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):

                                 March 28, 2005

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


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


                         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 March 28, 2005, Technology Investment Capital Corp. issued a press release
announcing that it has completed an $8 million investment in senior secured
notes issued by CrystalTech Web Hosting, Inc., an Internet services company
providing web hosting services as well as domain registration and other services
to small businesses and individuals. 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 March 28, 2005













                                   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: March 28, 2005                     TECHNOLOGY INVESTMENT CAPITAL CORP.


                                         By: /s/ Saul B. Rosenthal
                                             ------------------------
                                             Saul B. Rosenthal
                                             President

EX-99.1

                                                                    Exhibit 99.1


    TICC ANNOUNCES $8 MILLION TRANSACTION WITH CRYSTALTECH WEB HOSTING, INC.

Greenwich, CT - 03/28/2005 - Technology Investment Capital Corp. (Nasdaq: TICC)
announced today that it has completed an $8 million investment in senior secured
notes issued by CrystalTech Web Hosting, Inc., an Internet services company
providing web hosting services as well as domain registration and other services
to small businesses and individuals.


ABOUT CRYSTALTECH WEB HOSTING, INC.

Founded in 1992, CrystalTech is an Internet services company providing web
hosting services as well as domain registration and other services to small
businesses and individuals. CrystalTech is a wholly-owned subsidiary of Newtek
Business Services, Inc. (Nasdaq: NKBS), a publicly-traded provider of financial
and business services to small and medium-sized businesses. More information on
CrystalTech can be found at www.crystaltech.com.


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 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.