TriplePoint Venture Growth(TPVG) - 2025 Q1 - Quarterly Results

Financial Performance - Net increase in net assets resulting from operations was $12.7 million, or $0.32 per share for Q1 2025, compared to $8.0 million, or $0.21 per share in Q1 2024[14] - Net investment income for Q1 2025 was $10.7 million, down from $15.5 million in Q1 2024[28] - Regular distributions declared per share decreased from $0.40 in Q1 2024 to $0.30 in Q1 2025[28] Investment Activity - The company signed $315.4 million of term sheets with venture growth stage companies and closed $76.5 million of new debt commitments in Q1 2025[4][7] - The company entered into $92.7 million of additional non-binding signed term sheets with venture growth stage companies[24] - The company closed $82.0 million of additional debt commitments[24] - The company funded $50.2 million in new investments[24] - Funded debt investments totaled $27.7 million to five portfolio companies with a 13.3% weighted average annualized yield at origination[4] Asset and Liquidity Position - The net asset value as of March 31, 2025, was $347.0 million, or $8.62 per share, compared to $345.7 million, or $8.61 per share at the end of 2024[18] - Total liquidity was $336.7 million, consisting of cash and cash equivalents of $41.7 million and available capacity under the Revolving Credit Facility of $295.0 million[19] - Total assets decreased from $763.0 million as of December 31, 2024, to $734.8 million as of March 31, 2025[26] Operating Expenses - Operating expenses for Q1 2025 were $11.7 million, down from $13.8 million in Q1 2024[10] - Total operating expenses decreased from $13.8 million in Q1 2024 to $11.7 million in Q1 2025[28] Portfolio Performance - Total investment and other income for Q1 2025 was $22.5 million, with a weighted average annualized portfolio yield of 14.4% on debt investments, down from $29.3 million and 15.4% in Q1 2024[9] - The weighted average investment ranking of the debt investment portfolio was 2.12 as of March 31, 2025, compared to 2.17 at the end of the prior quarter[16] - The weighted average portfolio yield on debt investments was 14.4% for Q1 2025, down from 15.4% in Q1 2024[30] Taxable Earnings - Estimated undistributed taxable earnings from net investment income were $42.5 million, or $1.06 per share, as of March 31, 2025[20]