Available Capital

TNCV is permitted to invest up to 15% of its total fund size in any one portfolio company. TNCV is required to have invested at least 50%, 70%, 80% and 90% of the Base Amount (which calculation and amount is defined in the TNInvestco legislation) by the first day of 2012, 2013, 2014, and 2016, respectively.

As of the end of 2Q 2010, TNCV had committed approximately 30% of its fund to new portfolio company investments.