GSV Growth Credit Fund Inc entered an investment advisory agreement with GSV Growth Credit LLC, its affiliate company.

GSV Growth Credit LLC will serve as an external investment adviser, managing the company's day-to-day operations and providing investment advisory services for a fee comprising a base management fee and an incentive fee. The base management fee will be calculated based on the average of the amount of capital commitments and assets bought with borrowed funds or other forms of leverage during the preceding calendar year. It will be payable on the first day of each calendar quarter.

For the incentive fee, GSV Growth Credit LLC will receive a share of the income it generates for the company and will consist of an investment-income component and a capital-gains component. The components will be independent of each other. The companies entered into the agreement Dec. 15, the initial term of the agreement being for two years.

GSV Growth Credit Fund also signed a custody agreement with U.S. Bank National Association on Dec. 16. On the same day, the company delivered a capital drawdown notice to its investors in connection with the issuance of 333,333.33 shares of its common stock, par value 1 cent per share for an aggregate offering price of $5 million. The shares are expected to be issued on or around Dec. 23 and no commissions will be paid for the sale.