SCHEDULE: TriplePoint Entities Increase Stake in Venture Growth BDC

TriplePoint Capital LLC and related entities have disclosed increased beneficial ownership in TriplePoint Venture Growth BDC Corp., including a significant private purchase from a departing executive.

Summary

• Several TriplePoint entities, including TriplePoint Capital LLC (TPC), TPC Intermediate LLC, TriplePoint Capital Holdings LLC, Madera Ventures LLC, Robert Toan, and Michael Gontar, have filed a Schedule 13D detailing their beneficial ownership of TriplePoint Venture Growth BDC Corp. (the 'Issuer').
• As of September 22, 2026, the aggregate beneficial ownership reported ranges from 5.68% to 7.42% across these entities and individuals.
• A significant transaction occurred on September 18, 2026, where TPC purchased 313,865.22 shares from Sajal K. Srivastava, a co-CEO, Chief Investment Officer, and board member of the Issuer, for $4.7061 per share, totaling $1,477,081.09.
• This purchase was made using available cash on hand and was part of a discretionary share purchase program announced on August 6, 2025, to acquire up to $14 million of the Issuer's shares.
• Mr. Srivastava is set to resign from his executive and board positions effective December 31, 2026.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, as it details significant share acquisitions by key entities, indicating continued investment and confidence, but also highlights a substantial transaction involving a departing executive.

Positives

• Continued investment and increased beneficial ownership by TriplePoint entities suggest ongoing confidence in the Issuer.
• The TPC Purchase Plan demonstrates a commitment to acquiring shares at prices below Net Asset Value (NAV), potentially benefiting the Issuer.
• The acquisition of shares from a departing executive, while significant, was executed at a defined price, providing clarity.

Negatives

• The departure of a key executive (Sajal K. Srivastava) from both the Issuer and TPC could raise concerns about leadership continuity.
• The share purchase from Mr. Srivastava, while a private transaction, represents a substantial block of shares changing hands.

Risks

• The departure of Sajal K. Srivastava from his executive roles at the Issuer and TPC could impact operational continuity and strategic direction.
• Changes in beneficial ownership, particularly large private transactions, can sometimes precede shifts in corporate strategy or governance.

Future Outlook

The filing primarily reports on past and current beneficial ownership and transactions, with the main forward-looking element being the resignation of Sajal K. Srivastava effective December 31, 2026, which may influence future management and strategy.

Management Comments

• TPC acquired the reported securities for investment purposes.
• Sajal K. Srivastava notified the Issuer Board of his intention to resign from his executive officer positions at the Issuer and as a member of the Issuer Board, and from his executive officer position at TPC, effective the close of business on December 31, 2026.

Industry Context

StockSavvy.ai notes that this Schedule 13D filing is typical for investment firms and related parties accumulating significant stakes in publicly traded investment vehicles like Business Development Companies (BDCs). The transactions described, including share repurchases and a large block trade from a departing executive, are common within the financial services sector, particularly for BDCs managing portfolios of venture-backed companies.

Comparison to Industry Standards

• The ownership percentages reported (up to 7.42%) are substantial for a Schedule 13D filing, indicating significant influence or investment by the reporting persons.
• The TPC Purchase Plan, aiming to buy shares below NAV, aligns with BDC strategies to manage shareholder value, though the execution details (specific purchase prices and volumes) would need comparison to other BDCs' buyback programs.
• The private sale of a large block of shares by a key executive is a notable event. Industry practice varies, but such transactions can sometimes signal a shift in strategy or a liquidity event for the departing executive.

Management Changes

Related Party Transactions

• TPC purchased 313,865.22 shares of the Issuer's common stock from Sajal K. Srivastava, who is a co-founder and currently serves as Co-Chief Executive Officer of TPC, Chief Investment Officer and President of the Issuer, and a member of the Issuer Board.
• The TPC Purchase Plan involves discretionary share purchases by TPC, an entity closely related to the Issuer's management and advisory structure.

Stakeholder Impact

• Shareholders may see increased concentration of ownership among the reporting persons.
• The departure of Sajal K. Srivastava could impact investor confidence and the Issuer's strategic direction.
• The share purchase program may provide some support to the stock price if executed below NAV.

Next Steps

• Monitor the ongoing impact of Sajal K. Srivastava's departure on the Issuer's management and strategy.
• Observe any further share acquisitions or dispositions by the reporting persons.
• Track the Issuer's performance and NAV in relation to its share price, especially concerning the TPC Purchase Plan.

Key Dates

Recommendation

The filing indicates continued investment by key entities and a significant transaction involving a departing executive. While the increased ownership suggests confidence, the executive departure introduces uncertainty. The current ownership levels and the nature of the transactions warrant a 'hold' recommendation pending further clarity on the impact of the executive changes and the ongoing execution of the share purchase program.

Keywords

TriplePoint Venture Growth BDC, Schedule 13D, Beneficial Ownership, Share Purchase, Investment Platform, Venture Capital, BDC, SEC Filing