Firsthand Technology Value Fund Discloses Top Portfolio Holdings
Firsthand Technology Value Fund (NASDAQ: SVVC) reported its top five investments as of August 31, 2022, totaling approximately $47 million, or $6.82 per share. These holdings, which include IntraOp Medical Corp., Wrightspeed, Hera Systems, Revasum, and EQX Capital, account for 93.7% of its total investments. IntraOp Medical represents 34.8%, while Wrightspeed follows closely at 34.1%. A detailed financial report will be released in November 2022, outlining performance metrics and changes since June 30, 2022.
- Top five holdings account for 93.7% of total investments.
- Total estimated investments of approximately $47 million, equating to $6.82 per share.
- None.
SAN JOSE, Calif., Sept. 23, 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 top five holdings as of August 31, 2022, were IntraOp Medical, Wrightspeed, Hera Systems, Revasum, and EQX Capital.
| 1. | IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver intra-operative radiation to cancer patients. As of August 31, 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 commercial vehicles. As of August 31, 2022, the Fund’s investment in Wrightspeed consisted of preferred 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 August 31, 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 August 31, 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 August 31, 2022, the Fund’s investment in EQX consisted of preferred and common stock and represented approximately |
The Fund also announced that as of August 31, 2022, the estimated total investments* of the Fund were approximately
*Total investments are estimated as of August 31, 2022, and represent the value of the Fund’s total investments as of June 30, 2022, plus the estimated net change in unrealized appreciation/depreciation and actual realized gains/losses on publicly traded and private securities since June 30, 2022. For the purposes of calculating the percentage of estimated total investments represented by each investment, the value of each holding is determined by either: (1) the purchase price, (2) the market value for public securities, less any discounts taken due to restrictions on the stock, or (3) the June 30, 2022, fair value of each security, as determined under procedures approved by our Board of Directors. The estimated total investments figure does not reflect net asset value because actual and estimated liabilities (such as estimated tax liabilities and performance fees, accrued vendor service fees and other liabilities) are not deducted.
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 are the top holdings of Firsthand Technology Value Fund (SVVC) as of August 31, 2022?
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