Firsthand Technology Value Fund Discloses Preliminary NAV of $5.58 Per Share as of September 30, 2022
Firsthand Technology Value Fund (NASDAQ: SVVC) announced its preliminary NAV of $5.58 as of September 30, 2022. The Fund's top five holdings included IntraOp Medical (54.0% of net assets), Wrightspeed (31.1%), Hera Systems (19.0%), Revasum (7.9%), and EQX Capital (3.1%). Total investments were reported at $46.6 million, or $6.76 per share. Notably, these top holdings made up 115.1% of the Fund’s preliminary net assets. The complete financial statements will be available in the upcoming quarterly report due in November 2022.
- Preliminary NAV of $5.58 per share indicates potential growth.
- Top five holdings constitute 115.1% of the Fund's net assets, showcasing strong investment focus.
- Diverse investments in technology and cleantech sectors demonstrate strategic portfolio management.
- Preliminary net assets exceeding 100% indicates potential valuation concerns.
- High concentration in top holdings may increase risk exposure for investors.
Top Holdings Include IntraOp Medical, Wrightspeed, Hera Systems, Revasum, and EQX Capital
SAN JOSE, Calif., Oct. 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 September 30, 2022, was
| 1. | 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 September 30, 2022, the Fund’s investment in IntraOp consisted of preferred stock plus debt securities and represented approximately |
| 2. | Wrightspeed, Inc. is a supplier of electric drivetrains for heavy-duty trucks. As of September 30, 2022, the Fund’s investment in Wrightspeed consisted of preferred and common stock plus debt securities and warrants to purchase additional shares and represented approximately |
| 3. | Hera Systems, Inc. is developing micro satellites with imaging and communication capabilities for launch into low Earth orbit. As of September 30, 2022, the Fund’s investment in Hera consisted of preferred stock plus debt securities and warrants to purchase additional shares and represented approximately |
| 4. | Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of September 30, 2022, the Fund’s investment in Revasum consisted of common stock equivalents (CDI’s) and represented approximately |
| 5. | EQX Capital, Inc. provides equipment financing solutions to technology companies and their customers. As of September 30, 2022, the Fund’s investment in EQX consisted of preferred and common stock and represented approximately |
The Fund’s preliminary net assets as of September 30, 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 for Firsthand Technology Value Fund (SVVC) as of September 30, 2022?
Who are the top holdings of Firsthand Technology Value Fund (SVVC)?
What percentage of net assets does IntraOp Medical represent in SVVC?
When will the complete financial statements for SVVC be available?
What amount of total investments does Firsthand Technology Value Fund (SVVC) report as of September 30, 2022?
