If you’re looking to invest in Facebook before its IPO but not privy to the secondary markets where shares of the company have been trading, there’s a new (albeit somewhat indirect) way to buy a stake.
The publicly traded investment fund GSV Capital announced on Monday that it has purchased 225,000 shares of Facebook at a price of $29.28 per share, which values the social network at $70 billion.
The investment represents about 15% of GSV’s portfolio — enough to drive up shares of GSV (which trades on NASDAQ under the symbol GSVC) by more than 30% as of midday trading on Monday.
GSV does not currently show any other companies in its “portfolio” on its site, but the firm also recently announced an investment in Kno, a digital textbook outfit that raised $46 million in a round led by Andreessen Horowitz last year.
In a statement issued today, the company says it is “presently in the final stages with a handful of private company investments that it anticipates acquiring within the next 30 days.”
More About: facebook, investing, ipo
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The investment represents about 15% of GSV’s portfolio
what else? trading costs?
+ I don’t like the risks.