GSV Capital Provides Update on Portfolio Company Developments

GSV Capital Provides Update on Portfolio Company Developments

WOODSIDE, Calif., Oct. 3, 2013 (GLOBE NEWSWIRE) -- GSV Capital Corp. "GSV"
(Nasdaq:GSVC) today provided an update on news and developments from selected
companies within its investment portfolio of 45 primarily venture-backed
businesses. GSV Capital investment data provided is reported as of June 30,

Michael Moe, GSV's founder and Chief Executive Officer, stated, "There are a
number of exciting catalysts behind the companies in our portfolio, and we are
proud to be invested in what we believe are among the most dynamic VC-backed
growth businesses in the world. The companies in our portfolio are driving
powerful technological, commercial and social forces in today's growth

At present, there are two companies within GSV's portfolio that have announced
plans to go public:

  *Twitter, Inc., fair value of GSV Capital investment of $37.6 million,
    15.1% of net assets
  *Chegg, Inc., fair value of GSV investment of $14.0 million, 5.6% of net

In addition, Control4 Corporation (Nasdaq:CTRL), fair value of GSV Capital
investment of $7.5 million, 3.0% of net assets, and Violin Memory, Inc.
(NYSE:VMEM), fair value of GSV Capital investment of $14.4 million, 5.8% of
net assets, completed IPOs and began trading on August 2 and September 27,
2013, respectively.

Selected Portfolio Company Developments by Growth Investment Theme

GSV Capital's net assets totaled $248.6 million or $12.87 per share at June
30, 2013. The percentages of net assets by growth investment theme shown below
reflect portfolio holdings; the balance of 1.8% of net asset value represents
primarily cash holdings.

Education Technology, 33.0% of net assets as of June 30, 2013

  *2U, Inc.: 2U, an online education provider, announced it has partnered
    with University of California, Berkeley to launch the nation's first fully
    online masters program for data scientists. Graduates of the program will
    receive a Masters degree in Information and Data Sciences from UC
    Berkeley. Other investors in 2U include Redpoint Ventures, Highland
    Capital Partners, and Bessemer Venture Partners.
  *Coursera, Inc.: Coursera, pioneer and leader of the emerging MOOCs
    (massive open online courses) trend, announced that Lila Ibrahim, formerly
    of Kleiner Perkins Caufield & Byers, will assume the role of president.
    Coursera recently reached 25,000 signups and $1 million in revenue for its
    newly launched Signature Track.The company reached over three million
    monthly active users in its first year and now offers more than 400
    courses through 84 of the world's leading universities.Other investors in
    Coursera include Kleiner Perkins Caufield & Byers, New Enterprise
    Associates (NEA), the World Bank, and Yuri Milner.
  *Learnist Inc., (f/k/a Grockit, Inc.):Internet-based social learning
    platform Learnist reached the one million user milestone.Often recognized
    as the "Pinterest for education," Learnist was launched in May 2012 to
    encourage people to learn from and teach each other about a wide range of
    academic and casual learning topics.Additionally, Grockit recently sold
    its test prep technology to Kaplan, which will provide it additional
    capital to fuel the Learnist business.Learnist is backed by Benchmark
    Capital, Discovery Communications, Mark Pincus, and Reid Hoffman, among

Cloud and Big Data, 25.0% of net assets as of June 30, 2013

  *Dropbox, Inc.: Cloud-based storage provider Dropbox has expanded to over
    200 million users, up from 100 million in November 2012.The milestone was
    announced by CEO Drew Houston at the TechCrunch Disrupt 2013 conference in
    San Francisco.Dropbox investors include Sequoia Capital, Benchmark
    Capital, Greylock Partners, Institutional Venture Partners (IVP), and
  *SugarCRM, Inc.: CRM software platform company SugarCRM raised $40 million
    in a private equity round from Goldman Sachs.Capital raised to date by
    SugarCRM totals approximately $83 million from NEA, Draper Fisher
    Jurvetson, and others.

Social/Mobile, 22.2% of net assets as of June 30, 2013

  *Ozy Media, Inc.: Led by former MSNBC Anchor Carlos Watson, next generation
    media brand OZY has officially launched with financial backing from
    Laurene Powell Jobs, David Drummond, Dan Rosensweig and Ron Conway, in
    addition to GSV Capital.Ozy Media aspires to become the voice of the
    "change generation," a subset of 20-, 30- and 40-somethings that are
    driving the unexpected and the unconventional to great heights.
  *Twitter, Inc.: Twitter agreed to acquire mobile-focused advertising
    exchange MoPub Inc. in a stock transaction valued at approximately $350
    million.Twitter's largest investors include Kleiner Perkins Caufield &
    Byers, JP Morgan, DST Global, Morgan Stanley, and IVP.

Green Technology, 11.1% of net assets as of June 30, 2013

  *Bloom Energy Corporation: SoftBank is forming a joint venture with fuel
    cell technology provider Bloom Energy to bring the company's Energy
    Servers to Japan, its first overseas market.Bloom also announced a new
    leasing program with Bank of America Merrill Lynch for business customers
    to finance its clean energy projects.The company's investors include
    Kleiner Perkins Caufield & Byers, DAG Ventures, and NEA.

Internet Commerce, 6.9% of net assets as of June 30, 2013

  *Gilt Groupe, Inc.: Luxury flash sales destination Gilt announced the
    appointment of Tracey Weber as its new Chief Operating Officer.Ms. Weber
    is the former managing director of Citibank's North America Internet and
    mobile and global product.Gilt Groupe also recently debuted a
    user-specific personalization feature that presents the best daily options
    for shoppers based on factors such as purchase history, geographic
    location, and browsing behavior. Gilt Groupe investors include SoftBank,
    Goldman Sachs, and NEA.

Recent Convertible Notes Offering

In addition to selected portfolio developments, GSV Capital also commented on
its completion of a $69 million 5.25%Convertible Senior Notes offering on
September 17, 2013, including the full exercise of the over-allotment option.
Regarding the offering, Mr. Moe said, "We were thrilled to have the
opportunity to diversify our capital structure and add more institutions to
our investor base. We believe that the terms we were able to secure, as well
as the underwriter's exercise of their over-allotment option, represent
further market affirmation of GSV Capital's value proposition and potential. 
And, of course, we are delighted to have the additional resources to be able
to continue executing on our strategy of investing in high-growth,
venture-backed, private companies."

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's objective is to create a portfolio of
high-growth, emerging private companies via a repeatable and disciplined
investment process.GSV Capital provides investors with access to such
companies through its publicly traded common stock. The company is
headquartered in Woodside, CA.

The GSV Capital Corp. logo is available at

Forward-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.

CONTACT: Financial Profiles, Inc.
         Tricia Ross, 916-939-7285
         Kristen McNally, 206-623-2233

GSV Capital Corp. Logo
Press spacebar to pause and continue. Press esc to stop.