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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Unfunded Contractual Commitments and Unencumbered Unfunded Commitments | As of December 31, 2023 and December 31, 2022, the Company’s unfunded contractual commitments available at the request of the portfolio company, including undrawn revolving facilities, and unencumbered by milestones were as follows:
(in thousands) |  | Unfunded Commitments (1) as of
Portfolio Company |  | December 31, 2023 |  | December 31, 2022
Debt Investments: |  |  |  |
Thumbtack, Inc. |  | $ | 40,000 |  |  | $ | 40,000 |
Automation Anywhere, Inc. |  | 29,400 |  |  | 29,400 |
Checkr Group, Inc. |  | 23,625 |  |  | — |
Skydio, Inc. |  | 22,500 |  |  | 22,500 |
Tarsus Pharmaceuticals, Inc. |  | 20,625 |  |  | 10,313 |
Kura Oncology, Inc. |  | 19,250 |  |  | 8,250 |
Akero Therapeutics, Inc. |  | 15,000 |  |  | 5,000 |
Dragos |  | 13,000 |  |  | — |
Suzy, Inc. |  | 12,000 |  |  | — |
Tipalti Solutions Ltd. |  | 10,500 |  |  | — |
Main Street Rural, Inc. |  | 10,500 |  |  | — |
Next Insurance, Inc. |  | 10,000 |  |  | — |
Senseonics Holdings, Inc. |  | 8,750 |  |  | — |
Elation Health, Inc. |  | 7,500 |  |  | 7,500 |
Modern Life, Inc. |  | 6,500 |  |  | — |
Dronedeploy, Inc. |  | 6,250 |  |  | 12,500 |
Phathom Pharmaceuticals, Inc. |  | 6,120 |  |  | 66,500 |
Brain Corporation |  | 5,000 |  |  | 20,700 |
Heron Therapeutics, Inc. |  | 4,000 |  |  | — |
Leapwork ApS |  | 3,900 |  |  | — |
Saama Technologies, LLC |  | 3,875 |  |  | — |
Zimperium, Inc. |  | 3,727 |  |  | 1,088 |
Allvue Systems, LLC |  | 3,590 |  |  | — |
Babel Street |  | 3,375 |  |  | 3,375 |
Riviera Partners LLC |  | 3,000 |  |  | 3,500 |
Cutover, Inc. |  | 2,650 |  |  | 1,000 |
Plentific Ltd |  | 2,625 |  |  | — |
Zappi, Inc. |  | 2,571 |  |  | 2,571 |
Altumint, Inc. |  | 2,500 |  |  | — |
Loftware, Inc. |  | 2,277 |  |  | — |
Yipit, LLC |  | 2,250 |  |  | 2,250 |
Streamline Healthcare Solutions |  | 2,200 |  |  | — |
New Relic, Inc. |  | 2,176 |  |  | — |
Dashlane, Inc. |  | 2,137 |  |  | 10,000 |
Sumo Logic, Inc. |  | 2,000 |  |  | — |
(in thousands) |  | Unfunded Commitments (1) as of
Portfolio Company |  | December 31, 2023 |  | December 31, 2022
Annex Cloud |  | $ | 1,750 |  |  | $ | 386 |
Ceros, Inc. |  | 1,707 |  |  | 1,707 |
ThreatConnect, Inc. |  | 1,600 |  |  | 1,600 |
LogicSource |  | 1,209 |  |  | 1,209 |
3GTMS, LLC |  | 1,182 |  |  | — |
Ikon Science Limited |  | 1,050 |  |  | 1,050 |
LinenMaster, LLC |  | 1,000 |  |  | — |
Fortified Health Security |  | 840 |  |  | 840 |
Agilence, Inc. |  | 800 |  |  | 800 |
Omeda Holdings, LLC |  | 731 |  |  | 938 |
Flight Schedule Pro, LLC |  | 639 |  |  | 639 |
Dispatch Technologies, Inc. |  | 625 |  |  | 1,250 |
Constructor.io Corporation |  | 625 |  |  | 625 |
Enmark Systems, Inc. |  | 457 |  |  | 457 |
Alchemer LLC |  | 445 |  |  | 890 |
Cybermaxx Intermediate Holdings, Inc. |  | 390 |  |  | 390 |
ShadowDragon, LLC |  | 333 |  |  | 333 |
Cytracom Holdings LLC |  | 72 |  |  | 225 |
Provention Bio, Inc. |  | — |  |  | 40,000 |
Vida Health, Inc. |  | — |  |  | 40,000 |
Madrigal Pharmaceutical, Inc. |  | — |  |  | 34,000 |
Oak Street Health, Inc. |  | — |  |  | 33,750 |
HilleVax, Inc. |  | — |  |  | 28,000 |
Axsome Therapeutics, Inc. |  | — |  |  | 21,000 |
Replimune Group, Inc. |  | — |  |  | 20,700 |
Aryaka Networks, Inc. |  | — |  |  | 20,000 |
G1 Therapeutics, Inc. |  | — |  |  | 19,375 |
AppDirect, Inc. |  | — |  |  | 15,000 |
Alladapt Immunotherapeutics Inc. |  | — |  |  | 15,000 |
PathAI, Inc. |  | — |  |  | 12,000 |
Viridian Therapeutics, Inc. |  | — |  |  | 12,000 |
Alamar Biosciences, Inc. |  | — |  |  | 10,000 |
Fever Labs, Inc. |  | — |  |  | 8,333 |
Gritstone Bio, Inc. |  | — |  |  | 7,500 |
Nuvolo Technologies Corporation |  | — |  |  | 5,970 |
Signal Media Limited |  | — |  |  | 5,250 |
Fulfil Solutions, Inc. |  | — |  |  | 5,000 |
Demandbase, Inc. |  | — |  |  | 3,750 |
MacroFab, Inc. |  | — |  |  | 3,000 |
Khoros (p.k.a Lithium Technologies) |  | — |  |  | 1,812 |
RVShare, LLC |  | — |  |  | 1,500 |
Mobile Solutions Services |  | — |  |  | 495 |
Total Unfunded Debt Commitments: |  | 330,828 |  |  | 623,221 |
Investment Funds & Vehicles:(2) |  |  |  |
Forbion Growth Opportunities Fund II C.V. |  | 2,748 |  |  | 2,811 |
Forbion Growth Opportunities Fund I C.V. |  | 1,757 |  |  | 2,842 |
Total Unfunded Commitments in Investment Funds & Vehicles: |  | 4,505 |  |  | 5,653 |
Total Unfunded Commitments |  | $ | 335,333 |  |  | $ | 628,874 |
(1)For debt investments, amounts represent unfunded commitments, including undrawn revolving facilities, which are available at the request of the portfolio company. Amount excludes unfunded commitments which are unavailable due to the borrower having not met certain milestones. These amounts also exclude $127.7 million and $173.5 million of unfunded commitments as of December 31, 2023, and December 31, 2022, respectively, to portfolio companies related to loans assigned to or directly committed by the Adviser Funds as described in "Note -13 Related Party Transactions". (2)For investment funds and vehicles, the amount represents uncalled capital commitments in private equity funds. The following table provides additional information on the Company’s unencumbered unfunded commitments regarding milestones, expirations and type:
(in thousands) | December 31, 2023 |  | December 31, 2022
Unfunded Debt Commitments: |  |  |
Expiring during: |  |  |
2023 | $ | — |  |  | $ | 461,296 |
2024 | 291,896 |  |  | 134,856 |
2025 | 3,004 |  |  | 720 |
2026 | 7,537 |  |  | 9,038 |
2027 | 14,078 |  |  | 15,171 |
2028 | 6,547 |  |  | 2,140 |
2029 | 3,590 |  |  | — |
2030 | 4,176 |  |  | — |
Total Unfunded Debt Commitments | 330,828 |  |  | 623,221 |
Unfunded Commitments in Investment Funds & Vehicles: |  |  |
Expiring during: |  |  |
2030 | 1,757 |  |  | 2,842 |
2032 | 2,748 |  |  | 2,811 |
Total Unfunded Commitments in Investment Funds & Vehicles | 4,505 |  |  | 5,653 |
Total Unfunded Commitments | $ | 335,333 |  |  | $ | 628,874 |
Schedule of Contractual Obligations | The following tables provide the Company’s contractual obligations as of December 31, 2023 and December 31, 2022:
As of December 31, 2023: |  | Payments due by period (in thousands)
Contractual Obligations (1) |  | Total |  | Less than 1 year |  | 1 - 3 years |  | 3 - 5 years |  | After 5 years
Debt (2)(3) |  | $ | 1,570,000 |  |  | $ | 105,000 |  |  | $ | 689,000 |  |  | $ | 411,000 |  |  | $ | 365,000 |
Lease and License Obligations (4) |  | 26,741 |  |  | 2,539 |  |  | 6,629 |  |  | 6,248 |  |  | 11,325 |
Total |  | $ | 1,596,741 |  |  | $ | 107,539 |  |  | $ | 695,629 |  |  | $ | 417,248 |  |  | $ | 376,325 |
As of December 31, 2022: |  | Payments due by period (in thousands)
Contractual Obligations (1) |  | Total |  | Less than 1 year |  | 1 - 3 years |  | 3 - 5 years |  | After 5 years
Debt (5)(3) |  | $ | 1,594,000 |  |  | $ | — |  |  | $ | 382,000 |  |  | $ | 847,000 |  |  | $ | 365,000 |
Lease and License Obligations (4) |  | 8,641 |  |  | 2,723 |  |  | 2,259 |  |  | 2,452 |  |  | 1,207 |
Total |  | $ | 1,602,641 |  |  | $ | 2,723 |  |  | $ | 384,259 |  |  | $ | 849,452 |  |  | $ | 366,207 |
(1)Excludes commitments to extend credit to the Company’s portfolio companies and uncalled capital commitments in investment funds. (2)Includes $175.0 million in principal outstanding under the SBA Debentures, $105.0 million of the July 2024 Notes, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $150.0 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes, and $350.0 million of the January 2027 Notes as of December 31, 2023. There was also $94.0 million outstanding under the SMBC Facility and $61.0 million outstanding under the MUFG Bank Facility as of December 31, 2023. (3)Amounts represent future principal repayments and not the carrying value of each liability. See “Note 5 – Debt”. (4)Facility leases and licenses including short-term leases. (5)Includes $175.0 million in principal outstanding under the SBA Debentures, $105.0 million of the July 2024 Notes, $50.0 million of the February 2025 Notes, $70.0 million of the June 2025 Notes, $50.0 million of the June 2025 3-Year Notes, $50.0 million of the March 2026 A Notes, $50.0 million of the March 2026 B Notes, $150.0 million of the 2031 Asset-Backed Notes, $40.0 million of the 2033 Notes, $325.0 million of the September 2026 Notes and $350.0 million of the January 2027 Notes as of December 31, 2022. There was also $72.0 million outstanding under the SMBC Facility and $107.0 million outstanding under the MUFG Bank Facility as of December 31, 2022.
Summary of Information Related to Measurement of Operating Lease Liabilities and Supplemental Cash Flow Information Related to Operating Leases | The following table sets forth information related to the measurement of the Company’s operating lease liabilities and supplemental cash flow information related to operating leases as of December 31, 2023 and 2022:
(in thousands) | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Total operating lease cost | $ | 2,382 |  |  | $ | 2,928 |
Cash paid for amounts included in the measurement of lease liabilities | $ | 2,499 |  |  | $ | 3,064 |
| As of December 31, 2023 |  | As of December 31, 2022
Weighted-average remaining lease term (in years) | 8.68 |  | 5.48
Weighted-average discount rate | 6.79 | % |  | 5.37 | %
Schedule of Future Minimum Lease Payments under Operating Leases and Reconciliation to Operating Lease Liability | The following table shows future minimum lease payments under the Company’s operating leases and a reconciliation to the operating lease liability as of December 31, 2023:
(in thousands) | As of December 31, 2023
2024 | $ | 1,894 |
2025 | 3,267 |
2026 | 3,362 |
Thereafter | 17,573 |
Total lease payments | 26,096 |
Less: imputed interest & other items | (20,901) |
Total operating lease liability | $ | 5,195 |

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