Firsthand Technology Value Fund Discloses Preliminary NAV of $14.82 Per Share as of December 31, 2020

Top Holdings Include IntraOp Medical, Wrightspeed, Pivotal Systems, Revasum, and SVXR

SAN JOSE, Calif., Jan. 25, 2021 (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 preliminary NAV, as of December 31, 2020, was $14.82. The Fund further announced that its top five holdings as of December 31, 2020, were IntraOp Medical, Wrightspeed, Pivotal Systems, Revasum, and SVXR.

1.	IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical device that is used to deliver electron-based radiation to cancer patients. As of December 31, 2020, the Fund’s investment in IntraOp consisted of 26,856,187 shares of preferred stock plus debt securities and represented approximately 25.8% of the Fund’s preliminary net assets.
2.	Wrightspeed, Inc. is a supplier of electric drivetrains for heavy-duty trucks. As of December 31, 2020, the Fund’s investment in Wrightspeed consisted of 60,802,795 shares of preferred and common stock plus debt securities and warrants to purchase additional shares and represented approximately 23.1% of the Fund’s preliminary net assets.
3.	Pivotal Systems Corp. (ASX: PVS) provides monitoring and process control technologies for the semiconductor manufacturing industry. As of December 31, 2020, the Fund’s investment in Pivotal consisted of 31,089,506 shares of common stock equivalents (CDI’s) and represented approximately 22.1% of the Fund’s preliminary net assets.
4.	Revasum, Inc. (ASX: RVS) is a provider of chemical-mechanical planarization (CMP) and grinding tools to the semiconductor industry. As of December 31, 2020, the Fund’s investment in Revasum consisted of 46,834,340 shares of common stock equivalents (CDI’s) and represented approximately 12.4% of the Fund’s preliminary net assets.
5.	SVXR, Inc. is a manufacturer of automated X-ray inspection tools for the semiconductor and microelectronics industries. As of December 31, 2020, the Fund’s investment in SVXR consisted of 8,219,454 shares of preferred stock and represented approximately 5.3% of the Fund’s preliminary net assets.

The Fund’s preliminary net assets as of December 31, 2020, include cash and cash equivalents of approximately $0.34 per share. Preliminary total investments as of December 31, 2020 were $99.7 million, or approximately $14.46 per share. As of December 31, 2020, the Fund’s top five holdings constituted 88.7% of the Fund’s preliminary net assets, and 88.7% of our preliminary total investments. The Fund’s NAV for December 31, 2020, as well as complete financial statements and a detailed schedule of investments, will be made available with the Fund’s annual report filing on Form 10-K in March 2021.