Fri, Dec 13, 9:28 PM (31 days ago)
**X1 Capital Inc. (X1)** is a newly formed business development company (BDC) under the Investment Company Act of 1940, with no operating history as of the fiscal year ending September 30, 2024. The company reported total assets of $6,000, with no revenue or expenses incurred during the year. As of September 30, 2024, the net asset value per share was $25, and there were no distributions made to shareholders. The company plans to primarily invest in senior secured loans and a lesser degree in equity of private companies, commencing after an initial capital raise of at least $10 million. The board of directors includes experienced members in finance and investment, with James Hickey serving as CEO. Key risks include potential economic downturns impacting portfolio companies, interest rate volatility, and competition from larger financial entities. X1 Capital aims to qualify as a regulated investment company (RIC) for favorable tax treatment but faces challenges due to its lack of investment history and reliance on external funding sources. The company has undergone recent changes, including the resignation of board member Richard Chang and the acquisition of shares by Growth Lending LLC, which now holds all outstanding shares. Future growth will depend on securing capital and successfully managing investments.