TriplePoint Venture Growth BDC Corp. Overview
Pro stress-test →TriplePoint Venture Growth BDC Corp. (TPVG) is a business development company that lends to venture capital–backed growth companies in technology and other high-growth industries, aiming to generate most of its return from current interest income, with upside from equity and warrant gains. Founded in 2013, TPVG is an externally managed, closed-end, non-diversified investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940.
Strategic Profile
Pro stress-test →TPVG focuses on secured growth capital loans, equipment financings, and revolving credit facilities, typically to companies with at least a $20 million annualized revenue run rate and backing from a select group of leading venture capital firms. The BDC gains a competitive edge by leveraging TriplePoint Capital's long-standing relationships with premier venture capital investors.
Competitive Landscape
Pro stress-test →TPVG's specialization in venture growth stage lending allows it to underwrite a distinct risk profile, differentiating it from traditional banks or even other BDCs. Primary competitors include other venture debt BDCs such as Horizon Technology Finance, Compass Diversified, and Silicon Valley Bank's venture lending platform (pre-crisis), though TPVG's exclusive focus on VC-backed growth companies and warrant-based equity upside provides differentiation.
Industry Context
TriplePoint Venture Growth BDC Corp. operates in Venture Debt / Business Development Company (BDC).
Key facts
Founded: 2013 · Headquarters: Menlo Park, US · Market cap: ~$278.8M