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Dec 31, 2021
TriplePoint Q4 2021 Earnings Report
Announced fourth quarter and fiscal year 2021 financial results with a record portfolio fair value of $865 million and net investment income of $0.42 per share for the fourth quarter.
Key Takeaways
TriplePoint Venture Growth BDC Corp. reported strong Q4 2021 results, marked by a record portfolio fair value of $865 million. The company achieved net investment income of $0.42 per share and declared a first quarter 2022 distribution of $0.36 per share.
Signed a record $724.9 million of term sheets with venture growth stage companies and closed a record $232.3 million of new debt commitments.
Funded $161.1 million in debt investments to 19 portfolio companies with a 14.4% weighted average annualized portfolio yield at origination.
Earned net investment income of $12.9 million, or $0.42 per share, up from $9.9 million, or $0.32 per share, for the prior quarter.
Increased net asset value to $434.5 million, or $14.01 per share, as of December 31, 2021.
Forward Guidance
TriplePoint Venture Growth BDC Corp. is well positioned to continue to invest in leading venture growth stage companies.
Positive Outlook
- TPVG raised $125 million in aggregate principal amount from the private issuance of 5.0% institutional notes due 2027
- TPC’s direct originations platform entered into $432.3 million of additional non-binding signed term sheets with venture growth stage companies
- The Company received $89.0 million of principal prepayments generating more than $3.0 million of accelerated income
- TPVG portfolio companies Inspirato LLC and Sonder Holdings Inc. completed SPAC mergers
- Declared a regular quarterly distribution of $0.36 per share for the first quarter of 2022
Historical Earnings Impact
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