Firsthand Technology Grabs $1.6M Stake In Facebook

Law360, New York (October 19, 2011, 6:00 PM EDT) -- Firsthand Technology Value Fund Inc. has made an initial investment in Facebook Inc., acquiring approximately $1.6 million worth of shares in the social networking giant, the fund announced Wednesday.

Firsthand Technology is a publicly traded fund that focuses on privately held technology companies — a world in which there is no bigger prize than the elusive Facebook, whose shares are notoriously hard to come by on secondary markets.

“We've been in the tech sector business since 1994 and investing in private companies since 1999, so through...
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