Firsthand Technology Value Fund Announces Second Quarter 2014 Financial Results, NAV of $27.30 Per Share

Firsthand Technology Value Fund Announces Second Quarter 2014 Financial
Results, NAV of $27.30 Per Share

SAN JOSE, Calif., Aug. 7, 2014 (GLOBE NEWSWIRE) -- 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 second quarter ended June 30, 2014.

As of June 30, 2014, the Fund's net assets were approximately $247.7 million,
or $27.30 per share, compared with net assets of approximately $248.9 million,
or $27.43 per share as of March 31, 2014. As of June 30, 2014, the Fund's
portfolio included public and private securities valued at approximately
$211.4 million, or $23.30 per share, and approximately $42.1 million, or $4.64
per share, in cash.

Portfolio Summary (as of 6/30/14)

Investment              Fair Value      Fair Value
                                        per Share^1
Equity/Debt Investments $211.42 million $23.30
Cash                    $42.06 million  $4.64
Other Assets            $2.63 million   $0.29
Total Assets            $256.11 million $28.23
Total Liabilities       $8.44 million   $0.93
Net Assets              $247.67 million $27.30

^1Total shares outstanding: 9,072,032

During the quarter, the Valuation Committee, which is composed of three
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 920 (formerly FAS 157), the Valuation
Committee took into account 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.

In the second quarter of 2014 the Fund earned approximately $467,821 in
interest income and $36,617 in royalty income. The Fund reported a net
investment loss of approximately $2,099,832. The Fund reported a net realized
and unrealized gain on investments of approximately $885,390 for the quarter.

Throughout the quarter, the Fund continued its efforts to manage its portfolio
prudently, including working with its portfolio companies and their management
teams to seek to enhance performance and uncover potential exit opportunities.

About Firsthand Technology Value Fund

Firsthand Technology Value Fund, Inc. is a publicly-traded venture capital
fund that invests in technology and cleantech companies. More information
about the Fund and its holdings can be found online at www.firsthandtvf.com.

The Fund is a non-diversified, closed-end investment company that elected to
be treated as a business development company under the Investment Company Act
of 1940. The Fund's investment objective is to seek long-term growth of
capital. Under normal circumstances, the Fund will invest at least 80% of its
total assets for investment purposes in technology and cleantech companies.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release
contains "forward-looking statements" as defined under the U.S. federal
securities laws. Generally, the words "believe," "expect," "intend,"
"estimate," "anticipate," "project," "will," and similar expressions identify
forward-looking statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to materially differ from the Fund's historical
experience and its present expectations or projections indicated in any
forward-looking statement. These risks include, but are not limited to,
changes in economic and political conditions, regulatory and legal changes,
technology and cleantech industry risk, valuation risk, non-diversification
risk, interest rate risk, tax risk, and other risks discussed in the Fund's
filings with the SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Fund undertakes
no obligation to publicly update or revise any forward-looking statements made
herein. There is no assurance that the Fund's investment objectives will be
attained. We acknowledge that, notwithstanding the foregoing, the safe harbor
for forward-looking statements under the Private Securities Litigation Reform
Act of 1995 does not apply to investment companies such as us.

CONTACT: Heather Hohlowski
         Firsthand Capital Management, Inc.
         (408) 624-9525
         vc@firsthandtvf.com

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