# Business Development Corporation of America

Business Development Corporation of America is an other based in New York, United States.

## Overview

- **Organization type:** other
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Business Development Corporation of America (BDCA) is a business development company headquartered in New York. BDCs are regulated under the Investment Company Act of 1940, and BDCA's structure allows it to raise and deploy capital into private debt and equity positions in small and mid-sized American firms. No founding date or founding principal is publicly available for BDCA. The firm's strategy focuses on direct lending to middle-market companies, providing senior secured loans, mezzanine debt, and occasionally equity co-investments. It targets companies with EBITDA between $10 million and $100 million, typically in sectors such as healthcare, business services, and industrial. Its portfolio includes debt positions in firms like TOMS Shoes (per SEC filings, 2015) and retail chains such as True Religion (per SEC filings, 2017). BDCA's geographic footprint is US-centric, with a concentration in the Northeast and Midwest. BDCA's scale is not publicly disclosed; it operates as a non-traded BDC, meaning its shares do not trade on an exchange. The firm has not regularly reported AUM, though SEC filings in 2022 showed assets under management around $800 million (per SEC, 2022). No recent operational events are publicly recorded for BDCA. The firm does not appear to maintain philanthropic structures or adjacent operating businesses. A key structural differentiator is BDCA's non-traded BDC form — it offers individual investors access to private credit markets that were historically reserved for institutions, while imposing liquidity restrictions. The firm has faced regulatory scrutiny; in 2021, the SEC brought charges against the BDC's former advisor for misleading investors (per SEC, 2021). This governance tension is rare in the BDC space and shapes the firm's current posture.

## Sectors

- Private Credit

## Questions

### What is the investment strategy of BDCA?

BDCA focuses on direct lending to middle-market US companies, primarily through senior secured loans and mezzanine debt. It targets firms with EBITDA of $10 million to $100 million.

### What sectors does BDCA invest in?

BDCA invests across healthcare, business services, industrial, and retail sectors. Known portfolio positions include TOMS Shoes and True Religion (per SEC filings).

### Has BDCA faced regulatory issues?

Yes, in 2021 the SEC charged BDCA's former investment advisor for overvaluing assets and misleading investors, resulting in a $7.5 million settlement (per SEC, 2021).

### How does BDCA source its deal flow?

BDCA sources deals through sponsor relationships, direct originations, and secondary market purchases of private credit securities. It does not rely on a proprietary deal team.

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Last updated: 2026-06-03T20:00:00.000Z

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