Monday, April 02, 2012

Firsthand Technology Value Fund Closes Investment in SolarCity





SAN JOSE, Calif., April 2, 2012 (GLOBE NEWSWIRE) -- Firsthand Technology Value Fund, Inc. (Nasdaq:SVVC) announced that it has completed the purchase of 120,000 shares of common stock of SolarCity Corporation, a leading installer of residential and commercial solar photovoltaic systems.

As of December 31, 2011, total net assets of the fund were approximately $84 million. Complete financial statements and a detailed schedule of investments, as of December 31, 2011, are available in the fund's annual report filing on Form 10-K, which was filed on March 21, 2012.

About Firsthand Technology Value Fund

Firsthand Technology Value Fund, Inc. (the "Fund") 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.