GSV Capital Corp. Provides an Update on Portfolio Company Developments for the Period Since September 30, 2015
February 10, 2016: 04:10 PM ET
WOODSIDE, Calif., Feb. 10, 2016 (GLOBE NEWSWIRE) -- GSV Capital Corp. (“GSV Capital” or the “Company”) (Nasdaq:GSVC) today provided an update from a selection of the private companies in its investment portfolio for the period since September 30, 2015.
As previously reported, GSV Capital’s net assets totaled $312.5 million, or $16.17 per share,1 at September 30, 2015.
Knewton, Inc.: Knewton, the global leader in adaptive learning, raised a $52 million Series F round led by Sofina and with participation from Atomico, Accel Partners, Bessemer Venture Partners, EDBI, FirstMark, Founders Fund, and TAL Education Group. The additional financing will allow the company to expand its international infrastructure to meet the global demand for adaptive learning technology. In January 2016, TAL Education Group, a leading K–12 after-school tutoring services provider in China, announced a strategic investment in Knewton.
Cloud and Big Data
Palantir Technologies Inc.: Palantir, a data-analytics platform used by law enforcement, government agencies, financial services firms, and healthcare industries, raised $129 million of additional funding, totaling $880 million of funding to date in its latest round. With an estimated $20 billion valuation, Palantir is considered to be the third-most valuable venture capital backed private company in the United States.
Spotify Technology S.A.: Music-streaming company Spotify announced that it is expanding its offerings to include video content for smartphones in the United States, United Kingdom, Denmark, and Sweden. The company also acquired startups Soundwave and Cord Project in January 2016. To date, Spotify has raised over $1 billion in funding.
AliphCom, Inc. (d/b/a Jawbone): Wearable-technology company Jawbone raised $165 million in funding at a reported valuation of $1.5 billion in January 2016. The company plans to fund operations, growth and new product development with its new financing.
Gilt Groupe Holdings, Inc.: Gilt Groupe, a luxury fashion sales website, sold for $250 million to Hudson’s Bay Co., the parent company of Saks Fifth Avenue, in January 2016. Founded in 2007, Gilt Groupe was one of the originators of the flash-sale model.
Lyft, Inc.: Lyft, the San Francisco-based ridesharing startup, announced a new $1 billion Series F funding round. General Motors made a $500 million investment, advancing their initiatives to create a network of self-driving vehicles. Lyft has also made strategic global partnerships with Didi Kuaidi in China, GrabTaxi in Southeast Asia, and Ola in India. Investors to date include Kingdom Holding Co., Janus Capital Management, Rakuten, Alibaba, and Didi Kuaidi.
Bloom Energy Corp.: Bloom Energy, a manufacturer of fuel-cell power plants, announced an agreement to install a 750-kilowatt fuel-cell system at Morgan Stanley’s headquarters in New York City. The project is expected to be completed in late 2016, and will be Bloom Energy’s first installation in a high-rise office tower. Bloom Energy currently has more than 200 projects in the United States and Japan.
About GSV Capital Corp.
GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. Led by industry veteran Michael Moe, the fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. GSV Capital is headquartered in Woodside, CA. www.gsvcap.com
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of our future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC. GSV Capital Corp. undertakes no duty to update any forward-looking statements made herein, unless required to do so by law.
1 GSV Capital’s NAV as of September 30, 2015 does not take into account the $2.76 cash and stock dividend paid on December 31, 2015.
GSV Capital Corp.