StockNews.AI
SVVC
StockNews.AI
146 days

Firsthand Technology Value Fund Announces Fiscal Year Financial Results, NAV of $0.15 Per Share

1. SVVC's net assets fell to $1.1 million per share by year-end 2024. 2. Total investment income was approximately $110,000, with a significant loss of $2.1 million. 3. The Fund's cash reserves viable at $0.11 per share amid valuation adjustments. 4. Efforts continue to manage the portfolio and find exit opportunities. 5. The Fund's investment focus remains on technology and cleantech companies.

Earnings
0%Current Return
VS
-0.28%S&P 500
$0.0503/26 04:21 PM EDTEvent Start
$0.0503/27 10:45 PM EDTLatest Updated
6m saved
Insight
Article

FAQ

Why Bearish?

The significant loss of $2.1 million and reduced net assets are concerning. Similar past occurrences, like during economic downturns, led to prolonged low performance in venture funds.

How important is it?

The reported losses directly influence SVVC’s current financial health and market perception. Potential investors may be deterred due to these figures, impacting share price.

Why Short Term?

The immediate drop in net assets and losses will likely affect investor sentiment. Short-term trading reactions can lead to increased volatility once the market assesses this news.

Related Companies

NVCABDCVCT
SAN JOSE, Calif., March 26, 2025 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (OTCQB: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, announced today its financial results for the year ended December 31, 2024. As of December 31, 2024, the Fund’s net assets were approximately $1.1 million, or $0.15 per share, compared with net assets of approximately $1.5 million, or $0.22 per share as of September 30, 2024. As of December 31, 2024, the Fund’s portfolio included public and private securities valued at approximately $1.1 million, or $0.15 per share, which includes approximately $0.11 per share in cash and cash equivalents. Portfolio Summary (as of 12/31/24) Investment Fair Value1,Fair Value per Share1,2Equity/Debt Investments$0.32 million $0.05Cash/Cash Equivalents$0.75 million $0.11Other Assets$0.74 million $0.11Total Assets$1.80 million $0.26Total Liabilities$0.73 million $0.11Net Assets$1.06 million $0.15      1 Numbers may not sum due to rounding. 2 Total shares outstanding: 6,893,056.  During the fourth quarter of 2024, the Valuation Committee, which was composed of two independent directors, adjusted the fair values of the private companies in our portfolio. In arriving at these determinations and consistent with the Fund’s valuation procedures, and ASC 820, the Valuation Committee took into account information from an independent valuation firm and considered many factors, including the performance of the portfolio companies, recent transactions in the companies’ securities, as well as the impact of changes in market multiples within certain sectors. For the year ended December 31, 2024, the Fund reported total investment income of approximately $110 thousand. After fees and expenses, the Fund reported net investment income of approximately $2.0 million, due to the waiving of certain accrued management fees during the year. The Fund reported net realized and unrealized losses on investments of approximately $2.1 million for the year. Throughout the year, the Fund continued its efforts to manage its portfolio prudently, including working with its portfolio companies and their management teams to seek to enhance performance and uncover potential exit opportunities. 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 80% of its total assets for investment purposes in technology and cleantech companies. An investment in the Fund involves substantial risks, some of which are highlighted below. Please see the Fund’s public filings for more information about fees, expenses and risk. Past investment results do not provide any assurances about future results. 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

Related News