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TriplePoint Venture Growth BDC Corp. Announces Two Additions to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
TriplePoint Venture Growth BDC Corp. (TPVG) announced the appointment of Katherine Park and Kimberley Vogel to its board of directors, effective December 17, 2021. This expansion brings the board to 8 members, with 6 being independent. The CEO, Jim Labe, expressed enthusiasm about the new members joining at a time of strong demand for venture growth stage company financing. Both appointees have extensive backgrounds in finance and investment management, aiming to enhance the company's strategic direction and capitalize on the robust venture capital market.
Positive
Appointment of two experienced board members expected to strengthen leadership.
Katherine Park and Kimberley Vogel bring over 45 years combined experience in finance and investment management.
Board expansion may lead to improved strategic direction and enhanced capital opportunities.
Negative
Potential concerns regarding continuity and experience gaps as new directors integrate into the board.
MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced that Katherine Park and Kimberley Vogel have each been appointed to the Company’s board of directors, effective December 17, 2021. The Board now includes 8 directors, 6 of whom are independent.
“We are pleased to welcome Kathy and Kim to our board of directors at such an exciting time for our company,” said Jim Labe, chairman and chief executive officer of TPVG. “We look forward to collaborating with them and the entire board heading into 2022 as we capitalize on the robust venture capital market and strong demand for our debt financing from venture growth stage companies.”
Katherine Park
Kathy has over 20 years of debt and equity advisory experience, working with alternative investment managers and public and private companies ranging from early-stage to complex global institutions. She spent 18 years with Goldman Sachs, where she launched and led the U.S. fund and private capital raising businesses for the firm’s investment banking and securities divisions. Kathy is currently head of business development at Pagaya Investments, where she is responsible for overseeing business development for the investment management platform. She was previously Head of Business Development at Grafine Partners, where she was responsible for sourcing, evaluating and executing deals, attracting new capital partners, and setting the strategy for the firm. She also brings prior experience in strategy consulting at Bain & Company and in brand management at L’Oréal. Kathy received her M.B.A. from Harvard Business School and graduated from Harvard College.
Kimberley Vogel
Kim has over 25 years of executive leadership, financial management, and entrepreneurial experience working with growth companies across all stages of development, including exit events. She has extensive experience in the banking, financial services and alternative investment industries, and has served as president, chief financial officer and director of both public and private companies. Kim’s experience includes leadership roles at financial services and technology companies such as BaseVenture Investing, Inc., mFoundry Inc. and Fidelity National Information Services. She also brings experience in equity research with Banc of America Securities and auditing with Sutter Health Systems and KPMG. Kim currently serves on the board of TriCo Bancshares and Tri Counties Bank. Kim received her M.B.A. from Harvard Business School and graduated from Saint Mary’s College.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
TriplePoint Venture Growth BDC Corp. is an externally-managed business development company focused on providing customized debt financing with warrants and direct equity investments to venture growth stage companies in technology and other high growth industries backed by a select group of venture capital firms. The Company’s sponsor, TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries at every stage of their development with unparalleled levels of creativity, flexibility and service. For more information about TriplePoint Venture Growth BDC Corp., visit https://www.tpvg.com. For more information about TriplePoint Capital, visit https://www.triplepointcapital.com.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC. The Company undertakes no duty to update any forward-looking statements made herein, which speak only as of the date hereof.
Who are the new board members appointed to TriplePoint Venture Growth BDC Corp.?
The new board members are Katherine Park and Kimberley Vogel, appointed effective December 17, 2021.
What experience do Katherine Park and Kimberley Vogel bring to TPVG?
Katherine Park has over 20 years in debt and equity advisory, while Kimberley Vogel has over 25 years in executive leadership and financial management.
What is the significance of the board expansion at TPVG?
The board expansion is expected to enhance strategic direction and capitalize on strong demand for debt financing from venture growth stage companies.
How many directors does TriplePoint Venture Growth BDC Corp. have after the new appointments?
After the appointments, TPVG's board now consists of 8 directors, 6 of whom are independent.
