INCREASE AGREEMENT

Exhibit 10.1

EXECUTION VERSION

INCREASE AGREEMENT

Reference is made to the that certain Credit Agreement dated as of October 27, 2021 (as the same may be amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”), by and among TrinCap Funding, LLC, as Borrower (the “Borrower”), Trinity Capital Inc., as Servicer (the “Servicer”), the Lenders from time to time party thereto, KeyBank National Association, as the Administrative Agent (the “Administrative Agent”) and Syndication Agent and Computershare Trust Company, N.A., as Collateral Custodian. Capitalized terms used and not otherwise defined herein are used with the meanings set forth or incorporated by reference in the Credit Agreement.

Zions Bancorporation, N.A. dba California Bank & Trust (the “Zions Increasing Managing Agent”), Zions Bancorporation, N.A. dba California Bank & Trust (the “Zions Increasing Lender”; and together with the Zions Increasing Managing Agent, the “Zions Increasing Lender Group”), ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Bank (the “▇▇▇▇▇▇▇ Increasing Managing Agent”), ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Bank (the “▇▇▇▇▇▇▇ Increasing Lender”; and together with the ▇▇▇▇▇▇▇ Increasing Managing Agent, the “▇▇▇▇▇▇▇ Increasing Lender Group”), Live Oak Banking Company (the “Live Oak Increasing Managing Agent”), Live Oak Banking Company (the “Live Oak Increasing Lender”; and together with the Live Oak Increasing Managing Agent, the “Live Oak Increasing Lender Group”), Customers Bank (the “Customers Increasing Managing Agent”), Customers Bank (the “Customers Increasing Lender”; and together with the Customers Increasing Managing Agent, the “Customers Increasing Lender Group”), Axos Bank (the “Axos Increasing Managing Agent”), Axos Bank (the “Axos Increasing Lender”; and together with the Axos Increasing Managing Agent, the “Axos Increasing Lender Group”), MUFG Bank, Ltd. (the “MUFG Increasing Managing Agent”), MUFG Bank, Ltd. (the “MUFG Increasing Lender”; and together with the MUFG Increasing Managing Agent, the “MUFG Increasing Lender Group”), City National Bank (the “City National Increasing Managing Agent”), City National Bank (the “City National Increasing Lender”; and together with the City National Increasing Managing Agent, the “City National Increasing Lender Group”), Columbia Bank (f/k/a Umpqua Bank) (the “Columbia Increasing Managing Agent”), Columbia Bank (f/k/a Umpqua Bank) (the “Columbia Increasing Lender”; and together with the Columbia Increasing Managing Agent, the “Columbia Increasing Lender Group”), Western Alliance Bank (the “Western Alliance Increasing Managing Agent”; and collectively with the Zions Increasing Managing Agent, the ▇▇▇▇▇▇▇ Increasing Managing Agent, the Live Oak Increasing Managing Agent, the Customers Increasing Managing Agent, the Axos Increasing Managing Agent, the MUFG Increasing Managing Agent, the City National Increasing Managing Agent and the Columbia Increasing Managing Agent, the “Increasing Managing Agents”, and each, an “Increasing Managing Agent”), Western Alliance Bank (the “Western Alliance Increasing Lender”; and together with the Western Alliance Increasing Managing Agent, the “Western Alliance Increasing Lender Group”; the Zions Increasing Lender, the ▇▇▇▇▇▇▇ Increasing Lender, the Live Oak Increasing Lender, the Customers Increasing Lender, the Axos Increasing Lender, the MUFG Increasing Lender, the City National Increasing Lender, the Columbia Increasing Lender and the Western Alliance Increasing Lender collectively, the “Increasing Lenders”, and each, an “Increasing Lender”; the Zions Increasing Lender Group, the ▇▇▇▇▇▇▇ Increasing Lender Group, the Live Oak

Increasing Lender Group, the Customers Increasing Lender Group, the Axos Increasing Lender Group, the MUFG Increasing Lender Group, the City National Increasing Lender Group, the Columbia Increasing Lender Group and the Western Alliance Increasing Lender Group collectively, the “Increasing Lender Groups”, and each, an “Increasing Lender Group”), the Administrative Agent, the Borrower and the Servicer agree as follows:

1.Borrower has requested that (i) the Zions Increasing Lender increase its Commitment under the Credit Agreement by $4,210,526.32 (the “Zions Increase”), (ii) the ▇▇▇▇▇▇▇ Increasing Lender increase its Commitment under the Credit Agreement by $4,210,526.32 (the “▇▇▇▇▇▇▇ Increase”), (iii) the Live Oak Increasing Lender increase its Commitment under the Credit Agreement by $8,421,052.63 (the “Live Oak Increase”), (iv) the Customers Increasing Lender increase its Commitment under the Credit Agreement by $16,842,105.26 (the “Customers Increase”), (v) the Axos Increasing Lender increase its Commitment under the Credit Agreement by $7,894,736.84 (the “Axos Increase”), (vi) the MUFG Increasing Lender increase its Commitment under the Credit Agreement by $21,052,631.58 (the “MUFG Increase”), (vii) the City National Increasing Lender increase its Commitment under the Credit Agreement by $4,210,526.32 (the “City National Increase”), (viii) the Columbia Increasing Lender increase its Commitment under the Credit Agreement by $21,052,631.58 (the “Columbia Increase”) and (ix) the Western Alliance Increasing Lender increase its Commitment under the Credit Agreement by $2,105,263.15 (the “Western Alliance Increase”; and collectively with the Zions Increase, the ▇▇▇▇▇▇▇ Increase, the Live Oak Increase, the Customers Increase, the Axos Increase, the MUFG Increase, the City National Increase and the Columbia Increase, the “Increases”, and each, an “Increase”).

2.The effective date (the “Increase Date”) of the Increases shall be the date on which (i) a fully executed copy of this Increase Agreement is delivered to, and consented to by, the Administrative Agent and (ii) the conditions set forth in Section 2.3(c) of the Credit Agreement have been satisfied, the Borrower’s executed consent to this Increase Agreement being a representation and warranty of the Borrower that such conditions set forth in Section 2.3(c) of the Credit Agreement have been satisfied.

3.By executing and delivering this Increase Agreement, each Increasing Managing Agent and each Increasing Lender (i) confirms that it has received a copy of the Credit Agreement and such Transaction Documents and other documents and information requested by it, and that it has, independently and without reliance upon the Borrower, the Servicer, any other Lender, any other Managing Agent or the Administrative Agent, and based on such documentation and information as it has deemed appropriate, made its own decision to enter into this Increase Agreement; (ii) agrees that it shall, independently and without reliance upon the Borrower, the Servicer, any other Lender, any other Managing Agent or the Administrative Agent, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement and any of the Transaction Documents; (iii) acknowledges that it has appointed and authorized the Administrative Agent to take such action on its behalf and to exercise such powers and discretion under the Credit Agreement and the Transaction Documents as are delegated to the Administrative Agent by the terms hereof and thereof, together with such powers and discretion as are reasonably incidental thereto; and (iv) agrees that it shall continue to perform in accordance with their terms all of the obligations that by the terms of the Credit Agreement are required to be performed by it as a Managing Agent and a Lender, respectively, after giving effect to this Increase Agreement.

4.On the Increase Date of this Increase Agreement, (i) the Commitment of the Zions Increasing Lender shall be increased by $4,210,526.32, (ii) the Commitment of the ▇▇▇▇▇▇▇ Increasing Lender shall be increased by $4,210,526.32, (iii) the Commitment of the Live Oak Increasing Lender shall be increased by $8,421,052.63, (iv) the Commitment of the Customers Increasing Lender shall be increased by $16,842,105.26, (v) the Commitment of the Axos Increasing Lender shall be increased by $7,894,736.84, (vi) the Commitment of the MUFG Increasing Lender shall be increased by $21,052,631.58, (vii) the Commitment of the City National Increasing Lender shall be increased by $4,210,526.32, (viii) the Commitment of the Columbia Increasing Lender shall be increased by $21,052,631.58 and (ix) the Commitment of the Western Alliance Increasing Lender shall be increased by $2,105,263.15.

5.This Increase Agreement may be executed by one or more of the parties on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

6.This Increase Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

IN WITNESS WHEREOF, the parties hereto have caused this Increase Agreement to be executed by their respective officers thereunto duly authorized, as of the date first below written, such execution being made on Schedule I hereto.

* * * * *

Schedule I

to

Increase Agreement

Dated September 4, 2025

Section 1.

The “Commitment” with respect to the Zions Increasing Lender after giving effect to the Zions Increase is $34,210,526.32.

The “Commitment” with respect to the ▇▇▇▇▇▇▇ Increasing Lender after giving effect to the ▇▇▇▇▇▇▇ Increase is $39,210,526.32.

The “Commitment” with respect to the Live Oak Increasing Lender after giving effect to the Live Oak Increase is $48,421,052.63.

The “Commitment” with respect to the Customers Increasing Lender after giving effect to the Customers Increase is $96,842,105.26.

The “Commitment” with respect to the Axos Increasing Lender after giving effect to the Axos Increase is $82,894,736.84.

The “Commitment” with respect to the MUFG Increasing Lender after giving effect to the MUFG Increase is $96,052,631.58.

The “Commitment” with respect to the City National Increasing Lender after giving effect to the City National Increase is $44,210,526.32.

The “Commitment” with respect to the Columbia Increasing Lender after giving effect to the Columbia Increase is $56,052,631.58.

The “Commitment” with respect to the Western Alliance Increasing Lender after giving effect to the Western Alliance Increase is $22,105,263.15.

Section 2.

The “Group Advance Limit” with respect to the Zions Increasing Lender Group after giving effect to the Zions Increase is $34,210,526.32.

The “Group Advance Limit” with respect to the ▇▇▇▇▇▇▇ Increasing Lender Group after giving effect to the ▇▇▇▇▇▇▇ Increase is $39,210,526.32.

The “Group Advance Limit” with respect to the Live Oak Increasing Lender Group after giving effect to the Live Oak Increase is $48,421,052.63.

The “Group Advance Limit” with respect to the Customers Increasing Lender Group after giving effect to the Customers Increase is $96,842,105.26.

The “Group Advance Limit” with respect to the Axos Increasing Lender Group after giving effect to the Axos Increase is $82,894,736.84.

The “Group Advance Limit” with respect to the MUFG Increasing Lender Group after giving effect to the MUFG Increase is $96,052,631.58.

The “Group Advance Limit” with respect to the City National Increasing Lender Group after giving effect to the City National Increase is $44,210,526.32.

The “Group Advance Limit” with respect to the Columbia Increasing Lender Group after giving effect to the Columbia Increase is $56,052,631.58.

The “Group Advance Limit” with respect to the Western Alliance Increasing Lender Group after giving effect to the Western Alliance Increase is $22,105,263.15.

ZIONS INCREASING LENDER AND ▇▇▇▇▇ INCREASING MANAGING AGENT:

ZIONS BANCORPORATION, N.A. DBA CALIFORNIA BANK & TRUST

	By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇
		Name: ▇▇▇▇▇ ▇▇▇▇▇
		Title: Senior Vice President

▇▇▇▇▇▇▇ INCREASING LENDER AND ▇▇▇▇▇▇▇ INCREASING MANAGING AGENT:

▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BANK

	By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Title: Senior Vice President

LIVE OAK INCREASING LENDER AND LIVE OAK INCREASING MANAGING AGENT:

LIVE OAK BANKING COMPANY

	By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
		Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
		Title: Director

CUSTOMERS INCREASING LENDER AND CUSTOMERS INCREASING MANAGING AGENT:

CUSTOMERS BANK

	By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇
		Name: ▇▇▇▇▇ ▇▇▇▇▇
		Title: Senior Vice President

AXOS INCREASING LENDER AND ▇▇▇▇ INCREASING MANAGING AGENT:

AXOS BANK

	By:	/s/ ▇▇▇▇▇ ▇▇▇▇
		Name: ▇▇▇▇▇ ▇▇▇▇
		Title: President

MUFG INCREASING LENDER AND MUFG INCREASING MANAGING AGENT:

MUFG BANK, LTD.

	By:	/s/ ▇▇▇ ▇▇▇▇▇▇
		Name: ▇▇▇ ▇▇▇▇▇▇
		Title: Vice President

CITY NATIONAL INCREASING LENDER AND CITY NATIONAL INCREASING MANAGING AGENT:

CITY NATIONAL BANK

	By:	/s/ ▇▇▇ ▇▇▇▇▇▇-▇▇▇▇▇▇▇
		Name: ▇▇▇ ▇▇▇▇▇▇-▇▇▇▇▇▇▇
		Title: Managing Director

COLUMBIA INCREASING LENDER AND COLUMBIA INCREASING MANAGING AGENT:

COLUMBIA BANK (F/K/A UMPQUA BANK)

	By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
		Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
		Title: Senior Vice President

WESTERN ALLIANCE INCREASING LENDER AND WESTERN ALLIANCE INCREASING MANAGING AGENT:

WESTERN ALLIANCE BANK

	By:	/s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
		Name: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
		Title: Director

Consented to this 4th day of September 2025 by:

KEYBANK NATIONAL ASSOCIATION,

as Administrative Agent

By:	/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
	Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
	Title: Senior Vice President

TRINCAP FUNDING, LLC,

as Borrower

By: Trinity Capital Inc., its sole and managing member

By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Title: General Counsel and Secretary

TRINITY CAPITAL INC.,

as Servicer

By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Title: General Counsel and Secretary