Externally managed, non-diversified, perpetual-life BDC seeking current income and attractive risk-adjusted returns with limited correlation to public markets. It lends mainly first lien senior secured, floating-rate loans to U.S. lower middle market companies ($3M-$35M EBITDA) and ARR loans to software and tech-enabled companies, targeted at roughly 40%-60% each. At 6/30/2026: $217.1M fair value, 39 companies, 93.7% senior secured, 100% floating debt, no non-accruals; NAV $105.4M.