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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001005477-08-002406.txt : 20080320
<SEC-HEADER>0001005477-08-002406.hdr.sgml : 20080320
<ACCEPTANCE-DATETIME>20080320201338
ACCESSION NUMBER:		0001005477-08-002406
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070105
FILED AS OF DATE:		20080320
DATE AS OF CHANGE:		20080320

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MVC CAPITAL, INC.
		CENTRAL INDEX KEY:			0001099941
		IRS NUMBER:				943346760
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		RIVERVIEW AT PURCHASE
		STREET 2:		287 BOWMAN AVENUE, 3RD FLOOR
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
		BUSINESS PHONE:		914-701-0310

	MAIL ADDRESS:	
		STREET 1:		RIVERVIEW AT PURCHASE
		STREET 2:		287 BOWMAN AVENUE, 3RD FLOOR
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEVC DRAPER FISHER JURVETSON FUND I INC
		DATE OF NAME CHANGE:	19991207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEVC DRAPER FISHER JURVETSON FUND I INC
		DATE OF NAME CHANGE:	19991207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CANNELL J CARLO
		CENTRAL INDEX KEY:			0001287649

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00201
		FILM NUMBER:		08703928

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		4158358301

	MAIL ADDRESS:	
		STREET 1:		240 E. DELONEY AVENUE
		STREET 2:		P.O. BOX 3459
		CITY:			JACKSON
		STATE:			WY
		ZIP:			83001
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-01-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001099941</issuerCik>
        <issuerName>MVC CAPITAL, INC.</issuerName>
        <issuerTradingSymbol>MVC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001287649</rptOwnerCik>
            <rptOwnerName>CANNELL J CARLO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>240 E. DELONEY AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 3459</rptOwnerStreet2>
            <rptOwnerCity>JACKSON</rptOwnerCity>
            <rptOwnerState>WY</rptOwnerState>
            <rptOwnerZipCode>83001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2007-01-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.70</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2611800</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Partnerships and Corporations</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">THIS FORM 4 (THE &quot;CURRENT FORM 4&quot;) SETS FORTH THAT ONLY J. CARLO CANNELL IS  THE  REPORTING  PERSON  FOR  THE  SECURITIES REPORTED HEREIN AS OF JANUARY 5, 2007.  CONCURRENTLY  WITH THE FILING OF THIS CURRENT FORM 4 WITH THE SECURITIES AND EXCHANGE COMMISSION  (&quot;SEC&quot;),  MR. CANNELL HAS CAUSED AN AMENDED FORM 4 TO BE FILED ON BEHALF OF CANNELL CAPITAL, LLC WHICH AMENDS AND RESTATES THE FORM 4 FILED WITH THE SEC ON JANUARY 9, 2007 WITH RESPECT TO MVC CAPITAL, INC. AND REPORTS THAT ONLY MR. CANNELL IS THE REPORTING PERSON FOR THE SECURITIES REPORTED THEREIN.</footnote>
        <footnote id="F2">As of  January 5, 2007, Anegada Master Fund Ltd. (&quot;Anegada&quot;), Pleiades Partners, L.P. (&quot;Pleiades&quot;), TE Cannell Portfolio, Ltd. (&quot;TE Cannell&quot;), The Cuttyhunk Fund Limited (&quot;Cuttyhunk&quot;), and Tonga Partners, L.P. (&quot;Tonga&quot; and collectively with Anegada, Pleiades, TE Cannell, and Cuttyhunk, the &quot;Funds&quot;) held in the aggregate 2,611,800 shares of common stock, par value $.01 per share (the &quot;Shares&quot;), of MVC Capital, Inc. (the &quot;Company&quot;).  J. Carlo Cannell possesses sole power to vote and direct the disposition of all securities of the Company held by the Funds. Thus, for the purposes of Reg. Section 240.13d-3, as of January 5, 2007, Mr. Cannell is deemed to beneficially own 2,611,800 Shares.  Mr. Cannell's interest in the securities reported herein is limited to the extent of his pecuniary interest in each of the Funds, if any.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ J. Carlo Cannell</signatureName>
        <signatureDate>2008-02-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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