Good day ladies and gentlemen and thank you for standing by. Welcome to the GSV Capital’s Second Quarter 2015 Earnings Conference Call. During today’s presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. This conference is being recorded today Thursday, August 6, 2015. I will now turn the conference over to Nick Franco of GSV Capital. Please go ahead sir.

Thank you for joining us on today’s call. I’m joined today by GSV Chairman, CEO and Chief Investment Officer Michael Moe; and Chief Financial Officer William Tanona. Please note that a slide presentation that corresponds to today’s prepared remarks by management is available on our website at www.gsvcap.com under Investors, Events & Presentations. Today’s call is being recorded and broadcasted live on our website www.gsvcap.com. Replay information is included in our press release issued earlier today. This call is the property of GSV Capital Corporation and the unauthorized reproduction of this call in any form is strictly prohibited. I’d also like to call your attention to customary disclosures in today’s earnings press release regarding forward-looking information. Statements made in today’s conference call and webcast may constitute forward-looking statements, which relate to future events or future performance or financial condition. These statements are not guarantees of our future performance, or future financial condition or results and involve a number of risks, estimates and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not limited to those described from time to time in the company’s filings with the SEC. Management does not undertake to update such forward-looking statements unless required to do so by law. To obtain copies of GSV Capital’s latest SEC filings, please visit the website at gsvcap.com or the SEC’s website at sec.gov. Now, I would like to turn the call over to Michael Moe.

Thank you, Nick, and good afternoon. We’re delighted to have the opportunity to share with you the results of a very strong quarter for GSV Capital, including achieving our highest per share NAV since inception for the second quarter in a row. First, I will review our portfolio as of June 30, 2015, then I will highlight some recent developments and update you on several investments. I’ll then turn it over to the Chief Financial Officer, Bill Tanona who will provide a brief financial overview and then open it up for questions. Let’s start with slides 3 and 4. As of June 30, 2015 our net assets were approximately $303.6 million or $15.72 per share. This is an increase from the previous NAV per share high last quarter of $15.66 and $14.86 at June 2014. Importantly we achieved this NAV per share high despite the $11.1 million decrease in the value of our remaining twitter shares held which start the quarter as our largest position. During the quarter we sold 400,000 shares of Twitter at an average net price of $51.52 recognizing approximately $13.7 million of net realized gains with resulted in a 43.5% IRR. We still hold 800,600 shares of Twitter and plan to continue to monetize our public and prior positions as we see the attractiveness our opportunities present themselves. The second quarter our top 10 positions accounted for approximately 57.4% of our total portfolio, consistent with prior quarters. Our three largest investments Palantir, 2U and DropBox represented 30% of the total portfolio. Palantir is a rapidly growing leader in Big Data analytics and security and is currently our largest position in the portfolio. Palantir’s platform has changed the way of organization data and has deployed in critical ways with government, commercial and non-profit organizations around the world.…

Thank you, Michael. Today I will be providing you with a brief financial overview and update on our current liquidity position and an update on the status of 851E application. Please now turn to Slide 13 for the financials as of June 30, 2015. Our NAV per share increased by $0.06 or 40 basis points quarter-over-quarter to a record high of $15.72 per share. This $0.06 increase was comprised of $0.71 per share of gross realized gains which were partially offset by $0.29 per share change in unrealized gains and $0.17 per share in net tax provisions related to those two items. Additionally we incurred $0.19 per share of net investment loss resulting from our ongoing operating expenses. In April 2015, GSV sold 400,000 shares of Twitter at an average net price of $51.52 per share for total net proceeds of $20.6 million. Our liquid assets ended the quarter at approximately $102.8 million consisting of $8 million of cash, $18 million of unused borrowings under our credit facility and $76.7 million of public securities not subject to lock-up agreements of which approximately $38.5 million are subject to periodic sales restrictions. Now I would like to spend a couple of minutes to give everyone an update on our RIC status. And ongoing priority for us is to be granted RIC status by the SEC. And as many of you are aware we resubmitted our A51E application to the SEC in December 2014 and in an effort to obtain certification be treated as a RIC for the 2013 taxable year. At the end of March, we received comments from the SEC regarding the re-submission of our application and are continuing to work with our attorney and the commission. For the past several months we have been engaged in an active dialog with…

Thank you. [Operator Instruction] And we will take our first question from Andy Ellner with JMP Securities.

Good afternoon, and thank you for taking my question. In absence of any near term resolution on the company’s RIC status and the potential to efficiently distribute realized gains to shareholders what actions have you and the board considered to create value to shareholders and improve performance at GSVC?

Well I mean first we are very, very focused on the most important thing we can possibly do is focus on investments and investments we made and the management of our portfolio, which again I think we are very pleased with the fundamentals, what’s going on there. Secondly, as it relates to RIC focus and distributions I think as Bill outlined we are working rapidly to get resolution and I think one way or another I think we are going to have that to be able to communicate in the short term what the end result is, but I think it's – we have gains, we have taxes that we have already booked provided that we didn't get the RIC status, [Indiscernible] that we do that would result in a pretty significant bump in NAV and as Bill outlined even if we didn't and we elected to pay taxes we still think there will be a modest increase in NAV. So I mean I think we are focused on the portfolio. We are focused on optimizing the NAV and we are looking forward to making distributions to our shareholders.

Our next question will be from Jeff Houston with Northline Capital Markets.

This is Andy filling in for Jeff. Thanks for taking my call. My question is, is there any uptake on the expected dividend scheduled for 2016?

Hi, Andy as we just indicated, you know, we are clearly looking for some hopeful resolution to our 2013 RIC status, but in the event that we don't get it, it would be our intention to elect RIC status in 2014 and beyond and therefore if applicable we could pay distribution from the amount that we just highlighted previously, which was 26.9 million but again that number could change based on additional net realized gains or realized losses that we …. That we earn here to the remainder of 2015.

[Operator Instructions] And we’ll go next to Ed Woo with Ascendiant Capital.

Yes thanks for taking my question. I just want to know you know right – for Silicon Valley. Just what are some of the bigger themes you are seeing right now and are there really concerns with some of the sky high valuation and what are some of the key themes that you think will persist through the rest of this year?

Yes, well what’s exciting to me about being here at Silicon Valley is of anything innovation is accelerating and its’ being driven by a number of powerful fundamentals and we as a firm are focussed on how we get involved with the companies and areas that have the strongest growth, the strongest fundamentals. You know themes that are quite significant, meaning the big data theme and Palantir is a great example of this, is an area of that offers tremendous amount of growth and opportunity and use powerful software that you know is allowing businesses to really be transformed and have real time data to be both competitive and great managers we are seeing all sort of interest themes. Companies in the big data areas, we also have investment in the company called Silicon Valley Data Sciences which is a spin-off [Indiscernible] which is consulting to our large organizations and you know government and so forth about big data issues. Also a company we invested in called [Indiscernible] literally President Obama just had [Indiscernible] present to the White House on Tuesday highlighting their very powerful technology and kind of look what they are able to do, I think it was one of three companies that they brought in and that itself is a great investment of ours. Yes other areas that continue to be very exciting [ph] I mean the education technology area is booming, right. And its’ booming for a number of key fundamental reasons and now as the economy, the global market place education is critical for the individual, for a company and for revenue and other country. And so for example the investment that we have in Coursera, and I was just at a meeting down there this morning. It’s wildly exciting what is going on from an online education standpoint to you reported that the results tonight. So I asked another theme that we’re very, very excited about the sharing economy, clearly our investment lift is a great example of what’s going on being able to leverage the billion smartphone. There are two billion smartphone, two billion people have smartphone and the build to basically leverage other assets whether when you are looking at [Indiscernible] what they are able to do with real estate or what we are able to do with cars, that’s a phenomenal theme. And I think sustainability is an area that is you know we’re very, very bullish in terms of new technologies and solar is obviously has got a number of competitors but I think an emerging theme is water. When you look at what water technology and we are here in California acutely aware of how critical water has but you know water technology is going to be bigger if opportunity and growth and then certainly an area of people’s focus.

It appears there are no further questions at this time. Mr. Moe, I’d like to turn the conference back to you for any additional or closing remarks.

Just again, we’re very appreciative of people’s attention and support of us. You know we’re delighted what’s going on at GSV Capital from a portfolio standpoint. We’re achieving second quarter role of record NAV we think is a strong indicator that the path we are on. We are working very hard trying to identify and get involved with great companies that can add value to the portfolio, can add to our NAV. And we look forward to answering questions to the people down the road and showing the kind of results that have earned people’s attention to us. So thank you very much, appreciate it and look forward to the follow ups. Bye.