Inc – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 2,750  
Fair Value [8]                 2,750  
Investment, Identifier [Axis]: Phoenix Door Systems, Inc. – Common Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 1,830 [4],[5]             1,830 [4],[5] 1,830 [7],[8]  
Fair Value 0 [4],[5]             0 [4],[5] 0 [7],[8]  
Investment, Identifier [Axis]: Phoenix Door Systems, Inc. – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 2,950             2,950    
Fair Value [5] 2,950             2,950    
Investment, Identifier [Axis]: Phoenix Door Systems, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 3,200 [5]             3,200 [5] 3,200 [8]  
Fair Value 3,200 [5]             3,200 [5] 2,817 [8]  
Investment, Identifier [Axis]: Pyrotek Special Effects, Inc. - Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [5],[17] 2,500             2,500    
Fair Value [5],[17] 2,500             2,500    
Investment, Identifier [Axis]: Pyrotek Special Effects, Inc. - Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [5],[17] 20,120             20,120    
Fair Value [5],[17] 20,120             20,120    
Investment, Identifier [Axis]: Pyrotek Special Effects, Inc.. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [4],[5],[17] 7,060             7,060    
Fair Value [4],[5],[17] 7,260             7,260    
Investment, Identifier [Axis]: Ricardo Defense, Inc. - Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[4],[5] 17,388             17,388    
Fair Value [3],[4],[5] 17,388             17,388    
Investment, Identifier [Axis]: Ricardo Defense, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [3],[5] 61,305             61,305    
Fair Value [3],[5] 61,305             61,305    
Investment, Identifier [Axis]: SFEG Holdings, Inc. – Common Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 30,746 [4],[5]             30,746 [4],[5] 30,746 [7],[8]  
Fair Value 50,788 [4],[5]             50,788 [4],[5] 38,137 [7],[8]  
Investment, Identifier [Axis]: SFEG Holdings, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 54,644             54,644    
Fair Value [5] 54,644             54,644    
Investment, Identifier [Axis]: SFEG Holdings, Inc. – Term Debt 1                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 54,644  
Fair Value [8]                 54,644  
Investment, Identifier [Axis]: Schylling, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 4,000 [4],[5]             4,000 [4],[5] 4,000 [7],[8]  
Fair Value 20,599 [4],[5]             20,599 [4],[5] 11,369 [7],[8]  
Investment, Identifier [Axis]: Schylling, Inc. – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 27,981 [5]             27,981 [5] 27,981 [8]  
Fair Value 27,981 [5]             27,981 [5] 27,981 [8]  
Investment, Identifier [Axis]: The E3 Company, LLC – Line of Credit                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 1,000  
Fair Value [8]                 1,000  
Investment, Identifier [Axis]: The E3 Company, LLC – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 11,233 [4],[5]             11,233 [4],[5] 11,233 [7],[8]  
Fair Value 35,839 [4],[5]             35,839 [4],[5] 16,421 [7],[8]  
Investment, Identifier [Axis]: The E3 Company, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 33,750             33,750    
Fair Value [5] 33,750             33,750    
Investment, Identifier [Axis]: The E3 Company, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 33,750  
Fair Value [8]                 33,750  
Investment, Identifier [Axis]: The Maids International, LLC – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost 6,640 [4],[5]             6,640 [4],[5] 6,640 [7],[8]  
Fair Value 8,410 [4],[5]             8,410 [4],[5] 5,426 [7],[8]  
Investment, Identifier [Axis]: The Maids International, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [5] 28,560             28,560    
Fair Value [5] 28,560             28,560    
Investment, Identifier [Axis]: The Maids International, LLC – Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost [8]                 28,560  
Fair Value [8]                 28,560  
Investment, Identifier [Axis]: UPB Acquisition, Inc. – Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [4],[5] 6,000             6,000    
Fair Value [4],[5] 26,010             26,010    
Investment, Identifier [Axis]: Utah Pacific Bridge & Steel, Ltd. - Preferred Stock                    
Summary of Investment Holdings [Line Items]                    
Cost [7],[8]                 6,000  
Fair Value [7],[8]                 12,287  
Investment, Identifier [Axis]: Utah Pacific Bridge & Steel, Ltd. - Term Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 15,000 [5]             15,000 [5] 18,250 [8]  
Fair Value 15,000 [5]             15,000 [5] 18,250 [8]  
Secured First Lien Debt                    
Summary of Investment Holdings [Line Items]                    
Cost 584,026             584,026 513,425  
Fair Value 514,334             514,334 474,856  
Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Cost 201,487             201,487 145,070  
Fair Value 302,163             $ 302,163 $ 213,480  
Funko Acquisition Holdings, LLC                    
Summary of Investment Holdings [Line Items]                    
Principal repayments of investments             $ 21      
Realized gain on preferred equity             2      
Cost             $ 21      
Nocturne Villa Rentals, Inc.                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments           $ 18,500        
Nth Degree Investment Group, LLC                    
Summary of Investment Holdings [Line Items]                    
Principal repayments of investments         $ 25,000          
Realized gain on preferred equity         42,300          
Success fee income:         $ 100          
Pyrotek Special Effects, Inc. ("Pyrotek")                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments       $ 27,200            
Pyrotek Special Effects, Inc. ("Pyrotek") | Secured First Lien Debt                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments       20,100            
Pyrotek Special Effects, Inc. ("Pyrotek") | Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments       $ 7,100            
Gladstone Alternative Income Fund ("GALT")                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     $ 5,000              
Nielsen-Kellerman, Inc. ("Nielsen-Kellerman")                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     71,300              
Nielsen-Kellerman, Inc. ("Nielsen-Kellerman") | Secured First Lien Debt                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     49,100              
Nielsen-Kellerman, Inc. ("Nielsen-Kellerman") | Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     22,200              
Ricardo Defense, Inc. ("Ricardo")                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     78,700              
Ricardo Defense, Inc. ("Ricardo") | Secured First Lien Debt                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     61,300              
Ricardo Defense, Inc. ("Ricardo") | Preferred Equity                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments     $ 17,400              
Pyrotek Special Effects, Inc                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments   $ 3,000                
Educators Resource, Inc.                    
Summary of Investment Holdings [Line Items]                    
Purchase of investments   10,000                
Dividend income   $ 1,800                
Nocturne Luxury Villas, Inc.                    
Summary of Investment Holdings [Line Items]                    
Principal repayments of investments 85,600                  
Realized gain on preferred equity 19,800                  
Success fee income: $ 3,500                  
[1] Cumulative gross unrealized appreciation for federal income tax purposes is $183.3 million; cumulative gross unrealized depreciation for federal income tax purposes is $144.9 million. Cumulative net unrealized appreciation is $38.5 million, based on a tax cost of $940.9 million.
[2] Cumulative gross unrealized appreciation for federal income tax purposes is $180.5 million; cumulative gross unrealized depreciation for federal income tax purposes is $115.8 million. Cumulative net unrealized appreciation is $64.7 million, based on a tax cost of $855.8 million.
[3] One or more of our affiliated funds, Gladstone Capital Corporation and Gladstone Alternative Income Fund, co-invested with us in this portfolio company pursuant to an exemptive order granted by the U.S. Securities and Exchange Commission.
[4] Security is non-income producing.
[5] Fair value was based on the total enterprise value of the portfolio company, which is generally allocated to the portfolio company’s securities in order of their relative priority in the capital structure. Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[6] One of our affiliated funds, Gladstone Capital Corporation, co-invested with us in this portfolio company pursuant to an exemptive order granted by the U.S. Securities and Exchange Commission.
[7] Security is non-income producing.
[8] Fair value was based on the total enterprise value of the portfolio company, which is generally allocated to the portfolio company’s securities in order of their relative priority in the capital structure. Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[9] Debt security is on non-accrual status.
[10] Fair value was based on the expected exit or payoff amount, where such event has occurred or is expected to occur imminently.
[11] Fair value was based on an internal yield analysis or on estimates of value submitted by a third-party valuation firm. Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[12] Debt security is on non-accrual status.
[13] Our investment in Funko was valued using Level 2 inputs within the ASC 820 fair value hierarchy. Our common units in Funko are convertible into class A common stock in Funko, Inc. upon meeting certain requirements. Fair value was based on the closing market price of shares of Funko, Inc. as of the reporting date, less a discount for lack of marketability. Funko, Inc. is traded on the Nasdaq Global Select Market under the trading symbol “FNKO.” Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[14] Debt security is subject to an interest rate ceiling.
[15] Fair value was based on net asset value, provided by the underlying fund, as a practical expedient.
[16] Fair value was based on internal yield analysis or on estimates of value submitted by a third-party valuation firm. Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[17] This portfolio company is headquartered in Ontario, Canada.