Private Credit Portfolio Analysis | TriplePoint Venture Growth BDC Corp Reports 2024 Results
- Editor
- Mar 5
- 2 min read
Whats New:
TriplePoint Venture Growth BDC Corp reported its 2024 financial results, showing a significant decrease in total assets and liabilities compared to the previous year. The fund's total assets decreased to $763.04 million as of December 31, 2024, down from $978.83 million at the end of 2023. The net asset value per share also declined to $8.61 from $9.21 at the end of the previous year.
Portfolio Dynamics:
Total assets decreased to $763.04 million as of December 31, 2024, compared to $978.83 million at the end of 2023.
Investments owned at fair value decreased to $676.25 million, down from $802.15 million at the end of 2023.
Cash and cash equivalents decreased to $45.90 million from $153.33 million at the end of 2023.
Investment Activty:
Payments for purchase of investments decreased to $136.02 million in 2024 from $126.99 million in 2023.
Proceeds from disposition of investments increased to $256.31 million in 2024 from $183.91 million in 2023.
Interest income paid in kind increased to $15.06 million in 2024 from $11.65 million in 2023.
Capital Structure:
Line of credit decreased significantly to $5.00 million from $215.00 million at the end of 2023.
Total liabilities decreased to $417.35 million from $632.52 million at the end of 2023.
Stockholders' equity remained relatively stable at $345.69 million compared to $346.31 million at the end of 2023.
Performance Profile:
Net asset value per share decreased to $8.61 as of December 31, 2024, compared to $9.21 at the end of 2023.
Net income for 2024 was $32.05 million, a significant improvement from a net loss of $39.82 million in 2023.
Total investment income data not provided in the given financial statements.
Risk & Quality:
Unrealized gain on investments of $10.51 million in 2024, compared to an unrealized loss of $37.87 million in 2023.
Realized loss on sale of investments of $33.02 million in 2024, compared to a loss of $75.76 million in 2023.
Management fee payable decreased to $3.41 million from $4.49 million at the end of 2023.
The Wrap:
TriplePoint Venture Growth BDC Corp experienced a challenging year in 2024, with significant decreases in total assets and investments at fair value. However, the fund showed improvement in net income and reduced its liabilities, particularly its line of credit. The decrease in net asset value per share and continued losses on sale of investments indicate ongoing challenges, but the positive unrealized gain on investments suggests potential for future recovery.
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