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.  | Ihave reviewed this quarterly report on Form 10-Q of TechnologyInvestment Capital Corp.; |

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| 2.  | Based on myknowledge, this report does not contain any untrue statement of amaterial fact or omit to state a material fact necessary to make thestatements made, in light of the circumstances under which suchstatements were made, not misleading with respect to the period coveredby this report; |

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| 3.  | Based on my knowledge, thefinancial statements, and other financial information included in thisreport, fairly present in all material respects the financialcondition, 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)  | designedsuch disclosure controls and procedures, or caused such disclosurecontrols and procedures to be designed under our supervision, to ensurethat material 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)  | designed such internalcontrol over financial reporting, or caused such internal control overfinancial reporting to be designed under our supervision, to providereasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes inaccordance with generally accepted accounting principles; |

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| c)  | evaluated the effectiveness of theregistrant's disclosure controls and procedures and presented inthis report our conclusions about the effectiveness of the disclosurecontrols and procedures, as of the end of the period covered by thisreport based on such evaluation; and |

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| d)  | disclosed in this report any change in theregistrant's internal control over financial reporting thatoccurred during the registrant's most recent fiscal quarter (theregistrant's fourth quarter in the case of an annual report) thathas materially affected, or is reasonably likely to materially affect,the registrant's internal control over financial reporting;and |

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| 5.  | The registrant's othercertifying officer and I have disclosed, based on our most recentevaluation of internal control over financial reporting, to theregistrant's auditors and the audit committee of theregistrant's board of directors (or persons performing theequivalent functions): |

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| a)  | allsignificant deficiencies and material weaknesses in the design oroperation of internal control over financial reporting which arereasonably likely to adversely affect the registrant's ability torecord, process, summarize and report financial information; and |

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| b)  | any fraud, whether or not material,that involves management or other employees who have a significant rolein the registrant's internal control over financialreporting. |

Dated this 8th day of August, 2005

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

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