SVVC($11.47) still trading @ less than half NAV/share of $23.41
On November 13, 2017, the Fund announced a plan to repurchase up to $2 million worth of SVVC stock in the open market by March 30, 2018. Through the end of January 2018, we had repurchased and retired 128,551 shares of stock at a total cost of approximately $1.1 million. As of January 31, 2018, the Fund had 7,302,146 shares outstanding.
The Fund also announced that as of January 31, 2018, estimated net assets of the Fund were approximately $171 million, or $23.41 per share, including cash and cash equivalents of approximately $0.32 per share. As of that date, the Fund's top five holdings constituted 62.9% of the Fund's estimated net assets.* Complete financial statements and a detailed schedule of investments as of December 31, 2017, will be available in the Fund's annual report filing on Form 10-K in March.
*Estimated net assets as of January 31, 2018, represent net assets of approximately $174 million as of December 31, 2017, plus the net change in unrealized appreciation/depreciation and realized gains/losses on publicly traded and private securities since December 31, 2017. For the purposes of calculating the percentage of net assets represented by each investment, the value of each holding is determined by the most recent of: (1) the purchase price, (2) the market value for public securities, less any discounts taken due to restrictions on the stock, or (3) the December 31, 2017, fair value of each security, as determined under procedures approved by our Board of Directors.
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.