Private Credit Portfolio Analysis | Firsthand Technology Value Fund Reports Q1 2025 Results
- Editor
- May 15
- 2 min read
Whats New:
Firsthand Technology Value Fund reported its Q1 2025 financial results, showing a significant decline in total assets and net asset value per share compared to the previous quarter. The fund's total assets decreased to $1.49 billion as of March 31, 2025, down from $1.80 billion at the end of 2024.
Portfolio Dynamics:
Total assets decreased to $1.49 billion as of March 31, 2025, compared to $1.80 billion at the end of 2024.
Investments owned at fair value declined to $698.17 million, down from $1.06 billion at the end of 2024.
Cash held in foreign currency remained relatively stable at $2,536, compared to $2,512 at the end of 2024.
Investment Activity:
Receivable from investment sales remained unchanged at $325,000.
Dividend and interest receivable decreased to $1,764 from $2,871 at the end of 2024.
Other assets increased to $464,166 from $404,756 at the end of 2024.
Capital Structure:
Total liabilities decreased to $654,414 from $734,934 at the end of 2024.
Common stock value remained unchanged at $6,893.
Additional paid-in capital remained stable at $176,770,722.
Performance Profile:
Net asset value per share decreased to $0.12 as of March 31, 2025, compared to $0.15 at the end of 2024.
Retained earnings deficit increased to $175,940,394 from $175,716,936 at the end of 2024.
Net loss for the quarter was $223,458.
Risk & Quality:
Management fee payable increased to $167,478 from $127,478 at the end of 2024.
Incentive fee payable rose to $34,584 from $27,587 at the end of 2024.
Accrued income taxes decreased to $86,654 from $139,154 at the end of 2024.
The Wrap:
Firsthand Technology Value Fund's Q1 2025 results reveal a challenging quarter with significant declines in total assets and net asset value per share. The fund experienced a decrease in investments owned at fair value and an increase in its retained earnings deficit. While some liabilities decreased, management and incentive fees payable increased, potentially indicating higher costs associated with the fund's operations despite the overall decline in asset value.
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