TriplePoint Venture Growth BDC Corp. Announces Third Quarter 2026 Financial Results

Nine-month net investment income fell to $0.59 per share from $0.80, while estimated undistributed taxable earnings were $0.90 per share.

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Declared Fourth Quarter 2026 Regular Distribution of $0.23 per Share

Seven Portfolio Companies Raised an Aggregate $2.6 Billion of Capital

MENLO PARK, Calif.--(BUSINESS WIRE)-- TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced its financial results for the third quarter ended September 30, 2026. The Company previously announced on October 14, 2026 that its Board of Directors declared its fourth quarter 2026 regular distribution of $0.23 per share.

Third Quarter 2026 Highlights

• Signed $106.0 million of term sheets with venture growth stage companies at TriplePoint Capital LLC (“TPC”) and TPVG closed $43.0 million of new debt commitments;
• Funded $0.7 million in debt investments to four portfolio companies, with an 11.2% weighted average annualized yield at origination. Subsequent to the end of the quarter, TPVG funded $57.4 million in new investments;
• Ended the quarter with a debt investment portfolio at $665.3 million at cost;
• Achieved a 12.4% weighted average annualized portfolio yield on debt investments for the quarter¹;
• Earned net investment income of $6.6 million, or $0.16 per share;
• Net decrease in net assets resulting from operations of $1.7 million, or $0.04 per share;
• Seven portfolio companies raised an aggregate $2.6 billion of capital in private financings during the quarter, five of which are active debt portfolio companies that raised an aggregate $1.5 billion;
• Held debt investments in 50 portfolio companies, warrants in 120 portfolio companies and equity investments in 57 portfolio companies as of September 30, 2026;
• Debt investment portfolio weighted average investment ranking of 2.24 as of quarter’s end;
• Net asset value of $339.9 million, or $8.32 per share, as of September 30, 2026;
• Ended the quarter with a gross leverage ratio of 1.18x and a net leverage ratio of 1.12x;
• Our sponsor, TPC, purchased 313,865 shares of the Company’s common stock in a private transaction, bringing total shares held by TPC to 2,312,354, which represents 5.7% of the Company’s outstanding shares of common stock as of September 30, 2026;
• Sold its investments in Prodigy Investments Limited to a third party for total cash consideration of $43.8 million, which reflected its fair value as of June 30, 2026 plus accrued cash interest;
• Subsequent to quarter-end, our investment adviser, TriplePoint Advisers LLC (the “Adviser”) amended its existing income incentive fee waiver to waive, in full, its quarterly income incentive fee through the end of fiscal year 2027; and
• Subsequent to quarter-end, declared a fourth quarter regular distribution of $0.23 per share, payable on December 30, 2026, bringing total declared distributions to $18.17 per share since the Company’s initial public offering.

Year to Date 2026 Highlights

• Signed $668.9 million of term sheets with venture growth stage companies at TPC and TPVG closed $73.8 million of new debt commitments;
• Funded $75.1 million in debt investments to 15 portfolio companies with a 12.8% weighted average annualized portfolio yield at origination, and funded $0.3 million in direct equity investments in private rounds of financing to five portfolio companies;
• Earned net investment income of $24.0 million, or $0.59 per share;
• Net increase in net assets resulting from operations of $15.1 million, or $0.37 per share;
• Paid distributions of $0.75 per share;
• 12 debt portfolio companies raised an aggregate $2.8 billion of capital in private financings;
• Achieved a 12.9% weighted average annualized portfolio yield on debt investments;
• In April 2026, DBRS, Inc. confirmed TPVG’s investment grade rating, with a BBB (low) Long-Term Issuer rating, with a stable trend
  outlook;
• The Company’s Board of Directors authorized a 12-month stock repurchase program for the purpose of repurchasing up to an aggregate of $12.5 million of its common stock in the open market; and
• Estimated undistributed taxable earnings from net investment income (or “spillover income”) of $36.9 million, or $0.90 per share, as of September 30, 2026.

____________________

1 Please see the last table in this press release, titled "Weighted Average Portfolio Yield on Debt Investments," for more information on the calculation of the weighted average annualized portfolio yield on debt investments.

“We continue to advance our sector rotation and diversification strategy, as we invest in companies across AI and other attractive sectors and take advantage of strong demand for debt financing from high-quality, venture-growth stage companies,” said Jim Labe, chairman and chief executive officer of TPVG. “We remain focused on disciplined underwriting, further strengthening our portfolio and financial position, and capitalizing on market opportunities that enhance our earnings power and grow NAV over the long term.”

“We are pleased with the success of a number of TPVG portfolio companies raising capital,” said Sajal Srivastava, president and chief investment officer of the Company. “During the third quarter, seven of our portfolio companies raised $2.6 billion, of which five are active debt portfolio companies that raised an aggregate $1.5 billion.”

PORTFOLIO AND INVESTMENT ACTIVITY

During the three months ended September 30, 2026, the Company entered into $43.0 million of new debt commitments with four new and four existing portfolio companies, funded debt investments totaling $0.7 million to four portfolio companies and acquired warrant investments representing $0.6 million at fair value. Debt investments funded during the quarter carried a weighted average annualized portfolio yield of 11.2% at origination. During the quarter, the Company received $11.0 million of principal prepayments, $1.0 million of early repayments and $5.4 million of scheduled principal amortization. The weighted average annualized portfolio yield on debt investments for the third quarter was 12.4%¹. The return on average equity for the third quarter was 7.4% based on net investment income. The Company calculates return on average equity as the annualized rate of net investment income recognized during the period divided by the Company’s average net asset value during the period.

As of September 30, 2026, the Company held debt investments in 50 portfolio companies, warrants in 120 portfolio companies and equity investments in 57 portfolio companies. The total cost and fair value of these investments were $749.3 million and $717.3 million, respectively.

The following table shows the total portfolio investment activity for the three and nine months ended September 30, 2026 and 2025:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands)			2026				2025				2026				2025
Beginning portfolio at fair value		$	780,742			$	717,885			$	783,544			$	676,249
New debt investments, net(a)			705				86,906				73,345				192,420
Scheduled principal amortization			(5,394	)			(4,000	)			(19,509	)			(25,192	)
Principal prepayments and early repayments			(12,038	)			(15,489	)			(70,425	)			(78,249	)
Net amortization and accretion of premiums and discounts and end-of-term payments			2,037				1,648				5,879				7,376
Payment-in-kind coupon			2,462				4,796				8,996				13,803
New warrant investments			639				837				1,485				2,597
New equity investments			—				1,001				303				2,984
Proceeds from dispositions of investments			(43,500	)			(55	)			(57,345	)			(2,364	)
Net realized gains (losses) on investments			(26,433	)			(694	)			(13,778	)			1,583
Net change in unrealized gains (losses) on investments			18,121				5,627				4,846				7,255
Ending portfolio at fair value		$	717,341			$	798,462			$	717,341			$	798,462
_____________
(a) Debt balance is net of fees and discounts applied to the loan at origination.

SIGNED TERM SHEETS

During the three months ended September 30, 2026, TPC entered into $106.0 million of non-binding term sheets to venture growth stage companies. These opportunities are subject to underwriting conditions including, but not limited to, the completion of due diligence, negotiation of definitive documentation and investment committee approval, as well as compliance with the allocation policy. Accordingly, there is no assurance that any or all of these transactions will be completed or assigned to the Company.

____________________

1 Please see the last table in this press release, titled "Weighted Average Portfolio Yield on Debt Investments," for more information on the calculation of the weighted average annualized portfolio yield on debt investments.

UNFUNDED COMMITMENTS

As of September 30, 2026, the Company’s unfunded commitments totaled $171.6 million, of which $14.8 million was dependent upon portfolio companies reaching certain milestones. Of the $171.6 million of unfunded commitments, $54.0 million will expire during 2026, $109.7 million will expire during 2027 and $7.9 million will expire during 2028, if not drawn prior to expiration. Since these commitments may expire without being drawn, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.

RESULTS OF OPERATIONS

Total investment and other income was $20.2 million for the third quarter of 2026, representing a weighted average annualized portfolio yield of 12.4% on debt investments, as compared to $22.7 million and 13.2% for the third quarter of 2025. The decrease in total investment and other income was primarily due to lower investment yields in part due to a lower Prime rate. For the nine months ended September 30, 2026, the Company’s total investment and other income was $65.1 million, as compared to $68.4 million for the nine months ended September 30, 2025, representing a weighted average annualized portfolio yield on total debt investments of 12.9% and 14.0%, respectively.

For the third quarter of 2026, total operating expenses were $13.2 million as compared to $12.0 million, inclusive of an income incentive fee waiver of $2.1 million for the third quarter of 2025. Total operating expenses for the third quarter of 2026 consisted of $7.9 million of interest expense and amortization of fees, $3.6 million of base management fees, $0.7 million of Administration Agreement expenses and $1.1 million of general and administrative expenses. There were no income incentive fees for the three months ended September 30, 2026. Total operating expenses for the third quarter of 2025 consisted of $6.8 million of interest expense and amortization of fees, $3.4 million of base management fees, $0.6 million of Administration Agreement expenses and $1.2 million of general and administrative expenses. For the three months ended September 30, 2025, the Adviser earned and waived $2.1 million in income incentive fees. For each of the third quarters of 2026 and 2025, the Company recorded excise tax expenses of $0.4 million. The Adviser waived $3.2 million in income incentive fees earned for the nine months ended September 30, 2026, pursuant to a waiver agreement whereby the Adviser had agreed to waive, in full, any and all of the income incentive fee until and including the quarter ending December 31, 2026. The Company’s total operating expenses for the nine months ended September 30, 2026, inclusive of the $3.2 million income incentive fee waiver, were $40.1 million as compared to $34.9 million, inclusive of income incentive fee waivers of $3.3 million for the nine months ended September 30, 2025. For the nine months ended September 30, 2026 and 2025, the Company recorded $1.0 million and $1.1 million, respectively, for an excise tax accrual.

For the third quarter of 2026, the Company recorded net investment income of $6.6 million, or $0.16 per share, as compared to $10.3 million, or $0.26 per share, for the third quarter of 2025. The decrease in net investment income between periods was driven primarily by lower total investment and other income and higher interest expense. Net investment income for the nine months ended September 30, 2026 was $24.0 million, or $0.59 per share, compared to $32.3 million, or $0.80 per share, for the nine months ended September 30, 2025.

During the third quarter of 2026, the Company recognized net realized losses on investments of $26.4 million, resulting primarily from the sale of the Company’s debt, warrant and equity investments in one portfolio company and the write-off of a debt investment in one portfolio company, partially offset by net realized gains from the realization of a warrant investment in one portfolio company and equity investments in two portfolio companies. During the third quarter of 2025, the Company recognized net realized losses on investments of $0.7 million from the dissolution of one portfolio company.

Net change in unrealized gains on investments for the third quarter of 2026 was $18.1 million, consisting of $26.1 million of net unrealized gains from the reversal of previously recorded unrealized losses on investments realized during the period and $5.4 million of net unrealized gains on the existing warrant and equity portfolio resulting from fair value adjustments, partially offset by $13.0 million of net unrealized losses on the existing debt investment portfolio resulting from fair value adjustments and $0.4 million of net unrealized losses from foreign currency adjustments. Net change in unrealized gains on investments for the third quarter of 2025 was $5.6 million. The Company’s net realized and unrealized losses were $8.9 million for the nine months ended September 30, 2026, compared to net realized and unrealized gains of $8.8 million for the nine months ended September 30, 2025.

The Company’s net decrease in net assets resulting from operations for the third quarter of 2026 was $1.7 million, or $0.04 per share, as compared to a net increase in net assets resulting from operations of $15.2 million, or $0.38 per share, for the third quarter of 2025. For the nine months ended September 30, 2026, the Company’s net increase in net assets resulting from operations was $15.1 million, or $0.37 per share, as compared to a net increase in net assets resulting from operations of $41.1 million, or $1.02 per share, for the nine months ended September 30, 2025.

CREDIT QUALITY

The Adviser maintains a credit watch list with portfolio companies placed into one of five credit risk categories, with Clear, or 1, being the best rating and Red, or 5, being the lowest. Generally, all new loans receive an initial grade of White, or 2, unless the portfolio company’s credit quality meets the characteristics of another credit category.

As of September 30, 2026, the weighted average investment ranking of the Company’s debt investment portfolio was 2.24, as compared to 2.28 at the end of the prior quarter. During the quarter ended September 30, 2026, portfolio company credit category changes, excluding fundings and repayments, consisted of the following: one portfolio company with a principal balance of $28.0 million was upgraded from Yellow (3) to White (2), and two portfolio companies with an aggregate principal balance of $33.8 million were downgraded from White (2) to Yellow (3).

The following table shows the credit categories for the Company’s debt investments at fair value as of September 30, 2026 and December 31, 2025:

		September 30, 2026								December 31, 2025
Credit Category (dollars in thousands)		Fair Value			Percentage of Total Debt Investments			Number of Portfolio Companies		Fair Value			Percentage of Total Debt Investments			Number of Portfolio Companies
Clear (1)		$	45,310		7.9	%		3		$	45,042		7.0	%		3
White (2)			371,593		64.7			35			484,866		75.1			43
Yellow (3)			136,497		23.8			7			86,255		13.4			4
Orange (4)			17,320		3.0			4			25,212		3.9			4
Red (5)			3,168		0.6			1			3,991		0.6			1
		$	573,888		100.0	%		50		$	645,366		100.0	%		55

NET ASSET VALUE

As of September 30, 2026, the Company’s net assets were $339.9 million, or $8.32 per share, as compared to $353.6 million, or $8.73 per share, as of December 31, 2025.

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, 2026, the Company had total liquidity of $168.0 million, consisting of cash, cash equivalents and restricted cash of $18.0 million and available capacity under its Revolving Credit Facility of $150.0 million (subject to borrowing base restrictions). As of September 30, 2026, the Company held $0.4 million of stock and warrant positions in publicly traded companies. The Company ended the quarter with a 1.18x leverage ratio, a 1.12x net leverage ratio and a 1940 Act asset coverage ratio of 185%.

SHARE REPURCHASE PROGRAM

On May 5, 2026, the Company’s Board of Directors authorized a 12-month stock repurchase program for the purpose of repurchasing up to an aggregate of $12.5 million of its common stock in the open market at certain thresholds below its then-current net asset value per share in accordance with the guidelines specified in Rule 10b-18 under the Securities Exchange Act of 1934. The timing, manner, price and amount of any share repurchases will be determined by the Company based upon an evaluation of economic and market conditions, stock price, applicable legal, contractual and regulatory requirements and other factors. The authorized stock repurchase program is scheduled to expire on May 6, 2027. As of September 30, 2026, the Company had not repurchased any shares of common stock pursuant to the Board’s stock repurchase authorization.

DISTRIBUTIONS

On October 14, 2026, the Company’s Board of Directors declared a regular quarterly distribution of $0.23 per share for the fourth quarter, payable on December 30, 2026 to stockholders of record as of December 16, 2026. As previously announced, on August 4, 2026, the Company’s Board of Directors declared supplemental distributions totaling $0.12 per share to be paid in two equal installments. The first $0.06 per share supplemental distribution was paid on September 30, 2026 to stockholders of record as of September 16, 2026, and the second $0.06 per share supplemental distribution will be paid on December 30, 2026 to stockholders of record as of December 16, 2026. As of September 30, 2026, the Company had estimated spillover income of $36.9 million, or $0.90 per share.

RECENT DEVELOPMENTS

Since September 30, 2026 and through November 3, 2026:

• TPC’s direct originations platform entered into $125.0 million of additional non-binding signed term sheets with venture growth stage companies;
• The Company closed $60.0 million of additional debt commitments;
• The Company funded $57.4 million in new investments; and
• The Company received $72.6 million of principal prepayments generating more than $2.0 million of accelerated income.

CONFERENCE CALL

The Company will host a conference call at 5:00 p.m. Eastern Time, today, November 4, 2026, to discuss its financial results for the quarter ended September 30, 2026. To listen to the call, investors and analysts should dial (844) 826-3038 (domestic) or +1 (412) 317-5184 (international) and ask to join the TriplePoint Venture Growth BDC Corp. call. Please dial in at least five minutes before the scheduled start time. A replay of the call will be available through December 4, 2026, by dialing (855) 669-9658 (domestic) or +1 (412) 317-0088 (international) and entering conference ID 8855278. The conference call also will be available via a live audio webcast in the investor relations section of the Company’s website, https://www.tpvg.com. An online archive of the webcast will be available on the Company’s website for one year after the call.

ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.

TriplePoint Venture Growth BDC Corp. is an externally-managed business development company focused on providing customized debt financing with warrants and direct equity investments primarily to venture growth stage companies in technology and other high growth industries backed by a select group of venture capital firms. The Company’s sponsor, TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries at every stage of their development with unparalleled levels of creativity, flexibility and service. For more information about TriplePoint Venture Growth BDC Corp., visit https://www.tpvg.com. For more information about TriplePoint Capital, visit https://www.triplepointcapital.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking statements. Forward-looking statements are not guarantees of future performance, investment activity, financial condition or results of operations and involve a number of substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. Actual events, investment activity, performance, condition or results may differ materially from those in the forward-looking statements as a result of a number of factors, including as a result of changes in economic, market or other conditions, and the impact of such changes on the Company’s and its portfolio companies’ results of operations and financial condition, and those factors described from time to time in the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect actual events and the Company’s performance and financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or discussed on the webcast/conference call, is or will be included in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof. In addition, the Company’s authorized share repurchase program does not require the Company to repurchase any specific number of shares, and there is no assurance that the Company or any of its affiliates will purchase additional shares of the Company’s common stock at any specific discount levels or in any specific amounts. There is no assurance that the market price of the Company’s shares, either absolutely or relative to NAV, will increase as a result of any share purchase program, or that any purchase plan will enhance stockholder value over the long term. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

NON-GAAP FINANCIAL MEASURES

To provide additional information about the Company’s results, the Company’s management has discussed in this press release the Company’s net leverage ratio (calculated as (i) total debt less (ii) cash, cash equivalents and restricted cash, with the result divided by total net assets), which is not prepared in accordance with GAAP. This non-GAAP measure is included to supplement the Company’s financial information presented in accordance with GAAP and because the Company uses such measure to monitor and evaluate its leverage and financial condition and believes this presentation enhances investors’ ability to analyze trends in the Company’s business and to evaluate the Company’s leverage and ability to take on additional debt. However, this non-GAAP measure has limitations and should not be considered in isolation or as a substitute for analysis of the Company’s financial results as reported under GAAP.

This non-GAAP measure is not in accordance with, or an alternative to, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles and should only be used to evaluate the Company’s results of operations in conjunction with its corresponding GAAP measure.

TriplePoint Venture Growth BDC Corp. Consolidated Statements of Assets and Liabilities (in thousands, except per share data)
	September 30, 2026				December 31, 2025
Assets	(unaudited)
Investments at fair value
Non-controlled/unaffiliated investments (amortized cost of 733,040 and 804,090, respectively)	$	701,650			$	767,304
Non-controlled/affiliated investments (amortized cost of 16,273 and 16,273, respectively)		15,691				16,240
Total Investments at fair value (amortized cost of $749,313 and $820,363, respectively)		717,341				783,544
Cash and cash equivalents		17,607				20,364
Restricted cash		393				27,003
Deferred credit facility costs		3,695				4,643
Prepaid expenses and other assets		10,613				4,095
Total assets	$	749,649			$	839,649
Liabilities
Revolving Credit Facility	$	150,000			$	95,000
2026 Notes, net of unamortized debt issuance costs of $— and $75, respectively		—				199,925
2027 Notes, net of unamortized debt issuance costs of $118 and $329, respectively		124,882				124,671
8.11% 2028 Notes, net of unamortized debt issuance costs of $333 and $516, respectively		49,667				49,484
7.50% 2028 Notes, net of unamortized debt issuance costs of $202 and $—, respectively		74,798				—
Base management fee payable		3,564				3,581
Other accrued expenses and liabilities		6,818				13,367
Total liabilities	$	409,729			$	486,028
Net assets
Preferred stock, par value $0.01 per share (50,000 shares authorized; no shares issued and outstanding, respectively)	$	—			$	—
Common stock, par value $0.01 per share		408				405
Paid-in capital in excess of par value		516,037				514,399
Total distributable earnings (loss)		(176,525	)			(161,183	)
Total net assets	$	339,920			$	353,621
Total liabilities and net assets	$	749,649			$	839,649
Shares of common stock outstanding (par value $0.01 per share and 450,000 authorized)		40,843				40,491
Net asset value per share	$	8.32			$	8.73

TriplePoint Venture Growth BDC Corp. Consolidated Statements of Operations (in thousands, except per share data)
	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
	(unaudited)				(unaudited)				(unaudited)				(unaudited)
Investment income
Interest income from investments	$	20,031			$	22,144			$	64,156			$	66,233
Other income		142				512				937				2,153
Total investment and other income	$	20,173			$	22,656			$	65,093			$	68,386
Operating expenses
Base management fee	$	3,564			$	3,359				10,771				9,952
Income incentive fee		—				2,062				3,161				3,321
Interest expense and amortization of fees		7,871				6,770				24,020				19,874
Administration Agreement expenses		740				649				2,182				1,880
General and administrative expenses		1,062				1,193				3,085				3,226
Total operating expenses before Income incentive fee waiver	$	13,237			$	14,033			$	43,219			$	38,253
Income incentive fee waiver		—				(2,062	)			(3,161	)			(3,321	)
Total operating expenses net of Income incentive fee waiver	$	13,237			$	11,971			$	40,058			$	34,932
Net investment income before excise taxes	$	6,936			$	10,685			$	25,035			$	33,454
Excise tax expense		(350	)			(375	)			(990	)			(1,131	)
Net investment income after excise taxes	$	6,586			$	10,310			$	24,045			$	32,323
Net realized and unrealized gains/(losses)
Net realized gains (losses) on investments	$	(26,421	)		$	(704	)		$	(13,778	)		$	1,517
Net change in unrealized gains (losses) on investments		18,121				5,627				4,846				7,255
Net realized and unrealized gains/(losses)	$	(8,300	)		$	4,923			$	(8,932	)		$	8,772
Net increase (decrease) in net assets resulting from operations	$	(1,714	)		$	15,233			$	15,113			$	41,095
Per share information (basic and diluted)
Net increase (decrease) in net assets per share	$	(0.04	)		$	0.38			$	0.37			$	1.02
Weighted average shares of common stock outstanding		40,711				40,325				40,602				40,233
Regular distributions declared per share	$	0.23			$	0.23			$	0.69			$	0.83
Supplemental distributions declared per share		0.12				—				0.12				—
Total distributions declared per share	$	0.35			$	0.23			$	0.81			$	0.83

Weighted Average Portfolio Yield on Debt Investments
Ratios (Percentages, on an annualized basis)(1)		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2026			2025			2026			2025
Weighted average portfolio yield on debt investments(2)		12.4	%		13.2	%		12.9	%		14.0	%
Coupon income		10.3	%		10.8	%		10.5	%		11.2	%
Accretion of discount		0.7	%		0.8	%		0.8	%		1.0	%
Accretion of end-of-term payments		1.0	%		1.2	%		1.0	%		1.3	%
Impact of prepayments during the period		0.4	%		0.4	%		0.6	%		0.5	%
_____________
(1) Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. Including non-income producing debt investments, the weighted average yield for the three months ended September 30, 2026 and 2025 was 11.8% and 12.3%, respectively. Including non-income producing debt investments, the weighted average yield for the nine months ended September 30, 2026 and 2025 was 12.3% and 13.3%, respectively. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.
(2) The weighted average portfolio yields on debt investments reflected above do not represent actual investment returns to the Company’s stockholders.

 

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INVESTOR RELATIONS AND MEDIA CONTACT
The IGB Group
Leon Berman
212-477-8438
lberman@igbir.com

Source: TriplePoint Venture Growth BDC Corp.

Key Terms

payment-in-kind coupon financial

A payment-in-kind coupon is when a borrower pays interest not with cash but by issuing more of the same security or another instrument (for example additional bonds, shares, or deferred payment rights). For investors this changes when and how they receive value — you get extra securities instead of immediate cash, which can boost long-term yield but reduces liquidity and may increase credit or dilution risk, like accepting store credit instead of a cash refund.

asset coverage ratio financial

Asset coverage ratio measures how much of a company’s debt or preferred claims could be paid off using its tangible assets if the business had to be sold. It’s a safety check for investors and creditors, showing the size of the asset “cushion” available to meet obligations; a higher ratio means more protection, like having enough savings and sellable belongings to cover outstanding bills, while a low ratio signals greater risk of loss.

unfunded commitments financial

Unfunded commitments are promises by investors to provide capital to an investment vehicle or fund that have been agreed upon but not yet called or paid. They matter because they represent future cash obligations and potential buying power—like agreeing to pay for future work on a house—which affects an investor’s liquidity, risk exposure and a fund’s ability to make new investments or meet obligations.