EXHIBIT31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Patrick F. Conroy, Chief Financial Officer of TechnologyInvestment Capital Corp., certify that:

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| 1.  | I have reviewed this quarterly report onForm 10-Q of Technology Investment Capital Corp.; |

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| 2.  | Based on my knowledge, this report does notcontain any untrue statement of a material fact or omit to state amaterial fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleadingwith respect to the period covered by this report; |

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| 3.  | Based on my knowledge, the financialstatements, and other financial information included in this report,fairly present in all material respects the financial condition,results of operation and cash flows of the registrant as of, and for,the periods presented in this report; |

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| 4.  | The registrant's other certifyingofficer and I are responsible for establishing and maintainingdisclosure controls and procedures (as defined in Exchange Act Rules13a-15(e) and 15d-15(e)) and internal control over financial reporting(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for theregistrant and have; |

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|   | a) | designed suchdisclosure controls and procedures, or caused such disclosure controlsand procedures to be designed under our supervision, to ensure thatmaterial information relating to the registrant, including itsconsolidated subsidiaries, is made known to us by others within thoseentities, particularly during the period in which this report is beingprepared; |

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|   | b) | designedsuch internal control over financial reporting, or caused such internalcontrol over financial reporting to be designed under our supervision,to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for externalpurposes in accordance with generally accepted accountingprinciples; |

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|   | c) | evaluated theeffectiveness of the registrant's disclosure controls andprocedures and presented in this report our conclusions about theeffectiveness of the disclosure controls and procedures, as of the endof the period covered by this report based on such evaluation; and |

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|   | d) | disclosed in thisreport any change in the registrant's internal control overfinancial reporting that occurred during the registrant's mostrecent fiscal quarter (the registrant's fourth quarter in thecase of an annual report) that has materially affected, or isreasonably likely to materially affect, the registrant's internalcontrol over financial reporting; and |

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| 5.  | The registrant's other certifyingofficer and I have disclosed, based on our most recent evaluation ofinternal control over financial reporting, to the registrant'sauditors and the audit committee of the registrant's board ofdirectors (or persons performing the equivalent functions): |

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|   | a) | all significantdeficiencies and material weaknesses in the design or operation ofinternal control over financial reporting which are reasonably likelyto adversely affect the registrant's ability to record, process,summarize and report financial information; and |

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|   | b) | any fraud, whether ornot material, that involves management or other employees who have asignificant role in the registrant's internal control overfinancial reporting. |

Dated this 4th day of November,2005

/s/ Patrick F. Conroy Patrick F.Conroy Chief Financial Officer

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