TriplePoint Venture Growth BDC Corp 2025年季度报告

(Mark One) xQUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE QUARTERLY PERIOD ENDEDMARCH 31, 2025OR ¨TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROMTOCOMMISSION FILE NUMBER:814-01044________________________________________________________________________________________________________________________________________________ TriplePoint Venture Growth BDC Corp. (Exact name of registrant as specified in its charter)________________________________________________________________________________________________________________________________________________ 2755 Sand Hill Road,Suite150,Menlo Park,California94025(Address of principal executive office)(650)854-2090(Registrant’s telephone number, including area code)Securities registered pursuant to Section12(b) of the Act: Name of Each Exchange on Which Registered TPVG The New York Stock Exchange Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days.Yes x No¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).Yesx No¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. LargeacceleratedfilerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes¨No x There were40,232,829shares of the Registrant’s common stock outstanding as of May6, 2025. TRIPLEPOINT VENTURE GROWTH BDC CORP.TABLE OF CONTENTS PagePART I. FINANCIAL INFORMATIONItem 1.Financial Statements (unaudited)1Consolidated Statements of Assets and Liabilities as of March 31, 2025 (unaudited) and December 31, 20241Consolidated Statements of Operations for the Three Months Ended March 31, 2025 (unaudited) and March 31,2024 (unaudited)2Consolidated Statements of Changes in Net Assets for the Three Months Ended March 31, 2025 (unaudited) andMarch 31, 2024 (unaudited)3Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 (unaudited) and March 31,2024 (unaudited)4Consolidated Schedules of Investments as of March 31, 2025 (unaudited) and December 31, 20245Notes to Consolidated Financial Statements (unaudited)32Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations51Item 3.Quantitative and Qualitative Disclosures About Market Risk66Item 4.Controls and Procedures68PART II. OTHER INFORMATIONItem 1.Legal Proceedings69Item 1A.Risk Factors69Item 2.Unregistered Sales of Equity Securities and Use of Proceeds69Item 3.Defaults Upon Senior Securities69Item 4.Mine Safety Disclosures69Item 5.Other Information70Item 6.Exhibits73Signatures74 PART I - FINANCIAL INFORMATION TRIPLEPOINT VENTURE GROWTH BDC CORP. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)(in thousands, except per share data) TRIPLEPOINT VENTURE GROWTH BDC CORP. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited)(dollars in thousands) (1)Investment is a non-qualifying asset under Section 55(a) of the 1940 Act. As of December31, 2024, non-qualifying assets represented32.7% ofthe Company’s total assets, at fair value.(2)As of December31, 2024, this investment was not pledged as collateral as part of the Company’s revolving credit facility.(3)Entity is not domiciled in the United States and does not have its principal place of business in the United States.(4)Investment is owned by TPVG Investment LLC, a wholly owned taxable subsidiary of the Company.(5)Investment is a cash success fee or a cash exit fee payable on the consummation of certain trigger events.(6)Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $50.5 million,$71.1 million and $20.7 million, respectively, for the December 31, 2024 investment portfolio. The tax cost of investments is$697.0million.(7)Debt is on non-accrual status as of December31, 2024