Firsthand Technology Value Fund Discloses Top Portfolio Holdings

Firsthand Technology Value Fund Discloses Top Portfolio Holdings

SAN JOSE, Calif., Aug. 8, 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, disclosed today that its
top five holdings as of July 31, 2014 were Twitter, Facebook, IntraOp Medical,
Turn, and Pivotal Systems.

1.Twitter, Inc. (NYSE:TWTR)  is an online social networking service that
    lets users send and receive 140-character messages ("tweets"). As of July
    31, 2014, the Fund's investment in Twitter consisted of 1,006,200 shares
    of common stock plus options and represented approximately 22.4% of the
    Fund's estimated net assets.*
    
2.Facebook, Inc. (Nasdaq:FB)  is an online social networking service with
    more than 1 billion monthly active users worldwide. As of July 31, 2014,
    the Fund's investment in Facebook consisted of 600,000 shares of common
    stock and represented approximately 17.0% of the Fund's estimated net
    assets.*
    
3.IntraOp Medical Corp. is the manufacturer of the Mobetron, a medical
    device that is used to deliver intra-operative radiation to cancer
    patients. As of July 31, 2014, the Fund's investment in IntraOp consisted
    of 20,300,000 shares of preferred stock plus debt securities and
    represented approximately 8.6% of the Fund's estimated net assets.*
    
4.Turn Inc. is a leading provider of advertising technology to Fortune 1000
    marketers and their agencies. As of July 31, 2014, the Fund's investment
    in Turn consisted of 1,798,562 shares of preferred stock and represented
    approximately 5.8% of the Fund's estimated net assets.*
    
5.Pivotal Systems, Inc. provides monitoring and process control technologies
    for the semiconductor manufacturing industry. As of July 31, 2014, the
    Fund's investment in Pivotal consisted of 19,857,028 shares of preferred
    stock plus debt securities, and represented approximately 4.7% of the
    Fund's estimated net assets.*

The Fund also announced that, as of July 31, 2014, estimated net assets of the
Fund were approximately $257 million, or $28.28 per share, including cash of
approximately $3.93 per share. As of that date, the Fund's top five holdings
constituted 58.5% of the Fund's estimated net assets. Complete financial
statements and a detailed schedule of investments as of June 30, 2014, are
available with the Fund's quarterly report filing on Form 10-Q, available on
our website.

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.

*Estimated net assets as of July 31, 2014, represent net assets of
approximately $248 million as of June 30, 2014, plus the net change in
unrealized appreciation/depreciation and realized gains/losses on
publicly-traded securities since June 30, 2014. For the purposes of
calculating the percentage of net assets represented by each investment, the
value of each holding is determined by the most recent of: (1) the purchase
price, (2) the market value for public securities, less any discounts taken
due restrictions on the stock, or (3) the June 30, 2014, fair value of each
security, as determined under procedures approved by our Board of Directors.

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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