TPVG · TriplePoint Venture Growth BDC Corp.

TriplePoint Venture Growth BDC Corp. announced first quarter 2026 financial results via press release on May 6, 2026, highlighting net investment income of $9.1 million or $0.23 per share, down from $10.7 million or $0.27 per share in the prior year quarter due to higher interest expense and amortization of fees, partially offset by increased income from a larger debt portfolio and prepayments. Total investment and other income rose to $22.8 million from $22.5 million, driven by higher principal outstanding despite lower yields from Prime rate decreases, maintaining a 13.5% weighted average annualized yield on debt investments. Operating expenses increased to $13.2 million, including a $1.8 million incentive fee waiver by the Adviser through fiscal year-end 2026. The debt portfolio expanded to $716.8 million at cost after funding $26.5 million in new investments at 12.9% yield, offset by $23.6 million prepayments and $1.9 million amortization; held debt in 55 companies with 2.25 average ranking. Net assets stood at $351.0 million or $8.65 per share, down slightly from $353.6 million or $8.73 per share at year-end, with leverage at 1.27x and liquidity of $112.0 million. Portfolio fair value ended at $785.6 million. The Board declared a $0.23 per share Q2 distribution and authorized a $12.5 million open market repurchase program through May 2027, while sponsor TriplePoint Capital purchased 188,662 shares, holding 4.9% of outstanding shares. Management emphasized long-term durability, income growth, NAV accretion, and diversification into AI markets, with TPC signing $256.1 million in term sheets.