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):

                                 April 13, 2005

                       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 April 13, 2005, Technology Investment Capital Corp. issued a press release
announcing that it has completed a $6 million investment in senior unsecured
notes and a $2 million investment in common stock issued by Falcon
Communications, Inc., a Delaware corporation, which is a provider of innovative
and cutting-edge remote communications technologies. TICC's investment supports
the recapitalization of Falcon Communications by CM Equity Partners. 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 April 13, 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: April 14, 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 FALCON COMMUNICATIONS, INC.

Greenwich, CT - 04/13/2005 - Technology Investment Capital Corp. (Nasdaq: TICC)
announced today that it has completed a $6 million investment in senior
unsecured notes and a $2 million investment in common stock issued by Falcon
Communications, Inc., a Delaware corporation. The Company is a provider of
innovative and cutting-edge remote communications technologies. TICC's
investment supports the recapitalization of Falcon Communications by CM Equity
Partners.

ABOUT FALCON COMMUNICATIONS, INC.

Falcon Communications is a global provider of mobile and fixed satellite
communications services to commercial, U.S. and international government
clients, as well as emergency response, crisis management and humanitarian
organizations. Falcon's products and services are focused on providing best
value, reliable communications solutions. Falcon's global reach provides instant
worldwide, secure, on demand communications to the end user.

ABOUT CM EQUITY PARTNERS

CM Equity Partners is a private equity investment firm which makes investments
in middle-market companies operating primarily in the United States and Canada.
CM Equity Partners is affiliated with Carl Marks & Co, Inc., one of the oldest
merchant banking firms in the United States. Please visit www.cmequity.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 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.