Firsthand Technology Value Fund Discloses Top Portfolio Holdings

SAN JOSE, Calif., March 25, 2020 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, disclosed today that its top five holdings as of February 29, 2020, were Pivotal Systems, IntraOp Medical, Wrightspeed, Revasum, and Hera Systems.

1.	Pivotal Systems Corp. (ASX: PVS) provides monitoring and process control technologies for the semiconductor manufacturing industry. As of February 29, 2020, the Fund’s investment in Pivotal consisted of 45,090,506 shares of restricted and unrestricted common stock and common stock equivalents and represented approximately 36.1% of the Fund’s estimated total investments.*
2.	IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver intra-operative radiation to cancer patients. As of February 29, 2020, the Fund’s investment in IntraOp consisted of 26,856,187 shares of preferred stock plus debt securities and represented approximately 17.0% of the Fund’s estimated total investments.*
3.	Wrightspeed, Inc. is a supplier of electric drivetrains for medium-duty trucks. As of February 29, 2020, the Fund’s investment in Wrightspeed consisted of 53,625,097 shares of preferred and common stock plus debt securities and warrants to purchase additional shares, and represented approximately 14.5% of the Fund’s estimated total investments.*
4.	Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of February 29, 2020, the Fund’s investment in Revasum consisted of 46,834,340 shares of restricted and unrestricted common stock and common stock equivalents and represented approximately 14.2% of the Fund’s estimated total investments.*
5.	Hera Systems, Inc. is developing a constellation of micro-satellites that will deliver high-revisit, high-resolution imagery. As of February 29, 2020, the Fund’s investment in Hera consisted of 13,331,527 shares of preferred stock plus debt securities and warrants to purchase additional shares and represented approximately 6.8% of the Fund’s estimated total investments.*

The Fund also announced that as of February 29, 2020, the estimated total investments* of the Fund were approximately $118 million, or $17.06 per share, including cash and cash equivalents of approximately $0.24 per share. As of that date, the Fund’s top five holdings constituted 88.6% of the Fund’s estimated total investments*. Complete financial statements and a detailed schedule of investments as of March 31, 2020, will be available in the Fund’s quarterly report filing on Form 10-Q in May, 2020.