PHOENIX, July 15,
2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ:
TRIN) ("Trinity"), a leading provider of diversified financial
solutions to growth-oriented companies, today announced the
commitment of $15 million in growth
capital to Velentium, a professional engineering firm that
specializes in the design and manufacture of innovative medical
devices.
Based in Houston, Velentium
designs, develops, manufactures, and provides post-market support
for medical devices, particularly active implantable and wearable
devices. With expertise in systems engineering, software,
cybersecurity, mobile/cloud solutions, and automated test systems,
Velentium collaborates with clients worldwide to create medical
solutions that improve lives.
"Velentium brings unique capabilities to their medical device
customers and is a trusted partner to help drive new product
innovation," said Ryan Kaeding,
Managing Director, Life Sciences at Trinity. "We believe in their
team and are excited to help accelerate their growth as a one-stop
shop for end-to-end medical device design, development, and
contract manufacturing."
Velentium recently moved into their new corporate headquarters
in Houston, which is over 50,000
square feet, has class 7 cleanrooms and provides a significant
improvement in their manufacturing capacity to support their
growing contract manufacturing business. The new debt facility from
Trinity will facilitate Velentium's continued growth.
"We are thrilled to partner with Trinity as we continue to scale
our business and make medical devices safer, more secure, and more
user-friendly continuing our mission to Change Lives for a Better
World through our customer partnerships." said Dan Purvis, CEO of Velentium.
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed
business development company, is a leading provider of diversified
financial solutions to growth-stage companies with institutional
equity investors. Trinity Capital's investment objective
is to generate current income and, to a lesser extent, capital
appreciation through investments, including term loans and
equipment financings and equity-related investments. Trinity
Capital believes it is one of only a select group of specialty
lenders that has the depth of knowledge, experience and track
record in lending to growth stage companies. For more information,
please visit the Company's website at www.trinitycap.com.
About Velentium
Velentium is a Houston-based
professional engineering firm specializing in the end-to-end
design, development, manufacturing and post-market support of
medical devices. The company's core competencies include active
implantable medical devices, systems engineering, firmware &
software, cybersecurity, mobile & cloud, electrical &
mechanical engineering, human factors & usability, automated
test systems, and CGMP manufacturing. With customers all over the
world, Velentium has experience working with all sizes of clients,
ranging from startups seeking seed funding to established Fortune
500 companies.
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SOURCE Trinity Capital Inc.