0001493152-23-027374 | 10-Q | XBRL Viewer

$ 143,865,093

$ 214,632,504

12,514,714

22,780,064

(752,629)

(1,874,470)

^[1]

Net change in unrealized appreciation/(depreciation) included in earnings

(9,615,023)

90,586

2,719,694

(83,021,195)

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022

148,731,849

143,865,093

(8,226,992)

(70,818,192)

Common Stock [Member] | Fair Value, Inputs, Level 3 [Member]

^[2]

(8,742,396)

Impairment Effects on Earnings Per Share [Line Items]

18,692,931

42,860,156

10,008,075

(252,629)

(874,470)

^[1]

3,751,518

Net change in unrealized appreciation/(depreciation) included in earnings

1,330,000

160,965

11,275,958

(16,535,469)

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022

44,805,853

18,692,931

11,275,958

(7,023,165)

Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member]

^[2]

(6,918,251)

Impairment Effects on Earnings Per Share [Line Items]

117,214,465

163,801,798

2,004,171

20,767,788

^[1]

(3,249,855)

Net change in unrealized appreciation/(depreciation) included in earnings

(10,914,376)

(8,145,056)

(65,579,615)

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022

96,909,349

117,214,465

(19,059,432)

(63,138,372)

Debt Investments [Member]

^[2]

(1,775,506)

Impairment Effects on Earnings Per Share [Line Items]

4,488,200

Debt Investments [Member] | Fair Value, Inputs, Level 3 [Member]

3,115,764

4,488,200

Impairment Effects on Earnings Per Share [Line Items]

4,488,200

3,011,438

998

1,509,093

(500,000)

(1,000,000)

^[1]

Net change in unrealized appreciation/(depreciation) included in earnings

(873,434)

967,669

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022

3,115,764

4,488,200

(873,434)

967,669

Impairment Effects on Earnings Per Share [Line Items]

^[2]

Options [Member]

Options [Member] | Fair Value, Inputs, Level 3 [Member]

3,900,883

Impairment Effects on Earnings Per Share [Line Items]

3,469,497

4,959,112

501,470

503,183

^[1]

(501,663)

Net change in unrealized appreciation/(depreciation) included in earnings

(30,647)

(70,379)

462,226

(1,873,780)

Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022

3,900,883

3,469,497

$ 429,916

(1,624,324)

SCHEDULE OF FINANCIAL HIGHLIGHTS

^[2]

$ (48,639)

[1]	During the six months ended June 30, 2023, the Company’s portfolio investments had the following corporate actions which are reflected above:
[2]	During the year ended December 31, 2022, the Company’s portfolio investments had the following corporate actions which are reflected above:

INVESTMENT NOT INCLUDING CAPITALIZED TRANSACTION COSTS (Details) - USD ($)	1 Months Ended
	Aug. 08, 2023	Jun. 30, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Investments amount		$ 236,178,680	$ 242,245,395
Subsequent Event [Member]
Subsequent Event [Line Items]
Investments amount	$ 7,303,267
Subsequent Event [Member] \| Four Kites Inc [Member]
Subsequent Event [Line Items]
Transaction date	Various
Investments amount	$ 5,803,269
Subsequent Event [Member] \| Shogun Enterprises, Inc. [Member]
Subsequent Event [Line Items]
Transaction date	7/12/2023
Investments amount	$ 499,998
Subsequent Event [Member] \| Stake Trade Inc [Member]
Subsequent Event [Line Items]
Transaction date	7/26/2023
Investments amount	$ 1,000,000
Subsequent Event [Member] \| Four Kites Inc [Member]
Subsequent Event [Line Items]
Investment description	Common shares
Subsequent Event [Member] \| Shogun Enterprises, Inc. [Member]
Subsequent Event [Line Items]
Investment description	Preferred shares
Subsequent Event [Member] \| Stake Trade Inc [Member]
Subsequent Event [Line Items]
Investment description	Simple Agreement for Future Equity

FINANCIAL HIGHLIGHTS (Tables)

6 Months Ended

Jun. 30, 2023

Investment Company [Abstract]

SCHEDULE OF FINANCIAL HIGHLIGHTS


	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Per Basic Share Data
Net asset value at beginning of the year	$	7.59		$	12.22		$	7.39		$	11.72
Net investment loss⁽¹⁾		(0.15	)		(0.12	)		(0.30	)		(0.26	)
Net realized gain/(loss) on investments⁽¹⁾		(0.51	)		(0.06	)		(0.48	)		0.04
Net change in unrealized appreciation/(depreciation) of investments⁽¹⁾		0.06			(2.89	)		0.37			(2.17	)
Dividends declared		—			—			—			(0.11	)
Issuance of common stock from public offering⁽¹⁾		—			—			—			0.01
Repurchase of common stock⁽¹⁾		0.33			0.07			0.33			(0.01	)
Stock-based compensation⁽¹⁾		0.03			0.02			0.04			0.02
Net asset value at end of period	$	7.35		$	9.24		$	7.35		$	9.24
Per share market value at end of period	$	3.20		$	6.40		$	3.20		$	6.40
Total return based on market value⁽²⁾		(11.60	)%		(25.84	)%		(15.79	)%		(49.14	)%
Total return based on net asset value⁽²⁾		(3.16	)%		(24.39	)%		(0.54	)%		(20.22	)%
Shares outstanding at end of period		25,398,640			30,325,187			25,398,640			30,325,187
Ratios/Supplemental Data:
Net assets at end of period	$	186,692,724		$	280,172,472		$	186,692,724		$	280,172,472
Average net assets	$	205,097,855		$	378,428,728		$	207,210,870		$	371,249,600
Ratio of net operating expenses to average net assets⁽³⁾		10.13	%		4.24	%		10.41	%		4.80	%
Ratio of net investment loss to average net assets⁽³⁾		(7.44	)%		(3.48	)%		(7.81	)%		(4.18	)%
Portfolio Turnover Ratio		2.09	%		1.57	%		3.89	%		2.05	%

(1)	Based on weighted-average number of shares outstanding for the relevant period.
(2)	Total return based on market value is based upon the change in market price per share between the opening and ending market values per share in the period, adjusted for dividends and equity issuances. Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period, adjusted for dividends and equity issuances.
(3)	Financial highlights for periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.

RELATED-PARTY ARRANGEMENTS (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Total Portfolio Investments	$ 160,283,146	$ 157,188,578
Churchill Sponsor VI LLC [Member]
Total Portfolio Investments	200,000
Churchill Sponsor VII LLC [Member]
Total Portfolio Investments	300,000
Skillsoft Corp. [Member]
Total Portfolio Investments	1,217,485
Shogun Enterprises, Inc. [Member]
Total Portfolio Investments	7,655,365
Architect Capital PayJoy SPV, LLC [Member]
Total Portfolio Investments	10,000,000
Colombier Sponsor LLC [Member]
Total Portfolio Investments	17,182,605
AltC Sponsor LLC [Member]
Total Portfolio Investments	$ 250,000

Fair value of investment in security owned.

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RELATED-PARTY ARRANGEMENTS

RELATED-PARTY ARRANGEMENTS

6 Months Ended

Jun. 30, 2023

NOTE 3—RELATED-PARTY ARRANGEMENTS

The Company’s executive officers and directors serve or may serve as officers, directors, or managers of entities that operate in a line of business similar to the Company’s, including new entities that may be formed in the future. Accordingly, they may have obligations to investors in those entities, the fulfillment of which might not be in the best interests of the Company or the Company’s stockholders.

The 1940 Act prohibits the Company from participating in certain negotiated co-investments with certain affiliates unless it receives an order from the SEC permitting it to do so. As a BDC, the Company is prohibited under the 1940 Act from participating in certain transactions with certain of its affiliates without the prior approval of the Board of Directors, including its independent directors, and, in some cases, the SEC. The affiliates with which the Company may be prohibited from transacting include its officers, directors, and employees and any person controlling or under common control with the Company, subject to certain exceptions.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

In the ordinary course of business, the Company may enter into transactions with portfolio companies that may be considered related-party transactions. To ensure that the Company does not engage in any prohibited transactions with any persons affiliated with the Company, the Company has implemented certain written policies and procedures whereby the Company’s executive officers screen each of the Company’s transactions for any possible affiliations between the proposed portfolio investment, the Company, companies controlled by the Company, and the Company’s executive officers and directors.

The Company’s investment in Churchill Sponsor VI LLC, the sponsor of Churchill Capital Corp. VI, a SPAC, constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mark D. Klein, the Company’s Chairman, Chief Executive Officer and President, has a non-controlling interest in the entity that controls Churchill Sponsor VI LLC, and is a non-controlling member of the board of directors of Churchill Capital Corp VI. The Company’s investment in Churchill Sponsor VII LLC, the sponsor of Churchill Capital Corp. VII, a SPAC, also constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mr. Klein has a non-controlling interest in the entity that controls Churchill Sponsor VII LLC, and is a non-controlling member of the board of directors of Churchill Capital Corp. VII. In addition, Mr. Klein’s brother, Michael Klein, is a control person of such Churchill entities. As of June 30, 2023, the fair values of the Company’s investments in Churchill Sponsor VI LLC and Churchill Sponsor VII LLC were $200,000 and $300,000, respectively.

The Company’s investment in Skillsoft Corp. (f/k/a Software Luxembourg Holding S.A.) (“Skillsoft”) constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mr. Klein has a non-controlling interest in the entity that controls Churchill Sponsor II LLC, the sponsor of Churchill Capital Corp. II, a SPAC, and was a non-controlling member of the board of directors of Churchill Capital Corp. II, through which the Company executed a private investment in public equity transaction in order to acquire common shares of Skillsoft alongside the merger of Skillsoft and Churchill Capital Corp II. In addition, Mr. Klein’s brother, Michael Klein, is a control person of such Churchill entities. As of June 30, 2023, the fair value of the Company’s investment in Skillsoft Corp. was $1,217,485.

The Company’s initial investment in Shogun Enterprises, Inc. on February 26, 2021 constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Keri Findley, a former senior managing director of the Company until her departure on March 9, 2022, was at the time of investment a non-controlling member of the board of directors of Shogun Enterprises, Inc., and held a minority equity interest in such portfolio company. The Company’s investment in Architect Capital PayJoy SPV, LLC also constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Ms. Findley, at the time of investment, was a non-controlling member of the board of directors of the investment manager to Architect Capital PayJoy SPV, LLC, and held a minority equity interest in such investment manager. As of June 30, 2023, the fair values of the Company’s remote-affiliate investments in Shogun Enterprises, Inc. (d/b/a Hearth) and Architect Capital PayJoy SPV, LLC were $7,655,365 and $10,000,000, respectively.

In addition, Ms. Findley and Claire Councill, a former investment professional of the Company until her departure on April 15, 2022, are non-controlling members of the board of directors of Colombier Acquisition Corp., a SPAC, which is sponsored by Colombier Sponsor LLC, one of the Company’s portfolio companies. The Company’s investment in AltC Sponsor LLC, the sponsor of AltC Acquisition Corp, a SPAC, constituted a “remote-affiliate” transaction for purposes of the 1940 Act in light of the fact that Mr. Klein has a non-controlling interest in one of the entities that controls AltC Sponsor LLC, and Allison Green, the Company’s Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary, is a non-controlling member of the board of directors of AltC Acquisition Corp. As of June 30, 2023, the fair values of the Company’s aggregate investments in each of Colombier Sponsor LLC and AltC Sponsor LLC were $17,182,605 and $250,000, respectively.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

SCHEDULE OF INVESTMENTS (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

Aug. 08, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2022

Mar. 31, 2022

Jun. 30, 2023

Jun. 30, 2022

Subsequent Event [Member]

$ (13,270,199)

$ 189,343

$ (1,966,225)

$ 3,096,275

$ (13,080,856)

$ 1,130,050

Net proceeds

$ 1,903,635

Subsequent Event [Member] | Nextdoor Holdings, Inc. [Member]

^[1]

$ (1,394,547)

Transaction date

Various

Shares sold

589,996

Average net share price

^[1]

$ 3.09

Net proceeds

$ 1,820,302

Subsequent Event [Member] | Residential Homes For Rent, LLC [Member]

^[2]

$ (1,394,547)

Transaction date

^[3]

7/24/2023

Net proceeds

^[3]

$ 83,333

^[1],[2],[3]

[1]	The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
[2]	Realized loss does not include adjustments to amounts held in escrow receivable.
[3]	Subsequent to June 30, 2023, $0.1 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, $0.1 million repaid a portion of the outstanding principal and the remaining proceeds were attributed to interest.

INCOME TAXES

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 9—INCOME TAXES

The Company elected to be treated as a RIC under Subchapter M of the Code beginning with its taxable year ended December 31, 2014 and has qualified to be treated as a RIC for subsequent taxable years. The Company intends to continue to operate so as to qualify to be subject to tax treatment as a RIC under Subchapter M of the Code and, as such, will not be subject to U.S. federal income tax on the portion of taxable income (including gains) distributed as dividends for U.S. federal income tax purposes to stockholders. Taxable income includes the Company’s taxable interest, dividend and fee income, reduced by certain deductions, as well as taxable net realized investment gains. Taxable income generally differs from net income for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses, and generally excludes net unrealized appreciation or depreciation, as such gains or losses are not included in taxable income until they are realized.

To qualify and be subject to tax as a RIC, the Company is required to meet certain income and asset diversification tests in addition to distributing dividends of an amount generally at least equal to 90% of its investment company taxable income, as defined by the Code and determined without regard to any deduction for distributions paid, to its stockholders. The amount to be paid out as a distribution is determined by the Board of Directors each quarter and is based upon the annual earnings estimated by the management of the Company. To the extent that the Company’s earnings fall below the amount of dividend distributions declared, however, a portion of the total amount of the Company’s distributions for the fiscal year may be deemed a return of capital for tax purposes to the Company’s stockholders.

As a RIC, the Company will be subject to a 4% nondeductible U.S. federal excise tax on certain undistributed income unless the Company makes distributions treated as dividends for U.S. federal income tax purposes in a timely manner to its stockholders in respect of each calendar year of an amount at least equal to the sum of (1) 98% of our ordinary income (taking into account certain deferrals and elections) for each calendar year, (2) 98.2% of our capital gain net income (adjusted for certain ordinary losses) for the 1-year period ending October 31 of each such calendar year and (3) any ordinary income and net capital gains for preceding years, but not distributed during such years and on which the Company paid no U.S. federal income tax. The Company will not be subject to this excise tax on any amount on which the Company incurred U.S. federal corporate income tax (such as the tax imposed on a RIC’s retained net capital gains).

Depending on the level of taxable income earned in a taxable year, the Company may choose to carry over taxable income in excess of current taxable year distributions from such taxable income into the next taxable year and incur a 4% excise tax on such taxable income, as required. The maximum amount of excess taxable income that may be carried over for distribution in the next taxable year under the Code is the total amount of distributions paid in the following taxable year, subject to certain declaration and payment guidelines. To the extent the Company chooses to carry over taxable income into the next taxable year, distributions declared and paid by the Company in a taxable year may differ from the Company’s taxable income for that taxable year as such distributions may include the distribution of current taxable year taxable income, the distribution of prior taxable year taxable income carried over into and distributed in the current taxable year, or returns of capital.

The Company has taxable subsidiaries which hold certain portfolio investments in an effort to limit potential legal liability and/or comply with source-income type requirements contained in the RIC tax provisions of the Code. These taxable subsidiaries are consolidated for GAAP and the portfolio investments held by the taxable subsidiaries are included in the Company’s consolidated financial statements and are recorded at fair value. These taxable subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense, or benefit, and tax assets and liabilities as a result of their ownership of certain portfolio investments. Any income generated by these taxable subsidiaries generally would be subject to tax at normal corporate tax rates based on its taxable income.

The Company intends to timely distribute to its stockholders substantially all of its annual taxable income for each year, except that it may retain certain net capital gains for reinvestment and, depending upon the level of taxable income earned in a year, may choose to carry forward taxable income for distribution in the following year and pay any applicable U.S. federal excise tax.

The Company is required to include net deferred tax provision/benefit in calculating its total expenses even though these net deferred taxes are not currently payable/receivable. Taxable income generally differs from net income for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses, and generally excludes net unrealized appreciation or depreciation, as such gains or losses are not included in taxable income until they are realized.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

For U.S. federal and state income tax purposes, a portion of the Taxable Subsidiaries’ net operating loss carryforwards and basis differences may be subject to limitations on annual utilization in case of a change in ownership, as defined by federal and state law. The amount of such limitations, if any, has not been determined. Accordingly, the amount of such tax attributes available to offset future profits may be significantly less than the actual amounts of the tax attributes.

The Company and the Taxable Subsidiaries identified their major tax jurisdictions as U.S. federal, New York, and California and may be subject to the taxing authorities’ examination for the tax years 2020–2023 in New York and 2019–2023 in California, respectively. Further, the Company and the Taxable Subsidiaries accrue all interest and penalties related to uncertain tax positions as incurred. As of June 30, 2023, there were no material interest or penalties incurred related to uncertain tax positions.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Condensed Consolidated Schedule of Investments (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Mar. 31, 2023	Aug. 05, 2022	Mar. 22, 2022
Schedule of Investments [Line Items]
Investment Owned, Net Assets, Percentage	85.90%	74.80%
Investment net	$ 236,178,680	$ 242,245,395
Capital commitment			$ 1,300,000
True Global Ventures 4 Plus Fund LP [Member]
Schedule of Investments [Line Items]
Investment net		700,000
Capital commitment		2,000,000.0	$ 2,000,000.0
Residential Homes For Rent, LLC [Member]
Schedule of Investments [Line Items]
Proceeds from investment	$ 600,000	$ 1,200,000
Debt interest rate	15.00%	15.00%
Repayment for investment	$ 500,000	$ 1,000,000.0
Forge Global, Inc.[Member]
Schedule of Investments [Line Items]
Strike price					$ 3.123
Warrant exercise price					$ 3.123
Number of warrants				230,144
Number of warrants converted to common stock				53,283
Non-Qualifying Assets [Member]
Schedule of Investments [Line Items]
Investment Owned, Net Assets, Percentage	20.76%	14.47%

SCHEDULE OF FUTURE MINIMUM PAYMENTS OF OPERATING LEASE (Details)	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 96,547
2024	113,603
Total	$ 210,150

COMMON STOCK (Details Narrative) - USD ($)															3 Months Ended				6 Months Ended
COMMON STOCK (Details Narrative) - USD ($)	Mar. 17, 2023	Oct. 19, 2022	Mar. 13, 2022	Oct. 27, 2021	Oct. 28, 2020	Sep. 23, 2020	Sep. 22, 2020	Jul. 29, 2020	Mar. 09, 2020	Aug. 05, 2019	Nov. 01, 2018	May 03, 2018	Nov. 07, 2017	Aug. 08, 2017	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Apr. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Payment for repurchase of common stock																			$ 13,500,000	$ 8,252,541
Common stock par value															$ 0.01				$ 0.01		$ 0.01
Common stock value															$ 253,986				$ 253,986		$ 284,295
Stock repurchased during period value															$ 13,500,000		$ 6,892,934	$ 1,359,607
Reourchase of shares																	855,159		0	1,008,676
Issuance of common stock from public offering, shares																				17,807
Outstanding shares percentage															6.00%				6.00%		6.00%
Shares issued value																		$ 229,896
Proceeds from the issuance of common stock, net																				$ 229,896
Share Repurchase Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchased during period value														$ 5,000,000.0
Share Repurchase Program [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock value														5,000,000.0
Modified Dutch Auction Tender Offer [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reourchase of shares	3,000,000
Issuance of common stock from public offering, shares	3,000,000
Price per share	$ 4.50
Outstanding shares percentage	10.60%
Modified Dutch Auction Tender Offer [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Price per share	$ 4.50
Modified Dutch Auction Tender Offer [Member] \| Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Price per share	$ 3.00
At-the-Market Sales Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock from public offering, shares															0		0		0	17,807
Shares issued value						$ 150,000,000.0	$ 50,000,000.0
Weighted average price per share																	$ 13.01			$ 13.01		$ 13.01
Proceeds from the issuance of common stock, net																	$ 231,677			$ 231,677
Proceeds from issuance or sale of equity																	$ 229,896			$ 229,896
At-the-Market Sales Agreement [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Aggregate amount															$ 98,800,000				$ 98,800,000
Gross sales price, percentage																			2.00%
Common Stock [Member] \| Share Repurchase Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Payment for repurchase of common stock														$ 5,000,000.0
Common stock par value														$ 0.01
Stock repurchased during period value					$ 40,000,000.0				$ 30,000,000.0	$ 25,000,000.0			$ 10,000,000.0
Aggregate amount															$ 16,400,000				$ 16,400,000
Common Stock [Member] \| Share Repurchase Program [Member] \| Board of Directors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchased during period value		$ 55,000,000.0	$ 55,000,000.0	$ 40,000,000.0							$ 20,000,000.0	$ 15,000,000.0
Increase in amount of shares, repurchased value			$ 15,000,000.0		$ 10,000,000.0				$ 5,000,000.0	$ 5,000,000.0	$ 5,000,000.0	$ 5,000,000.0
Common Stock [Member] \| At-the-Market Sales Agreement [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock aggregate amount								$ 50,000,000.0

Condensed Consolidated Schedule of Investments - USD ($)

Jun. 30, 2023

Dec. 31, 2022

$ 160,283,146

$ 157,188,578

85.90%

74.80%

$ 284,571,254

^[1]

$ 301,128,106

^[2]

$ 236,178,680

^[1]

$ 242,245,395

^[2]

126.51%

^[1]

115.30%

^[2]

Skillsoft Corp. [Member]

Churchill Sponsor VII LLC [Member]

$ 1,217,485

AltC Sponsor LLC [Member]

300,000

Churchill Sponsor VI LLC [Member]

250,000

Architect Capital PayJoy SPV, LLC [Member]

200,000

Colombier Sponsor LLC [Member]

10,000,000

Non-Controlled/Non-Affiliate [Member]

17,182,605

159,012,912

^[1]

$ 155,103,810

^[2]

$ 120,620,316

^[1]

$ 130,901,546

^[2]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member]

64.61%

^[1]

62.33%

^[2]

$ 14,999,972

^[1]

$ 14,999,972

^[2]

$ 32,545,589

^[1]

$ 50,541,374

^[2]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Preferred shares, Series A 8% [Member]

17.43%

^[1]

24.06%

^[2]

Online Education

^[1]

Online Education

^[2]

Sep. 18, 2014

^[1]

Sep. 18, 2014

^[2]

2,145,509

^[1]

2,145,509

^[2]

$ 5,000,001

^[1]

$ 5,000,001

^[2]

$ 22,545,618

^[1]

$ 40,541,403

^[2]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Preferred shares, Series C 8% [Member]

12.08%

^[1]

19.30%

^[2]

Nov. 05, 2021

^[1]

Nov. 05, 2021

^[2]

275,659

^[1]

275,659

^[2]

$ 9,999,971

^[1]

$ 9,999,971

^[2]

$ 9,999,971

^[1]

$ 9,999,971

^[2]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member]

5.36%

^[1]

4.76%

^[2]

$ 15,004,340

^[1]

$ 15,004,340

^[2]

$ 11,692,831

^[1]

$ 10,949,898

^[2]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series A Preferred Stock [Member]

6.26%

^[1]

5.21%

^[2]

Pharmaceutical Technology

^[1]

Pharmaceutical Technology

^[2]

Oct. 27, 2020

^[1]

Oct. 27, 2020

^[2]

238,095

^[1]

238,095

^[2]

$ 5,000,423

^[1]

$ 5,000,423

^[2]

$ 1,692,856

^[1]

$ 949,924

^[2]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series C Preferred Stock [Member]

0.91%

^[1]

0.45%

^[2]

Oct. 27, 2020

^[1]

Oct. 27, 2020

^[2]

261,944

^[1]

261,944

^[2]

$ 10,003,917

^[1]

$ 10,003,917

^[2]

$ 9,999,975

^[1]

$ 9,999,974

^[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member]

5.36%

^[1]

4.76%

^[2]

$ 12,509,393

^[1],[3]

$ 10,505,697

^[2]

$ 9,014,642

^[1],[3]

$ 10,499,996

^[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Series D Preferred Stock [Member]

4.83%

^[1],[3]

5.00%

^[2]

Real Estate Platform

^[1],[3]

Real Estate Platform

^[2]

Aug. 09, 2021

^[1],[3]

Aug. 09, 2021

^[2]

558,053

^[1],[3]

1,488,139

^[2]

$ 3,751,518

^[1],[3]

$ 10,004,034

^[2]

^[1],[3]

$ 9,999,996

^[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Simple Agreement for Future Equity [Member]

^[1],[3]

4.76%

^[2]

^[2]

Sep. 02, 2022

^[2]

^[2]

$ 501,663

^[2]

$ 500,000

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Common Stock [Member]

^[2]

0.24%

^[1],[3]

Aug. 09, 2021

^[1],[3]

558,053

^[1],[3]

$ 3,751,518

^[1],[3]

Non-Controlled/Non-Affiliate [Member] | Locus Robotics Corp [Member] | Series F Preferred Stock [Member]

^[1],[3]

Warehouse Automation

^[1]

Warehouse Automation

^[2]

Nov. 30, 2022

^[1]

Nov. 30, 2022

^[2]

232,568

^[1]

232,568

^[2]

$ 10,004,286

^[1]

$ 10,004,286

^[2]

$ 10,008,042

^[1]

$ 10,000,005

^[2]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member]

5.36%

^[1]

4.76%

^[2]

$ 1,283,005

^[1]

$ 1,283,005

^[2]

$ 3,689,833

^[1]

$ 6,541,511

^[2]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member] | Series A Preferred Stock [Member]

1.98%

^[1]

3.11%

^[2]

Financial Services

^[1]

Financial Services

^[2]

Aug. 11, 2015

^[1]

Aug. 11, 2015

^[2]

540,270

^[1]

540,270

^[2]

$ 1,001,815

^[1]

$ 1,001,815

^[2]

$ 3,473,594

^[1]

$ 6,229,360

^[2]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member] | Series C-3 Preferred Stock [Member]

1.86%

^[1]

2.97%

^[2]

Aug. 12, 2019

^[1]

Aug. 12, 2019

^[2]

24,912

^[1]

24,912

^[2]

$ 281,190

^[1]

$ 281,190

^[2]

$ 216,239

^[1]

$ 312,151

^[2]

Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member] | Series C Preferred Stock [Member]

0.12%

^[1]

0.15%

^[2]

Fitness Technology

^[1]

Fitness Technology

^[2]

Jun. 30, 2022

^[1]

Jun. 30, 2022

^[2]

13,293,450

^[1]

13,293,450

^[2]

$ 10,011,460

^[1]

$ 10,011,460

^[2]

$ 3,308,740

^[1]

$ 6,084,041

^[2]

Non-Controlled/Non-Affiliate [Member] | Forge Global, Inc.[Member] | Common Stock [Member]

1.77%

^[1]

2.90%

^[2]

Online Marketplace Finance

^[1],[4],[5]

Online Marketplace Finance

Jul. 20, 2011

^[1],[4],[5]

Jul. 20, 2011

2,508,074

^[1],[4],[5]

2,508,074

$ 3,443,483

^[1],[4],[5]

$ 3,443,483

$ 6,094,620

^[1],[4],[5]

$ 4,338,968

Non-Controlled/Non-Affiliate [Member] | Nextdoor Holdings, Inc. [Member] | Common Class B [Member]

3.26%

^[1],[4],[5]

2.07%

Social Networking

^[1],[4],[5]

Social Networking

Sep. 27, 2018

^[1],[4],[5]

Sep. 27, 2018

852,416

^[1],[4],[5]

1,802,416

$ 4,678,896

^[1],[4],[5]

$ 10,002,666

$ 2,778,876

^[1],[4],[5]

$ 3,712,977

Non-Controlled/Non-Affiliate [Member] | NewLake Capital Partners, Inc (f/k/a GreenAcreage Real Estate Corp.) [Member] | Common Stock [Member]

1.49%

^[1],[4],[5]

1.77%

Cannabis REIT

^{[1],[4],[5],[6]}

Cannabis REIT

Aug. 12, 2019

^{[1],[4],[5],[6]}

Aug. 12, 2019

105,820

^{[1],[4],[5],[6]}

229,758

$ 2,198,836

^{[1],[4],[5],[6]}

$ 4,678,686

$ 1,460,316

^{[1],[4],[5],[6]}

$ 3,680,723

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member]

0.78%

^{[1],[4],[5],[6]}

1.75%

$ 7,503,318

^[1]

$ 7,503,318

^[2]

$ 7,655,365

^[1]

$ 3,306,047

^[2]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred shares, Series B-1 [Member]

4.10%

^[1]

1.57%

^[2]

Home Improvement Finance

^[1]

Home Improvement Finance

^[2]

Feb. 26, 2021

^[1]

Feb. 26, 2021

^[2]

436,844

^[1]

436,844

^[2]

$ 3,501,657

^[1]

$ 3,501,657

^[2]

$ 3,499,994

^[1]

$ 1,403,023

^[2]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred shares, Series B-2 [Member]

1.87%

^[1]

0.67%

^[2]

Feb. 26, 2021

^[1]

Feb. 26, 2021

^[2]

301,750

^[1]

301,750

^[2]

$ 3,501,661

^[1]

$ 3,501,661

^[2]

$ 3,499,998

^[1]

$ 1,403,024

^[2]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Convertible Note 0.5%, Due 4/18/2024 [Member]

1.87%

^[1]

0.67%

^[2]

May 02, 2022

^[1],[6]

May 02, 2022

500,000

^[1],[6]

500,000

$ 500,000

^[1],[6]

$ 500,000

$ 655,373

^[1],[6]

$ 500,000

Non-Controlled/Non-Affiliate [Member] | True Global Ventures 4 Plus Pte Ltd [Member] | Limited Partner Fund Investment [Member]

0.35%

^[1],[6]

0.24%

Venture Investment Fund

^[1],[5],[7]

Venture Investment Fund

Aug. 27, 2021

^[1],[5],[7]

Aug. 27, 2021

^[1],[5],[7]

$ 1,077,371

^[1],[5],[7]

$ 4,081,077

^[1],[5],[7]

$ 3,063,358

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member]

2.19%

^[1],[5],[7]

1.46%

$ 2,000,000

^[1]

$ 2,500,000

^[2]

$ 3,370,381

^[1]

$ 2,959,713

^[2]

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member] | Series A Preferred Stock [Member]

1.81%

^[1]

1.41%

^[2]

Real Estate Platform

^[1],[8]

Real Estate Platform

^[2],[9]

Dec. 23, 2020

^[1],[8]

Dec. 23, 2020

^[2],[9]

150,000

^[1],[8]

150,000

^[2],[9]

$ 1,500,000

^[1],[8]

$ 1,500,000

^[2],[9]

$ 2,870,381

^[1],[8]

$ 1,959,713

^[2],[9]

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member] | Term loan 15%, Due 12/23/2023 [Member]

1.54%

^[1],[8]

0.93%

^[2],[9]

Dec. 23, 2020

^[1],[6],[10]

Dec. 23, 2020

^{[2],[11],[12]}

500,000

^[1],[6],[10]

1,000,000

^{[2],[11],[12]}

$ 500,000

^[1],[6],[10]

$ 1,000,000

^{[2],[11],[12]}

$ 500,000

^[1],[6],[10]

$ 1,000,000

^{[2],[11],[12]}

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member]

0.27%

^[1],[6],[10]

0.48%

^{[2],[11],[12]}

$ 10,005,748

^[1],[5]

$ 10,005,748

$ 686,528

^[1],[5]

$ 2,927,814

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Common Stock [Member]

0.37%

^[1],[5]

1.39%

Retail Technology

^[1],[5]

Retail Technology

Jun. 09, 2021

^[1],[5]

Jun. 09, 2021

55,591

^[1],[5]

55,591

$ 2,781,148

^[1],[5]

$ 2,781,148

^[1],[5]

$ 280,797

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Preferred Stock Investec Series [Member]

^[1],[5]

0.13%

Jun. 09, 2021

^[1],[5]

Jun. 09, 2021

144,409

^[1],[5]

144,409

$ 7,224,600

^[1],[5]

$ 7,224,600

$ 686,528

^[1],[5]

$ 2,647,017

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member]

0.37%

^[1],[5]

1.26%

^[1]

$ 3,003,040

^[1]

$ 3,000,002

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Simple Agreement for Future Equity [Member]

^[1]

1.61%

^[1]

May 25, 2023

^[1]

^[1]

$ 501,470

^[1]

$ 500,000

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Preferred Stock [Member]

^[1]

0.27%

Mobile Access Technology

^[1]

Mobile Access Technology

^[2]

Jul. 23, 2021

^[1]

Jul. 23, 2021

^[2]

244,117

^[1]

244,117

^[2]

$ 2,501,570

^[1]

$ 2,501,570

^[2]

$ 2,500,002

^[1]

$ 2,500,002

^[2]

Non-Controlled/Non-Affiliate [Member] | Aventine Property Group, Inc [Member] | Common Stock [Member]

1.34%

^[1]

1.19%

^[2]

Cannabis REIT

^[1],[6]

Cannabis REIT

^[2],[12]

Sep. 11, 2019

^[1],[6]

Sep. 11, 2019

^[2],[12]

312,500

^[1],[6]

312,500

^[2],[12]

$ 2,580,750

^[1],[6]

$ 2,580,750

^[2],[12]

$ 1,363,844

^[1],[6]

$ 1,917,521

^[2],[12]

Non-Controlled/Non-Affiliate [Member] | Varo Money, Inc [Member] | Common Stock [Member]

0.73%

^[1],[6]

0.91%

^[2],[12]

Financial Services

^[1],[5]

Financial Services

Aug. 11, 2021

^[1],[5]

Aug. 11, 2021

1,079,266

^[1],[5]

1,079,266

$ 10,005,548

^[1],[5]

$ 10,005,548

$ 3,776,219

^[1],[5]

$ 1,286,783

Non-Controlled/Non-Affiliate [Member] | Skillsoft Corp. [Member] | Common Stock [Member]

2.02%

^[1],[5]

0.61%

Online Education

^[1],[4],[5]

Online Education

Jun. 08, 2021

^[1],[4],[5]

Jun. 08, 2021

981,843

^[1],[4],[5]

981,843

$ 9,818,430

^[1],[4],[5]

$ 9,818,430

$ 1,217,485

^[1],[4],[5]

$ 1,276,396

Non-Controlled/Non-Affiliate [Member] | Commercial Streaming Solutions Inc. (d/b/a BettorView) [Member] | Simple Agreement for Future Equity [Member]

0.65%

^[1],[4],[5]

0.61%

Interactive Media & Services

^[1],[13]

Interactive Media & Services

Mar. 26, 2021

^[1],[13]

Mar. 26, 2021

^[1],[13]

$ 1,004,240

^[1],[13]

$ 1,004,240

$ 1,000,000

^[1],[13]

$ 1,000,000

Non-Controlled/Non-Affiliate [Member] | Rebric, Inc. [Member] | Preferred Stock Series Seed-4 [Member]

0.54%

^[1],[13]

0.48%

Gaming Licensing

^[1],[13]

Gaming Licensing

Oct. 12, 2021

^[1],[13]

Oct. 12, 2021

2,477,585

^[1],[13]

2,064,409

$ 1,003,227

^[1],[13]

$ 1,002,755

$ 822,937

^[1],[13]

$ 1,000,000

Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Limited (d/b/a Xpoint) [Member] | Convertible Note 6%, Due 8/17/2023 [Member]

0.44%

^[1],[13]

0.48%

Geolocation Technology

^{[1],[5],[6],[13]}

Geolocation Technology

Aug. 17, 2022

^{[1],[5],[6],[13]}

Aug. 17, 2022

1,000,000

^{[1],[5],[6],[13]}

1,000,000

$ 1,010,091

^{[1],[5],[6],[13]}

$ 1,009,093

$ 1,000,000

^{[1],[5],[6],[13]}

$ 1,000,000

Non-Controlled/Non-Affiliate [Member] | YouBet Technology, Inc. [Member] | Preferred Stock Series Seed 2 [Member]

0.54%

^{[1],[5],[6],[13]}

0.48%

Digital Media Technology

^[1],[13]

Digital Media Technology

Aug. 26, 2021

^[1],[13]

Aug. 26, 2021

578,029

^[1],[13]

578,029

$ 752,943

^[1],[13]

$ 752,943

$ 749,998

^[1],[13]

$ 749,998

Non-Controlled/Non-Affiliate [Member] | EDGE Markets, Inc. [Member] | Preferred Stock, Series Seed [Member]

0.40%

^[1],[13]

0.36%

Gaming Technology

^[1],[13]

Gaming Technology

May 18, 2022

^[1],[13]

May 18, 2022

456,704

^[1],[13]

456,704

$ 501,330

^[1],[13]

$ 501,330

$ 500,000

^[1],[13]

$ 500,000

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member]

0.27%

^[1],[13]

0.24%

$ 300,000

^[1],[5],[14]

$ 300,000

$ 300,000

^[1],[5],[14]

$ 300,000

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member] | Common Stock [Member]

0.16%

^[1],[5],[14]

0.14%

Special Purpose Acquisition Company

^[1],[5],[14]

Special Purpose Acquisition Company

Feb. 25, 2021

^[1],[5],[14]

Feb. 25, 2021

292,100

^[1],[5],[14]

292,100

$ 205,820

^[1],[5],[14]

$ 205,820

$ 205,820

^[1],[5],[14]

$ 205,820

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member] | Warrant [Member]

0.11%

^[1],[5],[14]

0.10%

Feb. 25, 2021

^[1],[5],[14]

Feb. 25, 2021

277,000

^[1],[5],[14]

277,000

$ 94,180

^[1],[5],[14]

$ 94,180

$ 94,180

^[1],[5],[14]

$ 94,180

Non-Controlled/Non-Affiliate [Member] | AltC Sponsor LLC [Member] | Share Units [Member]

0.05%

^[1],[5],[14]

0.04%

Special Purpose Acquisition Company

^[1],[5],[14]

Special Purpose Acquisition Company

Jul. 21, 2021

^[1],[5],[14]

Jul. 21, 2021

239,300

^[1],[5],[14]

239,300

$ 250,855

^[1],[5],[14]

$ 250,855

$ 250,000

^[1],[5],[14]

$ 250,000

Non-Controlled/Non-Affiliate [Member] | Rent the Runway, Inc. [Member] | Common Stock [Member]

0.13%

^[1],[5],[14]

0.12%

Subscription Fashion Rental

Jun. 17, 2020

79,191

$ 1,203,293

$ 241,533

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member]

0.12%

$ 200,000

^[1],[5],[14]

$ 200,000

$ 200,000

^[1],[5],[14]

$ 200,000

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member] | Common Stock [Member]

0.11%

^[1],[5],[14]

0.10%

Special Purpose Acquisition Company

^[1],[5],[14]

Special Purpose Acquisition Company

Feb. 25, 2021

^[1],[5],[14]

Feb. 25, 2021

195,000

^[1],[5],[14]

195,000

$ 134,297

^[1],[5],[14]

$ 134,297

$ 134,297

^[1],[5],[14]

$ 134,297

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member] | Warrant [Member]

0.07%

^[1],[5],[14]

0.06%

Feb. 25, 2021

^[1],[5],[14]

Feb. 25, 2021

199,100

^[1],[5],[14]

199,100

$ 65,703

^[1],[5],[14]

$ 65,703

$ 65,703

^[1],[5],[14]

$ 65,703

Non-Controlled/Non-Affiliate [Member] | Kahoot ASA [Member] | Common Stock [Member]

0.04%

^[1],[5],[14]

0.03%

Education Software

Dec. 05, 2014

38,305

$ 176,067

$ 72,888

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member]

0.03%

$ 10,513,661

^[1]

$ 10,513,661

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Stock Series 1-D [Member]

^[1]

^[2]

Micromobility

^[1]

Micromobility

^[2]

Jan. 25, 2019

^[1]

Jan. 25, 2019

^[2]

41,237,113

^[1]

41,237,113

^[2]

$ 10,007,322

^[1]

$ 10,007,322

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Convertible Note 4% Due 5/11/2027 [Member]

^[1]

^[2]

May 11, 2020

^[1],[15]

May 11, 2020

^[2],[16]

506,339

^[1],[15]

506,339

^[2],[16]

$ 506,339

^[1],[15]

$ 506,339

^[2],[16]

^[1],[15]

^[2],[16]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Common Warrants Strike Price $0.01 Expiration Date 5/11/2027 [Member]

^[1],[15]

^[2],[16]

May 11, 2020

^[1]

May 11, 2020

^[2]

2,032,967

^[1]

2,032,967

^[2]

^[1]

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member]

^[1]

^[2]

$ 8,421,364

^[1]

$ 8,421,364

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Promissory Note 1.47%, Due 11/9/2021 [Member]

^[1]

^[2]

Mar. 03, 2016

^{[1],[15],[17]}

Mar. 03, 2016

^{[2],[16],[18]}

2,270,458

^{[1],[15],[17]}

2,270,458

^{[2],[16],[18]}

$ 2,270,858

^{[1],[15],[17]}

$ 2,270,858

^{[2],[16],[18]}

^{[1],[15],[17]}

^{[2],[16],[18]}

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Common Stock [Member]

^{[1],[15],[17]}

^{[2],[16],[18]}

Business Education

^[1]

Business Education

^[2]

May 13, 2012

^[1]

May 13, 2012

^[2]

517,917

^[1]

517,917

^[2]

$ 6,150,506

^[1]

$ 6,150,506

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Treehouse Real Estate Investment Trust, Inc. [Member] | Common Stock [Member]

^[1]

^[2]

Cannabis REIT

^[1]

Cannabis REIT

^[2]

Sep. 11, 2019

^[1]

Sep. 11, 2019

^[2]

312,500

^[1]

312,500

^[2]

$ 4,919,250

^[1]

$ 4,919,250

^[2]

^[1]

^[2]

Non-Controlled/Non-Affiliate [Member] | Kinetiq Holdings LLC [Member] | Common Class A [Member]

^[1]

^[2]

Social Data Platform

^[1]

Social Data Platform

^[2]

Mar. 30, 2012

^[1]

Mar. 30, 2012

^[2]

112,374

^[1]

112,374

^[2]

^[1]

^[2]

$ 53,001

^[1]

^[2]

Non-Controlled Affiliate [Member]

0.03%

^[1]

^[2]

$ 30,195,780

^[1],[19]

$ 41,140,804

^[2],[20]

$ 11,546,197

^[1],[19]

$ 12,591,162

^[2],[20]

Non-Controlled Affiliate [Member] | StormWind, LLC [Member]

6.18%

^[1],[19]

6.00%

^[2],[20]

$ 6,387,741

^[1]

$ 6,387,741

^{[2],[20],[21]}

$ 10,585,806

^[1]

$ 9,950,835

^{[2],[20],[21]}

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series D 8% [Member]

5.67%

^[1]

4.74%

^{[2],[20],[21]}

Interactive Learning

^{[1],[19],[22]}

Interactive Learning

Nov. 26, 2019

^{[1],[19],[22]}

Nov. 26, 2019

329,337

^{[1],[19],[22]}

329,337

$ 257,267

^{[1],[19],[22]}

$ 257,267

$ 563,039

^{[1],[19],[22]}

$ 533,429

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series C 8% [Member]

0.30%

^{[1],[19],[22]}

0.25%

Jan. 07, 2014

2,779,134

$ 4,000,787

$ 5,952,610

$ 5,675,081

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series B 8% [Member]

3.19%

2.70%

Dec. 16, 2011

3,279,629

$ 2,019,687

$ 3,845,497

$ 3,550,631

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series A 8% [Member]

2.06%

1.69%

Feb. 25, 2014

366,666

$ 110,000

$ 224,660

$ 191,694

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member]

0.12%

0.09%

$ 9,590,380

$ 960,391

$ 2,640,327

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Derivative Security, Expiration Date 8/23/2024 [Member]

0.51%

1.26%

Global Innovation Platform

Aug. 23, 2019

$ 8,555,124

$ 652,127

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Convertible Promissory Note 8% Due 8/23/2024 [Member]

0.31%

Feb. 17, 2016

^{[1],[15],[19]}

Feb. 17, 2016

1,010,198

^{[1],[15],[19]}

1,010,198

$ 1,030,176

^{[1],[15],[19]}

$ 1,030,176

$ 960,391

^{[1],[15],[19]}

$ 1,988,200

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Preferred Warrant Series B, Strike Price $2.31, Expiration Date 12/31/2023 [Member]

0.51%

^{[1],[15],[19]}

0.95%

Dec. 31, 2018

250,000

$ 5,080

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member]

$ 10,945,024

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member] | Preferred shares, Series C-2 6% [Member]

Digital Media Platform

Aug. 31, 2016

683,482

$ 2,414,178

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member] | Preferred shares, Series B 6% [Member]

Oct. 03, 2014

922,509

$ 4,999,999

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member] | Preferred Shares Series A 6 % [Member]

Dec. 11, 2013

1,090,909

$ 3,000,200

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member] | Preferred Shares Series Seed 6% [Member]

Nov. 02, 2012

500,000

$ 500,000

Non-Controlled Affiliate [Member] | Ozy Media, Inc. [Member] | Common Warrants, Strike Price $0.01, Expiration Date 4/9/2028 [Member]

Apr. 09, 2018

295,565

$ 30,647

Non-Controlled Affiliate [Member] | Maven Research Inc [Member]

$ 2,217,653

^[1]

$ 2,217,653

^[1]

Non-Controlled Affiliate [Member] | Maven Research Inc [Member] | Series C Preferred Stock [Member]

^[1]

Knowledge Networks

Jul. 02, 2012

318,979

$ 2,000,447

Non-Controlled Affiliate [Member] | Maven Research Inc [Member] | Series B Preferred Stock [Member]

Feb. 28, 2012

49,505

$ 217,206

Non-Controlled Affiliate [Member] | Curious.Com Inc [Member] | Common Stock [Member]

Online Education

Nov. 22, 2013

1,135,944

$ 12,000,006

Controlled [Member]

$ 19,883,894

^[1],[23]

$ 19,883,894

^[2],[24]

$ 28,116,633

^[1],[23]

$ 13,695,870

^[2],[24]

Controlled [Member] | Architect Capital PayJoy SPV, LLC [Member] | Membership Interest in Lending SPV [Member]

15.06%

^[1],[23]

6.52%

^[2],[24]

Mobile Finance Technology

Mar. 24, 2021

10,000,000

$ 10,006,745

$ 10,000,000

Controlled [Member] | Colombier Sponsor LLC [Member]

5.36%

4.76%

$ 2,715,737

$ 17,182,605

$ 2,711,842

Controlled [Member] | Colombier Sponsor LLC [Member] | Class B Units [Member]

9.20%

1.29%

Special Purpose Acquisition Company

Apr. 01, 2021

1,976,032

1,976,033

$ 1,556,587

$ 14,941,605

$ 1,554,355

Controlled [Member] | Colombier Sponsor LLC [Member] | Class W Units [Member]

8.00%

0.74%

Apr. 01, 2021

2,700,000

$ 1,159,150

$ 2,241,000

$ 1,157,487

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member]

1.20%

0.55%

$ 7,161,412

^[2],[24]

$ 934,028

$ 984,028

^[2],[24]

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member] | Common Stock [Member]

0.50%

0.47%

^[2],[24]

Apr. 15, 2014

^[2],[24]

100,000

^[2],[24]

$ 10,000

^[2],[24]

^[2],[24]

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member] | Preferred Class A [Member]

^[2],[24]

Clean Technology

^{[2],[24],[25]}

Apr. 15, 2014

^{[2],[24],[25]}

14,300,000

^{[2],[24],[25]}

$ 7,151,412

^{[2],[24],[25]}

$ 934,028

$ 984,028

^{[2],[24],[25]}

Portfolio Investments [Member]

0.50%

0.47%

^{[2],[24],[25]}

$ 209,092,586

^[1]

$ 216,128,508

^[2]

$ 160,283,146

^[1]

$ 157,188,578

^[2]

US Treasury Bill One [Member]

85.85%

^[1]

74.84%

^[2]

Dec. 29, 2022

^{[2],[12],[26]}

56,605,000

45,492,000

^{[2],[12],[26]}

$ 55,488,452

$ 45,000,118

^{[2],[12],[26]}

$ 55,898,163

$ 45,026,162

^{[2],[12],[26]}

US Treasury Bill Two [Member]

29.94%

21.44%

^{[2],[12],[26]}

Mar. 30, 2023

^[1],[4]

Dec. 29, 2022

^{[2],[12],[26]}

20,529,000

^[1],[4]

40,937,000

^{[2],[12],[26]}

$ 19,990,216

^[1],[4]

$ 39,999,480

^{[2],[12],[26]}

$ 19,997,371

^[1],[4]

$ 40,030,655

^{[2],[12],[26]}

U S. Treasury Bill [Member]

10.71%

^[1],[4]

19.06%

^{[2],[12],[26]}

$ 75,478,668

^[1]

$ 84,999,598

^[2]

$ 75,895,534

^[1]

$ 85,056,817

^[2]

Investments in and Advances to Affiliates [Abstract]

40.65%

^[1]

40.50%

^[2]

[1]	All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[2]	All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[3]	On January 13, 2023, SuRo Capital Corp. invested $2.0 million in Orchard Technologies, Inc.’s Series 1 Senior Preferred financing round. As part of the transaction, SuRo Capital Corp. exchanged a portion of its existing Series D Preferred shares investment for Series 1 Senior Preferred shares, Series 2 Senior Preferred shares, and Common shares. Additionally, SuRo Capital Corp.’s previous investment in the Simple Agreement for Future Equity was converted into additional Series 1 Senior Preferred shares.
[4]	Denotes an investment considered Level 1 or Level 2 and valued using observable inputs. Refer to “Note 4—Investments at Fair Value”.
[5]	Indicates assets that SuRo Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Of the Company’s total investments as of June 30, 2023,
[6]	Investment is income-producing.
[7]	SuRo Capital Corp.’s investments in True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SVDS Holdings, Inc. As of March 31, 2023, the previously unfunded capital commitment of $1.3 million was deemed fully contributed in lieu of cash distributions. As of March 31, 2023, the full $2.0 million capital commitment to True Global Ventures 4 Plus Fund LP had been called and funded.
[8]	SuRo Capital Corp.’s investments in preferred shares of Residential Homes for Rent, LLC (d/b/a Second Avenue) are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC AV Holdings, Inc.
[9]	SuRo Capital Corp.’s investments in preferred shares of Residential Homes for Rent, LLC (d/b/a Second Avenue) are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC AV Holdings, Inc.
[10]	During the six months ended June 30, 2023, approximately $0.6 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, approximately $0.5 million repaid a portion of the outstanding principal and the remaining was attributed to interest.
[11]	During the year ended December 31, 2022, approximately $1.2 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, approximately $1.0 million repaid a portion of the outstanding principal and the remaining was attributed to interest.
[12]	Investment is income-producing.
[13]	SuRo Capital Corp.’s investments in Commercial Streaming Solutions Inc. (d/b/a BettorView), YouBet Technology, Inc. (d/b/a FanPower), Rebric, Inc. (d/b/a Compliable), EDGE Markets, Inc., and Xgroup Holdings Limited (d/b/a Xpoint) are held through SuRo Capital Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Sports”).
[14]	Denotes an investment that is the sponsor of a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
[15]	As of June 30, 2023, the investments noted had been placed on non-accrual status.
[16]	As of December 31, 2022, the investments noted had been placed on non-accrual status.
[17]	On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.
[18]	On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.
[19]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[20]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[21]	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[22]	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[23]	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[24]	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[25]	The SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) preferred shares held by SuRo Capital Corp. do not entitle SuRo Capital Corp. to a preferred dividend. SuRo Capital Corp. does not anticipate that SPBRX, INC. will pay distributions on a quarterly or regular basis or become a predictable distributor of distributions.
[26]	Denotes an investment considered Level 1 or Level 2 and valued using observable inputs. Refer to “Note 4—Investments at Fair Value”.

DEBT CAPITAL ACTIVITIES (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	Dec. 21, 2021	Dec. 17, 2021	Jun. 30, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Debt instrument, interest rate			6.00%	6.00%
6.00% Notes due 2026 [Member]
Short-Term Debt [Line Items]
Proceeds from debt		$ 70.0
Debt instrument, issuance date		Mar. 28, 2018
Debt instrument, interest rate		6.00%
Debt instrument, frequency of periodic payment description		payable quarterly in arrears on March 30, June 30, September 30, and December 30 of each year, commencing on March 30, 2022.
Debt instrument, notes redeem, description		The Company has the right to redeem the 6.00% Notes due 2026, in whole or in part, at any time or from time to time, on or after December 30, 2024 at a redemption price of 100% of the outstanding principal amount of the 6.00% Notes due 2026 plus accrued and unpaid interest.
Closing market price, per note			$ 23.20	$ 23.51
Debt instrument, fair value			$ 69.6	$ 70.5
6.00% Notes due 2026 [Member] \| Over-Allotment Option [Member]
Short-Term Debt [Line Items]
Proceeds from debt	$ 5.0

INVESTMENTS AT FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2023

SCHEDULE OF COMPOSITION OF INVESTMENT PORTFOLIO

The following tables summarize the composition of the Company’s investment portfolio by security type at cost and fair value as of June 30, 2023 and December 31, 2022:

	June 30, 2023							December 31, 2022
	Cost		Fair Value		Percentage of Net Assets			Cost		Fair Value		Percentage of Net Assets
Private Portfolio Companies
Preferred Stock	$	106,312,054	$	96,909,349		51.9	%	$	118,472,118	$	117,214,465		55.8	%
Common Stock		65,438,476		44,805,853		24.0	%		50,601,512		18,692,931		8.9	%
Debt Investments		5,817,464		3,115,764		1.7	%		6,316,466		4,488,200		2.1	%
Options		11,384,947		3,900,883		2.1	%		11,415,787		3,469,497		1.7	%
Total Private Portfolio Companies		188,952,941		148,731,849		79.7	%		186,805,883		143,865,093		68.5	%
Publicly Traded Portfolio Companies
Common Stock		20,139,645		11,551,297		6.2	%		29,322,625		13,323,485		6.3	%
Total Portfolio Investments		209,092,586		160,283,146		85.9	%		216,128,508		157,188,578		74.8	%
Non-Portfolio Investments
U.S. Treasury Bills		75,478,668		75,895,534		40.7	%		84,999,598		85,056,817		40.5	%
Total Investments	$	284,571,254	$	236,178,680		126.5	%	$	301,128,106	$	242,245,395		115.3	%

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

The geographic and industrial compositions of the Company’s portfolio at fair value as of June 30, 2023 and December 31, 2022 were as follows:

	As of June 30, 2023								As of December 31, 2022
	Fair Value		Percentage of Portfolio			Percentage of Net Assets			Fair Value		Percentage of Portfolio			Percentage of Net Assets
Geographic Region
West	$	86,688,291		54.1	%		46.5	%	$	94,996,805		60.4	%		45.1	%
Northeast		55,437,660		34.6	%		29.7	%		46,944,432		29.9	%		22.4	%
Midwest		12,389,590		7.7	%		6.6	%		8,183,281		5.2	%		3.9	%
International		5,767,605		3.6	%		3.1	%		7,064,060		4.5	%		3.4	%
Total	$	160,283,146		100.0	%		85.9	%	$	157,188,578		100.0	%		74.8	%

	As of June 30, 2023								As of December 31, 2022
	Fair Value		Percentage of Portfolio			Percentage of Net Assets			Fair Value		Percentage of Portfolio			Percentage of Net Assets
Industry
Financial Technology	$	56,553,879		35.3	%		30.3	%	$	38,096,753		24.2	%		18.1	%
Education Technology		44,348,880		27.7	%		23.8	%		61,841,493		39.4	%		29.4	%
Marketplaces		25,038,245		15.6	%		13.4	%		27,291,467		17.4	%		13.0	%
Big Data/Cloud		22,517,497		14.0	%		12.1	%		14,927,819		9.5	%		7.1	%
Social/Mobile		10,890,617		6.8	%		5.8	%		14,047,018		8.9	%		6.7	%
Sustainability		934,028		0.6	%		0.5	%		984,028		0.6	%		0.5	%
Total	$	160,283,146		100.0	%		85.9	%	$	157,188,578		100.0	%		74.8	%

SCHEDULE OF FAIR VALUE OF INVESTMENT VALUATION INPUTS

The fair values of the Company’s investments disaggregated into the three levels of the fair value hierarchy based upon the lowest level of significant input used in the valuation as of June 30, 2023 and December 31, 2022 are as follows:

	As of June 30, 2023
	Quoted Prices in Active Markets for Identical Securities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investments at Fair Value
Private Portfolio Companies
Preferred Stock	$	—	$	—	$	96,909,349	$	96,909,349
Common Stock		—		—		44,805,853		44,805,853
Debt Investments		—		—		3,115,764		3,115,764
Options		—		—		3,900,883		3,900,883
Private Portfolio Companies		—		—		148,731,849		148,731,849
Publicly Traded Portfolio Companies
Common Stock		11,551,297		—		—		11,551,297
Non-Portfolio Investments
U.S. Treasury bills		75,895,534		—		—		75,895,534
Total Investments at Fair Value	$	87,446,831	$	—	$	148,731,849	$	236,178,680

	As of December 31, 2022
	Quoted Prices in Active Markets for Identical Securities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investments at Fair Value
Private Portfolio Companies
Preferred Stock	$	—	$	—	$	117,214,465	$	117,214,465
Common Stock		—		—		18,692,931		18,692,931
Debt Investments		—		—		4,488,200		4,488,200
Options		—		—		3,469,497		3,469,497
Private Portfolio Companies		—		—		143,865,093		143,865,093
Publicly Traded Portfolio Companies
Common Stock		13,298,992		24,493		—		13,323,485
Non-Portfolio Investments
U.S. Treasury bills		85,056,817		—		—		85,056,817
Total Investments at Fair Value	$	98,355,809	$	24,493	$	143,865,093	$	242,245,395

SCHEDULE OF FAIR VALUE OF ASSETS ON UNOBSERVABLE INPUT

As of June 30, 2023

Asset	Fair Value		Valuation Approach/ Technique⁽¹⁾	Unobservable Inputs⁽²⁾	Range (Weighted Average)⁽³⁾
Common stock in private companies	$	44,805,853	Market approach	Revenue multiples	0.91x - 10.16x (3.67x)
			PWERM⁽⁵⁾	AFFO⁽⁴⁾multiple	10.2x
Preferred stock in private companies	$	96,909,349	Market approach	Revenue multiples	0.16x - 11.7x (2.79x)
			PWERM⁽⁵⁾	Discount rate	15.0%
Debt investments	$	3,115,764	Market approach	Revenue multiples	0.44x - 5.44x (5.29x)
Options	$	3,900,883	Option pricing model	Term to expiration (Years)	0.5 - 3.87

(1)	As of June 30, 2023, the Board used a hybrid market and income approach to value certain common and preferred stock investments as the Board felt this approach better reflected the fair value of these investments. In considering multiple valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to change from one period of measurement to the next; however, the weighting of each in determining the final fair value of a Level 3 investment may change based on recent events or transactions. The hybrid approach may also consider certain risk weightings to account for the uncertainty of future events. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
(2)	The Board considers all relevant information that can reasonably be obtained when determining the fair value of Level 3 investments. Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions, or liquidity events, the type and availability of unobservable inputs may change. Increases/(decreases) in revenue multiples, earnings before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher (lower) fair values, all else equal. Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in higher (lower) fair values, all else equal. The market approach utilizes market value (revenue and EBIT) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Board carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. In general, precedent transactions include recent rounds of financing, recent purchases made by the Company, and tender offers. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
(3)	The weighted averages are calculated based on the fair market value of each investment.
(4)	Adjusted Funds From Operations, or “AFFO”.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

(5)	Probability-Weighted Expected Return Method, or “PWERM”.

As of December 31, 2022

Asset	Fair Value		Valuation Approach/ Technique⁽¹⁾	Unobservable Inputs⁽²⁾	Range (Weighted Average)⁽³⁾
Common stock in private companies	$	18,692,931	Market approach	Revenue multiples	1.06x - 4.42x (1.74x)
				Liquidation Value	N/A
			PWERM⁽⁵⁾	AFFO⁽⁴⁾multiple	8.62x -12.62x (10.94x)
Preferred stock in private companies	$	117,214,465	Market approach	Revenue multiples	0.47x - 5.45x (2.38x)
				Liquidation Value	N/A
			Discounted cash flow	Discount rate	15.0% (15.0%)
			PWERM⁽⁵⁾	Revenue multiples	1.17x - 1.26x
				DLOM	10.0% (10.0%)
				Financing Risk	10.0% (10.0%)
Debt investments	$	4,488,200	Market approach	Revenue multiples	0.47x - 5.45x (3.6x)
Options	$	3,469,497	Option pricing model	Term to expiration (Years)	1.00x - 5.29x (1.65x)
			Discounted cash flow	Discount Rate	15.0% (15.0%)

(1)	As of December 31, 2022, the Board used a hybrid market and income approach to value certain common and preferred stock investments as the Board felt this approach better reflected the fair value of these investments. In considering multiple valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to change from one period of measurement to the next; however, the weighting of each in determining the final fair value of a Level 3 investment may change based on recent events or transactions. The hybrid approach may also consider certain risk weightings to account for the uncertainty of future events. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
(2)	The Board considers all relevant information that can reasonably be obtained when determining the fair value of Level 3 investments. Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions, or liquidity events, the type and availability of unobservable inputs may change. Increases/(decreases) in revenue multiples, earnings before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher (lower) fair values, all else equal. Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in higher (lower) fair values, all else equal. The market approach utilizes market value (revenue and EBIT) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Company carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. In general, precedent transactions include recent rounds of financing, recent purchases made by the Company, and tender offers. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
(3)	The weighted averages are calculated based on the fair market value of each investment.
(4)	Adjusted Funds From Operations, or “AFFO”.
(5)	Probability-Weighted Expected Return Method, or “PWERM”.

SCHEDULE OF AGGREGATE VALUE OF ASSETS AND LIABILITIES

The aggregate values of Level 3 assets and liabilities changed during the six months ended June 30, 2023 as follows:

	Common Stock			Preferred Stock			Debt Investments			Options			Total
	Six Months Ended June 30, 2023
	Common Stock			Preferred Stock			Debt Investments			Options			Total
Assets:
Fair Value as of December 31, 2022	$	18,692,931		$	117,214,465		$	4,488,200		$	3,469,497		$	143,865,093
Purchases, capitalized fees and interest		10,008,075			2,004,171			998			501,470			12,514,714
Sales/Maturity of investments		(252,629	)		—			(500,000	)		—			(752,629	)
Exercises and conversions⁽¹⁾		3,751,518			(3,249,855	)		—			(501,663	)		—
Realized gains/(losses)		1,330,000			(10,914,376	)		—			(30,647	)		(9,615,023	)
Net change in unrealized appreciation/(depreciation) included in earnings		11,275,958			(8,145,056	)		(873,434	)		462,226			2,719,694
Fair Value as of June 30, 2023	$	44,805,853		$	96,909,349		$	3,115,764		$	3,900,883		$	148,731,849
Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of June 30, 2023	$	11,275,958		$	(19,059,432	)	$	(873,434	)	$	429,916		$	(8,226,992	)

(1)	During the six months ended June 30, 2023, the Company’s portfolio investments had the following corporate actions which are reflected above:

Portfolio Company		Conversion from		Conversion to
Orchard Technologies, Inc.		Preferred shares, Series D Simple Agreement for Future Equity		Senior Preferred shares, Series 1 Senior Preferred shares, Series 2 Class A Common Shares

The aggregate values of Level 3 assets and liabilities changed during the year ended December 31, 2022 as follows:

	Common Stock			Preferred Stock			Debt Investments			Options			Total
	Year Ended December 31, 2022
	Common Stock			Preferred Stock			Debt Investments			Options			Total
Assets:
Fair Value as of December 31, 2021	$	42,860,156		$	163,801,798		$	3,011,438		$	4,959,112		$	214,632,504
Fair value beginning balance	$	42,860,156		$	163,801,798		$	3,011,438		$	4,959,112		$	214,632,504
Transfers out of Level 3⁽¹⁾		(6,918,251	)		(1,775,506	)		—			(48,639	)		(8,742,396	)
Purchases, capitalized fees and interest		—			20,767,788			1,509,093			503,183			22,780,064
Sales/Maturity of investments		(874,470	)		—			(1,000,000	)		—			(1,874,470	)
Realized gains/(losses)		160,965			—			—			(70,379	)		90,586
Net change in unrealized appreciation/(depreciation) included in earnings		(16,535,469	)		(65,579,615	)		967,669			(1,873,780	)		(83,021,195	)
Fair Value as of December 31, 2022	$	18,692,931		$	117,214,465		$	4,488,200		$	3,469,497		$	143,865,093
Fair value ending balance	$	18,692,931		$	117,214,465		$	4,488,200		$	3,469,497		$	143,865,093
Net change in unrealized appreciation/ (depreciation) of Level 3 investments still held as of December 31, 2022	$	(7,023,165	)	$	(63,138,372	)	$	967,669		$	(1,624,324	)	$	(70,818,192	)

(1)	During the year ended December 31, 2022, the Company’s portfolio investments had the following corporate actions which are reflected above:

Portfolio Company		Conversion from		Conversion to
Forge Global, Inc.		Common Shares, Class AA Junior Preferred Shares Junior Preferred Warrants, Strike Price $12.42, Expiration Date 11/9/2025		Public Common shares (Level 2) Common warrants, Strike Price $3.98, Expiration Date 11/9/2025 (Level 2)

SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES

Transactions during the six months ended June 30, 2023 involving the Company’s controlled investments and non-controlled/affiliate investments were as follows:

Type/Industry/Portfolio Company/Investment	Principal/ Quantity		Interest, Fees, or Dividends Credited in Income		Fair Value at December 31, 2022			Realized Gains/(Losses)		Unrealized Gains/(Losses)			Fair Value at June 30, 2023		Percentage of Net Assets
*CONTROLLED INVESTMENTS⁽²⁾**
Options
Special Purpose Acquisition Company
Colombier Sponsor LLC**–Class W Units⁽⁷⁾		2,700,000	$	—	$	1,157,487	$	—		$	1,083,513		$	2,241,000		1.20	%
Total Options				—		1,157,487		—			1,083,513			2,241,000		1.20	%
Preferred Stock
Clean Technology
SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.)–Preferred shares, Class A⁽⁴⁾		14,300,000		—		984,028		—			(50,000	)		934,028		0.50	%
Total Preferred Stock				—		984,028		—			(50,000	)		934,028		0.50	%
Common Stock
Clean Technology
SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.)–Common shares		100,000		—		—		—			—			—		—	%
Mobile Finance Technology
Architect Capital PayJoy SPV, LLC–Membership Interest in Lending SPV*	$	10,000,000		554,425		10,000,000		—			—			10,000,000		5.36	%
Special Purpose Acquisition Company
Colombier Sponsor LLC**–Class B Units⁽⁷⁾		1,976,032		—		1,554,355		—			13,387,250			14,941,605		8.00	%
Total Common Stock				554,425		11,554,355		—			13,387,250			24,941,605		13.36	%
*TOTAL CONTROLLED INVESTMENTS⁽²⁾**			$	554,425	$	13,695,870	$	—		$	14,420,763		$	28,116,633		15.06	%
*NON-CONTROLLED/AFFILIATE INVESTMENTS⁽¹⁾**
Debt Investments
Global Innovation Platform
OneValley, Inc. (f/k/a NestGSV, Inc.) –Convertible Promissory Note 8%, Due 8/23/2024⁽³⁾	$	1,010,198	$	—	$	1,988,200	$	—		$	(1,027,809	)	$	960,391		0.51	%
Total Debt Investments				—		1,988,200		—			(1,027,809	)		960,391		0.51	%
Preferred Stock
Knowledge Networks
Maven Research, Inc.–Preferred shares, Series C		318,979		—		—		—			—			—		—	%
Maven Research, Inc.–Preferred shares, Series B		49,505		—		—		—			—			—		—	%
Total Knowledge Networks				—		—		—			—			—		—	%
Digital Media Platform
Ozy Media, Inc.–Preferred shares, Series C-2 6%⁽⁸⁾		—		—		—		(2,414,178	)		2,414,178			—		—	%
Ozy Media, Inc.–Preferred shares, Series B 6%⁽⁸⁾		—		—		—		(4,999,999	)		4,999,999			—		—	%
Ozy Media, Inc.–Preferred shares, Series A 6%⁽⁸⁾		—		—		—		(3,000,200	)		3,000,200			—		—	%
Ozy Media, Inc.–Preferred shares, Series Seed 6%⁽⁸⁾		—		—		—		(500,000	)		500,000			—		—	%
Total Digital Media Platform				—		—		(10,914,377	)		10,914,377			—		—	%
Interactive Learning
StormWind, LLC–Preferred shares, Series D 8%⁽⁵⁾		329,337		—		533,429		—			29,610			563,039		0.30	%
StormWind, LLC–Preferred shares, Series C 8%⁽⁵⁾		2,779,134		—		5,675,081		—			277,529			5,952,610		3.19	%
StormWind, LLC–Preferred shares, Series B 8%⁽⁵⁾		3,279,629		—		3,550,631		—			294,866			3,845,497		2.06	%
StormWind, LLC–Preferred shares, Series A 8%⁽⁵⁾		366,666		—		191,694		—			32,966			224,660		0.12	%
Total Interactive Learning				—		9,950,835		—			634,971			10,585,806		5.67	%
Total Preferred Stock				—		9,950,835		(10,914,377	)		11,549,348			10,585,806		5.67	%

Options
Digital Media Platform
Ozy Media, Inc.–Common Warrants, Strike Price $0.01, Expiration Date 4/9/2028⁽⁸⁾		—	$	—	$	—	$	(30,647	)	$	30,647		$	—		—	%
Global Innovation Platform
OneValley, Inc. (f/k/a NestGSV, Inc.)–Preferred Warrant Series B, Strike Price $2.31, Expiration Date 12/31/2023		250,000		—		—		—			—			—		—	%
OneValley, Inc. (f/k/a NestGSV, Inc.)–Derivative Security, Expiration Date 8/23/2024⁽⁶⁾		1		—		652,127		—			(652,127	)		—		—	%
Total Global Innovation Platform				—		652,127		—			(652,127	)		—		—	%
Total Options				—		652,127		(30,647	)		(621,480	)		—		—	%
Common Stock
Online Education
Curious.com, Inc.–Common shares		1,135,944		—		—		—			—			—		—	%
Total Common Stock				—		—		—			—			—		—	%
*TOTAL NON-CONTROLLED/AFFILIATE INVESTMENTS⁽¹⁾**			$	—	$	12,591,162	$	(10,945,025)		$	9,900,060		$	11,546,197		6.18	%

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

*	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).

**	Indicates assets that SuRo Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the 1940 Act. Of the Company’s total investments as of June 30, 2023, 20.76% of its total investments are non-qualifying assets.

***	Investment is income-producing.

(1)	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.

(2)	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company.

(3)	As of June 30, 2023, the investments noted had been placed on non-accrual status.

(4)	The SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) preferred shares held by SuRo Capital Corp. do not entitle SuRo Capital Corp. to a preferred dividend rate. SuRo Capital Corp. does not anticipate that SPBRX, INC. will pay distributions on a quarterly or regular basis or become a predictable distributor of distributions.

(5)	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.

(6)	On August 23, 2019, SuRo Capital Corp. amended the structure of its investment in OneValley, Inc. (f/k/a NestGSV, Inc.). As part of the agreement, SuRo Capital Corp.’s equity holdings (warrants notwithstanding) were restructured into a derivative security. OneValley, Inc. (f/k/a NestGSV, Inc.) has the right to call the position at any time over a five year period, ending August 23, 2024, while SuRo Capital Corp. can put the shares to OneValley, Inc. (f/k/a NestGSV, Inc.) at the end of the five year period.

(7)	Colombier Sponsor LLC is the sponsor of Colombier Acquisition Corp., a SPAC formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

(8)	On March 1, 2023, Ozy Media, Inc. suspended operations. On May 4, 2023, SuRo Capital Corp. abandoned its investment in Ozy Media, Inc.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Schedule of Investments In, and Advances to, Affiliates

Transactions during the year ended December 31, 2022 involving the Company’s controlled investments and non-controlled/affiliate investments were as follows:

Type/Industry/Portfolio Company/Investment	Principal/ Quantity		Interest, Fees, or Dividends Credited in Income		Fair Value at December 31, 2021		Transfer In/ (Out)		Purchases, Capitalized Fees, Interest and Amortization		Sales		Realized Gains/(Losses)			Unrealized Gains/(Losses)			Fair Value at December 31, 2022		Percentage of Net Assets
*CONTROLLED INVESTMENTS⁽²⁾**
Options
Special Purpose Acquisition Company
Colombier Sponsor LLC**–Class W Units⁽⁷⁾		2,700,000	$	—	$	1,157,487	$	—	$	—	$	—	$	—		$	—		$	1,157,487		0.55	%
Total Options				—		1,157,487		—		—		—		—			—			1,157,487		0.55	%
Preferred Stock
Clean Technology
SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.)–Preferred shares, Class A⁽⁴⁾		14,300,000		—		1,047,033		—		—		—		—			(63,005	)		984,028		0.47	%
Total Preferred Stock				—		1,047,033		—		—		—		—			(63,005	)		984,028		0.47	%
Common Stock
Clean Technology
SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.)–Common shares		100,000		—		—		—		—		—		—			—			—		—	%
Mobile Finance Technology
Architect Capital PayJoy SPV, LLC–Membership Interest in Lending SPV*	$	10,000,000		1,685,000		10,000,000		—		—		—		—			—			10,000,000		4.76	%
Special Purpose Acquisition Company
Colombier Sponsor LLC**–Class B Units⁽⁷⁾		1,976,033		—		1,554,354		—		—		—		—			1			1,554,355		0.74	%
Total Common Stock				1,685,000		11,554,354		—		—		—		—			1			11,554,355		5.50	%
*TOTAL CONTROLLED INVESTMENTS⁽²⁾**			$	1,685,000	$	13,758,874	$	—	$	—	$	—	$	—		$	(63,004	)	$	13,695,870		6.52	%
*NON-CONTROLLED/AFFILIATE INVESTMENTS⁽¹⁾**
Debt Investments
Global Innovation Platform
OneValley, Inc. (f/k/a NestGSV, Inc.) –Convertible Promissory Note 8%, Due 8/23/2024⁽³⁾	$	1,010,198	$	—	$	505,099	$	—	$	—	$	—	$	—		$	1,483,101		$	1,988,200		0.95	%
Total Debt Investments				—		505,099		—		—		—		—			1,483,101			1,988,200		0.95	%
Preferred Stock
Knowledge Networks
Maven Research, Inc.–Preferred shares, Series C		318,979		—		—		—		—		—		—			—			—		—	%
Maven Research, Inc.–Preferred shares, Series B		49,505		—		—		—		—		—		—			—			—		—	%
Total Knowledge Networks				—		—		—		—		—		—			—			—		—	%
Digital Media Platform
Ozy Media, Inc.–Preferred shares, Series C-2 6%		683,482		—		—		—		—				—			—			—		—	%
Ozy Media, Inc.–Preferred shares, Series B 6%		922,509		—		—		—		—		—		—			—			—		—	%
Ozy Media, Inc.–Preferred shares, Series A 6%		1,090,909		—		—		—		—		—		—			—			—		—	%
Ozy Media, Inc.–Preferred shares, Series Seed 6%		500,000		—		—		—		—		—		—			—			—		—	%
Total Digital Media Platform				—		—		—		—		—		—			—			—		—	%
Interactive Learning
StormWind, LLC–Preferred shares, Series D 8%⁽⁵⁾		329,337		—		621,093		—		—				—			(87,664	)		533,429		0.25	%
StormWind, LLC–Preferred shares, Series C 8%⁽⁵⁾		2,779,134		—		6,496,729		—		—		—		—			(821,648	)		5,675,081		2.70	%
StormWind, LLC–Preferred shares, Series B 8%⁽⁵⁾		3,279,629		—		4,423,607		—		—		—		—			(872,976	)		3,550,631		1.69	%
StormWind, LLC–Preferred shares, Series A 8%⁽⁵⁾		366,666		—		289,293		—		—		—		—			(97,599	)		191,694		0.09	%
Total Interactive Learning				—		11,830,722		—		—		—		—			(1,879,887	)		9,950,835		4.74	%
Total Preferred Stock				—		11,830,722		—		—		—		—			(1,879,887	)		9,950,835		4.74	%
Options
Digital Media Platform
Ozy Media, Inc.–Common Warrants, Strike Price $0.01, Expiration Date 4/9/2028		295,565	$	—	$	—	$	—	$	—	$	—	$	—		$	—		$	—		—	%
Global Innovation Platform
OneValley, Inc. (f/k/a NestGSV, Inc.)–Preferred Warrant Series B, Strike Price $2.31, Expiration Date 5/29/2022		—		—		—		—		—		—		(70,379	)		70,379			—		—	%
OneValley, Inc. (f/k/a NestGSV, Inc.)–Preferred Warrant Series B, Strike Price $2.31, Expiration Date 12/31/2023		250,000		—		5,000		—		—		—		—			(5,000	)		—		—	%
OneValley, Inc. (f/k/a NestGSV, Inc.)–Derivative Security, Expiration Date 8/23/2024⁽⁶⁾		1		—		2,268,268		—		—		—		—			(1,616,141	)		652,127		0.31	%
Total Global Innovation Platform				—		2,273,268		—		—				(70,379	)		(1,550,762	)		652,127		0.31	%
Total Options				—		2,273,268		—		—		—		(70,379	)		(1,550,762	)		652,127		0.31	%
Common Stock
Online Education
Curious.com, Inc.–Common shares		1,135,944		—		—		—		—		—		—			—			—		—	%
Total Common Stock				—		—		—		—		—		—			—			—		—	%
*TOTAL NON-CONTROLLED/AFFILIATE INVESTMENTS⁽¹⁾**			$	—	$	14,609,089	$	—	$	—	$	—	$	(70,379	)	$	(1,947,548	)	$	12,591,162		6.00	%

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

*	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).

**	Indicates assets that SuRo Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the 1940 Act. Of the Company’s total investments as of December 31, 2022, 14.47% of its total investments are non-qualifying assets.

***	Investment is income-producing.

(1)	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.

(2)	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company.

(3)	As of December 31, 2022, the investments noted had been placed on non-accrual status.

(4)	The SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) preferred shares held by SuRo Capital Corp. do not entitle SuRo Capital Corp. to a preferred dividend rate. SuRo Capital Corp. does not anticipate that SPBRX, INC. will pay distributions on a quarterly or regular basis or become a predictable distributor of distributions.

(5)	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.

(6)	On August 23, 2019, SuRo Capital Corp. amended the structure of its investment in OneValley, Inc. (f/k/a NestGSV, Inc.). As part of the agreement, SuRo Capital Corp.’s equity holdings (warrants notwithstanding) were restructured into a derivative security. OneValley, Inc. (f/k/a NestGSV, Inc.) has the right to call the position at any time over a five year period, ending August 23, 2024, while SuRo Capital Corp. can put the shares to OneValley, Inc. (f/k/a NestGSV, Inc.) at the end of the five year period.

(7)	Colombier Sponsor LLC is the sponsor of Colombier Acquisition Corp., a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

SUBSEQUENT EVENTS (Details Narrative) - USD ($)			3 Months Ended
SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Aug. 08, 2023	Aug. 07, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2022
Subsequent Event [Line Items]
Common stock shares authorized			100,000,000				100,000,000
Stock repurchased during period value			$ 13,500,000		$ 6,892,934	$ 1,359,607
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock shares authorized		5,000,000.0
Stock repurchased during period value	$ 21,400,000	$ 60,000,000.0

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Condensed Consolidated Schedule of Investments (Unaudited)

Jun. 30, 2023

USD ($)

$ 160,283,146

85.90%

$ 284,571,254

^[1]

$ 236,178,680

^[1]

126.51%

^[1]

Skillsoft Corp. [Member]

Churchill Sponsor VII LLC [Member]

$ 1,217,485

AltC Sponsor LLC [Member]

300,000

Churchill Sponsor VI LLC [Member]

250,000

Colombier Sponsor LLC [Member]

200,000

Architect Capital PayJoy SPV, LLC [Member]

17,182,605

Non-Controlled/Non-Affiliate [Member]

10,000,000

159,012,912

^[1]

$ 120,620,316

^[1]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member]

64.61%

^[1]

$ 14,999,972

^[1]

$ 32,545,589

^[1]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Preferred shares, Series A 8% [Member]

17.43%

^[1]

Online Education

^[1]

Sep. 18, 2014

^[1]

2,145,509

^[1]

$ 5,000,001

^[1]

$ 22,545,618

^[1]

Non-Controlled/Non-Affiliate [Member] | Learneo, Inc. (f/k/a Course Hero, Inc.) [Member] | Preferred shares, Series C 8% [Member]

12.08%

^[1]

Nov. 05, 2021

^[1]

275,659

^[1]

$ 9,999,971

^[1]

$ 9,999,971

^[1]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member]

5.36%

^[1]

$ 15,004,340

^[1]

$ 11,692,831

^[1]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series A Preferred Stock [Member]

6.26%

^[1]

Pharmaceutical Technology

^[1]

Oct. 27, 2020

^[1]

238,095

^[1]

$ 5,000,423

^[1]

$ 1,692,856

^[1]

Non-Controlled/Non-Affiliate [Member] | Blink Health, Inc. [Member] | Series C Preferred Stock [Member]

0.91%

^[1]

Oct. 27, 2020

^[1]

261,944

^[1]

$ 10,003,917

^[1]

$ 9,999,975

^[1]

Non-Controlled/Non-Affiliate [Member] | Locus Robotics Corp [Member] | Series F Preferred Stock [Member]

5.36%

^[1]

Warehouse Automation

^[1]

Nov. 30, 2022

^[1]

232,568

^[1]

$ 10,004,286

^[1]

$ 10,008,042

^[1]

Non-Controlled/Non-Affiliate [Member] | ServiceTitan, Inc [Member] | Common Stock [Member]

5.36%

^[1]

Contractor Management Software

^[1]

Jun. 30, 2023

^[1]

151,515

^[1]

$ 10,008,075

^[1]

$ 9,999,990

^[1]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member]

5.36%

^[1]

$ 12,509,393

^[1],[2]

$ 9,014,642

^[1],[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Common Stock [Member]

4.83%

^[1],[2]

Aug. 09, 2021

^[1],[2]

558,053

^[1],[2]

$ 3,751,518

^[1],[2]

^[1],[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Series D Preferred Stock [Member]

^[1],[2]

Real Estate Platform

^[1],[2]

Aug. 09, 2021

^[1],[2]

558,053

^[1],[2]

$ 3,751,518

^[1],[2]

^[1],[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Senior Preferred Shares, Series 2 [Member]

^[1],[2]

Aug. 09, 2021

^[1],[2]

58,771

^[1],[2]

$ 587,951

^[1],[2]

^[1],[2]

Non-Controlled/Non-Affiliate [Member] | Orchard Technologies, Inc. [Member] | Senior Preferred Shares, Series 1 [Member]

^[1],[2]

Jan. 13, 2023

^[1],[2]

441,228

^[1],[2]

$ 4,418,406

^[1],[2]

$ 9,014,642

^[1],[2]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member]

4.83%

^[1],[2]

$ 7,503,318

^[1]

$ 7,655,365

^[1]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred shares, Series B-1 [Member]

4.10%

^[1]

Home Improvement Finance

^[1]

Feb. 26, 2021

^[1]

436,844

^[1]

$ 3,501,657

^[1]

$ 3,499,994

^[1]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Preferred shares, Series B-2 [Member]

1.87%

^[1]

Feb. 26, 2021

^[1]

301,750

^[1]

$ 3,501,661

^[1]

$ 3,499,998

^[1]

Non-Controlled/Non-Affiliate [Member] | Shogun Enterprises, Inc. (d/b/a Hearth) [Member] | Convertible Note 0.5%, Due 4/18/2024 [Member]

1.87%

^[1]

May 02, 2022

^[1],[3]

500,000

^[1],[3]

$ 500,000

^[1],[3]

$ 655,373

^[1],[3]

Non-Controlled/Non-Affiliate [Member] | Forge Global, Inc.[Member] | Common Stock [Member]

0.35%

^[1],[3]

Online Marketplace Finance

^[1],[4],[5]

Jul. 20, 2011

^[1],[4],[5]

2,508,074

^[1],[4],[5]

$ 3,443,483

^[1],[4],[5]

$ 6,094,620

^[1],[4],[5]

Non-Controlled/Non-Affiliate [Member] | True Global Ventures 4 Plus Pte Ltd [Member] | Limited Partner Fund Investment [Member]

3.26%

^[1],[4],[5]

Venture Investment Fund

^[1],[5],[6]

Aug. 27, 2021

^[1],[5],[6]

^[1],[5],[6]

$ 1,077,371

^[1],[5],[6]

$ 4,081,077

^[1],[5],[6]

Non-Controlled/Non-Affiliate [Member] | Varo Money, Inc [Member] | Common Stock [Member]

2.19%

^[1],[5],[6]

Financial Services

^[1],[5]

Aug. 11, 2021

^[1],[5]

1,079,266

^[1],[5]

$ 10,005,548

^[1],[5]

$ 3,776,219

^[1],[5]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member]

2.02%

^[1],[5]

$ 1,283,005

^[1]

$ 3,689,833

^[1]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member] | Series A Preferred Stock [Member]

1.98%

^[1]

Financial Services

^[1]

Aug. 11, 2015

^[1]

540,270

^[1]

$ 1,001,815

^[1]

$ 3,473,594

^[1]

Non-Controlled/Non-Affiliate [Member] | Aspiration Partners, Inc. [Member] | Series C-3 Preferred Stock [Member]

1.86%

^[1]

Aug. 12, 2019

^[1]

24,912

^[1]

$ 281,190

^[1]

$ 216,239

^[1]

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member]

0.12%

^[1]

$ 2,000,000

^[1]

$ 3,370,381

^[1]

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member] | Series A Preferred Stock [Member]

1.81%

^[1]

Real Estate Platform

^[1],[7]

Dec. 23, 2020

^[1],[7]

150,000

^[1],[7]

$ 1,500,000

^[1],[7]

$ 2,870,381

^[1],[7]

Non-Controlled/Non-Affiliate [Member] | Residential Homes for Rent, LLC (d/b/a Second Avenue) [Member] | Term loan 15%, Due 12/23/2023 [Member]

1.54%

^[1],[7]

Dec. 23, 2020

^[1],[3],[8]

500,000

^[1],[3],[8]

$ 500,000

^[1],[3],[8]

$ 500,000

^[1],[3],[8]

Non-Controlled/Non-Affiliate [Member] | Whoop, Inc. [Member] | Series C Preferred Stock [Member]

0.27%

^[1],[3],[8]

Fitness Technology

^[1]

Jun. 30, 2022

^[1]

13,293,450

^[1]

$ 10,011,460

^[1]

$ 3,308,740

^[1]

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member]

1.77%

^[1]

$ 3,003,040

^[1]

$ 3,000,002

^[1]

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Preferred Stock [Member]

1.61%

^[1]

Mobile Access Technology

^[1]

Jul. 23, 2021

^[1]

244,117

^[1]

$ 2,501,570

^[1]

$ 2,500,002

^[1]

Non-Controlled/Non-Affiliate [Member] | PayJoy, Inc. [Member] | Simple Agreement for Future Equity [Member]

1.34%

^[1]

May 25, 2023

^[1]

^[1]

$ 501,470

^[1]

$ 500,000

^[1]

Non-Controlled/Non-Affiliate [Member] | Nextdoor Holdings, Inc. [Member] | Common Class B [Member]

0.27%

^[1]

Social Networking

^[1],[4],[5]

Sep. 27, 2018

^[1],[4],[5]

852,416

^[1],[4],[5]

$ 4,678,896

^[1],[4],[5]

$ 2,778,876

^[1],[4],[5]

Non-Controlled/Non-Affiliate [Member] | NewLake Capital Partners, Inc (f/k/a GreenAcreage Real Estate Corp.) [Member] | Common Stock [Member]

1.49%

^[1],[4],[5]

Cannabis REIT

^{[1],[3],[4],[5]}

Aug. 12, 2019

^{[1],[3],[4],[5]}

105,820

^{[1],[3],[4],[5]}

$ 2,198,836

^{[1],[3],[4],[5]}

$ 1,460,316

^{[1],[3],[4],[5]}

Non-Controlled/Non-Affiliate [Member] | Aventine Property Group, Inc [Member] | Common Stock [Member]

0.78%

^{[1],[3],[4],[5]}

Cannabis REIT

^[1],[3]

Sep. 11, 2019

^[1],[3]

312,500

^[1],[3]

$ 2,580,750

^[1],[3]

$ 1,363,844

^[1],[3]

Non-Controlled/Non-Affiliate [Member] | Skillsoft Corp. [Member] | Common Stock [Member]

0.73%

^[1],[3]

Online Education

^[1],[4],[5]

Jun. 08, 2021

^[1],[4],[5]

981,843

^[1],[4],[5]

$ 9,818,430

^[1],[4],[5]

$ 1,217,485

^[1],[4],[5]

Non-Controlled/Non-Affiliate [Member] | Commercial Streaming Solutions Inc. (d/b/a BettorView) [Member] | Simple Agreement for Future Equity [Member]

0.65%

^[1],[4],[5]

Interactive Media & Services

^[1],[9]

Mar. 26, 2021

^[1],[9]

^[1],[9]

$ 1,004,240

^[1],[9]

$ 1,000,000

^[1],[9]

Non-Controlled/Non-Affiliate [Member] | Xgroup Holdings Limited (d/b/a Xpoint) [Member] | Convertible Note 6%, Due 8/17/2023 [Member]

0.54%

^[1],[9]

Geolocation Technology

^{[1],[3],[5],[9]}

Aug. 17, 2022

^{[1],[3],[5],[9]}

1,000,000

^{[1],[3],[5],[9]}

$ 1,010,091

^{[1],[3],[5],[9]}

$ 1,000,000

^{[1],[3],[5],[9]}

Non-Controlled/Non-Affiliate [Member] | Rebric, Inc. [Member] | Preferred Stock Series Seed-4 [Member]

0.54%

^{[1],[3],[5],[9]}

Gaming Licensing

^[1],[9]

Oct. 12, 2021

^[1],[9]

2,477,585

^[1],[9]

$ 1,003,227

^[1],[9]

$ 822,937

^[1],[9]

Non-Controlled/Non-Affiliate [Member] | YouBet Technology, Inc. [Member] | Preferred Stock Series Seed 2 [Member]

0.44%

^[1],[9]

Digital Media Technology

^[1],[9]

Aug. 26, 2021

^[1],[9]

578,029

^[1],[9]

$ 752,943

^[1],[9]

$ 749,998

^[1],[9]

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member]

0.40%

^[1],[9]

$ 10,005,748

^[1],[5]

$ 686,528

^[1],[5]

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Common Stock [Member]

0.37%

^[1],[5]

Retail Technology

^[1],[5]

Jun. 09, 2021

^[1],[5]

55,591

^[1],[5]

$ 2,781,148

^[1],[5]

^[1],[5]

Non-Controlled/Non-Affiliate [Member] | Trax Ltd. [Member] | Preferred Stock Investec Series [Member]

^[1],[5]

Jun. 09, 2021

^[1],[5]

144,409

^[1],[5]

$ 7,224,600

^[1],[5]

$ 686,528

^[1],[5]

Non-Controlled/Non-Affiliate [Member] | EDGE Markets, Inc. [Member] | Preferred Stock, Series Seed [Member]

0.37%

^[1],[5]

Gaming Technology

^[1],[9]

May 18, 2022

^[1],[9]

456,704

^[1],[9]

$ 501,330

^[1],[9]

$ 500,000

^[1],[9]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member]

0.27%

^[1],[9]

$ 300,000

^[1],[5],[10]

$ 300,000

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member] | Common Stock [Member]

0.16%

^[1],[5],[10]

Special Purpose Acquisition Company

^[1],[5],[10]

Feb. 25, 2021

^[1],[5],[10]

292,100

^[1],[5],[10]

$ 205,820

^[1],[5],[10]

$ 205,820

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VII LLC [Member] | Warrant [Member]

0.11%

^[1],[5],[10]

Feb. 25, 2021

^[1],[5],[10]

277,000

^[1],[5],[10]

$ 94,180

^[1],[5],[10]

$ 94,180

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | AltC Sponsor LLC [Member] | Share Units [Member]

0.05%

^[1],[5],[10]

Special Purpose Acquisition Company

^[1],[5],[10]

Jul. 21, 2021

^[1],[5],[10]

239,300

^[1],[5],[10]

$ 250,855

^[1],[5],[10]

$ 250,000

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member]

0.13%

^[1],[5],[10]

$ 200,000

^[1],[5],[10]

$ 200,000

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member] | Common Stock [Member]

0.11%

^[1],[5],[10]

Special Purpose Acquisition Company

^[1],[5],[10]

Feb. 25, 2021

^[1],[5],[10]

195,000

^[1],[5],[10]

$ 134,297

^[1],[5],[10]

$ 134,297

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Churchill Sponsor VI LLC [Member] | Warrant [Member]

0.07%

^[1],[5],[10]

Feb. 25, 2021

^[1],[5],[10]

199,100

^[1],[5],[10]

$ 65,703

^[1],[5],[10]

$ 65,703

^[1],[5],[10]

Non-Controlled/Non-Affiliate [Member] | Kinetiq Holdings LLC [Member] | Common Class A [Member]

0.04%

^[1],[5],[10]

Social Data Platform

^[1]

Mar. 30, 2012

^[1]

112,374

^[1]

^[1]

$ 53,001

^[1]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member]

0.03%

^[1]

$ 10,513,661

^[1]

^[1]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Stock Series 1-D [Member]

^[1]

Micromobility

^[1]

Jan. 25, 2019

^[1]

41,237,113

^[1]

$ 10,007,322

^[1]

^[1]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Junior Preferred Convertible Note 4% Due 5/11/2027 [Member]

^[1]

May 11, 2020

^[1],[11]

506,339

^[1],[11]

$ 506,339

^[1],[11]

^[1],[11]

Non-Controlled/Non-Affiliate [Member] | Neutron Holdings, Inc. (d/b/a/ Lime) [Member] | Common Warrants Strike Price $0.01 Expiration Date 5/11/2027 [Member]

^[1],[11]

May 11, 2020

^[1]

2,032,967

^[1]

^[1]

^[1]

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member]

^[1]

$ 8,421,364

^[1]

^[1]

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Promissory Note 1.47%, Due 11/9/2021 [Member]

^[1]

Mar. 03, 2016

^{[1],[11],[12]}

2,270,458

^{[1],[11],[12]}

$ 2,270,858

^{[1],[11],[12]}

^{[1],[11],[12]}

Non-Controlled/Non-Affiliate [Member] | Fullbridge, Inc. [Member] | Common Stock [Member]

^{[1],[11],[12]}

Business Education

^[1]

May 13, 2012

^[1]

517,917

^[1]

$ 6,150,506

^[1]

^[1]

Non-Controlled/Non-Affiliate [Member] | Treehouse Real Estate Investment Trust, Inc. [Member] | Common Stock [Member]

^[1]

Cannabis REIT

^[1]

Sep. 11, 2019

^[1]

312,500

^[1]

$ 4,919,250

^[1]

^[1]

Non-Controlled Affiliate [Member]

^[1]

$ 30,195,780

^[1],[13]

$ 11,546,197

^[1],[13]

Non-Controlled Affiliate [Member] | StormWind, LLC [Member]

6.18%

^[1],[13]

$ 6,387,741

^[1]

$ 10,585,806

^[1]

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series D 8% [Member]

5.67%

^[1]

Interactive Learning

^{[1],[13],[14]}

Nov. 26, 2019

^{[1],[13],[14]}

329,337

^{[1],[13],[14]}

$ 257,267

^{[1],[13],[14]}

$ 563,039

^{[1],[13],[14]}

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series C 8% [Member]

0.30%

^{[1],[13],[14]}

Jan. 07, 2014

2,779,134

$ 4,000,787

$ 5,952,610

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series B 8% [Member]

3.19%

Dec. 16, 2011

3,279,629

$ 2,019,687

$ 3,845,497

Non-Controlled Affiliate [Member] | StormWind, LLC [Member] | Preferred Shares Series A 8% [Member]

2.06%

Feb. 25, 2014

366,666

$ 110,000

$ 224,660

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member]

0.12%

$ 9,590,380

$ 960,391

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Derivative Security, Expiration Date 8/23/2024 [Member]

0.51%

Global Innovation Platform

Aug. 23, 2019

$ 8,555,124

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Convertible Promissory Note 8% Due 8/23/2024 [Member]

Feb. 17, 2016

^{[1],[11],[13]}

1,010,198

^{[1],[11],[13]}

$ 1,030,176

^{[1],[11],[13]}

$ 960,391

^{[1],[11],[13]}

Non-Controlled Affiliate [Member] | OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Preferred Warrant Series B, Strike Price $2.31, Expiration Date 12/31/2023 [Member]

0.51%

^{[1],[11],[13]}

Dec. 31, 2018

250,000

$ 5,080

Non-Controlled Affiliate [Member] | Maven Research Inc [Member]

$ 2,217,653

^[1]

^[1]

Non-Controlled Affiliate [Member] | Maven Research Inc [Member] | Series C Preferred Stock [Member]

^[1]

Knowledge Networks

Jul. 02, 2012

318,979

$ 2,000,447

Non-Controlled Affiliate [Member] | Maven Research Inc [Member] | Series B Preferred Stock [Member]

Feb. 28, 2012

49,505

$ 217,206

Non-Controlled Affiliate [Member] | Curious.Com Inc [Member] | Common Stock [Member]

Online Education

Nov. 22, 2013

1,135,944

$ 12,000,006

Controlled [Member]

$ 19,883,894

^[1],[15]

$ 28,116,633

^[1],[15]

Controlled [Member] | Colombier Sponsor LLC [Member]

15.06%

^[1],[15]

$ 2,715,737

$ 17,182,605

Controlled [Member] | Colombier Sponsor LLC [Member] | Class B Units [Member]

9.20%

Special Purpose Acquisition Company

Apr. 01, 2021

1,976,032

$ 1,556,587

$ 14,941,605

Controlled [Member] | Colombier Sponsor LLC [Member] | Class W Units [Member]

8.00%

Apr. 01, 2021

2,700,000

$ 1,159,150

$ 2,241,000

Controlled [Member] | Architect Capital PayJoy SPV, LLC [Member] | Membership Interest in Lending SPV [Member]

1.20%

Mobile Finance Technology

Mar. 24, 2021

10,000,000

$ 10,006,745

$ 10,000,000

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member]

5.36%

$ 7,161,412

$ 934,028

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member] | Common Stock [Member]

0.50%

Apr. 15, 2014

100,000

$ 10,000

Controlled [Member] | SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) [Member] | Preferred Class A [Member]

Clean Technology

Apr. 15, 2014

14,300,000

$ 7,151,412

$ 934,028

Portfolio Investments [Member]

0.50%

$ 209,092,586

^[1]

$ 160,283,146

^[1]

US Treasury Bill One [Member]

85.85%

^[1]

Dec. 29, 2022

56,605,000

$ 55,488,452

$ 55,898,163

US Treasury Bill Two [Member]

29.94%

Mar. 30, 2023

^[1],[4]

20,529,000

^[1],[4]

$ 19,990,216

^[1],[4]

$ 19,997,371

^[1],[4]

U S. Treasury Bill [Member]

10.71%

^[1],[4]

$ 75,478,668

^[1]

$ 75,895,534

^[1]

Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]

40.65%

^[1]

[1]	All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[2]	On January 13, 2023, SuRo Capital Corp. invested $2.0 million in Orchard Technologies, Inc.’s Series 1 Senior Preferred financing round. As part of the transaction, SuRo Capital Corp. exchanged a portion of its existing Series D Preferred shares investment for Series 1 Senior Preferred shares, Series 2 Senior Preferred shares, and Common shares. Additionally, SuRo Capital Corp.’s previous investment in the Simple Agreement for Future Equity was converted into additional Series 1 Senior Preferred shares.
[3]	Investment is income-producing.
[4]	Denotes an investment considered Level 1 or Level 2 and valued using observable inputs. Refer to “Note 4—Investments at Fair Value”.
[5]	Indicates assets that SuRo Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Of the Company’s total investments as of June 30, 2023,
[6]	SuRo Capital Corp.’s investments in True Global Ventures 4 Plus Pte Ltd are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SVDS Holdings, Inc. As of March 31, 2023, the previously unfunded capital commitment of $1.3 million was deemed fully contributed in lieu of cash distributions. As of March 31, 2023, the full $2.0 million capital commitment to True Global Ventures 4 Plus Fund LP had been called and funded.
[7]	SuRo Capital Corp.’s investments in preferred shares of Residential Homes for Rent, LLC (d/b/a Second Avenue) are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC AV Holdings, Inc.
[8]	During the six months ended June 30, 2023, approximately $0.6 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, approximately $0.5 million repaid a portion of the outstanding principal and the remaining was attributed to interest.
[9]	SuRo Capital Corp.’s investments in Commercial Streaming Solutions Inc. (d/b/a BettorView), YouBet Technology, Inc. (d/b/a FanPower), Rebric, Inc. (d/b/a Compliable), EDGE Markets, Inc., and Xgroup Holdings Limited (d/b/a Xpoint) are held through SuRo Capital Corp.’s wholly owned subsidiary, SuRo Capital Sports, LLC (“SuRo Sports”).
[10]	Denotes an investment that is the sponsor of a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
[11]	As of June 30, 2023, the investments noted had been placed on non-accrual status.
[12]	On November 9, 2021, Fullbridge, Inc.’s obligations under its financing arrangements with the Company became past due.
[13]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.
[14]	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[15]	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company. For the Schedule of Investments In, and Advances To, Affiliates, as required by SEC Regulation S-X, Rule 12-14, refer to “Note 4—Investments at Fair Value”.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash Flows from Operating Activities
Net change in net assets resulting from operations	$ (15,620,024)	$ 4,616,509	$ (94,339,688)	$ 20,456,455	$ (11,003,515)	$ (73,883,233)
Adjustments to reconcile net change in net assets resulting from operations to net cash used in operating activities:
Net realized (gain)/loss on investments					13,080,856	(1,130,050)
Net change in unrealized (appreciation)/depreciation of investments	(1,455,515)	(8,648,931)	88,562,575	(21,584,885)	(10,104,446)	66,977,690
Amortization of discount on 6.00% Notes due 2026					142,894	211,033
Stock-based compensation					1,175,537	673,550
Adjustments to escrow proceeds receivable					211,918	179,134
Accrued interest on U.S. Treasury bills					(385,692)
Purchases of investments in:
Portfolio investments					(12,514,713)	(11,008,515)
U.S. Treasury bills					(141,793,045)
Proceeds from sales or maturity of investments in:
Portfolio investments					6,257,861	5,051,279
U.S. Treasury bills					151,313,976
Change in operating assets and liabilities:
Prepaid expenses and other assets					241,835	349,485
Interest and dividends receivable					19,218	(72,982)
Proceeds receivable					(664,470)	(3,450)
Escrow proceeds receivable					252,367	41,626
Accounts payable and accrued expenses					1,802,373	1,830,782
Accrued interest payable						(162,500)
Net Cash Used in Operating Activities					(1,967,046)	(10,946,151)
Cash Flows from Financing Activities
Proceeds from the issuance of common stock, net						229,896
Repurchases of common stock					(13,500,000)	(8,252,541)
Cash dividends paid					(107,823)	(26,481,943)
Deferred financing costs						(1,540)
Net Cash Used in Financing Activities					(13,607,823)	(34,506,128)
Total Decrease in Cash Balance					(15,574,869)	(45,452,279)
Cash Balance at Beginning of Year		$ 40,117,598		$ 198,437,078	40,117,598	198,437,078	$ 198,437,078
Cash Balance at End of Period	$ 24,542,729		$ 152,984,799		24,542,729	152,984,799	$ 40,117,598
Supplemental Information:
Interest paid					2,250,000	2,412,500
Taxes paid					$ 530,556	$ 7,569

INCOME TAXES (Details Narrative)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Investment gain percent

^[1]

(7.44%)

(3.48%)

(7.81%)

(4.18%)

Nondeductible excise tax, percent

4.00%

Income tax, description

(1) 98% of our ordinary income (taking into account certain deferrals and elections) for each calendar year, (2) 98.2% of our capital gain net income (adjusted for certain ordinary losses) for the 1-year period ending October 31 of each such calendar year and (3) any ordinary income and net capital gains for preceding years, but not distributed during such years and on which the Company paid no U.S. federal income tax.

Minimum [Member]

Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]

Investment gain percent

90.00%

[1]

Financial highlights for periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.

COMMON STOCK

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

COMMON STOCK

NOTE 5—COMMON STOCK

Share Repurchase Program

On August 8, 2017, the Company announced a $5.0 million discretionary open-market share repurchase program of shares of the Company’s common stock, $0.01 par value per share, of up to $5.0 million until the earlier of (i) August 6, 2018 or (ii) the repurchase of $5.0 million in aggregate amount of the Company’s common stock (the “Share Repurchase Program”). On November 7, 2017, the Company’s Board of Directors authorized an extension of, and an increase in the amount of shares of the Company’s common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) November 6, 2018 or (ii) the repurchase of $10.0 million in aggregate amount of the Company’s common stock. On May 3, 2018, the Company’s Board of Directors authorized a $5.0 million increase in the amount of shares of the Company’s common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) November 6, 2018 or (ii) the repurchase of $15.0 million in aggregate amount of the Company’s common stock. On November 1, 2018, our Board of Directors authorized a $5.0 million increase in the amount of shares of our common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) October 31, 2019 or (ii) the repurchase of $20.0 million in aggregate amount of our common stock. On August 5, 2019, our Board of Directors authorized a $5.0 million increase in the amount of shares of our common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) August 4, 2020 or (ii) the repurchase of $25.0 million in aggregate amount of our common stock. On March 9, 2020, our Board of Directors authorized a $5.0 million increase in the amount of shares of our common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) March 8, 2021 or (ii) the repurchase of $30.0 million in aggregate amount of our common stock. On October 28, 2020, our Board of Directors authorized a $10.0 million increase in the amount of shares of our common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) October 31, 2021 or (ii) the repurchase of $40.0 million in aggregate amount of our common stock. On October 27, 2021, our Board of Directors approved an extension of the Share Repurchase Program until the earlier of (i) October 31, 2022 or (ii) the repurchase of $40.0 million in aggregate amount of our common stock. On March 13, 2022, our Board of Directors authorized a $15.0 million increase in the amount of shares of our common stock that may be repurchased under the discretionary Share Repurchase Program until the earlier of (i) October 31, 2022 or (ii) the repurchase of $55.0 million in aggregate amount of our common stock. On October 19, 2022, the Company’s Board of Directors approved an extension of the Share Repurchase Program until the earlier of (i) October 31, 2023 or (ii) the repurchase of $55.0 million in aggregate amount of the Company’s common stock.

The timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. The Share Repurchase Program may be suspended, terminated or modified at any time for any reason and does not obligate the Company to acquire any specific number of shares of its common stock. Under the Share Repurchase Program, the Company may repurchase its outstanding common stock in the open market provided that it complies with the prohibitions under its insider trading policies and procedures and the applicable provisions of the 1940 Act and the Exchange Act.

During the three and six months ended June 30, 2023, the Company did not repurchase any shares of the Company’s common stock under the Share Repurchase Program. During the three and six months ended June 30, 2022, the Company repurchased 855,159 and 1,008,676 shares of the Company’s common stock under the Share Repurchase Program. As of June 30, 2023, the dollar value of shares that remained available to be purchased by the Company under the Share Repurchase Program was approximately $16.4 million.

Modified Dutch Auction Tender Offer

On March 17, 2023, the Company commenced a modified “Dutch Auction” tender offer (the “Modified Dutch Auction Tender Offer”) to purchase up to 3,000,000 shares of its common stock from its stockholders, which expired on April 17, 2023. In accordance with the terms of the Modified Dutch Auction Tender Offer, the Company selected the lowest price per share of not less than $3.00 per share and not greater than $4.50 per share.

Pursuant to the Modified Dutch Auction Tender Offer, the Company repurchased 3,000,000 shares, representing 10.6% of its outstanding shares, on or about April 21, 2023 at a price of $4.50 per share. The Company used available cash to fund the purchase of its shares of common stock in the Modified Dutch Auction Tender Offer and to pay for all related fees and expenses.

Amended and Restated 2019 Equity Incentive Plan

Refer to “Note 11—Stock-Based Compensation” for a description of the Company’s restricted shares of common stock granted under the Amended & Restated 2019 Equity Incentive Plan (as defined therein).

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

At-the-Market Offering

On July 29, 2020, the Company entered into an At-the-Market Sales Agreement, dated July 29, 2020 (the “Initial Sales Agreement”), with BTIG, LLC, JMP Securities LLC and Ladenburg Thalmann & Co., Inc. (collectively, the “Agents”). Under the Initial Sales Agreement, the Company may, but has no obligation to, issue and sell up to $50.0 million in aggregate amount of shares of its common stock (the “Shares”) from time to time through the Agents or to them as principal for their own account (the “ATM Program”). On September 23, 2020, the Company increased the maximum amount of Shares to be sold through the ATM Program to $150.0 million from $50.0 million. In connection with the upsize of the ATM Program to $150.0 million, the Company entered into Amendment No. 1 to the At-the-Market Sales Agreement, dated September 23, 2020, with the Agents (the “Amendment No. 1 to the Sales Agreement,” and together with the Initial Sales Agreement, the “Sales Agreement”). The Company intends to use the net proceeds from the ATM Program to make investments in portfolio companies in accordance with its investment objective and strategy and for general corporate purposes.

Sales of the Shares, if any, will be made by any method that is deemed to be an “at-the-market” offering as defined in Rule 415 under the Securities Act, including sales made directly on the Nasdaq Global Select Market or sales made to or through a market maker other than on an exchange, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at other negotiated prices. Actual sales in the ATM Program will depend on a variety of factors to be determined by the Company from time to time.

The Agents will receive a commission from the Company equal to up to 2.0% of the gross sales price of any Shares sold through the Agents under the Sales Agreement and reimbursement of certain expenses. The Sales Agreement contains customary representations, warranties and agreements of the Company, conditions to closing, indemnification rights and obligations of the parties and termination provisions.

During the three and six months ended June 30, 2023, the Company did not issue or sell shares under the ATM program. During the three and six months ended June 30, 2022, the Company issued and sold 0 and 17,807 shares, respectively, under the ATM Program at weighted-average price of $13.01 per share, for gross proceeds of $231,677 and net proceeds of $229,896, after deducting commissions to the Agents on Shares sold. As of June 30, 2023, up to approximately $98.8 million in aggregate amount of the Shares remain available for sale under the ATM Program.

The entire disclosure for equity.

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SCHEDULE OF STOCK OPTIONS, VALUATION ASSUMPTIONS (Details)	Jul. 17, 2019
Share-Based Payment Arrangement [Abstract]
Term (years)	5 years 6 months 18 days
Volatility	39.47%
Risk-free rate	1.86%
Dividend yield	0.00%

SCHEDULE OF INVESTMENTS (Details) (Parenthetical) - USD ($) $ in Millions		4 Months Ended	6 Months Ended
	Aug. 08, 2023	Aug. 08, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Subsequent Event [Line Items]
Public common shares				17,807
Debt instrument interest rate			6.00%		6.00%
Nextdoor Holdings, Inc. [Member]
Subsequent Event [Line Items]
Public common shares	262,420
Residential Homes For Rent, LLC [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Repayments of debt		$ 0.1
Debt instrument interest rate	15.00%	15.00%
Warrant expiration date		Dec. 23, 2023
Proceeds from debt		$ 0.1

DEBT CAPITAL ACTIVITIES

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

DEBT CAPITAL ACTIVITIES

NOTE 10—DEBT CAPITAL ACTIVITIES

6.00% Notes due 2026

On December 17, 2021, the Company issued $70.0 million aggregate principal amount of its 6.00% Notes due 2026 (the “6.00% Notes due 2026”), pursuant to an Indenture, dated as of March 28, 2018 (the “Base Indenture”), between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (the “Trustee”), as supplemented by a second supplemental indenture, dated as of December 17, 2021 (together with the Base Indenture, the “Indenture”), between the Company and the Trustee. On December 21, 2021, the Company issued an additional $5.0 million aggregate principal amount of 6.00% Notes due 2026 pursuant to an overallotment option. The 6.00% Notes due 2026 bear interest at a fixed rate of 6.00% per year, payable quarterly in arrears on March 30, June 30, September 30, and December 30 of each year, commencing on March 30, 2022. The 6.00% Notes due 2026 have a maturity date of December 30, 2026, unless previously repurchased in accordance with their terms. The Company has the right to redeem the 6.00% Notes due 2026, in whole or in part, at any time or from time to time, on or after December 30, 2024 at a redemption price of 100% of the outstanding principal amount of the 6.00% Notes due 2026 plus accrued and unpaid interest.

The 6.00% Notes due 2026 are direct unsecured obligations of the Company and rank pari passu, or equal in right of payment, with all outstanding and future unsecured, unsubordinated indebtedness of the Company; senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 6.00% Notes due 2026; effectively subordinated to any of the Company’s future secured indebtedness (including indebtedness that is initially unsecured in respect of which the Company subsequently grants a security interest), to the extent of the value of the assets securing such indebtedness (provided, however, that the Company has agreed under the Indenture to not incur any secured or unsecured indebtedness that would be senior to the 6.00% Notes due 2026 while the 6.00% Notes due 2026 are outstanding, subject to certain exceptions); and structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 6.00% Notes due 2026 are listed for trading on the Nasdaq Global Select Market under the symbol “SSSSL”. The reported closing market price of SSSSL on June 30, 2023 and December 31, 2022 was $23.20 and $23.51 per note, respectively. As of June 30, 2023 and December 31, 2022, the fair value of the 6.00% Notes due 2026 was $69.6 million and $70.5 million, respectively. The 6.00% Notes due 2026 are classified as Level 1 of the fair value hierarchy (Refer to “Note 2 — Significant Accounting Policies”). As of June 30, 2023 and December 31, 2022, the Company was in compliance with the terms of the Indenture.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure [Table]
Net Income (Loss) Attributable to Parent	$ (15,620,024)	$ 4,616,509	$ (94,339,688)	$ 20,456,455	$ (11,003,515)	$ (73,883,233)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Realized Gain/(Loss) on Investments:

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

INVESTMENT INCOME

Total Investment Income

$ 1,372,218

$ 890,631

$ 2,671,300

$ 1,473,731

OPERATING EXPENSES

Compensation expense

2,117,872

1,759,261

4,254,626

3,619,963

Directors’ fees

^[1]

161,661

191,829

322,226

352,394

Professional fees

916,579

1,078,459

1,907,413

2,351,172

Interest expense

1,214,267

1,226,767

2,427,553

Income tax expense

90,826

5,691

620,606

7,741

Other expenses

676,353

439,512

1,165,981

750,501

Total Operating Expenses

5,177,558

4,701,519

10,698,405

9,509,324

Net Investment Loss

(3,805,340)

(3,810,888)

(8,027,105)

(8,035,593)

Change in Unrealized Appreciation/(Depreciation) of Investments:

(13,270,199)

(1,966,225)

(13,080,856)

1,130,050

Net Change in Unrealized Appreciation/(Depreciation) of Investments

1,455,515

(88,562,575)

10,104,446

(66,977,690)

Net Change in Net Assets Resulting from Operations

$ (15,620,024)

$ (94,339,688)

$ (11,003,515)

$ (73,883,233)

Net Change in Net Assets Resulting from Operations per Common Share:

Basic

$ (0.60)

$ (3.08)

$ (0.41)

$ (2.39)

Diluted

^[2]

$ (0.60)

$ (3.08)

$ (0.41)

$ (2.39)

Weighted-Average Common Shares Outstanding

Basic

25,952,447

30,633,878

27,158,786

30,929,321

Diluted

^[2],[3]

25,952,447

30,633,878

27,158,786

30,929,321

Non Controlled Non Affiliate Investments [Member]

INVESTMENT INCOME

Interest income

$ 40,394

$ 149,282

$ 89,869

$ 311,737

Dividend income

63,145

191,349

126,290

321,994

Realized Gain/(Loss) on Investments:

Change in Unrealized Appreciation/(Depreciation) of Investments:

(2,325,175)

(1,895,846)

(2,135,832)

1,200,429

Net Change in Unrealized Appreciation/(Depreciation) of Investments

(12,152,800)

(88,620,056)

(14,216,377)

(66,876,069)

Interest income from U.S. Treasury bills

INVESTMENT INCOME

Interest income

318,425

550,000

554,425

840,000

950,254

1,900,716

Change in Unrealized Appreciation/(Depreciation) of Investments:

Net Change in Unrealized Appreciation/(Depreciation) of Investments

2,387,891

130,000

14,420,763

260,000

Realized Gain/(Loss) on Investments:

Change in Unrealized Appreciation/(Depreciation) of Investments:

(10,945,024)

(70,379)

(10,945,024)

(70,379)

Net Change in Unrealized Appreciation/(Depreciation) of Investments

$ 11,220,424

$ (72,519)

$ 9,900,060

$ (361,621)

[1]	Refer to “Note 11 — Stock-Based Compensation” for more detail.
[2]	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding. Refer to “Note 6 — Net Change in Net Assets Resulting from Operations per Common Share — Basic and Diluted”.
[3]	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding.

SCHEDULE OF FAIR VALUE OF ASSETS ON UNOBSERVABLE INPUT (Details)

Jun. 30, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member]

$ 148,731,849

$ 143,865,093

$ 214,632,504

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | Measurement Input, Revenue Multiple [Member]

$ 44,805,853

$ 18,692,931

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | AFFO Multiple [Member]

Revenue multiples

^[1]

Revenue multiples

^[2]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | Measurement Input Liquidation Value [Member]

AFFO(4) multiple

^[1],[3]

AFFO(4) multiple

^[2],[4]

Investments in and Advances to Affiliates [Line Items]

^[2]

Liquidation Value

Common Stock in Private Companies [Member] | Valuation, Market Approach [Member]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Minimum [Member]

Market approach

^[5]

Market approach

^[6]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Maximum [Member]

0.91

^[7]

1.06

^[8]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Weighted Average [Member]

10.16

^[7]

4.42

^[8]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | PWERM [Member]

3.67

^[7]

1.74

^[8]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | PWERM [Member] | AFFO Multiple [Member] | Minimum [Member]

PWERM

^[5],[9]

PWERM

^[6],[10]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | PWERM [Member] | AFFO Multiple [Member] | Maximum [Member]

10.2

^[7]

8.62

^[8]

Investments in and Advances to Affiliates [Line Items]

Common Stock in Private Companies [Member] | PWERM [Member] | AFFO Multiple [Member] | Weighted Average [Member]

^[8]

12.62

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member]

^[8]

10.94

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Measurement Input, Revenue Multiple [Member]

$ 96,909,349

$ 117,214,465

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Measurement Input, Discount Rate [Member]

Revenue multiples

^[1]

Revenue multiples

^[2]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Measurement Input Liquidation Value [Member]

Discount rate

^[1]

Discount rate

^[2]

Investments in and Advances to Affiliates [Line Items]

^[2]

Liquidation Value

Preferred Stock in Private Companies [Member] | Measurement Input, Discount for Lack of Marketability [Member]

^[8]

Investments in and Advances to Affiliates [Line Items]

^[2]

DLOM

Preferred Stock in Private Companies [Member] | Measurement Input, Discount for Lack of Marketability [Member] | Weighted Average [Member]

^[8]

10.0

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Measurement Input Financing Risk [Member]

^[8]

10.0

Investments in and Advances to Affiliates [Line Items]

^[2]

Financing Risk

Preferred Stock in Private Companies [Member] | Measurement Input Financing Risk [Member] | Weighted Average [Member]

^[8]

10.0

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation, Market Approach [Member]

^[8]

10.0

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Minimum [Member]

Market approach

^[5]

Market approach

^[6]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Maximum [Member]

0.16

^[7]

0.47

^[8]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Weighted Average [Member]

11.7

^[7]

5.45

^[8]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | PWERM [Member]

2.79

^[7]

2.38

^[8]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | PWERM [Member] | Measurement Input, Revenue Multiple [Member]

PWERM

^[5],[9]

PWERM

^[6],[10]

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | PWERM [Member] | Measurement Input, Revenue Multiple [Member] | Weighted Average [Member]

^[8]

1.17

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation Technique, Discounted Cash Flow [Member]

^[8]

1.26

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member]

^[6]

Discounted cash flow

Investments in and Advances to Affiliates [Line Items]

Preferred Stock in Private Companies [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted Average [Member]

15.0

^[7]

15.0

^[8]

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member]

^[8]

15.0

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member] | Measurement Input, Revenue Multiple [Member]

$ 3,115,764

$ 4,488,200

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member] | Valuation, Market Approach [Member]

Revenue multiples

^[1]

Revenue multiples

^[2]

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Minimum [Member]

Market approach

^[5]

Market approach

^[6]

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Maximum [Member]

0.44

^[7]

0.47

^[8]

Investments in and Advances to Affiliates [Line Items]

Debt Investments [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Weighted Average [Member]

5.44

^[7]

5.45

^[8]

Investments in and Advances to Affiliates [Line Items]

Investments in and Advances to Affiliates [Line Items]

5.29

^[7]

3.6

^[8]

Options [Member]

Options [Member] | Measurement Input, Revenue Multiple [Member]

$ 3,900,883

Investments in and Advances to Affiliates [Line Items]

Options [Member] | Valuation, Market Approach [Member]

^[1]

Term to expiration (Years)

Investments in and Advances to Affiliates [Line Items]

Options [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Minimum [Member]

^[5]

Option pricing model

Investments in and Advances to Affiliates [Line Items]

Options [Member] | Valuation, Market Approach [Member] | Measurement Input, Revenue Multiple [Member] | Maximum [Member]

^[7]

0.5

Investments in and Advances to Affiliates [Line Items]

Investments in and Advances to Affiliates [Line Items]

^[7]

3.87

Equity Option [Member]

Equity Option [Member] | Measurement Input, Discount Rate [Member]

$ 3,469,497

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Measurement Input Term of Expiration [Member]

^[2]

Discount Rate

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Discounted Cash Flow [Member]

^[2]

Term to expiration (Years)

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member]

^[6]

Discounted cash flow

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Weighted Average [Member]

^[8]

15.0

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Option Pricing Model [Member]

^[8]

15.0

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input Term of Expiration [Member] | Minimum [Member]

^[6]

Option pricing model

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input Term of Expiration [Member] | Maximum [Member]

^[8]

1.00

Investments in and Advances to Affiliates [Line Items]

Equity Option [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input Term of Expiration [Member] | Weighted Average [Member]

^[8]

5.29

Investments in and Advances to Affiliates [Line Items]

Share-Based Payment Arrangement [Abstract]

^[8]

1.65

[1]	The Board considers all relevant information that can reasonably be obtained when determining the fair value of Level 3 investments. Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions, or liquidity events, the type and availability of unobservable inputs may change. Increases/(decreases) in revenue multiples, earnings before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher (lower) fair values, all else equal. Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in higher (lower) fair values, all else equal. The market approach utilizes market value (revenue and EBIT) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Board carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. In general, precedent transactions include recent rounds of financing, recent purchases made by the Company, and tender offers. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
[2]	The Board considers all relevant information that can reasonably be obtained when determining the fair value of Level 3 investments. Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions, or liquidity events, the type and availability of unobservable inputs may change. Increases/(decreases) in revenue multiples, earnings before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher (lower) fair values, all else equal. Decreases/(increases) in discount rates, volatility, and annual risk rates, would result in higher (lower) fair values, all else equal. The market approach utilizes market value (revenue and EBIT) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Company carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. In general, precedent transactions include recent rounds of financing, recent purchases made by the Company, and tender offers. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
[3]	Adjusted Funds From Operations, or “AFFO”.
[4]	Adjusted Funds From Operations, or “AFFO”.
[5]	As of June 30, 2023, the Board used a hybrid market and income approach to value certain common and preferred stock investments as the Board felt this approach better reflected the fair value of these investments. In considering multiple valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to change from one period of measurement to the next; however, the weighting of each in determining the final fair value of a Level 3 investment may change based on recent events or transactions. The hybrid approach may also consider certain risk weightings to account for the uncertainty of future events. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
[6]	As of December 31, 2022, the Board used a hybrid market and income approach to value certain common and preferred stock investments as the Board felt this approach better reflected the fair value of these investments. In considering multiple valuation approaches (and consequently, multiple valuation techniques), the valuation approaches and techniques are not likely to change from one period of measurement to the next; however, the weighting of each in determining the final fair value of a Level 3 investment may change based on recent events or transactions. The hybrid approach may also consider certain risk weightings to account for the uncertainty of future events. Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value” for more detail.
[7]	The weighted averages are calculated based on the fair market value of each investment.
[8]	The weighted averages are calculated based on the fair market value of each investment.
[9]	Probability-Weighted Expected Return Method, or “PWERM”.
[10]	Probability-Weighted Expected Return Method, or “PWERM”.

STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2023

STOCK-BASED COMPENSATION

NOTE 11—STOCK-BASED COMPENSATION

2019 Equity Incentive Plan

On June 5, 2019, our Board of Directors adopted, and our stockholders approved, an equity-based incentive plan (the “2019 Equity Incentive Plan”), which authorized equity awards to be granted for up to 1,976,264 shares of our common stock. Under the 2019 Equity Incentive Plan, the exercise price of awards would be set on the grant date and could not be less than the fair market value per share on such date, however, that in the case of an incentive stock option granted to an employee who, at the time of the grant of such option, owned stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or the Company’s present or future parent or subsidiary corporations, as defined in Section 424(e) or (f) of the Code, or other Affiliates the employees of which were eligible to receive incentive stock options under the Code (the “10% Shareholders”), the exercise price per share would be no less than one hundred ten percent (110%) of the fair market value per share on the date of grant. The fair market value would be the closing price of the shares on Nasdaq on the date of grant.

On July 17, 2019, stock options providing the right to purchase up to 1,165,000 shares were granted under the 2019 Equity Incentive Plan with an exercise price equal to the market price of our common stock at the grant date. These stock options had a vesting period of 3 years with 1/3 vesting immediately on the grant date, 1/3 vesting on July 17, 2020, and the remaining 1/3 vesting on July 17, 2021.

Cancellation of Stock Option Awards Under 2019 Equity Incentive Plan

On April 28, 2020, all stock option awards granted under the 2019 Equity Incentive Plan were canceled for no payment pursuant to an option cancellation agreement (the “Option Cancellation Agreement”). As a result, there are no stock option awards outstanding under the 2019 Equity Incentive Plan. In accordance with FASB ASC 718, Compensation – Stock Compensation (“ASC 718”) all unrecognized compensation cost related to still unvested shares was recognized as of the date of cancellation. For more information, including a description of the Option Cancellation Agreement, please refer to our current report on Form 8-K filed with the SEC on April 29, 2020. Such description of the Option Cancellation Agreement is qualified in its entirety by reference to the text of such Option Cancellation Agreement filed as Exhibit 10.3 to our quarterly report on Form 10-Q for the period ended March 31, 2020 filed with the SEC on May 8, 2020.

The Company follows ASC 718 to account for stock options granted. Under ASC 718, compensation expense associated with stock-based compensation is measured at the grant date based on the fair value of the award and is recognized over the vesting period. Determining the appropriate fair value model and calculating the fair value of stock-based awards at the grant date requires judgment, including estimating stock price volatility, forfeiture rate, and expected option life. The time-based options granted on July 17, 2019 were ascribed a weighted-average fair value of $2.57 per share. The fair value of options granted under the 2019 Equity Incentive Plan was based upon a Black Scholes option pricing model using the assumptions in the following table:

Input Assumptions		As of July 17, 2019 Grant Date
Term (years)		5.55
Volatility		39.47%
Risk-free rate		1.86%
Dividend yield		—%

SCHEDULE OF OPTION, ACTIVITY

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2019		1,155,000		$	6.57	$	2.57
Cancelled		-			-		-
Outstanding		-			-		-
Vested and Exercisable as of December 31, 2019		385,000		$	6.57	$	2.57
Outstanding		-			-		-
Cancelled		(1,155,000	)	$	6.57	$	2.57
Outstanding as of June 30, 2023 and December 31, 2022		—			-		-

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

As of June 30, 2023 and December 31, 2022, there was $0 of total unrecognized compensation cost related to non-vested stock options granted under the 2019 Equity Incentive Plan, as the options were cancelled effective April 28, 2020.

Amended and Restated 2019 Equity Incentive Plan

On June 19, 2020, our Board of Directors adopted, and our stockholders approved, an amendment and restatement of the Company’s 2019 Equity Incentive Plan (the “Amended & Restated 2019 Equity Incentive Plan”) under which the Company is authorized to grant equity awards for up to 1,627,967 shares of its common stock. In accordance with the exemptive relief granted to the Company by the SEC on June 16, 2020 with respect to the Amended & Restated 2019 Equity Incentive Plan, the Company is generally authorized to (i) issue restricted shares as part of the compensation package for certain of its employees, officers and all directors, including non-employee directors (collectively, the “Participants”), (ii) issue options to acquire shares of its common stock (“Options”) to certain employees, officers and employee directors as a part of such compensation packages, (iii) withhold shares of the Company’s common stock or purchase shares of common stock from the Participants to satisfy tax withholding obligations relating to the vesting of restricted shares or the exercise of Options granted to the certain Participants pursuant to the Amended & Restated 2019 Equity Incentive Plan, and (iv) permit the Participants to pay the exercise price of Options granted to them with shares of the Company’s common stock.

Under the Amended & Restated 2019 Equity Incentive Plan, each non-employee director will receive an annual grant of $50,000 worth of restricted shares of common stock (based on the closing stock price of the common stock on the grant date). Each grant of $50,000 in restricted shares will vest, in full, if the non-employee director is in continuous service as a director of the Company through the anniversary of such grant (or, if earlier, the annual meeting of the Company’s stockholders that is closest to the anniversary of such grant). During the six months ended June 30, 2023, the Company granted 60,060 restricted shares to the Company’s non-employee directors pursuant to the Amended & Restated 2019 Equity Incentive Plan. Additionally, on May 31, 2023, 26,736 restricted shares related to the 2022 non-employee director grants vested. Compensation expense associated with the restricted shares is recognized on a quarterly basis over the respective vesting periods.

Other than such restricted shares granted to non-employee directors, the Company’s Compensation Committee may determine the time or times at which Options and restricted shares granted to other Participants will vest or become payable or exercisable, as applicable. The exercise price of each Option will not be less than 100% of the fair market value of the Company’s common stock on the date the option is granted. However, any optionee who owns more than 10% of the combined voting power of all classes of the Company’s outstanding common stock (a “10% Stockholder”), will not be eligible for the grant of an incentive stock option unless the exercise price of the incentive stock option is at least 110% of the fair market value of the Company’s common stock on the date of grant. Generally, no Option will be exercisable after the expiration of ten years from the date of grant. In the case of an Option granted to a 10% Stockholder, the term of an incentive stock option will be for no more than five years from the date of grant.

During the six months ended June 30, 2023, the Company did not grant any restricted shares to the Company’s officers pursuant to the Amended & Restated 2019 Equity Incentive Plan. The Company determined that the fair values, based on the grant date close price of such restricted shares granted to the Company’s officers under the Amended & Restated 2019 Equity Incentive Plan during the six months ended June 30, 2023 and 2022 were approximately $0 and $2,885,000, respectively, in the aggregate.

For the six months ended June 30, 2023 and 2022, the Company recognized stock-based compensation expense of $1,525,258 and $1,263,300, respectively. As of June 30, 2023 and December 31, 2022, there were approximately $4,926,351 and $6,451,610 of total unrecognized compensation costs related to the restricted share grants. Compensation expense associated with the restricted shares is recognized on a quarterly basis over the respective vesting periods.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

The following table summarizes the activities for the Company’s restricted share grants for the six months ended June 30, 2023 under the Amended & Restated 2019 Equity Incentive Plan:

SCHEDULE OF EQUITY INCENTIVE PLAN

	Number of Restricted Shares
Outstanding as of December 31, 2022		606,620
Granted		60,060
Vested⁽¹⁾		(168,306	)
Forfeited		—
Outstanding as of June 30, 2023		498,374
Vested as of June 30, 2023		339,106

(1)	The balance of vested shares reflects the total shares vested during the period and has not been reduced for those vested shares forfeited at time of vest related to net share settlement.

The Amended & Restated 2019 Equity Incentive Plan provides for the concept of “net share settlement.” Specifically, it provides that the Company is authorized to withhold the Common Stock at the time the restricted shares are vested and taxed in satisfaction of the Participant’s tax obligations. On June 16, 2020, the Company received exemptive relief from the SEC to permit such withholding of shares.

SCHEDULE OF BASIC AND DILUTED COMMON SHARE (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Net Change in Net Assets Resulting from Operations per Common Share:

Net change in net assets resulting from operations

$ (15,620,024)

$ (94,339,688)

$ (11,003,515)

$ (73,883,233)

Weighted-average common shares–basic

25,952,447

30,633,878

27,158,786

30,929,321

Earnings per common share–basic

$ (0.60)

$ (3.08)

$ (0.41)

$ (2.39)

Net change in net assets resulting from operations

$ (15,620,024)

$ (94,339,688)

$ (11,003,515)

$ (73,883,233)

Weighted Average Number of Shares Outstanding, Diluted

^[1],[2]

25,952,447

30,633,878

27,158,786

30,929,321

Earnings per common share–diluted

^[2]

$ (0.60)

$ (3.08)

$ (0.41)

$ (2.39)

[1]	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding.
[2]	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding. Refer to “Note 6 — Net Change in Net Assets Resulting from Operations per Common Share — Basic and Diluted”.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Amount after tax of income (loss) from continuing operations attributable to the parent.

Investments in and Advances to Affiliates [Line Items]

INVESTMENTS AT FAIR VALUE (Details Narrative) - Integer	Jun. 30, 2023	Dec. 31, 2022
Investments in and Advances to Affiliates [Abstract]
Number of positions	61	64
Number of portfolio companies	37	39

SCHEDULE OF COMPOSITION OF INVESTMENT PORTFOLIO (Details) - USD ($)

Jun. 30, 2023

Dec. 31, 2022

$ 160,283,146

$ 157,188,578

85.90%

74.80%

Investments in and Advances to Affiliates [Line Items]

100.00%

West [Member]

$ 86,688,291

$ 94,996,805

46.50%

45.10%

Investments in and Advances to Affiliates [Line Items]

54.10%

60.40%

Northeast [Member]

$ 55,437,660

$ 46,944,432

29.70%

22.40%

Investments in and Advances to Affiliates [Line Items]

34.60%

29.90%

Midwest [Member]

$ 12,389,590

$ 8,183,281

6.60%

3.90%

Investments in and Advances to Affiliates [Line Items]

7.70%

5.20%

International [Member]

$ 5,767,605

$ 7,064,060

3.10%

3.40%

Financial Technology [Member]

3.60%

4.50%

Investments in and Advances to Affiliates [Line Items]

$ 56,553,879

$ 38,096,753

30.30%

18.10%

Education Technology [Member]

35.30%

24.20%

Investments in and Advances to Affiliates [Line Items]

$ 44,348,880

$ 61,841,493

23.80%

29.40%

Investments in and Advances to Affiliates [Line Items]

27.70%

39.40%

Marketplaces [Member]

$ 25,038,245

$ 27,291,467

13.40%

13.00%

Investments in and Advances to Affiliates [Line Items]

15.60%

17.40%

Big Data/Cloud [Member]

$ 22,517,497

$ 14,927,819

12.10%

7.10%

Investments in and Advances to Affiliates [Line Items]

14.00%

9.50%

Social/Mobile [Member]

$ 10,890,617

$ 14,047,018

5.80%

6.70%

Investments in and Advances to Affiliates [Line Items]

6.80%

8.90%

Sustainability [Member]

$ 934,028

$ 984,028

0.50%

0.60%

Investments in and Advances to Affiliates [Line Items]

$ 284,571,254

^[1]

$ 301,128,106

^[2]

$ 236,178,680

^[1]

$ 242,245,395

^[2]

Private Portfolio Companies [Member]

126.51%

^[1]

115.30%

^[2]

Investments in and Advances to Affiliates [Line Items]

$ 188,952,941

$ 186,805,883

$ 148,731,849

$ 143,865,093

Private Portfolio Companies [Member] | Preferred Stock [Member]

79.70%

68.50%

Investments in and Advances to Affiliates [Line Items]

$ 106,312,054

$ 118,472,118

$ 96,909,349

$ 117,214,465

Private Portfolio Companies [Member] | Common Stock [Member]

51.90%

55.80%

Investments in and Advances to Affiliates [Line Items]

$ 65,438,476

$ 50,601,512

$ 44,805,853

$ 18,692,931

Private Portfolio Companies [Member] | Debt Investments [Member]

24.00%

8.90%

Investments in and Advances to Affiliates [Line Items]

$ 5,817,464

$ 6,316,466

$ 3,115,764

$ 4,488,200

Private Portfolio Companies [Member] | Options Held [Member]

1.70%

2.10%

Investments in and Advances to Affiliates [Line Items]

$ 11,384,947

$ 11,415,787

$ 3,900,883

$ 3,469,497

Publicly Traded Portfolio Companies [Member] | Common Stock [Member]

2.10%

1.70%

Investments in and Advances to Affiliates [Line Items]

$ 20,139,645

$ 29,322,625

$ 11,551,297

$ 13,323,485

Portfolio Investment [Member]

6.20%

6.30%

Investments in and Advances to Affiliates [Line Items]

$ 209,092,586

$ 216,128,508

$ 160,283,146

$ 157,188,578

Non Portfolio Investments [Member] | US Treasury Bills [Member]

85.90%

74.80%

Investments in and Advances to Affiliates [Line Items]

$ 75,478,668

$ 84,999,598

$ 75,895,534

$ 85,056,817

Net Change in Net Assets Resulting from Operations per Common Share:

40.70%

40.50%

[1]

All portfolio investments are non-control/non-affiliated and non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their initial public offering (“IPO”). Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).

[2]

NET CHANGE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE—BASIC AND DILUTED (Tables)

6 Months Ended

Jun. 30, 2023

SCHEDULE OF BASIC AND DILUTED COMMON SHARE

The following information sets forth the computation of basic and diluted net increase in net assets resulting from operations per common share, pursuant to ASC 260, for the three and six months ended June 30, 2023 and 2022.


	Three Months Ended June 30,							Six Months Ended June 30,
	2023			2022			2023			2022
Earnings per common share–basic:
Net change in net assets resulting from operations	$	(15,620,024	)	$	(94,339,688	)	$	(11,003,515	)	$	(73,883,233	)
Weighted-average common shares–basic		25,952,447			30,633,878			27,158,786			30,929,321
Earnings per common share–basic	$	(0.60	)	$	(3.08	)	$	(0.41	)	$	(2.39	)
Earnings per common share–diluted:
Net change in net assets resulting from operations	$	(15,620,024	)	$	(94,339,688	)	$	(11,003,515	)	$	(73,883,233	)
Weighted-average common shares outstanding–diluted⁽¹⁾		25,952,447			30,633,878			27,158,786			30,929,321
Earnings per common share–diluted	$	(0.60	)	$	(3.08	)	$	(0.41	)	$	(2.39	)

(1)	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The interim unaudited condensed consolidated financial statements of the Company are prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company is an investment company following the specialized accounting and reporting guidance specified in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services—Investment Companies. In the opinion of management, all adjustments, all of which were of a normal recurring nature, were considered necessary for the fair presentation of consolidated financial statements for the period have been included.

The results of operations for the current interim period are not necessarily indicative of results that ultimately may be achieved for any other interim period or for the year ending December 31, 2023. The interim unaudited condensed consolidated financial statements and notes hereto should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended December 31, 2022.

Basis of Consolidation

Basis of Consolidation

Under Article 6 of Regulation S-X and the American Institute of Certified Public Accountants’ (“AICPA”) Audit and Accounting Guide for Investment Companies, the Company is precluded from consolidating any entity other than another investment company, a controlled operating company that provides substantially all of its services and benefits to the Company, and certain entities established for tax purposes where the Company holds a 100% interest. Accordingly, the Company’s condensed consolidated financial statements include its accounts and the accounts of the Taxable Subsidiaries, GCL, and SuRo Sports, its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

Use of Estimates

The preparation of condensed consolidated financial statements in accordance with GAAP requires the Company’s management to make a number of significant estimates. These include estimates of the fair value of certain assets and liabilities and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of certain revenues and expenses during the reporting period. It is likely that changes in these estimates may occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ materially from such estimates.

Uncertainties and Risk Factors

Uncertainties and Risk Factors

The Company is subject to a number of risks and uncertainties in the nature of its operations, as well as vulnerability due to certain concentrations. Refer to “Risk Factors” in Part II, Item 1A of this Form 10-Q for a detailed discussion of the risks and uncertainties inherent in the nature of the Company’s operations. Refer to “Note 4—Investments at Fair Value” for an overview of the Company’s industry and geographic concentrations.

Investments at Fair Value

Investments at Fair Value

The Company applies fair value accounting in accordance with GAAP and the AICPA’s Audit and Accounting Guide for Investment Companies. The Company values its assets on a quarterly basis, or more frequently if required under the 1940 Act.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:

Level 1—Valuations based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access at the measurement date.

Level 2—Valuations based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data at the measurement date for substantially the full term of the assets or liabilities.

Level 3—Valuations based on unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. The majority of the Company’s investments are Level 3 investments and are subject to a high degree of judgment and uncertainty in determining fair value.

When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Therefore, gains and losses for such assets and liabilities categorized within the Level 3 table set forth in “Note 4—Investments at Fair Value” may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3).

A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Reclassifications impacting Level 3 of the fair value hierarchy are reported as transfers in/out of the Level 3 category as of the beginning of the measurement period in which the reclassifications occur. Refer to “Levelling Policy” below for a detailed discussion of the levelling of the Company’s financial assets or liabilities and events that may cause a reclassification within the fair value hierarchy.

Securities for which market quotations are readily available on an exchange are valued at the most recently available closing price of such security as of the valuation date, unless there are legal or contractual restrictions on the sale or use of such security that under ASC 820-10-35 should be incorporated into the security’s fair value measurement as a characteristic of the security that would transfer to market participants who would buy the security. The Company may also obtain quotes with respect to certain of its investments from pricing services, brokers or dealers in order to value assets. When doing so, the Company determines whether the quote obtained is sufficient according to GAAP to determine the fair value of the security. If determined to be adequate, the Company uses the quote obtained.

Securities for which reliable market quotations are not readily available or for which the pricing source does not provide a valuation or methodology, or provides a valuation or methodology that, in the judgment of management, the Company’s Board of Directors or the valuation committee of the Company’s Board of Directors (the “Valuation Committee”), does not reliably represent fair value, shall each be valued as follows:

	1.	The quarterly valuation process begins with each portfolio company or investment being initially valued by the internal investment professionals responsible for the portfolio investment;

	2.	Preliminary valuation estimates are then documented and discussed with senior management;

	3.	For all investments for which there are no readily available market quotations, the Valuation Committee engages an independent third-party valuation firm to conduct independent appraisals, review management’s preliminary valuations and make its own independent assessment;

	4.	The Valuation Committee applies the appropriate valuation methodology to each portfolio asset in a consistent manner, considers the inputs provided by management and the independent third-party valuation firm, discusses the valuations and recommends to the Company’s Board of Directors a fair value for each investment in the portfolio; and

	5.	The Company’s Board of Directors then discusses the valuations recommended by the Valuation Committee and determines in good faith the fair value of each investment in the portfolio.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

In making a good faith determination of the fair value of investments, the Board applies valuation methodologies consistent with industry practice. Valuation methods utilized include, but are not limited to, the following: comparisons to prices from secondary market transactions; venture capital financings; public offerings; purchase or sales transactions; analysis of financial ratios and valuation metrics of portfolio companies that issued such private equity securities to peer companies that are public; analysis of the portfolio company’s most recent financial statements, forecasts and the markets in which the portfolio company does business, and other relevant factors. The Company assigns a weighting based upon the relevance of each method to assist the Board in determining the fair value of each investment.

For investments that are not publicly traded or that do not have readily available market quotations, the Valuation Committee generally engages an independent valuation firm to provide an independent valuation, which the Company’s Board of Directors considers, among other factors, in making its fair value determinations for these investments. For the current and prior fiscal year, the Valuation Committee engaged an independent valuation firm to perform valuations of 100% of the Company’s investments for which there were no readily available market quotations.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Because of the inherent uncertainty of valuation, these estimated values may differ significantly from the values that would have been reported had a ready market for the investments existed, and it is reasonably possible that the difference could be material.

In addition, changes in the market environment and other events that may occur over the life of the investments may cause the realized gains or losses on investments to be different from the net change in unrealized appreciation or depreciation currently reflected in the consolidated financial statements.

Equity Investments

Equity investments for which market quotations are readily available in an active market are generally valued at the most recently available closing market prices and are classified as Level 1 assets. Equity investments with readily available market quotations that are subject to sales restrictions due to an initial public offering (“IPO”) by the portfolio company will be classified as Level 1. Any other equity investments with readily available market quotations that are subject to sales restrictions that would transfer to market participants who would buy the security may be valued at a discount for a lack of marketability (“DLOM”), to the most recently available closing market prices depending upon the nature of the sales restriction. These investments are generally classified as Level 2 assets. The DLOM used is generally based upon the market value of publicly traded put options with similar terms.

The fair values of the Company’s equity investments for which market quotations are not readily available are determined based on various factors and are classified as Level 3 assets. To determine the fair value of a portfolio company for which market quotations are not readily available, the Board applies the appropriate respective valuation methodology for the asset class or portfolio holding, which may involve analyzing the relevant portfolio company’s most recently available historical and projected financial results, public market comparables, and other factors. The Board may also consider other events, including the transaction in which the Company acquired its securities, subsequent equity sales by the portfolio company, and mergers or acquisitions affecting the portfolio company. In addition, the Board may consider the trends of the portfolio company’s basic financial metrics from the time of its original investment until the measurement date, with material improvement of these metrics indicating a possible increase in fair value, while material deterioration of these metrics may indicate a possible reduction in fair value.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

In determining the fair value of equity or equity-linked securities (including warrants to purchase common or preferred stock) in a portfolio company, the Board considers the rights, preferences and limitations of such securities. In cases where a portfolio company’s capital structure includes multiple classes of preferred and common stock and equity-linked securities with different rights and preferences, the Company may use an option pricing model to allocate value to each equity-linked security, unless it believes a liquidity event such as an acquisition or a dissolution is imminent, or the portfolio company is unlikely to continue as a going concern. When equity-linked securities expire worthless, any cost associated with these positions is recognized as a realized loss on investments in the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows. In the event these securities are exercised into common or preferred stock, the cost associated with these securities is reassigned to the cost basis of the new common or preferred stock. These conversions are noted as non-cash operating items on the Condensed Consolidated Statements of Cash Flows.

Debt Investments

Given the nature of the Company’s current debt investments (excluding U.S. Treasuries), principally convertible and promissory notes issued by venture-capital-backed portfolio companies, these investments are classified as Level 3 assets because there is no known or accessible market or market indexes for these investment securities to be traded or exchanged. The Company’s debt investments are valued at estimated fair value as determined in good faith by the Company’s Board of Directors.

Options

The Company’s Board of Directors determines the fair value of options based on methodologies that can include discounted cash flow analyses, option pricing models, comparable analyses and other techniques as deemed appropriate. These investments are classified as Level 3 assets because there is no known or accessible market or market indexes for these investment securities to be traded or exchanged. The Company’s options are valued at estimated fair value as determined by the Company’s Board of Directors.

Special Purpose Acquisition Companies

The Company’s Board of Directors measures its Special Purpose Acquisition Company (“SPAC”) investments at fair value, which is equivalent to cost until a SPAC transaction is announced. After a SPAC transaction is announced, the Company’s Board of Directors will determine the fair value of SPAC investments based on fair value analyses that can include option pricing models, probability-weighted expected return method analyses and other techniques as deemed appropriate. Upon completion of the SPAC transaction, the Board utilizes the public share price of the entity, less a DLOM if there are restrictions on selling. The Company’s SPAC investments are valued at estimated fair value as determined in good faith by the Company’s Board of Directors.

Venture Investment Funds

In valuing the Company’s investments in venture investment funds (“Venture Investment Funds”), the Company applies the practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value (“NAV”) per share (or its equivalent). ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies, or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment.

Portfolio Company Investment Classification

The Company is a non-diversified company within the meaning of the 1940 Act. The Company classifies its investments by level of control. As defined in the 1940 Act, control investments are those where the investor retains the power to exercise a controlling influence over the management or policies of a company. Control is generally deemed to exist when a company or individual directly or indirectly owns beneficially more than 25% of the voting securities of an investee company. Affiliated investments and affiliated companies are defined by a lesser degree of influence and are deemed to exist when a company or individual directly or indirectly owns, controls or holds the power to vote 5% or more of the outstanding voting securities of a portfolio company. Refer to the Consolidated Schedules of Investments as of June 30, 2023 and December 31, 2022, for details regarding the nature and composition of the Company’s investment portfolio.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Levelling Policy

The portfolio companies in which the Company invests may offer their shares in IPOs. The Company’s shares in such portfolio companies are typically subject to lock-up agreements for 180 days following the IPO. Upon the IPO date, the Company transfers its investment from Level 3 to Level 1 due to the presence of an active market, or Level 2 if limited by the lock-up agreement. The Company prices the investment at the closing price on a public exchange as of the measurement date. In situations where there are lock-up restrictions, as well as legal or contractual restrictions on the sale or use of such security that under ASC 820-10-35 should be incorporated into the security’s fair value measurement as a characteristic of the security that would transfer to market participants who would buy the security, the Company will classify the investment as Level 2 subject to an appropriate DLOM to reflect the restrictions upon sale. The Company transfers investments between levels based on the fair value at the beginning of the measurement period in accordance with FASB ASC 820. For investments transferred out of Level 3 due to an IPO, the Company transfers these investments based on their fair value at the IPO date.

Securities Transactions

Securities Transactions

Securities transactions are accounted for on the date the transaction for the purchase or sale of the securities is entered into by the Company (i.e., trade date). Securities transactions outside conventional channels, such as private transactions, are recorded as of the date the Company obtains the right to demand the securities purchased or to collect the proceeds from a sale and incurs an obligation to pay for securities purchased or to deliver securities sold, respectively.

Valuation of Other Financial Instruments

Valuation of Other Financial Instruments

The carrying amounts of the Company’s other, non-investment financial instruments, consisting of cash, receivables, accounts payable, and accrued expenses, approximate fair value due to their short-term nature.

Cash

The Company custodies its cash with Western Alliance Trust Company, N.A., and may place cash in demand deposit accounts with other high-quality financial institutions. The cash held in these accounts may exceed the Federal Deposit Insurance Corporation insured limit. The Company believes the risk of loss associated with any uninsured balance is remote.

Escrow Proceeds Receivable

A portion of the proceeds from the sale of portfolio investments are held in escrow as a recourse for indemnity claims that may arise under the sale agreement or other related transaction contingencies. Amounts held in escrow are held at estimated realizable value and included in net realized gains (losses) on investments in the Condensed Consolidated Statements of Operations for the period in which they occurred and are adjusted as needed. Any remaining escrow proceeds balances from these transactions reasonably expected to be received are reflected on the Condensed Consolidated Statement of Assets and Liabilities as escrow proceeds receivable. Escrow proceeds receivable resulting from contingent consideration are to be recognized when the amount of the contingent consideration becomes realized or realizable. As of June 30, 2023 and December 31, 2022, the Company had $375,965 and $628,332, respectively, in escrow proceeds receivable.

Deferred Financing Costs

The Company records origination costs related to lines of credit as deferred financing costs. These costs are deferred and amortized as part of interest expense using the straight-line method over the respective life of the line of credit. For modifications to a line of credit, any unamortized origination costs are expensed. Included within deferred financing costs are offering costs incurred relating to the Company’s shelf registration statement on Form N-2. The Company defers these offering costs until capital is raised pursuant to the shelf registration statement or until the shelf registration statement expires. For equity capital raised, the offering costs reduce paid-in capital resulting from the offering. For debt capital raised, the associated offering costs are amortized over the life of the debt instrument. As of June 30, 2023 and December 31, 2022, the Company had deferred financing costs of $590,430 and $555,761, respectively, on the Condensed Consolidated Statement of Assets and Liabilities.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Operating Leases & Related Deposits

The Company accounts for its operating leases as prescribed by ASC 842, Leases, which requires lessees to recognize a right-of-use asset on the balance sheet, representing its right to use the underlying asset for the lease term, and a corresponding lease liability for all leases with terms greater than 12 months. The lease expense is presented as a single lease cost that is amortized on a straight-line basis over the life of the lease. Non-lease components (maintenance, property tax, insurance and parking) are not included in the lease cost. On June 3, 2019, the Company entered a 5-year operating lease for office space for which the Company has recorded a right-of-use asset and a corresponding lease liability for the operating lease obligation. These amounts have been discounted using the rate implicit in the lease. Refer to “Note 7—Commitments and Contingencies—Operating Leases and Related Deposits” for further detail.

Stock-based Compensation

Using the fair value recognition provisions as prescribed by ASC 718, Stock Compensation, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the appropriate service period. Determining the fair value of stock-based awards requires considerable judgment, including estimating the expected term of stock options and the expected volatility of our stock price. Differences between actual results and these estimates could have a material effect on our financial results. Forfeitures are accounted for as they occur. Refer to “Note 11—Stock-Based Compensation” for further detail.

Revenue Recognition

Revenue Recognition

The Company recognizes gains or losses on the sale of investments using the specific identification method. The Company recognizes interest income, adjusted for amortization of premium and accretion of discount, on an accrual basis. The Company recognizes dividend income on the ex-dividend date.

Investment Transaction Costs and Escrow Deposits

Investment Transaction Costs and Escrow Deposits

Commissions and other costs associated with an investment transaction, including legal expenses not reimbursed by the portfolio company, are included in the cost basis of purchases and deducted from the proceeds of sales. The Company makes certain acquisitions on secondary markets, which may involve making deposits to escrow accounts until certain conditions are met, including the underlying private company’s right of first refusal. If the underlying private company does not exercise or assign its right of first refusal and all other conditions are met, then the funds in the escrow account are delivered to the seller and the account is closed. Such transactions would be reflected on the Condensed Consolidated Statement of Assets and Liabilities as escrow deposits. As of June 30, 2023 and December 31, 2022, the Company had no escrow deposits.

Unrealized Appreciation or Depreciation of Investments

Unrealized Appreciation or Depreciation of Investments

Unrealized appreciation or depreciation is calculated as the difference between the fair value of the investment and the cost basis of such investment.

U.S. Federal and State Income Taxes

U.S. Federal and State Income Taxes

The Company elected to be treated as a RIC under Subchapter M of the Code, beginning with its taxable year ended December 31, 2014, has qualified to be treated as a RIC for subsequent taxable years and intends to continue to operate in a manner so as to qualify for the tax treatment applicable to RICs. To qualify for tax treatment as a RIC, among other things, the Company is required to meet certain source of income and asset diversification requirements and timely distribute to its stockholders at least the sum of 90% of our investment company taxable income (“ICTI”), including payment-in-kind interest income, as defined by the Code, and 90% of our net tax-exempt interest income (which is the excess of its gross tax-exempt interest income over certain disallowed deductions) for each taxable year (the “Annual Distribution Requirement”). Depending on the level of ICTI earned in a tax year, the Company may choose to carry forward into the next tax year ICTI in excess of current year dividend distributions. Any such carryforward ICTI must be distributed on or before December 31 of the subsequent tax year to which it was carried forward.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

If the Company meets the Annual Distribution Requirement, but does not distribute (or is not deemed to have distributed) each calendar year a sum of (1) 98% of its net ordinary income for each calendar year, (2) 98.2% of its capital gain net income for the one-year period ending October 31 in that calendar year and (3) any income recognized, but not distributed, in preceding years (the “Excise Tax Avoidance Requirement”), it generally will be required to pay an excise tax equal to 4% of the amount by which the Excise Tax Avoidance Requirement exceeds the distributions for the year. To the extent that the Company determines that its estimated current year annual taxable income will exceed estimated current year dividend distributions from such taxable income, the Company will accrue excise taxes, if any, on estimated excess taxable income as taxable income is earned using an annual effective excise tax rate. The annual effective excise tax rate is determined by dividing the estimated annual excise tax by the estimated annual taxable income.

So long as the Company qualifies and maintains its tax treatment as a RIC, it generally will not be subject to U.S. federal and state income taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as dividends. Rather, any tax liability related to income earned by the RIC will represent obligations of the Company’s investors and will not be reflected in the consolidated financial statements of the Company. Included in the Company’s consolidated financial statements, the Taxable Subsidiaries are taxable subsidiaries, regardless of whether the Company is a RIC. These Taxable Subsidiaries are not consolidated for income tax purposes and may generate income tax expenses as a result of their ownership of the portfolio companies. Such income tax expenses and deferred taxes, if any, will be reflected in the Company’s condensed consolidated financial statements.

If it is not treated as a RIC, the Company will be taxed as a regular corporation (a “C Corporation”) under Subchapter C of the Code for such taxable year. If the Company has previously qualified as a RIC but is subsequently unable to qualify for treatment as a RIC, and certain amelioration provisions are not applicable, the Company would be subject to tax on all of its taxable income (including its net capital gains) at regular corporate rates. The Company would not be able to deduct distributions to stockholders, nor would it be required to make distributions. Distributions, including distributions of net long-term capital gain, would generally be taxable to its stockholders as ordinary dividend income to the extent of the Company’s current and accumulated earnings and profits. Subject to certain limitations under the Code, corporate stockholders would be eligible to claim a dividend received deduction with respect to such dividend; non-corporate stockholders would generally be able to treat such dividends as “qualified dividend income,” which is subject to reduced rates of U.S. federal income tax. Distributions in excess of the Company’s current and accumulated earnings and profits would be treated first as a return of capital to the extent of the stockholder’s adjusted tax basis, and any remaining distributions would be treated as a capital gain. In order to requalify as a RIC, in addition to the other requirements discussed above, the Company would be required to distribute all of its previously undistributed earnings attributable to the period it failed to qualify as a RIC by the end of the first year that it intends to requalify for tax treatment as a RIC. If the Company fails to requalify for tax treatment as a RIC for a period greater than two taxable years, it may be subject to regular corporate tax on any net built-in gains with respect to certain of its assets (i.e., the excess of the aggregate gains, including items of income, over aggregate losses that would have been realized with respect to such assets if the Company had been liquidated) that it elects to recognize on requalification or when recognized over the next five years. Refer to “Note 9—Income Taxes” for further details.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Per Share Information

Per Share Information

Net change in net assets resulting from operations per basic common share is computed using the weighted-average number of shares outstanding for the period presented. Diluted net change in net assets resulting from operations per common share is computed by dividing net increase/(decrease) in net assets resulting from operations for the period adjusted to include the pre-tax effects of interest incurred on potentially dilutive securities, by the weighted-average number of common shares outstanding plus any potentially dilutive shares outstanding during the period. The Company used the if-converted method in accordance with FASB ASC 260, Earnings Per Share (“ASC 260”) to determine the number of potentially dilutive shares outstanding. Refer to “Note 6—Net Increase in Net Assets Resulting from Operations per Common Share—Basic and Diluted” for further detail.

Recently Issued Accounting Standards

Recently Issued Accounting Standards

In June 2022, the FASB issued ASU No. 2022-03 “Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” This change prohibits entities from taking into account contractual restrictions on the sale of equity securities when estimating fair value and introduces required disclosures for such transactions. The standard is effective for annual periods beginning after December 15, 2023, and should be applied prospectively. Early adoption is permitted. The adoption of ASU 2022-03 is not expected to have a material impact on the Company’s future financial statements.

From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards and any that are not yet effective will not have a material impact on its consolidated financial statements upon adoption.

SUBSEQUENT EVENTS (Tables)

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

SCHEDULE OF INVESTMENTS

From July 1, 2023 through August 8, 2023, the Company exited or received proceeds from the following investments (excluding short-term U.S. Treasury investments):

SCHEDULE OF INVESTMENTS

Portfolio Company	Transaction Date	Shares Sold		Average Net Share Price ⁽¹⁾		Net Proceeds		Realized Loss⁽²⁾
Nextdoor Holdings, Inc.⁽³⁾	Various		589,996	$	3.09	$	1,820,302	$	(1,394,547	)
Residential Homes For Rent, LLC (d/b/a Second Avenue)⁽⁴⁾	7/24/2023		N/A		N/A		83,333		—
Total						$	1,903,635	$	(1,394,547	)

(1)	The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
(2)	Realized loss does not include adjustments to amounts held in escrow receivable.
(3)	As of August 8, 2023, SuRo Capital held 262,420 shares of Nextdoor Holdings, Inc. public common shares.
(4)	Subsequent to June 30, 2023, $0.1 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, $0.1 million repaid a portion of the outstanding principal and the remaining proceeds were attributed to interest.

INVESTMENT NOT INCLUDING CAPITALIZED TRANSACTION COSTS

From July 1, 2023 through August 8, 2023, the Company made the following investments (not including capitalized transaction costs).

Portfolio Company	Investment	Transaction Date	Amount
FourKites, Inc.	Common shares	Various	$	5,803,269
Shogun Enterprises, Inc. (d/b/a Hearth)	Preferred shares	7/12/2023		499,998
Stake Trade, Inc. (d/b/a Prophet Exchange)	Simple Agreement for Future Equity	7/26/2023		1,000,000
Total			$	7,303,267

Condensed Consolidated Statements of Assets and Liabilities (Unaudited) - USD ($)

Jun. 30, 2023

Dec. 31, 2022

Investments in U.S. Treasury bills (cost of $75,478,668 and $84,999,598, respectively)

$ 160,283,146

$ 157,188,578

75,895,534

85,056,817

Total Investments (cost of $284,571,254 and $301,128,106, respectively)

236,178,680

242,245,395

Cash

24,542,729

40,117,598

Proceeds receivable

664,470

Escrow proceeds receivable

375,965

628,332

Interest and dividends receivable

119,548

138,766

Deferred financing costs

590,430

555,761

Prepaid expenses and other assets

^[1]

485,171

727,006

Total Assets

262,956,993

284,412,858

LIABILITIES

Accounts payable and accrued expenses

^[1]

2,511,200

708,827

Dividends payable

188,357

296,170

6.00% Notes due December 30, 2026

^[2]

73,564,712

73,387,159

Total Liabilities

76,264,269

74,392,156

Commitments and contingencies (Notes 7 and 10)

Net Assets

186,692,724

210,020,702

NET ASSETS

Common stock, par value $0.01 per share (100,000,000 authorized; 25,398,640 and 28,429,499 issued and outstanding, respectively)

253,986

284,295

Paid-in capital in excess of par

318,605,100

330,899,254

Accumulated net investment loss

(72,859,710)

(64,832,605)

Accumulated net realized gain/(loss) on investments, net of distributions

(10,528,391)

2,552,465

Accumulated net unrealized appreciation/(depreciation) of investments

(48,778,261)

(58,882,707)

Net Assets

$ 186,692,724

$ 210,020,702

Net Asset Value Per Share

$ 7.35

$ 7.39

Non Controlled Non Affiliate Investments [Member]

$ 120,620,316

$ 130,901,546

11,546,197

12,591,162

Net asset value at beginning of the year

$ 28,116,633

$ 13,695,870

[1]	This balance includes a right of use asset and corresponding operating lease liability, respectively. Refer to “Note 7—Commitments and Contingencies—Operating Leases and Related Deposits” for more detail.
[2]	As of June 30, 2023, the 6.00% Notes due December 30, 2026 (effective interest rate of 6.53%) had a face value $75,000,000. As of December 31, 2022, the 6.00% Notes due December 30, 2026 (effective interest rate of 6.53%) had a face value $75,000,000. Refer to “Note 10—Debt Capital Activities” for a reconciliation of the carrying value to the face value.

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Insider Trading Arrangements [Line Items]
Material Terms of Trading Arrangement [Text Block]	For the period covered by this Quarterly Report on Form 10-Q, no director or officer of the Company has entered into any (i) contract, instruction or written plan for the purchase or sale of securities of the registrant intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act or (ii) any non-Rule 10b5-1 trading arrangement.
Non-Rule 10b5-1 Arrangement Adopted	false

SCHEDULE OF FINANCIAL HIGHLIGHTS (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Investment Company [Abstract]

$ 7.59

$ 12.22

$ 7.39

$ 11.72

Net investment loss

^[1]

(0.15)

(0.12)

(0.30)

(0.26)

Net realized gain/(loss) on investments

^[1]

(0.51)

(0.06)

(0.48)

0.04

Net change in unrealized appreciation/(depreciation) of investments

^[1]

0.06

(2.89)

0.37

(2.17)

Dividends declared

(0.11)

Issuance of common stock from public offering

^[1]

0.01

Repurchase of common stock

^[1]

0.33

0.07

0.33

(0.01)

Stock-based compensation

^[1]

0.03

0.02

0.04

0.02

Net asset value at end of period

7.35

9.24

7.35

9.24

Per share market value at end of period

$ 3.20

$ 6.40

$ 3.20

$ 6.40

Total return based on market value

^[2]

(11.60%)

(25.84%)

(15.79%)

(49.14%)

Total return based on net asset value

^[2]

(3.16%)

(24.39%)

(0.54%)

(20.22%)

25,398,640

30,325,187

25,398,640

30,325,187

Ratio of net operating expenses to average net assets

$ 186,692,724

$ 280,172,472

$ 186,692,724

$ 280,172,472

Average net assets

$ 205,097,855

$ 378,428,728

$ 207,210,870

$ 371,249,600

^[3]

10.13%

4.24%

10.41%

4.80%

Ratio of net investment loss to average net assets

^[3]

(7.44%)

(3.48%)

(7.81%)

(4.18%)

Portfolio Turnover Ratio

2.09%

1.57%

3.89%

2.05%

[1]	Based on weighted-average number of shares outstanding for the relevant period.
[2]	Total return based on market value is based upon the change in market price per share between the opening and ending market values per share in the period, adjusted for dividends and equity issuances. Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period, adjusted for dividends and equity issuances.
[3]	Financial highlights for periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.

SCHEDULE OF EQUITY INCENTIVE PLAN (Details) - Restricted Stock [Member]

6 Months Ended

Jun. 30, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number of restricted shares outstanding beginning

606,620

Number of shares granted

60,060

Number of shares vested

(168,306)

^[1]

Number of shares forfeited

Number of restricted shares outstanding ending

498,374

Number of shares vested

339,106

[1]	The balance of vested shares reflects the total shares vested during the period and has not been reduced for those vested shares forfeited at time of vest related to net share settlement.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2023

COMMITMENTS AND CONTINGENCIES

NOTE 7—COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Company may enter into investment agreements under which it commits to make an investment in a portfolio company at some future date or over a specified period of time. As of June 30, 2023, the Company had approximately $5.8 million in non-binding investment agreements that required it to make a future investment in a portfolio company.

From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of its rights under contracts with its portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect that these proceedings will have a material effect upon its business, financial condition or results of operations. The Company is not currently a party to any material legal proceedings.

Operating Leases and Related Deposits

The Company currently has one operating lease for office space for which the Company has recorded a right-of-use asset and lease liability for the operating lease obligation. The lease commenced June 3, 2019 and expires July 31, 2024. The lease expense is presented as a single lease cost that is amortized on a straight-line basis over the life of the lease.

As of June 30, 2023 and December 31, 2022, the Company booked a right-of-use asset and operating lease liability of $206,554 and $288,268, respectively, on the Condensed Consolidated Statement of Assets and Liabilities. As of June 30, 2023 and December 31, 2022, the Company recorded a security deposit of $16,574 and $16,574, respectively, on the Condensed Consolidated Statement of Assets and Liabilities. For the three months ended June 30, 2023 and 2022, the Company incurred $50,441 and $47,349, respectively, of operating lease expense. For the six months ended June 30, 2023 and 2022, the Company incurred $99,164 and $94,721, respectively, of operating lease expense. The amounts reflected on the Condensed Consolidated Statement of Assets and Liabilities have been discounted using the rate implicit in the lease. As of June 30, 2023, the remaining lease term was 1.1 years and the discount rate was 3.00%.

The following table shows future minimum payments under the Company’s operating lease as of June 30, 2023:


For the Years Ended December 31,	Amount
2023		96,547
2024		113,603
Total	$	210,150

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES (Details) (Parenthetical) - $ / shares

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Investments in and Advances to Affiliates [Line Items]

Non-Qualifying Assets [Member]

85.90%

74.80%

Investments in and Advances to Affiliates [Line Items]

20.76%

14.47%

Investments in and Advances to Affiliates [Line Items]

Non Controlled Affiliate Investments [Member] | Debt Investments [Member]

6.18%

^[1],[2]

6.00%

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Non Controlled Affiliate Investments [Member] | Options Held [Member]

0.51%

^[1],[2]

0.95%

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Non Controlled Affiliate Investments [Member] | Options Held [Member] | Global Innovation Platform [Member]

^[1],[2]

0.31%

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Non Controlled Affiliate Investments [Member] | Options Held [Member] | Global Innovation Platform [Member] | Derivative Security [Member]

^[1],[2]

0.31%

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Maturity date

Aug. 23, 2024

OneValley, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Debt Investments [Member]

Investments in and Advances to Affiliates [Line Items]

Maturity date

Aug. 23, 2024

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Common Warrants [Member] | Digital Media Platform [Member]

0.51%

^[1],[2],[5]

0.95%

^[3],[4],[6]

Investments in and Advances to Affiliates [Line Items]

Strike Price

$ 0.01

Warrant expiration date

Apr. 09, 2028

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Preferred Warrants [Member] | Digital Media Platform [Member]

^[1],[2],[7]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Strike Price

$ 2.31

Warrant expiration date

May 29, 2022

OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Global Innovation Platform [Member] | Derivative Security [Member]

Investments in and Advances to Affiliates [Line Items]

OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Preferred Warrant Series B Two Stock [Member] | Global Innovation Platform [Member]

^[1],[2]

0.31%

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Strike Price

$ 2.31

Warrant expiration date

Dec. 31, 2023

OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Preferred Warrants [Member] | Global Innovation Platform [Member]

^[1],[2]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Organization, Consolidation and Presentation of Financial Statements [Abstract]

^[3],[4]

[1]	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[2]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.
[3]	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[4]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.
[5]	As of June 30, 2023, the investments noted had been placed on non-accrual status.
[6]	As of December 31, 2022, the investments noted had been placed on non-accrual status.
[7]	On March 1, 2023, Ozy Media, Inc. suspended operations. On May 4, 2023, SuRo Capital Corp. abandoned its investment in Ozy Media, Inc.

NATURE OF OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2023

SCHEDULE OF COMPANY’S SUBSIDIARIES

Subsidiary	Jurisdiction of Incorporation	Formation Date	Percentage Owned
GCL	Delaware	April 13, 2012		100	%
SuRo Capital Sports, LLC (“SuRo Sports”)	Delaware	March 19, 2021		100	%
Subsidiaries below are referred to collectively, as the “Taxable Subsidiaries”
GSVC AE Holdings, Inc. (“GAE”)	Delaware	November 28, 2012		100	%
GSVC AV Holdings, Inc. (“GAV”)	Delaware	November 28, 2012		100	%
GSVC SW Holdings, Inc. (“GSW”)	Delaware	November 28, 2012		100	%
GSVC SVDS Holdings, Inc. (“SVDS”)	Delaware	August 13, 2013		100	%

SCHEDULE OF AGGREGATE VALUE OF ASSETS AND LIABILITIES (Details) (Parenthetical)	Dec. 31, 2022 $ / shares
Junior Preferred Warrants [Member]
Strike price	$ 12.42
Expiration Date	Nov. 09, 2025
Common Warrants [Member]
Strike price	$ 3.98
Expiration Date	Nov. 09, 2025

SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2—SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Basis of Consolidation

Use of Estimates

Uncertainties and Risk Factors

Investments at Fair Value

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Level 1—Valuations based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access at the measurement date.

	1.	The quarterly valuation process begins with each portfolio company or investment being initially valued by the internal investment professionals responsible for the portfolio investment;

	2.	Preliminary valuation estimates are then documented and discussed with senior management;

	3.	For all investments for which there are no readily available market quotations, the Valuation Committee engages an independent third-party valuation firm to conduct independent appraisals, review management’s preliminary valuations and make its own independent assessment;

	4.	The Valuation Committee applies the appropriate valuation methodology to each portfolio asset in a consistent manner, considers the inputs provided by management and the independent third-party valuation firm, discusses the valuations and recommends to the Company’s Board of Directors a fair value for each investment in the portfolio; and

	5.	The Company’s Board of Directors then discusses the valuations recommended by the Valuation Committee and determines in good faith the fair value of each investment in the portfolio.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Equity Investments

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Debt Investments

Options

Special Purpose Acquisition Companies

Venture Investment Funds

Portfolio Company Investment Classification

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Levelling Policy

Securities Transactions

Valuation of Other Financial Instruments

Cash

Escrow Proceeds Receivable

Deferred Financing Costs

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Operating Leases & Related Deposits

Stock-based Compensation

Revenue Recognition

Investment Transaction Costs and Escrow Deposits

Unrealized Appreciation or Depreciation of Investments

Unrealized appreciation or depreciation is calculated as the difference between the fair value of the investment and the cost basis of such investment.

U.S. Federal and State Income Taxes

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Per Share Information

Recently Issued Accounting Standards

SCHEDULE OF INVESTMENTS IN AND ADVANCES TO AFFILIATES (Details) - USD ($)

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2022

Mar. 31, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Investments in and Advances to Affiliates [Line Items]

$ 157,188,578

$ (13,270,199)

189,343

$ (1,966,225)

$ 3,096,275

(13,080,856)

$ 1,130,050

1,455,515

8,648,931

$ (88,562,575)

21,584,885

10,104,446

(66,977,690)

$ 160,283,146

$ 157,188,578

85.90%

74.80%

Investments in and Advances to Affiliates [Line Items]

$ 554,425

^[1],[2]

$ 1,685,000

^[3],[4]

13,695,870

^[1],[2]

13,758,874

^[3],[4]

13,695,870

^[1],[2]

13,758,874

^[3],[4]

13,758,874

^[3],[4]

^[1],[2]

^[3],[4]

14,420,763

^[1],[2]

(63,004)

^[3],[4]

^[1],[2]

$ 28,116,633

$ 13,695,870

15.06%

^[1],[2]

15.06%

^[1],[2]

6.52%

^[3],[4]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4]

^[3],[4]

Controlled Investments [Member] | Options Held [Member]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

^[1],[2]

^[3],[4]

1,157,487

^[1],[2]

1,157,487

^[3],[4]

1,157,487

^[1],[2]

1,157,487

^[3],[4]

1,157,487

^[3],[4]

^[1],[2]

^[3],[4]

1,083,513

^[1],[2]

^[3],[4]

^[1],[2]

$ 2,241,000

$ 1,157,487

1.20%

^[1],[2]

1.20%

^[1],[2]

0.55%

^[3],[4]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4]

^[3],[4]

Controlled Investments [Member] | Preferred Stock [Member]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

^[1],[2]

^[3],[4]

984,028

^[1],[2]

1,047,033

^[3],[4]

984,028

^[1],[2]

1,047,033

^[3],[4]

1,047,033

^[3],[4]

^[1],[2]

^[3],[4]

(50,000)

^[1],[2]

(63,005)

^[3],[4]

^[1],[2]

$ 934,028

$ 984,028

0.50%

^[1],[2]

0.50%

^[1],[2]

0.47%

^[3],[4]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4]

^[3],[4]

Controlled Investments [Member] | Common Stock [Member]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

$ 554,425

^[1],[2]

1,685,000

^[3],[4]

11,554,355

^[1],[2]

11,554,354

^[3],[4]

11,554,355

^[1],[2]

11,554,354

^[3],[4]

11,554,354

^[3],[4]

^[1],[2]

^[3],[4]

13,387,250

^[1],[2]

^[3],[4]

^[1],[2]

$ 24,941,605

$ 11,554,355

13.36%

^[1],[2]

13.36%

^[1],[2]

5.50%

^[3],[4]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4]

^[3],[4]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

12,591,162

^[1],[5]

14,609,089

^[3],[6]

12,591,162

^[1],[5]

14,609,089

^[3],[6]

14,609,089

^[3],[6]

(10,945,025)

^[1],[5]

(70,379)

^[3],[6]

9,900,060

^[1],[5]

(1,947,548)

^[3],[6]

^[1],[5]

$ 11,546,197

$ 12,591,162

6.18%

^[1],[5]

6.18%

^[1],[5]

6.00%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Options Held [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

652,127

^[1],[5]

2,273,268

^[3],[6]

652,127

^[1],[5]

2,273,268

^[3],[6]

2,273,268

^[3],[6]

(30,647)

^[1],[5]

(70,379)

^[3],[6]

(621,480)

^[1],[5]

(1,550,762)

^[3],[6]

^[1],[5]

$ 652,127

^[1],[5]

0.31%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Options Held [Member] | Global Innovation Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

652,127

^[1],[5]

2,273,268

^[3],[6]

652,127

^[1],[5]

2,273,268

^[3],[6]

2,273,268

^[3],[6]

^[1],[5]

(70,379)

^[3],[6]

(652,127)

^[1],[5]

(1,550,762)

^[3],[6]

^[1],[5]

$ 652,127

^[1],[5]

0.31%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Preferred Stock [Member]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

9,950,835

^[1],[5]

11,830,722

^[3],[6]

9,950,835

^[1],[5]

11,830,722

^[3],[6]

11,830,722

^[3],[6]

(10,914,377)

^[1],[5]

^[3],[6]

11,549,348

^[1],[5]

(1,879,887)

^[3],[6]

^[1],[5]

$ 10,585,806

$ 9,950,835

5.67%

^[1],[5]

5.67%

^[1],[5]

4.74%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Knowledge Networks [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Digital Media Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

(10,914,377)

^[1],[5]

^[3],[6]

10,914,377

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Interactive Learning [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

9,950,835

^[1],[5]

11,830,722

^[3],[6]

9,950,835

^[1],[5]

11,830,722

^[3],[6]

11,830,722

^[3],[6]

^[1],[5]

^[3],[6]

634,971

^[1],[5]

(1,879,887)

^[3],[6]

^[1],[5]

$ 10,585,806

$ 9,950,835

5.67%

^[1],[5]

5.67%

^[1],[5]

4.74%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Common Stock [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Non Controlled Affiliate Investments [Member] | Debt Investments [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

1,988,200

^[1],[5]

505,099

^[3],[6]

1,988,200

^[1],[5]

505,099

^[3],[6]

505,099

^[3],[6]

^[1],[5]

^[3],[6]

(1,027,809)

^[1],[5]

1,483,101

^[3],[6]

^[1],[5]

$ 960,391

$ 1,988,200

0.51%

^[1],[5]

0.51%

^[1],[5]

0.95%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Colombier Sponsor LLC [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

Colombier Sponsor LLC [Member] | Controlled Investments [Member] | Options Held [Member]

$ 17,182,605

Investments in and Advances to Affiliates [Line Items]

2,700,000

^{[1],[2],[7],[8]}

2,700,000

^{[1],[2],[7],[8]}

2,700,000

^[3],[4],[9]

^{[1],[2],[7],[8]}

^[4],[9],[10]

^[9]

1,157,487

^{[1],[2],[7],[8]}

1,157,487

^[3],[4]

1,157,487

^{[1],[2],[7],[8]}

1,157,487

^[3],[4]

1,157,487

^[3],[4]

^{[1],[2],[7],[8]}

^[3],[4],[9]

1,083,513

^{[1],[2],[7],[8]}

^[3],[4],[9]

^{[1],[2],[7],[8]}

$ 2,241,000

$ 1,157,487

^[9]

1.20%

^{[1],[2],[7],[8]}

1.20%

^{[1],[2],[7],[8]}

0.55%

^[3],[4],[9]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4],[9]

^[3],[4],[9]

Colombier Sponsor LLC [Member] | Controlled Investments [Member] | Common Stock [Member]

^[3],[4],[9]

Investments in and Advances to Affiliates [Line Items]

1,976,032

^{[1],[2],[7],[8]}

1,976,032

^{[1],[2],[7],[8]}

1,976,033

^[3],[4],[9]

^{[1],[2],[7],[8]}

^[3],[4],[9]

^[9]

1,554,355

^{[1],[2],[7],[8]}

1,554,354

^[3],[4]

1,554,355

^{[1],[2],[7],[8]}

1,554,354

^[3],[4]

1,554,354

^[3],[4]

^{[1],[2],[7],[8]}

^[3],[4],[9]

13,387,250

^{[1],[2],[7],[8]}

^[3],[4],[9]

^{[1],[2],[7],[8]}

$ 14,941,605

$ 1,554,355

^[9]

8.00%

^{[1],[2],[7],[8]}

8.00%

^{[1],[2],[7],[8]}

0.74%

^[3],[4],[9]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4],[9]

^[3],[4],[9]

SPBRX Inc [Member] | Controlled Investments [Member] | Preferred Stock [Member]

^[3],[4],[9]

Investments in and Advances to Affiliates [Line Items]

14,300,000

^[1],[2],[11]

14,300,000

^[1],[2],[11]

14,300,000

^[3],[4]

^[1],[2],[11]

^[3],[4],[12]

984,028

^[1],[2],[11]

1,047,033

^[3],[4],[12]

984,028

^[1],[2],[11]

1,047,033

^[3],[4],[12]

1,047,033

^[3],[4],[12]

^[1],[2],[11]

^[3],[4],[12]

(50,000)

^[1],[2],[11]

(63,005)

^[3],[4],[12]

^[1],[2],[11]

$ 934,028

$ 984,028

0.50%

^[1],[2],[11]

0.50%

^[1],[2],[11]

0.47%

^[3],[4],[12]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4],[12]

^[3],[4],[12]

SPBRX Inc [Member] | Controlled Investments [Member] | Common Stock [Member]

^[3],[4],[12]

Investments in and Advances to Affiliates [Line Items]

100,000

^[1],[2]

100,000

^[1],[2]

100,000

^[3],[4]

^[1],[2]

^[3],[4]

^[1],[2]

^[3],[4]

^[1],[2]

^[3],[4]

^[1],[2]

^[3],[4]

^[1],[2]

^[3],[4]

^[1],[2]

^[1],[2]

^[3],[4]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4]

^[3],[4]

Architect Capital PayJoy SPV, LLC [Member]

^[3],[4]

Investments in and Advances to Affiliates [Line Items]

Architect Capital PayJoy SPV, LLC [Member] | Controlled Investments [Member] | Membership [Member]

$ 10,000,000

Investments in and Advances to Affiliates [Line Items]

10,000,000

^{[1],[2],[7],[8],[13]}

10,000,000

^{[1],[2],[7],[8],[13]}

10,000,000

^[3],[4],[10]

$ 554,425

^{[1],[2],[7],[8],[13]}

$ 1,685,000

^[3],[4],[10]

10,000,000

^{[1],[2],[7],[8],[13]}

10,000,000

^[3],[4],[10]

10,000,000

^{[1],[2],[7],[8],[13]}

10,000,000

^[3],[4],[10]

10,000,000

^[3],[4],[10]

^{[1],[2],[7],[8],[13]}

^[3],[4],[10]

^{[1],[2],[7],[8],[13]}

^[3],[4],[10]

^{[1],[2],[7],[8],[13]}

$ 10,000,000

5.36%

^{[1],[2],[7],[8],[13]}

5.36%

^{[1],[2],[7],[8],[13]}

4.76%

^[3],[4],[10]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[4],[10]

^[3],[4],[10]

OneValley, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Debt Investments [Member]

^[3],[4],[10]

Investments in and Advances to Affiliates [Line Items]

1,010,198

^[1],[5],[14]

1,010,198

^[1],[5],[14]

1,010,198

^[3],[6],[15]

^[1],[5],[14]

^[3],[6],[15]

^[15]

1,988,200

^[1],[5],[14]

505,099

^[3],[6]

1,988,200

^[1],[5],[14]

505,099

^[3],[6]

505,099

^[3],[6]

^[1],[5],[14]

^[3],[6],[15]

(1,027,809)

^[1],[5],[14]

1,483,101

^[3],[6],[15]

^[1],[5],[14]

$ 960,391

$ 1,988,200

^[15]

0.51%

^[1],[5],[14]

0.51%

^[1],[5],[14]

0.95%

^[3],[6],[15]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6],[15]

^[3],[6],[15]

Maven Research Inc [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Series C Preferred Stock [Member] | Knowledge Networks [Member]

^[3],[6],[15]

Investments in and Advances to Affiliates [Line Items]

318,979

^[1],[5]

318,979

^[1],[5]

318,979

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Maven Research Inc [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Series B Preferred Stock [Member] | Knowledge Networks [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

49,505

^[1],[5]

49,505

^[1],[5]

49,505

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Common Warrants [Member] | Digital Media Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5],[16]

295,565

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

(30,647)

^[1],[5],[16]

^[3],[6]

30,647

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[1],[5],[16]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series C-2 6% [Member] | Digital Media Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5],[16]

683,482

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

(2,414,178)

^[1],[5],[16]

^[3],[6]

2,414,178

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[1],[5],[16]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series B 6% [Member] | Digital Media Platform [Member]

Investments in and Advances to Affiliates [Line Items]

^[1],[5],[16]

922,509

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

(4,999,999)

^[1],[5],[16]

^[3],[6]

4,999,999

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[1],[5],[16]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series A 6% [Member] | Digital Media Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5],[16]

1,090,909

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

(3,000,200)

^[1],[5],[16]

^[3],[6]

3,000,200

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[1],[5],[16]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Ozy Media, Inc. [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series Seed 6% [Member] | Digital Media Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[1],[5],[16]

500,000

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[3],[6]

(500,000)

^[1],[5],[16]

^[3],[6]

500,000

^[1],[5],[16]

^[3],[6]

^[1],[5],[16]

^[1],[5],[16]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

StormWind, LLC [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series D 8% [Member] | Interactive Learning [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

329,337

^[1],[5],[17]

329,337

^[1],[5],[17]

329,337

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

533,429

^[1],[5],[17]

621,093

^[3],[6],[18]

533,429

^[1],[5],[17]

621,093

^[3],[6],[18]

621,093

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

29,610

^[1],[5],[17]

(87,664)

^[3],[6],[18]

^[1],[5],[17]

$ 563,039

$ 533,429

0.30%

^[1],[5],[17]

0.30%

^[1],[5],[17]

0.25%

^[3],[6],[18]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6],[18]

^[3],[6],[18]

StormWind, LLC [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series C 8% [Member] | Interactive Learning [Member]

Investments in and Advances to Affiliates [Line Items]

2,779,134

^[1],[5],[17]

2,779,134

^[1],[5],[17]

2,779,134

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

5,675,081

^[1],[5],[17]

6,496,729

^[3],[6],[18]

5,675,081

^[1],[5],[17]

6,496,729

^[3],[6],[18]

6,496,729

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

277,529

^[1],[5],[17]

(821,648)

^[3],[6],[18]

^[1],[5],[17]

$ 5,952,610

$ 5,675,081

3.19%

^[1],[5],[17]

3.19%

^[1],[5],[17]

2.70%

^[3],[6],[18]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6],[18]

^[3],[6],[18]

StormWind, LLC [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series B 8% [Member] | Interactive Learning [Member]

^[3],[6],[18]

Investments in and Advances to Affiliates [Line Items]

3,279,629

^[1],[5],[17]

3,279,629

^[1],[5],[17]

3,279,629

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

3,550,631

^[1],[5],[17]

4,423,607

^[3],[6],[18]

3,550,631

^[1],[5],[17]

4,423,607

^[3],[6],[18]

4,423,607

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

294,866

^[1],[5],[17]

(872,976)

^[3],[6],[18]

^[1],[5],[17]

$ 3,845,497

$ 3,550,631

2.06%

^[1],[5],[17]

2.06%

^[1],[5],[17]

1.69%

^[3],[6],[18]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6],[18]

^[3],[6],[18]

StormWind, LLC [Member] | Non Controlled Affiliate Investments [Member] | Preferred Stock [Member] | Preferred Shares, Series A 8% [Member] | Interactive Learning [Member]

^[3],[6],[18]

Investments in and Advances to Affiliates [Line Items]

366,666

^[1],[5],[17]

366,666

^[1],[5],[17]

366,666

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

191,694

^[1],[5],[17]

289,293

^[3],[6],[18]

191,694

^[1],[5],[17]

289,293

^[3],[6],[18]

289,293

^[3],[6],[18]

^[1],[5],[17]

^[3],[6],[18]

32,966

^[1],[5],[17]

(97,599)

^[3],[6],[18]

^[1],[5],[17]

$ 224,660

$ 191,694

0.12%

^[1],[5],[17]

0.12%

^[1],[5],[17]

0.09%

^[3],[6],[18]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6],[18]

^[3],[6],[18]

OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Global Innovation Platform [Member] | Derivative Security [Member]

^[3],[6],[18]

Investments in and Advances to Affiliates [Line Items]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

652,127

^[1],[5]

2,268,268

^[3],[6]

652,127

^[1],[5]

2,268,268

^[3],[6]

2,268,268

^[3],[6]

^[1],[5]

^[3],[6]

(652,127)

^[1],[5]

(1,616,141)

^[3],[6]

^[1],[5]

$ 652,127

^[1],[5]

0.31%

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[3],[6]

250,000

^[1],[5]

250,000

^[1],[5]

250,000

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

5,000

^[3],[6]

^[1],[5]

5,000

^[3],[6]

5,000

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

(5,000)

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

OneValley, Inc. (f/k/a NestGSV, Inc) [Member] | Non Controlled Affiliate Investments [Member] | Options Held [Member] | Preferred Warrants [Member] | Global Innovation Platform [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

^[3],[6]

^[3],[6]

^[3],[6]

^[3],[6]

(70,379)

^[3],[6]

70,379

^[3],[6]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

Curious.Com Inc [Member] | Non Controlled Affiliate Investments [Member] | Common Stock [Member] | Online Education [Member]

^[3],[6]

Investments in and Advances to Affiliates [Line Items]

1,135,944

^[1],[5]

1,135,944

^[1],[5]

1,135,944

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[3],[6]

^[1],[5]

^[1],[5]

^[3],[6]

Purchases, Capitalized Fees, Interest and Amortization

^[3],[6]

^[3],[6]

^[3],[6]

[1]	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[2]	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company.
[3]	All portfolio investments are non-income-producing, unless otherwise identified. Equity investments are subject to lock-up restrictions upon their IPO. Preferred dividends are generally only payable when declared and paid by the portfolio company’s board of directors. The Company’s directors, officers, employees and staff, as applicable, may serve on the board of directors of the Company’s portfolio investments. (Refer to “Note 3—Related-Party Arrangements”). All portfolio investments are considered Level 3 and valued using significant unobservable inputs, unless otherwise noted. (Refer to “Note 4—Investments at Fair Value”). All portfolio investments are considered Level 3 and valued using unobservable inputs, unless otherwise noted. All of the Company’s portfolio investments are restricted as to resale, unless otherwise noted, and were valued at fair value as determined in good faith by the Company’s Board of Directors. (Refer to “Note 2—Significant Accounting Policies—Investments at Fair Value”).
[4]	“Control Investments” are investments in those companies that are “Controlled Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, under the 1940 Act, the Company would “Control” a portfolio company if the Company beneficially owns, directly or indirectly, more than 25% of its outstanding voting securities (i.e., securities with the right to elect directors) and/or had the power to exercise control over the management or policies of such portfolio company.
[5]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.
[6]	“Affiliate Investments” are investments in those companies that are “Affiliated Companies” of SuRo Capital Corp., as defined in the 1940 Act. In general, a company is deemed to be an “Affiliate” of SuRo Capital Corp. if SuRo Capital Corp. beneficially owns, directly or indirectly, between 5% and 25% of the voting securities (i.e., securities with the right to elect directors) of such company.
[7]	Colombier Sponsor LLC is the sponsor of Colombier Acquisition Corp., a SPAC formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
[8]	Indicates assets that SuRo Capital Corp. believes do not represent “qualifying assets” under Section 55(a) of the 1940 Act. Of the Company’s total investments as of June 30, 2023, 20.76% of its total investments are non-qualifying assets.
[9]	Colombier Sponsor LLC is the sponsor of Colombier Acquisition Corp., a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
[10]	Investment is income-producing.
[11]	The SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) preferred shares held by SuRo Capital Corp. do not entitle SuRo Capital Corp. to a preferred dividend rate. SuRo Capital Corp. does not anticipate that SPBRX, INC. will pay distributions on a quarterly or regular basis or become a predictable distributor of distributions.
[12]	The SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.) preferred shares held by SuRo Capital Corp. do not entitle SuRo Capital Corp. to a preferred dividend rate. SuRo Capital Corp. does not anticipate that SPBRX, INC. will pay distributions on a quarterly or regular basis or become a predictable distributor of distributions.
[13]	Investment is income-producing.
[14]	As of June 30, 2023, the investments noted had been placed on non-accrual status.
[15]	As of December 31, 2022, the investments noted had been placed on non-accrual status.
[16]	On March 1, 2023, Ozy Media, Inc. suspended operations. On May 4, 2023, SuRo Capital Corp. abandoned its investment in Ozy Media, Inc.
[17]	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.
[18]	SuRo Capital Corp.’s investments in StormWind, LLC are held through SuRo Capital Corp.’s wholly owned subsidiary, GSVC SW Holdings, Inc.

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Jun. 03, 2019
Accounting Policies [Abstract]
Escrow proceeds receivable	$ 375,965	$ 628,332
Deferred financing costs	590,430	555,761
Operating leases, term of contract			5 years
Escrow deposits	$ 0	$ 0

Condensed Consolidated Schedule of Investments (Unaudited) (Parenthetical) $ in Millions	Jan. 13, 2023 USD ($)
Orchard Technologies, Inc. [Member]
Schedule of Investments [Line Items]
Proceeds from investment	$ 2.0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Net Change in Net Assets Resulting from Operations per Common Share:

FINANCIAL HIGHLIGHTS

6 Months Ended

Jun. 30, 2023

Investment Company [Abstract]

FINANCIAL HIGHLIGHTS

NOTE 8—FINANCIAL HIGHLIGHTS

SCHEDULE OF FINANCIAL HIGHLIGHTS


	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Per Basic Share Data
Net asset value at beginning of the year	$	7.59		$	12.22		$	7.39		$	11.72
Net investment loss⁽¹⁾		(0.15	)		(0.12	)		(0.30	)		(0.26	)
Net realized gain/(loss) on investments⁽¹⁾		(0.51	)		(0.06	)		(0.48	)		0.04
Net change in unrealized appreciation/(depreciation) of investments⁽¹⁾		0.06			(2.89	)		0.37			(2.17	)
Dividends declared		—			—			—			(0.11	)
Issuance of common stock from public offering⁽¹⁾		—			—			—			0.01
Repurchase of common stock⁽¹⁾		0.33			0.07			0.33			(0.01	)
Stock-based compensation⁽¹⁾		0.03			0.02			0.04			0.02
Net asset value at end of period	$	7.35		$	9.24		$	7.35		$	9.24
Per share market value at end of period	$	3.20		$	6.40		$	3.20		$	6.40
Total return based on market value⁽²⁾		(11.60	)%		(25.84	)%		(15.79	)%		(49.14	)%
Total return based on net asset value⁽²⁾		(3.16	)%		(24.39	)%		(0.54	)%		(20.22	)%
Shares outstanding at end of period		25,398,640			30,325,187			25,398,640			30,325,187
Ratios/Supplemental Data:
Net assets at end of period	$	186,692,724		$	280,172,472		$	186,692,724		$	280,172,472
Average net assets	$	205,097,855		$	378,428,728		$	207,210,870		$	371,249,600
Ratio of net operating expenses to average net assets⁽³⁾		10.13	%		4.24	%		10.41	%		4.80	%
Ratio of net investment loss to average net assets⁽³⁾		(7.44	)%		(3.48	)%		(7.81	)%		(4.18	)%
Portfolio Turnover Ratio		2.09	%		1.57	%		3.89	%		2.05	%

(1)	Based on weighted-average number of shares outstanding for the relevant period.
(2)	Total return based on market value is based upon the change in market price per share between the opening and ending market values per share in the period, adjusted for dividends and equity issuances. Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period, adjusted for dividends and equity issuances.
(3)	Financial highlights for periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

SCHEDULE OF COMPANY’S SUBSIDIARIES (Details)	6 Months Ended
SCHEDULE OF COMPANY’S SUBSIDIARIES (Details)	Jun. 30, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	MD
GCL [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Apr. 13, 2012
Percentage Owned	100.00%
SuRo Capital Sports LLC (SuRo Sports) [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Mar. 19, 2021
Percentage Owned	100.00%
GSVC AE Holdings Inc (GAE) [Member] \| Taxable Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Nov. 28, 2012
Percentage Owned	100.00%
GSVC AV Holdings Inc (GAV) [Member] \| Taxable Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Nov. 28, 2012
Percentage Owned	100.00%
GSVC SW Holdings Inc (GSW) [Member] \| Taxable Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Nov. 28, 2012
Percentage Owned	100.00%
GSVC SVDS Holdings Inc (SVDS) [Member] \| Taxable Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Jurisdiction of Incorporation	DE
Formation Date	Aug. 13, 2013
Percentage Owned	100.00%

NET CHANGE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE—BASIC AND DILUTED

6 Months Ended

Jun. 30, 2023

NET CHANGE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE—BASIC AND DILUTED

NOTE 6—NET CHANGE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE—BASIC AND DILUTED


	Three Months Ended June 30,							Six Months Ended June 30,
	2023			2022			2023			2022
Earnings per common share–basic:
Net change in net assets resulting from operations	$	(15,620,024	)	$	(94,339,688	)	$	(11,003,515	)	$	(73,883,233	)
Weighted-average common shares–basic		25,952,447			30,633,878			27,158,786			30,929,321
Earnings per common share–basic	$	(0.60	)	$	(3.08	)	$	(0.41	)	$	(2.39	)
Earnings per common share–diluted:
Net change in net assets resulting from operations	$	(15,620,024	)	$	(94,339,688	)	$	(11,003,515	)	$	(73,883,233	)
Weighted-average common shares outstanding–diluted⁽¹⁾		25,952,447			30,633,878			27,158,786			30,929,321
Earnings per common share–diluted	$	(0.60	)	$	(3.08	)	$	(0.41	)	$	(2.39	)

(1)	For the three and six months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

SUPPLEMENTAL FINANCIAL DATA

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL FINANCIAL DATA

NOTE 13—SUPPLEMENTAL FINANCIAL DATA

Summarized Financial Information of Unconsolidated Subsidiaries

In accordance with the SEC’s Regulation S-X and GAAP, the Company is not permitted to consolidate any subsidiary or other entity that is not an investment company, including those in which the Company has a controlling interest; however, the Company must disclose certain financial information related to any subsidiaries or other entities that are considered to be “significant subsidiaries” under the applicable rules of Regulation S-X.

In May 2020, the SEC adopted rule amendments that impacted the requirement of investment companies, including BDCs, to disclose the financial statements of certain of their portfolio companies or acquired funds (the “Final Rules”). The Final Rules adopted a new definition of “significant subsidiary” set forth in Rule 1-02(w)(2) of Regulation S-X under the Securities Act. Rules 3-09 and 4-08(g) of Regulation S-X require investment companies to include separate financial statements or summary financial information, respectively, in such investment company’s periodic reports for any portfolio company that meets the definition of “significant subsidiary.” The Final Rules amended the definition of “significant subsidiary” in a manner that was intended to more accurately capture those portfolio companies that were more likely to materially impact the financial condition of an investment company.

The Company’s three controlled portfolio companies as of June 30, 2023, SPBRX, INC. (f/k/a GSV Sustainability Partners, Inc.), Architect Capital PayJoy SPV, LLC and Colombier Sponsor LLC, did not meet the definition of a “significant subsidiary” as set forth in Rule 1-02(w)(2). For comparability purposes, the Company has omitted the previously disclosed summarized financial information of the Company’s significant subsidiaries for the quarter ended June 30, 2022 as the Company’s significant subsidiaries would not have been considered significant subsidiaries under the Final Rules.

Condensed Consolidated Statements of Changes in Net Assets (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2022

Mar. 31, 2022

Jun. 30, 2023

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Change in Net Assets Resulting from Operations

$ 215,043,069

$ 210,020,702

$ 380,701,528

$ 364,846,624

$ 210,020,702

$ 364,846,624

Net investment loss

(3,805,340)

(4,221,765)

(3,810,888)

(4,224,705)

(8,027,105)

(8,035,593)

Net realized gain/(loss) on investments

(13,270,199)

189,343

(1,966,225)

3,096,275

(13,080,856)

1,130,050

Net change in unrealized appreciation/(depreciation) of investments

1,455,515

8,648,931

(88,562,575)

21,584,885

10,104,446

(66,977,690)

Net Change in Net Assets Resulting from Operations

(15,620,024)

4,616,509

(94,339,688)

20,456,455

(11,003,515)

(73,883,233)

Distributions

Dividends declared

(3,441,824)

Total Distributions

(3,441,824)

Change in Net Assets Resulting from Capital Transactions

Issuance of common stock from public offering

229,896

Stock-based compensation

769,679

405,858

^[1]

703,566

(30,016)

^[1]

Repurchases of common stock

(13,500,000)

(6,892,934)

(1,359,607)

Net Change in Net Assets Resulting from Capital Transactions

(12,730,321)

405,858

(6,189,368)

(1,159,727)

Total Change in Net Assets

(28,350,345)

5,022,367

(100,529,056)

15,854,904

Shares outstanding at beginning of period

$ 186,692,724

$ 215,043,069

$ 280,172,472

$ 380,701,528

$ 186,692,724

$ 280,172,472

Capital Share Activity

28,429,499

31,118,556

28,429,499

31,118,556

Issuance of common stock from public offering, shares

17,807

Issuance of common stock under restricted stock plan, net, shares

^[1]

(30,859)

(197,500)

Issuance of common stock under restricted stock plan, net, shares

^[1]

30,859

197,500

Shares repurchased, shares

(3,000,000)

(1,008,676)

25,398,640

30,325,187

25,398,640

30,325,187

[1]	Refer to “Note 11 — Stock-Based Compensation” for more detail.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 12—SUBSEQUENT EVENTS

Portfolio Activity

From July 1, 2023 through August 8, 2023, the Company exited or received proceeds from the following investments (excluding short-term U.S. Treasury investments):

SCHEDULE OF INVESTMENTS

Portfolio Company	Transaction Date	Shares Sold		Average Net Share Price ⁽¹⁾		Net Proceeds		Realized Loss⁽²⁾
Nextdoor Holdings, Inc.⁽³⁾	Various		589,996	$	3.09	$	1,820,302	$	(1,394,547	)
Residential Homes For Rent, LLC (d/b/a Second Avenue)⁽⁴⁾	7/24/2023		N/A		N/A		83,333		—
Total						$	1,903,635	$	(1,394,547	)

(1)	The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
(2)	Realized loss does not include adjustments to amounts held in escrow receivable.
(3)	As of August 8, 2023, SuRo Capital held 262,420 shares of Nextdoor Holdings, Inc. public common shares.
(4)	Subsequent to June 30, 2023, $0.1 million has been received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, $0.1 million repaid a portion of the outstanding principal and the remaining proceeds were attributed to interest.

From July 1, 2023 through August 8, 2023, the Company made the following investments (not including capitalized transaction costs).

Portfolio Company	Investment	Transaction Date	Amount
FourKites, Inc.	Common shares	Various	$	5,803,269
Shogun Enterprises, Inc. (d/b/a Hearth)	Preferred shares	7/12/2023		499,998
Stake Trade, Inc. (d/b/a Prophet Exchange)	Simple Agreement for Future Equity	7/26/2023		1,000,000
Total			$	7,303,267

The Company is frequently in negotiations with various private companies with respect to investments in such companies. Investments in private companies are generally subject to satisfaction of applicable closing conditions. In the case of secondary market transactions, such closing conditions may include approval of the issuer, waiver or failure to exercise rights of first refusal by the issuer and/or its stockholders and termination rights by the seller or the Company. Equity investments made through the secondary market may involve making deposits in escrow accounts until the applicable closing conditions are satisfied, at which time the escrow accounts will close and such equity investments will be effectuated.

Share Repurchase Program

On August 7, 2023, the Company’s Board of Directors authorized an extension of, and a $5.0 million increase in the amount of shares that may be repurchased under, the Company’s discretionary Share Repurchase Program until the earlier of (i) October 31, 2024 or (ii) the repurchase of $60.0 million in aggregate amount of the Company’s common stock.

The timing and number of shares to be repurchased pursuant to the Company’s discretionary Share Repurchase Program will depend on a number of factors, including market conditions and alternative investment opportunities. The Share Repurchase Program may be suspended, terminated or modified at any time for any reason and does not obligate the Company to acquire any specific number of shares of its common stock. Under the Share Repurchase Program, the Company may repurchase its outstanding common stock in the open market, provided that it complies with the prohibitions under its insider trading policies and procedures and the applicable provisions of the 1940 Act and the Exchange Act.

As of August 8, 2023, the dollar value of shares that remained available to be purchased by the Company under the Share Repurchase Program was approximately $21.4 million.

SURO CAPITAL CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2023

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 08, 2023
Document Type	10-Q
Document Quarterly Report	true
Entity Registrant Name	SuRo Capital Corp.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-4443543
Entity Address, Address Line One	640 Fifth Avenue
Entity Address, Address Line Two	12th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(212)
Local Phone Number	931-6331
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,398,640
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Entity Central Index Key	0001509470
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Transition Report	false
Entity File Number	814-00852
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Common Stock Par Value 0.01 Per Share [Member]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SSSS
Security Exchange Name	NASDAQ
6.00% Notes due 2026 [Member]
Title of 12(b) Security	6.00% Notes due 2026
Trading Symbol	SSSSL
Security Exchange Name	NASDAQ

Condensed Consolidated Statements of Assets and Liabilities (Unaudited) (Parenthetical) - USD ($)

Jun. 30, 2023

Dec. 31, 2022

Common stock, shares authorized

Common stock, par value

$ 0.01

100,000,000

Common stock, shares issued

25,398,640

28,429,499

Common stock, shares outstanding

25,398,640

28,429,499

Debt instrument interest rate

6.00%

Debt instrument effective interest rate

6.53%

Debt instrument face amount

$ 75,000,000

US Treasury Bill Securities [Member]

Non Controlled Non Affiliate Investments [Member]

75,478,668

84,999,598

159,012,912

155,103,810

30,195,780

41,140,804

19,883,894