8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                       -----------------------------------

                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                 Date of Report (Date of earliest event reported):

                                September 8, 2004

                       TECHNOLOGY INVESTMENT CAPITAL CORP.
             (Exact name of registrant as specified in its charter)




         MARYLAND                                000-50398                               20-0118736
(State or other jurisdiction             (Commission File Number)           (I.R.S. Employer Identification No.)
of incorporation)


                         8 SOUND SHORE DRIVE, SUITE 255
                               GREENWICH, CT 06830
              (Address of principal executive offices and zip code)

        Registrant's telephone number, including area code: (203) 983-5275


Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:

[   ] Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))




ITEM 8.01     OTHER EVENTS.


On September 8, 2004, Technology Investment Capital Corp. issued a press release
announcing that it has completed a $15 million transaction with TrenStar, Inc.,
a leading provider of radio frequency identification ("RFID")-enabled mobile
asset management solutions to major industrial companies. Technology Investment
Capital Corp.'s investment consists of senior notes with warrants. The text of
the press release is included as Exhibit 99.1 to this Form 8-K.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.

         (a) Not applicable.

         (b) Not applicable.

         (c) Exhibits.


               EXHIBIT NO.                DESCRIPTION
               -----------                -----------

               99.1                       Press release dated September 8, 2004













                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



Date:    September 9, 2004                  TECHNOLOGY INVESTMENT CAPITAL CORP.


                                            By: /s/ Saul B. Rosenthal
                                               ------------------------------
                                                Saul B. Rosenthal
                                                Chief Operating Officer

EX-99.1

                                                                   Exhibit 99.1

                       TECHNOLOGY INVESTMENT CAPITAL CORP.
                         8 Sound Shore Drive, Suite 255
                               Greenwich, CT 06830
                     Tel: (203) 983-5275 Fax: (203) 983-5290

           TICC ANNOUNCES $15 MILLION TRANSACTION WITH TRENSTAR, INC.

Greenwich, CT - 9/8/2004 - Technology Investment Capital Corp. (NASDAQ: TICC)
announced today that it has completed a $15 million transaction with TrenStar,
Inc., a leading provider of radio frequency identification ("RFID")-enabled
mobile asset management solutions to major industrial companies. TrenStar's
outsourced solution combines RFID and asset tracking technology with logistics
services to help customers track containers as they move through the supply
chain and optimize asset utilization. TrenStar is backed by The Carlyle Group
and Trencor Ltd (JSE: TRE). TICC's investment consists of senior notes with
warrants.

"With TICC's financing, TrenStar should be able to continue to execute on its
growth strategy, creating additional value as a leading global provider of
cutting-edge supply chain technology and asset management solutions," says Greg
Cronin, TrenStar's CEO. Anand Gowda, a Principal at The Carlyle Group adds, "we
are pleased to be working closely with TICC and view them as a strong partner in
our commitment to TrenStar."

ABOUT TRENSTAR
TrenStar's supply chain technology and services heritage has evolved into a
pioneering RFID-enabled, "pay-per-use" model of mobile asset management designed
to reduce transportation and operating costs for companies invested in
containers that move raw materials, work-in-progress and finished goods through
the supply chain. TrenStar's three-part asset management, logistics services and
supply chain technology solution, integrating RFID and container tracking
software, is offered to qualified clients for no up front cost. This solution is
intended to benefit multiple companies in an asset-intensive industry
participating in TrenStar's distinctive asset pooling operations.

TrenStar and its affiliates focus on brewing, beverage, food, synthetic rubber,
air cargo, healthcare and other asset-intensive industries. TrenStar is
headquartered in Denver, Colorado and has offices in the United Kingdom,
Australia and South Africa. Please visit www.trenstar.com for more information.

ABOUT TECHNOLOGY INVESTMENT CAPITAL CORP.
We are a publicly-traded business development company principally engaged in
providing capital to small to mid-size technology-related companies. While the
structures of our financings vary, we look to invest primarily in the non-public
debt and equity of established technology-related businesses. Companies
interested in learning more about financing opportunities should contact Barry
Osherow at (203) 661-9572 or visit our website at www.ticc.com.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements subject to the inherent
uncertainties in predicting future results and conditions. Any statements that
are not statements of historical fact (including statements containing the words
"believes," "plans," "anticipates," "expects," "estimates" and similar
expressions) should also be considered to be forward-looking statements. Certain
factors could cause actual results and conditions to differ materially from
those projected in these forward-looking statements. These factors are
identified from time to time in our filings with the Securities and Exchange
Commission. We undertake no obligation to update such statements to reflect
subsequent events.