TriplePoint Venture Growth BDC Corp. (TPVG) Balance Sheet
TPVG balance sheet, 2025
December 31, 2025 · U.S. dollars$839.6M assets = $486.0M liabilities + $353.6M equity
Both columns are drawn to the same scale: what TPVG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TPVG financial health
Descriptive bands, not a rating. Fiscal 2025.
TPVG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $434.2M2016 | $839.6M2025 | +7.6%/yr | |
| Total liabilities | $218.4M2016 | $486.0M2025 | +9.3%/yr | |
| Shareholders’ equity | $215.9M2016 | $353.6M2025 | +5.6%/yr | |
| Cash & short-term investments | $47.8M2016 | $20.4M2025 | −9.0%/yr | |
| Total debt | $221.6M2016 | $469.1M2025 | +8.7%/yr | |
| Net cash (debt) | −$173.8M2016 | −$448.7M2025 | −$274.9M | |
| Working capital | −$158.4M2016 | $28.3M2024 | +$186.7M | |
| Book value per share | $13.362016 | $8.782025 | −4.6%/yr | |
| Debt / equity | 1.032016 | 1.332025 | +0.30 | |
| Shares outstanding | 16.2M2016 | 40.3M2025 | +10.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TPVG assets
TPVG liabilities and equity
TPVG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TPVG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $20.4M | $45.9M | $153.3M | $51.5M | $51.3M | $38.2M | $20.3M | $23.4M | $129.4M | $47.8M |
| Cash & equivalents | $20.4M | $45.9M | $153.3M | $51.5M | $51.3M | $38.2M | $20.3M | $3.4M | $4.5M | $7.8M |
| Short-term investments | — | — | — | $949.3M | $865.3M | — | — | $20.0M | $124.9M | $40.0M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $2.4M | $1.9M | $1.0M | $1.9M | $0 | $2.5M | $2.3M | $12.1M |
| Total current assets | $20.4M | $45.9M | $155.7M | $53.4M | $52.3M | $40.1M | $20.3M | $25.9M | $131.7M | $59.9M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $783.5M | $676.2M | $802.1M | $949.3M | $865.3M | $633.8M | $653.1M | $453.4M | $497.0M | $414.3M |
| Other non-current assets | $35.7M | $40.9M | $21.0M | $11.9M | $10.0M | $9.6M | $10.7M | $0 | $0 | $0 |
| Total assets | $839.6M | $763.0M | $978.8M | $1.01B | $927.7M | $683.5M | $684.1M | $467.1M | $510.3M | $434.2M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | — | $0 | $3.1M | $2.5M | $20.0M | $124.9M | $40.0M |
| Short-term debt | — | $69.9M | $607.9M | $175.0M | $467.5M | $261.1M | $335.8M | $23.0M | $67.0M | $168.3M |
| Deferred revenue | — | — | — | — | — | −$258.0M | — | — | — | — |
| Total current liabilities | — | $17.6M | $27.5M | $175.0M | $22.5M | $3.1M | $13.6M | $55.2M | $200.3M | $218.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $335.8M | $72.9M | $72.4M | $53.3M |
| Other long-term liabilities | $486.0M | $417.4M | $632.5M | $594.6M | $493.2M | $280.0M | $0 | $4.3M | $2.6M | $155.0M |
| Total liabilities | $486.0M | $417.4M | $632.5M | $594.6M | $493.2M | $283.1M | $335.8M | $132.5M | $275.3M | $218.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $405,000 | $401,000 | $376,000 | $353,000 | $310,000 | $309,000 | $249,000 | $248,000 | $177,000 | $160,000 |
| Retained earnings (deficit) | −$161.2M | −$168.4M | −$147.0M | −$51.0M | $20.0M | −$12.4M | −$795,000 | $3.0M | −$720,000 | $57.8M |
| Accumulated other comprehensive income | — | — | $0 | $7.4M | $45.0M | −$28.6M | −$7.5M | $334.5M | −$1.7M | −$16.8M |
| Total shareholders' equity | $353.6M | $345.7M | $346.3M | $419.9M | $434.5M | $400.4M | $348.4M | $334.5M | $234.9M | $215.9M |
| Key figures | ||||||||||
| Total debt | $469.1M | $398.8M | $607.9M | $567.0M | $467.5M | $261.1M | $335.8M | $95.9M | $139.4M | $221.6M |
| Net cash (debt) | −$448.7M | −$352.9M | −$454.6M | −$515.5M | −$416.2M | −$222.9M | −$315.5M | −$72.6M | −$10.0M | −$173.8M |
| Working capital | — | $28.3M | $128.2M | −$121.6M | $29.8M | $37.0M | $6.7M | −$29.3M | −$68.6M | −$158.4M |
| Tangible book value | $353.6M | $345.7M | $346.3M | $419.9M | $434.5M | $400.4M | $348.4M | $334.5M | $234.9M | $215.9M |
| Book value per share | $8.78 | $8.84 | $9.70 | $12.85 | $14.04 | $13.10 | $14.02 | $16.33 | $14.39 | $13.36 |
| Shares outstanding | 40.3M | 39.1M | 35.7M | 32.7M | 30.9M | 30.6M | 24.8M | 20.5M | 16.3M | 16.2M |
| Current ratio | — | 2.60 | 5.66 | 0.30 | 2.33 | 13.00 | 1.49 | 0.47 | 0.66 | 0.27 |
| Quick ratio | — | 2.60 | 5.57 | 0.29 | 2.28 | 12.38 | 1.49 | 0.42 | 0.65 | 0.22 |
| Debt / equity | 1.33 | 1.15 | 1.76 | 1.35 | 1.08 | 0.65 | 0.96 | 0.29 | 0.59 | 1.03 |
| Equity / assets | 42.1% | 45.3% | 35.4% | 41.4% | 46.8% | 58.6% | 50.9% | 71.6% | 46.0% | 49.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $14.0M | $9.0M | $20.4M | $20.0M | $62.4M | $34.7M | $45.9M | $48.3M | $50.4M | $124,000 | $153.3M | $105.0M |
| Cash & equivalents | $14.0M | $9.0M | $20.4M | $20.0M | $62.4M | $34.7M | $45.9M | $48.3M | $50.4M | $124,000 | $153.3M | $105.0M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $10.3M | $0 | $0 | $0 | $0 | $0 | $0 | $4.2M | $4.3M | $5.9M | $2.4M | $2.8M |
| Total current assets | $24.3M | $9.0M | $20.4M | $20.0M | $62.4M | $34.7M | $45.9M | $52.5M | $54.8M | $6.0M | $155.7M | $107.8M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $780.7M | $785.6M | $783.5M | $798.5M | $717.9M | $682.0M | $676.2M | $721.0M | $713.8M | $773.6M | $802.1M | $870.2M |
| Other non-current assets | $4.0M | $12.4M | $35.7M | $17.0M | $8.0M | $18.2M | $40.9M | $4.9M | $2.7M | $3.0M | $21.0M | $20.5M |
| Total assets | $809.0M | $807.1M | $839.6M | $835.5M | $788.2M | $734.8M | $763.0M | $778.3M | $771.3M | $782.6M | $978.8M | $998.5M |
| Liabilities | ||||||||||||
| Short-term debt | $195.0M | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $207.0M | — | — | $3.4M | $14.2M | — | — | — | $14.9M | $9.2M | $23.0M | $19.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $249.2M | $456.1M | $486.0M | $477.1M | $439.6M | $387.9M | $417.4M | $414.1M | $418.3M | $441.4M | $632.5M | $624.4M |
| Total liabilities | $456.2M | $456.1M | $486.0M | $480.5M | $439.6M | $387.9M | $417.4M | $414.1M | $418.3M | $441.4M | $632.5M | $624.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $407,000 | $406,000 | $405,000 | $404,000 | $403,000 | $402,000 | $401,000 | $400,000 | $399,000 | $378,000 | $376,000 | $361,000 |
| Retained earnings (deficit) | −$163.0M | −$164.3M | −$161.2M | −$160.7M | −$166.7M | −$167.8M | −$168.4M | −$150.8M | −$161.4M | −$154.1M | −$147.0M | −$104.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $352.8M | $351.0M | $353.6M | $355.1M | $348.7M | $347.0M | $345.7M | $364.3M | $353.0M | $341.3M | $346.3M | $374.1M |
| Key figures | ||||||||||||
| Total debt | $444.2M | $446.2M | $469.1M | $468.8M | $423.6M | $378.4M | $398.8M | $403.6M | $403.4M | $432.1M | $607.9M | $602.7M |
| Net cash (debt) | −$430.2M | −$437.1M | −$448.7M | −$448.8M | −$361.2M | −$343.7M | −$352.9M | −$355.3M | −$352.9M | −$432.0M | −$454.6M | −$497.7M |
| Working capital | −$182.7M | — | — | $16.7M | $48.2M | — | — | — | $39.8M | −$3.2M | $132.7M | $88.4M |
| Tangible book value | $352.8M | $351.0M | $353.6M | $355.1M | $348.7M | $347.0M | $345.7M | $364.3M | $353.0M | $341.3M | $346.3M | $374.1M |
| Book value per share | $8.69 | $8.69 | $8.75 | $8.80 | $8.67 | $8.64 | $8.63 | $9.12 | $9.11 | $9.06 | $9.50 | $10.51 |
| Shares outstanding | 40.6M | 40.4M | 40.4M | 40.3M | 40.2M | 40.1M | 40.1M | 40.0M | 38.7M | 37.6M | 36.5M | 35.6M |
| Current ratio | 0.12 | — | — | 5.96 | 4.40 | — | — | — | 3.67 | 0.65 | 6.76 | 5.55 |
| Quick ratio | 0.07 | — | — | 5.96 | 4.40 | — | — | — | 3.38 | 0.01 | 6.66 | 5.41 |
| Debt / equity | 1.26 | 1.27 | 1.33 | 1.32 | 1.21 | 1.09 | 1.15 | 1.11 | 1.14 | 1.27 | 1.76 | 1.61 |
| Equity / assets | 43.6% | 43.5% | 42.1% | 42.5% | 44.2% | 47.2% | 45.3% | 46.8% | 45.8% | 43.6% | 35.4% | 37.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 4, 2026); data from EODHD.
TPVG financial position
At the end of fiscal 2025 (December 31, 2025), TriplePoint Venture Growth BDC had total assets of $839.6 million (up 10.0% from a year earlier), total liabilities of $486.0 million and shareholders' equity of $353.6 million. It held $20.4 million in cash and short-term investments against $469.1 million of debt, net debt of $448.7 million. In the latest quarter (ended June 30, 2026) total assets were $809.0 million and equity $352.8 million.
Related: TPVG income statement, TPVG cash flow statement, TPVG key metrics. See the TPVG stock overview for the latest quote and news.
TPVG balance sheet FAQ
What are TriplePoint Venture Growth BDC's total assets?
TriplePoint Venture Growth BDC reported total assets of $839.6 million at the end of fiscal 2025 (December 31, 2025), compared with $763.0 million a year earlier.
How much debt does TriplePoint Venture Growth BDC have?
TriplePoint Venture Growth BDC had $469.1 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.33.
How much cash does TriplePoint Venture Growth BDC have?
TriplePoint Venture Growth BDC held $20.4 million in cash and short-term investments at the end of fiscal 2025; with $469.1 million of debt that is net debt of $448.7 million.
What is TriplePoint Venture Growth BDC's book value?
TriplePoint Venture Growth BDC's shareholders' equity (book value) was $353.6 million at the end of fiscal 2025, or $8.78 per share.