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GSV Capital Corp. Reports Second Quarter 2013 Results Of Operations

Stocks in this article: GSVC

WOODSIDE, Calif., Aug. 7, 2013 (GLOBE NEWSWIRE) -- GSV Capital Corp., ("GSV" or the "Company") (Nasdaq:GSVC), today reported financial results for the second quarter ended June 30, 2013.

"We are pleased to report an increase in our net asset value of $0.18 to $12.87 per share for the second quarter, reflecting what we believe is the pre-IPO value creation that is a hallmark of the companies in our portfolio," said Michael Moe, GSV's founder and Chief Executive Officer. "Momentum is building as we believe several of these later stage companies approach exit, including Control4 (Nasdaq:CTRL) which successfully completed its IPO last Friday. We are equally enthusiastic about the prospects for the latest additions to our portfolio, including our new top ten investment position in online education provider Coursera."

Portfolio as of June 30, 2013

At June 30, 2013, the Company had positions in 45 portfolio companies at a collective fair value of $244.2 million. Out of GSV's 45 portfolio companies, the top 10 investments represented 62.8% of net asset value, and the top three investments represented 30.5% of net asset value. Net assets totaled $248.6 million or $12.87 per share at June 30, 2013, an increase of $0.18 per share from net assets of $12.69 per share at March 31, 2013.

Top Ten Investments at June 30, 2013
$ in millions Fair Value % of Net Asset Value
Twitter, Inc. $37.6 15.1%
Palantir Technologies, Inc. 23.0 9.3
Dropbox, Inc. 15.1 6.1
Violin Memory, Inc. 14.4 5.8
Chegg, Inc. 14.0 5.6
Solexel, Inc. 11.0 4.4
2U, Inc. (f/k/a 2tor, Inc.) 10.6 4.3
Avenues World Holdings LLC 10.4 4.2
Coursera, Inc. 10.0 4.0
Kno Inc. 9.9 4.0
Total $156.0 62.8%

Portfolio Investment Activity

During the second quarter of 2013, GSV invested in new portfolio companies Coursera, Inc., a massive online open course (MOOC) provider; AliphCom, Inc. (d/b/a Jawbone), a provider of smart devices; and oDesk Corporation, an online workplace platform. GSV also made additional investments in the following existing portfolio companies: ZocDoc Inc.; SugarCRM Inc.; Solexel, Inc.; Dailybreak, Inc., CUX Inc. (d/b/a CorpU); and AlwaysOn, Inc.

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