MVC Capital Monetizes Equity Investment in Folio Financial, Inc.
PURCHASE, N.Y., Oct. 06, 2020 -- MVC Capital, Inc. (NYSE: MVC) ("MVC Capital" or the "Company"), a publicly traded business development company (BDC) that makes private debt and equity investments, announced the closing of the sale of Folio Financial, Inc. to Goldman Sachs.
"With the sale of Folio, MVC Capital has completed the final chapter of exiting the equity investments from the original meVC Draper Fisher Jurvetson Fund," said Michael Tokarz, Chairman and Portfolio Manager of MVC Capital. "Although we've transitioned to a primarily yielding-focused investment platform, we exhibited the patience necessary to extract value from our equity investments."
About MVC Capital, Inc.
MVC Capital (MVC) is a business development company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For additional information about MVC, please visit MVC's website at www.mvccapital.com.
Safe Harbor Statement and Other Disclosures
These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including, among other things: MVC Capital's ability to monetize equity investments; deliver value to shareholders and execute its yield investment strategy; MVC Capital's ability to make additional debt or other yield-generating investments; and changes in economic or financial market conditions and other factors that are enumerated in the Company's periodic filings with the Securities and Exchange Commission. MVC Capital disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release. Past performance is no guarantee of future results.
Jeffrey Goldberger / Allison Soss
KCSA Strategic Communications
212.896.1249 / 212.896.1267