TriplePoint Venture Growth BDC Corp. TPVG
We are an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company, or "BDC," under the Investment Company Act of 1940, as amended, or the "1940 Act." We have also elected to be treated, and intend to qualify annually, as a regulated investment company, or "RIC," under Subchapter M of the Internal Revenue Code of 1986, as amended, or the "Code," for U.S. federal income tax purposes.
We were formed as a Maryland corporation on June 28, 2013 to expand the venture growth stage business segment of TPC's investment platform. Our investment objective is to maximize our total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by lending, typically with warrants, primarily to venture growth stage companies focused in technology and other high growth industries backed by TPC's select group of leading venture capital investors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| SG&A | $6.1M | $6.3M | $6.7M | $4.4M | $4.1M | $4.6M | — | — | — |
| Total operating expenses | — | — | — | $55.9M | $46.3M | $43.3M | — | — | — |
| Interest expense | — | — | $36.8M | $26.8M | $17.4M | — | — | — | — |
| Net income | $49.2M | $32.0M | -$39.8M | -$20.1M | $76.6M | — | — | — | — |
| EPS, basic | 1.05 | 1.40 | 2.07 | 1.94 | 1.33 | 1.57 | — | — | — |
| EPS, diluted | 1.05 | 1.40 | 2.07 | 1.94 | 1.33 | 1.57 | — | — | — |
| Shares, diluted (wtd. avg.) | $40.3M | $39.1M | $35.7M | $32.7M | $30.9M | $30.6M | $24.8M | $20.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.4M | $45.9M | $153.3M | $59.3M | $59.1M | $44.7M | $26.4M | — | — |
| Total assets | $839.6M | $763.0M | $978.8M | $1.01B | $927.7M | — | — | — | — |
| Long-term debt | $464.4M | $394.9M | $605.2M | $562.9M | $465.3M | — | — | — | — |
| Total liabilities | $486.0M | $417.4M | $632.5M | $594.6M | $493.2M | — | — | — | — |
| Retained earnings | -$161.2M | -$168.4M | -$147.0M | -$51.0M | — | — | — | — | — |
| Total equity | $353.6M | $345.7M | $346.3M | $419.9M | $434.5M | $400.4M | $332.5M | $334.5M | $234.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$57.0M | $152.9M | $106.1M | -$100.9M | -$144.7M | $63.7M | — | — | — |
| Financing cash flow | $25.7M | -$245.8M | $6.2M | $101.0M | $159.1M | -$45.4M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001580345-26-000008.