GSV Capital Reports Third Quarter 2012 Results of Operations

GSV Capital Reports Third Quarter 2012 Results of Operations

Net Asset Value (NAV) of Fund Was $13.45 Per Share as of September 30, 2012

WOODSIDE, Calif., Nov. 7, 2012 (GLOBE NEWSWIRE) -- GSV Capital Corp., "GSV",
(Nasdaq:GSVC) today reported financial results for the third quarter ended
September 30, 2012.

Management Commentary

"We are pleased with the development of our portfolio, which today includes 46
high-growth venture-backed companies that we believe have the potential to
drive significant growth, value and shareholder returns. Twitter, Violin
Memory and Dropbox are among our largest investments and we demonstrated
strong execution in terms of identifying, sourcing and closing key investments
across our major investment themes," said Michael Moe, GSV's CEO and founder.

Portfolio Summary and Investment Activity

The total value of GSV's portfolio investments was $217.4 million at September
30, 2012. During the third quarter of 2012, GSV invested approximately $50.2
million innine new andnine existing portfolio companies.

GSV invested in the following new portfolio companies during the third
quarter: 2tor, Dataminr, NestGSV Silicon Valley, Neuron Fuel, Strategic Sports
Solutions, SinoLending, Spotify, SugarCRM andTotus Solutions.

GSV also made additional investments in current portfolio companies,
including: AltEgo, AlwaysOn, Avenues, Control4, Dropbox, Gilt Groupe, Maven
Research and Twitter during the third quarter.

Recent Developments

The Company closed on investments totaling approximately $4.7 million, plus
transaction costs, subsequent to September 30, 2012, which included
investments in Control4, Parchment, Ozy Media and Top Hat 430.

Portfolio as of September 30, 2012

GSV's investment portfolio consists of companies that it believes benefit from
"megatrends" that have the potential to drive the market in the years to come.
GSV invests in companies that combine what it believes are powerful
technological, economic and social forces that create growth opportunities in
the economy.

At the end of the third quarter of 2012, GSV's portfolio included investments
in the following companies: 2tor, AltEgo, AlwaysOn, Avenues World Holdings,
Bloom Energy, Chegg, Control4, CUX, Dailybreak, Dataminr, DreamBox Learning,
Dropbox, Facebook, Fullbridge, Gilt Groupe, Global Education Learning,
Grockit, Groupon, Kno, Maven Research, NestGSV, NestGSV Silicon Valley, Neuron
Fuel, NewZoom, Strategic Sports Solutions, Serious Energy, SharesPost, Silver
Spring Networks, SinoLending, Solexel, Spotify, StormWind, SugarCRM, The Echo
System, The rSmart Group, Top Hat 430, Totus Solutions, TrueCar, Twitter,
Violin Memory, ZocDoc and Zynga.

Financial Results

                           September 30, 2012
Total Portfolio Investments $217,441,538
Total Investments           $233,441,538
Total Cash                  $26,331,482
Total Assets                $260,309,025
Total Liabilities           $449,771
Net Assets                  $259,859,254
Net Asset Value Per Share   $13.45

                                       For the three        For the three
                                       months ended        months ended
                                       September 30, 2012   September 30, 2011
Total Investment Income                $13,928             $53,408
Net Investment Loss                    $(2,334,568)        $(680,088)
Net Change in Unrealized Depreciation  $(4,665,272)        $(494,170)
on Investments
Net Decrease in Net Assets Resulting   $(6,999,840)        $(1,174,258)
From Operations
Net Decrease in Net Assets Resulting   $(0.36)             $(0.34)
From Operations Per Common Share
Weighted Average Common Shares         19,320,100          3,430,100
Outstanding

Results of Operations

Investment income was $13,928 or $0.00 per share, for the three months ended
September 30, 2012, compared to $53,408, or $0.02 per share, for the three
months ended September 30, 2011. Net investment loss was $2,334,568, or $0.12
per share, in the third quarter of 2012, compared to $680,088, or $0.20 per
share, for the prior year period. Net realized loss on investments was $0 or
$0.00 per share, in the third quarter of 2012, compared to $0, or $0.00 per
share, for the same period in 2011. Net change in unrealized depreciation was
$4,665,272 or $0.24 per share, for the three months ended September 30, 2012,
compared to $494,170, or $0.14 per share, for the prior year period. Net
decrease in net assets resulting from operations was $6,999,840, or $0.36 per
share, and $1,174,258, or $0.34 per share, for the third quarter of 2012 and
2011, respectively.

Conference Call Information

The GSV Capital third quarter 2012 teleconference and audio webcast is
scheduled to begin at 5:30 a.m., Pacific Time, on Wednesday, November 7, 2012,
during which the company may provide forward-looking information. To
participate on the live call, analysts and investors should dial 877-941-4774
at least ten minutes prior to the call. GSV Capital will also offer a live and
archived webcast of the conference call, accessible from the "Investor
Relations" section of the company's Web site at http://investors.gsvcap.com/

About GSV Capital Corp.

GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment fund that
seeks to invest in high-growth, venture-backed private companies. Led by
industry veteran Michael Moe, the fund seeks to create a portfolio of
high-growth emerging private companies via a repeatable and disciplined
investment approach, as well as to provide investors with access to such
companies through its publicly traded common stock. GSV Capital is
headquartered in Woodside, CA.

The GSV Capital Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=12750

Forwarding-Looking Statements

Statements included herein may constitute "forward-looking statements," which
relate to future events or our future performance or financial condition.
These statements are not guarantees of future performance, condition or
results and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a result of
a number of factors, including those described from time to time in our
filings with the Securities and Exchange Commission. GSV Capital Corp.
undertakes no duty to update any forward-looking statements made herein.

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
(Unaudited)
                                                           
                                                           September 30, 2012
ASSETS                                                      
Investments at fair value:                                  
Investments in affiliated securities (cost of $31,130,920)  $31,247,914
Investments in non-control/non-affiliated securities (cost  186,193,624
of $193,559,007)
Investments in money market funds (cost of $16,000,000)     16,000,000
Total Investments (cost of $240,689,927)                    233,441,538
                                                           
Cash                                                        26,331,482
Due from:                                                   
GSV Asset Management                                        3,315
Portfolio companies                                         291,554
Prepaid expenses                                            136,096
Dividend receivable                                         2,190
Other assets                                                102,850
Total Assets                                                260,309,025
                                                           
LIABILITIES                                                 
Due to:                                                     
GSV Asset Management                                        41,197
Other affiliates                                            917
Accounts payable                                            292,925
Accrued expenses                                            114,732
Total Liabilities                                           449,771
Commitments and contingencies                               
Net Assets                                                  $259,859,254
                                                           
NET ASSETS                                                  
Common stock, par value $0.01 per share                     
(100,000,000 authorized; 19,320,100 issued and outstanding) $193,201
Paid-in capital in excess of par                            275,837,514
Accumulated net investment loss                             (7,542,553)
Accumulated net realized loss on investments                (1,380,519)
Accumulated net unrealized depreciation on investments      (7,248,389)
Net Assets                                                  $259,859,254
                                                           
Net Asset Value Per Share                                   $13.45


CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
                  Three Months Ended            Nine Months Ended
                   September 30,                 September 30,
                  2012           2011           2012           2011^(^1)
                                                            
INVESTMENT INCOME  $2,418        $--          $200,195       $--
Interest income
from affiliated    4,645         52,222        21,852         52,222
securities
Interest income    6,865         1,186         20,040         1,186
Dividend income    13,928        53,408        242,087        53,408
Total Investment                                             
Income
                                                            
OPERATING EXPENSES 1,351,169     233,961       3,099,186      384,904
Investment         543,171       192,031       1,490,966      305,066
management fees
Costs incurred
under              65,000        42,500        172,500        85,000
administration
agreement
Directors' fees    242,683       152,916       597,089        271,548
Professional fees  56,133        47,192        158,287        95,301
Insurance expense  34,698        52,250        143,986        53,000
Investor relations --           6,336         --             198,831
expense
Organization       55,642        6,310         88,762         15,959
expenses
Other expenses     2,348,496     733,496       5,750,776      1,409,609
Total Operating                                              
Expenses
                  (2,334,568)   (680,088)     (5,508,689)    (1,356,201)
Net Investment                                               
Loss
                  --           --           (1,380,519)    --
Net Realized Loss                                            
on Investments
                  (4,665,272)   (494,170)     (5,668,589)    (553,804)
Net Change in
Unrealized                                                   
Depreciation on
Investments
                  $(6,999,840)  $(1,174,258)  $(12,557,797)  $(1,910,005)
Net Decrease in
Net Assets                                                   
Resulting from
Operations
                  $(0.36)       $(0.34)       $(0.84)        (0.78)
Net Decrease in
Net Assets
Resulting from                                               
Operations per
Common Share
                  19,320,100    3,430,100     15,013,896     2,460,565^(2)
Weighted Average
Common Shares                                                
Outstanding
                                                            
^(^1) For the period from January 6, 2011 (date of inception) to September 30,
2011.
                                                            
^(2^) Weighted average common shares for the period from January 6, 2011 (date
of inception) to September 30, 2011 was calculated from the issuance of 100
shares on February 28, 2011.

                                                            
FINANCIAL HIGHLIGHTS                                         
(Unaudited)                                                  
                                                          
                      Three months ended Three months ended 
                       September 30, 2012 September 30, 2011
Per Share Data:                                            
Net asset value at     $13.81            $13.57            
beginning of period
Issuance of common     --               --               
shares
Accretion from         --               0.23^(2)          
offering
Underwriters' discount --               (0.23)^(2)        
Offering costs         --               (0.10)^(2)        
Net investment loss    (0.12)^(1)        (0.12)^(2)        
Realized loss          --               --               
Change in unrealized   (0.24)^(5)        (0.09)^(2)        
depreciation
Net asset value at end $13.45            $13.26            
of period
                                                          
                                                          
                                          For the period     For the period
                                          from               from
                      Nine months ended  January 6, 2011    January 6, 2011
                       September 30, 2012 (date of           (date of
                                          inception) to      inception) to
                                          September 30, 2011 December 31, 2011
Per Share Data:                                            
Net asset value at     $12.95            $--              $--
beginning of period
Issuance of common     1.91^(3)          14.67^(4)         14.67^(4)
shares
Accretion from         --               --               --
offering
Underwriters' discount (0.72)^(2)        (0.86)^(2)        (0.86)^(2)
Offering costs         (0.04)^(2)        (0.20)^(2)        (0.19)^(2)
Net investment loss    (0.37)^(1)        (0.25)^(2)        (0.37)^(2)
Realized loss          (0.07)^(2)        --               --
Change in unrealized   (0.21)^(5)        (0.10)^(2)        (0.30)^(2)
depreciation
Net asset value at end $13.45            $13.26            $12.95
of period
                                                          
^(1) Based on weighted average number of shares outstanding for the period.
^(2) Based on shares outstanding at end of period.
^(3) Issuance of common shares for the nine months ended September 30, 2012 is
based on the change in net asset value from the secondary offerings on
February 10, 2012 and May 11, 2012.
^(4) Issuance of common shares for the period from January 6, 2011 (date of
inception) to September 30, 2011 and from January 6, 2011 (date of inception)
to December 31, 2011 is based on the weighted average offering price for the
shares issued during the period.
^(5)Includes the impact of the different share amounts as a result of
calculating certain per share data based on the weighted average basic shares
outstanding during the period and certain per share data based on the shares
outstanding as of a period end or transaction date.


CONSOLIDATED SCHEDULE OF INVESTMENTS
September 30, 2012
(Unaudited)
                                                                  
Portfolio      Headquarters /   Shares /                              % of
Investments*   Industry         Capital                   FairValue  Net
                                Contribution Cost                     Assets
                                                                  
2tor, Inc.     Landover, MD                                         
Common shares  Online Education 1,151,802    $8,757,599   $8,730,846   3.36%
Preferred
shares, Series                 167,431      1,273,125    1,269,154    0.49%
A
Total                                      10,030,724   10,000,000   3.85%
                                                                  
AltEgo, LLC    Santa Monica, CA
Preferred      Social Media
shares, Series Customer                                             
B-2           Acquisition
              Platform        1,400,000    1,420,406    1,400,000    0.54%
                                                                  
AlwaysOn, Inc. Woodside, CA                                         
^(1) ^(2)
Preferred
shares, Series Social Media     1,066,626    1,027,391    1,087,955    0.42%
A
                                                                  
Avenues World  New York, NY                                         
Holdings LLC
Preferred      Globally-focused
shares, Class  Private School   5,000,000    10,026,573   10,000,000   3.85%
A-1
                                                                  
Bloom Energy   Sunnyvale, CA                                        
Corporation
Common shares  Fuel Cell Energy 201,589      3,855,601    3,678,999    1.42%
                                                                  
Chegg, Inc.    Santa Clara, CA                                      
Common shares  Textbook Rental  1,274,193    10,012,543   10,193,544   3.92%
Preferred
shares, Series                 500,000      4,008,654    4,000,000    1.54%
F
Total                                      14,021,197   14,193,544   5.46%
                                                                  
Control4       Salt Lake City,                                      
Corporation    UT
Common shares  Home Automation  3,650,667    6,274,551    5,950,587    2.29%
                                                                  
CUX, Inc. ^(2) San Francisco,                                       
               CA
Preferred      Corporate
shares, Series Education        246,305      2,006,077    2,000,000    0.77%
C
                                                                  
Dailybreak,    Boston, MA                                           
Inc. ^(2)
Preferred      Social
shares, Series Advertising      1,545,181    2,000,000    2,000,000    0.77%
A-1
                                                                  
Dataminr, Inc. New York, NY                                         
Preferred      Social Media
shares, Series Analytics        904,977      2,060,602    1,999,999    0.77%
B
                                                                  
DreamBox       Bellevue, WA                                         
Learning, Inc.
Preferred      Education
shares, Series Technology       3,579,610    758,017      750,000      0.29%
A
                                                                  
Dropbox, Inc.  San Francisco,                                       
               CA
Common share   Online           760,000      8,640,940    8,360,000    3.22%
Preferred
shares, Series Storage          552,486      5,015,333    6,077,346    2.34%
A-1
Total                                      13,656,273   14,437,346   5.56%
                                                                  
Facebook, Inc. Menlo Park, CA                                       
^ (3)
Common shares, Social           350,000      10,472,294   6,898,710    2.65%
Class B        Networking
                                                                  
Fullbridge,    Cambridge, MA                                        
Inc. ^(2)
Preferred      Business
shares, Series Education        1,196,809    2,250,001    2,250,000    0.87%
C
                                                                  
Gilt Groupe,   New York, NY                                         
Inc.
Common shares  e-Commerce       248,600      6,594,346    5,469,200    2.10%
              Flash Sales                                          
                                                                  
Global
Education
Learning       Hong Kong                                            
(Holdings)
Ltd. ^(2)
Preferred      Education
shares, Series Technology       1,472,175    2,999,998    2,999,998    1.15%
A
                                                                  
Grockit, Inc.  San Francisco,                                       
^(2)           CA
Preferred
shares, Series Online Test      2,728,252    2,005,945    2,000,000    0.77%
D
              Preparation                                          
                                                                  
Groupon, Inc.  Chicago, IL                                          
^(4)
Common shares  Online Deals     80,000       2,128,774    381,600      0.15%
                                                                  
Kno, Inc.      Santa Clara, CA                                      
Preferred
shares, Series Digital          440,313      2,262,006    2,250,000    0.87%
C
Preferred
shares, Series Textbooks        1            7,510,334    7,500,000    2.89%
C-1
Common shares                  50,000       214,681      205,000      0.08%
Total                                      9,987,021    9,955,000    3.84%
                                                                  
Maven          San Francisco,
Research, Inc. CA                                                   
^(2)
Preferred
shares, Series Knowledge        49,505       217,206      200,000      0.08%
B
Preferred
shares, Series Networks         318,979      1,999,998    1,999,998    0.77%
C
Total                                      2,217,204    2,199,998    0.85%
                                                                  
NestGSV, Inc.  Redwood City, CA                                     
^(2)
Preferred
shares, Series Incubator        1,000,000    1,021,778    1,000,000    0.38%
A
                                                                  
NestGSV
Silicon        Redwood City, CA                                     
Valley, LLC
^(2)
Common
membership     Incubator        $500,000     500,000      500,000      0.19%
interest
                                                                  
Neuron Fuel,   San Jose, CA                                         
Inc.
Preferred      Computer
shares, Series Software         250,000      262,530      250,000      0.10%
AAI
                                                                  
NewZoom, Inc.  San Francisco,
(d/b/a         CA                                                   
ZoomSystems)
Preferred
shares, Series Smart e-tail     1,250,000    260,476      250,000      0.10%
A
              (Retail)                                             
                                                                  
Palantir
Technologies,  Palo Alto, CA                                        
Inc.
Common shares, Cyber Security   7,045,690    19,780,613   19,747,501   7.60%
Class A
Preferred
shares, Series                 326,797      1,008,968    999,999      0.38%
G
Total                                      20,789,581   20,747,500   7.98%
                                                                  
Serious        Sunnyvale, CA                                        
Energy, Inc.
Common shares  Green Materials  178,095      739,130      --           --%
                                                                  
SharesPost,    San Bruno, CA                                        
Inc.
Preferred
shares, Series Online           1,771,653    2,257,984    2,256,752    0.87%
B
Common
warrants,
$0.13 strike   Marketplace     770,934      23,128       8,480        --%
price, expire
6/15/2018
Total          (Finance)                    2,281,112    2,265,232    0.87%
                                                                  
Silver Spring  Redwood City, CA                                     
Networks, Inc.
Common shares  Smart Grid       510,143      5,145,271    3,275,118    1.26%
                                                                  
SinoLending    Shanghai, China                                      
Ltd. ^(2)
Preferred      Chinese P2P
shares, Class  Lending          6,414,368    501,998      500,000      0.19%
A
                                                                  
Solexel, Inc.  Milpitas, CA                                         
Preferred
shares, Series Solar Power      4,576,659    10,016,559   10,000,000   3.85%
C
                                                                  
Spotify        Stockholm,
Technology     Sweden                                               
S.A.
Common shares  Music Streaming  3,658        3,598,472    3,589,659    1.38%
               Service
                                                                  
StormWind, LLC Scottsdale, AZ                                       
^(2)
Preferred      Interactive
shares, Series Learning         3,279,629    2,019,687    2,000,000    0.77%
B              Platform
                                                                  
Strategic
Sports         New York, NY                                         
Solutions, LLC
^(2)
Preferred
shares, Class  Sports Analytics 500,000      529,522      500,000      0.19%
A1
                                                                  
SugarCRM, Inc. Cupertino, CA                                        
               Customer
Common shares  Relationship     432,500      1,521,100    1,513,750    0.58%
               Manager
                                                                  
The Echo
System Corp.   New York, NY                                         
^(1) ^(2)
Preferred
shares, Series Social Analytics 512,365      1,436,404    1,639,568    0.63%
A
Preferred
warrants,
$0.20 strike                   68,359       75,988       70,394       0.03%
price, expire
11/14/2016
Total                                      1,512,392    1,709,962    0.66%
                                                                  
The rSmart     Scottsdale, AZ                                       
Group, Inc.
Preferred
shares, Series Higher Education 1,201,923    1,266,940    1,250,000    0.48%
B
              Learning                                             
               Platform
                                                                  
Top Hat 430,   Shakopee, MN                                         
Inc. ^(2)
Preferred      Jewelry
shares, Series Retailing        1,777,778    4,015,179    4,000,001    1.54%
A              Technology
                                                                  
Totus
Solutions,     Carrollton, TX                                       
Inc. ^(2)
Common shares  LED Lighting     20,000,000   5,023,748    5,000,000    1.92%
                                                                  
TrueCar, Inc.  Santa Monica, CA                                     
Common shares  Online           377,358      2,014,863    2,011,318    0.77%
              Marketplace                                          
               (Cars)
                                                                  
Twitter, Inc.  San Francisco,                                       
               CA
Common shares  Social           1,835,600    31,755,821   34,876,400   13.42%
Preferred
shares, Series Communication    65,000       1,235,290    1,235,000    0.47%
A
Total                                      32,991,111   36,111,400   13.89%
                                                                  
Violin Memory, Mountain View,                                       
Inc.           CA
Preferred
shares, Series Flash            800,000      4,800,798    4,800,000    1.85%
B
Preferred
shares, Series Memory           1,666,666    10,018,045   9,999,996    3.85%
D
Total                                      14,818,843   14,799,996   5.70%
                                                                  
Whittle
Schools, LLC   New York, NY                                         
^(2)
Preferred      Education
shares, Series Technology       1,500,000    1,500,000    1,500,000    0.58%
B
                                                                  
ZocDoc Inc.    New York, NY                                         
Preferred
shares, Series Online Medical   200,000      3,563,178    3,500,000    1.35%
A
              Scheduling                                           
                                                                  
Zynga, Inc.    San Francisco,                                       
               CA
Common shares  Social Gaming    533,333      3,003,462    1,514,666    0.58%
                                                                  
                                                                  
Total
Portfolio                                  $224,689,927 $217,441,538 $83.68%
Investments
                                                                  
                                                                  
*All portfolio investments are non-control/non-affiliated and non-income
producing, unless identified. Equity investments are subject to lock-up
restrictions upon their initial public offering.
                                                                  
^(1)Investment is income producing.
                                                                  
^(2)Denotes an Affiliate Investment. "Affiliate Investments" are investments
in those companies that are "Affiliated Companies" of GSV Capital Corp., as
defined in the Investment Company Act of 1940. A company is deemed to be an
"Affiliate" of GSV Capital Corp. if GSV Capital Corp. owns 5% or more but less
than 25% of the voting securities of such company.
                                                                  
^(3)On May 17, 2012, Facebook, Inc. priced its initial public offering,
selling 421,233,615 shares at a price of $38.00 per share. GSV Capital Corp.'s
shares in Facebook, Inc. are subject to a lock-up agreement that expires on
November 14, 2012. At September 30, 2012, GSV Capital Corp. valued Facebook
based on its September 28, 2012 closing price, less a discount for the lock-up
restriction.
                                                                  
^(4)On November 8, 2011, Groupon, Inc. priced its initial public offering,
selling 35,000,000 shares at a price of $20.00 per share. GSV Capital Corp.'s
shares in Groupon, Inc. are subject to a lock-up agreement that expired on
June 1, 2012. At September 30, 2012, GSV Capital Corp. valued Groupon, Inc.
based on its September 28, 2012 closing price.

CONTACT: Media:
         Kim Hughes
         (415) 516-6187
         kim@blueshirtgroup.com

         Investors:
         Alex Wellins
         (415) 217-5861
         alex@blueshirtgroup.com

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