TriplePoint Venture Growth BDC (TPVG) Tops Q3 EPS by 2c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q3 EPS of $0.46, $0.02 better than the analyst estimate of $0.44.

• Generated record total investment income of $17.7 million, or $0.82 per share;
• Earned record net investment income of $10.0 million, or $0.46 per share;
• Net increase in net assets of $10.9 million, or $0.50 per share;
• Net asset value increased by $0.14 per share to $13.59;
• Signed $204.3 million of new term sheets and closed $63.2 million of new debt commitments to venture growth stage companies;
• Funded $53.4 million in debt investments with a 13.5% weighted average annualized portfolio yield at origination;
• Achieved a 19.3% weighted average annualized portfolio yield on debt investments;
• Realized a 14.8% return on average equity in the third quarter of 2018;
• Raised $94.6 million of net proceeds from the issuance of 6.9 million shares of common stock;
• TPVG portfolio company Farfetch Ltd. completed an $855 million initial public offering; and
• Declared a fourth quarter distribution of $0.36 per share, payable on December 14, 2018.

“2018 continues to be a year of achieving new records and outstanding portfolio performance,” stated Jim Labe, chairman and chief executive officer of TriplePoint Capital. “Strengthened by our position in the market as the premier venture lender, 2018 is on track for a strong finish,” added Mr. Labe.

“We continue to see record global demand for debt from high-quality venture growth stage companies,” stated Sajal Srivastava, president and chief investment officer of the Company. “Our strong financial position gives us the unique ability to thoughtfully and efficiently deploy capital to meet the needs of our innovative venture growth stage portfolio companies while offering attractive risk-adjusted returns to our shareholders.”

For earnings history and earnings-related data on TriplePoint Venture Growth BDC (TPVG) click here.

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