|     |
|-----|
|     |  |  |
| [X] | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |   |

|                |
|----------------|
|                |  |  |
| [  ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |   |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |
| Maryland                                                       | 45-5589518 |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

|                             |
|-----------------------------|
|                             |  |  |  |  |
| Large accelerated filer [ ] | Accelerated filer [ ] | Non-accelerated filer [x] | Smaller reporting company [ ] | Emerging growth company [ ] |

----

|                                                                                                                              |
|------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                              |  |  |
| Document Description                                                                                                         |   | 10-K Part |
| Specifically Identified Portions of the Registrant’s Proxy Statement for the Annual Meeting of Shareholders to be held | May 13, 2020 | III |

----

|         |          |
|---------|----------|
| ITEM 1. | BUSINESS |

----

----

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Seed capital companies represent the earliest stage of development.  These companies have raised relatively modest equity capital to prove a concept and qualify for start-up capital.  Their activities generally are limited to product development, scientific and market research, recruiting a management team and developing a business plan.  These companies likely do not have financial support from either venture capitalists or large companies making strategic investments. |
|         |                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Start-up stage companies are completing or have recently completed product development and initial marketing but have not sold their products commercially.  Generally, such firms have made market studies, assembled key management, developed a business plan and are ready to commence operations. |
|         |                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|
| • | Emerging growth stage companies have initiated or are about to initiate full-scale operations and sales but may not be showing a profit. |
|         |                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Mezzanine stage companies are approaching or have attained break even or profitability and are continuing to expand.  An acquisition or initial public offering may be imminent. |
|         |                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The company has at least six months’ worth of available cash to fund its operations or indications from its equity investors that they will make investments necessary to provide such cash. |
|         |                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | At least two venture capital equity investors have indicated a current intention to make additional equity financing available to the company, or the company has a forecasted positive cash flow. |
|         |                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------|
| • | The company’s business plan contemplates sales of at least $25.0 million within five years. |
|         |                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The company has previously closed equity venture capital financing or will close equity venture capital financing prior to the funding of the loan. |
|         |                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Debt service requirements of the loan are, in the opinion of the Manager, not likely to become an impediment to the company raising additional capital. |
|         |                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | At least 75% of the assets to be financed are, in the opinion of the Manager, critical to the company's day-to-day operations or the loan is secured by all or substantially all of the borrower’s assets. |
|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | At least two of the company's venture capital equity investors (including the lead investor) have (i) in the opinion of the Manager, significant venture capital industry experience and (ii) at least $50.0 million under management. |

----

----

|                                                                                                                |
|----------------------------------------------------------------------------------------------------------------|
|                                                                                                                |  |  |
| Name and Position with Fund                                                                                    | Age | Occupation During Past Five Years |
| Ronald W. Swenson, Chairman, and Director                                                                      | 74 | Chairman, Chief Executive Officer, Director, and other positions for Westech Investment Advisors since 1994 |
| Maurice C. Werdegar, Chief Executive Officer                                                                   | 54 | Chief Executive Officer, Chief Operating Officer, Director and other positions for Westech Investment Advisors since 2001 |
| David R. Wanek, President                                                                                      | 45 | President and other positions for Westech Investment Advisors since 2001 |
| Jay L. Cohan, Vice President, Assistant Secretary                                                              | 54 | Vice President, Assistant Secretary and other positions for Westech Investment Advisors since 1999 |
| Judy N. Bornstein, Vice President, Chief Financial Officer, Chief Compliance Officer, Treasurer, and Secretary | 55 | Vice President, Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary for Westech Investment Advisors since 2019.  From 2017 to 2019, she served as the Chief Financial Officer of Generate Capital.  Prior to joining Generate Capital, she spent 11 years as Managing Director, CFO, and Chief Compliance Officer of American Infrastructure Funds. |

www.sec.gov
|                 |              |
|-----------------|--------------|
| ITEM 1A.   | RISK FACTORS |

----

----

----

----

----

----

----

----

|                 |                           |
|-----------------|---------------------------|
| ITEM 1B.   | UNRESOLVED STAFF COMMENTS |
|         |            |
|---------|------------|
| ITEM 2. | PROPERTIES |
|         |                   |
|---------|-------------------|
| ITEM 3. | LEGAL PROCEEDINGS |
|         |                         |
|---------|-------------------------|
| ITEM 4. | MINE SAFETY DISCLOSURES |

----

|         |                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------|
| ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES |

----

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             | For the Year Ended December 31, 2019 |   | For the Year Ended December 31, 2018 |   | For the Year Ended December 31, 2017 |   | For the Year Ended December 31, 2016 |   | For the Year Ended December 31, 2015 |
| Statements of Operations Data:                                                   |   |   |   |   |   |   |   |   |   |
| Investment income:                                                               |   |   |   |   |   |   |   |   |   |
| Interest on loans                                                                | $ | 22,465,335 |  |   | $ | 48,890,748 |  |   | $ | 51,914,279 |  |   | $ | 60,098,256 |  |   | $ | 60,547,623 |  |
| Other interest and other income                                                  | 42,711 |  |   | 121,224 |  |   | 188,178 |  |   | 163,000 |  |   | 267,583 |  |
| Total investment income                                                          | 22,508,046 |  |   | 49,011,972 |  |   | 52,102,457 |  |   | 60,261,256 |  |   | 60,815,206 |  |
| Expenses:                                                                        |   |   |   |   |   |   |   |   |   |
| Management fees                                                                  | 3,096,163 |  |   | 7,044,935 |  |   | 8,966,110 |  |   | 8,638,289 |  |   | 9,640,495 |  |
| Interest expense                                                                 | 2,783,681 |  |   | 6,173,801 |  |   | 7,769,389 |  |   | 7,847,826 |  |   | 7,064,969 |  |
| Banking and professional fees                                                    | 532,425 |  |   | 564,862 |  |   | 492,092 |  |   | 483,258 |  |   | 433,787 |  |
| Other operating expenses                                                         | 194,696 |  |   | 217,974 |  |   | 494,723 |  |   | 155,940 |  |   | 165,753 |  |
| Total expenses                                                                   | 6,606,965 |  |   | 14,001,572 |  |   | 17,722,314 |  |   | 17,125,313 |  |   | 17,305,004 |  |
| Net investment income                                                            | 15,901,081 |  |   | 35,010,400 |  |   | 34,380,143 |  |   | 43,135,943 |  |   | 43,510,202 |  |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Net realized loss from loans                                                     | (13,189,563 | ) |   | (8,239,614 | ) |   | (9,074,492 | ) |   | (19,144,378 | ) |   | (2,503,328 | ) |
| Net realized gain (loss) from derivative instruments                             | 185,027 |  |   | (30,158 | ) |   | 666,026 |  |   | 52,201 |  |   | — |  |
| Net change in unrealized gain (loss) from loans                                  | 4,579,337 |  |   | 1,953,368 |  |   | (10,190,538 | ) |   | (2,385,615 | ) |   | (8,924,487 | ) |
| Net change in unrealized gain (loss) from derivative instruments                 | (374,257 | ) |   | 352,720 |  |   | 219,067 |  |   | 287,009 |  |   | (392,455 | ) |
| Net realized and change in unrealized loss from loans and derivative instruments | (8,799,456 | ) |   | (5,963,684 | ) |   | (18,379,937 | ) |   | (21,190,783 | ) |   | (11,820,270 | ) |
| Net increase in net assets resulting from operations                             | $ | 7,101,625 |  |   | $ | 29,046,716 |  |   | $ | 16,000,206 |  |   | $ | 21,945,160 |  |   | $ | 31,689,932 |  |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Amounts per common share:                                                        |   |   |   |   |   |   |   |   |   |
| Net increase in net assets resulting from operations per share              | $ | 71.02 |  |   | $ | 290.47 |  |   | $ | 160.00 |  |   | $ | 219.45 |  |   | $ | 316.90 |  |
| Weighted average shares outstanding                                              | 100,000 |  |   | 100,000 |  |   | 100,000 |  |   | 100,000 |  |   | 100,000 |  |
|                                                                             |   |   |   |   |   |   |   |   |   |
|                                                                             | As of December 31, |
|                                                                             | 2019 |   | 2018 |   | 2017 |   | 2016 |   | 2015 |
| Statements of Assets and Liabilities Data:                                       |   |   |   |   |   |   |   |   |   |
| Loans                                                                            | $ | 85,964,990 |  |   | $ | 210,722,764 |  |   | $ | 325,189,783 |  |   | $ | 300,384,884 |  |   | $ | 380,437,931 |  |
| Net assets                                                                       | $ | 71,268,020 |  |   | $ | 127,798,423 |  |   | $ | 212,657,017 |  |   | $ | 183,522,710 |  |   | $ | 210,491,312 |  |

----

|         |                                                                                             |
|---------|---------------------------------------------------------------------------------------------|
| ITEM 7. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |

----

----

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |
|                                                | For the Year Ended December 31, 2019 |   | For the Year Ended December 31, 2018 |
| Net cash provided by (used in) operating activities | $ | 128,079,312 |  |   | $ | 141,918,822 |  |
| Net cash provided by (used in) financing activities | (130,564,973 | ) |   | (144,010,158 | ) |
| Net decrease in cash and cash equivalents           | $ | (2,485,661 | ) |   | $ | (2,091,336 | ) |

|                        |
|------------------------|
|                        |  |  |  |  |
| As of                  | Cumulative Amount Disbursed | Principal Reductions and Fair Market Adjustments | Balance Outstanding – Fair Value | UnexpiredUnfunded Commitments |
| December 31, 2019 | $960.2 million | $874.2 million | $86.0 million | $0 |
| December 31, 2018      | $960.2 million | $749.5 million | $210.7 million | $0 |

----

|          |                                                            |
|----------|------------------------------------------------------------|
| ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |

|                                   |
|-----------------------------------|
|                                   |  |  |  |  |
| Effect of Interest Rate Change By | Other Interest and Other Income (Loss) | Gain (Loss) from Derivative Instruments | Interest Income (Expense) | Total Income (Loss) |
| (0.50)%                           | $(1,771) | $(129,637) | $77,000 | $(54,408) |
| 1%                                | $3,541 | $259,274 | $(154,000) | $108,815 |
| 2%                                | $7,082 | $518,549 | $(308,000) | $217,631 |
| 3%                                | $10,623 | $777,823 | $(462,000) | $326,446 |
| 4%                                | $14,164 | $1,037,098 | $(616,000) | $435,262 |
| 5%                                | $17,705 | $1,296,372 | $(770,000) | $544,077 |

----

|         |                                             |
|---------|---------------------------------------------|
| ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA |

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             | Quarterly Information for the Three Months Ended |
|                                                                             | March 31, 2019 |   | June 30, 2019 |   | September 30, 2019 |   | December 31, 2019 |
| Investment Income:                                                               |   |   |   |   |   |   |   |
| Interest on loans                                                                | $ | 6,602,685 |  |   | $ | 9,359,969 |  |   | $ | 3,410,395 |  |   | $ | 3,092,286 |  |
| Other interest and other income                                                  | 21,276 |  |   | 12,566 |  |   | 4,802 |  |   | 4,068 |  |
| Total investment income                                                          | 6,623,961 |  |   | 9,372,535 |  |   | 3,415,197 |  |   | 3,096,354 |  |
| Expenses:                                                                        |   |   |   |   |   |   |   |
| Management fees                                                                  | 1,086,542 |  |   | 797,420 |  |   | 665,198 |  |   | 547,003 |  |
| Interest expense                                                                 | 1,034,182 |  |   | 792,875 |  |   | 568,727 |  |   | 387,897 |  |
| Banking and professional fees                                                    | 178,616 |  |   | 115,727 |  |   | 58,324 |  |   | 179,758 |  |
| Other operating expenses                                                         | 39,955 |  |   | 33,851 |  |   | 63,619 |  |   | 57,272 |  |
| Total expenses                                                                   | 2,339,295 |  |   | 1,739,873 |  |   | 1,355,868 |  |   | 1,171,930 |  |
| Net investment income                                                            | 4,284,666 |  |   | 7,632,662 |  |   | 2,059,329 |  |   | 1,924,424 |  |
|                                                                             |   |   |   |   |   |   |   |
| Net realized gain (loss) from loans                                              | 4,125 |  |   | (431,516 | ) |   | (9,784,311 | ) |   | (2,977,861 | ) |
| Net realized gain from derivative instruments                                    | 79,220 |  |   | 60,207 |  |   | 40,506 |  |   | 5,094 |  |
| Net change in unrealized gain (loss) from loans                                  | (503,299 | ) |   | (3,067,943 | ) |   | 6,645,649 |  |   | 1,504,930 |  |
| Net change in unrealized (loss) from derivative instruments                      | (147,050 | ) |   | (177,742 | ) |   | (14,791 | ) |   | (34,674 | ) |
| Net realized and change in unrealized loss from loans and derivative instruments | (567,004 | ) |   | (3,616,994 | ) |   | (3,112,947 | ) |   | (1,502,511 | ) |
| Net increase (decrease) in net assets resulting from operations             | $ | 3,717,662 |  |   | $ | 4,015,668 |  |   | $ | (1,053,618 | ) |   | $ | 421,913 |  |
|                                                                             |   |   |   |   |   |   |   |
| Amounts per common share:                                                        |   |   |   |   |   |   |   |
| Net increase (decrease) in net assets resulting from operations per share   | $ | 37.18 |  |   | $ | 40.16 |  |   | $ | (10.54 | ) |   | $ | 4.22 |  |
| Weighted average shares outstanding                                              | 100,000 |  |   | 100,000 |  |   | 100,000 |  |   | 100,000 |  |

----

|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                    | Quarterly Information for the Three Months Ended |
|                                                                                    | March 31, 2018 |   | June 30, 2018 |   | September 30, 2018 |   | December 31, 2018 |
| Investment Income:                                                                      |   |   |   |   |   |   |   |
| Interest on loans                                                                       | $ | 11,432,014 |  |   | $ | 12,837,659 |  |   | $ | 15,401,733 |  |   | $ | 9,219,342 |  |
| Other interest and other income                                                         | 22,427 |  |   | 48,544 |  |   | 34,627 |  |   | 15,626 |  |
| Total investment income                                                                 | 11,454,441 |  |   | 12,886,203 |  |   | 15,436,360 |  |   | 9,234,968 |  |
| Expenses:                                                                               |   |   |   |   |   |   |   |
| Management fees                                                                         | 2,129,707 |  |   | 1,974,912 |  |   | 1,583,504 |  |   | 1,356,812 |  |
| Interest expense                                                                        | 1,423,331 |  |   | 1,627,174 |  |   | 1,762,200 |  |   | 1,361,096 |  |
| Banking and professional fees                                                           | 148,418 |  |   | 70,127 |  |   | 129,600 |  |   | 216,717 |  |
| Other operating expenses                                                                | 31,486 |  |   | 29,988 |  |   | 41,195 |  |   | 115,305 |  |
| Total expenses                                                                          | 3,732,942 |  |   | 3,702,201 |  |   | 3,516,499 |  |   | 3,049,930 |  |
| Net investment income                                                                   | 7,721,499 |  |   | 9,184,002 |  |   | 11,919,861 |  |   | 6,185,038 |  |
|                                                                                    |   |   |   |   |   |   |   |
| Net realized loss from loans                                                            | (293,025 | ) |   | (1,663,372 | ) |   | (1,515,103 | ) |   | (4,768,114 | ) |
| Net realized gain (loss) from derivative instruments                                    | (102,113 | ) |   | (20,184 | ) |   | 32,738 |  |   | 59,401 |  |
| Net change in unrealized gain (loss) from loans                                         | (2,394,351 | ) |   | 1,194,310 |  |   | (2,018,472 | ) |   | 5,171,881 |  |
| Net change in unrealized gain (loss) from derivative instruments                        | 412,686 |  |   | 128,182 |  |   | 28,457 |  |   | (216,605 | ) |
| Net realized and change in unrealized gain (loss) from loans and derivative instruments | (2,376,803 | ) |   | (361,064 | ) |   | (3,472,380 | ) |   | 246,563 |  |
| Net increase in net assets resulting from operations                               | $ | 5,344,696 |  |   | $ | 8,822,938 |  |   | $ | 8,447,481 |  |   | $ | 6,431,601 |  |
|                                                                                    |   |   |   |   |   |   |   |
| Amounts per common share:                                                               |   |   |   |   |   |   |   |
| Net increase in net assets resulting from operations per share                     | $ | 53.45 |  |   | $ | 88.23 |  |   | $ | 84.47 |  |   | $ | 64.32 |  |
| Weighted average shares outstanding                                                     | 100,000 |  |   | 100,000 |  |   | 100,000 |  |   | 100,000 |  |

|         |                                                                                      |
|---------|--------------------------------------------------------------------------------------|
| ITEM 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE |
|          |                         |
|----------|-------------------------|
| ITEM 9A. | CONTROLS AND PROCEDURES |

----

|          |                   |
|----------|-------------------|
| ITEM 9B. | OTHER INFORMATION |

----

|          |                                                        |
|----------|--------------------------------------------------------|
| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE |
|          |                        |
|----------|------------------------|
| ITEM 11. | EXECUTIVE COMPENSATION |
|          |                                                                                                |
|----------|------------------------------------------------------------------------------------------------|
| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |

----

|          |                                         |
|----------|-----------------------------------------|
| ITEM 15. | EXHIBITS, FINANCIAL STATEMENT SCHEDULES |

|                                 |
|---------------------------------|
|                                 |  |
| Exhibit     | Exhibit Title |
|                            |   |
| 3(i)                            | Articles of Incorporation of the Fund as filed with the Maryland Secretary of State on June 21, 2012, incorporated by reference to the Fund's Form 10 filed with the Securities and Exchange Commission on September 19, 2012. |
|                            |   |
| 3(ii)                           | Bylaws of the Fund, incorporated by reference to the Fund's Form 10 filed with the Securities and Exchange Commission on September 19, 2012. |
|                            |   |
| 4.1                             | Form of Purchase Agreement between the Fund and the Company, incorporated by reference to the Fund's Registration Statement on Form 10 filed with the Securities and Exchange Commission on September 19, 2012. |
|                            |   |
| 4.2                             | Description of the Registrant’s securities registered pursuant to Section 12(G) of the Securities and Exchange Act of 1934 |
|                            |   |
| 10.1                            | Form of Custody Agreement between the Fund and Union Bank, N.A. filed with the Fund's Registration Statement on Form 10 filed with the Securities and Exchange Commission on September 19, 2012. |
|                            |   |
| 10.2                            | Form of Management Agreement between the Fund, and the Manager, incorporated by reference to the Fund's Registration Statement on Form 10 filed with the Securities and Exchange Commission on September 19, 2012. |
|                            |   |
| 10.3                            | Custody Agreement between the Fund and Wells Fargo Bank, National Association effective December 11, 2019. |
|                            |   |
| 31.1                            | Chief Executive Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.  (Rules 13a - 14(a) and 15d-14(a) Certification). |
|                            |   |
| 31.2                            | Chief Financial Officer certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.  (Rules 13a - 14(a) and 15d-14(a) Certification). |
|                            |   |
| 32.1                            | Chief Executive Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.  (Section 1350 Certification). |
|                            |   |
| 32.2                            | Chief Financial Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.  (Section 1350 Certification). |
|                            |   |

----

|        |
|--------|
|        |  |  |  |  |  |
| By:    | /S/Maurice C. Werdegar | By: | /S/Judy N. Bornstein |
|   | Maurice C. Werdegar |   | Judy N. Bornstein |
|   | Chief Executive Officer |   | Chief Financial Officer |
|   | (Principal Executive Officer) |   | (Principal Financial Officer) |
|   | Date:   | March 16, 2020 |   | Date: | March 16, 2020 |

|        |
|--------|
|        |  |  |  |  |
|   | NAME | TITLE | DATE |   |
|   |   |   |   |   |
| By:    | /S/ Ronald W. Swenson | Chairman & Director | March 16, 2020 |   |
|   | Ronald W. Swenson |   |   |   |
|   |   |   |   |   |
| By:    | /S/ Maurice C. Werdegar | CEO & Director | March 16, 2020 |   |
|   | Maurice C. Werdegar |   |   |   |
|   |   |   |   |   |
| By:    | /S/ John Glynn | Director | March 16, 2020 |   |
|   | John Glynn |   |   |   |
|   |   |   |   |   |
| By:    | /S/ Robert Hutter | Director | March 16, 2020 |   |
|   | Robert Hutter |   |   |   |
|   |   |   |   |   |
| By:    | /S/ Scott Taylor | Director | March 16, 2020 |   |
|   | Scott Taylor |   |   |   |

----

----

|                                                                                                                                          |
|------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                          |  |  |  |  |  |  |  |
|                                                                                                                                     | December 31, 2019 |   | December 31, 2018 |
| ASSETS:                                                                                                                                  |   |   |   |
| Loans, at estimated fair value                                                                                                           |   |   |   |
|    (cost of $104,598,706 and $233,935,818)                                                                                | $ | 85,964,990 |  |   | $ | 210,722,764 |  |
| Derivative asset - interest rate swap                                                                                                    | — |  |   | 352,121 |  |
| Cash and cash equivalents                                                                                                                | 354,105 |  |   | 2,839,766 |  |
| Dividend and interest receivables                                                                                                        | 843,808 |  |   | 2,352,345 |  |
| Other assets                                                                                                                             | 357,581 |  |   | 822,885 |  |
| Total assets                                                                                                                             | 87,520,484 |  |   | 217,089,881 |  |
|                                                                                                                                     |   |   |   |
| LIABILITIES:                                                                                                                             |   |   |   |
| Borrowings under debt facility                                                                                                           | 15,400,000 |  |   | 87,500,000 |  |
| Accrued management fees                                                                                                                  | 547,003 |  |   | 1,356,812 |  |
| Derivative liability - interest rate swap                                                                                                | 22,136 |  |   | — |  |
| Accounts payable and other accrued liabilities                                                                                           | 283,325 |  |   | 434,646 |  |
| Total liabilities                                                                                                                        | 16,252,464 |  |   | 89,291,458 |  |
|                                                                                                                                     |   |   |   |
| NET ASSETS:                                                                                                                              | $ | 71,268,020 |  |   | $ | 127,798,423 |  |
|                                                                                                                                     |   |   |   |
| Analysis of Net Assets:                                                                                                                  |   |   |   |
|                                                                                                                                     |   |   |   |
| Capital paid in on shares of capital stock                                                                                               | $ | 323,245,000 |  |   | $ | 322,645,000 |  |
| Total distributable losses                                                                                                               | (251,976,980 | ) |   | (194,846,577 | ) |
| Net assets (equivalent to $712.68 and $1,277.98 per share based on 100,000 shares of capital stock outstanding - See Note 5 and Note 10) | $ | 71,268,020 |  |   | $ | 127,798,423 |  |

----

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             | For the Year Ended |   | For the Year Ended |   | For the Year Ended |
|                                                                             | December 31, 2019 |   | December 31, 2018 |   | December 31, 2017 |
| INVESTMENT INCOME:                                                               |   |   |   |   |   |
| Interest on loans                                                                | $ | 22,465,335 |  |   | $ | 48,890,748 |  |   | $ | 51,914,279 |  |
| Other interest and other income                                                  | 42,711 |  |   | 121,224 |  |   | 188,178 |  |
| Total investment income                                                          | 22,508,046 |  |   | 49,011,972 |  |   | 52,102,457 |  |
|                                                                             |   |   |   |   |   |
| EXPENSES:                                                                        |   |   |   |   |   |
| Management fees                                                                  | 3,096,163 |  |   | 7,044,935 |  |   | 8,966,110 |  |
| Interest expense                                                                 | 2,783,681 |  |   | 6,173,801 |  |   | 7,769,389 |  |
| Banking and professional fees                                                    | 532,425 |  |   | 564,862 |  |   | 492,092 |  |
| Other operating expenses                                                         | 194,696 |  |   | 217,974 |  |   | 494,723 |  |
| Total expenses                                                                   | 6,606,965 |  |   | 14,001,572 |  |   | 17,722,314 |  |
| Net investment income                                                            | 15,901,081 |  |   | 35,010,400 |  |   | 34,380,143 |  |
|                                                                             |   |   |   |   |   |
| Net realized loss from loans                                                     | (13,189,563 | ) |  | (8,239,614 | ) |  | (9,074,492 | ) |
| Net realized gain (loss) from derivative instruments                             | 185,027 |  |  | (30,158 | ) |  | 666,026 |  |
| Net change in unrealized gain (loss) from loans                                  | 4,579,337 |  |  | 1,953,368 |  |  | (10,190,538 | ) |
| Net change in unrealized gain (loss) from derivative instruments                 | (374,257 | ) |  | 352,720 |  |  | 219,067 |  |
| Net realized and change in unrealized loss from loans and derivative instruments | (8,799,456 | ) |   | (5,963,684 | ) |   | (18,379,937 | ) |
| Net increase in net assets resulting from operations                             | $ | 7,101,625 |  |   | $ | 29,046,716 |  |   | $ | 16,000,206 |  |
|                                                                             |   |   |   |   |   |
| Amounts per common share:                                                        |   |   |   |   |   |
| Net increase in net assets resulting from operations per share                   | $ | 71.02 |  |   | $ | 290.47 |  |   | $ | 160.00 |  |
| Weighted average shares outstanding                                              | 100,000 |  |   | 100,000 |  |   | 100,000 |  |

----

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 | Common Stock |   |   |   |   |   |   |
|                                                 | Shares |   | Par Value |   | Additional Paid-in Capital |   | Total Distributable Earnings (Loss) |   | Net Assets |
| Balance at December 31, 2016                         | 100,000 |  |   | $ | 100 |  |   | $ | 276,524,900 |  |   | $ | (93,002,290 | ) |   | $ | 183,522,710 |  |
| Net increase in net assets resulting from operations | — |  |   | — |  |   | — |  |   | 16,000,206 |  |   | 16,000,206 |  |
| Distributions to shareholder                         | — |  |   | — |  |   | — |  |   | (31,365,899 | ) |   | (31,365,899 | ) |
| Contributions from shareholder                       | — |  |   | — |  |   | 44,500,000 |  |   | — |  |   | 44,500,000 |  |
| Balance at December 31, 2017                         | 100,000 |  |   | $ | 100 |  |   | $ | 321,024,900 |  |   | $ | (108,367,983 | ) |   | $ | 212,657,017 |  |
| Net increase in net assets resulting from operations | — |  |   | — |  |   | — |  |   | 29,046,716 |  |   | 29,046,716 |  |
| Distributions to shareholder                         | — |  |   | — |  |   | — |  |   | (115,525,310 | ) |   | (115,525,310 | ) |
| Contributions from shareholder                       | — |  |   | — |  |   | 1,620,000 |  |   | — |  |   | 1,620,000 |  |
| Balance at December 31, 2018                         | 100,000 |  |   | $ | 100 |  |   | $ | 322,644,900 |  |   | $ | (194,846,577 | ) |   | $ | 127,798,423 |  |
| Net increase in net assets resulting from operations | — |  |   | — |  |   | — |  |   | 7,101,625 |  |   | 7,101,625 |  |
| Distributions to shareholder                         | — |  |   | — |  |   | — |  |   | (64,232,028 | ) |   | (64,232,028 | ) |
| Contributions from shareholder                       | — |  |   | — |  |   | 600,000 |  |   | — |  |   | 600,000 |  |
| Balance at December 31, 2019                         | 100,000 |  |   | $ | 100 |  |   | $ | 323,244,900 |  |   | $ | (251,976,980 | ) |   | $ | 71,268,020 |  |

----

|                                                                                                                                       |
|---------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                       |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                  | For the Year Ended |   | For the Year Ended |   | For the Year Ended |
|                                                                                                                                  | December 31, 2019 |   | December 31, 2018 |   | December 31, 2017 |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                                                 |   |   |   |   |   |
| Net increase in net assets resulting from operations                                                                                  | $ | 7,101,625 |  |   | $ | 29,046,716 |  |   | $ | 16,000,206 |  |
| Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities: |   |   |   |   |   |
| Net realized loss from loans                                                                                                          | 13,189,563 |  |   | 8,239,614 |  |   | 9,074,492 |  |
| Net realized (gain) loss from derivative instruments                                                                                  | (185,027 | ) |   | 30,158 |  |   | (666,026 | ) |
| Net change in unrealized (gain) loss from loans                                                                                       | (4,579,337 | ) |   | (1,953,368 | ) |   | 10,190,538 |  |
| Net change in unrealized (gain) loss from derivative instruments                                                                      | 374,257 |  |   | (352,720 | ) |   | (219,067 | ) |
| Amortization of deferred costs related to borrowing facility and interest rate cap agreement                                          | 374,371 |  |   | 374,371 |  |   | 1,510,477 |  |
| Net (increase) decrease in dividend and interest receivables                                                                          | 1,508,537 |  |   | 1,503,107 |  |   | (251,308 | ) |
| Net (increase) decrease in other assets                                                                                               | 90,934 |  |   | 1,096,994 |  |   | (648,374 | ) |
| Net decrease in accounts payable, other accrued liabilities and accrued management fees                                               | (961,131 | ) |   | (821,513 | ) |   | (1,446,295 | ) |
| Origination of loans                                                                                                                  | — |  |   | (51,000,000 | ) |   | (195,202,500 | ) |
| Principal payments on loans                                                                                                           | 111,165,520 |  |   | 157,145,402 |  |   | 149,838,737 |  |
| Acquisition of equity securities                                                                                                      | — |  |   | (1,389,939 | ) |   | (12,072,066 | ) |
| Net cash provided by (used in) operating activities                                                                                   | 128,079,312 |  |   | 141,918,822 |  |  | (23,891,186 | ) |
|                                                                                                                                  |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                                                                 |   |   |   |   |   |
| Cash distributions to shareholder                                                                                                     | (59,250,000 | ) |   | (112,100,000 | ) |   | (18,000,000 | ) |
| Contributions from shareholder                                                                                                        | 600,000 |  |   | 1,620,000 |  |   | 44,500,000 |  |
| Borrowings under debt facility                                                                                                        | 20,500,000 |  |   | 29,400,000 |  |   | 64,500,000 |  |
| Repayments of borrowings under debt facility                                                                                          | (92,600,000 | ) |   | (62,900,000 | ) |   | (70,500,000 | ) |
| Payments received from interest rate cap                                                                                              | — |  |   | — |  |   | 683,483 |  |
| Payments made for interest rate swap                                                                                                  | (2,827 | ) |   | (122,829 | ) |   | (17,457 | ) |
| Payments received from interest rate swap                                                                                             | 187,854 |  |   | 92,671 |  |   | — |  |
| Payments of bank facility fees and costs                                                                                              | — |  |   | — |  |   | (1,123,113 | ) |
| Net cash provided by (used in) financing activities                                                                                   | (130,564,973 | ) |   | (144,010,158 | ) |  | 20,042,913 |  |
| Net decrease in cash and cash equivalents                                                                                             | (2,485,661 | ) |   | (2,091,336 | ) |   | (3,848,273 | ) |
| CASH AND CASH EQUIVALENTS:                                                                                                            |   |   |   |   |   |
| Beginning of year                                                                                                                     | 2,839,766 |  |   | 4,931,102 |  |   | 8,779,375 |  |
| End of year                                                                                                                           | $ | 354,105 |  |   | $ | 2,839,766 |  |   | $ | 4,931,102 |  |
| SUPPLEMENTAL DISCLOSURES:                                                                                                             |   |   |   |   |   |
| CASH PAID DURING THE YEAR:                                                                                                            |   |   |   |   |   |
| Interest - Debt facility                                                                                                              | $ | 2,581,426 |  |   | $ | 5,859,611 |  |   | $ | 6,284,563 |  |
| NON-CASH OPERATING AND FINANCING ACTIVITIES:                                                                                          |   |   |   |   |   |
| Distributions of equity securities and convertible loan to shareholder                                                                | $ | 4,982,028 |  |   | $ | 3,425,310 |  |   | $ | 13,365,899 |  |
| Receipt of equity securities and convertible loan as repayment of loans                                                               | $ | 4,982,028 |  |   | $ | 2,035,371 |  |   | $ | 1,293,833 |  |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                      | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
| Computers & Storage       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                          | Canary Connect, Inc. |   |   |   | Senior Secured |   | 12.8% |   |   |   | $ | 577,487 |  |   | $ | 509,119 |  |   | $ | 509,119 |  |   | 12/1/2020 |
|                          | Rigetti & Co., Inc. |   |   |   | Senior Secured |   | 9.0% |   | 2.8% |   |               194,537 |  |   |               194,122 |  |   | 194,122 |  |   | 1/1/2020 |
| Computers & Storage Total |   |   | 1.0% |   |   |   |   |   |   |   | $ | 772,024 |  |   | $ | 703,241 |  |   | $ | 703,241 |  |   |   |
|                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Internet                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                          | Amino Payments, Inc. |   |   |   | Senior Secured |   | 10.8% |   |   |   | $ | 448,596 |  |   | $ | 422,199 |  |   | $ | 422,199 |  |   | 9/1/2021 |
|                          | Bombfell, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               656,522 |  |   |               647,811 |  |   | 647,811 |  |   | 10/1/2021 |
|                          | Cowboy Analytics, LLC |   |   |   | Senior Secured |   | 5.5% |   |   |   |               259,030 |  |   |               142,347 |  |   | 71,877 |  |   | * |
|                          | CustomMade, Inc. |   |   |   | Senior Secured |   | 0.0% |   |   |   |           1,651,771 |  |   |               706,026 |  |   | 706,026 |  |   | * |
|                          | Digital Caddies, Inc. ** |   |   |   | Senior Secured |   | 18.0% |   |   |   |               989,068 |  |   |               987,584 |  |   | — |  |   | * |
|                          | Giddy Apps, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |           1,240,498 |  |   |               965,454 |  |   | — |  |   | * |
|                          | Leading ED, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               175,000 |  |   |                         76 |  |   | — |  |   | * |
|                          | Relay Network, LLC |   |   |   | Senior Secured |   | 8.0% |   | 4.4% |   |               355,349 |  |   |               353,403 |  |   | 353,403 |  |   | 9/1/2020 |
|                          | Relay Network, LLC |   |   |   | Senior Secured |   | 8.0% |   | 4.4% |   |               355,319 |  |   |               350,310 |  |   | 350,310 |  |   | 9/1/2020 |
|                          | Relay Network, LLC Subtotal |   |   |   |   |   |   |   |   |   |               710,668 |  |   |               703,713 |  |   | 703,713 |  |   |   |
|                          | Spot.IM, Ltd. ** ^ |   |   |   | Senior Secured |   | 11.8% |   |   |   |                 46,419 |  |   |                 45,732 |  |   | 45,732 |  |   | 5/1/2020 |
|                          | Spot.IM, Ltd. ** ^ |   |   |   | Senior Secured |   | 12.5% |   |   |   |                 46,752 |  |   |                 46,415 |  |   | 46,415 |  |   | 5/1/2020 |
|                          | Spot.IM, Ltd. ** ^ Subtotal |   |   |   |   |   |   |   |   |   |                 93,171 |  |   |                 92,147 |  |   | 92,147 |  |   |   |
|                          | Tango Card, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               595,825 |  |   |               591,279 |  |   | 591,279 |  |   | 11/1/2020 |
|                          | Wristcam Inc. ** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |           3,775,908 |  |   |           3,069,657 |  |   | 890,055 |  |   | * |
|                          | YouDocs Beauty, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |           1,350,000 |  |   |           1,192,024 |  |   | 1,192,024 |  |   | * |
| Internet Total                |   |   | 7.5% |   |   |   |   |   |   |   | $ | 11,946,057 |  |   | $ | 9,520,317 |  |   | $ | 5,317,131 |  |   |   |
|                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Medical Devices               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                          | AxioMed, Inc. |   |   |   | Unsecured |   | 0.0% |   |   |   | $ | 14,238 |  |   | $ | 14,238 |  |   | $ | — |  |   | * |
|                          | Renovia, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               220,276 |  |   |               217,530 |  |   | 217,530 |  |   | 6/1/2020 |
|                          | Renovia, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               394,841 |  |   |               392,580 |  |   | 392,580 |  |   | 11/1/2020 |
|                          | Renovia, Inc. Subtotal |   |   |   |   |   |   |   |   |   |               615,117 |  |   |               610,110 |  |   | 610,110 |  |   |   |
| Medical Devices Total         |   |   | 0.9% |   |   |   |   |   |   |   | $ | 629,355 |  |   | $ | 624,348 |  |   | $ | 610,110 |  |   |   |
|                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Healthcare              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                          | 4G Clinical LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   | $ | 255,880 |  |   | $ | 252,650 |  |   | $ | 252,650 |  |   | 7/1/2020 |
|                          | Clover Health Investments Corporation |   |   |   | Senior Secured |   | 11.3% |   |   |   |           9,417,408 |  |   |           9,417,408 |  |   | 9,417,408 |  |   | 10/1/2022 |

----

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry               | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                   | Clover Health Investments Corporation |   |   |   | Senior Secured |   | 11.0% |   |   |   |         14,722,192 |  |   |         14,722,191 |  |   | 14,722,191 |  |   | 3/1/2022 |
|                   | Clover Health Investments Corporation Subtotal |   |   |   |   |   |   |   |   |   |         24,139,600 |  |   |         24,139,599 |  |   | 24,139,599 |  |   |   |
|                   | MD Revolution, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |               139,624 |  |   |               138,801 |  |   | 138,801 |  |   | 3/1/2020 |
|                   | mPharma Data, Inc. ** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |               135,340 |  |   |               133,045 |  |   | 133,045 |  |   | 11/1/2020 |
|                   | mPharma Data, Inc. ** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |               181,549 |  |   |               180,264 |  |   | 180,264 |  |   | 3/1/2021 |
|                   | mPharma Data, Inc. ** ^ Subtotal |   |   |   |   |   |   |   |   |   |               316,889 |  |   |               313,309 |  |   | 313,309 |  |   |   |
|                   | Myolex, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |               762,531 |  |   |               726,537 |  |   | 238,967 |  |   | * |
|                   | Physician Software Systems, LLC |   |   |   | Senior Secured |   | 18.0% |   |   |   |               164,677 |  |   |               148,042 |  |   | — |  |   | * |
|                   | Sparta Software Corporation |   |   |   | Senior Secured |   | 10.0% |   | 2.5% |   |                 42,282 |  |   |                 41,691 |  |   | 41,691 |  |   | 6/1/2020 |
| Other Healthcare Total |   |   | 35.1% |   |   |   |   |   |   |   | $ | 25,821,483 |  |   | $ | 25,760,629 |  |   | $ | 25,125,017 |  |   |   |
|                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Technology       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                   | BloomLife, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   | 44,885 |  |   | 44,433 |  |   | 44,433 |  |   | 4/1/2020 |
|                   | Consumer Physics, Inc. ** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |               822,854 |  |   |               787,630 |  |   | 729,155 |  |   | 1/1/2022 |
|                   | Flo Water, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                 64,052 |  |   |                 62,946 |  |   | 62,946 |  |   | 5/1/2020 |
|                   | Gap Year Global, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |                 90,768 |  |   |                 86,359 |  |   | — |  |   | * |
|                   | Heartwork, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |               379,462 |  |   |               371,981 |  |   | 73,493 |  |   | * |
|                   | Hint, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |           1,321,439 |  |   |           1,277,919 |  |   | 1,277,919 |  |   | 3/1/2021 |
|                   | Hint, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |           1,644,377 |  |   |           1,644,377 |  |   | 1,644,377 |  |   | 7/1/2021 |
|                   | Hint, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           2,965,816 |  |   |           2,922,296 |  |   | 2,922,296 |  |   |   |
|                   | June Life, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               129,682 |  |   |               128,895 |  |   | 128,895 |  |   | 3/1/2020 |
|                   | June Life, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               129,691 |  |   |               129,319 |  |   | 129,319 |  |   | 3/1/2020 |
|                   | June Life, Inc. Subtotal |   |   |   |   |   |   |   |   |   |               259,373 |  |   |               258,214 |  |   | 258,214 |  |   |   |
|                   | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.0% |   |   |   |               355,735 |  |   |               351,225 |  |   | 351,225 |  |   | 3/1/2020 |
|                   | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.3% |   |   |   |           1,336,381 |  |   |           1,328,045 |  |   | 1,328,045 |  |   | 3/1/2021 |
|                   | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.0% |   |   |   |           1,033,301 |  |   |           1,027,199 |  |   | 1,027,199 |  |   | 9/1/2020 |
|                   | LanzaTech New Zealand Ltd. Subtotal |   |   |   |   |   |   |   |   |   |           2,725,417 |  |   |           2,706,469 |  |   | 2,706,469 |  |   |   |
|                   | MobyFox, Inc. |   |   |   | Senior Secured |   | 4.0% |   |   |   |               500,000 |  |   |               193,300 |  |   | 47,500 |  |   | * |
|                   | Neuehouse, LLC |   |   |   | Senior Secured |   | 12.0% |   |   |   |           1,750,000 |  |   |           1,297,265 |  |   | 1,297,265 |  |   | * |
|                   | Noteleaf, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               489,249 |  |   |               485,228 |  |   | 485,228 |  |   | 9/1/2020 |
|                   | PDQ Enterprises LLC ** |   |   |   | Senior Secured |   | 11.0% |   |   |   |           1,597,950 |  |   |           1,583,889 |  |   | 1,583,889 |  |   | 2/1/2021 |
|                   | PLAE, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 3.2% |   |               621,378 |  |   |               613,950 |  |   | 365,025 |  |   | 12/1/2020 |
|                   | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 9.4% |   |               720,381 |  |   |               715,351 |  |   | 715,351 |  |   | 3/1/2021 |
|                   | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 11.7% |   |               669,055 |  |   |               657,374 |  |   | 657,374 |  |   | 1/1/2021 |
|                   | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 11.7% |   |           2,129,724 |  |   |           2,074,806 |  |   | 2,074,806 |  |   | 9/1/2021 |

----

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                             | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                                 | Plenty Unlimited, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           3,519,160 |  |   |           3,447,531 |  |   | 3,447,531 |  |   |   |
|                                 | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |               179,654 |  |   |               178,576 |  |   | 178,576 |  |   | 10/1/2020 |
|                                 | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |               329,036 |  |   |               325,320 |  |   | 325,320 |  |   | 6/1/2020 |
|                                 | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |               196,798 |  |   |               195,476 |  |   | 195,476 |  |   | 11/1/2020 |
|                                 | SkyKick, Inc. Subtotal |   |   |   |   |   |   |   |   |   |               705,488 |  |   |               699,372 |  |   | 699,372 |  |   |   |
|                                 | TAE Technologies, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |           1,411,739 |  |   |           1,397,787 |  |   | 1,397,787 |  |   | 4/1/2021 |
|                                 | TAE Technologies, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |           5,320,565 |  |   |           5,205,606 |  |   | 5,205,606 |  |   | 3/1/2021 |
|                                 | TAE Technologies, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           6,732,304 |  |   |           6,603,393 |  |   | 6,603,393 |  |   |   |
|                                 | VentureBeat, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               825,775 |  |   |               607,172 |  |   | 212,669 |  |   | * |
|                                 | Virtuix Holdings, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               191,811 |  |   |               189,767 |  |   | 189,767 |  |   | 7/1/2020 |
| Other Technology Total               |   |   | 30.5% |   |   |   |   |   |   |   | $ | 24,285,742 |  |   | $ | 22,961,195 |  |   | $ | 21,728,645 |  |   |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Security                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | Nok Nok Labs, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   | $ | 278,668 |  |   | $ | 262,884 |  |   | $ | 262,884 |  |   | 12/1/2020 |
| Security Total                       |   |   | 0.4% |   |   |   |   |   |   |   | $ | 278,668 |  |   | $ | 262,884 |  |   | $ | 262,884 |  |   |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Semiconductors & Equipment       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | ETA Compute, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   | $ | 72,471 |  |   | $ | 72,179 |  |   | $ | 72,179 |  |   | 8/1/2020 |
| Semiconductors & Equipment Total |   |   | 0.1% |   |   |   |   |   |   |   | $ | 72,471 |  |   | $ | 72,179 |  |   | $ | 72,179 |  |   |   |
|                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Software                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | Aptible, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   | $ | 114,677 |  |   | $ | 113,164 |  |   | $ | 113,164 |  |   | 2/1/2021 |
|                                 | Bloomboard, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |           2,507,253 |  |   |           1,726,360 |  |   | 1,609,258 |  |   | * |
|                                 | BlueCart, Inc. |   |   |   | Senior Secured |   | 12.8% |   |   |   |                   8,832 |  |   |                   8,821 |  |   | 8,821 |  |   | 1/1/2020 |
|                                 | BlueCart, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                 17,613 |  |   |                 17,561 |  |   | 17,561 |  |   | 1/1/2020 |
|                                 | BlueCart, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                 26,445 |  |   |                 26,382 |  |   | 26,382 |  |   |   |
|                                 | DealPath, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               931,379 |  |   |               917,163 |  |   | 917,163 |  |   | 5/1/2021 |
|                                 | DemystData Limited |   |   |   | Senior Secured |   | 11.8% |   |   |   |               185,689 |  |   |               182,802 |  |   | 182,802 |  |   | 5/1/2020 |
|                                 | DemystData Limited |   |   |   | Senior Secured |   | 11.8% |   |   |   |               128,725 |  |   |               128,084 |  |   | 128,084 |  |   | 7/1/2020 |
|                                 | DemystData Limited Subtotal |   |   |   |   |   |   |   |   |   |               314,414 |  |   |               310,886 |  |   | 310,886 |  |   |   |
|                                 | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 27,932 |  |   |                 27,877 |  |   | 27,877 |  |   | 3/1/2020 |
|                                 | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 21,052 |  |   |                 21,008 |  |   | 21,008 |  |   | 3/1/2020 |
|                                 | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 20,949 |  |   |                 20,782 |  |   | 20,782 |  |   | 3/1/2020 |
|                                 | Drift Marketplace, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                 69,933 |  |   |                 69,667 |  |   | 69,667 |  |   |   |
|                                 | Estify, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |               842,819 |  |   |               818,731 |  |   | 261,969 |  |   | * |
|                                 | FieldAware US, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |           7,616,117 |  |   |           7,177,946 |  |   | 4,483,233 |  |   | * |

----

|                     |
|---------------------|
|                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry            | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |           1,322,592 |  |   |           1,317,051 |  |   | 1,317,051 |  |   | 3/1/2021 |
|                | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |               790,132 |  |   |               787,238 |  |   | 787,238 |  |   | 11/1/2020 |
|                | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |               977,945 |  |   |               952,723 |  |   | 952,723 |  |   | 9/1/2020 |
|                | Gearbox Software, LLC Subtotal |   |   |   |   |   |   |   |   |   |           3,090,669 |  |   |           3,057,012 |  |   | 3,057,012 |  |   |   |
|                | GoFormz, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               716,482 |  |   |               683,705 |  |   | 683,705 |  |   | 11/1/2020 |
|                | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               779,652 |  |   |               779,652 |  |   | 779,652 |  |   | 4/1/2021 |
|                | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               221,827 |  |   |               217,619 |  |   | 217,619 |  |   | 6/1/2020 |
|                | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               909,416 |  |   |               893,275 |  |   | 893,275 |  |   | 4/1/2021 |
|                | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               909,506 |  |   |               909,506 |  |   | 909,506 |  |   | 4/1/2021 |
|                | Invoice2Go, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           2,820,401 |  |   |           2,800,052 |  |   | 2,800,052 |  |   |   |
|                | JethroData, Inc. ** ^ |   |   |   | Senior Secured |   | 18.0% |   |   |   |               704,868 |  |   |               681,877 |  |   | 327,328 |  |   | * |
|                | Metarail, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               672,294 |  |   |               649,249 |  |   | 285,595 |  |   | 6/1/2022 |
|                | Migo Money, Inc. ** ^ |   |   |   | Senior Secured |   | 12.0% |   |   |   |               129,034 |  |   |               126,786 |  |   | 126,786 |  |   | 7/1/2020 |
|                | Swrve, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               988,691 |  |   |               942,283 |  |   | 942,283 |  |   | 11/1/2020 |
|                | The/Studio Technologies, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               165,210 |  |   |               161,987 |  |   | 161,987 |  |   | 6/1/2020 |
|                | Truss Technology Corporation |   |   |   | Senior Secured |   | 2.2% |   |   |   |           2,000,000 |  |   |               238,275 |  |   | — |  |   | * |
|                | VenueNext, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               276,785 |  |   |               272,729 |  |   | 272,729 |  |   | 5/1/2020 |
|                | Viewpost Holdings, LLC. |   |   |   | Senior Secured |   | 11.5% |   |   |   |         11,000,000 |  |   |         10,324,150 |  |   | 3,646,987 |  |   | * |
|                | Vuemix, Inc. |   |   |   | Senior Secured |   | 11.3% |   |   |   |                 98,925 |  |   |                 97,130 |  |   | 97,130 |  |   | 11/1/2020 |
|                | Xeeva, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               636,722 |  |   |               634,250 |  |   | 634,250 |  |   | 7/1/2020 |
| Software Total      |   |   | 29.2% |   |   |   |   |   |   |   | $ | 35,723,118 |  |   | $ | 31,829,784 |  |   | $ | 20,827,566 |  |   |   |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Technology Services |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   | $ | 224,210 |  |   | $ | 222,872 |  |   | $ | 222,872 |  |   | 10/1/2020 |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               158,653 |  |   |               158,004 |  |   | 158,004 |  |   | 7/1/2020 |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               228,495 |  |   |               226,378 |  |   | 226,378 |  |   | 5/1/2020 |
|                | AirHelp, Inc. Subtotal |   |   |   |   |   |   |   |   |   |               611,358 |  |   |               607,254 |  |   | 607,254 |  |   |   |
|                | Akademos, Inc. |   |   |   | Junior Secured |   | 13.5% |   | 1.5% |   |               310,059 |  |   |               296,533 |  |   | 296,533 |  |   | 8/1/2020 |
|                | Blazent, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |           1,554,190 |  |   |           1,176,871 |  |   | 519,570 |  |   | * |
|                | Blue Technologies Limited ** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 73,765 |  |   |                 73,282 |  |   | 73,282 |  |   | 4/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               677,238 |  |   |               674,538 |  |   | 674,538 |  |   | 12/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               867,752 |  |   |               863,859 |  |   | 863,859 |  |   | 6/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               514,237 |  |   |               512,656 |  |   | 512,656 |  |   | 9/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |               836,205 |  |   |               832,109 |  |   | 832,109 |  |   | 3/1/2021 |
|                | Callisto Media, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           2,895,432 |  |   |           2,883,162 |  |   | 2,883,162 |  |   |   |
|                | Dolly, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               610,970 |  |   |               597,981 |  |   | 597,981 |  |   | 5/1/2021 |

----

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                  | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                      | Fluxx Labs |   |   |   | Senior Secured |   | 11.8% |   |   |   |               225,096 |  |   |               222,897 |  |   | 222,897 |  |   | 6/1/2020 |
|                      | PayJoy, Inc. ** |   |   |   | Senior Secured |   | 10.0% |   |   |   |               687,580 |  |   |               665,991 |  |   | 665,991 |  |   | 8/1/2021 |
|                      | TrueFacet, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |               946,610 |  |   |               893,580 |  |   | 4,969 |  |   | * |
|                      | Zeel Networks, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |               571,424 |  |   |               556,082 |  |   | 556,082 |  |   | 8/1/2020 |
| Technology Services Total |   |   | 9.0% |   |   |   |   |   |   |   | $ | 8,486,484 |  |   | $ | 7,973,633 |  |   | $ | 6,427,721 |  |   |   |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Wireless                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      | Juvo Mobile, Inc. ** |   |   |   | Senior Secured |   | 11.0% |   |   |   | $ | 37,413 |  |   | $ | 37,350 |  |   | $ | 37,350 |  |   | 2/1/2020 |
|                      | Juvo Mobile, Inc. ** |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 18,792 |  |   |                 18,773 |  |   | 18,773 |  |   | 1/1/2020 |
|                      | Juvo Mobile, Inc. ** Subtotal |   |   |   |   |   |   |   |   |   |                 56,205 |  |   |                 56,123 |  |   | 56,123 |  |   |   |
|                      | Nextivity, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |               808,783 |  |   |               808,783 |  |   | 808,783 |  |   | 6/1/2021 |
|                      | Nextivity, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |           2,964,747 |  |   |           2,964,590 |  |   | 2,964,590 |  |   | 6/1/2021 |
|                      | Nextivity, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           3,773,530 |  |   |           3,773,373 |  |   | 3,773,373 |  |   |   |
|                      | Parallel Wireless, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               543,960 |  |   |               541,246 |  |   | 541,246 |  |   | 10/1/2020 |
|                      | Parallel Wireless, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |               522,646 |  |   |               519,754 |  |   | 519,754 |  |   | 4/1/2020 |
|                      | Parallel Wireless, Inc. Subtotal |   |   |   |   |   |   |   |   |   |           1,066,606 |  |   |           1,061,000 |  |   | 1,061,000 |  |   |   |
| Wireless Total            |   |   | 6.9% |   |   |   |   |   |   |   | $ | 4,896,341 |  |   | $ | 4,890,496 |  |   | $ | 4,890,496 |  |   |   |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      | Grand Total |   | 120.6% |   |   |   |   |   |   |   | $ | 112,911,743 |  |   | $ | 104,598,706 |  |   | $ | 85,964,990 |  |   |   |

----

|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                    | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Biotechnology               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                        | Phylagen, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   | $ | 59,449 |  |   | $ | 58,346 |  |   | $ | 58,346 |  |   | 7/1/2019 |
|                        | Phylagen, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   122,508 |  |   |                      121,178 |  |   |                      121,178 |  |   | 3/1/2020 |
| Biotechnology Total         |   |   | 0.1% |   |   |   |   |   |   |   | $ | 181,957 |  |   | $ | 179,524 |  |   | $ | 179,524 |  |   |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Computers and Storage       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                        | Canary Connect, Inc. |   |   |   | Senior Secured |   | 12.8% |   |   |   | $ | 1,085,881 |  |   | $ | 861,061 |  |   | $ | 861,061 |  |   | 12/1/2020 |
|                        | HyperGrid, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      537,952 |  |   |                      528,364 |  |   |                      528,364 |  |   | 12/1/2019 |
|                        | Rigetti & Co., Inc. |   |   |   | Senior Secured |   | 9.0% |   | 2.8% |   |                        48,635 |  |   |                        48,504 |  |   |                        48,504 |  |   | 1/1/2019 |
|                        | Rigetti & Co., Inc. |   |   |   | Senior Secured |   | 9.0% |   | 2.8% |   |                   1,432,659 |  |   |                   1,410,884 |  |   |                   1,410,884 |  |   | 1/1/2020 |
|                        | Rigetti & Co., Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,481,294 |  |   |                   1,459,388 |  |   |                   1,459,388 |  |   |   |
| Computers and Storage Total |   |   | 2.2% |   |   |   |   |   |   |   | $ | 3,105,127 |  |   | $ | 2,848,813 |  |   | $ | 2,848,813 |  |   |   |
|                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Internet                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                        | Amino Payments, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 4.1% |   | $ | 126,953 |  |   | $ | 125,274 |  |   | $ | 125,274 |  |   | 3/1/2021 |
|                        | Amino Payments, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 5.2% |   |                      256,492 |  |   |                      246,252 |  |   |                      246,252 |  |   | 3/1/2021 |
|                        | Amino Payments, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 4.4% |   |                      254,592 |  |   |                      251,329 |  |   |                      251,329 |  |   | 3/1/2021 |
|                        | Amino Payments, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      638,037 |  |   |                      622,855 |  |   |                      622,855 |  |   |   |
|                        | Apartment List, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      506,854 |  |   |                      497,685 |  |   |                      497,685 |  |   | 11/1/2019 |
|                        | Bitfinder, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      360,053 |  |   |                      351,451 |  |   |                      351,451 |  |   | 9/1/2020 |
|                        | Bombfell, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      421,445 |  |   |                      405,621 |  |   |                      405,621 |  |   | 1/1/2021 |
|                        | Bombfell, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      465,802 |  |   |                      460,262 |  |   |                      460,262 |  |   | 4/1/2021 |
|                        | Bombfell, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      887,247 |  |   |                      865,883 |  |   |                      865,883 |  |   |   |
|                        | CapLinked, Inc. |   |   |   | Senior Secured |   | 12.8% |   |   |   |                           9,565 |  |   |                           9,550 |  |   |                           9,550 |  |   | 1/1/2019 |
|                        | Cowboy Analytics, LLC |   |   |   | Senior Secured |   | 5.5% |   |   |   |                      259,030 |  |   |                      165,147 |  |   |                      121,412 |  |   | * |
|                        | CustomMade, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,374,552 |  |   |                      697,026 |  |   |                      697,026 |  |   | * |
|                        | Deja Mi, Inc. |   |   |   | Senior Secured |   | 0% |   |   |   |                      100,000 |  |   |                      803,288 |  |   |                        11,300 |  |   | * |
|                        | Digital Caddies, Inc.** |   |   |   | Senior Secured |   | 18.0% |   |   |   |                      989,068 |  |   |                      987,584 |  |   | — |  |   | * |
|                        | DreamCloud Holdings, LLC |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      172,846 |  |   |                      163,907 |  |   |                      163,907 |  |   | 8/1/2020 |
|                        | DreamCloud Holdings, LLC |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      471,111 |  |   |                      438,773 |  |   |                      438,773 |  |   | 6/1/2020 |
|                        | DreamCloud Holdings, LLC Subtotal |   |   |   |   |   |   |   |   |   |                      643,957 |  |   |                      602,680 |  |   |                      602,680 |  |   |   |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry              | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                  | Giddy Apps, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                   1,240,498 |  |   |                      999,454 |  |   | — |  |   | * |
|                  | Glide, Inc.** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   4,369,958 |  |   |                   4,050,096 |  |   |                      691,014 |  |   | * |
|                  | Honk Technologies, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      595,641 |  |   |                      589,925 |  |   |                      589,925 |  |   | 5/1/2020 |
|                  | Honk Technologies, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      645,595 |  |   |                      633,385 |  |   |                      633,385 |  |   | 12/1/2019 |
|                  | Honk Technologies, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,241,236 |  |   |                   1,223,310 |  |   |                   1,223,310 |  |   |   |
|                  | Leading ED, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      175,000 |  |   |                                76 |  |   | — |  |   | * |
|                  | Playstudios, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      963,077 |  |   |                      936,909 |  |   |                      936,909 |  |   | 3/1/2021 |
|                  | Radius Intelligence, Inc. |   |   |   | Senior Secured |   | 8.0% |   | 9.2% |   |                   7,421,159 |  |   |                   7,126,941 |  |   |                   6,151,429 |  |   | 10/1/2021 |
|                  | Relay Network, LLC |   |   |   | Senior Secured |   | 8.0% |   | 4.4% |   |                      732,924 |  |   |                      711,759 |  |   |                      711,759 |  |   | 9/1/2020 |
|                  | Relay Network, LLC |   |   |   | Senior Secured |   | 8.0% |   | 4.4% |   |                      733,049 |  |   |                      724,776 |  |   |                      724,776 |  |   | 9/1/2020 |
|                  | Relay Network, LLC Subtotal |   |   |   |   |   |   |   |   |   |                   1,465,973 |  |   |                   1,436,535 |  |   |                   1,436,535 |  |   |   |
|                  | Spot.IM, Ltd.** ^ |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      149,016 |  |   |                      142,655 |  |   |                      142,655 |  |   | 5/1/2020 |
|                  | Spot.IM, Ltd.** ^ |   |   |   | Senior Secured |   | 12.5% |   |   |   |                      149,520 |  |   |                      146,386 |  |   |                      146,386 |  |   | 5/1/2020 |
|                  | Spot.IM, Ltd.** ^ |   |   |   | Senior Secured |   | 12.5% |   |   |   |                      216,500 |  |   |                      208,266 |  |   |                      208,266 |  |   | 12/1/2019 |
|                  | Spot.IM, Ltd.** ^Subtotal |   |   |   |   |   |   |   |   |   |                      515,036 |  |   |                      497,307 |  |   |                      497,307 |  |   |   |
|                  | Super Home, Inc. |   |   |   | Senior Secured |   | 11.3% |   |   |   |                        27,989 |  |   |                        27,681 |  |   |                        27,681 |  |   | 3/1/2019 |
|                  | Tango Card, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   1,175,591 |  |   |                   1,158,103 |  |   |                   1,158,103 |  |   | 11/1/2020 |
|                  | Thrive Market, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      757,323 |  |   |                      753,587 |  |   |                      753,587 |  |   | 9/1/2019 |
|                  | Thrive Market, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   1,514,559 |  |   |                   1,493,078 |  |   |                   1,493,078 |  |   | 9/1/2019 |
|                  | Thrive Market, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   2,271,882 |  |   |                   2,246,665 |  |   |                   2,246,665 |  |   |   |
|                  | Traackr, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                        18,941 |  |   |                        18,860 |  |   |                        18,860 |  |   | 1/1/2019 |
|                  | Traackr, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                        37,334 |  |   |                        37,179 |  |   |                        37,179 |  |   | 4/1/2019 |
|                  | Traackr, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                        56,275 |  |   |                        56,039 |  |   |                        56,039 |  |   |   |
|                  | YouDocs Beauty, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,350,000 |  |   |                   1,192,024 |  |   |                   1,192,024 |  |   | * |
| Internet Total        |   |   | 15.2% |   |   |   |   |   |   |   | $ | 28,042,037 |  |   | $ | 26,554,289 |  |   | $ | 19,396,858 |  |   |   |
|                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Medical Devices       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  | Anutra Medical, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   | $ | 177,487 |  |   | $ | 168,853 |  |   | $ | 168,853 |  |   | 12/1/2019 |
|                  | AxioMed, Inc. |   |   |   | Unsecured |   | 0% |   |   |   |                        14,238 |  |   |                        14,238 |  |   | — |  |   | * |
|                  | Renovia, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      626,245 |  |   |                      605,734 |  |   |                      605,734 |  |   | 6/1/2020 |
|                  | Renovia, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      782,699 |  |   |                      773,934 |  |   |                      773,934 |  |   | 11/1/2020 |
|                  | Renovia, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,408,944 |  |   |                   1,379,668 |  |   |                   1,379,668 |  |   |   |
| Medical Devices Total |   |   | 1.2% |   |   |   |   |   |   |   | $ | 1,600,669 |  |   | $ | 1,562,759 |  |   | $ | 1,548,521 |  |   |   |
|                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Healthcare      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  | 4G Clinical LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   | $ | 658,240 |  |   | $ | 638,103 |  |   | $ | 638,103 |  |   | 7/1/2020 |

----

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry               | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                   | Caredox, Inc. |   |   |   | Senior Secured |   | 11.3% |   |   |   |                        28,241 |  |   |                        28,158 |  |   |                        28,158 |  |   | 1/1/2019 |
|                   | Clover Health Investment Corporation |   |   |   | Senior Secured |   | 11.3% |   |   |   |                   9,894,125 |  |   |                   9,894,125 |  |   |                   9,894,125 |  |   | 10/1/2022 |
|                   | Clover Health Investment Corporation |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 18,462,733 |  |   |                 18,462,733 |  |   |                 18,462,733 |  |   | 3/1/2022 |
|                   | Clover Health Investment Corporation Subtotal |   |   |   |   |   |   |   |   |   |                 28,356,858 |  |   |                 28,356,858 |  |   |                 28,356,858 |  |   |   |
|                   | Hello Doctor, Ltd.** ^ |   |   |   | Senior Secured |   | 12.5% |   |   |   |                        19,830 |  |   |                        19,492 |  |   |                        19,492 |  |   | 3/1/2019 |
|                   | Lean Labs, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                        43,111 |  |   |                        42,446 |  |   |                        42,446 |  |   | 4/1/2019 |
|                   | MD Revolution, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                      656,438 |  |   |                      641,456 |  |   |                      641,456 |  |   | 3/1/2020 |
|                   | mPharma Data, Inc.** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      269,554 |  |   |                      260,665 |  |   |                      260,665 |  |   | 11/1/2020 |
|                   | mPharma Data, Inc.** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      311,364 |  |   |                      307,587 |  |   |                      307,587 |  |   | 3/1/2021 |
|                   | mPharma Data, Inc.** ^ Subtotal |   |   |   |   |   |   |   |   |   |                      580,918 |  |   |                      568,252 |  |   |                      568,252 |  |   |   |
|                   | Myolex, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |                      762,531 |  |   |                      726,537 |  |   |                      238,967 |  |   | * |
|                   | Physician Software Systems, LLC |   |   |   | Senior Secured |   | 18.0% |   |   |   |                      164,677 |  |   |                      148,042 |  |   | — |  |   | * |
|                   | Project Healthy Living, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      602,739 |  |   |                      589,774 |  |   |                      589,774 |  |   | 9/1/2019 |
|                   | Sparta Software Corporation |   |   |   | Senior Secured |   | 10.0% |   | 2.5% |   |                      112,015 |  |   |                      108,064 |  |   |                      108,064 |  |   | 6/1/2020 |
|                   | Trio Health Advisory Group, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                        75,208 |  |   |                        74,744 |  |   |                        74,744 |  |   | 2/1/2019 |
|                   | Wellist, Inc. |   |   |   | Senior Secured |   | 12.3% |   |   |   |                        22,599 |  |   |                        22,260 |  |   |                        22,260 |  |   | 3/1/2019 |
|                   | Wellist, Inc. |   |   |   | Senior Secured |   | 12.3% |   |   |   |                        86,406 |  |   |                        85,410 |  |   |                        85,410 |  |   | 12/1/2019 |
|                   | Wellist, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      109,005 |  |   |                      107,670 |  |   |                      107,670 |  |   |   |
| Other Healthcare Total |   |   | 24.6% |   |   |   |   |   |   |   | $ | 32,169,811 |  |   | $ | 32,049,596 |  |   | $ | 31,413,984 |  |   |   |
|                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Technology       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                   | AltSchool, PBC |   |   |   | Senior Secured |   | 11.0% |   |   |   | $ | 3,813,807 |  |   | $ | 3,599,923 |  |   | $ | 3,599,923 |  |   | 6/1/2020 |
|                   | AltSchool, PBC |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 14,859,433 |  |   |                 14,750,254 |  |   |                 14,750,254 |  |   | 6/1/2021 |
|                   | AltSchool, PBC Subtotal |   |   |   |   |   |   |   |   |   |                 18,673,240 |  |   |                 18,350,177 |  |   |                 18,350,177 |  |   |   |
|                   | BloomLife, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      169,302 |  |   |                      163,710 |  |   |                      163,710 |  |   | 4/1/2020 |
|                   | CommunityCo, LLC |   |   |   | Senior Secured |   | 12.0% |   |   |   |                        33,846 |  |   |                        33,266 |  |   |                        33,266 |  |   | 3/1/2019 |
|                   | Consumer Physics, Inc.** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,089,914 |  |   |                   1,062,742 |  |   |                      908,852 |  |   | 8/1/2019 |
|                   | Ensyn Corporation |   |   |   | Senior Secured |   | 12.3% |   |   |   |                      573,230 |  |   |                      565,857 |  |   |                      565,857 |  |   | 6/1/2019 |
|                   | Ensyn Corporation |   |   |   | Senior Secured |   | 12.3% |   |   |   |                   1,024,930 |  |   |                   1,017,211 |  |   |                   1,017,211 |  |   | 11/1/2019 |
|                   | Ensyn Corporation Subtotal |   |   |   |   |   |   |   |   |   |                   1,598,160 |  |   |                   1,583,068 |  |   |                   1,583,068 |  |   |   |
|                   | ETN Media, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      211,603 |  |   |                      206,043 |  |   |                      173,058 |  |   | 7/1/2020 |
|                   | ETN Media, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      211,748 |  |   |                      209,434 |  |   |                      175,905 |  |   | 7/1/2020 |
|                   | ETN Media, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      423,351 |  |   |                      415,477 |  |   |                      348,963 |  |   |   |
|                   | Flo Water, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      205,832 |  |   |                      195,612 |  |   |                      195,612 |  |   | 5/1/2020 |
|                   | FMTwo Game, Inc. |   |   |   | Senior Secured |   | 4.0% |   |   |   |                      500,000 |  |   |                      193,300 |  |   |                        18,900 |  |   | * |
|                   | Gap Year Global, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |                        90,768 |  |   |                        86,359 |  |   | — |  |   | * |

----

|          |
|----------|
|          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|     | Greats Brand, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                        63,960 |  |   |                        61,945 |  |   |                        61,945 |  |   | 7/1/2019 |
|     | Greats Brand, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      107,205 |  |   |                      106,216 |  |   |                      106,216 |  |   | 12/1/2019 |
|     | Greats Brand, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      171,165 |  |   |                      168,161 |  |   |                      168,161 |  |   |   |
|     | Heartwork, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      465,983 |  |   |                      436,474 |  |   |                      281,506 |  |   | 9/1/2020 |
|     | Hint, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   2,255,803 |  |   |                   2,130,280 |  |   |                   2,130,280 |  |   | 3/1/2021 |
|     | Hint, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   2,474,151 |  |   |                   2,474,151 |  |   |                   2,474,151 |  |   | 7/1/2021 |
|     | Hint, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   4,729,954 |  |   |                   4,604,431 |  |   |                   4,604,431 |  |   |   |
|     | ICON Aircraft, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      719,616 |  |   |                      714,154 |  |   |                      714,154 |  |   | 5/1/2019 |
|     | June Life, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      611,965 |  |   |                      597,587 |  |   |                      597,587 |  |   | 3/1/2020 |
|     | June Life, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      612,139 |  |   |                      605,287 |  |   |                      605,287 |  |   | 3/1/2020 |
|     | June Life, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,224,104 |  |   |                   1,202,874 |  |   |                   1,202,874 |  |   |   |
|     | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.0% |   |   |   |                   1,669,064 |  |   |                   1,588,287 |  |   |                   1,588,287 |  |   | 3/1/2020 |
|     | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.3% |   |   |   |                   2,257,809 |  |   |                   2,233,790 |  |   |                   2,233,790 |  |   | 3/1/2021 |
|     | LanzaTech New Zealand Ltd. |   |   |   | Senior Secured |   | 13.0% |   |   |   |                   2,264,030 |  |   |                   2,235,397 |  |   |                   2,235,397 |  |   | 9/1/2020 |
|     | LanzaTech New Zealand Ltd. Subtotal |   |   |   |   |   |   |   |   |   |                   6,190,903 |  |   |                   6,057,474 |  |   |                   6,057,474 |  |   |   |
|     | Neuehouse, LLC |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   1,750,000 |  |   |                   1,323,215 |  |   |                   1,323,215 |  |   | * |
|     | Noteleaf, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,081,842 |  |   |                   1,062,771 |  |   |                   1,062,771 |  |   | 9/1/2020 |
|     | nWay, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      810,035 |  |   |                      603,373 |  |   |                      433,309 |  |   | * |
|     | PDQ Enterprises LLC** |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   2,814,193 |  |   |                   2,770,652 |  |   |                   2,770,652 |  |   | 2/1/2021 |
|     | PLAE, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 3.2% |   |                   1,135,076 |  |   |                   1,110,298 |  |   |                   1,110,298 |  |   | 12/1/2020 |
|     | Planet Labs, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,700,417 |  |   |                   1,694,856 |  |   |                   1,694,856 |  |   | 3/1/2019 |
|     | Planet Labs, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 12,362,729 |  |   |                 11,937,236 |  |   |                 11,937,236 |  |   | 11/1/2021 |
|     | Planet Labs, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                 12,375,336 |  |   |                 12,375,336 |  |   |                 12,375,336 |  |   | 8/1/2022 |
|     | Planet Labs, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                 26,438,482 |  |   |                 26,007,428 |  |   |                 26,007,428 |  |   |   |
|     | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 11.7% |   |                   1,120,932 |  |   |                   1,087,343 |  |   |                   1,087,343 |  |   | 1/1/2021 |
|     | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 9.4% |   |                   1,166,482 |  |   |                   1,153,018 |  |   |                   1,153,018 |  |   | 3/1/2021 |
|     | Plenty Unlimited, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 11.7% |   |                   3,040,235 |  |   |                   2,925,880 |  |   |                   2,925,880 |  |   | 9/1/2021 |
|     | Plenty Unlimited, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   5,327,649 |  |   |                   5,166,241 |  |   |                   5,166,241 |  |   |   |
|     | Plethora, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 4.3% |   |                      149,605 |  |   |                      149,118 |  |   |                      149,118 |  |   | 3/1/2019 |
|     | Plethora, Inc. |   |   |   | Senior Secured |   | 9.0% |   | 4.3% |   |                      225,218 |  |   |                      223,515 |  |   |                      223,515 |  |   | 3/1/2019 |
|     | Plethora, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      374,823 |  |   |                      372,633 |  |   |                      372,633 |  |   |   |
|     | Rosco & Benedetto Co, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      122,323 |  |   |                      119,832 |  |   |                      119,832 |  |   | 9/1/2019 |
|     | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      375,566 |  |   |                      370,957 |  |   |                      370,957 |  |   | 10/1/2020 |
|     | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      391,035 |  |   |                      385,892 |  |   |                      385,892 |  |   | 11/1/2020 |
|     | SkyKick, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      937,688 |  |   |                      909,812 |  |   |                      909,812 |  |   | 6/1/2020 |

----

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                           | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                               | SkyKick, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,704,289 |  |   |                   1,666,661 |  |   |                   1,666,661 |  |   |   |
|                               | TAE Technologies, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                   2,327,066 |  |   |                   2,288,844 |  |   |                   2,288,844 |  |   | 4/1/2021 |
|                               | TAE Technologies, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                   9,019,608 |  |   |                   8,689,345 |  |   |                   8,689,345 |  |   | 3/1/2021 |
|                               | TAE Technologies, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                 11,346,674 |  |   |                 10,978,189 |  |   |                 10,978,189 |  |   |   |
|                               | Theatro Labs, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      238,897 |  |   |                      237,912 |  |   |                      237,912 |  |   | 3/1/2019 |
|                               | VentureBeat, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      825,775 |  |   |                      706,637 |  |   |                      287,194 |  |   | * |
|                               | Virtuix Holdings, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      493,447 |  |   |                      480,680 |  |   |                      480,680 |  |   | 7/1/2020 |
|                               | Wine Plum, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      163,116 |  |   |                      161,937 |  |   |                      161,937 |  |   | 9/1/2019 |
|                               | Wine Plum, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      163,078 |  |   |                      162,089 |  |   |                      162,089 |  |   | 9/1/2019 |
|                               | Wine Plum, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      325,940 |  |   |                      321,469 |  |   |                      321,469 |  |   | 9/1/2019 |
|                               | Wine Plum, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      652,134 |  |   |                      645,495 |  |   |                      645,495 |  |   |   |
| Other Technology Total             |   |   | 68.3% |   |   |   |   |   |   |   | $ | 91,401,777 |  |   | $ | 88,519,296 |  |   | $ | 87,293,658 |  |   |   |
|                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Security                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                               | Guardian Analytics, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   | $ | 491,579 |  |   | $ | 487,165 |  |   | $ | 487,165 |  |   | 2/1/2019 |
|                               | Nok Nok Labs, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                      524,603 |  |   |                      470,577 |  |   |                      470,577 |  |   | 12/1/2020 |
|                               | ThinAir Labs, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |                   1,128,607 |  |   |                   1,105,396 |  |   | — |  |   | * |
| Security Total                     |   |   | 0.8% |   |   |   |   |   |   |   | $ | 2,144,789 |  |   | $ | 2,063,138 |  |   | $ | 957,742 |  |   |   |
|                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Semiconductors and Equipment       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                               | ETA Compute, Inc. |   |   |   | Senior Secured |   | 10.3% |   |   |   | $ | 89,662 |  |   | $ | 88,268 |  |   | $ | 88,268 |  |   | 10/1/2019 |
|                               | ETA Compute, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      172,132 |  |   |                      170,545 |  |   |                      170,545 |  |   | 8/1/2020 |
| Semiconductors and Equipment Total |   |   | 0.2% |   |   |   |   |   |   |   | $ | 261,794 |  |   | $ | 258,813 |  |   | $ | 258,813 |  |   |   |
|                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Software                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                               | Apptimize, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   | $ | 55,593 |  |   | $ | 55,467 |  |   | $ | 55,467 |  |   | 3/1/2019 |
|                               | Aptible, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      201,258 |  |   |                      196,606 |  |   |                      196,606 |  |   | 2/1/2021 |
|                               | Bloomboard, Inc. |   |   |   | Senior Secured |   | 18.0% |   |   |   |                   2,017,197 |  |   |                   2,001,360 |  |   |                      751,755 |  |   | * |
|                               | BlueCart, Inc. |   |   |   | Senior Secured |   | 12.8% |   |   |   |                      107,832 |  |   |                      106,891 |  |   |                      106,891 |  |   | 1/1/2020 |
|                               | BlueCart, Inc. |   |   |   | Senior Secured |   | 12.5% |   |   |   |                      215,283 |  |   |                      211,017 |  |   |                      211,017 |  |   | 1/1/2020 |
|                               | BlueCart, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      323,115 |  |   |                      317,908 |  |   |                      317,908 |  |   |   |
|                               | DealPath, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,415,432 |  |   |                   1,378,303 |  |   |                   1,378,303 |  |   | 5/1/2021 |
|                               | DemystData Limited |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      329,961 |  |   |                      325,960 |  |   |                      325,960 |  |   | 7/1/2020 |
|                               | DemystData Limited |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      596,110 |  |   |                      569,404 |  |   |                      569,404 |  |   | 5/1/2020 |
|                               | DemystData Limited Subtotal |   |   |   |   |   |   |   |   |   |                      926,071 |  |   |                      895,364 |  |   |                      895,364 |  |   |   |
|                               | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                        99,217 |  |   |                        96,154 |  |   |                        96,154 |  |   | 3/1/2020 |
|                               | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                        99,469 |  |   |                        98,666 |  |   |                        98,666 |  |   | 3/1/2020 |

----

|          |
|----------|
|          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|     | Drift Marketplace, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      132,298 |  |   |                      131,274 |  |   |                      131,274 |  |   | 3/1/2020 |
|     | Drift Marketplace, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      330,984 |  |   |                      326,094 |  |   |                      326,094 |  |   |   |
|     | Due, Inc. |   |   |   | Senior Secured |   | 0% |   |   |   |                   1,350,000 |  |   |                      101,519 |  |   | — |  |   | * |
|     | Estify, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      842,819 |  |   |                      825,560 |  |   |                      825,560 |  |   | 11/1/2020 |
|     | FieldAware US, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   7,429,570 |  |   |                   7,392,583 |  |   |                   7,392,583 |  |   | 8/1/2021 |
|     | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   1,566,288 |  |   |                   1,555,056 |  |   |                   1,555,056 |  |   | 11/1/2020 |
|     | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   2,162,999 |  |   |                   2,044,974 |  |   |                   2,044,974 |  |   | 9/1/2020 |
|     | Gearbox Software, LLC |   |   |   | Senior Secured |   | 11.0% |   |   |   |                   2,257,770 |  |   |                   2,241,559 |  |   |                   2,241,559 |  |   | 3/1/2021 |
|     | Gearbox Software, LLC Subtotal |   |   |   |   |   |   |   |   |   |                   5,987,057 |  |   |                   5,841,589 |  |   |                   5,841,589 |  |   |   |
|     | GoFormz, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      979,727 |  |   |                      944,903 |  |   |                      944,903 |  |   | 11/1/2020 |
|     | HealthPrize Technologies, LLC |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      107,920 |  |   |                      105,559 |  |   |                      105,559 |  |   | 12/1/2019 |
|     | Highfive Technologies, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                   3,956,592 |  |   |                   3,823,051 |  |   |                   3,823,051 |  |   | 10/1/2021 |
|     | IntelinAir, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                        27,659 |  |   |                        26,308 |  |   |                        26,308 |  |   | 6/1/2019 |
|     | IntelinAir, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                        27,660 |  |   |                        27,660 |  |   |                        27,660 |  |   | 6/1/2019 |
|     | IntelinAir, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                        55,319 |  |   |                        53,968 |  |   |                        53,968 |  |   |   |
|     | Interset Software, Inc.** ^ |   |   |   | Senior Secured |   | 9.0% |   | 4.5% |   |                      448,295 |  |   |                      443,235 |  |   |                      443,235 |  |   | 10/1/2019 |
|     | Interset Software, Inc.** ^ |   |   |   | Senior Secured |   | 9.0% |   | 4.5% |   |                      551,146 |  |   |                      538,064 |  |   |                      538,064 |  |   | 10/1/2020 |
|     | Interset Software, Inc.** ^ Subtotal |   |   |   |   |   |   |   |   |   |                      999,441 |  |   |                      981,299 |  |   |                      981,299 |  |   |   |
|     | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                      628,200 |  |   |                      597,161 |  |   |                      597,161 |  |   | 6/1/2020 |
|     | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,289,405 |  |   |                   1,289,405 |  |   |                   1,289,405 |  |   | 4/1/2021 |
|     | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,503,796 |  |   |                   1,459,544 |  |   |                   1,459,544 |  |   | 4/1/2021 |
|     | Invoice2Go, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,504,063 |  |   |                   1,504,063 |  |   |                   1,504,063 |  |   | 4/1/2021 |
|     | Invoice2Go, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   4,925,464 |  |   |                   4,850,173 |  |   |                   4,850,173 |  |   |   |
|     | JethroData, Inc.** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      879,868 |  |   |                      856,877 |  |   |                      410,091 |  |   | * |
|     | Libre Wireless Technologies, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      232,701 |  |   |                      225,633 |  |   |                      225,633 |  |   | 1/23/2019 |
|     | Metarail, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      709,600 |  |   |                      662,513 |  |   |                      662,513 |  |   | 10/1/2021 |
|     | Metric Insights, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      254,237 |  |   |                      251,932 |  |   |                      251,932 |  |   | 7/1/2019 |
|     | Mines.io, Inc.** ^ |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      330,361 |  |   |                      316,502 |  |   |                      316,502 |  |   | 7/1/2020 |
|     | Mintigo, Inc.** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      298,378 |  |   |                      289,605 |  |   |                      289,605 |  |   | 4/1/2020 |
|     | Mintigo, Inc.** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      350,038 |  |   |                      346,830 |  |   |                      346,830 |  |   | 7/1/2020 |
|     | Mintigo, Inc.** ^ |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      435,345 |  |   |                      430,085 |  |   |                      430,085 |  |   | 7/1/2021 |
|     | Mintigo, Inc.** ^ Subtotal |   |   |   |   |   |   |   |   |   |                   1,083,761 |  |   |                   1,066,520 |  |   |                   1,066,520 |  |   |   |
|     | Norse Networks, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                   3,500,000 |  |   |                   3,445,429 |  |   | — |  |   | * |
|     | PowerInbox, Inc.** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      234,838 |  |   |                      230,952 |  |   |                      230,952 |  |   | 6/1/2020 |
|     | Swrve, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,941,569 |  |   |                   1,768,745 |  |   |                   1,768,745 |  |   | 11/1/2020 |

----

|                     |
|---------------------|
|                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry            | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                | The/Studio Technologies, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      469,694 |  |   |                      445,810 |  |   |                      445,810 |  |   | 6/1/2020 |
|                | Truss Technology Corporation |   |   |   | Senior Secured |   | 2.2% |   |   |   |                   2,000,000 |  |   |                      238,275 |  |   | — |  |   | * |
|                | Unmetric, Inc. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                      186,526 |  |   |                      179,841 |  |   |                      179,841 |  |   | 2/1/2020 |
|                | VenueNext, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      891,554 |  |   |                      853,816 |  |   |                      853,816 |  |   | 5/1/2020 |
|                | Viewpost Holdings, LLC. |   |   |   | Senior Secured |   | 11.5% |   |   |   |                 11,000,000 |  |   |                 10,596,459 |  |   |                   3,919,295 |  |   | * |
|                | Vuemix, Inc. |   |   |   | Senior Secured |   | 11.3% |   |   |   |                      195,818 |  |   |                      188,931 |  |   |                      188,931 |  |   | 11/1/2020 |
|                | Workspot, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                        56,659 |  |   |                        56,124 |  |   |                        56,124 |  |   | 2/1/2019 |
|                | Xeeva, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   1,599,279 |  |   |                   1,584,229 |  |   |                   1,584,229 |  |   | 7/1/2020 |
| Software Total      |   |   | 32.0% |   |   |   |   |   |   |   | $ | 57,470,024 |  |   | $ | 53,059,894 |  |   | $ | 40,901,116 |  |   |   |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Technology Services |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   | $ | 410,079 |  |   | $ | 405,975 |  |   | $ | 405,975 |  |   | 7/1/2020 |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      469,819 |  |   |                      464,081 |  |   |                      464,081 |  |   | 10/1/2020 |
|                | AirHelp, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      739,708 |  |   |                      719,727 |  |   |                      719,727 |  |   | 5/1/2020 |
|                | AirHelp, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,619,606 |  |   |                   1,589,783 |  |   |                   1,589,783 |  |   |   |
|                | Akademos, Inc. |   |   |   | Junior Secured |   | 13.5% |   | 1.5% |   |                      704,351 |  |   |                      638,122 |  |   |                      638,122 |  |   | 8/1/2020 |
|                | Blazent, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   2,213,823 |  |   |                   2,053,644 |  |   |                   1,787,994 |  |   | * |
|                | Blue Technologies Limited** ^ |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      674,934 |  |   |                      660,668 |  |   |                      660,668 |  |   | 4/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      991,416 |  |   |                      980,731 |  |   |                      980,731 |  |   | 3/1/2021 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      991,359 |  |   |                      982,309 |  |   |                      982,309 |  |   | 12/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      991,300 |  |   |                      983,910 |  |   |                      983,910 |  |   | 9/1/2020 |
|                | Callisto Media, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                   2,478,096 |  |   |                   2,448,577 |  |   |                   2,448,577 |  |   | 6/1/2020 |
|                | Callisto Media, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   5,452,171 |  |   |                   5,395,527 |  |   |                   5,395,527 |  |   |   |
|                | Dolly, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      659,639 |  |   |                      641,672 |  |   |                      345,572 |  |   | 12/1/2020 |
|                | Fluxx Labs |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,237,737 |  |   |                   1,233,824 |  |   |                   1,233,824 |  |   | 12/1/2019 |
|                | FSA Store, Inc. |   |   |   | Senior Secured |   | 10.0% |   |   |   |                   1,733,072 |  |   |                   1,662,701 |  |   |                   1,662,701 |  |   | 12/1/2020 |
|                | PayJoy, Inc.** |   |   |   | Senior Secured |   | 12.0% |   |   |   |                        37,420 |  |   |                        37,045 |  |   |                        37,045 |  |   | 4/1/2019 |
|                | PayJoy, Inc.** |   |   |   | Senior Secured |   | 12.0% |   |   |   |                        73,378 |  |   |                        73,026 |  |   |                        73,026 |  |   | 8/1/2019 |
|                | PayJoy, Inc.** |   |   |   | Senior Secured |   | 10.0% |   |   |   |                      991,020 |  |   |                      941,035 |  |   |                      941,035 |  |   | 8/1/2021 |
|                | PayJoy, Inc.** Subtotal |   |   |   |   |   |   |   |   |   |                   1,101,818 |  |   |                   1,051,106 |  |   |                   1,051,106 |  |   |   |
|                | Sixup PBC, Inc.** |   |   |   | Senior Secured |   | 12.0% |   |   |   |                      138,941 |  |   |                      137,308 |  |   |                      137,308 |  |   | 6/1/2019 |
|                | TrueFacet, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      207,942 |  |   |                      205,781 |  |   |                      124,495 |  |   | 3/1/2021 |
|                | TrueFacet, Inc. |   |   |   | Senior Secured |   | 11.3% |   |   |   |                      228,041 |  |   |                      225,453 |  |   |                      136,397 |  |   | 6/1/2021 |
|                | TrueFacet, Inc. |   |   |   | Senior Secured |   | 10.5% |   |   |   |                      475,650 |  |   |                      465,480 |  |   |                      281,611 |  |   | 8/1/2020 |
|                | TrueFacet, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                      911,633 |  |   |                      896,714 |  |   |                      542,503 |  |   |   |
|                | Zeel Networks, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      317,776 |  |   |                      314,761 |  |   |                      314,761 |  |   | 8/1/2020 |

----

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Industry                  | Borrower |   | Percent of Net Assets (a) |   | Collateral |   | Interest Rate (b) |   | End of Term Payment (c) |   | Principal |   | Cost |   | Fair Value |   | Maturity Date |
|                      | Zeel Networks, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      317,744 |  |   |                      315,135 |  |   |                      315,135 |  |   | 8/1/2020 |
|                      | Zeel Networks, Inc. |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      635,468 |  |   |                      620,548 |  |   |                      620,548 |  |   | 8/1/2020 |
|                      | Zeel Networks, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   1,270,988 |  |   |                   1,250,444 |  |   |                   1,250,444 |  |   |   |
| Technology Services Total |   |   | 12.8% |   |   |   |   |   |   |   | $ | 17,718,713 |  |   | $ | 17,211,513 |  |   | $ | 16,295,552 |  |   |   |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Wireless                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      | Juvo Mobile, Inc.** |   |   |   | Senior Secured |   | 11.0% |   |   |   | $ | 163,085 |  |   | $ | 159,967 |  |   | $ | 159,967 |  |   | 9/1/2019 |
|                      | Juvo Mobile, Inc.** |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      231,371 |  |   |                      229,785 |  |   |                      229,785 |  |   | 1/1/2020 |
|                      | Juvo Mobile, Inc.** |   |   |   | Senior Secured |   | 11.0% |   |   |   |                      248,067 |  |   |                      246,012 |  |   |                      246,012 |  |   | 2/1/2020 |
|                      | Juvo Mobile, Inc.** Subtotal |   |   |   |   |   |   |   |   |   |                      642,523 |  |   |                      635,764 |  |   |                      635,764 |  |   |   |
|                      | Nextivity, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   1,272,655 |  |   |                   1,272,655 |  |   |                   1,272,655 |  |   | 6/1/2021 |
|                      | Nextivity, Inc. |   |   |   | Senior Secured |   | 12.0% |   |   |   |                   4,664,416 |  |   |                   4,664,024 |  |   |                   4,664,024 |  |   | 6/1/2021 |
|                      | Nextivity, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   5,937,071 |  |   |                   5,936,679 |  |   |                   5,936,679 |  |   |   |
|                      | Parallel Wireless, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,130,176 |  |   |                   1,118,659 |  |   |                   1,118,659 |  |   | 10/1/2020 |
|                      | Parallel Wireless, Inc. |   |   |   | Senior Secured |   | 11.8% |   |   |   |                   1,973,157 |  |   |                   1,937,081 |  |   |                   1,937,081 |  |   | 4/1/2020 |
|                      | Parallel Wireless, Inc. Subtotal |   |   |   |   |   |   |   |   |   |                   3,103,333 |  |   |                   3,055,740 |  |   |                   3,055,740 |  |   |   |
| Wireless Total            |   |   | 7.5% |   |   |   |   |   |   |   | $ | 9,682,927 |  |   | $ | 9,628,183 |  |   | $ | 9,628,183 |  |   |   |
| Grand Total               |   |   | 164.9% |   |   |   |   |   |   |   | $ | 243,779,625 |  |   | $ | 233,935,818 |  |   | $ | 210,722,764 |  |   |   |

----

|                                                                                                 |
|-------------------------------------------------------------------------------------------------|
|                                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                            |   |   |   |   |   | AS OF DECEMBER 31, 2019 |
| Description and terms of payments to be received from another party                             |   | Description and terms of payments to be paid to another party |   | Counterparty |   | Maturity Date (a) |   | Notional Amount |   | Value |   | Upfront payments/receipts |   | Unrealized appreciation/(depreciation)(b) |
| Cancellable Interest Rate Swap Agreement - Floating interest rate greater of USD-LIBOR-BBA |   | Fixed interest rate 1.900%, to be paid monthly |   | MUFG Union Bank, N.A. |   | 12/1/2020 |   | $ | 25,927,448 |  |   | $ | (22,136 | ) |   | $ | — |  |   | $ | (22,136 | ) |
| Total                                                                                           |   |   |   |   |   |   |   | $ | 25,927,448 |  |   | $ | (22,136 | ) |   | $ | — |  |   | $ | (22,136 | ) |

|                                                                                                 |
|-------------------------------------------------------------------------------------------------|
|                                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                            |   |   |   |   |   | AS OF DECEMBER 31, 2018 |
| Description and terms of payments to be received from another party                             |   | Description and terms of payments to be paid to another party |   | Counterparty |   | Maturity Date (a) |   | Notional Amount |   | Value |   | Upfront payments/receipts |   | Unrealized appreciation/(depreciation)(b) |
| Cancellable Interest Rate Swap Agreement - Floating interest rate greater of USD-LIBOR-BBA |   | Fixed interest rate 1.900%, to be paid monthly |   | MUFG Union Bank, N.A. |   | 12/1/2020 |   | $ | 67,172,468 |  |   | $ | 352,121 |  |   | $ | — |  |   | $ | 352,121 |  |
| Total                                                                                           |   |   |   |   |   |   |   | $ | 67,172,468 |  |   | $ | 352,121 |  |   | $ | — |  |   | $ | 352,121 |  |

----

----

----

----

----

|         |
|---------|
|         |  |
| Level 1 | Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date. |
| Level 2 | Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities. |
| Level 3 | Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. |

----

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |
| Investment Type - Level 3    |   |   |   |   |   |   |   |   |
| Debt Investments             |   | Fair Values at December 31, 2019 |   | Valuation Techniques / Methodologies |   | Unobservable Inputs |   | Weighted-Averages (a) Amounts and Ranges |
|                         |   |   |   |   |   |   |   |   |
| Computers and Storage        |   | $ | 703,241 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 31% (14%-38%) |
|                         |   |   |   |   |   |   |   |   |
| Internet                     |   | 5,317,131 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (13%-17%) |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,570,447              ($0 - $2,124,565) 1% (0% - 3%) |
|                         |   |   |   |   |   |   |   |   |
| Medical Devices              |   | 610,110 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 13% |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $00% |
|                         |   |   |   |   |   |   |   |   |
| Other Healthcare             |   | 25,125,017 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (12%-16%) |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,130,989 ($0 - $1,130,989)3% (0% - 3%) |
|                         |   |   |   |   |   |   |   |   |
| Other Technology             |   | 21,728,645 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (12%-19%) |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,746,842            ($0 - $2,787,929) 3% (0% - 3%) |
|                         |   |   |   |   |   |   |   |   |
| Security                     |   | 262,884 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 24%* |
|                         |   |   |   |   |   |   |   |   |
| Semiconductors and Equipment |   | 72,179 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 12%* |
|                         |   |   |   |   |   |   |   |   |
| Software                     |   | 20,827,566 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 15% (13%-23%) |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $5,224,576             ($0 - $7,616,116)3% (0% - 3%) |
|                         |   |   |   |   |   |   |   |   |
| Technology Services          |   | 6,427,721 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 13% (11%-26%) |
|                         |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,667,641                ($100,000 - $1,682,635)2% (2% - 2%) |
|                         |   |   |   |   |   |   |   |   |
| Wireless                     |   | 4,890,496 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 12% (12% - 14%) |
|                         |   |   |   |   |   |   |   |   |
| Total Debt Investments       |   | $ | 85,964,990 |  |   |   |   |   |   |   |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |
| Investment Type - Level 3 (b) |   |   |   |   |   |   |   |   |
| Debt Investments              |   | Fair Values at December 31, 2018 |   | Valuation Techniques / Methodologies |   | Unobservable Inputs |   | Weighted-Averages (a) Amounts and Ranges |
|                          |   |   |   |   |   |   |   |   |
| Biotechnology                 |   | $ | 179,524 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 15%* |
|                          |   |   |   |   |   |   |   |   |
| Computers and Storage         |   | 2,848,813 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 21% (14% - 38%) |
|                          |   |   |   |   |   |   |   |   |
| Internet                      |   | 19,396,858 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (13% - 20%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $6,958,846             ($0 - $9,329,138)3% (0% - 4%) |
|                          |   |   |   |   |   |   |   |   |
| Medical Devices               |   | 1,548,521 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (14% - 21%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $00% |
|                          |   |   |   |   |   |   |   |   |
| Other Healthcare              |   | 31,413,984 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (12% - 28%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $916,812                           ($0 - $916,812)4% (0% - 4%) |
|                          |   |   |   |   |   |   |   |   |
| Other Technology              |   | 87,293,658 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 14% (12% - 24%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,519,598                        ($0 - $2,787,929)3% (0% - 4%) |
|                          |   |   |   |   |   |   |   |   |
| Security                      |   | 957,742 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 21% (19% - 24%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $00% |
|                          |   |   |   |   |   |   |   |   |
| Semiconductors and Equipment  |   | 258,813 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 12% |
|                          |   |   |   |   |   |   |   |   |
| Software                      |   | 40,901,116 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 15% (12% - 23%) |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $8,291,313                       ($0 - $8,994,902)3% (0% - 4%) |
|                          |   |   |   |   |   |   |   |   |
| Technology Services           |   | 16,295,552 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 13% (11% - 26%) |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |
| Investment Type - Level 3 (b) |   |   |   |   |   |   |   |   |
| Debt Investments              |   | Fair Values at December 31, 2018 |   | Valuation Techniques / Methodologies |   | Unobservable Inputs |   | Weighted-Averages (a) Amounts and Ranges |
|                          |   |   |   | Income approach |   | Expected amount and timing of cash flow paymentsDiscount rate |   | $1,964,123      ($751,771 - $2,459,113)4% |
|                          |   |   |   |   |   |   |   |   |
| Wireless                      |   | 9,628,183 |  |   | Hypothetical market analysis |   | Hypothetical market coupon rate |   | 13% (12% - 16%) |
|                          |   |   |   |   |   |   |   |   |
| Total Debt Investments        |   | $ | 210,722,764 |  |   |   |   |   |   |   |

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| As of December 31, 2019                                                             |   |   |   |   |   |   |   |
| ASSETS:                                                                             | Level 1 |   | Level 2 |   | Level 3 |   | Total |
| Loans†                                                                        | $ | — |  |   | $ | — |  |   | $ | 85,964,990 |  |   | $ | 85,964,990 |  |
| Derivative asset - interest rate swap                                               | — |  |   | — |  |   | — |  |   | — |  |
| Cash equivalents                                                                    | 354,105 |  |   | — |  |   | — |  |   | 354,105 |  |
| Total assets                                                                        | $ | 354,105 |  |   | $ | — |  |   | $ | 85,964,990 |  |   | $ | 86,319,095 |  |
|                                                                                |   |   |   |   |   |   |   |
| LIABILITIES:                                                                        | Level 1 |   | Level 2 |   | Level 3 |   | Total |
| Borrowings under debt facility                                                      | $ | — |  |   | $ | 15,400,000 |  |   | $ | — |  |   | $ | 15,400,000 |  |
| Derivative liability - interest rate swap                                           | — |  |   | 22,136 |  |   | — |  |   | $ | 22,136 |  |
|            Total liabilities | $ | — |  |   | $ | 15,422,136 |  |   | $ | — |  |   | $ | 15,422,136 |  |

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| As of December 31, 2018                                                             |   |   |   |   |   |   |   |
| ASSETS:                                                                             | Level 1 |   | Level 2 |   | Level 3 |   | Total |
| Loans†                                                                        | $ | — |  |   | $ | — |  |   | $ | 210,722,764 |  |   | $ | 210,722,764 |  |
| Derivative asset - interest rate swap                                               | — |  |   | 352,121 |  |   | — |  |   | 352,121 |  |
| Cash equivalents                                                                    | 2,839,766 |  |   | — |  |   | — |  |   | 2,839,766 |  |
| Total assets                                                                        | $ | 2,839,766 |  |   | $ | 352,121 |  |   | $ | 210,722,764 |  |   | $ | 213,914,651 |  |
|                                                                                |   |   |   |   |   |   |   |
| LIABILITIES:                                                                        | Level 1 |   | Level 2 |   | Level 3 |   | Total |
| Borrowings under debt facility                                                      | $ | — |  |   | $ | 87,500,000 |  |   | $ | — |  |   | $ | 87,500,000 |  |
| Derivative liability - interest rate swap                                           | — |  |   | — |  |   | — |  |   | $ | — |  |
|            Total liabilities | $ | — |  |   | $ | 87,500,000 |  |   | $ | — |  |   | $ | 87,500,000 |  |

----

|                                                                                            |
|--------------------------------------------------------------------------------------------|
|                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                       | For the Year Ended December 31, 2019 |
|                                                                                       | Loans |   | Warrants |   | Stock |   | Convertible Note |
| Beginning balance                                                                          | $ | 210,722,764 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Acquisitions and originations                                                              | — |  |   | 215,989 |  |   | 455,286 |  |   | 4,310,753 |  |
| Principal reductions and amortization of discounts                                         | (116,147,548 | ) |   | — |  |   | — |  |   | — |  |
| Distributions to shareholder                                                               | — |  |   | (215,989 | ) |   | (455,286 | ) |   | (4,310,753 | ) |
| Net change in unrealized gain (loss) from loans                                            | 4,579,337 |  |   | — |  |   | — |  |   | — |  |
| Net realized loss from loans                                                               | (13,189,563 | ) |   | — |  |   | — |  |   | — |  |
| Ending balance                                                                             | $ | 85,964,990 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Net change in unrealized loss from loans relating to loans still held at December 31, 2019 | $ | (2,077,084 | ) |   |   |   |   |   |   |

|                                                                                            |
|--------------------------------------------------------------------------------------------|
|                                                                                            |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                       | For the Year Ended December 31, 2018 |
|                                                                                       | Loans |   | Warrants |   | Stock |
| Beginning balance                                                                          | $ | 325,189,783 |  |   | $ | — |  |   | $ | — |  |
| Acquisitions and originations                                                              | 51,000,000 |  |   | 2,351,774 |  |   | 1,073,536 |  |
| Principal reductions and amortization of discounts                                         | (159,180,773 | ) |   | — |  |   | — |  |
| Distributions to shareholder                                                               | — |  |   | (2,351,774 | ) |   | (1,073,536 | ) |
| Net change in unrealized gain (loss) from loans                                            | 1,953,368 |  |   | — |  |   | — |  |
| Net realized loss from loans                                                               | (8,239,614 | ) |   | — |  |   | — |  |
| Ending balance                                                                             | $ | 210,722,764 |  |   | $ | — |  |   | $ | — |  |
| Net change in unrealized loss from loans relating to loans still held at December 31, 2018 | $ | (4,049,435 | ) |   |   |   |   |

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | For the Year Ended |   | For the Year Ended |   | For the Year Ended |
|                                                     | December 31, 2019 |   | December 31, 2018 |   | December 31, 2017 |
| Cash distributions                                       | $ | 59,250,000 |  |   | $ | 112,100,000 |  |   | $ | 18,000,000 |  |
| Distributions of equity securities and convertible notes | 4,982,028 |  |   | 3,425,310 |  |   | 13,365,899 |  |
| Total distributions to shareholder                       | $ | 64,232,028 |  |   | $ | 115,525,310 |  |   | $ | 31,365,899 |  |

----

|               |
|---------------|
|               |  |
| 1-Month LIBOR | 1.7625% |
| 3-Month LIBOR | 1.9084% |

|                              |
|------------------------------|
|                              |  |  |  |  |  |
|                         | Amount | Maturity Date | All-In Interest Rate** |
| LIBOR Market Index Rate Loan | $ | 15,400,000 |  | October 30, 2020 | Variable based on 1-Month LIBOR rate |
| Total Outstanding            | $ | 15,400,000 |  |   |   |

|                              |
|------------------------------|
|                              |  |  |  |  |  |
|                         | Amount | Maturity Date | All-In Interest Rate†† |
| LIBOR Loan                   | $ | 66,000,000 |  | January 10, 2019 | 5.14% |
| LIBOR Market Index Rate Loan | 21,500,000 |  | October 30, 2020 | Variable based on 1-Month LIBOR rate |
| Total Outstanding            | $ | 87,500,000 |  |   |   |

----

----

|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative                  |   | Location on Statements of Operations |   | For the Year Ended December 31, 2019 |   | For the Year Ended December 31, 2018 |   | For the Year Ended December 31, 2017 |
| Interest rate cap agreement |   | Net realized gain (loss) from derivative instruments |   | $ | — |  |   | $ | — |  |   | $ | 683,483 |  |
|                        | Net change in unrealized gain (loss) from derivative instruments |   | $ | — |  |   | $ | — |  |   | $ | 219,666 |  |

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |  |  |
|                         |   |   |
|                         |   | December 31, 2019 |   | December 31, 2018 |
| Derivative                   |   | Location on Statements of Assets and Liabilities |   | Fair Value |   | Location on Statements of Assets and Liabilities |   | Fair Value |
| Interest rate swap agreement |   | Derivative liability - interest rate swap |   | $ | 22,136 |  |   | Derivative asset - interest rate swap |   | $ | 352,121 |  |

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Derivative                   |   | Location on Statements of Operations |   | For the Year Ended December 31, 2019 |   | For the Year Ended December 31, 2018 |   | For the Year Ended December 31, 2017 |
| Interest rate swap agreement |   | Net realized gain (loss) from derivative instruments |   | $ | 185,027 |  |   | $ | (30,158 | ) |   | $ | (17,457 | ) |
|                         | Net change in unrealized gain (loss) from derivative instruments |   | $ | (374,257 | ) |   | $ | 352,720 |  |   | $ | (599 | ) |

----

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset                                     | Cost | Unrealized Appreciation | Unrealized Depreciation | Net Appreciation (Depreciation) |
| Loans                                     | $ | 104,598,706 |  | $ | — |  | $ | (18,633,716 | ) | $ | (18,633,716 | ) |
| Total                                     | $ | 104,598,706 |  | $ | — |  | $ | (18,633,716 | ) | $ | (18,633,716 | ) |
|                                      |   |   |   |   |
| Derivative, liabilities                   | Cost | Unrealized Appreciation | Unrealized Depreciation | Net Appreciation (Depreciation) |
| Derivative liability - interest rate swap | $ | — |  | $ | — |  | $ | (22,136 | ) | $ | (22,136 | ) |
| Total                                     | $ | — |  | $ | — |  | $ | (22,136 | ) | $ | (22,136 | ) |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |
| Asset                                 | Cost | Unrealized Appreciation | Unrealized Depreciation | Net Appreciation (Depreciation) |
| Loans                                 | $ | 233,935,818 |  | $ | — |  | $ | (23,213,054 | ) | $ | (23,213,054 | ) |
| Total                                 | $ | 233,935,818 |  | $ | — |  | $ | (23,213,054 | ) | $ | (23,213,054 | ) |
|                                  |   |   |   |   |
| Derivative, asset                     | Cost | Unrealized Appreciation | Unrealized Depreciation | Net Appreciation (Depreciation) |
| Derivative asset - interest rate swap | $ | — |  | $ | 352,121 |  | $ | — |  | $ | 352,121 |  |
| Total                                 | $ | — |  | $ | 352,121 |  | $ | — |  | $ | 352,121 |  |

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |
|                                             | December 31, 2019 |  | December 31, 2018 |  |
| Accumulated capital gains (losses)               | $ | (52,596,165 | ) | $ | (39,591,629 | ) |
| Other temporary differences                      | (489,266 | ) | (503,833 | ) |
| Distributions in excess of net investment income | $ | (180,235,695 | ) | $ | (131,890,183 | ) |
| Net unrealized depreciation                      | (18,655,854 | ) | (22,860,932 | ) |
| Components of distributable losses               | $ | (251,976,980 | ) | $ | (194,846,577 | ) |

----

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             | For the Year Ended December 31, 2019 |   | For the Year Ended December 31, 2018 |   | For the Year Ended December 31, 2017 |   | For the Year Ended December 31, 2016 |   | For the Year Ended December 31, 2015 |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Total return                                                                     | 6.07 | % |   | 18.46 | % |   | 8.37 | % |   | 12.50 | % |   | 16.75 | % |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Per share amounts:                                                               |   |   |   |   |   |   |   |   |   |
| Net asset value, beginning of year                                               | $ | 1,277.98 |  |   | $ | 2,126.56 |  |   | $ | 1,835.22 |  |   | $ | 2,104.91 |  |   | $ | 1,634.96 |  |
| Net investment income                                                            | 159.01 |  |   | 350.10 |  |   | 343.80 |  |   | 431.36 |  |   | 435.10 |  |
| Net realized and change in unrealized loss from loans and derivative instruments | (87.99 | ) |   | (59.62 | ) |   | (183.80 | ) |   | (211.91 | ) |   | (118.21 | ) |
| Net increase in net assets resulting from operations                             | 71.02 |  |   | 290.48 |  |   | 160.00 |  |   | 219.45 |  |   | 316.89 |  |
| Distributions to shareholder                                                     | (642.32 | ) |   | (1,155.26 | ) |   | (313.66 | ) |   | (745.14 | ) |   | (481.94 | ) |
| Contributions from shareholder                                                   | 6.00 |  |   | 16.20 |  |   | 445.00 |  |   | 256.00 |  |   | 635.00 |  |
| Net asset value, end of year                                                     | $ | 712.68 |  |   | $ | 1,277.98 |  |   | $ | 2,126.56 |  |   | $ | 1,835.22 |  |   | $ | 2,104.91 |  |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Net assets, end of year                                                          | $ | 71,268,020 |  |   | $ | 127,798,423 |  |   | $ | 212,657,017 |  |   | $ | 183,522,710 |  |   | $ | 210,491,312 |  |
|                                                                             |   |   |   |   |   |   |   |   |   |
| Ratios to average net assets:                                                    |   |   |   |   |   |   |   |   |   |
| Expenses                                                                         | 6.90 | % |   | 7.95 | % |   | 8.80 | % |   | 9.05 | % |   | 8.42 | % |
| Net investment income                                                            | 16.61 | % |   | 19.88 | % |   | 17.07 | % |   | 22.80 | % |   | 21.17 | % |
| Portfolio turn-over rate                                                         | 1.21 | % |   | 0.06 | % |   | — | % |   | 0.11 | % |   | 0.08 | % |
| Average debt outstanding                                                         | $ | 47,526,154 |  |   | $ | 117,384,615 |  |   | $ | 146,307,692 |  |   | $ | 160,923,077 |  |   | $ | 160,615,385 |  |