About Blue Owl Technology Finance Corp.

The largest technology-focused BDC

Blue Owl Technology Finance Corp. (NYSE: OTF) is a business development company (BDC) formed primarily to originate and make loans to and make debt and equity investments in, technology-related companies based primarily in the United States, with an emphasis on enterprise software investments. Our investment objective is to maximize total return by generating current income from debt investments and other income producing securities, and capital appreciation from our equity and equity-linked investments.

OTF is externally managed by Blue Owl Technology Credit Advisors LLC, an indirect affiliate of Blue Owl Capital Inc. (NYSE: OWL) and a part of Blue Owl's Credit platform. Blue Owl offers investors differentiated investment opportunities that aim to deliver strong performance, risk-adjusted returns and capital preservation.

Our investment approach

  • We originate, execute, and manage debt and equity investments in predominantly U.S. upper middle-market technology-related companies, with a strategic focus on software
  • We invest in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities and warrants
  • We prioritize long-term credit performance and principal protection through a highly diversified portfolio of large borrowers with low loan-to-values weighted towards non-cyclical, defensive industries
  • We are long-term investors with capacity to provide sizable commitments to support the growth-related needs of market-leading software businesses
  • We seek to provide certainty, speed, and transparency throughout the entire investment process

Our investment criteria1

  • Companies with proven track records, attractive cash flow dynamics and favorable attributes
  • Companies that are market leaders with strong competitive positioning in attractive verticals
  • Companies that provide mission critical services and products that are crucial elements of business workflows
  • Companies with experienced management teams and strong historical track record of growth
  • Companies with diverse customer bases, high revenue retention and customer lifetime values with respect to cost of acquisition
  • Investments with maturities typically between three and ten years with lower loan-to-values
  • Investments generally ranging in size between $50 million and $350 million

What do our portfolio companies use our capital for?

  • Growth
  • Acquisitions
  • Market or product expansion
  • Refinancing
  • Recapitalizations

  1. Not all of these criteria will be met or will be equally important in connection with each of our investments.

OTF at a glance

$12.1B

Portfolio size (at fair value)

181

Portfolio companies

Learn more about our portfolio View our portfolio holdings

As of March 31, 2025 •  Q1 2025 10-Q
For complete information regarding our financials, see our periodic filings.

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Our differentiated direct lending advantage

Lender of choice for financial sponsors

  • We are a scaled direct lending business with a $12.1 billion portfolio and the ability to provide customized solutions for borrowers
  • We have a large team of senior originators who have relationships with more than 800 sponsors, with 35+ dedicated technology-focused investors
  • We provide a full suite of financing solutions including adjacent credit strategies that can drive attractive origination opportunities and significant deal flow
  • We have the ability to lead or anchor debt financings in excess of $1 billion across the Credit platform

High-quality, senior-oriented, technology portfolio

  • Our portfolio consists of 81% senior-secured investments; 78% of our portfolio is comprised of first-lien loans
  • We focus on upper middle-market technology companies; as of March 31, 2025, our borrowers generated a weighted average annual EBITDA of $251 million
  • Our portfolio is well diversified by end markets, borrowers, sponsors, and position sizes
  • Majority of our portfolio companies are backed by private equity sponsors, who are skilled operators with ample dry powder and substantial financial resources

Disciplined investment strategy

  • We have a highly selective investment process with strong deal flow, having evaluated more than 10,500 opportunities and closed on approximately 5%
  • Our average loan-to-value is 31% across our portfolio
  • Our focus is on non-cyclical, recession-resistant technology businesses

Conservative balance sheet

  • We target debt-to-equity of 0.9x – 1.25x
  • We maintain significant liquidity, with $4.0 billion of cash and undrawn debt capacity
  • Our liability structure is well-diversified with a meaningful share of debt in the form of unsecured financing. 57% of funded debt capital is in unsecured debt
  • We have four investment grade ratings

Strong shareholder alignment & transparency

  • Approximately $600 million committed to Credit products by executives and employees
  • An independent valuation firm values every investment in our portfolio each quarter

As of 3/21/25 unless otherwise noted. Past performance is not a guarantee of future results. The views expressed are Credit's views as of 3/31/25 and may change without notice as market and other conditions change.

1. Borrower financials are derived from the most recently available portfolio company financial statements, have not been independently verified by Blue Owl's Credit platform, and may reflect a normalized or adjusted amount.

OTF borrower highlights

$880M

Weighted average portfolio company revenue

$251M

Weighted average portfolio company EBITDA

31%

Weighted average loan-to-value

As of March 31, 2025 • Q1'25 10-Q
Borrower financials are derived from the most recently available portfolio company financial statements, have not been independently verified by Blue Owl's Credit platform, and may reflect a normalized or adjusted amount. Accordingly, Blue Owl's Credit platform makes no representation or warranty in respect of this information.

About our portfolio

We have embedded ESG into our investment process

At Blue Owl's Credit platform, we believe incorporating material environmental, social, and governance (ESG) factors into our corporate and investment practices can significantly contribute to our long-term success and the long-term success of the companies in which we invest.

Our adviser's ESG principles

  • Responsibility
  • Dual-purpose investments
  • Due diligence
  • Transparency
  • Like-minded partnerships
  • Continuous improvements
View our ESG responsiblity

Explore our connection with the broader Credit platform

Blue Owl Technology Finance Corp. (NYSE: OTF) is a BDC externally managed by Blue Owl Technology Credit Advisors, LLC, an indirect affiliate of Blue Owl Capital Inc. (NYSE: OWL) and a part of Blue Owl's Credit platform.

Learn about Credit

How BDCs promote capital investment

Business development companies (BDCs) serve as vehicles for investors to access ownership in a diversified pool of private credit assets and enable small and middle-market businesses with access to debt and equity capital.

Learn more about BDCs

Founded and led by industry veterans

Blue Owl Technology Finance Corp. was founded in 2018 by Doug Ostrover, Marc Lipschultz, and Craig Packer who each have decades of experience building successful credit, underwriting, and alternative investment businesses.

Today, Doug Ostrover and Marc Lipschultz serve as Co-Chief Executive Officers and Co-Presidents of Blue Owl Capital. Craig Packer is Chief Executive Officer of all of the Credit platform's BDCs, including Blue Owl Technology Finance Corp., and Co-President of Blue Owl Capital. All three are also members of Credit’s investment committee.

View our Management & Officers View Board of Directors