TriplePoint Venture Growth BDC Corp.

The company is an externally managed, closed-end, non-diversified management investment company that operates as a business development company (BDC). Formed on June 28, 2013, as a Maryland corporation, its primary goal is to maximize total return to stockholders through current income and, secondarily, capital appreciation. It achieves this by lending, typically with warrants, to venture growth stage companies, primarily in technology and other high-growth industries. These companies are backed by TPC's select group of leading venture capital investors. The company originates and invests mainly in secured loans, which venture growth stage companies use to finance their expansion. It also provides select equipment financings and revolving loans, often with attached equity "kickers" like warrant investments, and makes direct equity investments in venture capital-backed companies. The company targets an unlevered yield-to-maturity on its growth capital loans and equipment financings generally ranging from 10% to 18%. For revolving loans, the target range is generally 1% to 10% above the applicable Prime Rate or a market margin above SOFR-indexed loans. Higher returns are possible if warrant investments are exercised or related equity investments are sold at a profit. The company generally underwrites its secured loans seeking a loan-to-enterprise value of less than 25%. Investments are selected based on the Adviser's senior investment team's assessment of a low probability of loss, considering the revenue profile, product validation, customer commitments, intellectual property, financial condition, and enterprise value of the opportunity.