As of December 31, 2017 TCP Capital's investment portfolio consisted of debt and equity positions in 96 portfolio companies with a total fair value of approximately $1.5 billion. Debt positions represented approximately 93% of the portfolio fair value, substantially all of which were senior secured debt. Equity positions represented approximately 4% of the investment portfolio.
As of December 31, 2017, the weighted average annual effective yield of our debt portfolio was approximately 11.0%.(1) As of December 31, 2017, approximately 89% of our debt portfolio at fair value had floating interest rates.
(1) Weighted average annual effective yield includes amortization of deferred debt origination and and exit fees and original issue discount, but excludes market discount, any prepayment and make-whole fee income, and any debt investments on non-accrual status.
As of December 31, 2017: