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WOODSIDE, Calif., April 10, 2014 (GLOBE NEWSWIRE) --
GSV Capital Corp. ("GSV") (Nasdaq:GSVC), today provided a mid-quarter business commentary and update on developments from a selection of the private companies in its investment portfolio. GSV Capital investment data is reported as of December 31, 2013, unless explicitly stated otherwise.
Michael Moe, GSV's founder and Chief Executive Officer, stated, "Since the beginning of the year, we've invested in several new portfolio companies that we believe are consistent with our objective of investing in the world's premier, venture-backed, growth-companies; which we call the stars of tomorrow.
"We are excited about our $5 million investment in ride-sharing service Lyft as part of its recent $250 million growth round which was led by Coatue Management, Third Point, and Alibaba. Existing investors Andreessen Horowitz, Founders Fund, and Mayfield also participated. We believe that Lyft is on the forefront of the Sharing Economy trend and is disrupting traditional transportation. Lyft has created its own cultural trend that, in our opinion, offers a unique and highly compelling ride sharing experience."
Michael Moe continued to say, "We also made a $6 million investment in General Assembly, as part of their $35 million dollar round led by IVP. General Assembly is a rapidly growing global community of individuals who participate in immersion programs that teach the most relevant 21
st Century skills.
"In addition to these portfolio developments, we are in the final stages of negotiations with a handful of investments that we may complete within the next 30 to 60 days.
"We seek to realize capital gains this year by monetizing certain investments that have appreciated significantly, such as Twitter and Control4," Moe continued. "Currently our shares sell at a discount to stated net asset value and our focus is to continue to build value with our portfolio and close the gap between share price and fair value."