Private Credit Portfolio Analysis | Firsthand Technology Value Fund Reports FY 2024 Results
- Editor
- Mar 26
- 2 min read
Whats New:
Firsthand Technology Value Fund has reported its fiscal year 2024 financial results, showing a decrease in total assets and cash position. The fund experienced a net loss of $199,692 for the year, with significant changes in realized and unrealized gains/losses on investments.
Portfolio Dynamics:
Total assets decreased to $2,512 as of December 31, 2024, compared to $2,765 at the end of 2023.
Cash and cash equivalents declined to $2,512 from $2,765 at the end of 2023.
The fund reported a net loss of $199,692 for the fiscal year 2024.
Investment Activty:
Realized loss on investments was $11,686,668 for fiscal year 2024.
Unrealized gain on investments was $9,611,554 for the same period.
The fund made payments of $2,441 for purchase of investments during the year.
Capital Structure:
Management fee payable increased by $127,478 during the fiscal year.
Due to affiliates decreased by $7,156,195 over the course of the year.
Other accounts payable and accrued liabilities increased by $215,668.
Performance Profile:
Net loss for fiscal year 2024 was $199,692, an improvement from the $29,349,220 loss in 2023.
The fund reported proceeds of $6,272,667 from sale of securities during the year.
Payments for proceeds from short-term investments amounted to $672,035.
Risk & Quality:
The fund's cash position decreased by $253 during the fiscal year.
Receivable for investment sold increased by $325,000 over the year.
Other operating assets increased by $341,107 during the fiscal period.
The Wrap:
Firsthand Technology Value Fund's fiscal year 2024 results reflect a challenging period with decreased total assets and cash position. While the fund reduced its net loss compared to the previous year, it still faced significant realized losses on investments. The fund's investment activities and changes in liabilities indicate ongoing portfolio adjustments and management of financial obligations.
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