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Silicon Valley Bank Provides $18MM Credit Facility to GSV Capital

January 23, 2014, 07:46 AM
Filed Under: Investment Financing

GSV Capital Corp. announced that it has entered into a new $18 million senior secured credit facility with Silicon Valley Bank.

Effective as of December 31, 2013, GSV entered into a Loan and Security Agreement (the "Loan Agreement"), with Silicon Valley Bank for a new $18 million senior secured credit facility (the "Credit Facility"). Under the Credit Facility, GSV is permitted to borrow up to $18 million.

The Credit Facility, among other things, matures on December 31, 2016, and bears interest at a per annum rate equal to the greater of (i) the prime rate plus 4.75% and (ii) 8.0%. In addition, a fee of $180,000 per annum (1.0% of the $18 million revolving line of credit) is charged under the Loan Agreement.

Michael Moe, GSV's founder and Chief Executive Officer, stated, "Meaningful catalysts are driving the growth of our portfolio companies. The robust IPO market has continued to provide a good environment for a number of our portfolio companies to consider going public. We are proud to be early investors in what we believe are some of the world's future tech leaders – dynamic venture-backed growth businesses that are capitalizing on megatrends in the global economy. Our recent credit facility also provides us with additional financial flexibility to continue to invest in the companies that we believe have the potential to be the stars of tomorrow."

GSV Capital Corp. (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.

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