TriplePoint Venture Growth (TPVG) is a Business Development Company (BDC) that provides debt financing to venture capital-backed companies at the "venture growth stage" — typically companies generating at least $20M in annualized revenue that are scaling toward an IPO or acquisition. TPVG's core product is growth capital loans: secured, fixed or floating rate loans typically ranging from $5M to $75M with 3–5 year terms, often with an initial interest-only period. TPVG also offers equipment financings and revolving loan facilities. In most cases, TPVG receives warrants alongside loans, giving it equity upside if borrowers are acquired or go public. TPVG targets high-growth sectors including AI, enterprise software, cybersecurity, fintech, and health tech, and only lends to companies backed by a curated group of top-tier VC firms. TPVG earns income through interest, upfront and end-of-term fees, prepayment income, and warrant/equity gains, with unlevered yield targets of 10–18% on growth capital loans. TPVG is externally managed by TriplePoint Capital, a Sand Hill Road-based venture lender. As a regulated investment company, TPVG distributes at least 90% of investment income as dividends. TPVG is currently repositioning its portfolio toward AI, enterprise software, EBITDA-positive borrowers, and U.S.-focused lending, after elevated credit losses from consumer and international loans originated in 2021–2022.