PHOENIX, Aug. 15, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $20 million in growth capital to MacroFab, the comprehensive manufacturing platform for building electronics from prototype to high-scale production.
MacroFab oversees an impressive network of more than 100 factories throughout North America. This infusion of capital follows their recent equity raise earlier this year of $42 million, led by Foundry and joined by BMW i Ventures, Edison Partners and ATX Venture Partners, bringing the total capital raised by the company to $102 million.
"We recognize the immense potential of MacroFab's innovative platform to completely transform the electronics manufacturing landscape," said Ryan Thompson, Managing Director, Tech Lending at Trinity. "We look forward to partnering with their industry-leading team to drive this next generation of technology forward."
The company's technology platform advances electronics manufacturing by streamlining operations, improving efficiency and offering unparalleled visibility into production. This investment will enable the company to further advance its platform, expand operations and accelerate revenue growth.
"This new financial partnership with Trinity signifies a bright and promising future for MacroFab," said Phil Patman, Jr., Chief Financial Officer of MacroFab. "With support from Trinity Capital, we will continue to strengthen our position in the market and enhance our capacity to deliver cutting-edge solutions to electronics manufacturers of all sizes. Together, we are well-equipped to drive transformative change within the electronics manufacturing industry."
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 MacroFab
MacroFab operates the largest technology platform for electronics manufacturing, offering prototypes, high-volume production, and extended services through a network of over 100 factories across North America. Serving as a trailblazer in EMS manufacturing and digital supply chain solutions, MacroFab's robust platform and marketplace foster efficient and expedient electronics production, bringing manufacturing closer to the end user. By leveraging AI-enabled sourcing opportunities, expert internal teams, and a user-friendly platform, MacroFab delivers unmatched efficiency and accessibility to the hardware tech community.
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SOURCE Trinity Capital Inc.