Firsthand Technology Value Fund Financial Overview
Firsthand Technology Value Fund, Inc. (OTCQB: SVVC) has recently unveiled its financial results, painting a detailed picture of its fiscal health. This publicly traded venture capital fund, focused on technology and cleantech investments, saw its net assets reach approximately $1.1 million, translating to $0.15 per share by year-end.
Year-End Positioning and Asset Breakdown
According to the financial report, the fund's assets have seen a notable change compared to the previous quarter. As of the end of the year, the fund's assets consisted primarily of cash, investments, and other assets, reflecting prudent management amid fluctuating market conditions.
Investment Portfolio Valuation
The Fund's portfolio at year-end comprised both public and private securities, valued at about $1.1 million, including estimated cash and cash equivalents amounting to around $0.11 per share. Regular assessments by an independent valuation team support these valuations, taking into account market performance and individual company metrics.
Income and Expense Analysis
For the year, the fund reported total investment income of approximately $110 thousand. The figures were positively impacted by the waiving of certain management fees, leading to a notable net investment income of around $2.0 million. However, this was offset by overall net realized and unrealized losses of roughly $2.1 million on investments for the year.
Strategic Asset Management Initiatives
Throughout 2024, the Fund maintained a proactive approach to manage its assets. This involved collaborating closely with the management teams of portfolio companies, aiming to enhance their performance and explore potential exit strategies. The focus remained on optimizing returns while mitigating risks inherent in market volatility.
About Firsthand Technology Value Fund
Firsthand Technology Value Fund, Inc. operates as a non-diversified, closed-end investment company, committed to long-term capital growth. The Fund prioritizes investment in technology and cleantech sectors, ensuring at least 80% of its total assets are invested within these domains. More details about their strategies can be found on their official website.
The firm recognizes the substantial risks associated with such investments, which can affect the potential for returns. Consequently, investors are encouraged to review the Fund's public filings for comprehensive information on fees, risks, and investment strategies.
Contact details for further inquiries are provided below:
Phil Mosakowski
Firsthand Capital Management, Inc.
(408) 624-9526
vc@firsthandtvf.com
Frequently Asked Questions
What is Firsthand Technology Value Fund?
Firsthand Technology Value Fund is a publicly traded venture capital fund that invests in technology and cleantech companies.
What were the net asset values at year-end 2024?
As of December 31, 2024, the Fund's net assets were approximately $1.1 million or $0.15 per share.
How did the Fund perform financially in 2024?
The Fund reported total investment income of around $110,000, with a net investment income of approximately $2.0 million, despite experiencing net losses of about $2.1 million.
What is the investment objective of the Fund?
The investment objective is to seek long-term capital growth, primarily through investments in technology and cleantech companies.
Who can I contact for more information about the Fund?
For inquiries, you can contact Phil Mosakowski at Firsthand Capital Management, Inc. at (408) 624-9526 or via email at vc@firsthandtvf.com.
