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 on Form10-Q of Technology Investment Capital Corp.; |

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| 2.  | Based on my knowledge, this annual report doesnot contain 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 annual report; |

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| 3.  | Based on my knowledge, the financial statements,and other financial information included in this annual report, fairlypresent in all material respects the financial condition, results ofoperation and cash flows of the registrant as of, and for, the periodspresented in this annual report; |

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| 4.   | Theregistrant's other certifying officer and I are responsible forestablishing and maintaining disclosure controls and procedures (asdefined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internalcontrol over financial reporting (as defined in Exchange Act Rules13a-15(f) and 15d-15(f)) for the registrant and have; |

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|  | a)   | designed such disclosure controlsand procedures, or caused such disclosure controls and procedures to bedesigned under our supervision, to ensure that material informationrelating to the registrant, including its consolidated subsidiaries, ismade known to us by others within those entities, particularly duringthe period in which this annual report is being prepared; |

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|  | b)  | designed such internal controlover 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 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 y this report based on such evaluation; and |

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|  | d)   | disclosed in this report anychange in the registrant's internal control over financialreporting that occurred during the registrant's most recentfiscal quarter (the registrant's fourth quarter in the case of anannual report) that has materially affected, or is reasonably likely tomaterially affect, the registrant's internal control over thefinancial reporting; and |

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| 5.   | Theregistrant's other certifying officer and I have disclosed, basedon our most recent evaluation of internal control over financialreporting, to the registrant's auditors and the audit committeeof the registrant'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 a 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 notmaterial, that involves management or other employees who have asignificant role in the registrant's internal control overfinancial reporting. |

Dated this 9th day of May, 2005

/s/ PATRICK F. CONROY

Patrick F. ConroyChief Financial Officer

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