Founded in 1999 as meVC Draper Fisher Jurveston Fund I, Inc., the Company originally sought to achieve long-term capital appreciation from venture capital investments in the information technology industry. With the downturn in the technology industry, the Board of Directors instituted a broader investment mandate to allow the Company greater flexibility to provide equity and debt financing to small and middle-market companies across multiple industries. In December 2002, the Company started doing business as MVC Capital. In 2003, Michael Tokarz and his team were recruited by the Board of Directors to implement this directional shift, make new investments and to stabilize the existing portfolio. In 2004, the Company officially changed its name to MVC Capital, Inc.
Starting in 2006, management of the portfolio shifted from an internal management structure to an external management structure, which continued to be managed by Michael Tokarz. The external adviser is The Tokarz Group Advisers LLC (TTGA), a regulated investment advisor registered with the Securities and Exchange Commission.
Today, MVC Capital is poised to capitalize on the growing strength of its capital structure to increase our investment activity in the middle market and position the Company for long-term growth.