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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 oDEelvL2Y4LlW4UqQJtTzA==

<SEC-DOCUMENT>0001287649-06-000010.txt : 20060309
<SEC-HEADER>0001287649-06-000010.hdr.sgml : 20060309
<ACCEPTANCE-DATETIME>20060309190507
ACCESSION NUMBER:		0001287649-06-000010
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060307
FILED AS OF DATE:		20060309
DATE AS OF CHANGE:		20060309

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:		06677241

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		4158358301

	MAIL ADDRESS:	
		STREET 1:		150 CALIFORNIA STREET 5TH FL
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-03-07</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>150 CALIFORNIA STREET 5TH FL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1608000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Through one or more funds</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <remarks>This is a filing by J. Carlo Cannell (&quot;Cannell&quot;).  Mr. Cannell has sole voting and investment control over all securities owned by The Cuttyhunk Fund Limited (&quot;Cuttyhunk&quot;), the Anegada Master Fund, Ltd. (&quot;Anegada&quot;), TE Cannell Portfolio, Ltd. (&quot;TEC&quot;) and Tonga Partners, L.P. (&quot;Tonga&quot; and, collectively, with Cuttyhunk, Anegada and TEC, the &quot;Funds&quot;).  Cuttyhunk owns 776,000 shares, Anegada owns 628,350 shares, TEC owns 411,500 shares, and Tonga owns 979,650 shares.  Mr. Cannell's interest in the shares held by the Funds is limited to the extent of his pecuniary interest therein.</remarks>

    <ownerSignature>
        <signatureName>J. Carlo Cannell</signatureName>
        <signatureDate>2006-03-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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