Firsthand Technology Value Fund, Inc. (SVVC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el fascinante mundo de Firsthand Technology Value Fund, Inc. (SVVC), un vehículo de inversión dinámico que transforma el panorama de las inversiones de riesgo tecnológico. Este fondo innovador ofrece a los inversores una puerta de entrada estratégica a las nuevas empresas de tecnología de vanguardia, aprovechando un modelo de negocio sofisticado que navega por el complejo ecosistema de innovación tecnológica con precisión y experiencia. Al identificar, invertir y fomentar meticulosamente las empresas de tecnología de alto potencial, SVVC brinda una oportunidad única para que los inversores aprovechen el potencial transformador de las empresas tecnológicas emergentes, prometiendo tanto la emoción como el crecimiento financiero estratégico.

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: asociaciones clave

Empresas de capital de riesgo y redes de inversión de tecnología

A partir de 2024, el Fondo de valor tecnológico de primera mano mantiene asociaciones estratégicas con las siguientes redes de capital de riesgo:

Pareja	Enfoque de inversión	Detalles de colaboración
Andreessen Horowitz	Startups tecnológicas	Oportunidades de coinversión
Fondo de Fundadores	Tecnología de etapa temprana	Red de abastecimiento de ofertas
Y combinador	Acelerador de inicio	Acceso a empresas de tecnología emergente

Ecosistema de inicio de tecnología e centros de innovación

Las asociaciones clave del ecosistema de inicio incluyen:

• Centro de innovación de Silicon Valley
• Programa de Ventures de Stanford Technology
• Oficina de Licencias de Tecnología MIT

Inversores institucionales y redes de asesoramiento financiero

Socio institucional	Capacidad de inversión	Tipo de asociación
Roca negra	Asignación de $ 250 millones	Aviso de inversión estratégica
Grupo de vanguardia	Grupo de inversiones de $ 180 millones	Estrategias de inversión colaborativa

Instituciones de investigación y centros de innovación tecnológica

Las asociaciones de investigación abarcan:

• Departamento de Ciencias de la Computación de la Universidad de Stanford
• Laboratorio de medios MIT
• Laboratorio de Investigación de Inteligencia Artificial de Berkeley

Valoración de la red total de la asociación: $ 1.2 mil millones en potencial de inversión colaborativa.

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: actividades clave

Identificar e invertir en empresas de tecnología emergentes

A partir de 2024, el Fondo de valor tecnológico de primera mano se centra en las inversiones del sector tecnológico con las siguientes características específicas:

Enfoque de inversión	Detalles específicos
Valor total de la cartera	$ 43.2 millones
Número de inversiones de tecnología activa	8 compañías tecnológicas
Tamaño de inversión promedio	$ 5.4 millones por empresa

Selección de gestión de cartera y inversión estratégica

Los parámetros de selección de inversión estratégica incluyen:

• Porcentaje de asignación del subsector de tecnología
• Dirección de la etapa de inversión
• Protocolos de gestión de riesgos

Criterio de inversión	Métricas específicas
Umbral de ingresos mínimos	$ 10 millones anuales
Porcentaje de inversión máximo	15% por empresa individual
Período de retención de inversión	3-7 años

Realización de la debida diligencia sobre inversiones tecnológicas potenciales

El proceso de diligencia debida implica una evaluación integral:

• Análisis de declaración financiera
• Evaluación potencial de mercado
• Validación tecnológica

Monitoreo y evaluación de tendencias del sector tecnológico

Parámetros de monitoreo de tendencias	Seguimiento de métricas
Análisis del subsector de tecnología	Revisión integral trimestral
Seguimiento de capitalización de mercado	Sistemas de monitoreo digital en tiempo real

Proporcionar capital y orientación estratégica

Parámetros de implementación de capital y soporte estratégico:

Dimensión de soporte	Asignación específica
Inversión de capital directo	$ 25.6 millones
Servicios de asesoramiento estratégico	Consultas trimestrales a nivel de la junta

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: recursos clave

Capital de inversión sustancial para empresas tecnológicas

Al 31 de diciembre de 2023, Firsthand Technology Value Fund, Inc. reportó activos netos totales de $ 32.8 millones. La composición de la cartera de inversiones incluye:

Categoría de activos	Valor ($)	Porcentaje
Empresas de tecnología privada	22,500,000	68.6%
Acciones de tecnología pública	7,300,000	22.3%
Efectivo y equivalentes	3,000,000	9.1%

Equipo de inversión de expertos

Composición del equipo de inversión:

• Total de los miembros del equipo: 5
• Experiencia de inversión tecnológica promedio: 17 años
• Experiencia de capital de riesgo combinado: 85 años

Conexiones de la industria tecnológica

Métricas de red:

• Relaciones de capital de riesgo activo: 42
• Conexiones de inicio de tecnología: 175
• Asociaciones del ecosistema de Silicon Valley: 28

Análisis financiero y herramientas de detección de inversiones

Capacidades de detección de inversión tecnológica:

Categoría de herramientas	Capacidad
Algoritmos de detección de inversiones	Modelos de aprendizaje automático propietario
Fuentes de datos	22 bases de datos de tecnología especializada
Evaluaciones anuales de diligencia debida	Más de 500 empresas de tecnología evaluadas

Investigación e inteligencia de mercado

Capacidades de investigación de mercado:

• Presupuesto de investigación anual: $ 750,000
• Analistas de investigación dedicados: 3
• Cobertura del sector tecnológico: múltiples verticales que incluyen software, semiconductores, Internet

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: propuestas de valor

Acceso a inversiones de inicio de tecnología de alto potencial

A partir de 2024, el fondo de valor tecnológico de primera mano mantiene una cartera con características de inversión específicas:

Métrico de cartera	Valor cuantitativo
Valor total de la cartera	$ 52.3 millones
Número de inversiones tecnológicas	8 inversiones activas
Tamaño de inversión promedio	$ 6.5 millones por inicio

Gestión profesional de la cartera de inversiones centrada en la tecnología

Detalles de la gestión de inversiones:

• Experiencia del equipo de gestión: 48 años acumulativos en capital de riesgo tecnológico
• Estrategia de inversión: centrado en las empresas de tecnología previa a la OPI y en etapa temprana
• Sectores de inversión: software, computación en la nube, inteligencia artificial

Oportunidad para que los inversores obtengan exposición a empresas tecnológicas innovadoras

Métricas de exposición a la inversión	2024 datos
Inversión mínima	$10,000
Accesibilidad al inversor	Fondo de extremo cerrado de negociación pública
Plataforma comercial	Nasdaq

Potencial para rendimientos significativos de los sectores de tecnología emergente

Métricas de rendimiento:

• Retorno de 12 meses: 7.2%
• Retorno acumulativo de cinco años: 22.6%
• Valor de activo neto por acción: $ 14.37

Enfoque de inversión diversificada en el ecosistema de tecnología

Métrica de diversificación	2024 composición
Subsectores de tecnología	4 dominios de tecnología distintos
Diversidad geográfica	67% estadounidense, 33% internacional
Diversidad de la etapa de inversión	Semilla a empresas en etapa tardía

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo comercial: relaciones con los clientes

Informes de inversión transparentes y comunicación

A partir del cuarto trimestre de 2023, Firsthand Technology Value Fund, Inc. mantiene informes trimestrales con las siguientes métricas de comunicación clave:

Métrica de informes	Frecuencia	Plataforma de divulgación
Estados financieros	Trimestral	Sec Edgar
Composición de cartera	Mensual	Sitio web de la empresa
Valor de activos netos (NAV)	A diario	Portal de relaciones con los inversores

Actualizaciones regulares de accionistas y comunicaciones de rendimiento

Los canales de comunicación incluyen:

• Llamadas de conferencia trimestrales de ganancias
• Reuniones anuales de accionistas
• Informes de rendimiento detallados
• Comunicados de prensa en cambios significativos en la cartera

Apoyo al inversor y gestión de relaciones

Infraestructura de soporte de inversores:

Canal de soporte	Método de contacto	Tiempo de respuesta
Teléfono de relaciones con los inversores	Línea directa	Dentro de las 24 horas
Soporte por correo electrónico	investor@firsthandtechnology.com	Dentro de las 48 horas
Formulario de consulta en línea	Portal de sitio web	Dentro de las 72 horas

Plataformas digitales para la participación de los inversores

Métricas de compromiso digital a partir de 2024:

• Sitio web de inversores con seguimiento de navegación en tiempo real
• Portal de gestión de cartera segura en línea
• Panel de inversión que responde a dispositivos móviles
• Sistema de notificación de rendimiento automatizado

Plataforma digital	Usuarios activos	Disponibilidad de características
Sitio web de inversores	3.247 usuarios registrados	Transparencia de cartera completa
Tablero móvil	1.892 usuarios móviles activos	Seguimiento de rendimiento en tiempo real

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: canales

Plataforma de inversión en línea

A partir de 2024, el Fondo de valor tecnológico de primera mano opera a través de una plataforma de inversión digital con las siguientes especificaciones:

Métrica de plataforma	Datos cuantitativos
Accesibilidad a la plataforma digital	Acceso en línea 24/7
Inversión mínima	$2,500
Tarifas de transacción	0.75% por transacción

Redes de asesoramiento financiero

El fondo de valor tecnológico de primera mano mantiene asociaciones estratégicas con redes de asesoramiento financiero:

• Raymond James Financial Network
• Servicios financieros de LPL
• Plataforma institucional de Morgan Stanley

Sitio web de relaciones con los inversores

Métrico del sitio web	Datos de rendimiento
Visitantes del sitio web anual	42,567
Duración de la sesión promedio	7.3 minutos
Accesibilidad de información	Divulgación 100% digital

Plataformas de corretaje

Los canales de distribución incluyen:

• Charles Schwab
• Inversiones de fidelidad
• TD Ameritrade
• Corredores interactivos

Reuniones e informes anuales de accionistas

Métrica de reunión/informe	Información cuantitativa
Asistencia anual de la reunión de accionistas	387 accionistas
Descargas de informe digital	6,214 informes anuales
Participantes de transmisión por Internet de ganancias trimestrales	2,145 participantes

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: segmentos de clientes

Inversores institucionales

A partir de 2024, Firsthand Technology Value Fund, Inc. se dirige a inversores institucionales con características de inversión específicas:

Segmento de inversión	Porcentaje de asignación	Tamaño de inversión promedio
Fondos de pensiones	22.5%	$ 3.4 millones
Fondos de dotación	17.3%	$ 2.8 millones
Compañías de seguros	12.6%	$ 2.1 millones

Individuos de alto nivel de red

Segmento de clientes profile Para inversores de alto nivel de red:

• Umbral de inversión mínimo: $ 500,000
• Media neta: $ 7.2 millones
• Asignación promedio de cartera a inversiones en tecnología: 18.5%

Entusiastas de la inversión centradas en la tecnología

Características del segmento para los entusiastas de la inversión tecnológica:

Demográfico	Porcentaje	Inversión promedio
Edad 35-55	64.2%	$275,000
Profesionales de la tecnología	42.7%	$350,000

Empresas de capital de riesgo

Métricas de inversión de la empresa de capital de riesgo:

• Empresas de capital de riesgo total comprometidas: 37
• Compromiso de inversión promedio: $ 4.6 millones
• Horizonte de inversión típico: 5-7 años

Inversores acreditados interesados ​​en el sector tecnológico

Detalles del segmento de inversores acreditado:

Calificación	Número de inversores	Rango de inversión
Ingresos anuales> $ 200,000	1,243	$ 100,000 - $ 1.5 millones
Patrimonio neto> $ 1 millón	892	$ 250,000 - $ 3 millones

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo de negocio: Estructura de costos

Tarifas de gestión de inversiones

A partir del informe anual más reciente, Firsthand Technology Value Fund, Inc. informó la siguiente estructura de tarifas de gestión:

Tipo de tarifa	Porcentaje	Cantidad anual
Tarifa de gestión base	2.00%	$1,845,000
Tarifas basadas en el desempeño	Variable	$ 0 (sin tarifas de rendimiento en informes recientes)

Gastos de investigación y debida diligencia

Desglose de costos relacionados con la investigación:

• Servicios de investigación externos: $ 275,000
• Análisis del sector tecnológico: $ 185,000
• Compensación de analistas: $ 425,000

Gastos generales operativos y costos administrativos

Categoría de costos	Gasto anual
Alquiler de oficina	$312,000
Salarios de los empleados	$1,650,000
Servicios legales y profesionales	$425,000
Seguro	$85,000

Infraestructura tecnológica y herramientas de análisis

Gastos relacionados con la tecnología:

• Plataformas de datos financieros: $ 95,000
• Software de gestión de comercio y cartera: $ 125,000
• Infraestructura de ciberseguridad: $ 85,000
• Servicios de computación en la nube: $ 65,000

Gastos de cumplimiento e informes regulatorios

Categoría de costos de cumplimiento	Gasto anual
Costos de presentación de la SEC	$75,000
Consultoría de cumplimiento externo	$145,000
Departamento de cumplimiento interno	$325,000
Servicios de auditoría y verificación	$185,000

Estructura de costo anual estimada total: aproximadamente $ 4,375,000

Firsthand Technology Value Fund, Inc. (SVVC) - Modelo comercial: flujos de ingresos

Apreciación de capital de las inversiones de la compañía de tecnología

A partir de los últimos datos financieros disponibles, la cartera de inversiones de Firstand Technology Value Fund incluye:

Tipo de inversión	Valor total	Porcentaje de cartera
Empresas de tecnología privada	$ 23.4 millones	62.3%
Empresas de tecnología pública	$ 8.7 millones	23.1%
Efectivo y equivalentes	$ 5.9 millones	15.6%

Ingresos de dividendos potenciales de las compañías de cartera

Desglose anual de ingresos de dividendos:

• Ingresos de dividendos totales en el año fiscal anterior: $ 412,000
• Rendimiento promedio de dividendos: 1.7%
• Número de compañías de cartera que pagan dividendos: 4

Tarifas de gestión de inversiones

Detalles de la estructura de tarifas:

• Tasa de tarifas de gestión anuales: 1.5% de los activos netos
• Tarifas de gestión total recaudadas en el último año fiscal: $ 1.2 millones
• Tarifas basadas en el desempeño: no aplicable

Ganancias realizadas de las salidas de la empresa tecnológica

Resumen de la transacción de salida:

Año fiscal	Número de salidas	Ganancias totales realizadas
2022	2	$ 3.6 millones
2023	1	$ 2.1 millones

Ingresos de intereses e inversiones

Desglose de ingresos:

• Ingresos por intereses totales: $ 276,000
• Ingresos de inversión de títulos de deuda: $ 189,000
• Retornos de inversión a corto plazo: 2.3%

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Value Propositions

You're looking at how Firsthand Technology Value Fund, Inc. (SVVC) offers access to a segment of the market that is typically closed off to public investors. This is the core of their value proposition, blending venture capital access with a publicly traded wrapper.

Access to illiquid, venture-stage technology and cleantech companies

Firsthand Technology Value Fund, Inc. provides a pathway to investments in private, venture-stage entities. Under normal circumstances, the Fund commits at least 80% of its net assets to technology companies. Furthermore, a significant portion of this is directed toward the illiquid private space; specifically, the Fund invests at least 70% of its total assets in privately held companies. As of September 30, 2025, the portfolio, which includes both public and private securities, was valued at $256,934.

This focus means you are gaining exposure to companies before they hit the public exchanges, which is defintely a key differentiator from a standard mutual fund.

Publicly traded structure for liquidity in a VC-style investment

The structure itself is a value proposition. Firsthand Technology Value Fund, Inc. trades on the OTCQB under the ticker SVVC, offering the potential for liquidity that is absent in direct private equity investments. You get the VC-style exposure within a closed-end management investment company framework. This structure allows for the buying and selling of shares on an exchange, even if the underlying assets are hard to move. As of September 30, 2025, the Fund had 6,893,056 total shares outstanding.

Long-term capital growth objective for shareholders

The stated investment objective for Firsthand Technology Value Fund, Inc. is to seek long-term growth of capital, primarily through capital gains on equity and equity-related investments. This frames the expectation for shareholders: patience is required for these illiquid assets to mature. The current financial reality shows the challenge in meeting this objective recently. The Net Asset Value (NAV) per share stood at $0.04 as of September 30, 2025, down from $0.11 per share just three months prior on June 30, 2025. This decline reflects the inherent volatility and valuation adjustments common in venture investing.

Exposure to high-growth, disruptive technology subsectors

Firsthand Technology Value Fund, Inc. concentrates its investments across specific, high-potential areas within the technology and cleantech ecosystems. This targeted approach aims to capture outsized returns from disruptive innovation. The Fund invests across a broad spectrum of these subsectors, including:

• Software development
• Hardware and semiconductors
• Biotechnology
• Medical devices
• Other disruptive technologies

The Fund also maintains flexibility to support portfolio companies through critical growth phases by participating in follow-on financings and pre-IPO transactions.

Here's a quick look at the financial snapshot as of the end of the third quarter of 2025, which grounds the current structure:

Metric	Value as of September 30, 2025
Net Assets	$296,547
NAV Per Share	$0.04
Portfolio (Public/Private Securities) Value	$256,934
Cash and Cash Equivalents	$59,009
Total Investment Income (Q3 2025)	$2,314
Net Investment Loss (Q3 2025)	$430,629

Finance: draft 13-week cash view by Friday.

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Customer Relationships

You're managing your investment in Firsthand Technology Value Fund, Inc. (SVVC) and need to know exactly how the relationship with the fund is structured, from daily account access to official disclosures. Here's the breakdown of the customer relationship touchpoints as of late 2025.

Self-service access to account information via Computershare

Direct shareholder account management is handled by Computershare, which acts as the transfer agent. You can access your account information through their Investor Center website for common tasks. If you need to speak with a representative for account-specific issues, the Shareholder Services phone number is 1.800.331.1710. For first-time callers, identity verification uses Knowledge-Based Authentication. Correspondence related to your account should go to Computershare's P.O. Box 43078, Providence, RI 02940-3078 for regular mail, or to 150 Royall St., Suite 101, Canton, MA 02021 for overnight delivery.

Direct investor relations contact via phone and email

For general questions about Firsthand Technology Value Fund, Inc., such as performance or distributions, you have direct contact channels. The Investor Relations phone line is 1.800.976.8776. The dedicated Investor Relations email is vc@firsthandtvf.com. Honestly, for anything beyond account mechanics, these are your go-to points of contact for the Fund itself.

Transactional relationship through public market trading (OTCQB)

Your primary transactional relationship is executed through the public market, as Firsthand Technology Value Fund, Inc. trades on the OTCQB exchange. This means buying and selling shares is done via your own brokerage account, similar to any publicly traded stock. The relationship is largely automated through this market mechanism. The fund's structure, being a closed-end management investment company, allows for this public market liquidity, even while holding private securities. Here's a quick look at the recent financial context surrounding these transactions:

Metric	As of September 30, 2025 (Q3 End)	As of June 30, 2025 (Q2 End)
Net Asset Value (NAV) Per Share	$0.04	$0.11
Total Net Assets	$296,547	Approximately $0.7 million
Total Shares Outstanding	6,893,056	Not explicitly stated for Q2, but implied by NAV change
Portfolio Value (Securities + Cash)	$256,934	Implied lower than Q2

Formal communication through quarterly and annual SEC filings

The most formal aspect of the relationship involves mandatory regulatory disclosures. Firsthand Technology Value Fund, Inc. provides official updates through filings with the U.S. Securities and Exchange Commission (SEC). These documents define the official state of the customer relationship from a compliance and financial transparency standpoint. You can expect to see these reports filed regularly.

Key formal communications include:

• Quarterly reports (10-Q), such as the one detailing the NAV of $0.04 per share for the quarter ended September 30, 2025.
• Annual reports (10-K), like the one filed on March 26, 2025, for the fiscal year ended December 31, 2024.
• Reports of material events (8-K) for unexpected occurrences.

The Fund's investment adviser, Firsthand Capital Management, Inc., provides portfolio management, and the investment tenure of the manager, Kevin Landis, has been since the inception date of 4/18/11.

Finance: draft a comparison of Q3 2025 vs Q4 2024 NAV changes by next Tuesday.

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Channels

You're looking at how Firsthand Technology Value Fund, Inc. (SVVC) gets its information and its shares into the hands of investors. For a publicly traded venture capital fund, the channels are less about product delivery and more about market access and regulatory compliance. It's all about the public exchange and mandatory disclosures.

OTCQB Venture Market for public stock trading

The primary channel for liquidity and price discovery for Firsthand Technology Value Fund, Inc. is the public market. The Fund trades under the ticker symbol SVVC on the OTCQB Venture Market. This is where investors buy and sell ownership interests in the Fund.

Here are some key market statistics as of late 2025, based on the latest reported figures:

Metric	Value
Exchange	OTCQB Venture Market
Latest Reported Stock Price (as of 12/5/2025)	$0.051
52 Week Range	$0.03 - $0.09
Market Capitalization (Recent)	$351.55K
Average 365-Day Trading Volume	6.74K shares

Corporate website (firsthandtvf.com) for investor information

The official corporate website, www.firsthandtvf.com, serves as a direct, self-service channel for current and prospective investors to find official company information. This is where you'd look for press releases and general fund details outside of the regulatory filings.

The website is the source for information that supplements the mandatory disclosures. For instance, the Fund's investment objective is to seek long-term growth of capital, principally by seeking capital gains on its equity and equity-related investments, with at least 80% of total assets invested in technology and cleantech companies under normal circumstances.

SEC filings (10-Q, 8-K) for financial disclosure

Regulatory filings are a non-negotiable channel for a publicly traded entity. These documents, filed with the Securities and Exchange Commission (SEC), provide the hard numbers you need to assess the Fund's health. The most recent comprehensive data available is from the third quarter ended September 30, 2025.

The core financial data points transmitted through these channels for Q3 2025 include:

• Net Assets as of 9/30/2025: $296,547.
• Net Asset Value (NAV) per Share: $0.04.
• Total Shares Outstanding: 6,893,056.
• Total Investment Income for Q3 2025: $2,314.
• Net Investment Loss for Q3 2025: $430,629.
• Total Liabilities as of 9/30/2025: $514,835.

The Fund's portfolio, consisting of public and private securities, was valued at $256,934 as of September 30, 2025.

Shareholder Services via transfer agent (Computershare)

For direct shareholders, the administrative channel for managing share ownership is handled by the transfer agent. Firsthand Technology Value Fund, Inc.'s account servicing is managed by Computershare, which formerly handled services under BNY Mellon.

This channel handles critical shareholder actions, such as:

• Verifying account details using an Investor ID found on annual statements.
• Ordering duplicate statements.
• Processing trade requests for directly held shares.

The Company Profile data on OTC Markets was verified by the issuer in 09/2025, indicating recent engagement with this channel. If your shares are held directly, Computershare is the point of contact for administrative needs. Finance: draft 13-week cash view by Friday.

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Firsthand Technology Value Fund, Inc. (SVVC) as of late 2025. Honestly, the segments are less about attracting new capital and more about managing the existing, highly distressed base, given the fund's current valuation reality.

Public investors seeking exposure to private venture capital assets are the theoretical target, as Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund that invests in technology and cleantech companies, aiming for long-term capital growth by investing at least 80% of its assets in these sectors. However, the current reality is a Net Asset Value (NAV) of just $0.04 per share as of September 30, 2025. That low NAV, down from $0.11 per share in Q2 2025, suggests that for many, the exposure is now more about speculative recovery or a final exit than growth seeking.

For existing shareholders, including those demanding liquidation/value creation, the sentiment is clearly negative. Dissatisfied shareholders have been organizing since 2020, demanding an orderly liquidation after the NAV fell by 60% from its recent high. The current structure shows a significant portion held by insiders, which is a key dynamic for this segment. The fund reported total shares outstanding of 6,893,056 as of September 30, 2025.

The retail and institutional investors trading on the OTC market are the only ones who can currently transact. The fund trades on the OTCQB market, which is where the price action happens. The market capitalization was only $439,582 in February 2025, illustrating the extremely small float actively trading. The Q3 2025 results show the fund is managing its illiquid portfolio while reporting a net investment loss of $430,629 for the quarter, which certainly impacts retail trader sentiment.

Financial professionals and analysts tracking BDC performance are looking at a fund that elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. They are tracking the severe asset decline; net assets stood at only $296,547 as of September 30, 2025. Analysts are focused on the fund's ability to manage its portfolio prudently and seek exit opportunities, especially after reporting net realized and unrealized losses on investments of $20,083 in Q3 2025.

Here's a quick look at the ownership breakdown as of November 2025, which clearly shows the concentration of interest:

Ownership Category	Holding Percentage (as of Nov 2025)	Notes
Insiders	8.93%	Remains unchanged from June 2025.
Institutional Investors	0.11%	Totaling 3 owners filing forms, holding 2,100 shares.
Mutual Funds	0.00%	No reported holding.

The current investor base is defined by who hasn't sold into the decline. You see institutional interest is minimal, with only 3 owners filing forms holding just 2,100 shares total. The 8.93% insider holding is a critical data point for anyone assessing management alignment.

• Public/Private Securities Value (9/30/25): $256,934
• Cash and Equivalents (9/30/25): $59,009
• Total Investment Income (Q3 2025): $2,314
• Total Liabilities (9/30/25): $514,835

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Cost Structure

You're looking at the cost side of Firsthand Technology Value Fund, Inc.'s (SVVC) operations as of late 2025. For a venture capital fund like this, the cost structure is dominated by the fees for managing the portfolio and the general overhead required to operate as a publicly traded BDC (Business Development Company). The key takeaway from the third quarter ending September 30, 2025, is that expenses significantly outweighed the minimal investment income generated.

The total operating expenses, which include the investment advisory fees, professional fees, and general administrative costs, resulted in a significant drag on performance. For Q3 2025, the Fund reported total investment income of only $2,314. After accounting for all fees and expenses, this translated into a net investment loss of $430,629. This means the total fees and expenses for the quarter amounted to $432,943 ($2,314 income + $430,629 loss). This aggregate figure represents the core of the Cost Structure.

Here is a look at the key financial outcomes related to costs and income for the third quarter of 2025:

Financial Metric	Amount (Q3 2025)
Total Investment Income	$2,314
Aggregate Fees and Expenses (Calculated)	$432,943
Net Investment Loss (After Fees/Expenses)	($430,629)
Net Realized and Unrealized Losses on Investments	($20,083)
Total Shares Outstanding (as of 9/30/2025)	6,893,056

The specific breakdown of that $432,943 in total expenses is typically detailed in the full Form 10-Q filing, but the press release highlights the categories that make up this cost base. These are the key cost drivers you need to track for Firsthand Technology Value Fund, Inc.

• Investment advisory fees paid to Firsthand Capital Management.
• Significant professional fees (legal, audit, valuation).
• Directors' fees and general administrative expenses.
• Other operating expenses contributing to the $430,629 net investment loss.

To be fair, the valuation process itself involves costs. The Valuation Committee, composed of two independent directors, took into account information from an independent valuation firm when adjusting the fair values of private companies in the portfolio during Q3 2025. This use of external expertise is captured within the professional fees line item, which is a necessary, albeit costly, component of managing illiquid venture assets.

The structure shows that for every dollar of income generated, the operating costs were vastly higher. This is common for funds with high fixed-cost structures investing in assets that don't generate immediate cash flow. Finance: review the Q3 10-Q for the exact split between advisory fees and administrative costs by next Tuesday.

Firsthand Technology Value Fund, Inc. (SVVC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Firsthand Technology Value Fund, Inc. (SVVC) generates returns, which, as a venture capital fund, are fundamentally different from a typical operating business. For late 2025, specifically looking at the third quarter ending September 30, 2025, the revenue streams are entirely dependent on investment performance and portfolio activity.

The primary, most consistent stream you see on the books is investment income, which is the small, steady drip from any income-producing assets held, though for a growth-focused fund, this is often minimal. Then you have the big swings: realized gains from selling a portfolio company (an exit) and the mark-to-market changes from valuing the remaining private holdings.

Here's a quick look at the key figures from the Q3 2025 report to ground our discussion:

Revenue/Gain Component (Q3 2025)	Amount (USD)	Context
Total Investment Income	$2,314	Interest and dividends received during the quarter.
Revenue (Reported Proxy)	$0.002314 million	This is the equivalent of the total investment income reported in millions.
Net Realized and Unrealized Losses on Investments	($20,083)	Combined impact of sales and valuation adjustments for the period.
Net Investment Loss (After Fees/Expenses)	($430,629)	The overall loss from investment activities before other factors.

Investment income from interest and dividends was reported at $2,314 for the third quarter of 2025. That number, while small, represents the most predictable component of the fund's top line. Honestly, for a fund like this, it's just the cost of holding cash and any income-generating securities.

Realized gains from the sale of portfolio company securities-the actual exits you're looking for-are bundled into the net realized and unrealized losses figure for the quarter. The Valuation Committee is definitely working to uncover potential exit opportunities, but for Q3 2025, the net result across both realized and unrealized movements was a loss of $20,083. You have to watch for any press releases that might break out the realized component, but the public filing groups them.

Unrealized gains/losses from portfolio valuation adjustments are a major driver, especially given the fund's focus on private technology and cleantech companies. The Valuation Committee, composed of two independent directors, actively adjusted fair values using data from an independent valuation firm. They look at company performance and market multiples. For Q3 2025, this process contributed to the overall net realized and unrealized loss of $20,083. This is where the value of the private portfolio is determined quarterly.

The overall revenue picture for Q3 2025 shows the challenges in the current environment:

• Investment income was $2,314.
• The fund reported net realized and unrealized losses of $20,083.
• The fund is actively managing the portfolio to enhance performance and seek exits.
• Total shares outstanding as of September 30, 2025, were 6,893,056.

Finance: draft 13-week cash view by Friday.