Technology Lending

Technology lending is a private credit strategy within direct lending, focused on originating loans to middle and upper-market software and technology companies.

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Understanding tech lending Our approach Our solution Insights & resources Important information
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Access a rapidly growing, largely non-public market

With 99% of U.S. technology companies not being publicly traded1,2 and software spending forecasted to hit double-digital growth in 20243, technology lending presents a bespoke access point to a rapidly growing corner of the private markets ecosystem.

Understanding technology lending

Learn more about a different way to access private technology and software companies through the direct lending asset class.

Technology defined

Technology can broadly be broken out into four categories: IT Services, Hardware Devices, Semiconductors, and lastly, Software -- one of Blue Owl’s highest conviction areas for investment.

Blue Owl: a proven technology investor

Our dedicated technology-focused investment team, sitting in both Silicon Valley and New York, makes us a consequential player with the technology lending space.

0 +
technology-focused professionals
$ 0 B
technology lending AUM
investments reviewed
$ 650 B+
total volume reviewed

What sets our technology lending strategy apart?

We allocate to both traditional financing and growth capital that seeks to deliver attractive monthly income and upside potential.

  • Growth capital is made up of preferred and common equity, convertible notes, warrants, and unsecured debt.

  • Traditional financing is made up of first and second lien senior secured loans made to established private software companies, diversified by end market and low loan-to-values (LTVs).


Charts are for illustrative purposes only and are no representative of any investment's performance.

Our software approach

Growth capital


Traditional Financing


Purpose-built software lending

In a marketplace marked by volatility, correlation, and rising rates, direct lending to software companies seeks to mitigate market risk as the investments are diversified by the range of end markets. Furthermore, these software companies often have high renewal rates that can potentially offer stable, recurring revenues.

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Proven track record

We manage $20+ billion in technology finance assets and focus on capital preservation by conservatively structuring senior secured loans with low LTV.

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Large, market leading companies

Mission-critical software as a service (SaaS) businesses with blue-chip customer base with the potential for high-quality, predictable revenue profiles.

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End market diversification

We focus on software companies in non-cyclical sectors with wide-ranging products and end markets, and uncorrelated business drivers.

Our solution

Through a Business Development Company (BDC), we offer one technology-related solution, OTIC, that provide investors access points to our Credit platform.

Blue Owl Technology Income Corp (OTIC)

OTIC is a perpetually non-traded business development company that originates loans to, and makes debt investments in, US middle-market software and technology-related companies.

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Have a question?

Reach out to member of our Private Wealth team today.
Individual investors, please contact your financial advisor for more information.

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  1. Public Technology Companies represented by Russell 3000 list of IT holdings.
  2. Technology Total Market Source: CompTIA Cyberstates 2022 report as of March 2022.
  3. Gartner, Newsroom: Worldwide IT & Software Spending; pulled from press releases.

Important information

Unless otherwise noted the Report Date referenced herein is as of December 31, 2023.

Past performance is not a guarantee of future results.

Assets Under Management (“AUM”) refers to the assets that we manage and are generally equal to the sum of (i) net asset value (“NAV”); (ii) drawn and undrawn debt; and (iii) uncalled capital commitments.

The webpage presented is proprietary information regarding Blue Owl Capital Inc. (“Blue Owl”), its affiliates and investment program, funds sponsored by Blue Owl, including the Blue Owl Credit, GP Strategic Capital Funds and the Real Estate Funds (collectively the “Blue Owl Funds”) as well as investment held by the Blue Owl Funds.

An investment in the Fund entails a high degree of risk. Prospective investors should consider all of the risk factors set forth in the "Certain Risk Factors and Actual and Potential Conflicts of Interest" of the PPM or Prospectus, each of which could have an adverse effect on the Fund and on the value of Interests. 
An investment in the Fund is suitable only for sophisticated investors and requires the financial ability and willingness to accept the high risks and lack of liquidity associated with an investment in the Fund. Investors in the Fund must be prepared to bear such risks for an indefinite period of time. There will be restrictions on transferring interests in the Fund, and the investment performance of the Fund may be volatile. Investors must be prepared to hold their interests in the Fund until its dissolution and should have the financial ability and willingness to accept the risk characteristics of the Fund's investments.

There can be no assurances or guarantees that the Fund's investment objectives will be realized that the Fund's investment strategy will prove successful or that investors will not lose all or a portion of their investment in the Fund.

Furthermore, investors should not construe the performance of any predecessor funds as providing any assurances or predictive value regarding future performance of the Fund.

The views expressed and, except as otherwise indicated, the information provided are as of the report date and are subject to change, update, revision, verification, and amendment, materially or otherwise, without notice, as market or other conditions change. Since these conditions can change frequently, there can be no assurance that the trends described herein will continue or that any forecasts are accurate. In addition, certain of the statements contained in this webpage may be statements of future expectations and other forward-looking statements that are based on the current views and assumptions of Blue Owl and involve known and unknown risks and uncertainties (including those discussed below) that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. These statements may be forward-looking by reason of context or identified by words such as “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential or continue” and other similar expressions. Neither Blue Owl, its affiliates, nor any of Blue Owl’s or its affiliates' respective advisers, members, directors, officers, partners, agents, representatives or employees or any other person (collectively the “Blue Owl Entities”) is under any obligation to update or keep current the information contained in this document.

This webpage contains information from third party sources which Blue Owl has not verified. No representation or warranty, express or implied, is given by or on behalf of the Blue Owl Entities as to the accuracy, fairness, correctness or completeness of the information or opinions contained in this webpage and no liability whatsoever (in negligence or otherwise) is accepted by the Blue Owl Entities for any loss howsoever arising, directly or indirectly, from any use of this webpage or its contents, or otherwise arising in connection therewith.

All investments are subject to risk, including the loss of the principal amount invested. These risks may include limited operating history, uncertain distributions, inconsistent valuation of the portfolio, changing interest rates, leveraging of assets, reliance on the investment advisor, potential conflicts of interest, payment of substantial fees to the investment advisor and the dealer manager, potential illiquidity, and liquidation at more or less than the original amount invested. Diversification will not guarantee profitability or protection against loss. Performance may be volatile, and the NAV may fluctuate.

This webpage is for informational purposes only and is not an offer or a solicitation to sell or subscribe for any fund and does not constitute investment, legal, regulatory, business, tax, financial, accounting, or other advice or a recommendation regarding any securities of Blue Owl, of any fund or vehicle managed by Blue Owl, or of any other issuer of securities. Only a definitive offering document (i.e.: Prospectus or Private Placement Memorandum) can make such an offer. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or Private Placement Memorandum is truthful or complete. Any representation to the contrary is a criminal offense. Securities are offered through Blue Owl Securities LLC, member of FINRA/SIPC, as Dealer Manager.