Bear Cave says TriplePoint Venture’s equity may be ‘severely impaired’

In a recently published report, The Bear Cave’s Edwin Dorsey says that TriplePoint Venture is "encumbered by high fees, weak management, and a weaker loan book saddled by portfolio company bankruptcies and upside-down startups." The Bear Cave believes TriplePoint’s equity may be "severely impaired, if it has any value at all." The Bear Cave also thinks TriplePoint’s "net asset value decline will accelerate in the coming quarters" as it may need to take significant write-downs in its loan book. "Two weeks ago, another TriplePoint borrower, telehealth provider The Pill Club, declared bankruptcy… This is no isolated incident. In fact, The Bear Cave has identified ten portfolio companies that appear to be in substantial distress with TriplePoint loans totaling over $170 million," the report further reads. Reference Link