Private Credit Portfolio Analysis | TriplePoint Private Venture Credit Reports Q1 2025 Results
- Editor
- May 15
- 2 min read
Whats New:
TriplePoint Private Venture Credit Inc. reported its Q1 2025 financial results, showing a decrease in total assets and net asset value per share compared to the previous quarter. The fund's total assets decreased to $426.35 million as of March 31, 2025, down from $434.70 million at the end of 2024. The net asset value per share also declined to $10.73 from $11.11 at the end of the previous quarter.
Portfolio Dynamics:
Total assets decreased to $426.35 million as of March 31, 2025, compared to $434.70 million at the end of 2024.
Investments owned at fair value decreased to $346.82 million, down from $359.90 million at the end of 2024.
Cash and cash equivalents increased to $70.32 million from $41.22 million at the end of 2024.
Investment Activity:
Restricted cash decreased significantly to $1.71 million from $28.58 million at the end of 2024.
Prepaid expenses and other assets increased to $5.72 million from $2.98 million at the end of 2024.
Debt issuance costs for line of credit arrangements decreased to $1.78 million from $2.02 million at the end of 2024.
Capital Structure:
Line of credit remained unchanged at $88.00 million.
Unsecured debt slightly increased to $74.58 million from $74.54 million at the end of 2024.
Total liabilities increased to $171.56 million from $170.92 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $10.73 as of March 31, 2025, compared to $11.11 at the end of 2024.
Stockholders' equity decreased to $254.79 million from $263.78 million at the end of 2024.
Net loss for Q1 2025 was $8.97 million, compared to a net income of $3.78 million in Q1 2024.
Risk & Quality:
Management fee payable decreased slightly to $1.53 million from $1.56 million at the end of 2024.
Accrued liabilities and other liabilities increased to $7.44 million from $6.82 million at the end of 2024.
The fund reported unrealized losses on investments of $11.06 million for Q1 2025.
The Wrap:
TriplePoint Private Venture Credit Inc.'s Q1 2025 results show a challenging quarter with decreased total assets, lower net asset value per share, and a net loss. The fund experienced a significant reduction in investments at fair value and restricted cash, while increasing its cash and cash equivalents. Despite stable debt levels, the overall financial position weakened compared to the previous quarter, reflecting potential challenges in the venture credit market.
Comments