Welcome to our dedicated page for Firsthand Technology Value Fund news (Ticker: SVVC), a resource for investors and traders seeking the latest updates and insights on Firsthand Technology Value Fund stock.
Firsthand Technology Value Fund, Inc. (OTCQB: SVVC) is a publicly traded venture capital fund that invests in technology and cleantech companies, operating as a non-diversified, closed-end investment company that has elected to be treated as a business development company. The Fund regularly issues press releases detailing its financial results, portfolio valuation changes, and other significant developments, which form the core of the news flow associated with SVVC.
News about Firsthand Technology Value Fund frequently covers quarterly and annual financial results, including net asset value (NAV) per share, net assets, and the composition of its portfolio across equity and debt investments, cash and cash equivalents, and other assets. These updates often describe how the Valuation Committee, working with an independent valuation firm and following the Fund’s valuation procedures and ASC 820, has adjusted the fair values of private portfolio companies based on performance, recent transactions, and sector market multiples.
Investors following SVVC news can also see disclosures about fee waiver arrangements with its investment adviser, Firsthand Capital Management, Inc., and how these agreements affect reported management fees and net investment income or loss. In addition, the Fund has announced strategic reviews, such as the engagement of Ladenburg Thalmann & Co. Inc. to evaluate strategic options aimed at increasing stockholder value.
This news page aggregates such announcements, giving readers a centralized view of the Fund’s periodic financial reporting, valuation changes, portfolio developments, and Board-level decisions. For those tracking a venture capital-style fund focused on technology and cleantech companies, SVVC news provides insight into how its portfolio and capital structure evolve over time.
Firsthand Technology Value Fund (NASDAQ: SVVC) announced its 2020 Annual Meeting of Stockholders will be virtual on July 2, 2020, at 2:00 PM Pacific Time, due to COVID-19 health concerns. Stockholders as of March 13, 2020, can attend and vote online using a control number from their proxy card. Those holding shares through intermediaries must register in advance by submitting a legal proxy. The Fund focuses on long-term capital growth by investing primarily in technology and cleantech companies. For more information, visit www.firsthandtvf.com.
Firsthand Technology Value Fund (NASDAQ: SVVC) announced its top five holdings as of May 31, 2020, comprising Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR. The total estimated investments reached approximately $94 million, equating to $13.70 per share, with the top five holdings representing 88.3% of this total. Notably, Pivotal Systems accounted for about 39.1%, while IntraOp Medical and Wrightspeed made up 15.1% and 14.2%, respectively. A detailed financial report will be released in August 2020.
As of April 30, 2020, Firsthand Technology Value Fund (NASDAQ: SVVC) reported its top five holdings, namely Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and SVXR, amounting to 88% of total investments estimated at $91 million, or $13.25 per share. The Fund's largest investment is in Pivotal Systems, representing 40.8% of total investments. The quarterly report, including detailed financial statements, will be available in August 2020. The Fund's investment strategy focuses on long-term capital growth, primarily in technology and cleantech sectors.
Firsthand Technology Value Fund (NASDAQ: SVVC) reported financial results for Q1 2020, highlighting net assets of approximately $79.8 million ($11.58 per share), down from $127.1 million ($17.70 per share) at year-end 2019. The portfolio's value stood at about $77.9 million ($11.30 per share), with cash and equivalents of $0.32 million. The Fund recorded investment income of $772,000 but faced a net realized and unrealized loss of around $45.3 million for the quarter. The Fund aims for long-term capital growth through investments in technology and cleantech sectors.
Firsthand Technology Value Fund (NASDAQ: SVVC) has postponed its 2020 Annual Meeting of Stockholders, originally set for May 13, to July 2 due to local COVID-19 restrictions. The meeting will take place at the San Jose Marriott at 2:00 p.m. PT. The Fund may switch to a completely remote format for the meeting, depending on health guidelines, with details to be announced in advance. The Fund primarily invests in technology and cleantech companies, aiming for long-term capital growth while facing inherent investment risks.
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