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GSV Growth Credit Fund board member steps down

Nasdaq Inc. Chairman and former CEO Robert Greifeld has stepped down from GSV Growth Credit Fund Inc.'s board, effective Jan. 20.

Greifeld's departure from the board was not the result of any disagreement with the company. Its investment adviser, GSV Growth Credit LLC, plans to appoint him to its board of managers.

GSV Growth Credit Fund's board appointed Lewis Solimene Jr. to fill Greifeld's vacancy. The board also expanded to five members with the additions of Julie Persily and Brian Laibow, who will serve until the company's 2018 and 2019 annual shareholder meetings, respectively.

Laibow's appointment was made as part of a stockholder agreement between the company and OCM Growth Holdings LLC. OCM Growth made a $125.0 million capital commitment to GSV Growth Credit Fund and will be entitled to nominate one board member as long as it is committed to fund an amount to the company or otherwise holds common shares equal to at least a third of its original commitment. Laibow is the first nominee under this agreement and serves on GSV Growth Credit LLC's board.