May 14 - Chicago Atlantic BDC LIEN.O reported higher first-quarter income on Thursday, as growth in its investment portfolio boosted interest and fee income.

Net investment income rose to $10 million, or 44 cents per share, for the quarter ended March 31, from $7.6 million, or 34 cents per share, a year earlier.

Total investment income increased to $16.7 million from $11.9 million, helped by higher interest income and a jump in fee income.

Net asset value per share rose to $13.33 from $13.30 at December 31.

The company’s investment portfolio grew to $364 million at fair value from $333.3 million at the end of 2025. Borrowings under its revolving credit facility more than doubled to $54.5 million from $25.0 million at December 31.

The company recorded $1.4 million in unrealized losses on its portfolio, compared with little change a year earlier.