Mike Wilhelms
About Mike Wilhelms
Mike L. Wilhelms (age 55) has served as Chief Financial Officer (CFO) of TriplePoint Venture Growth BDC Corp. (TPVG), the Adviser, TriplePoint Capital LLC (TPC), and TriplePoint Private Venture Credit Inc. since January 2025; he holds a B.A. in Business Economics from the University of California Santa Barbara and is a Certified Public Accountant (CPA, inactive) . TPVG is an externally-managed BDC; executive officers (including the CFO) are not paid directly by TPVG—costs are reimbursed under the Administration Agreement, and Wilhelms is employed by TPC . He signed the FY2024 10-K as Principal Financial and Accounting Officer and provided Sarbanes-Oxley certifications, indicating responsibility for TPVG’s financial reporting controls . Company performance context during his tenure is shown below (revenues), as TPVG does not disclose TSR/EBITDA targets tied to executive pay in proxy materials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sabal Capital Holding Company, LLC (holding co. for Sabal Investment Advisors, LLC) | Chief Financial Officer | Dec 2021–2025 | CFO of SEC-registered IA; institutional debt/equity; prior commercial real estate lending platform sale to Regions Bank in Dec 2021 . |
| Sabal Capital Partners, LLC | Chief Financial Officer | Jan 2020–Dec 2021 | Commercial real estate lending platform; servicing portfolio nearly $5B prior to sale . |
| Crescent Capital Group LP | Finance executive; CFO of Crescent Capital BDC, Inc. | Apr 2015–Dec 2019 | CFO of first public fund (Crescent Capital BDC, Inc.); also CFO of publicly-listed Crescent Acquisition Corp . |
| Triad Financial Corporation | Chief Financial Officer | Not disclosed | CFO role (dates not specified in filings) . |
| KPMG | Audit Manager (Financial Services) | Began 1993 | Financial services audit; foundational technical credentials . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or committee roles disclosed for Wilhelms in DEF 14A or Item 5.02 8-K . |
Fixed Compensation
| Component | Structure | Disclosure Status | Notes |
|---|---|---|---|
| Base Salary | Paid by TriplePoint Capital LLC (employer), not by TPVG | Not disclosed | TPVG reimburses Administrator for allocable overhead incl. CFO compensation; Company does not pay cash compensation or benefits directly to Wilhelms . |
| Target Bonus % | Determined by TPC (if applicable) | Not disclosed | No TPVG disclosure of bonus plan for executive officers . |
| Actual Bonus | Determined by TPC (if applicable) | Not disclosed | No Company-level executive bonus reporting . |
| Benefits | Through TPC | Not disclosed | Company states no direct benefits to Wilhelms; reimburses Administrator costs . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Company-level executive incentive program | — | — | — | — | — |
| Notes: TPVG’s proxy states no direct compensation is paid to executive officers; Compensation Committee reviews the Advisory Agreement annually and Administrator reimbursements (incl. CFO costs), but does not produce executive compensation reports. No stock options or similar awards were granted in FY2024 . |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Total beneficial ownership (shares) | 0 (reported as “—”) as of record date; group holdings across all directors/executives: 584,878 shares (1.46%) . |
| % of shares outstanding | 0% (shares outstanding: 40,137,371 as of record date) . |
| Vested vs. unvested shares | Not disclosed (no executive equity grants disclosed) . |
| Options (exercisable/unexercisable) | None disclosed; Company did not grant options in FY2024 . |
| Pledging/Hedging | Prohibited by Insider Trading Policy absent pre-approval; bans short sales, puts/calls/derivatives, margin/pledging (with narrow pre-approval exception), and hedging/monetization transactions; pre-clearance and blackout windows apply . |
| Ownership guidelines (executives) | Not disclosed in proxy . |
| Section 16 compliance | Company states all Section 16(a) filings timely in 2024 (general disclosure) . |
Employment Terms
| Term | Detail |
|---|---|
| Appointment date | Appointed CFO Dec 13, 2024; effective Jan 6, 2025 . |
| Employer/structure | Employed by TriplePoint Capital LLC; Company reimburses Administrator (TriplePoint Administrator LLC) for allocable overhead including CFO compensation . |
| Contract term/auto-renewal | Not disclosed . |
| Non-compete / Non-solicit | Not disclosed . |
| Garden leave | Not disclosed . |
| Severance provisions | Not disclosed (no Company-level employment agreement terms disclosed) . |
| Change-of-control (trigger/multiples) | Not disclosed . |
| Clawbacks (compensation) | Not disclosed (Insider Trading Policy exists; no comp clawback terms specified) . |
| Indemnification | Company has indemnification agreements with each director and executive officer, to maximum extent under Maryland law and 1940 Act . |
| Insider trading governance | Joint Code of Ethics restricts personal investments in securities held/purchased by TPVG; Insider Trading Policy pre-clearance and blackout requirements . |
Company Performance Context (Revenue)
Annual revenues:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $2,346,000* | $1,825,000 |
Quarterly revenues (oldest → newest):
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues ($USD) | $440,000* | $446,000* | $739,000 | $451,000* |
Values with an asterisk (*) are retrieved from S&P Global.
Performance & Track Record
- CFO certifications: Wilhelms signed TPVG’s FY2024 10-K and provided CEO/CFO certifications regarding disclosure controls and internal control over financial reporting, indicating accountability for financial reporting quality .
- Background highlights: Over 30 years in private credit/finance; CFO roles at Sabal (institutional investment advisers), Crescent Capital BDC and Crescent Acquisition Corp; earlier KPMG audit manager—credentials support BDC finance operations and public reporting rigor .
Board/Compensation Committee Linkages Relevant to CFO
- Compensation Committee responsibilities include annual re-approval of the Advisory Agreement and review of Administrator reimbursements, specifically the allocable portion of the cost of the CFO and CCO and their staffs, aligning Company oversight with externally-managed cost structures .
- Executive officers receive no direct compensation from TPVG; governance is oriented around Adviser/Admin agreements and oversight by independent director-led committees .
Compensation Structure Analysis
- Shift to externally-managed model: Executive cash/equity compensation is not disclosed at Company level; cost reimbursement through Administrator implies reduced direct pay-for-performance transparency at TPVG .
- Equity incentives: No executive equity awards disclosed for FY2024; Company did not grant stock options, limiting direct stock-based alignment for executives at TPVG .
- Insider trading restrictions: Strong prohibitions on hedging/pledging and derivatives reduce misalignment risks and selling pressure; pre-clearance and blackout mechanisms mitigate trading-related event risks .
Investment Implications
- Alignment: With no direct Company-level cash/equity comp and zero reported ownership, Wilhelms’ economic alignment with TPVG stockholders is indirect (via TPC/Adviser structure); watch for any future disclosed ownership changes or equity plans that could strengthen alignment .
- Retention risk: Employment and severance/change-of-control terms are not disclosed; retention depends on TPC’s employment structure and incentives—monitor 8-Ks for any contract updates .
- Trading signals: Insider Trading Policy’s pledging/hedging bans and pre-clearance reduce insider selling pressure; absence of holdings limits Form 4 signals—track any future Form 3/4 filings post-appointment .
- Execution: Credentials in BDC finance and prior public-company CFO roles support financial reporting and controls quality; continued oversight by independent committees on Administrator reimbursements anchors cost discipline under the externally-managed model .
