TriplePoint Venture Growth (NYSE:TPVG) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET

Company Participants

Jim Labe – Chief Executive Officer and Chairman

Sajal Srivastava – President and Chief Investment Officer

Chris Mathieu – Chief Financial Officer

Conference Call Participants

Finian O'Shea – Wells Fargo

Crispin Love – Piper Sandler

Kevin Fultz – JMP Securities

Ryan Lynch – KBW

Casey Alexander – Compass Point

Christopher Nolan – Ladenburg Thalmann

Operator

Good afternoon, ladies and gentlemen, and welcome to the TriplePoint Venture Growth BDC Corporation First Quarter 2023 Earnings Conference Call. At this time, all lines have been placed in a listen-only mode. After the speakers' remarks, there will be an opportunity to ask questions and instructions will follow at that time. This conference is being recorded and a replay of this call will be available in an audio webcast on the TriplePoint Venture Growth website. Company |is pleased to share with you the company's results for the first quarter of 2023. Today representing the company is Jim Labe, Chief Executive Officer and Chairman of the Board; Sajal Srivastava, President and Chief Investment Officer; and Chris Mathieu, Chief Financial Officer.

Before I turn the call over to Mr. Labe, I'd like to direct your attention to the customary Safe Harbor disclosure in the company's release regarding forward-looking statements and remind you that during this call, management will make certain statements that relate to future events or the company's future performance or financial condition, which are considered forward-looking statements under federal securities law. You're asked to refer to the company's most recent filings with the Securities and Exchange Commission for important factors that could cause actual results to differ materially from these statements. The company does not undertake any obligation to update any forward-looking statements or projections unless required by law. Investors are cautioned not to place undue reliance on any forward-looking statements made during the call, which reflect management's opinions only as of today. To obtain copies of our latest SEC filings, please visit the company's website at www.tpvg.com.

Now, I would like to turn the call over to Mr. Labe.

Jim Labe

Good afternoon everyone, and thank you for joining TPVG's first quarter earnings call. During the first quarter of 2023, we continue to maintain our selective approach given these markets. We grew the portfolio to nearly $1 billion and generated net investment income or NII of $0.53 per share continuing to demonstrate the earnings power of our portfolio. NII for the quarter exceeded our quarterly distribution of $0.40 per share. Including TPVG's most recent distribution increase in March of this year, we have now increased our quarterly distribution to 11% since the third quarter of 2022.