Private Credit Portfolio Analysis | Venture Lending & Leasing IX Reports Q1 2025 Results
- Editor
- May 14
- 2 min read
Whats New:
Venture Lending & Leasing IX, Inc. reported its Q1 2025 financial results, showing a decrease in total assets and stockholders' equity compared to the previous quarter. The fund's total assets decreased to $138.95 million as of March 31, 2025, down from $159.97 million at the end of 2024. The fund also reduced its line of credit significantly, from $39.5 million to $21.5 million.
Portfolio Dynamics:
Total assets decreased to $138.95 million as of March 31, 2025, compared to $159.97 million at the end of 2024.
Investments owned at fair value decreased to $129.81 million, down from $151.06 million at the end of 2024.
Cash and cash equivalents increased to $7.31 million from $5.08 million at the end of 2024.
Investment Activity:
The fund reported proceeds from disposition of investments of $16.90 million during Q1 2025.
No new investments were made during the quarter, compared to $496,047 in the same quarter last year.
Realized loss on investments was $734,522 for Q1 2025.
Capital Structure:
Line of credit decreased significantly to $21.5 million from $39.5 million at the end of 2024.
Stockholders' equity decreased to $116.37 million from $119.35 million at the end of 2024.
The fund maintained its additional paid-in capital at $407.13 million.
Performance Profile:
Net asset value per share decreased to $1,163.74 as of March 31, 2025, compared to $1,193.46 at the end of 2024.
The fund reported a net loss of $1.89 million for Q1 2025, compared to a net income of $2.06 million in Q1 2024.
Unrealized loss on investments was $2.53 million for Q1 2025, compared to $5.33 million in Q1 2024.
Risk & Quality:
The fund's total liabilities decreased to $22.58 million from $40.62 million at the end of 2024.
Management fee payable remained constant at $690,000.
Other liabilities, including accounts payable and accrued liabilities, decreased slightly to $389,848 from $430,267 at the end of 2024.
The Wrap:
Venture Lending & Leasing IX, Inc. experienced a contraction in its portfolio during Q1 2025, with decreases in total assets, investments at fair value, and stockholders' equity. The fund significantly reduced its line of credit, potentially indicating a more conservative approach or reduced investment opportunities. While cash positions improved, the fund reported a net loss for the quarter, contrasting with a profit in the same period last year. The decrease in NAV per share and increased realized losses on investments suggest challenges in the current market environment for venture lending.
Comments