Princeton Capital is a Business Development Company (BDC) — a closed-end investment company regulated under the Investment Company Act of 1940 — focused on debt and equity investments in private small and lower middle-market U.S. companies. Typical investment structures include first lien loans, second lien loans, unsecured loans, unitranche debt, and mezzanine debt, often paired with small equity co-investments. BDCs generate income from interest and fees on debt investments and capital gains on equity, with leverage amplifying returns. Princeton Capital has no employees; all investment management and operations are handled by its external advisor, House Hanover, which earns a base management fee of 1.00% per year of gross assets with no performance-based incentive fee. In practice, Princeton Capital is no longer actively deploying capital. Since late 2019, the company has been conducting a formal strategic alternatives review — evaluating options including asset sales, a merger, liquidation, or capital raise — with no resolution reached as of its most recent filing. The company is focused on managing its existing portfolio and conserving cash rather than originating new investments. Princeton Capital has also lost its Regulated Investment Company tax status, meaning it is taxed as a C corporation rather than passing income through to stockholders, a meaningful structural disadvantage relative to most BDCs.