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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.
TriplePoint
TriplePoint
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