May 10, 2022 - 10-Q: Quarterly report pursuant to Section 13 or 15(d)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the period ended March 31, 2022

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 000-55977

OWL ROCK TECHNOLOGY FINANCE CORP.

(Exact name of Registrant as specified in its Charter)


Maryland		83-1273258
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

399 Park Avenue, 38th Floor, New York, New York		10022
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 419-3000

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒ NO ☐

Indicate by check mark whether the Registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES ☐ NO ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  Emerging growth company  Small reporting company 

Non-accelerated filer  Accelerated filer 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒

As of May 10, 2022, the registrant had 200,556,380 shares of common stock, $0.01 par value per share, outstanding.

Table of Contents


		Page
PART I	CONSOLIDATED FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements	3
	Consolidated Statements of Assets and Liabilities as of March 31, 2022 (Unaudited) and December 31, 2021	3
	Consolidated Statements of Operations for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	4
	Consolidated Schedules of Investments as of March 31, 2022 (Unaudited) and December 31, 2021	5
	Consolidated Statements of Changes in Net Assets for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	34
	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	35
	Notes to Consolidated Financial Statements (Unaudited)	36
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	64
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	97
Item 4.	Controls and Procedures	99

PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	100
Item 1A.	Risk Factors	100
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	101
Item 3.	Defaults Upon Senior Securities	101
Item 4.	Mine Safety Disclosures	101
Item 5.	Other Information	101
Item 6.	Exhibits	102
Signatures		103

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Owl Rock Technology Finance Corp. (the “Company,” “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•

an economic downturn could impair our portfolio companies’ ability to continue to operate, which could lead to the loss of some or all of our investments in such portfolio companies;

•

an economic downturn could disproportionately impact the companies that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies;

•

an economic downturn could also impact availability and pricing of our financing and our ability to access the debt capital markets;

•

a contraction of available credit and/or an inability to access the equity markets could impair our lending and investment activities;

•

the impact of the “COVID-19” pandemic and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy including as a result of recent supply chain disruptions;

•

interest rate volatility, including the decommissioning of LIBOR, could adversely affect our results, particularly because we use leverage as part of our investment strategy;

•

currency fluctuations could adversely affect the results of our investments in foreign companies, particularly to the extent that we receive payments denominated in foreign currency rather than U.S. dollars;

•

our future operating results;

•

our business prospects and the prospects of our portfolio companies including our and their ability to achieve our respective objectives as a result of the current COVID-19 pandemic;

•

the impact of interest and inflation rates on our business prospects and the prospects of our portfolio companies;

•

our contractual arrangements and relationships with third parties;

•

the ability of our portfolio companies to achieve their objectives;

•

competition with other entities and our affiliates for investment opportunities;

•

the speculative and illiquid nature of our investments;

•

the use of borrowed money to finance a portion of our investments as well as any estimates regarding potential use of leverage;

•

the adequacy of our financing sources and working capital;

•

the loss of key personnel;

•

the timing of cash flows, if any, from the operations of our portfolio companies;

•

the ability of Owl Rock Technology Advisors LLC (“the Adviser” or “our Adviser”) to locate suitable investments for us and to monitor and administer our investments;

•

the ability of the Adviser to attract and retain highly talented professionals;

•

our ability to maintain our tax treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and as a business development company (“BDC”);

•

the effect of legal, tax and regulatory changes including the Coronavirus Aid, Relief and Economic Security Act signed into law in December 2020 and the American Rescue Plan Act of 2021, signed into law in March 2021; and

•

the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing conflict between Russia and Ukraine;

•

other risks, uncertainties and other factors previously identified in the reports and other documents we have filed with the Securities and Exchange Commission (“SEC”).

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. These forward-looking statements apply only as of the date of this report. Moreover, we assume no duty and do not undertake to update the forward-looking statements. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).

PART 1. CONSOLIDATED FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Owl Rock Technology Finance Corp.

Consolidated Statements of Assets and Liabilities

(Amounts in thousands, except share and per share amounts)


	March 31, 2022 (Unaudited)		December 31, 2021
Assets
Investments at fair value
Non-controlled, non-affiliated investments (amortized cost of $5,653,308 and $5,583,078, respectively)	$	5,731,313	$	5,794,488
Non-controlled, affiliated investments (amortized cost of $253,043 and $253,043, respectively)		293,540		269,370
Controlled, affiliated investments (amortized cost of $75,231 and $75,231, respectively)		73,458		75,000
Total investments at fair value (amortized cost of $5,981,582 and $5,911,352, respectively)		6,098,311		6,138,858
Cash		144,419		107,025
Interest receivable		38,563		43,013
Dividend income receivable		4,857		930
Prepaid expenses and other assets		1,456		1,849
Total Assets	$	6,287,606	$	6,291,675
Liabilities
Debt (net of unamortized debt issuance costs of $31,422 and $32,023, respectively)	$	2,715,807	$	2,643,751
Management fee payable		13,986		13,353
Distribution payable		47,692		31,653
Incentive fee payable		22,164		37,731
Payables to affiliates		1,291		2,527
Payable for investments purchased		—		11,372
Accrued expenses and other liabilities		29,432		19,138
Total Liabilities	$	2,830,372	$	2,759,525
Commitments and contingencies (Note 7)
Net Assets
Common shares $0.01 par value, 500,000,000 shares authorized; 200,556,380 and 200,099,575 shares issued and outstanding, respectively	$	2,006	$	2,001
Additional paid-in-capital		3,185,050		3,176,992
Total distributable earnings (losses)		270,178		353,157
Total Net Assets	$	3,457,234	$	3,532,150
Total Liabilities and Net Assets	$	6,287,606	$	6,291,675
Net Asset Value Per Share	$	17.24	$	17.65

The accompanying notes are an integral part of these consolidated financial statements.

Owl Rock Technology Finance Corp.

Consolidated Statements of Operations

(Amounts in thousands, except share and per share amounts)

(Unaudited)


	For the Three Months Ended March 31,
	2022			2021
Investment Income
Investment income from non-controlled, non-affiliated investments:
Interest income	$	81,292		$	58,136
Payment-in-kind interest income		17,178			7,564
Dividend income		4,344			—
Other income		875			491
Total investment income from non-controlled, non-affiliated investments		103,689			66,191
Investment income from non-controlled, affiliated investments:
Dividend income		3,799			296
Total investment income from non-controlled, affiliated investments		3,799			296
Total Investment Income		107,488			66,487
Expenses
Interest expense	$	27,078		$	19,957
Management fees		13,986			10,557
Incentive fees		(3,921	)		7,585
Professional fees		1,543			1,600
Directors' fees		282			235
Other general and administrative		1,114			644
Total Expenses		40,082			40,578
Net Investment Income (Loss) Before Taxes		67,406			25,909
Excise tax expense		2,100			491
Net Investment Income (Loss) After Taxes		65,306			25,418
Net Change in Unrealized Gain (Loss)
Non-controlled, non-affiliated investments	$	(127,506	)	$	42,784
Non-controlled, affiliated investments		24,170			(3	)
Controlled, affiliated investments		(1,542	)		—
Translation of assets and liabilities in foreign currencies		19			(957	)
Total Net Change in Unrealized Gain (Loss)		(104,859	)		41,824
Net Realized Gain (Loss):
Non-controlled, non-affiliated investments	$	4,224		$	74
Non-controlled, affiliated investments		—			—
Foreign currency transactions		42			954
Total Net Realized Gain (Loss)		4,266			1,028
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(35,287	)	$	68,270
Earnings (Loss) Per Share - Basic and Diluted	$	(0.18	)	$	0.66
Weighted Average Shares Outstanding - Basic and Diluted		200,404,113			103,698,424

The accompanying notes are an integral part of these consolidated financial statements

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments
Aerospace & defense
Peraton Corp.(3)(6)(7)(15)	Second lien senior secured loan	L + 7.75%	2/1/2029		84,946	$	83,793		$	84,122			2.4	%
					84,946		83,793			84,122			2.4	%
Application Software
Apptio, Inc.(6)(8)(15)	First lien senior secured loan	L + 7.25%	1/10/2025		59,901		59,098			59,901			1.7	%
Apptio, Inc.(6)(8)(15)(16)	First lien senior secured revolving loan	L + 7.25%	1/10/2025		1,308		1,277			1,308			-	%
Certify, Inc.(6)(7)	First lien senior secured loan	L + 5.50%	2/28/2024		57,039		56,719			56,896			1.6	%
Certify, Inc.(6)(7)(16)	First lien senior secured revolving loan	L + 5.50%	2/28/2024		570		559			565			-	%
CivicPlus, LLC(6)(8)(15)	First lien senior secured loan	L + 6.00%	8/24/2027		35,200		34,877			34,672			1.0	%
CivicPlus, LLC(6)(15)(16)(18)	First lien senior secured delayed draw term loan	L + 6.00%	8/24/2023		-		-			(83	)		-	%
CivicPlus, LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	8/24/2027		-		(30	)		(50	)		-	%
Community Brands ParentCo, LLC(6)(10)(15)	First lien senior secured loan	SR + 5.75%	2/24/2028		12,750		12,502			12,495			0.4	%
Community Brands ParentCo, LLC(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	SR + 5.75%	2/24/2024		-		(15	)		(15	)		-	%
Community Brands ParentCo, LLC(6)(15)(16)(17)	First lien senior secured revolving loan	SR + 5.75%	2/24/2028		-		(15	)		(15	)		-	%
Diamondback Acquisition, Inc. (dba Sphera)(6)(8)(15)	First lien senior secured loan	L + 5.50%	9/13/2028		101,638		99,734			99,097			2.9	%
Diamondback Acquisition, Inc. (dba Sphera)(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 5.50%	9/13/2023		-		(188	)		(305	)		-	%
Diligent Corporation(6)(8)	First lien senior secured loan	L + 6.17%	8/4/2025		25,070		24,667			24,756			0.7	%
Diligent Corporation(6)(16)(17)	First lien senior secured revolving loan	L + 6.25%	8/4/2025		-		(25	)		(19	)		-	%
Gainsight, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.75% PIK	7/30/2027		50,969		50,147			50,077			1.4	%
Gainsight, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	7/30/2027		-		(82	)		(92	)		-	%
GovBrands Intermediate, Inc.(6)(8)(15)	First lien senior secured loan	L + 5.50%	8/4/2027		64,164		62,706			61,918			1.8	%
GovBrands Intermediate, Inc.(6)(8)(15)(16)(18)	First lien senior secured delayed draw term loan	L + 5.50%	8/4/2023		14,437		14,030			13,781			0.4	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
GovBrands Intermediate, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.50%	8/4/2027		-		(151	)		(238	)		-	%
Granicus, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.50%	1/29/2027		29,661		29,067			28,994			0.8	%
Granicus, Inc.(6)(8)(15)(16)(18)	First lien senior secured delayed draw term loan	L + 6.00%	4/23/2023		3,374		3,297			3,270			0.1	%
Granicus, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	1/29/2027		-		(51	)		(59	)		-	%
GS Acquisitionco, Inc. (dba insightsoftware)(6)(9)	First lien senior secured loan	L + 5.75%	5/22/2026		49,913		49,566			49,414			1.4	%
GS Acquisitionco, Inc. (dba insightsoftware)(6)(9)(16)	First lien senior secured revolving loan	L + 5.75%	5/22/2026		2,842		2,820			2,809			0.1	%
MessageBird BidCo B.V.(6)(9)(15)(25)	First lien senior secured loan	L + 6.75%	5/5/2027		120,000		117,671			117,300			3.6	%
Ministry Brands Holdings, LLC(6)(8)(15)	First lien senior secured loan	L + 5.50%	12/29/2028		7,680		7,531			7,488			0.2	%
Ministry Brands Holdings, LLC(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 5.50%	12/27/2023		-		(24	)		(37	)		-	%
Ministry Brands Holdings, LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.50%	12/27/2027		-		(14	)		(18	)		-	%
Tamarack Intermediate, L.L.C.(6)(10)(15)	First lien senior secured loan	SR + 5.75%	3/13/2028		10,278		10,074			10,072			0.3	%
Tamarack Intermediate, L.L.C.(6)(15)(16)(17)	First lien senior secured revolving loan	SR + 5.75%	3/13/2028		-		(33	)		(34	)		-	%
Velocity HoldCo III Inc. (dba VelocityEHS)(6)(8)(15)	First lien senior secured loan	L + 5.75%	4/22/2027		41,354		40,545			40,424			1.2	%
Velocity HoldCo III Inc. (dba VelocityEHS)(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	4/22/2026		-		(46	)		(56	)		-	%
					688,148		676,213			674,216			19.6	%
Banks
AxiomSL Group, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.00%	12/3/2027		141,126		139,460			139,009			4.0	%
AxiomSL Group, Inc.(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 6.00%	7/21/2023		-		(10	)		(12	)		-	%
AxiomSL Group, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	12/3/2025		-		(163	)		(231	)		-	%
					141,126		139,287			138,766			4.0	%
Building products
EET Buyer, Inc. (dba e-Emphasys)(6)(9)(15)	First lien senior secured loan	L + 5.75%	11/8/2027		45,455		45,026			44,773			1.3	%
EET Buyer, Inc. (dba e-Emphasys)(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	11/8/2027		-		(42	)		(68	)		-	%
					45,455		44,984			44,705			1.3	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Commercial Services & Supplies
Brightly Software Holdings, Inc.(6)(8)	First lien senior secured loan	L + 6.25%	6/13/2025		83,510		82,172			82,883			2.4	%
Brightly Software Holdings, Inc.(6)(8)(16)	First lien senior secured revolving loan	L + 6.25%	6/13/2025		2,769		2,686			2,717			0.1	%
					86,279		84,858			85,600			2.5	%
Industrial Conglomerates
QAD, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.00%	11/5/2027		88,571		86,898			86,357			2.5	%
QAD, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	11/5/2027		-		(213	)		(286	)		-	%
					88,571		86,685			86,071			2.5	%
Diversified Consumer Services
Litera Bidco LLC(6)(7)(15)	First lien senior secured loan	L + 5.89%	5/29/2026		156,297		154,788			156,299			4.5	%
Litera Bidco LLC(6)(7)(15)(16)(18)	First lien senior secured delayed draw term loan	L + 6.00%	10/29/2022		2,866		2,791			2,866			0.1	%
Litera Bidco LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	5/29/2026		-		(59	)		-			-	%
Muine Gall, LLC(6)(9)(15)(21)(25)	First lien senior secured loan	L + 7.00% PIK	9/20/2024		204,166		204,696			203,657			5.9	%
Relativity ODA LLC(6)(7)(15)	First lien senior secured loan	L + 7.50% PIK	5/12/2027		120,329		118,840			118,524			3.4	%
Relativity ODA LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.50%	5/12/2027		-		(144	)		(169	)		-	%
Transact Holdings, Inc.(6)(7)(15)	First lien senior secured loan	L + 4.75%	4/30/2026		8,775		8,692			8,621			0.2	%
					492,433		489,604			489,798			14.1	%
Diversified Financial Services
Hg Genesis 8 Sumoco Limited(6)(12)(15)(25)	Unsecured facility	S + 7.50% PIK	8/28/2025		71,542		71,921			71,363			2.1	%
Hg Genesis 9 SumoCo Limited(6)(13)(15)(25)	Unsecured facility	E + 7.00% PIK	3/10/2027		11,127		10,980			11,043			0.3	%
Hg Saturn Luchaco Limited(6)(11)(15)(25)	Unsecured facility	G + 7.50% PIK	3/30/2026		128,195		133,360			126,593			3.7	%
NMI Acquisitionco, Inc. (dba Network Merchants)(6)(7)(15)	First lien senior secured loan	L + 5.75%	9/8/2025		17,075		16,924			16,862			0.5	%
NMI Acquisitionco, Inc. (dba Network Merchants)(6)(7)(15)(16)(18)	First lien senior secured delayed draw term loan	L + 5.75%	10/2/2023		3,352		3,289			3,296			0.1	%
NMI Acquisitionco, Inc. (dba Network Merchants)(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	9/8/2025		-		(15	)		(14	)		-	%
Smarsh Inc.(6)(10)(15)	First lien senior secured loan	SR + 6.50%	2/19/2029		44,190		43,754			43,749			1.3	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Smarsh Inc.(6)(10)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	SR + 6.50%	2/19/2024		-		(54	)		-			-	%
Smarsh Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	SR + 6.50%	2/19/2029		-		(27	)		(28	)		-	%
					275,481		280,132			272,864			8.0	%
Energy Equipment & Services
3ES Innovation Inc. (dba Aucerna)(6)(8)(15)(25)	First lien senior secured loan	L + 6.75%	5/13/2025		71,886		71,292			70,808			2.0	%
3ES Innovation Inc. (dba Aucerna)(6)(15)(16)(17)(25)	First lien senior secured revolving loan	L + 6.75%	5/13/2025		-		(30	)		(69	)		-	%
Project Power Buyer, LLC (dba PEC-Veriforce)(6)(8)(15)	First lien senior secured loan	L + 6.00%	5/14/2026		52,913		52,435			52,913			1.5	%
Project Power Buyer, LLC (dba PEC-Veriforce)(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.00%	5/14/2025		-		(24	)		-			-	%
					124,799		123,673			123,652			3.5	%
Health Care Technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(9)(15)	First lien senior secured loan	L + 5.75%	8/23/2028		117,378		115,635			115,031			3.3	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 5.75%	8/23/2023		-		(268	)		(253	)		-	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	8/21/2026		-		(186	)		(245	)		-	%
Datix Bidco Limited (dba RLDatix)(6)(11)(15)(25)	First lien senior secured loan	G + 4.50%	4/27/2025		839		861			820			-	%
Datix Bidco Limited (dba RLDatix)(6)(11)(15)(25)	Second lien senior secured loan	G + 7.75%	4/27/2026		8,778		9,002			8,602			0.2	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(6)(10)(15)	First lien senior secured loan	S R + 6.00%	10/30/2028		27,719		27,190			27,096			0.8	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(6)(10)(15)(16)	First lien senior secured revolving loan	S R + 6.00%	10/29/2027		221		180			171			-	%
Hyland Software, Inc.(6)(7)(15)	Second lien senior secured loan	L + 6.25%	7/7/2025		94,842		94,808			93,894			2.7	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(6)(8)(15)(25)	First lien senior secured loan	L + 6.25%	8/21/2026		153,859		152,377			153,090			4.4	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(6)(8)(15)(16)(25)	First lien senior secured revolving loan	L + 6.25%	8/21/2026		3,978		3,928			3,947			0.1	%
Interoperability Bidco, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.25%	12/28/2026		86,087		85,537			85,544			2.5	%
Interoperability Bidco, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.25%	12/28/2026		-		(23	)		(25	)		-	%
Inovalon Holdings, Inc.(6)(8)(15)	First lien senior secured loan	L + 6.25% (incl. 2.75% PIK)	11/24/2028		130,395		127,288			126,809			3.7	%
Inovalon Holdings, Inc.(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 5.75%	5/24/2024		-		(164	)		(208	)		-	%
Inovalon Holdings, Inc.(6)(8)(15)	Second lien senior secured loan	L + 10.50% PIK	11/24/2033		63,454		62,238			62,026			1.8	%
RL Datix Holdings (USA), Inc.(6)(9)(15)(25)	First lien senior secured loan	L + 5.00%	4/28/2025		10,000		9,834			9,775			0.3	%
RL Datix Holdings (USA), Inc.(6)(9)(15)(25)	Second lien senior secured loan	L + 8.50%	4/27/2026		20,000		19,607			19,600			0.6	%
					717,550		707,844			705,674			20.4	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Hotels, Restaurants & Leisure
MINDBODY, Inc.(6)(9)(15)	First lien senior secured loan	L + 8.50% (incl. 1.50% PIK)	2/14/2025		79,269		78,813			79,269			2.3	%
MINDBODY, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 7.00%	2/14/2025		-		(34	)		-			-	%
					79,269		78,779			79,269			2.3	%
Household Durables
BCTO BSI Buyer, Inc. (dba Buildertrend)(6)(8)(15)	First lien senior secured loan	L + 7.00%	12/23/2026		62,500		61,984			62,031			1.8	%
BCTO BSI Buyer, Inc. (dba Buildertrend)(6)(8)(15)(16)	First lien senior secured revolving loan	L + 7.00%	12/23/2026		4,225		4,166			4,169			0.1	%
					66,725		66,150			66,200			1.9	%
Insurance
Asurion, LLC(3)(6)(7)(15)	Second lien senior secured loan	L + 5.25%	1/31/2028		10,833		10,611			10,606			0.3	%
Integrity Marketing Acquisition, LLC(6)(9)(15)	First lien senior secured loan	L + 5.75%	8/27/2025		54,997		54,425			54,997			1.6	%
Integrity Marketing Acquisition, LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	8/27/2025		-		(32	)		-			-	%
					65,830		65,004			65,603			1.9	%
Internet & Direct Marketing Retail
Walker Edison Furniture Company LLC(6)(8)(15)	First lien senior secured loan	L + 8.75% (incl. 3.00% PIK)	3/31/2027		33,857		33,857			30,810			0.9	%
					33,857		33,857			30,810			0.9	%
IT Services
Kaseya Inc.(6)(8)	First lien senior secured loan	L + 5.50% (incl. 1.00% PIK)	5/2/2025		47,824		47,294			47,584			1.4	%
Kaseya Inc.(6)(8)(16)(18)	First lien senior secured delayed draw term loan	L + 5.50% (incl. 1.00% PIK)	9/8/2023		1,820		1,768			1,811			0.1	%
Kaseya Inc.(6)(16)(17)	First lien senior secured revolving loan	L + 5.50%	5/2/2025		-		(25	)		(12	)		-	%
BCPE Nucleon (DE) SPV, LP(6)(9)(15)	First lien senior secured loan	L + 7.00%	9/24/2026		133,333		131,705			132,333			3.8	%
Pluralsight, LLC(6)(9)(15)	First lien senior secured loan	L + 8.00%	4/6/2027		159,494		158,020			157,502			4.6	%
Pluralsight, LLC(6)(15)(16)(17)	First lien senior secured revolving loan	L + 8.00%	4/6/2027		-		(84	)		(125	)		-	%
					342,471		338,678			339,093			9.9	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Life Sciences Tools & Services
Bracket Intermediate Holding Corp.(3)(6)(8)(15)	First lien senior secured loan	L + 4.25%	9/5/2025		392		371			388			-	%
Bracket Intermediate Holding Corp.(6)(8)(15)	Second lien senior secured loan	L + 8.13%	9/7/2026		20,000		19,742			19,800			0.6	%
					20,392		20,113			20,188			0.6	%
Professional Services
Cornerstone OnDemand, Inc.(6)(7)(15)	Second lien senior secured loan	L + 6.50%	10/15/2029		71,667		70,637			70,233			2.0	%
Gerson Lehrman Group, Inc.(6)(8)(15)	First lien senior secured loan	L + 5.25%	12/12/2024		95,370		94,683			95,083			2.8	%
Gerson Lehrman Group, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.25%	12/12/2024		-		(16	)		(11	)		-	%
Motus Group, LLC(6)(8)(15)	Second lien senior secured loan	L + 6.50%	12/10/2029		17,868		17,694			17,644			0.5	%
Proofpoint, Inc.(3)(6)(8)(15)	Second lien senior secured loan	L + 6.25%	8/31/2029		55,000		54,740			54,676			1.6	%
Thunder Purchaser, Inc. (dba Vector Solutions)(6)(8)(15)	First lien senior secured loan	L + 5.75%	6/30/2028		132,623		131,411			130,965			3.8	%
Thunder Purchaser, Inc. (dba Vector Solutions)(6)(15)(16)(17)(18)	First lien senior secured delayed draw term loan	L + 5.75%	8/17/2023		-		-			(56	)		-	%
Thunder Purchaser, Inc. (dba Vector Solutions)(6)(8)(15)(16)	First lien senior secured revolving loan	L + 5.75%	6/30/2027		1,350		1,281			1,252			-	%
When I Work, Inc.(6)(8)	First lien senior secured loan	L + 7.00% PIK	11/2/2027		29,895		29,613			29,446			0.9	%
When I Work, Inc.(6)(16)(17)	First lien senior secured revolving loan	L + 6.00%	11/2/2027		-		(52	)		(84	)		-	%
					403,773		399,991			399,148			11.6	%
Real Estate Management & Development
Reef Global Acquisition LLC (fka Cheese Acquisition, LLC)(6)(9)(15)	First lien senior secured loan	L + 6.00% (incl. 1.25% PIK)	11/28/2024		37,417		37,279			35,639			1.0	%
Imperial Parking Canada(6)(14)(15)	First lien senior secured loan	C + 6.00% (incl. 1.25% PIK)	11/28/2024		7,856		7,432			7,483			0.2	%
Reef Global Acquisition LLC (fka Cheese Acquisition, LLC)(6)(7)(15)(16)	First lien senior secured revolving loan	L + 4.75%	11/28/2023		3,052		3,057			2,836			0.1	%
REALPAGE, INC.(3)(6)(7)(15)	Second lien senior secured loan	L + 6.50%	4/23/2029		52,500		51,785			52,568			1.5	%
					100,825		99,553			98,526			2.8	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)			Fair Value			Percentage of Net Assets
Systems Software
Acquia Inc.(6)(9)	First lien senior secured loan	L + 7.00%	10/31/2025		152,102		151,008			152,102			4.4	%
Acquia Inc.(6)(16)(17)	First lien senior secured revolving loan	L + 7.00%	10/31/2025		-		(70	)		-			-	%
Bayshore Intermediate #2, L.P.(6)(8)(15)	First lien senior secured loan	L + 7.75% PIK	10/2/2028		143,471		140,481			139,884			4.0	%
Bayshore Intermediate #2, L.P.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 6.75%	10/1/2027		-		(241	)		(292	)		-	%
Barracuda Networks, Inc.(6)(8)(15)	Second lien senior secured loan	L + 6.75%	10/30/2028		7,500		7,435			7,463			0.2	%
Centrify Corporation(6)(8)(15)	First lien senior secured loan	L + 5.75%	3/2/2028		79,905		78,149			78,108			2.3	%
Centrify Corporation(6)(15)(16)(17)	First lien senior secured revolving loan	L + 5.75%	3/2/2027		-		(197	)		(184	)		-	%
Forescout Technologies, Inc.(6)(8)(15)	First lien senior secured loan	L + 9.50% PIK	8/17/2026		87,479		86,446			87,479			2.5	%
Forescout Technologies, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 8.50%	8/18/2025		-		(99	)		-			-	%
Delta TopCo, Inc. (dba Infoblox, Inc.)(6)(8)(15)	Second lien senior secured loan	L + 7.25%	12/1/2028		20,000		19,914			19,900			0.6	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(6)(9)(15)(25)	First lien senior secured loan	L + 7.50%	4/16/2026		148,889		145,645			148,889			4.3	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(6)(15)(16)(17)(25)	First lien senior secured revolving loan	L + 7.50%	4/16/2026		-		(505	)		-			-	%
Ivanti Software, Inc.(6)(8)	Second lien senior secured loan	L + 7.25%	12/1/2028		21,000		20,452			20,790			0.6	%
Tahoe Finco, LLC(6)(8)(15)(25)	First lien senior secured loan	L + 6.00%	9/29/2028		172,092		170,469			169,513			4.9	%
Tahoe Finco, LLC(6)(15)(16)(17)(25)	First lien senior secured revolving loan	L + 6.00%	10/1/2027		-		(119	)		(194	)		-	%
					832,438		818,768			823,458			23.8	%
Thrifts & Mortgage Finance
Blend Labs, Inc.(6)(8)(15)	First lien senior secured loan	L + 7.50%	7/1/2026		112,500		110,096			110,531			3.2	%
Blend Labs, Inc.(6)(15)(16)(17)	First lien senior secured revolving loan	L + 7.50%	7/1/2026		-		(106	)		(219	)		-	%
					112,500		109,990			110,312			3.2	%
Total non-controlled/non-affiliated portfolio company debt investments				$	4,802,868	$	4,747,956		$	4,738,075			137.2	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)		Fair Value		Percentage of Net Assets
Equity Investments
Aerospace & Defense
Space Exploration Technologies Corp.(15)(19)(26)	Class A Common Stock	N/A	N/A		29,074		14,005		16,281		0.5	%
Space Exploration Technologies Corp.(15)(19)(26)	Class C Common Stock	N/A	N/A		8,425		4,011		4,718		0.1	%
							18,016		20,999		0.6	%
Application Software
6Sense Insights, Inc.(15)(19)(26)	Series E-1 Preferred Stock	N/A	N/A		1,264,514		40,004		40,004		1.2	%
Alpha Partners Technology Merger Corp(2)(25)(26)	Common Stock	N/A	N/A		2,000,000		20,027		19,560		0.6	%
Alpha Partners Technology Merger Corp(25)(26)	Sponsor Shares	N/A	N/A		100,000		1,000		2,537		0.1	%
EShares, Inc. (dba Carta)(19)(26)	Series E Preferred Stock	N/A	N/A		186,904		2,008		7,532		0.2	%
Diligent Preferred Issuer, Inc. (dba Diligent Corporation)(15)(19)	Preferred Stock	10.50% PIK	N/A		15,000		16,236		16,050		0.5	%
MessageBird BidCo B.V.(15)(19)(25)(26)	Warrants	N/A	N/A		191,530		1,174		755		-	%
Nylas, Inc.(19)(26)	Series C Preferred Stock	N/A	N/A		2,088,467		15,009		15,000		0.4	%
Saturn Ultimate, Inc.(15)(19)(26)	Common Stock	N/A	N/A		4,421,347		25,001		55,806		1.6	%
							120,459		157,244		4.6	%
Capital Markets
Robinhood Markets, Inc.(2)(25)(26)	Common Stock	N/A	N/A		2,416,000		64,319		32,640		0.9	%
							64,319		32,640		0.9	%
Construction & Engineering
Dodge Contruction Network Holdings, L.P.(15)(19)	Series A Preferred Units	8.25%	N/A		-		70		70		-	%
Dodge Contruction Network Holdings, L.P.(15)(19)(26)	Class A-2 Common Units	N/A	N/A		3,333,333		2,841		2,834		0.1	%
							2,911		2,904		0.1	%
Consumer Finance
Remitly Global, Inc.(2)(19)(26)	Common Stock	N/A	N/A		2,772,231		20,008		27,362		0.8	%
							20,008		27,362		0.8	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)		Fair Value		Percentage of Net Assets
Diversified Consumer Services
SLA Eclipse Co-Invest, L.P.(2)(19)(26)	LP Interest	N/A	N/A		15,000		15,153		21,673		0.6	%
							15,153		21,673		0.6	%
Diversified Financial Services
Brex, Inc.(19)(26)	Preferred Stock	N/A	N/A		143,943		5,011		5,000		0.1	%
							5,011		5,000		0.1	%
Health Care Technology
Minerva Holdco, Inc.(15)(19)	Series A Preferred Stock	10.75% PIK	N/A		50,000		49,687		49,664		1.4	%
							49,687		49,664		1.4	%
Hotels, Restaurants & Leisure
Toast, Inc.(19)(26)	Warrants	N/A	N/A		5,762,612		36,254		50,656		1.5	%
Toast, Inc.(2)(26)	Common Stock	N/A	N/A		322,578		6,398		7,010		0.2	%
VEPF Torreys Aggregator, LLC(15)(19)	Series A Preferred Stock	6.00% PIK	N/A		25,000		25,378		25,000		0.7	%
							68,030		82,666		2.4	%
Internet & Direct Marketing Retail
Kajabi Holdings, LLC(19)(26)	Senior Preferred Class D Units	N/A	N/A		4,126,175		50,025		50,159		1.5	%
Klaviyo, Inc.(19)(26)	Common Stock	N/A	N/A		1,198,270		40,018		42,232		1.2	%
Linked Store Cayman Ltd. (dba Nuvemshop)(15)(19)(25)(26)	Series E Preferred Stock	N/A	N/A		19,499		42,496		37,316		1.1	%
							132,539		129,707		3.8	%
IT Services
E2Open Parent Holdings, Inc.(2)(19)(25)(26)	Class A Common Stock	N/A	N/A		1,650,943		17,504		14,545		0.4	%
JumpCloud, Inc.(19)(26)	Series B Preferred Stock	N/A	N/A		756,590		4,531		4,531		0.1	%
JumpCloud, Inc.(19)(26)	Series F Preferred Stock	N/A	N/A		6,679,245		40,017		40,000		1.2	%
Replicated, Inc.(19)(26)	Series C Preferred Stock	N/A	N/A		1,277,832		20,008		20,000		0.6	%
Starboard Value Acquisition Corp. (dba Cyxtera Technologies, Inc.)(2)(25)(26)	Common Stock	N/A	N/A		1,500,000		15,009		18,330		0.5	%
WMC Bidco, Inc.(15)(19)	Preferred Stock	11.25% PIK	N/A		57,231		58,322		57,380		1.7	%
							155,391		154,786		4.5	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)		Fair Value		Percentage of Net Assets
Professional Services
BCTO WIW Holdings, Inc.(15)(19)(26)	Class A Common Stock	N/A	N/A		70,000		7,000		7,000		0.2	%
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)(15)(19)	Series A Preferred Stock	10.50% PIK	N/A		28,000		27,955		27,483		0.8	%
Thunder Topco L.P. (dba Vector Solutions)(15)(19)(26)	Common Units	N/A	N/A		7,857,410		7,857		8,373		0.2	%
							42,812		42,856		1.2	%
Road & Rail
Bolt Technology OÜ(19)(25)(26)	Preferred Equity	N/A	N/A		43,478		11,306		11,126		0.3	%
							11,306		11,126		0.3	%
Systems Software
Algolia, Inc.(19)(26)	Series C Preferred Stock	N/A	N/A		970,281		10,000		25,376		0.7	%
Algolia, Inc.(19)(26)	Series D Preferred Stock	N/A	N/A		136,776		4,000		4,000		0.1	%
Arctic Wolf Networks, Inc.(19)(26)	Preferred Stock	N/A	N/A		3,032,840		25,036		29,564		0.9	%
Brooklyn Lender Co-Invest 2, L.P.(15)(19)(26)	Common Units	N/A	N/A		12,692,160		12,692		12,692		0.4	%
Circle Internet Services, Inc.(19)(26)	Series D Preferred Stock	N/A	N/A		2,934,961		15,000		44,402		1.3	%
Circle Internet Services, Inc.(19)(26)	Series E Preferred Stock	N/A	N/A		821,806		6,917		13,069		0.4	%
Circle Internet Services, Inc.(19)(26)	Series F Preferred Stock	N/A	N/A		75,876		1,500		1,500		-	%
Circle Internet Services, Inc.(19)(26)	Warrants	N/A	N/A		244,580		-		2,515		0.1	%
Exabeam, Inc.(15)(19)(26)	Series F Preferred Stock	N/A	N/A		2,051,634		59,923		59,880		1.7	%
Exabeam, Inc.(15)(19)(26)	Common Stock	N/A	N/A		1,289,034		35,745		35,741		1.0	%
Halo Parent Newco, LLC(19)	Class H PIK Preferred Equity	11.00% PIK	N/A		5,000		5,157		5,162		0.1	%
Illumio, Inc.(19)(26)	Series F Preferred Stock	N/A	N/A		2,483,618		16,683		16,679		0.5	%
Illumio, Inc.(19)(26)	Common Stock	N/A	N/A		358,365		2,432		2,407		0.1	%
							195,085		252,987		7.3	%
Thrifts & Mortgage Finance
Blend Labs, Inc.(2)(15)(26)	Common Stock	N/A	N/A		216,953		3,000		1,237		-	%
Blend Labs, Inc.(15)(26)	Warrants	N/A	N/A		299,216		1,625		387		-	%
							4,625		1,624		-	%
Total non-controlled/non-affiliated portfolio company equity investments						$	905,352	$	993,238		28.6	%
Total non-controlled/non-affiliated portfolio company investments						$	5,653,308	$	5,731,313		165.8	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Company(1)(20)(22)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(4)(5)		Fair Value		Percentage of Net Assets
Non-controlled/affiliated portfolio company investments
Equity Investments
Application Software
UserZoom Technologies, Inc.(15)(19)(23)	Series B Preferred Stock	10.00% PIK	N/A		12,000,769		56,721		95,067		2.7	%
							56,721		95,067		2.7	%
Systems Software
Help SP SCF Investor, LP(19)(23)(26)	LP Interest	N/A	N/A		59,333		59,379		61,535		1.8	%
Split Software, Inc.(19)(23)(26)	Series D Non-Participating Convertible Preferred Stock	N/A	N/A		12,335,526		30,005		30,000		0.9	%
							89,384		91,535		2.7	%
Internet & Direct Marketing Retail
Signifyd Inc.(19)(23)	Series E Preferred Stock	9.00% PIK	N/A		2,755,121		106,938		106,938		3.1	%
							106,938		106,938		3.1	%
Total non-controlled/affiliated portfolio company equity investments						$	253,043	$	293,540		8.5	%
Total non-controlled/affiliated portfolio company investments						$	253,043	$	293,540		8.5	%

Controlled/affiliated portfolio company investments
Equity Investments
Diversified Financial Services
Revolut Ribbit Holdings, LLC(19)(24)(25)(26)	LLC Interest	N/A	N/A		75,000		75,231		73,458		2.1	%
							75,231		73,458		2.1	%
Total controlled/affiliated portfolio company equity investments						$	75,231	$	73,458		2.1	%
Total controlled/affiliated portfolio company investments						$	75,231	$	73,458		2.1	%
Total Investments						$	5,981,582	$	6,098,311		176.4	%

________________

(1)

Unless otherwise indicated, all investments are considered Level 3 investments.

(2)

Level 1 investment.

(3)

Level 2 investment.

(4)

The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.

(5)

As of March 31, 2022, the net estimated unrealized gain on investments for U.S. federal income tax purposes was $136.8 million based on a tax cost basis of $6.0 billion. As of March 31, 2022, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $53.1 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $189.9 million.

(6)

Loan contains a variable rate structure and may be subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the London Interbank Offered Rate (“LIBOR” or “L”) (which can include one-, two-, three-, six-, or twelve-month LIBOR), Secured Overnight Financing Rate ("SOFR" or "SR", which can include on-1, three- or six-month SOFR), British Pound Sterling LIBOR (“GBPLIBOR” or “G”), Euro Interbank Offered Rate ("EURIBOR" or "E", which can include three- or six-month EURIBOR), Sterling Overnight Interbank Average Rate ("SONIA" or "S") or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate ("Prime" or "P")), at the borrower’s option, and which reset periodically based on the terms of the loan agreement.

(7)

The interest rate on these loans is subject to 1 month LIBOR, which as of March 31, 2022 was 0.45%.

(8)

The interest rate on these loans is subject to 3 month LIBOR, which as of March 31, 2022 was 0.96%.

(9)

The interest rate on these loans is subject to 6 month LIBOR, which as of March 31, 2022 was 1.47%.

(10)

The interest rate on these loans is subject to 3 month SOFR, which as of March 31, 2022 was 0.67%.

(11)

The interest rate on these loans is subject to 6 month GBPLIBOR, which as of March 31, 2022 was 1.47%.

(12)

The interest rate on these loans is subject to SONIA, which as of March 31, 2022 was 0.69%.

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)

(13)

The interest rate on this loan is subject to 3 month EURIBOR, which as of March 31, 2022 was (0.46)%.

(14)

The interest rate on this loan is subject to 6 month Canadian Dollar Offered Rate (“CDOR” or “C”), which as of March 31, 2022 was 0.55%.

(15)

Represents co-investment made with the Company’s affiliates in accordance with the terms of the exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”

(16)

Position or portion thereof is an unfunded loan commitment. See Note 7 “Commitments and Contingencies”.

(17)

The negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value is the result of the capitalized discount on the loan.

(18)

The date disclosed represents the commitment period of the unfunded term loan. Upon expiration of the commitment period, the funded portion of the term loan may be subject to a longer maturity date.

(19)

Security acquired in transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of March 31, 2022, the aggregate fair value of these securities is $1,312.8 million or 38.0% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)


Portfolio Company	Investment	Acquisition Date
6Sense Insights, Inc.	Series E-1 Preferred Stock	January 20, 2022
Algolia, Inc.	Series C Preferred Stock	August 30, 2019
Algolia, Inc.	Series D Preferred Stock	July 19, 2021
Arctic Wolf Networks, Inc.	Preferred Stock	July 7, 2021
BCTO WIW Holdings, Inc.	Class A Common Stock	November 2, 2021
Blend Labs, Inc.	Common Stock	February 24, 2021
Blend Labs, Inc.	Warrants	July 2, 2021
Bolt Technology OÜ	Preferred Equity	December 10, 2021
Brooklyn Lender Co-Invest 2, L.P.	Common Units	October 1, 2021
Brex, Inc.	Preferred Stock	November 30, 2021
Circle Internet Services, Inc.	Series D Preferred Stock	May 20, 2019
Circle Internet Services, Inc.	Series E Preferred Stock	February 28, 2020
Circle Internet Services, Inc.	Series F Preferred Stock	May 4, 2021
Circle Internet Services, Inc.	Warrants	May 20, 2019
Diligent Preferred Issuer, Inc. (dba Diligent Corporation)	Preferred Stock	April 6, 2021
Dodge Contruction Network Holdings, L.P.	Class A-2 Common Units	February 23, 2022
Dodge Contruction Network Holdings, L.P.	Series A Preferred Units	February 23, 2022
EShares, Inc. (dba Carta)	Series E Preferred Stock	August 1, 2019
Exabeam, Inc.	Series F Preferred Stock	May 13, 2021
Exabeam, Inc.	Common Stock	June 25, 2021
E2Open Parent Holdings, Inc.	Class A Common Stock	August 27, 2021
Halo Parent Newco, LLC	Class H PIK Preferred Equity	October 15, 2021
Help SP SCF Investor, LP	LP Interest	April 28, 2021
Illumio, Inc.	Common Stock	June 23, 2021
Illumio, Inc.	Series F Preferred Stock	August 27, 2021
JumpCloud, Inc.	Series B Preferred Stock	December 30, 2021
JumpCloud, Inc.	Series F Preferred Stock	September 3, 2021
Kajabi Holdings, LLC	Senior Preferred Class D Units	March 24, 2021
Klaviyo, Inc.	Common Stock	May 4, 2021
Linked Store Cayman Ltd. (dba Nuvemshop)	Series E Preferred Stock	August 9, 2021
MessageBird BidCo B.V.	Warrants	May 5, 2021
Minerva Holdco, Inc.	Series A Preferred Stock	February 15, 2022
Nylas, Inc.	Series C Preferred Stock	June 3, 2021
Remitly Global, Inc.	Common Stock	May 30, 2019
Replicated, Inc.	Series C Preferred Stock	June 30, 2021
Revolut Ribbit Holdings, LLC	LLC Interest	September 30, 2021
Robinhood Markets, Inc.	Common Stock	February 1, 2021
Saturn Ultimate, Inc.	Common Stock	December 29, 2021
Signifyd Inc.	Series E Preferred Stock	April 8, 2021
SLA Eclipse Co-Invest, L.P.	LP Interest	September 30, 2019
Space Exploration Technologies Corp.	Class A Common Stock	March 25, 2021
Space Exploration Technologies Corp.	Class C Common Stock	March 25, 2021
Split Software, Inc.	Series D Non-Participating Convertible Preferred Stock	August 13, 2021
Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand, Inc.)	Series A Preferred Stock	October 14, 2021
Thunder Topco L.P. (dba Vector Solutions)	Common Units	June 30, 2021
Toast, Inc.	Warrants	June 21, 2021
UserZoom Technologies, Inc.	Series B Preferred Stock	September 9, 2020
VEPF Torreys Aggregator, LLC	Series A Preferred Stock	October 15, 2021
WMC Bidco, Inc.	Preferred Stock	November 9, 2021

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of March 31, 2022

(Amounts in thousands, except share amounts)

(Unaudited)

(20)

Unless otherwise indicated, the Company’s portfolio companies are pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II and CLO 2020-1. See Note 6 “Debt”.

(21)

This portfolio company is not pledged as collateral supporting the amounts outstanding under the Revolving Credit Facility, SPV Asset Facility I, SPV Asset Facility II and CLO 2020-1. See Note 6 "Debt".

(22)

Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.

(23)

Under the Investment Company Act of 1940, as amended (the "1940 Act"), the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% of the portfolio company’s outstanding voting securities. Transactions during the three months ended March 31, 2022 in which the Company was an Affiliated Person of the portfolio company are as follows:


Company	Fair Value at December 31, 2021		Gross Additions(a)		Gross Reductions(b)		Net Change in Unrealized Gain/(Loss)		Realized Gain/(Loss)		Transfers		Fair Value at March 31, 2022		Other Income		Interest Income
UserZoom Technologies, Inc.	$	71,164	$	—	$	—	$	23,903	$	—	$	—	$	95,067	$	1,399	$	—
Signifyd Inc.		106,938		—		—		—		—		—		106,938		2,400		—
Split Software, Inc.		30,000		—		—		—		—		—		30,000		—		—
Help SP SCF Investor, LP		61,268		—		—		267		—		—		61,535		—		—
Total	$	269,370	$	—	$	—	$	24,170	$	—	$	—	$	293,540	$	3,799	$	—

(a)

Gross additions include increases in the cost basis of investments resulting from new investments, payment-in-kind interest or dividends, and the amortization of any unearned income or discounts on equity investments, as applicable.

(b)

Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, and the amortization of any premiums on equity investments, as applicable.

(24)

As defined in the 1940 act, the Company is deemed to be both an "Affiliated Person" and has "Control" of this portfolio company as the Company owns more than 25% of the portfolio company's outstanding voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement). The Company's investment in affiliates for the three months ended March 31, 2022, were as follows:


Company	Fair Value at December 31, 2021		Gross Additions(a)		Gross Reductions(b)		Net Change in Unrealized Gain/(Loss)			Realized Gain/(Loss)		Transfers		Fair Value at March 31, 2022		Other Income		Interest Income
Revolut Ribbit Holdings, LLC	$	75,000	$	—	$	—	$	(1,542	)	$	—	$	—	$	73,458	$	—	$	—
Total	$	75,000	$	—	$	—	$	(1,542	)	$	—	$	—	$	73,458	$	—	$	—

(a)

(b)

(25)

This portfolio company is not a qualifying asset under Section 55(a) of the 1940 Act. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of March 31, 2022, non-qualifying assets represented 21.0% of total assets as calculated in accordance with the regulatory requirements.

(26)

Non-income producing investment.

The accompanying notes are an integral part of these consolidated financial statements.

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Non-controlled/non-affiliated portfolio company investments
Debt Investments
Aerospace & defense
Peraton Corp.(4)(5)(13)	Second lien senior secured loan	L + 7.75%	2/1/2029		87,500	$	86,282		$	87,063			2.5	%
					87,500		86,282			87,063			2.5	%
Application Software
Apptio, Inc.(4)(8)(13)	First lien senior secured loan	L + 7.25%	1/10/2025		59,901		59,034			59,901			1.7	%
Apptio, Inc.(4)(8)(13)(15)	First lien senior secured revolving loan	L + 7.25%	1/10/2025		1,308		1,275			1,308			-	%
Certify, Inc.(4)(5)	First lien senior secured loan	L + 5.50%	2/28/2024		57,039		56,680			57,039			1.6	%
Certify, Inc.(4)(5)(15)	First lien senior secured revolving loan	L + 5.50%	2/28/2024		570		558			570			-	%
CivicPlus, LLC(4)(7)(13)	First lien senior secured loan	L + 6.00%	8/24/2027		35,200		34,865			34,848			1.0	%
CivicPlus, LLC(4)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 6.00%	8/24/2023		-		-			-			-	%
CivicPlus, LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	8/24/2027		-		(31	)		(33	)		-	%
Diamondback Acquisition, Inc.(4)(7)(13)	First lien senior secured loan	L + 5.50%	9/13/2028		101,893		99,926			99,855			2.8	%
Diamondback Acquisition, Inc.(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 5.50%	9/13/2023		-		(195	)		(204	)		-	%
Diligent Corporation(4)(7)	First lien senior secured loan	L + 6.16%	8/4/2025		22,594		22,209			22,367			0.6	%
Diligent Corporation(4)(7)(15)(17)	First lien senior secured delayed draw term loan	L + 6.25%	2/4/2022		982		900			936			-	%
Diligent Corporation(4)(15)(16)	First lien senior secured revolving loan	L + 6.25%	8/4/2025		-		(27	)		(15	)		-	%
Gainsight, Inc.(4)(5)(13)	First lien senior secured loan	L + 6.75% PIK	7/30/2027		30,569		30,074			30,110			0.9	%
Gainsight, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	7/30/2027		-		(85	)		(79	)		-	%
GovBrands Intermediate, Inc.(4)(7)(13)	First lien senior secured loan	L + 5.50%	8/4/2027		64,325		62,807			62,717			1.8	%
GovBrands Intermediate, Inc.(4)(5)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 5.50%	8/4/2023		14,509		14,083			14,063			0.4	%
GovBrands Intermediate, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.50%	8/4/2027		-		(158	)		(170	)		-	%
Granicus, Inc.(4)(7)(13)	First lien senior secured loan	L + 6.50%	1/29/2027		29,736		29,115			29,215			0.8	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Granicus, Inc.(4)(7)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 6.00%	1/30/2023		3,382		3,301			3,307			0.1	%
Granicus, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.25%	1/29/2027		-		(54	)		(46	)		-	%
GS Acquisitionco, Inc. (dba insightsoftware)(4)(8)	First lien senior secured loan	L + 5.75%	5/22/2026		50,040		49,675			49,790			1.4	%
GS Acquisitionco, Inc. (dba insightsoftware)(4)(7)(15)	First lien senior secured revolving loan	L + 5.75%	5/22/2026		1,588		1,564			1,572			-	%
MessageBird BidCo B.V.(4)(8)(13)(22)	First lien senior secured loan	L + 6.75%	4/29/2027		120,000		117,581			117,600			3.2	%
Ministry Brands Holdings, LLC(4)(7)(13)	First lien senior secured loan	L + 5.50%	12/29/2028		7,680		7,527			7,526			0.2	%
Ministry Brands Holdings, LLC(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 5.50%	12/27/2023		-		(25	)		(24	)		-	%
Ministry Brands Holdings, LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.50%	12/30/2027		-		(15	)		(15	)		-	%
Velocity HoldCo III Inc. (dba VelocityEHS)(4)(7)(13)	First lien senior secured loan	L + 5.75%	4/22/2027		41,458		40,614			40,629			1.2	%
Velocity HoldCo III Inc. (dba VelocityEHS)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	4/22/2026		-		(48	)		(50	)		-	%
					642,774		631,150			632,717			17.7	%
Banks
AxiomSL Group, Inc.(4)(7)(13)	First lien senior secured loan	L + 6.00%	12/3/2027		141,481		139,752			140,420			4.0	%
AxiomSL Group, Inc.(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 6.00%	7/21/2023		-		(11	)		-			-	%
AxiomSL Group, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	12/3/2025		-		(174	)		(116	)		-	%
					141,481		139,567			140,304			4.0	%
Building products
EET Buyer, Inc. (dba e-Emphasys)(4)(7)(13)	First lien senior secured loan	L + 5.75%	11/8/2027		45,455		45,011			45,000			1.3	%
EET Buyer, Inc. (dba e-Emphasys)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	11/8/2027		-		(44	)		(45	)		-	%
					45,455		44,967			44,955			1.3	%
Commercial Services & Supplies
Dude Solutions Holdings, Inc.(4)(5)	First lien senior secured loan	L + 6.25%	6/13/2025		83,722		82,289			83,302			2.4	%
Dude Solutions Holdings, Inc.(4)(15)(16)	First lien senior secured revolving loan	L + 6.25%	6/13/2025		-		(90	)		(35	)		-	%
					83,722		82,199			83,267			2.4	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Industrial Conglomerates
QAD, Inc.(4)(6)(13)	First lien senior secured loan	L + 6.00%	11/5/2027		88,571		86,838			86,800			2.5	%
QAD, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	11/5/2027		-		(223	)		(229	)		-	%
					88,571		86,615			86,571			2.5	%
Construction & Engineering
Dodge Data & Analytics LLC(4)(8)(13)	First lien senior secured loan	L + 7.50%	4/14/2026		49,751		48,873			51,243			1.5	%
Dodge Data & Analytics LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 7.50%	4/14/2026		-		(49	)		-			-	%
					49,751		48,824			51,243			1.5	%
Diversified Consumer Services
Litera Bidco LLC(4)(5)(13)	First lien senior secured loan	L + 5.87%	5/29/2026		156,693		155,102			156,694			4.4	%
Litera Bidco LLC(4)(5)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 6.00%	10/29/2022		2,873		2,793			2,873			0.1	%
Litera Bidco LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	5/29/2026		-		(63	)		-			-	%
Muine Gall, LLC(4)(8)(13)(20)(22)	First lien senior secured loan	L + 7.00% PIK	9/20/2024		204,167		204,450			204,167			5.8	%
Relativity ODA LLC(4)(5)(13)	First lien senior secured loan	L + 7.50%	5/12/2027		118,531		116,985			117,049			3.3	%
Relativity ODA LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.50%	5/12/2027		-		(151	)		(141	)		-	%
Transact Holdings Inc.(4)(5)(13)	First lien senior secured loan	L + 4.75%	4/30/2026		8,798		8,710			8,696			0.2	%
					491,062		487,826			489,338			13.8	%
Diversified Financial Services
Hg Genesis 8 Sumoco Limited(4)(9)(13)(22)	Unsecured facility	S + 7.50% PIK	8/28/2025		73,596		71,875			73,596			2.1	%
Hg Saturn Luchaco Limited(4)(9)(13)(22)	Unsecured facility	S + 7.50% PIK	3/30/2026		126,817		128,378			125,548			3.6	%
NMI Acquisitionco, Inc. (dba Network Merchants)(4)(5)(13)	First lien senior secured loan	L + 5.75%	9/8/2025		17,118		16,957			17,007			0.5	%
NMI Acquisitionco, Inc. (dba Network Merchants)(4)(5)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 5.75%	10/2/2023		3,360		3,293			3,338			0.1	%
NMI Acquisitionco, Inc. (dba Network Merchants)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	9/8/2025		-		(16	)		(7	)		-	%
Smarsh Inc.(4)(5)	First lien senior secured loan	L + 8.25%	11/20/2025		31,950		31,429			31,710			0.9	%
					252,841		251,916			251,192			7.2	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Energy Equipment & Services
3ES Innovation Inc. (dba Aucerna)(4)(7)(13)(22)	First lien senior secured loan	L + 6.75%	5/13/2025		72,070		71,433			70,989			2.0	%
3ES Innovation Inc. (dba Aucerna)(4)(13)(15)(16)(22)	First lien senior secured revolving loan	L + 6.75%	5/13/2025		-		(32	)		(69	)		-	%
Project Power Buyer, LLC (dba PEC-Veriforce)(4)(7)(13)	First lien senior secured loan	L + 6.00%	5/14/2026		53,049		52,545			53,049			1.5	%
Project Power Buyer, LLC (dba PEC-Veriforce)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	5/14/2025		-		(26	)		-			-	%
					125,119		123,920			123,969			3.5	%
Health Care Technology
BCPE Osprey Buyer, Inc. (dba PartsSource)(4)(8)(13)	First lien senior secured loan	L + 5.75%	8/23/2028		117,672		115,873			115,790			3.3	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 5.75%	8/23/2023		-		(278	)		(137	)		-	%
BCPE Osprey Buyer, Inc. (dba PartsSource)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	8/21/2026		-		(196	)		(196	)		-	%
Datix Bidco Limited (dba RLDatix)(4)(12)(13)(22)	First lien senior secured loan	G + 4.50%	4/28/2025		863		860			848			-	%
Datix Bidco Limited (dba RLDatix)(4)(12)(13)(22)	Second lien senior secured loan	G + 7.75%	4/27/2026		9,030		8,992			8,872			0.3	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(4)(7)(13)	First lien senior secured loan	L + 6.00%	10/30/2028		24,103		23,631			23,621			0.7	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 6.00%	10/29/2023		-		(36	)		(37	)		-	%
GI Ranger Intermediate, LLC (dba Rectangle Health)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.00%	10/29/2027		-		(43	)		(44	)		-	%
Hyland Software, Inc.(4)(5)(13)	Second lien senior secured loan	L + 6.25%	7/7/2025		94,842		94,806			95,440			2.7	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(4)(7)(13)(22)	First lien senior secured loan	L + 6.25%	8/21/2026		154,245		152,689			153,859			4.4	%
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.)(4)(7)(13)(15)(22)	First lien senior secured revolving loan	L + 6.25%	8/21/2026		3,978		3,925			3,962			0.1	%
Interoperability Bidco, Inc.(4)(8)(13)	First lien senior secured loan	L + 5.75%	6/25/2026		94,087		93,271			94,087			2.7	%
Interoperability Bidco, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	6/25/2024		-		(31	)		-			-	%
Inovalon Holdings, Inc.(4)(7)(13)	First lien senior secured loan	L + 5.75%	11/24/2028		129,485		126,287			126,248			3.6	%
Inovalon Holdings, Inc.(4)(13)(15)(16)(17)	First lien senior secured delayed draw term loan	L + 5.75%	5/24/2024		-		(170	)		(173	)		-	%
Inovalon Holdings, Inc.(4)(7)(13)	Second lien senior secured loan	L + 10.50% PIK	11/24/2033		61,681		60,452			60,447			1.7	%
RL Datix Holdings (USA), Inc.(4)(8)(13)(22)	First lien senior secured loan	L + 4.50%	4/28/2025		10,000		9,821			9,825			0.3	%
RL Datix Holdings (USA), Inc.(4)(8)(13)(22)	Second lien senior secured loan	L + 8.50%	4/27/2026		20,000		19,589			19,650			0.6	%
VVC Holdings Corp. (dba Athenahealth, Inc.)(4)(7)(13)(14)	First lien senior secured loan	L + 4.25%	2/11/2026		19,546		19,297			19,527			0.5	%
					739,532		728,739			731,589			20.9	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Hotels, Restaurants & Leisure
MINDBODY, Inc.(4)(8)(13)	First lien senior secured loan	L + 8.50% (incl. 1.50% PIK)	2/14/2025		78,972		78,487			78,972			2.2	%
MINDBODY, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 7.00%	2/14/2025		-		(37	)		-			-	%
					78,972		78,450			78,972			2.2	%
Household Durables
BCTO BSI Buyer, Inc. (dba Buildertrend)(4)(7)(13)	First lien senior secured loan	L + 7.00%	12/23/2026		62,500		61,962			62,188			1.8	%
BCTO BSI Buyer, Inc. (dba Buildertrend)(4)(7)(13)(15)	First lien senior secured revolving loan	L + 7.00%	12/23/2026		4,225		4,163			4,188			0.1	%
					66,725		66,125			66,376			1.9	%
Insurance
Asurion, LLC(4)(5)(13)(14)	Second lien senior secured loan	L + 5.25%	1/31/2028		10,833		10,603			10,860			0.3	%
Integrity Marketing Acquisition, LLC(4)(8)(13)	First lien senior secured loan	L + 5.75%	8/27/2025		55,138		54,526			55,138			1.6	%
Integrity Marketing Acquisition, LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	8/27/2025		-		(34	)		-			-	%
					65,971		65,095			65,998			1.9	%
Internet & Direct Marketing Retail
Walker Edison Furniture Company LLC(4)(8)(13)	First lien senior secured loan	L + 8.75% (3.00% PIK)	3/31/2027		33,689		33,689			32,004			0.9	%
					33,689		33,689			32,004			0.9	%
IT Services
Kaseya Inc.(4)(7)	First lien senior secured loan	L + 6.50% (incl. 1.00% PIK)	5/2/2025		47,694		47,126			47,695			1.3	%
Kaseya Inc.(4)(7)(15)(17)	First lien senior secured delayed draw term loan	L + 6.50% (incl. 1.00% PIK)	9/8/2023		1,470		1,414			1,470			-	%
Kaseya Inc.(4)(15)(16)	First lien senior secured revolving loan	L + 6.50%	5/2/2025		-		(27	)		-			-	%
BCPE Nucleon (DE) SPV, LP(4)(8)(13)	First lien senior secured loan	L + 7.00%	9/24/2026		133,333		131,631			132,667			3.8	%
Pluralsight, LLC(4)(8)(13)	First lien senior secured loan	L + 8.00%	4/6/2027		159,495		157,999			157,900			4.5	%
Pluralsight, LLC(4)(13)(15)(16)	First lien senior secured revolving loan	L + 8.00%	4/6/2027		-		(88	)		(100	)		-	%
					341,992		338,055			339,632			9.6	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Life Sciences Tools & Services
Bracket Intermediate Holding Corp.(4)(7)(13)	First lien senior secured loan	L + 4.25%	9/5/2025		393		371			392			-	%
Bracket Intermediate Holding Corp.(4)(7)(13)	Second lien senior secured loan	L + 8.13%	9/7/2026		20,000		19,730			19,900			0.6	%
					20,393		20,101			20,292			0.6	%
Professional Services
Cornerstone OnDemand, Inc.(4)(8)(13)	Second lien senior secured loan	L + 6.50%	10/15/2029		71,667		70,611			70,592			2.0	%
Gerson Lehrman Group, Inc.(4)(8)(13)	First lien senior secured loan	L + 5.25%	12/12/2024		104,964		104,132			104,964			3.0	%
Gerson Lehrman Group, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.25%	12/12/2024		-		(18	)		-			-	%
Motus Group, LLC(4)(7)(13)	Second lien senior secured loan	L + 6.50%	12/10/2029		17,868		17,690			17,689			0.5	%
Proofpoint, Inc.(4)(7)(13)	Second lien senior secured loan	L + 6.25%	8/31/2029		55,000		54,733			54,725			1.5	%
Thunder Purchaser, Inc. (dba Vector Solutions)(4)(6)(13)	First lien senior secured loan	L + 5.75%	6/30/2028		132,957		131,701			131,960			3.7	%
Thunder Purchaser, Inc. (dba Vector Solutions)(4)(13)(15)(17)	First lien senior secured delayed draw term loan	L + 5.75%	8/17/2023		-		-			-			-	%
Thunder Purchaser, Inc. (dba Vector Solutions)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	6/30/2027		-		(72	)		(59	)		-	%
When I Work, Inc.(4)(7)	First lien senior secured loan	L + 6.00%	11/2/2027		29,895		29,603			29,596			0.8	%
When I Work, Inc.(4)(15)(16)	First lien senior secured revolving loan	L + 6.00%	11/2/2027		-		(55	)		(56	)		-	%
					412,351		408,325			409,411			11.5	%
Real Estate Management & Development
Reef Global Acquisition LLC (fka Cheese Acquisition, LLC)(4)(8)(13)	First lien senior secured loan	L + 6.00% (incl. 1.25% PIK)	11/28/2024		37,385		37,200			35,702			1.0	%
Imperial Parking Canada(4)(10)(13)	First lien senior secured loan	C + 6.00% (incl. 1.25% PIK)	11/28/2024		7,768		7,421			7,419			0.2	%
Reef Global Acquisition LLC (fka Cheese Acquisition, LLC)(4)(5)(13)(15)	First lien senior secured revolving loan	L + 4.75%	11/28/2023		3,052		3,051			2,847			0.1	%
REALPAGE, Inc.(4)(5)(13)	Second lien senior secured loan	L + 6.50%	4/23/2029		52,500		51,768			53,104			1.5	%
					100,705		99,440			99,072			2.8	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)			Fair Value			Percentage of Net Assets
Systems Software
Acquia Inc.(4)(8)	First lien senior secured loan	L + 7.00%	10/31/2025		152,102		150,943			152,102			4.3	%
Acquia Inc.(4)(15)(16)	First lien senior secured revolving loan	L + 7.00%	10/31/2025		-		(75	)		-			-	%
Bayshore Intermediate #2, L.P. (dba Boomi)(4)(7)(13)	First lien senior secured loan	L + 7.75% PIK	10/2/2028		140,323		137,251			137,166			3.9	%
Bayshore Intermediate #2, L.P. (dba Boomi)(4)(13)(15)(16)	First lien senior secured revolving loan	L + 6.75%	10/1/2027		-		(252	)		(263	)		-	%
Barracuda Networks, Inc.(4)(7)(13)	Second lien senior secured loan	L + 6.75%	10/30/2028		7,500		7,433			7,500			0.2	%
Centrify Corporation(4)(7)(13)	First lien senior secured loan	L + 5.75%	3/2/2028		80,107		78,287			78,504			2.2	%
Centrify Corporation(4)(13)(15)(16)	First lien senior secured revolving loan	L + 5.75%	3/2/2027		-		(207	)		(163	)		-	%
Circle Internet Services, Inc.(4)(7)	First lien senior secured loan	L + 8.00%	5/22/2023		25,000		24,943			25,250			0.7	%
Forescout Technologies, Inc.(4)(7)(13)	First lien senior secured loan	L + 9.50% PIK	8/17/2026		85,450		84,372			85,450			2.4	%
Forescout Technologies, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 8.50%	8/18/2025		-		(106	)		-			-	%
Delta TopCo, Inc. (dba Infoblox, Inc.)(4)(8)(13)	Second lien senior secured loan	L + 7.25%	12/1/2028		20,000		19,912			20,000			0.6	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(4)(8)(13)(22)	First lien senior secured loan	L + 7.50%	4/16/2026		148,889		145,484			148,889			4.2	%
H&F Opportunities LUX III S.À R.L (dba Checkmarx)(4)(13)(15)(16)(22)	First lien senior secured revolving loan	L + 7.50%	4/16/2026		-		(536	)		-			-	%
Ivanti Software, Inc.(4)(7)	Second lien senior secured loan	L + 8.50%	12/1/2028		21,000		20,437			20,895			0.6	%
Tahoe Finco, LLC(4)(7)(13)(22)	First lien senior secured loan	L + 6.00%	9/29/2028		172,093		170,420			170,028			4.8	%
Tahoe Finco, LLC(4)(13)(15)(16)(22)	First lien senior secured revolving loan	L + 6.00%	10/1/2027		-		(124	)		(155	)		-	%
					852,464		838,182			845,203			23.9	%
Thrifts & Mortgage Finance
Blend Labs, Inc.(4)(8)(13)	First lien senior secured loan	L + 7.50%	6/30/2026		112,500		109,980			110,250			3.1	%
Blend Labs, Inc.(4)(13)(15)(16)	First lien senior secured revolving loan	L + 7.50%	6/30/2026		-		(112	)		(250	)		-	%
					112,500		109,868			110,000			3.1	%
Total non-controlled/non-affiliated portfolio company debt investments				$	4,833,570	$	4,769,335		$	4,789,168			135.7	%

Owl Rock Technology Finance Corp.

Consolidated Schedule of Investments

As of December 31, 2021

(Amounts in thousands, except share amounts)


Company(1)(19)(23)	Investment	Interest	Maturity Date	Par / Units		Amortized Cost(2)(3)		Fair Value		Percentage of Net Assets
Equity Investments
Aerospace & Defense
Space Exploration Technologies Corp.(13)(18)(24)	Class A Common Stock	N/A	N/A		29,074		14,005		16,281		0.5	%
Space Exploration Technologies Corp.(13)(18)(24)	Class C Common Stock	N/A	N/A		8,425		4,011		4,718		0.1	%
							18,016		20,999		0.6	%
Application Software
Alpha Partners Technology Merger Corp(14)(22)(24)	Common Stock	N/A	N/A		2,000,000		20,027		19,561		0.6	%
Alpha Partners Technology Merger Corp(22)(24)	Sponsor Shares	N/A	N/A		100,000		1,000		2,562		0.1	%
EShares, Inc. (dba Carta)(18)(24)	Series E Preferred Stock	N/A	N/A		186,904		2,008		7,532		0.2	%
Diligent Preferred Issuer, Inc. (dba Diligent Corporation)(13)(18)	Preferred Stock	10.50% PIK	N/A		15,000		15,403		15,407		0.4	%
MessageBird BidCo B.V.(13)(18)(22)(24)	Warrants	N/A	N/A		191,530		1,174		1,174		-	%
Nylas, Inc.(18)(24)	Series C Preferred Stock	N/A	N/A		2,088,467		15,009		15,000		0.4	%
Saturn Ultimate, Inc.(13)(18)(24)	Common Stock	N/A	N/A		4,421,347		25,001		55,806		1.6	%
							79,622		117,042		3.3	%
Capital Markets
Robinhood Markets, Inc.(11)(18)(22)(24)	Common Stock	N/A	N/A		2,416,000		64,319		42,908		1.2	%
							64,319		42,908		1.2	%
Construction & Engineering
Skyline Holdco B, Inc. (dba Dodge Data & Analytics)(13)(18)(24)	Series A Preferred Stock	N/A	N/A		3,333,333		5,000		5,519		0.2	%
							5,000		5,519		0.2	%
Consumer Finance
Remitly Global, Inc (18)(24)	Common Stock	N/A	N/A		2,772,231

Form: 10-Q

Documents