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Jun 30, 2023
TriplePoint Q2 2023 Earnings Report
Announced strong Q2 2023 results with net investment income exceeding quarterly distribution, driven by a focus on portfolio management and strategic capital deployment amidst venture capital market challenges.
Key Takeaways
TriplePoint Venture Growth BDC Corp. reported a net investment income of $0.53 per share for the second quarter of 2023. The company signed $114.0 million of term sheets and funded $30.6 million in debt investments. The Board of Directors declared a third quarter distribution of $0.40 per share.
Signed $114.0 million of term sheets and closed $18.0 million of new debt commitments.
Net investment income was $18.8 million, or $0.53 per share.
The weighted average annualized portfolio yield on total debt investments was 14.7%.
Declared a third quarter distribution of $0.40 per share.
Forward Guidance
Company expects to continue to deliver strong investment income while positioning the Company to further benefit when market conditions improve.
Positive Outlook
- Focusing on managing the portfolio.
- Maintaining strong liquidity.
- Deploying capital in a thoughtful manner.
- Long-term track record and expertise will serve us well.
- Scale and strong portfolio yield.
Challenges Ahead
- Ongoing challenges in the venture capital market.
- Unfunded commitments totaled $205.3 million.
- $53.9 million was dependent upon portfolio companies reaching certain milestones.
- $120.1 million will expire during 2023.
- Portfolio company VanMoof Global Holding B.V. was declared bankrupt.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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