TriplePoint Venture Growth BDC Corp., 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 Cynthia M. Fornelli has been appointed to serve as a member of the Company’s Board of Directors, effective December 27, 2019. The Board now comprises six directors, four of whom are independent. Ms. Fornelli will also serve on each of the Board’s four standing committees: the Audit Committee, the Valuation Committee, the Compensation Committee and the Nominating and Corporate Governance Committee.
Ms. Fornelli, the former Executive Director of the Center for Audit Quality, is a nationally recognized business leader known for her leadership experience in strategy formulation, corporate governance and risk management. In 2007, Ms. Fornelli launched the Center for Audit Quality (CAQ) and was its first employee and Executive Director. Under Ms. Fornelli’s leadership, the CAQ grew to a 30-member team dedicated to enhancing investor confidence and public trust in the global capital markets. Prior to launching the CAQ, Ms. Fornelli served as Senior Vice President of Regulatory and Conflicts Management at Bank of America, as well as Deputy Director of the Division of Investment Management at the U.S. Securities and Exchange Commission. Ms. Fornelli received her Bachelor of Arts degree from Purdue University and her Juris Doctor from The George Washington University.
“On behalf of the entire Board of Directors, I am pleased to welcome Cindy to the TriplePoint team,” said Jim Labe, Chief Executive Officer and Chairman of the Board. “With Cindy’s appointment, we have bolstered the existing strength of the board composition and added valuable insight and perspective in the areas of compliance, corporate governance and SEC regulatory matters.”
Ms. Fornelli said, “TriplePoint Venture Growth has an exceptional track record, and I’m excited to be appointed as an independent director. I look forward to working closely with the other directors and management team.”
The Company was formed to expand the venture growth stage business segment of TriplePoint Capital LLC, the leading global provider of financing across all stages of development to technology, life sciences and other high growth companies backed by a select group of venture capital firms. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by lending primarily with warrants to venture growth stage companies.
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