TriplePoint Venture Growth BDC Corp. reported its financial results for the first quarter of 2025, revealing a net increase in net assets resulting from operations of $12.7 million, compared to $8.0 million in the same period last year. The company generated net investment income of $10.7 million, translating to $0.27 per share, down from $15.5 million or $0.41 per share in the prior year. Total investment and other income decreased to $22.5 million from $29.3 million, primarily due to a lower average principal amount outstanding on income-bearing debt investments and reduced investment yields.
The company's total assets as of March 31, 2025, stood at $734.8 million, a decline from $763.0 million at the end of 2024. Investments at fair value increased slightly to $682.0 million from $676.2 million, with the fair value of debt investments rising to $565.4 million. The company’s liabilities decreased to $387.9 million from $417.4 million, largely due to the repayment of the 2025 Notes, which amounted to $70.0 million. The net asset value per share increased marginally to $8.62 from $8.61.
In terms of operational developments, TriplePoint Venture Growth BDC reported a total of 303 investments across 114 companies, with 126 debt investments, 116 warrant investments, and 61 direct equity investments. The company entered into new debt commitments totaling $76.5 million during the quarter, with funded debt investments amounting to $27.7 million. The weighted average annualized portfolio yield on debt investments at origination was 13.3%. The company also noted that it had four portfolio companies on non-accrual status, with a total cost and fair value of $38.1 million and $20.6 million, respectively.
Looking ahead, the company declared a regular quarterly distribution of $0.30 per share, payable on June 30, 2025. Management remains optimistic about future investment opportunities, having closed $82.0 million in additional debt commitments and funded $50.2 million in new investments from April 1, 2025, to May 6, 2025. The company continues to explore options for raising additional capital, including potential expansions of its credit facility and equity offerings, to support its growth strategy in the venture growth stage investment sector.
About TriplePoint Venture Growth BDC Corp.
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