Portfolio

As of December 31, 2022, BlackRock TCP Capital Corp.’s investment portfolio consisted of debt and equity positions in 136 portfolio companies with a total fair value of approximately $1.6 billion. Debt positions represented approximately 88% of the portfolio fair value, substantially all of which were senior secured debt. Equity positions represented approximately 11.8% of the investment portfolio.

As of December 31, 2022, the weighted average annual effective yield of our debt portfolio was approximately 12.7%.(1) As of December 31, 2022, approximately 94% of our debt portfolio at fair value had floating interest rates.

Investments by Industry as of December 31, 2022.

Investments by asset type as of December 31, 2022

(1) Weighted average annual effective yield includes amortization of deferred debt origination and end of term fees and accretion of original issue discount, but excludes market discount, any prepayment and make-whole fee income, and any debt investments that are distressed or on non-accrual status. Weighted average effective yield on the total portfolio (including debt investments that are distressed or on non-accrual status and equity investments) was 12% as of December 31, 2022.