#1† TRIPLE POINT VENTURE GROWTH Investor Presentation Quarter Ended March 31, 2019 May 1, 2019 www.tpvg.com#2Forward Looking Statement Some of the statements in this presentation constitute forward-looking statements, which relate to future events or our future performance or financial condition. The forward-looking statements contained in this presentation involve risks and uncertainties, including statements as to: our future operating results; our business prospects and the prospects of our portfolio companies; our relationships with third parties including venture capital investors; the impact and timing of our unfunded obligations; the expected market for venture capital investments; the performance of our portfolio and other investments that we may make in the future; the impact of investments that we expect to make; actual and potential conflicts of interest with TriplePoint Capital LLC ("TriplePoint Capital") and TriplePoint Advisers LLC (our "Adviser") and its senior investment team and Investment Committee; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the ability of our Adviser to attract, retain and have access to highly talented professionals, including our Adviser's senior investment team; our ability to qualify and maintain our qualification as a regulated investment company, or "RIC," and as a business development company, or "BDC;" the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies. Such forward-looking statements are typically preceded by, followed by or otherwise include the words "may," "might," "will," "intend," "should," "could," "can," "would," "expect," "believe," "estimate," "anticipate," "predict," "potential," "plan" or similar words. We have based the forward-looking statements included in this presentation on information available to us on the date of this presentation, and we assume no obligation to update any such forward-looking statements. Actual results could differ materially from those anticipated in our forward-looking statements, and future results could differ materially from historical performance. Although we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports that we in the future may file with the Securities and Exchange Commission ("SEC"), including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. We believe that the assumptions on which any forward-looking statements are based are reasonable. However, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this presentation should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this presentation. For a further discussion of factors, risks and uncertainties that could cause our future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2018 filed with the SEC on March 6, 2019, and the Company's other public SEC filings. This presentation contains statistics and other data that has been obtained from or compiled from information made available by third-party service providers. We have not independently verified such statistics or data. These materials and any presentation of which they form a part are neither an offer to sell, nor a solicitation of an offer to purchase, an interest in the Company in any jurisdiction where the offer or sale is not permitted or would be unlawful under the securities laws of such jurisdiction. The information presented in this presentation is as of March 31, 2019 unless indicated otherwise. T ::H 2#3TriplePoint Venture Growth BDC Corp. Snapshot Structure Symbol IPO Date Market Capitalization Net Asset Value Distributions Declared Annualized Dividend Yield on Market Price (2) 52 Week Range (3) Publicly traded business development company (BDC) TPVG (NYSE) - Common Stock TPVY (NYSE)-5.75% Notes Due 2022 (1) March 5, 2014 $341.5 million as of March 31, 2019 $13.59 per share at March 31, 2019 $0.36 per share for Q2 2019 10.5% as of March 31, 2019 $10.38 - $13.94 Total Return 27.2% year to date (4) (1) Issued on July 14, 2017 (2) Annualized based on $0.36 of distributions declared and paid in Q1 2019 and a closing stock price of $13.76 as of March 31, 2019. (3) Closing Prices. Source: Yahoo Finance as of March 31, 2019. F (4) Total return is the change in the ending stock price of the Company's common stock plus distributions paid for the period assuming participation in the Company's dividend reinvestment plan divided by the 3/31/19 closing stock price of the Company's common stock. 3#4TriplePoint Venture Growth BDC Corp. Overview HIGHLY DIFFERENTIATED BUILT FOR SUCCESS ALIGNED WITH PUBLIC SHAREHOLDERS DELIVERING RESULTS - The 4 R's- Relationships Reputation References Returns#5TriplePoint Venture Growth BDC Corp. Overview HIGHLY DIFFERENTIATED INVESTMENT STRATEGY MARKET OPPORTUNITY INVESTMENT OBJECTIVE " USE CASE FOR VENTURE LENDING⚫ Lend to venture capital backed companies at the venture growth stage Target companies backed by a select group of leading venture capital investors Focus on technology, life sciences, and other high-growth industries Venture growth stage companies have distinct risk-mitigating characteristics Large & growing market opportunity for lending to venture growth stage companies Highly fragmented, underserved market with high barriers to entry Complements equity investment from VC investors which helps to reduce downside Provide highly-customized, senior secured "growth capital" loans Targeted returns of 10% - 18% on debt investments from interest and fees Additional upside through equity "kickers" in the form of warrants Ability to grow faster, finance business expansion & extend runway - enabling companies to achieve more milestones and command a higher future valuation Longer exit timing for IPOs and M&A requires more capital Enables diversification of funding sources LO 5#6TriplePoint Venture Growth BDC Corp. Overview A BUILT FOR SUCCESS STRUCTURE UNIQUE SPONSOR RELATIONSHIP INDUSTRY LEADING EXPERTISE DIRECT ORIGINATIONS Externally-managed business development company (BDC) Common stock trades on the New York Stock Exchange: "TPVG" Approximately $75 million of notes trade on the New York Stock Exchange: "TPVY" Managed by an affiliate of Triple Point Capital, the leading global financing partner to venture capital backed companies across all stages of development Exceptional brand name, reputation, track record, venture capital investor relationships and direct originations capabilities Highly experienced executive and investment teams with co-founders that have worked together for more than 20 years Proprietary processes benefiting from co-founders track record of lending to more than 1,800 companies and deploying more than $8.5 billion of capital (1) TriplePoint Capital originates all deal flow - not a separate team for TPVG All deal flow is directly originated- do not utilize brokers/agents or syndications Leads/referrals are primarily sourced from venture capital & industry relationships (1) Includes track records prior to TriplePoint Capital. SQ#7TriplePoint Venture Growth BDC Corp. Overview ALIGNED WITH PUBLIC SHAREHOLDERS 1.75% management fee SHAREHOLDER FRIENDLY" 8% annualized hurdle rate for income incentive fee FEE STRUCTURE Total return requirement whereby incentive fees are capped at 20% of cumulative net increase in net assets resulting from operations since our IPO date NON-DILUTIVE EQUITY OFFERINGS DISCIPLINE IN MANAGING CAPITAL All equity offerings have been at or above net asset value Have not requested shareholder approval to raise equity below NAV Adviser has paid more than $14 million of offering expenses since inception Raised $94.6 million of net proceeds from the issuance of common stock in a public offering and private placement in August 2018 at $13.70 per share Sold $22 million of stock to funds managed by Goldman Sachs Asset Management, LP in a PIPE transaction in October 2017 at $13.54 per share Repurchased $11 million of stock (1) in 2015 and 2016 at a weighted average price of $11.48 per share (1) Including commissions 7#8TriplePoint Venture Growth BDC Corp. Overview الله DELIVERING RESULTS DEMONSTRATED $2.9 billion of signed non-binding term sheets ORIGINATIONS $2.1 billion of cumulative originations CAPABILITIES (1) $1.1 billion of cumulative fundings HIGH YIELDING, HIGH QUALITY PORTFOLIO (1) (2) SHAREHOLDER RETURNS $457.7 million of funded investments Includes 50 warrants and 16 equity investments at $33.3 million of fair value 1.95 weighted average credit ranking of the debt investment portfolio Weighted average annualized portfolio yield on debt investments of 16.5% in Q1 2019 $7.44 of cumulative distributions paid per share since IPO through Q1 2019 $0.36 distribution for Q2 2019 and 10.5% annualized 2019 dividend yield on NAV (3) Total return of 62.6% since IPO & total return of 27.2% year to date (4) 11.9% NII return on average equity and 8.6% NII return on average assets YTD 2019 (1) As of 3/31/19. Includes commitments acquired from TriplePoint Capital and originated since IPO. (2) The Company's weighted average annualized portfolio yield on debt investments may be higher than an investor's yield on an investment in shares of its common stock. The weighted average annualized portfolio yield on debt investments does not reflect operating expenses that may be incurred by the Company. (3) Annualized based on $0.36 of distributions declared and paid in Q1 2019 and a closing stock price of $13.76 as of March 31, 2019 (4) Total return is the change in the ending stock price of the Company's common stock plus distributions paid for the period assuming participation in the Company's dividend reinvestment plan divided by the 3/31/19 closing stock price of the Company's common stock. 8#9Financial Highlights FIRST QUARTER 2019 HIGHLIGHTS Earned net investment income of $9.9 million, or $0.40 per share; Generated a net increase in net assets of $11.1 million, or $0.45 per share, resulting in a net asset value of $13.59 per share; Signed $250.0 million of new term sheets at Triple Point Capital LLC ("TPC"), and TPVG closed $191.0 million of new debt commitments to venture growth stage companies; Funded $89.5 million in debt investments with a 13.0% weighted average annualized portfolio yield at origination; Achieved a 16.5% weighted average annualized portfolio yield on debt investments, including the impact of prepayments; Realized a 11.9% return on average equity, based on net investment income, during the quarter; and Paid a first quarter distribution of $0.36 per share on March 29, 2019. 6#10Financial Highlights RECENT DEVELOPMENTS The Company closed $17.1 million of additional debt commitments; The Company funded $39.8 million in new investments; and TPC's direct originations platform entered into $95.0 million of additional non-binding signed term sheets with venture growth stage companies. The Company declared a quarterly distribution of $0.36 per share for the second quarter of 2019 payable on June 14, 2019, to stockholders of record as of May 31, 2019. 10#11Investment Highlights Industry Leading Sponsor With Premium Brand, Track Record and Platform Large And Growing Market With High Barriers to Entry H: Differentiated Investment Strategy TRIPLE POINT VENTURE GROWTH Attractive Risk- Adjusted Returns With Equity Upside Potential Experienced Team With Time-Tested Processes Strong Financial Profile With Large Committed Credit Facility 11#12Highly Experienced Management Team JIM LABÉ Chairman & Chief Executive Officer Co-Founder of TriplePoint Capital Pioneer of the Venture Leasing and Lending Industry Founder and CEO of Comdisco Ventures Equitec Financial Group SAJAL SRIVASTAVA President & Chief Investment Officer Co-Founder of Triple Point Capital Head of the Investment and Credit Analyst Team at Comdisco Ventures Technology Investment Banking Group at Prudential Securities CHRIS GASTELU Interim Chief Financial Officer Joined TriplePoint Capital in March 2019 as Interim CFO Advisor to TriplePoint Capital since 2014 Managing Director, Financial Institutions Group at UBS Investment Bank 12 12#13TriplePoint Capital Platform Overview T TRIPLEPOINT CAPITAL The leading global financing provider devoted to serving venture capital backed companies throughout their lifespan KEY HIGHLIGHTS Founded in 2005 by Jim Labe and Sajal Srivastava Headquartered on Sand Hill Road in Silicon Valley with regional offices in New York City and Boston Provides debt, equity and complementary services to privately-held, venture capital-backed companies across all stages of development around the world PLATFORM Exceptional brand name, reputation, venture capital investor relationships & direct originations capabilities The TriplePoint platform has committed more than $5 billion to 500 companies across the globe Raised more than $2.5 billion of funding & debt capital EXPERIENCE Highly experienced team utilizing proprietary and proven methods for investment process and portfolio management Co-founders have worked together for more than 20 years Distinct focus on and deep relationships with a select group of leading venture capital investors and their portfolio companies 33 13#14TriplePoint Capital - Financed 400+ Leading Companies (1) action AppNexus BAYHILL THERAPEUTICS BLUE BOTTLE Bolt Threads Casper CheggⓇ Cognitive Scale COHESITY DOLLAR SHAVE CLUB ENDOCHOICE CROWDSTRIKE dropcam Etsy fabfitfun facebook. GOEURO FARFETCH HGAIKAI ILYPSA Jet JUSTWORKS. Kabbage FORGEROCK® >krux Lime MATCHES FASHION.COM metromile main street hub mongoDB NUTANIX. OncoMed PHARMACEUTICALS PillPack PROTEOLIX Quantum) Scape RENT THE RUNWAY Revolut ring RingCentral GAMES Ruckus WIRELESS D SEGWAY SHAZам simplivity splunk> □ Square STANCE SWIFT FINANCIAL Tell part THE CLIMATE ☐ toast Trius VARONIS workday YouTube ZZUME PIZZA CORPORATION Therapeutics (1) Selected list of current and past TriplePoint Capital customers 14#15TriplePoint Capital's Unique Lifespan Approach Identifies Strong Opportunities and Establishes Relationships Across All Stages BDC's Target Stage Ï TRIPLE POINT VENTURE GROWTH SEED STAGE "Start-ups" in "conceptual phase" No product development ■ Angel and seed investors EARLY STAGE Product development Initial revenues One or more rounds of venture financing ☐ LATER STAGE Further product development Generating early revenues Additional rounds of venture financing VENTURE GROWTH STAGE "Crossed the chasm" Generally at least $20 million in revenues Building critical mass and commanding market position Received several rounds of venture capital Preparing for liquidity event VENTURE CAPITAL-BACKED LIFECYCLE STAGES PUBLIC Publicly traded shares 15#16TPVG's Approach / Venture Growth Stage WE TAKE OUR CUSTOMERS THROUGH THE RED ZONE TO THE END ZONE + TRIPLEPOINT CAPITAL -01 -07-08-01 09 07 08 07 01- Venture Seed Stage Early Later Growth Stage Stage Stage -10-20-30-40 50 40- 30- 20- 10- VENTURE GROWTH TRIPLE POINT 16#17Venture Growth Stage Market Fragmented Market with Limited Competition Given High Barriers to Entry SEED STAGE EARLY STAGE LATER STAGE VENTURE GROWTH STAGE PUBLIC (H T TRIPLE POINT VENTURE GROWTH VENTURE BANKS EARLY STAGE DEBT FUNDS LATER STAGE DEBT FUNDS OPPORTUNISTIC DEBT FUNDS OTHER VENTURE BDCS 17#18Compelling Relative Risk-Adjusted Returns HIGH YIELDS TO MATURITY WITH VC EQUITY SUPPORT AND LOW TOTAL LEVERAGE Higher Return Potential Through Warrants and Prepayments 10-18% (1) Generally short term financings (3-4 years) Typically amortizing facilities Prepayments boost returns from acceleration of fees and penalties Target loan-to-enterprise value of under 25% at time of underwriting ■ Low total leverage profiles of obligors ■ Benefit from equity cushion of VC sponsors Obligors typically preparing for an IPO or M&A in the next 1-3 years TARGETED UNLEVERED RETURNS (1) Excludes equity and warrant gains. Returns based on upfront fees, interest rates, and end of term payments. No guarantee targeted return will be achieved. 18#19Illustrative TPVG Product Pricing Summary CUSTOMIZED DEBT FINANCING BASED ON ANALYSIS OF THE PROSPECTIVE OBLIGOR PRODUCT TRANSACTION SIZE TERM COLLATERAL WARRANTS Growth Capital Loans $5 Million - $50 Million 36-60 Months Senior on All Assets Typically Equipment Financings $5 Million - $25 Million 36-48 Months Equipment Typically Senior on All Assets Revolving Loans $1 Million - $25 Million 12-36 Months And/or Specific Asset Financed Typically Warrants Percentage of Loan Amount Direct Equity $100,000 - $5 Million 19#20Time-Tested Investment Process & Portfolio Management BENEFITS FROM MORE THAN 25 YEARS OF EXPERIENCE & EXPERTISE PORTFOLIO MANAGEMENT INVESTMENT PROCESS ORIGINATIONS ■Leads and initial screening ■ Process takes approximately 2 weeks to 3 or more months ADMINISTRATION INVESTMENT & CREDIT ANALYSIS ■ Initial screening performed ■ Diligence process and detailed credit memorandum (2-4 weeks) New borrowers analyzed weekly by senior investment team MONITORING INVESTMENT COMMITTEE ■ Transaction presented to Investment Committee for approval ■ Unanimous approval is required CREDIT WATCH LIST LEGAL ■ Transaction negotiations and legal diligence/review ■ Status discussed weekly with senior team 2-5 weeks, in parallel with diligence process Day-to-day servicing ■ Coordinates funding requests ■ Tracks / verifies borrower assets and collateral ■ Tracks financial performance, compliance and risk rating ■Reviews all borrower updates ■ Status / issues discussed weekly with senior team ■ Deteriorating borrowers posted to "Credit Watch List" Actively works to maintain an open dialogue to limit the likelihood of a default WORK-OUT & RESTRUCTURING ■ Decision to restructure, settle, request early pay- off or wait for an external event ■Sells collateral with the help of management, repossesses and auctions assets 20 20#21High Yielding, High Quality Portfolio (1) (2) $424.4 16.5% MILLION(1) YIELD (3) DEBT PORTFOLIO YIELD PROFILE $18.0 MILLION (1) $15.3 MILLION (1) WARRANT PORTFOLIO EQUITY PORTFOLIO DEBT INVESTMENT FAIR VALUE $424.4 Million DEBT INVESTMENT COST BASIS $435.4 Million NUMBER OF OBLIGORS 29 WEIGHTED AVERAGE YIELD ON DEBT INVESTMENTS 16.5% COUPON INCOME 10.7% COST ACCRETION 0.9% WARRANT FAIR VALUE $18.0 Million WARRANT COST BASIS $13.6 Million NUMBER OF WARRANTS 50 NUMBER OF COMPANIES NUMBER OF LOANS 86 END OF TERM PAYMENTS 2.2% 50 PREPAYMENTS 2.7% DIRECT EQUITY FAIR VALUE $15.3 Million DIRECT EQUITY COST BASIS $9.2 Million NUMBER OF INVESTMENTS 16 NUMBER OF COMPANIES 14 (1) Fair value as of March 31, 2019. (2) All data as of March 31, 2019 unless otherwise indicated. (3) For the three months ended March 31, 2019. 21#22Portfolio Overview - Secured, Diversified Lending (1) DIVERSIFIED ACROSS SUBSECTORS OF HIGH GROWTH INDUSTRIES SECURED BY EITHER THE ENTIRE ENTERPRISE OR SPECIFIC ASSETS Consumer Retail, 2% Human Resources/Recruitment, 2% E-Commerce Personal Goods, 3%, Biofuels Biomass, 3%. Buildings and Property, 3%. Consumer Products and Services, 4% Security Services, 4% Wireless Communications Equipment, 1% Other, 2% Financial Institution and Services, 18% Other Financial Services, 4% Real Estate Services, 4% Entertainment, 6% Business to Business Marketplace, 6% E-Commerce - Clothing and Accessories, 7% Business Applications Software, 14% Building Materials/Construction Machinery, 8% Network Systems Management Software, 7% Direct Equity, Warrants, $18.0 million. $15.3 million (1) Figures based on fair value as of March 31, 2019 Debt Investments, $424.4 million 22 22#23Strong Credit Performance and Proactive Monitoring (1) CATEGORY Clear (1) CREDIT RATINGS FAIR VALUE % OF DEBT INVESTMENT # OF PORTFOLIO COMPANIES $81,225 19.1% 69.3% 4 20 9.5% 3 1.6% 1 0.5% 1 100.0% 29 White (2) $293,911 Yellow (3) $40,163 Orange (4) $6,886 Red (5) $2,211 $424,396 Weighted average investment ranking as of March 31, 2019: 1.95 CREDIT RATINGS DEFINITIONS Clear Performing above expectations and/or strong financial or enterprise profile, value or coverage. White Yellow Orange Red Performing at expectations and/or reasonably close to it. Reasonable financial or enterprise profile, value or coverage. Generally all new loans are initially graded White. Performing generally below expectations and/or some proactive concern. Adequate financial or enterprise profile, value or coverage. Needs close attention due to performance materially below expectations, weak financial and/or enterprise profile, concern regarding additional capital or exit equivalent. Serious concern/trouble due to pending or actual default or equivalent. May experience partial and/or full loss. (1) Debt investment figures based on fair value as of March 31, 2019. Dollar amounts in thousands. 23 23#24Portfolio Overview - Debt Investments BlueVine CBNL Clutter ENJOY fabfitfun Cambridge Broadband Networks Growth Capital Loan Growth Capital Loan Growth Capital Loan Growth Capital Loan Growth Capital Loan Growth Capital Loan FORGEROCK Growth Capital Loan MAPR Growth Capital Loan Harvest POWER, INC Health IQ HIRED KNOTEL Growth Capital Loan Growth Capital Loan Growth Capital Loan Growth Capital Loan Mind Candy TI MUNCHERY Growth Capital Loan Growth Capital Loan onesource® VIRTUAL Growth Capital Loan H! Passport Growth Capital Loan Prodigy Finance Growth Capital Loan quantcast Growth Capital Loan ROLI Growth Capital Loan & Revolving Loan upgrade UNTUCKit view Growth Capital Loan Growth Capital Loan Equipment Financing Outdoor Voices Growth Capital Loan SONDER Growth Capital Loan VIRTUAL INSTRUMENTS Growth Capital Loan worldremit. Growth Capital Loan lovepop Equipment Financing OUTFITTERY Growth Capital Loan STANCE > Growth Capital Loan 24 24#25Portfolio Overview - Warrant and Equity Investments AIRSTRIP BlueVine CBNL CAPSULE Cambridge Broadband Networks Casper CROWDSTRIKE ENJOY fabfitfun 0 COHESITY CONVOY factual FARFETCH FinancialForce FORGEROCK GoGreenHost GROVE GOEURO collaborative Health IQ HIRED fuze formerly thinkingphones InMobi INSPIRATO Exceptional Experiences. Extraordinary Value Lattice MAPR Mind Candy onesource OPTORO MEDALLIA KNOTEL VIRTUAL lovepop Outdoor Voices ✓ OUTFITTERY Passport Pluribus NETWORKS Finance R T RetailNext Comprehensive In-Store Analytics Revolut ROLI STANCE > SONDER Prodigy quantcast Qubole quip tech media THRILLIST NETWORK R Otoast upgrade UNTUCKit VARSITY TUTORS view worldremit 25 25#26Financial Highlights As of March 31, 2019#27Financial Highlights PORTFOLIO SIZE * $457.7 $500.0 $433.4 $401.3 $398.4 $372.1 $400.0 $351.3 $33.3 $328.4 $28.1 $311.1 $21.0 $23.2 $20.0 $300.0 $15.4 $253.8 $27.5 $18.4 $200.0 $17.9 $380.3 $405.3 $424.4 $352.1 $375.2 $313.0 $323.8 $292.7 $235.9 $100.0 $0.0 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Debt portfolio I Warrant and equity portfolio Total Portfolio PORTFOLIO YIELD** 22.0% 19.9% 20.0% 18.0% 16.8% 19.3% 18.0% 17.2% 16.5% 16.0% 15.4% 14.0% 13.6% 14.0% 13.9% 14.0% 14.0% 12.0% 13.5% 13.5% 13.6% 13.8% 13.0% 12.5% 10.0% Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Core Yield Weighted Average portfolio yield Dollars in millions ** Portfolio Yield does not include income from expired unfunded commitments 27 27#28* Financial Highlights NII RETURN ON AVERAGE EQUITY (ROAE) AND NII RETURN ON AVERAGE ASSETS (ROAA) 18.0% 16.0% 16.6% 14.8% 14.0% 14.9% 13.6% 12.1% 11.9% 12.0% 10.2% 8.9% 10.0% 8.0% 10.3% 8.0% 6.0% 8.3% 4.0% 9.7% 9.0% 9.4% 8.6% 5.7% 6.0% 5.2% 2.0% 0.0% Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 ROAE (NII/Average Equity) ROAA (NII/Average Assets) LEVERAGE RATIO 0.73X 0.80 0.68X 0.65X 0.70 0.60X 0.60 0.52X 0.47X 0.50 0.40 0.30 0.20 0.10 0.46X 0.29X 0.22X Q1-17 Q2-17* Q3-17 Q4-17 Q1-18 Leverage Ratio at period end Q2-18 Q3-18 Q4-18 Q1-19 Adjusted for paydowns after quarter end: 0.25X 28 28#29Financial Highlights STATEMENT OF OPERATIONS * FINANCIAL HIGHLIGHTS Total investment and other income Total operating expenses Net investment income Net realized and unrealized gains Net increase in net assets resulting from operations Net investment income per share Net increase in net assets per share THREE MONTHS ENDED 3/31/19 THREE MONTHS ENDED 3/31/18 $17,491 $12,619 7,576 6,672 9,915 5,947 1,154 1,996 $11,069 $7,943 $0.40 $0.34 $0.45 $0.45 Net increase in net assets to average net assets 13.3% 13.6% (Return on Equity) ** Net increase in net assets to average total assets (Return on Assets) ** 9.6% 8.0% Net investment income to average net assets (Return on Equity) ** 11.9% 10.2% Net investment income to average total assets (Return on Assets) ** 8.6% 6.0% * In Thousands, except per share data and percentages ** Annualized 29 29#30Financial Highlights STATEMENT OF ASSETS AND LIABILITES * PERIOD ENDED Investments at fair value Short-term investments Cash** Total assets Borrowings 3/31/19 12/31/18 3/31/18 $457,695 $433,417 $401,258 $49,994 $19,999 $124,911 $41,987 $9,949 $18,320 $554,376 $467,054 $549,725 $153,847 $95,943 $169,560 Total liabilities $217,177 $132,523 $313,220 Total net assets $337,199 $334,531 $236,505 Net asset value per share $13.59 $13.50 $13.34 * In Thousands, except per share data **Includes Restricted Cash 30 30#31Overview of Leverage Facility Size: $210 million Lenders: Rate: Structure: Advance Rate: SUMMARY OF REVOLVING CREDIT FACILITY (upsized from $200 million in January 2018) Deutsche Bank AG (Syndication Agent), KeyBank, TIAA Bank and Union Bank (updated in conjunction with facility renewal in January 2018) 1-Month LIBOR or Lender Cost of Funds + 2.8% - 3.0% (depending on credit facility utilization) during revolving period Revolving period ending February 2020 with 18 month amortization period (extended in conjunction with facility renewal in January 2018) 55% of eligible loan balances (subject to minimum 3:2 Asset Coverage ratio and other conditions) SUMMARY OF PUBLIC NOTES (BABY BONDS) Size: $74.8 million Ticker: TPVY (NYSE) Rate: Structure: Issued: Note: 5.75% - Fixed rate - payable quarterly Five year term with a two year non-call provision July 14, 2017 Portion of the proceeds were used to redeem the 6.75% Notes TPVZ (NYSE) in full on August 13, 2017 31#32Research Coverage COMPASS POINT RESEARCH & TRADING, LLC Casey Alexander (646) 452-7083 [email protected] / George Bahamondes (212) 250-1587 [email protected] Janney Mitchel Penn (410) 583-5976 [email protected] KBW A Stifel Company Ryan Lynch (314) 342-2918 [email protected] LADENBURG THALMANN ESTABLISHED 1876 Christopher Nolan (212) 409-2068 [email protected] WELLS FARGO SECURITIES Finian O'Shea, CFA (212) 214-5082 [email protected] T 32#33Investment Highlights Industry Leading Sponsor With Premium Brand, Track Record and Platform Large And Growing Market With High Barriers to Entry H: Differentiated Investment Strategy TRIPLE POINT VENTURE GROWTH Attractive Risk- Adjusted Returns With Equity Upside Potential Experienced Team With Time-Tested Processes Strong Financial Profile With Large Committed Credit Facility 33#34Appendix#35Venture Market VENTURE INVESTMENT BY QUARTER Billions $30.0 1,416 1,450 1,371 $25.0 1,362 1,400 $27.5 $24.9 $20.0 1,302 $24.7 $23.0 1,350 $19.6 $20.3 $21.1 1,300 $15.0 $19.1 1,229 $15.2 1,211 1,250 $10.0 1,279 $5.0 1,233 1,206 1,200 1,150 $0.0 1,100 Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-19 Investment Deals COMMITMENTS BY YEAR 60 $ in Billions 350 295 300 283 300 50 256 235 224 203 40 192 A 30 250 200 $56 150 $41 20 $36 $36 $33 10 $19 $20 $21 100 37 50 $10 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD Venture Capital ($ B) Number of Funds Source: PWC-Money Tree Report, National Venture Capital Association (NVCA) Number of Funds Number of Deals 55 35#36Venture Market VENTURE-BACKED EXITS BY YEAR Number of Deals 900 800 779 726 711 700 600 502 492 482 500 394 372 400 300 200 117 125 81 77 85 50 49 39 58 100 12 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD IPOS M&A Deals EXIT TIMING BY YEAR Years to Exit 98765432 1 8 7 7 7 7 7 6 A 6 A 6 5 6 5 6 6 5 5 5 5 5 4 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD <IPO M&A Source: PWC-Money Tree Report, National Venture Capital Association (NVCA) 36#37H:.