Firsthand Technology Value Fund Discloses Preliminary NAV of $12.68 Per Share as of March 31, 2022
As of March 31, 2022, Firsthand Technology Value Fund (NASDAQ: SVVC) reported a preliminary NAV of $12.68. The Fund's top five holdings include Revasum, IntraOp Medical, Wrightspeed, Hera Systems, and Pivotal Systems, constituting 90.4% of its preliminary net assets. Total investments were $82.2 million, or approximately $11.93 per share. The Fund emphasizes investing in technology and cleantech companies, aiming for long-term capital growth. A full quarterly report will be available in May 2022.
- Preliminary NAV of $12.68 reflects stable valuation.
- Top five holdings represent 90.4% of net assets, indicating concentrated investment strategy.
- Total investments of $82.2 million demonstrate significant capital allocation.
- Heavy concentration in top five holdings raises investment risk.
- Potential market volatility could affect NAV and asset valuation.
Top Holdings Include Revasum, IntraOp Medical, Wrightspeed,
Hera Systems, and Pivotal Systems
SAN JOSE, Calif., April 27, 2022 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, disclosed today that its preliminary NAV, as of March 31, 2022, was
| 1. | Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of March 31, 2022, the Fund’s investment in Revasum consisted of 46,105,649 shares of common stock equivalents (CDI’s) and represented approximately |
| 2. | IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver electron-based radiation to cancer patients. As of March 31, 2022, the Fund’s investment in IntraOp consisted of 26,856,187 shares of preferred stock plus debt securities and represented approximately |
| 3. | Wrightspeed, Inc. is a supplier of electric drivetrains for heavy-duty trucks. As of March 31, 2022, the Fund’s investment in Wrightspeed consisted of 60,802,795 shares of preferred and common stock plus debt securities and warrants to purchase additional shares and represented approximately |
| 4. | Hera Systems, Inc. is developing micro satellites with imaging and communication capabilities for launch into low Earth orbit. As of March 31, 2022, the Fund’s investment in Hera consisted of 13,331,527 shares of preferred stock plus debt securities and warrants to purchase additional shares and represented approximately |
| 5. | Pivotal Systems Corp. (ASX: PVS) provides monitoring and process control technologies for the semiconductor manufacturing industry. As of March 31, 2022, the Fund’s investment in Pivotal consisted of 13,897,910 shares of common stock equivalents (CDI’s) and represented approximately |
The Fund’s preliminary net assets as of March 31, 2022, include cash and cash equivalents of approximately
About Firsthand Technology Value Fund
Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund that invests in technology and cleantech companies. More information about the Fund and its holdings can be found online at www.firsthandtvf.com.
The Fund is a non-diversified, closed-end investment company that elected to be treated as a business development company under the Investment Company Act of 1940. The Fund’s investment objective is to seek long-term growth of capital. Under normal circumstances, the Fund will invest at least
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology and cleantech industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained. We acknowledge that, notwithstanding the foregoing, the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 does not apply to investment companies such as us.
Contact:
Phil Mosakowski
Firsthand Capital Management, Inc.
(408) 624-9526
vc@firsthandtvf.com
FAQ
What is the preliminary NAV of SVVC as of March 31, 2022?
Who are the top five holdings of Firsthand Technology Value Fund?
What percentage of SVVC's preliminary net assets are held in its top five holdings?
What are the total investments of Firsthand Technology Value Fund as of March 31, 2022?
When will SVVC's complete financial statements be available?
