# Firsthand Capital Management, Inc.

> Firsthand Capital Management, Inc. is an SEC-registered investment advisory firm in San Jose, CA, registered since 2009, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated July 31, 2026.

- CRD: 150647
- Filed as: FIRSTHAND CAPITAL MANAGEMENT, INC.
- Also doing business as: FIRSTHAND CAPITAL MANAGEMENT, INC., FIRSTHAND VENTURE ASSOCIATES, LLC (RELYING ADVISER)
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Jose, CA
- Filing period: October 2026
- Form ADV filing dated: July 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/150647
- AdvisorCensus page: https://advisorcensus.com/firm/firsthand-capital-management-inc-san-jose-ca-150647

## Quick answers

**How is Firsthand Capital Management, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Firsthand Capital Management, Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Firsthand Capital Management, Inc. located?**
Firsthand Capital Management, Inc.'s principal office is in San Jose, CA, according to its Form ADV.

**Is Firsthand Capital Management, Inc. registered with the SEC or a state?**
Firsthand Capital Management, Inc. is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 150647.

**How much does Firsthand Capital Management, Inc. manage?**
Firsthand Capital Management, Inc. reports $58,567,545 in regulatory assets under management in its Form ADV filing dated July 31, 2026 (100% discretionary).

**How have Firsthand Capital Management, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Firsthand Capital Management, Inc.: Regulatory assets under management: $489,545,146 in the October 2021 data and $58,567,545 in the October 2026 data, down 88%. Total employees: 12 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Firsthand Capital Management, Inc. serve?**
By number of clients on Form ADV Item 5.D: investment companies (2); business development companies (1).

**Does Firsthand Capital Management, Inc. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/150647

**What changed in Firsthand Capital Management, Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $51,089,718 to $58,567,545 (+15%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $58,567,545
- Discretionary: $58,567,545
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | Not reported |
| High net worth individuals | Fewer than 5 | Not reported |
| Banking or thrift institutions | Fewer than 5 | Not reported |
| Investment companies | 2 | $58,567,545 |
| Business development companies | 1 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | Not reported |
| Charitable organizations | Fewer than 5 | Not reported |
| State or municipal government entities (including government pension plans) | Fewer than 5 | Not reported |
| Other investment advisers | Fewer than 5 | Not reported |
| Insurance companies | Fewer than 5 | Not reported |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | Not reported |
| Corporations or other businesses not listed above | Fewer than 5 | Not reported |
| Other | Fewer than 5 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2009 (17 years)
- Employees: 5 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- firsthandcapital.com
- firsthandfunds.com
- firsthandtvf.com
- LinkedIn @FIRSTHAND-CAPITAL-MANAGEMENT
- X @FIRSTHANDSVVC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $489,545,146 | 12 | March 30, 2021 |
| October 2022 | $389,956,072 | 11 | March 30, 2022 |
| October 2023 | $127,865,967 | 7 | March 30, 2023 |
| October 2024 | $86,104,605 | 5 | March 29, 2024 |
| October 2025 | $51,089,718 | 5 | March 28, 2025 |
| October 2026 | $58,567,545 | 5 | July 31, 2026 |

Regulatory assets under management: $489,545,146 in the October 2021 data and $58,567,545 in the October 2026 data, down 88%.
Total employees: 12 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $51,089,718 to $58,567,545 (+15%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Firsthand Capital Management, Inc. (CRD 150647): Form ADV filing data as of October 2026.