Treasure Valuation Committee

Firsthand Technology Value Fund Announces Third Quarter Financial Results, NAV of $0.10 Per Share

Retrieved on: 
Tuesday, November 14, 2023

During the quarter, the Fund suffered material setbacks in IntraOp Medical Corp. and Wrightspeed, Inc., two of its largest holdings at the start of the quarter.

Key Points: 
  • During the quarter, the Fund suffered material setbacks in IntraOp Medical Corp. and Wrightspeed, Inc., two of its largest holdings at the start of the quarter.
  • Effective September 30, 2023, the Fund has entered into a fee waiver agreement with its investment adviser, Firsthand Capital Management, Inc. (“FCM”).
  • For the quarter ended September 30, 2023, the Fund reported a total investment loss of approximately $0.2 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $12.3 million for the quarter.

First Trust Announces Appointment of New Trustee for Funds

Retrieved on: 
Monday, September 11, 2023

The exchange-traded funds, closed-end funds, mutual funds and variable insurance funds (collectively, the “Funds”) advised by First Trust Advisors L.P. (“FTA”) announced the appointment of Ms. Bronwyn Wright as a Trustee of certain of the Funds, effective September 10, 2023.

Key Points: 
  • The exchange-traded funds, closed-end funds, mutual funds and variable insurance funds (collectively, the “Funds”) advised by First Trust Advisors L.P. (“FTA”) announced the appointment of Ms. Bronwyn Wright as a Trustee of certain of the Funds, effective September 10, 2023.
  • Ms. Wright has been appointed as a Trustee of all Funds except the exchange-traded funds included in the First Trust Exchange-Traded Fund and the First Trust Dynamic Europe Equity Income Fund, a closed-end fund.
  • The appointment is applicable to all exchange-traded funds, mutual funds and variable insurance funds included in the following trusts: First Trust Series Fund, First Trust Variable Insurance Trust, First Trust Exchange-Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange-Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Exchange-Traded AlphaDEX® Fund and First Trust Exchange-Traded AlphaDEX® Fund II.
  • In connection with the closed-end funds advised by FTA, Ms. Wright has been appointed as a Class III Trustee of the First Trust Senior Floating Rate Income Fund II, Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund, First Trust Energy Income and Growth Fund, First Trust Enhanced Equity Income Fund, First Trust/abrdn Global Opportunity Income Fund, First Trust Mortgage Income Fund, First Trust Specialty Finance and Financial Opportunities Fund, First Trust High Income Long/Short Fund, First Trust Energy Infrastructure Fund, First Trust MLP and Energy Income Fund, First Trust Intermediate Duration Preferred & Income Fund, First Trust New Opportunities MLP & Energy Fund and First Trust High Yield Opportunities 2027 Term Fund.

Firsthand Technology Value Fund Announces Second Quarter Financial Results, NAV of $1.61 Per Share

Retrieved on: 
Tuesday, August 15, 2023

During the second quarter of 2023, the Valuation Committee, which was composed of four directors, adjusted the fair values of the private companies in our portfolio.

Key Points: 
  • During the second quarter of 2023, the Valuation Committee, which was composed of four directors, adjusted the fair values of the private companies in our portfolio.
  • For the quarter ended June 30, 2023, the Fund reported a total investment gain of approximately $0.1 million.
  • After fees and expenses, the Fund reported a net investment loss of approximately $0.3 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $14.5 million for the quarter.

Firsthand Technology Value Fund Announces First Quarter Financial Results, NAV of $3.75 Per Share

Retrieved on: 
Monday, May 15, 2023

During the first quarter of 2023, the Valuation Committee, which was composed of four directors, adjusted the fair values of the private companies in our portfolio.

Key Points: 
  • During the first quarter of 2023, the Valuation Committee, which was composed of four directors, adjusted the fair values of the private companies in our portfolio.
  • For the quarter ended March 31, 2023, the Fund reported a total investment income of approximately $0.2 million.
  • After fees and expenses, the Fund reported a net investment loss of approximately $0.2 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $4.5 million for the quarter.

AFC Gamma, Inc. Announces Financial Results for First Quarter 2023

Retrieved on: 
Wednesday, May 10, 2023

WEST PALM BEACH, Fla., May 10, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma” or the “Company”) today announced its results for the quarter ended March 31, 2023.

Key Points: 
  • WEST PALM BEACH, Fla., May 10, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma” or the “Company”) today announced its results for the quarter ended March 31, 2023.
  • On April 14, 2023, the Company paid a regular cash dividend of $0.56 per common share for the first quarter of 2023.
  • AFC Gamma issued a presentation of its results for the first quarter of 2023, titled “First Quarter 2023 Earnings Presentation,” which can be viewed at www.afcgamma.com under the Investor Resources section.
  • AFC Gamma, Inc. will host a conference call at 10:00 am (Eastern Time) on Wednesday, May 10, 2023, to discuss its quarterly financial results.

Firsthand Technology Value Fund Announces Fiscal Year Financial Results, NAV of $4.44 Per Share

Retrieved on: 
Friday, March 31, 2023

During the fourth quarter of 2022, the Valuation Committee, which was composed of four independent directors, adjusted the fair values of the private companies in our portfolio.

Key Points: 
  • During the fourth quarter of 2022, the Valuation Committee, which was composed of four independent directors, adjusted the fair values of the private companies in our portfolio.
  • For the fiscal year ended December 31, 2022, the Fund reported a total investment loss of approximately $10.0 million.
  • After fees and expenses, the Fund reported a net investment loss of approximately $12.4 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $51.7 million for the year.

Orion Infrastructure Capital (OIC) Announces Eight Promotions as the Team Grows to Thirty-Seven People

Retrieved on: 
Tuesday, February 14, 2023

OIC, a leading North American infrastructure investment firm, has announced eight promotions over the last three months across its investment strategies.

Key Points: 
  • OIC, a leading North American infrastructure investment firm, has announced eight promotions over the last three months across its investment strategies.
  • As Group CFO, her purview includes all aspects of fund operations, accounting, financial reporting, valuation, budgeting, and forecasting.
  • Jonathan is part of the Infrastructure Equity team, and is responsible for evaluation, due diligence, execution, and monitoring of investments in the Infrastructure Equity strategy.
  • Ari is a member of the Infrastructure Credit team, Christopher is a member of the Infrastructure Equity team, and Harris is a member of the Infrastructure Growth team.

Firsthand Technology Value Fund Announces Third Quarter Financial Results, NAV of $5.58 per share

Retrieved on: 
Tuesday, November 15, 2022

For the three months ended September 30, 2022, the Fund reported a total investment loss of approximately $8.3 million.

Key Points: 
  • For the three months ended September 30, 2022, the Fund reported a total investment loss of approximately $8.3 million.
  • The Fund reported net realized and unrealized losses on investments of approximately $2.5 million for the quarter.
  • Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund that invests in technology and cleantech companies.
  • Under normal circumstances, the Fund will invest at least 80% of its total assets for investment purposes in technology and cleantech companies.

Peter McKellar Joins Bonaccord Capital Partners as Operating Partner

Retrieved on: 
Thursday, November 3, 2022

NEW YORK, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Bonaccord Capital Partners, a private equity business focused on acquiring non-control equity interests in middle-market private markets sponsors, is pleased to announce that Peter McKellar has joined the firm as an Operating Partner.

Key Points: 
  • NEW YORK, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Bonaccord Capital Partners, a private equity business focused on acquiring non-control equity interests in middle-market private markets sponsors, is pleased to announce that Peter McKellar has joined the firm as an Operating Partner.
  • In a few short years, Bonaccord has built a portfolio of exceptional middle-market sponsors, and I am excited to help the firm as an Operating Partner to support Bonaccord and its partner firms, said Peter McKellar.
  • Bonaccord Capital Partners (BCP) is a private equity firm focused on acquiring non-control equity interests in middle-market private markets sponsors spanning private equity, private credit, and real estate and real assets.
  • Bonaccord Capital Partners is a part of P10, Inc. (NYSE: PX), a leading multi-asset class private markets solutions provider in the alternative asset management industry.

Petra Funds Group Announces Two New Senior Leadership Hires

Retrieved on: 
Thursday, September 8, 2022

NEW YORK and BOSTON, Sept. 8, 2022 /PRNewswire/ -- Petra Funds Group ("Petra"), a leading independent provider of fund administration solutions, announced today that John Collins and Paul Winters joined the firm as Managing Partners. Mr. Collins and Mr. Winters previously were Partners of Denham Capital Management LP ("Denham"), a Boston-based private equity firm with over $12 billion of invested and committed capital.

Key Points: 
  • Mr. Collins commented on joining Petra: "Petra has a unique business model and the expertise the private investment funds industry is increasingly in need of.
  • Each office is led by senior executives with in-house experience working for private equity, venture capital, or private debt funds.
  • Petra Funds Group is a leading fund administration provider to global private equity, venture capital, and private debt funds.
  • Petra has offices in New York, London, Amsterdam, Los Angeles, and Boston and administers funds and structures in excess of $55 billion in assets.