Firsthand Technology Value Fund, Inc.: management transactions · United States · SEC (Form 4)

About Firsthand Technology Value Fund, Inc.

Firsthand Technology Value Fund, Inc. is a U.S.-listed business development company (BDC) focused on venture-style exposure to technology and cleantech businesses. The company is organized as a Maryland corporation and, based on current public disclosures, its shares are quoted on the OTCQB under the symbol SVVC; historically, it has been followed by market participants as a U.S. technology investment vehicle linked to the broader NASDAQ/NYSE ecosystem. Its headquarters are in San Jose, California, placing it in the center of Silicon Valley and reinforcing its identity as an innovation-focused capital provider in the United States. ([firsthandtvf.com](https://firsthandtvf.com/index.php?fuseaction=about.main)) Unlike an operating software or hardware company, Firsthand’s business model is that of a public venture fund. It provides venture funding and working capital to private technology and cleantech companies, primarily through equity investments, with the goal of realizing value through successful exits, typically via IPOs or acquisitions. The fund states that it invests across multiple stages of company maturity and, under normal circumstances, allocates at least 80% of total assets to technology and cleantech investments. Historically, the fund has highlighted exits including Facebook, Twitter, SolarCity, Yelp and Roku, which underscores its long-standing role as an early-stage financier of prominent U.S. tech names. ([firsthandtvf.com](https://firsthandtvf.com/index.php?fuseaction=about.main)) From a competitive standpoint, SVVC’s key differentiator is its publicly traded structure. Investors can access a listed vehicle for private-market technology exposure, with daily liquidity that traditional venture funds do not provide. That advantage comes with meaningful trade-offs: net asset value can be highly sensitive to valuation marks on illiquid holdings and to broader risk appetite in small-cap and venture markets. The company’s recent disclosures indicate a very small asset base, with net assets of about $0.75 million, or $0.11 per share, as of June 30, 2025, highlighting the micro-cap nature of the opportunity set. ([firsthandtvf.com](https://firsthandtvf.com/docs/press_081425.pdf)) The fund is externally managed by Firsthand Capital Management, Inc., led by Kevin Landis, a technology and cleantech investor with more than 30 years of experience. Firsthand says its team has been responsible for more than $300 million of investments in over 40 private companies since 1998. Geographically, the firm is overwhelmingly U.S.-centric, with operations and portfolio sourcing anchored in California and the broader West Coast innovation corridor. ([firsthandtvf.com](https://firsthandtvf.com/index.php?fuseaction=about.main)) Recent developments remain centered on portfolio valuation and quarterly NAV updates rather than large-scale expansion. On November 14, 2025, the company reported third-quarter 2025 financial results and a NAV of $0.04 per share, down from $0.11 at June 30, 2025 and $0.12 at March 31, 2025. That sequence points to continued pressure on portfolio value and underscores the importance of mark-to-market dynamics in the fund’s reported performance. In its March 31, 2026 Form 10-Q, the company still described itself as an externally managed, non-diversified closed-end investment company electing BDC status under the Investment Company Act of 1940, confirming the continuity of its structure and strategy. ([firsthandtvf.com](https://firsthandtvf.com/))