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GSV Capital Corp. Reports First Quarter 2013 Results Of Operations

Stocks in this article: GSVC

WOODSIDE, Calif., May 8, 2013 (GLOBE NEWSWIRE) -- GSV Capital Corp., ("GSV" or the "Company") (Nasdaq:GSVC), today reported financial results for the first quarter ended March 31, 2013.

"Dramatic growth and value creation are taking place in the private marketplace today, and GSV's value proposition enables investors to access many of the world's most dynamic, VC-backed companies," said Michael Moe, GSV's founder and Chief Executive Officer. "We are pleased with the growth and execution that our portfolio companies are delivering and we have great confidence in the long-term value that we believe is being created.  In our opinion, the fundamentals of the companies in our portfolio remain very strong overall and we believe there are a number of potential catalysts on the horizon."

Portfolio as of March 31, 2013

At March 31, 2013, the Company had positions in 45 portfolio companies at a fair value of $222.2 million. Additionally, the Company had cash and short-term investments of $22.8 million.

Out of GSV's 45 portfolio companies, the top 10 investments represented 60.6% of net asset value, and the top three investments represented 28.9% of net asset value. Net assets totaled $245.1 million or $12.69 per share at March 31, 2013.

Top Ten Investments at March 31, 2013
$ in millions Fair Value % of Net Asset Value
Twitter, Inc. $ 35.2 14.4%
Palantir Technologies, Inc. 20.6 8.4
Dropbox, Inc. 15.0 6.1
Chegg, Inc. 14.2 5.8
Violin Memory, Inc. 14.2 5.8
2U, Inc. (f/k/a 2tor, Inc.) 10.3 4.2
Avenues World Holdings LLC 10.0 4.1
Solexel, Inc. 10.0 4.1
Kno Inc. 9.9 4.0
Facebook, Inc. 9.0 3.7
 Total $ 148.4 60.6%

Portfolio Investment Activity

During the first quarter of 2013, GSV invested a total of approximately $3.4 million, plus transaction costs, in the following portfolio companies: SugarCRM Inc.; Fullbridge, Inc.; CUX Inc. (d/b/a CorpU); and AlwaysOn, Inc.

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