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TriplePoint Venture Growth BDC (TPVG) investor relations material
TriplePoint Venture Growth BDC Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved highest level of signed term sheets, commitments, and fundings since 2022, with $421.1M in term sheets and $181.8M in new debt commitments, up 14% sequentially.
Net investment income for Q3 2025 was $10.3M ($0.26/share); net increase in net assets from operations was $15.2M ($0.38/share).
Portfolio at fair value grew to $798.5M as of September 30, 2025, up from $676.2M at December 31, 2024, with 310 investments in 126 companies.
Distributions of $0.23 per share were declared and paid for Q3 2025, with a supplemental $0.02 per share distribution declared for Q4 2025.
Sponsor purchased 591,235 shares under a discretionary share purchase program.
Financial highlights
Total investment and other income for Q3 2025 was $22.7M, down from $26.5M in Q3 2024, due to lower yields and less prepayment income.
Net investment income for Q3 2025 was $10.3M ($0.26/share), down from $13.8M ($0.35/share) in Q3 2024.
Net increase in net assets from operations for Q3 2025 was $15.2M ($0.38/share), compared to $22.6M ($0.57/share) in Q3 2024.
Net asset value as of September 30, 2025 was $355.1M ($8.79/share), up from $348.7M ($8.65/share) at June 30, 2025.
Weighted average annualized portfolio yield on debt investments was 13.2% for Q3 2025.
Outlook and guidance
Adviser extended full waiver of quarterly income incentive fee through end of fiscal year 2026.
Board declared a $0.23 per share regular and $0.02 per share supplemental distribution for Q4 2025.
Focus remains on scaling, portfolio diversification, and increasing NAV and income-generating assets.
Recent portfolio activity includes $17.3M in new debt commitments and $17.5M in new investments post-quarter, with $47.5M in principal prepayments.
2026 debt refinancing strategy
Credit underwriting changes and rationale
What limits increased funding activity
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Next TriplePoint Venture Growth BDC earnings date
Q4 20255 Mar, 2026
Next TriplePoint Venture Growth BDC earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage. As a "virtual" BDC, they act as their portfolio companies' primary source of capital and strategic business development services. The company aims to offer their investors the superior risk-adjusted returns generated by the growth strategies embraced by their portfolio companies and the extensive network of industry relationships that they have built over two decades in the VC industry.
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