Firsthand Technology Value Fund Announces Fiscal Year Financial Results, NAV of $4.44 Per Share

Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, announced today its financial results for the fiscal year ended December 31, 2022.

As of December 31, 2022, the Fund’s net assets were approximately $30.6 million, or $4.44 per share, compared with net assets of approximately $94.8 million, or $13.75 per share as of December 31, 2021. As of December 31, 2022, the Fund’s portfolio included public and private securities valued at approximately $40.1 million, or $5.82 per share, which includes approximately $0.10 per share in cash and cash equivalents.

Portfolio Summary (as of 12/31/22)

Investment		Fair Value1,		Fair Value per Share1,2
Equity/Debt Investments		$39.45 million		$5.72
Cash/Cash Equivalents		$0.67 million		$0.10
Other Assets		$0.08 million		$0.01
Total Assets		$40.20 million		$5.83
Total Liabilities		$9.59 million		$1.39
Net Assets		$30.61 million		$4.44
1 Numbers may not sum due to rounding.
2 Total shares outstanding: 6,893,056.

During the fourth quarter of 2022, the Valuation Committee, which was composed of four 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.