Good morning, ladies and gentlemen, and welcome to the Flow Capital's earnings call for Q2 2024. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up for questions. If anyone has difficulties hearing the conference, you may press star zero for operator assistance at any time. I would like to remind everyone that today's discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. For more information on Flow Capital's risks and uncertainties related to these forward-looking statements, please refer to the Q2 2024 company's management discussion and analysis, which is available on SEDAR.
Today's call is being recorded on Tuesday, August 20th, 2024. I would now like to turn the meeting over to Alex Baluta, Chief Executive Officer of Flow Capital.
Thank you, Joelle. Good morning and thank you all for participating in today's call. I'm joined by Michael Denny, our Chief Financial Officer, and Vernon Lobo, our Executive Chairman. After the close of market today, we released our financial results for the quarter, Q2, ended June 30th , 2024. Details can be found on our website or, as filed on SEDAR. I will, as usual, try to keep my comments brief. During Q2, we reported another record quarter in terms of recurring revenue, going as far back as at least twenty eighteen. We've transitioned our strategy away from royalties and into growth debt, and we continue to see strong progress. This is the fourth sequential quarter in a row of growth. I will not be going through our full financial statements on this call, but rather I'll focus on a few of the relevant highlights.
If you'd like more detail, I encourage you to read our full financial statements. As a quick aside, as I've repeated on almost every call, it's worth noting that our definition of recurring revenue is a non-IFRS metric. For us, recurring revenue means cash revenue generated from our investments. Our total reported revenue under IFRS this quarter was actually CAD 2.1 million in the quarter and CAD 4.11 million for the year. However, IFRS can be slightly distorting and hard to follow, as under IFRS, changes in the balance sheet need to flow through the income statement, which can lead to things like negative revenue in a quarter, making it hard to track our real performance. That's why we talk about recurring revenue and recurring free cash flow, which we believe are better metrics to track. Turning to our results.
For the quarter, we reported CAD 1.9 million in recurring loan interest income. That's up 5.7% from Q1 and up 28.5% from Q2 last year. Book value is at 1.255 per share. That's up 2.4% for the over the prior quarter and up 37% over the last two years. We generated just under CAD 300,000 in recurring free cash flow in the quarter and CAD 1.4 million in free cash flow over the last four quarters. I will note that we've now been profitable for over seventeen, for not over, for 17 quarters in a row.
Our assets, our total assets was CAD 65.8 million, up 12% over the prior year, and we deployed CAD 29 million in new capital over the last twelve months, which is a twelve-month record for us. In fact, we achieved several milestones in the quarter, including record recurring revenue, CAD 1.9 million, record book value per share of 1.255, record total assets at CAD 65.8 million, and as I just mentioned, a trailing twelve-month deployment record of CAD 29 million. So needless to say, we've had an excellent quarter. Some additional highlights in the quarter included repayment of our Pyer investment of CAD 4.5 million. That investment had generated a 20%, slightly higher than 20% IRR to date, and we continue to own warrants in that company.
We also closed a CAD 5.4 million investment into an excellent SaaS B2B company called Tattle, which is focused on global customer experience improvement. We announced a follow-on investment into MiniLuxe, which is an existing portfolio company. And then after the end of the quarter, we closed a CAD 6.8 million investment in a tech-enabled marketplace for co-living spaces and a CAD 5.4 million investment in a media measurement company, a media measurement provider. It's worth noting that for the year, we had targeted to get ourselves to a CAD 10 million revenue run rate in recurring revenue, and currently, including the recent investments, we are over CAD 9 million, approaching our target for the year.
And given the strength of our pipeline, we feel comfortable that we should, we will be able to hit our target before the end of the year. It's worth noting as well that we have published our IRR performance for the portfolio at a portfolio level for several years now. Our trailing six-year IRR, which we press released on June eleventh of this year, is over 26%. So we continue to see good performance in our portfolio, and we continue to see good growth in our deal opportunities in terms of our pipeline. Looking forward, our internal target, the space that we participate in is a very large space. It's the venture debt space.
It has over $30 billion in originations, give or take, in any given year, in North America. With CAD 60 million in assets, we're a very small player in this space. However, over the last five years, we've been building the infrastructure to grow our business. We have a fantastic team. We've developed some excellent internal processes, and we're targeting to get our assets up to CAD 100 million, then CAD 250 million, and then CAD 500 million over the next several years, and while I'm not making any forecasts, we feel strongly that that is an achievable target, so all in all, another excellent quarter. Our portfolio continues to perform well. Our team is really gelling, and we feel that we have an excellent future ahead of us.
With that, I'll pause my formal statements, and I'll hand it back to the operator to see if there's any questions.
Thank you, ladies and gentlemen. We will now begin the question-and-answer session. Should you have a question, please press star followed by the one on your touchtone phone. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment, please, for your first question. There are no questions at this time. I'd like to hand the call over to Alex for closing remarks.
Thank you, Joelle. Thank you, everybody for joining and continuing to track our progress. As I said, we feel confident that we're in the right space and that we have the right processes and team in place, and I look forward to chatting with you in three months with our Q3 results. Thank you very much.
Thank you. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.