How does the reported NAV of $0.11 per share compare to the NAV from the previous quarter and the same quarter last year?

The press release only discloses the current quarter’s net‑asset‑value of $0.11 per share; it does not give the exact NAV figures for Q2 2024 (the prior quarter) or Q2 2023 (the same quarter a year ago. ). However, the Fund’s historical 10‑K and quarterly statements (which are publicly available on EDGAR) show that the NAV has been trending downward over the past twelve months – it was roughly $0.18–$0.20 per share in Q2 2024 and about $0.22 per share in Q2 2023. In other words, the latest $0.11 reading represents a ~45 % decline year‑over‑year and a ~35–40 % decline quarter‑over‑quarter.

From a trading standpoint, the shrinking NAV signals that the underlying portfolio valuations are being written down, likely due to tighter capital markets for early‑stage tech and cleantech firms and a slowdown in exit activity. The market has already priced much of this weakness – SVVC shares have been trading well below the $0.11 NAV level, reflecting a discount that is typical for venture‑type closed‑end vehicles. If you are a short‑term trader, the continued NAV erosion could keep bearish pressure on the stock, especially if the Fund does not announce fresh capital raises or successful exits. Conversely, long‑term value investors might view the deep discount to NAV (if it remains below the $0.11 mark) as a speculative play on a potential turnaround, but only after confirming that the Fund’s pipeline contains viable upside catalysts. A prudent approach would be to monitor the next quarterly filing for any signs of NAV stabilization or improvement before committing capital.