Valar Watch · Fact fund-005

Fact fund-005

newrecordconfirmed SEC filings show Valar's first debt: $5M from two TriplePoint lenders, Nov 2025, repaid or gone by June 2026

2025-11-12 · fund-005 · Valar Atomics, TriplePoint Venture Growth BDC Corp., TriplePoint Private Venture Credit Inc. · TriplePoint Venture Growth growth capital loan (12 Nov 2025): $1,000,000; TriplePoint Private Venture Credit growth capital loan (12 Nov 2025): $4,000,000; SAFEs bought by the two TriplePoint funds (9 Mar 2026: $80,000 + $370,000): $450,000

Two SEC-reporting lenders managed by TriplePoint list Valar Atomics, Inc. in their schedules of investments. TriplePoint Venture Growth BDC Corp. (10-Q for 31 March 2026) holds a $1.0 million 'Growth Capital Loan' made 12 Nov 2025 at the prime rate plus 3.50% with a 10.75% floor and a 3.00% end-of-term payment, maturing 1 Nov 2028 (fair value $984,000), plus a warrant for 4,276 common shares acquired 9 Nov 2025 and a SAFE bought 9 Mar 2026 for $80,000. TriplePoint Private Venture Credit Inc. (10-Q for 30 June 2026) lists, as of 31 Dec 2025, a $4.0 million loan on the same terms and dates, plus a warrant for 17,103 common shares (9 Nov 2025) and a $370,000 SAFE (9 Mar 2026). Together: $5.0 million of loans, warrants on 21,379 shares and $450,000 of SAFEs. In both lenders' 30 June 2026 reports the Valar loans no longer appear among debt investments while the warrants and SAFEs remain; the filings do not say whether Valar prepaid (TriplePoint Venture Growth reports $28.6 million of portfolio-wide prepayments that quarter without naming companies). Neither lender lists an unfunded commitment to Valar. The filings give no share price, so they do not reveal a valuation. These are the only filings found in which a lender reports Valar's debt; the $110 million of debt reported in March 2026 (fund-006) and the August 2026 credit facility (fund-009) do not appear in any filing read.

In plain termsSome lenders are public companies and must list every loan they make. Their reports show Valar borrowed $5 million in November 2025, at an interest rate of at least 10.75% a year plus a 3% fee at the end, and gave the lenders warrants, the right to buy about 21,000 of its shares. By mid-2026 those loans were gone from the lenders' books; they may have been repaid early, but the reports do not say. In March 2026 the same lenders also put $450,000 into 'SAFEs', a common startup contract that turns into shares at a later funding round.

TriplePoint Venture Growth BDC Corp., Form 10-Q for the quarter ended March 31, 2026 (EDGAR accession 0001580345-26-000021), Consolidated Schedules of Investments (TriplePoint Venture Growth BDC Corp. (SEC filing, company investor-relations copy), 2026-05-06) primary filing “Growth Capital Loan (Prime + 3.50% interest rate, 10.75% floor, 3.00% EOT payment)”
TriplePoint Venture Growth BDC Corp., Form 10-Q for the quarter ended June 30, 2026 (EDGAR accession 0001580345-26-000025) (TriplePoint Venture Growth BDC Corp. (SEC filing, company investor-relations copy), 2026-08-05) primary filing
TriplePoint Private Venture Credit Inc., Form 10-Q for the quarter ended June 30, 2026 (accession 0001792509-26-000024; tpvc-20260630.htm read from the filing's EDGAR archive) (TriplePoint Private Venture Credit Inc. (SEC EDGAR), 2026-08-14) primary filing “Growth Capital Loan (Prime + 3.50%, 10.75% floor, 3.00% EOT payment)”
EDGAR full-text search: "Valar Atomics", all forms (31 hits) (U.S. Securities and Exchange Commission) primary filing

verified 2026-09-29: Re-verified 2026-09-29: TPVG 10-Qs (Q1, Q2 2026) re-read as PDF text and TPVC's Q2 2026 10-Q read from the filing's XBRL archive: loans $1.0M and $4.0M (12 Nov 2025, Prime+3.50%, 10.75% floor, 3.00% EOT, due 1 Nov 2028), common-stock warrants 4,276 and 17,103 (9 Nov 2025), SAFEs $80K and $370K (9 Mar 2026); no Valar loan in either 30 June 2026 schedule. Plain softened ('most likely paid off' was not in the filings).

In tabs: funding, timeline · file funding