I've had a quick look at other comparables (LICs focused on...

I've had a quick look at other comparables (LICs focused on small/nano/VC) listed on the ASX. Understandably, there does seem to be a correlation with scale (market capitalisation) and the SP/NTA discount. This is likely because larger scale is correlated with success (growth over time), longevity, and also a lower expense ratio (MER). However, even when accounting for that, PVL appears to be very cheap with a discount much higher (~45% discount) than what should be expected (~22% discount) based on the trend line (see the scatter plot below). A 22% discount to 9c NTA would be a share price of ~7c.