SAN JOSE, Calif., Aug. 29, 2022 (GLOBE NEWSWIRE) — Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”) is a publicly traded venture capital fund that invests in technology and cleantech companies. today announced that its top five holdings as of July 31, 2022 are IntraOp Medical, Wrightspeed, Revasum, Hera Systems, and EQX Capital.
- IntraOp Medical Corp. is the manufacturer of Mobetron, a medical device used to deliver radiation to cancer patients during surgery. As of July 31, 2022, the Fund’s investments in IntraOp consist of preferred stock and bonds, representing approximately 32.6% of the Fund’s estimated total investments.
- Lightspeed Co., Ltd. is a supplier of electric drivetrains for heavy commercial vehicles. As of July 31, 2022, the Fund’s investments in Lightspeed consist of preferred stock and bonds, representing approximately 31.4% of the Fund’s estimated total investments.
- Revasum, Inc. (ASX: RVS) provides chemical mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of July 31, 2022, the Fund’s investments in Revasum consist of Common Equity Equivalents (CDI), representing approximately 15.8% of the Fund’s estimated total investment.
- Hera Systems Co., Ltd. develops microsatellites with image processing and communication capabilities for launch into low earth orbit. As of July 31, 2022, the Fund’s investment in Hera consists of preferred stock, debt securities and warrants to purchase additional shares, representing approximately 11.2% of the Fund’s estimated total investment. I’m here.
- EQX Capital Co., Ltd. We provide equipment financing solutions to technology companies and their customers. As of July 31, 2022, the Fund’s investment in EQX consists of preferred and common shares, representing approximately 2.3% of the Fund’s estimated total investment. *
The Fund also notes that as of July 31, 2022, the Fund’s estimated total investments* were approximately $50.2 million, or $7.28 per share, including cash and cash equivalents of approximately $0.23 per share. Announced. As of that date, the Fund’s top five holdings accounted for 93.2% of the Fund’s estimated total investment. November 2022 Q.
*Total investments are estimates as of July 31, 2022 and include the Fund’s total investments as of June 30, 2022 plus the estimated net change in unrealized valuation/depreciation and listed and non-listed securities. Plus actual realized gains/losses on publicly traded securities. From June 30, 2022. For the purposes of calculating the percentage of the estimated total investment each investment represents, the value of each holding is determined by either: (1) purchase price; (2) market value of publicly traded securities, discounted by equity restrictions; or (3) fair value of each security as of June 30, 2022. Determined in accordance with procedures approved by the Company’s Board of Directors. Estimated total investment does not reflect net asset value. This is because actual and estimated liabilities (such as estimated tax liabilities and performance fees, unpaid 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 is available online. www.firsthandtvf.com.
The Fund is a non-diversified, closed-end investment company that has elected to be treated as a business development company under the Investment Companies Act of 1940. The Fund’s investment objective is to seek the long-term growth of capital. Under normal circumstances, the Fund will invest at least 80% of its total assets in technology and cleantech companies. Investing in the Fund involves substantial risks, some of which are listed below. Unlike most business development companies, funds are taxed as corporations and not as regulated investment companies under federal tax law based on their asset composition. Please see the Fund’s public documentation for further details regarding fees, costs and risks. Past investment results are no guarantee of future results.
Cautionary Note Regarding Forward-Looking Statements: This press release contains “forward-looking statements” as defined under the United States federal securities laws. In general, “believe,” “expect,” “intend,” “estimate,” “predict,” “anticipate,” “will,” and similar expressions are generally of a historical nature. Identifies forward-looking statements that are not forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that may cause actual results to differ materially from the Fund’s past experience and current expectations or projections expressed in forward-looking statements. There is a nature. These risks include changes in economic and political conditions, regulatory and legal changes, technology and cleantech industry risks, valuation risks, dediversification risks, interest rate risks, tax risks, and fund policies as described. including, but not limited to, other risks identified. SEC filings. 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 contained herein. There is no assurance that the Fund’s investment objective will be achieved. Notwithstanding the foregoing, we recognize that the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 does not apply to investment companies such as ours.
Firsthand Capital Management, Inc.