Based on the provided financial report articles, the title of the article is: "Consolidated Balance Sheets and Statements of Operations for the Years Ended December 31, 2024, 2023, and 2022" Please note that the title may not be explicitly stated in the provided text, but it can be inferred based on the content and format of the financial report.

Overview

SuRo Capital Corp. is an internally managed, non-diversified closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. The company’s investment objective is to maximize its portfolio’s total return, primarily by seeking capital gains on its equity and equity-related investments, and to a lesser extent, income from debt investments.

SuRo Capital invests principally in the equity securities of rapidly growing venture capital-backed emerging companies across several key industry themes, including Software-as-a-Service, Artificial Intelligence, Consumer Goods & Services, Education Technology, Logistics & Supply Chain, Financial Technology, and Sports. The company acquires its investments through direct investments, secondary marketplaces, negotiations with selling stockholders, and investments in SPVs and investment funds.

Financial Performance

SuRo Capital’s investment income decreased from $6.60 million in 2023 to $4.67 million in 2024, primarily due to the cessation of interest income from short-term U.S. Treasury bills and from Architect Capital PayJoy SPV, LLC following the redemption of that investment. The company also saw decreases in interest income from debt investments and dividend income from certain portfolio companies.

Total operating expenses decreased from $20.04 million in 2023 to $18.62 million in 2024, driven by reductions in income tax expense, professional fees, compensation expense, and other expenses. This resulted in a net investment loss of $13.95 million in 2024, compared to a net investment loss of $13.44 million in 2023.

SuRo Capital recognized a net realized loss on investments of $5.02 million in 2024, an improvement from the $11.95 million net realized loss in 2023. The company also had a net change in unrealized depreciation of $18.97 million in 2024, compared to $30.45 million in net unrealized appreciation in 2023.

Overall, SuRo Capital reported a net decrease in net assets resulting from operations of $38.12 million in 2024, compared to a $5.07 million increase in 2023.

Strengths and Weaknesses

Key strengths of SuRo Capital include:

• Disciplined investment approach focused on high-growth, venture-backed companies
• Diversified portfolio across multiple industry themes
• Internally managed structure that aligns management incentives with shareholders
• Ample liquidity to support near-term capital requirements

Weaknesses include:

• Dependence on future capital raises to meet operating needs due to lack of current income from portfolio
• Volatility in net realized and unrealized gains/losses on investments
• Exposure to risks associated with investing in early-stage, private companies

Outlook

Looking ahead, SuRo Capital will continue to focus on identifying promising investment opportunities in high-growth, venture-backed companies across its key industry themes. The company’s internally managed structure and disciplined investment approach position it well to navigate the challenges facing the venture capital and private equity markets.

However, SuRo Capital’s performance will remain subject to the inherent risks of investing in early-stage private companies, including potential economic downturns, market volatility, and company-specific challenges. Maintaining adequate liquidity and managing operating expenses will be critical to the company’s long-term success.

Overall, SuRo Capital’s outlook is cautiously optimistic, as the company leverages its strengths to capitalize on attractive investment opportunities, while carefully managing the risks associated with its venture capital-focused strategy.