Firsthand Technology Value Fund Stock Price, News & Analysis

Firsthand Technology Value Fund, Inc. (OTCQB: SVVC), also referred to as Firsthand Technology Value Fund, is a publicly traded venture capital fund that invests in technology and cleantech companies. Classified as a non-diversified, closed-end investment company, it has elected to be treated as a business development company under the Investment Company Act of 1940. The Fund’s stated investment objective is to seek long-term growth of capital by investing its assets in technology-focused businesses.

According to its public disclosures, the Fund intends, under normal circumstances, to invest at least 80% of its total assets for investment purposes in technology and cleantech companies. These investments can include both public and private securities. The Fund’s portfolio has included equity and debt investments, cash and cash equivalents, and other assets, with values determined in line with its valuation procedures and applicable accounting standards.

Business model and investment approach

The Fund operates as a venture capital vehicle whose shares trade on the OTCQB market under the symbol SVVC. Its business model centers on making investments in technology and cleantech companies with the goal of capital appreciation over time. The Fund’s financial results and portfolio composition are reported periodically, and its net assets and net asset value (NAV) per share are key metrics disclosed in its press releases and SEC filings.

A Valuation Committee, composed of independent directors as described in the Fund’s announcements, is responsible for adjusting the fair values of private companies in the portfolio. In doing so, the committee takes into account information from an independent valuation firm and considers factors such as portfolio company performance, recent transactions in the companies’ securities, and the impact of changes in market multiples within relevant sectors. These valuation activities influence reported fair values of equity and debt investments and, ultimately, the Fund’s NAV.

Regulatory status and structure

Firsthand Technology Value Fund is a closed-end investment company that has elected to be treated as a business development company. This structure shapes how it reports to regulators and how it manages its investment activities. As a non-diversified fund, it is not required to spread its investments across a broad range of issuers, which can result in more concentrated exposure to specific portfolio companies or sectors within technology and cleantech.

The Fund files periodic reports and current reports, such as Forms 10-K, 10-Q, and 8-K, with the U.S. Securities and Exchange Commission. For example, an 8-K filing dated November 14, 2025, notes that the Fund issued a press release announcing financial results for the quarter ended September 30, 2025. These filings provide additional detail on the Fund’s operations, portfolio, risks, and financial condition.

Portfolio characteristics and valuation practices

The Fund’s portfolio has included both public and private securities in technology and cleantech companies, along with cash and cash equivalents and other assets. Over multiple reporting periods, the Fund has disclosed portfolio summaries that break out the fair value of equity and debt investments, cash and cash equivalents, other assets, total assets, total liabilities, and net assets. These summaries illustrate how the Fund’s asset mix and leverage can change over time.

Valuations of private holdings are a notable feature of the Fund’s operations. The Valuation Committee applies the Fund’s valuation procedures and follows ASC 820 guidance, incorporating input from an independent valuation firm. Factors considered include the operating performance of portfolio companies, recent transactions in their securities, and sector-specific market multiples. Adjustments to these fair values can have a significant effect on reported net assets and NAV per share.

Risk profile and disclosures

The Fund has repeatedly stated that an investment in its shares involves substantial risks and that past investment results do not provide assurances about future results. Its public communications direct investors to the Fund’s filings for more information about fees, expenses, and risk. These risk disclosures are an important part of understanding the Fund’s profile as a venture capital-oriented, non-diversified, closed-end investment company focused on technology and cleantech.

The Fund’s financial results over various periods have included investment income, net investment income or loss after fees and expenses, and net realized and unrealized gains or losses on investments. In some periods, the Fund has reported fee waiver agreements with its investment adviser, Firsthand Capital Management, Inc., affecting the level of management fees recognized and contributing to net investment income figures. These arrangements, as described in the Fund’s announcements, are subject to the terms of the applicable fee waiver agreements and investment management agreement.

Strategic review and capital markets context

In a Board announcement, the Fund reported that its Board of Directors engaged Ladenburg Thalmann & Co. Inc. to evaluate strategic options for the Fund, with the stated goal of increasing stockholder value. The Fund indicated that there could be no assurance that this exploration of strategic alternatives would result in any transaction and that it did not intend to provide further updates on the process unless a specific course of action was identified and approved. This highlights that the Fund has, at times, considered potential changes to its structure or operations in response to its circumstances.

Shares of the Fund trade on the OTCQB market, and its reported net asset value per share has changed over time as portfolio values, liabilities, and fee arrangements have evolved. The Fund’s communications emphasize that more detailed and updated information is available in its public filings and on its own information channels.

Sector and focus areas

Firsthand Technology Value Fund’s focus on technology and cleantech companies places it within the broader finance and insurance sector, with a more specific alignment to venture capital-style investing in those industries. The Fund’s disclosures describe its intent to allocate the majority of its assets to these areas under normal circumstances, reflecting a specialized mandate rather than a broadly diversified investment strategy across unrelated sectors.

Key characteristics summarized

• Type of entity: Non-diversified, closed-end investment company.
• Regulatory election: Elected to be treated as a business development company under the Investment Company Act of 1940.
• Trading venue and symbol: Shares trade on the OTCQB market under the symbol SVVC.
• Investment focus: Technology and cleantech companies, through public and private securities.
• Stated objective: Seek long-term growth of capital.
• Valuation oversight: Valuation Committee, including independent directors, working with an independent valuation firm and applying ASC 820 and the Fund’s valuation procedures.
• Risk disclosure: The Fund notes that investments involve substantial risks and that past results do not assure future outcomes.

FAQs about Firsthand Technology Value Fund (SVVC)

• What is Firsthand Technology Value Fund’s primary investment objective?
  The Fund states that its investment objective is to seek long-term growth of capital. Under normal circumstances, it intends to invest at least 80% of its total assets for investment purposes in technology and cleantech companies.
• How is Firsthand Technology Value Fund structured?
  It is a non-diversified, closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. This structure influences its regulatory reporting and investment activities.
• What types of companies does SVVC invest in?
  According to the Fund’s disclosures, it invests in technology and cleantech companies, using both public and private securities as part of its portfolio.
• Where does SVVC trade?
  Shares of Firsthand Technology Value Fund trade on the OTCQB market under the ticker symbol SVVC.
• How are the Fund’s private investments valued?
  The Fund describes a process in which a Valuation Committee, including independent directors, adjusts the fair values of private companies in the portfolio. The committee uses information from an independent valuation firm and considers factors such as portfolio company performance, recent transactions in their securities, and changes in market multiples within certain sectors, consistent with the Fund’s valuation procedures and ASC 820.
• What role does the Valuation Committee play?
  The Valuation Committee oversees the determination and adjustment of fair values for private portfolio holdings. Its work, based on the Fund’s valuation procedures and external valuation input, directly affects reported fair values, net assets, and NAV per share.
• Has the Fund considered strategic alternatives?
  The Fund has disclosed that its Board of Directors engaged Ladenburg Thalmann & Co. Inc. to evaluate strategic options with the goal of increasing stockholder value. The Fund also stated that there was no assurance this process would lead to a transaction and that further disclosures would be made only if a specific course of action were identified and approved.
• What risks does the Fund highlight for investors?
  In its public communications, the Fund notes that an investment in its shares involves substantial risks and that past investment results do not provide assurances about future results. It directs investors to its public filings for more detail on fees, expenses, and risk factors.
• How does SVVC generate investment income?
  The Fund’s financial reports reference total investment income and net investment income or loss after fees and expenses. While specific amounts vary by period, these figures arise from the performance of its investment portfolio, including public and private securities, and are detailed in its periodic financial disclosures.
• Where can investors find more detailed information about SVVC?
  The Fund points investors to its public SEC filings for comprehensive information about its holdings, fees, expenses, and risks. It also references its own information channels for additional details on the Fund and its portfolio.