-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U89fviCB0Lmp0PGHn1uBaV1c5Q4s1cgvx4KoSXvP3+UjzovIAryKqcUl67mdcu+q fxS+CFLg9zr5SOBC75bmNQ== 0001048703-02-000098.txt : 20020610 0001048703-02-000098.hdr.sgml : 20020610 20020607153322 ACCESSION NUMBER: 0001048703-02-000098 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020607 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KARPUS MANAGEMENT INC CENTRAL INDEX KEY: 0001048703 IRS NUMBER: 161290550 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 14 TOBEY VILLAGE OFFICE PARK CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 7165864680 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEVC DRAPER FISHER JURVESTON FUND I INC CENTRAL INDEX KEY: 0001099941 IRS NUMBER: 943333311 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78303 FILM NUMBER: 02673696 BUSINESS ADDRESS: STREET 1: 991 FOLSOM ST STREET 2: STE 301 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 4159776150 MAIL ADDRESS: STREET 1: 991 FOLSOM ST CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: MEVC DRAPER FISHER JURVETSON FUND I INC DATE OF NAME CHANGE: 19991207 SC 13D/A 1 mvc06-02.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities and Exchange Act of 1934 meVC Draper Fisher Jurvetson Fund (Name of Issuer) Common Stock (Title of Class of Securities) 55271E105 (CUSIP Number) George W. Karpus, President Karpus Management, Inc. d/b/a Karpus Investment Management 183 Sullys Trail Pittsford, New York 14534 (716) 586-4680 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) June 7, 2002 (Date of Event which Requires Filing of this Statement) If the person has previously filed a statement on Schedule 13G to report the Acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [ ] (Page 1 of 5 pages) There are no exhibits. ITEM 1 Security and Issuer Common Stock meVC Draper Fisher Jurvetson Fund meVC Advisors, Inc. 901 Folsom Street, Suite 101 San Francisco, CA 94107 ITEM 2 Identity and Background a) Karpus Management, Inc. d/b/a Karpus Investment Management (?KIM?) George W. Karpus, President, Director and Controlling Stockholder JoAnn VanDegriff, Vice President and Director Sophie Karpus, Director b) 183 Sullys Trail Pittsford, New York 14534 c) Principal business and occupation - Investment Management for individuals, pension and profit sharing plans, corporations, endowments, trust and others, specializing in conservative asset management (i.e. fixed income investments). d) None of George W. Karpus, JoAnn VanDegriff, or Sophie Karpus (?the Principals?) or KIM has been convicted in the past five years of any criminal proceeding (excluding traffic violations). e) During the last five years none of the principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgment, decree or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. f) Each of the Principals is a United States citizen. KIM is a New York corporation. ITEM 3 Source and Amount of Funds or Other Considerations KIM, an independent investment advisor, has accumulated shares of MVC on behalf of accounts that are managed by KIM (?the Accounts?) under limited powers of attorney. All funds that have been utilized in making such purchases are from such Accounts. ITEM 4 Purpose of Transaction a) KIM has purchased Shares for investment purposes. Being primarily a fixed income manager, with a specialty focus in the closed end fund sector, the profile of MVC fit the investment guidelines for various Accounts. Shares have been acquired since October 31, 2000. b) Although originally purchased for investment purposes only, concerns regarding the fund?s large fee compensation, large cash holdings and the market price?s wide discount to net asset value prompted KIM to approach management. During April of 2002 KIM conversed with management several times, via phone and e-mail, regarding our concerns. ITEM 5 Interest in Securities of the Issuer A) As of the date of this Report, KIM owns 447,985 shares, which represents 2.72% of the outstanding Shares. Karpus Investment Management Profit Sharing Plan presently owns 3350 shares purchased on December 20, 2000 at $9.94 (500 shares), January 17, 2001 at $11.69 (100 shares), February 7 and 8 at $11.68 (900 shares), March 16 at $10.80 (200 shares), March 22 at $9.97 (100 shares), March 23 at $10.63 (50 shares), March 27 at $10.46 (300 shares), March 28 at $10.20 (100 shares), April 30 at $11.30 (200 shares), May 2 at $11.05 (50 shares), September 21 at $9.60, January 9 and 10, 2002 at $9.94 (100 shares), January 11 at $9.82 (100 shares), January 14 at $9.80 (50 shares), January 15 at $9.76 (50 shares), January 16 at $9.56 (50 shares), January 17 at $9.61 (100 shares), January 18 at $9.60 (200 shares), January 29 at $9.47 (50 shares), and May 5 at $8.85 (50 shares). George W. Karpus presently owns 2275 shares purchased on December 28, 2001 at $9.88 (1000 shares), January 10, 2002 at $9.93 (50 shares), January 15 at $9.76 (50 shares), January 18 at $9.61 (100 shares), January 29 at $9.47 (50 shares), February 20 and 21 at $8.83 (1000 shares), and March 21 at $8.94 (25 shares). None of the other Principles of KIM presently owns shares of MVC. b) KIM has the sole power to dispose of and to vote all of such Shares under limited powers of attorney. c) Open market purchases for the last 60 days for the Accounts. There have been no dispositions and no acquisitions, other than by such open market purchases, DATE SHARES PRICE PER DATE SHARES PRICE PER SHARE SHARE 4/1/2002 - -900 9.86 5/2/2002 125 9.42 4/2/2002 - -5725 9.65 5/10/2002 4780 9.41 4/4/2002 - -100 9.63 5/13/2002 1600 9.41 4/9/2002 - -680 9.7 5/14/2002 500 9.43 4/12/2002 - -2050 9.77 5/16/2002 2500 9.43 4/12/2002 600 9.7 5/17/2002 300 9.42 4/17/2002 - -325 10.02 5/21/2002 150 9.3 4/17/2002 150 10.03 5/24/2002 - -2575 9.34 4/18/2002 150 10.01 5/24/2002 1225 9.35 4/22/2002 1400 9.81 5/28/2002 - -200 9.34 4/24/2002 - -750 9.98 5/31/2002 - -300 9.39 4/30/2002 200 9.43 * Shares from 4/24 were transferred out of our firm. The Accounts have the right to receive all dividends from, any proceeds from the sale of the Shares. KIM reserves the right to further accumulate or sell shares. None of the Accounts has an interest in shares constituting more than 5% of the Shares outstanding. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer. Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of MVC Securities. ITEM 7 Materials to be Filed as Exhibits Not applicable. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. Karpus Management, Inc. June 7, 2002 By:________________________ Date Signature Scott D. Nasca, Corporate Vice President Name/Title -----END PRIVACY-ENHANCED MESSAGE-----