Key Takeaways
- • Hercules Adviser LLC, the wholly-owned registered investment adviser of Hercules Capital (NYSE: HTGC), completed the first close of Hercules Growth Lending Fund IV LP, its fourth institutional private credit fund in five years.
- • With Fund IV, Hercules Adviser now manages four private credit funds with approximately $1.6 billion in committed debt and equity capital.
- • Hercules Capital and Hercules Adviser together reported more than $5.0 billion in assets under management as of March 31, 2025.
- • Since inception, Hercules Capital, directly and through funds managed by Hercules Adviser, has committed over $22.0 billion to more than 680 portfolio companies, emphasizing first-lien structures and downside protection.
- • Fund IV targets venture and growth stage technology and life sciences companies, with CEO and CIO Scott Bluestein citing leading institutional investor support for the first close.
Summary
Hercules Capital, Inc. (NYSE: HTGC) announced that Hercules Adviser LLC, its wholly-owned registered investment adviser, completed the first close of Hercules Growth Lending Fund IV LP ("Fund IV"), a venture and growth stage credit fund. The close was completed with leading institutional investors, according to the company's press release distributed via Business Wire. The release describes Fund IV as the fourth institutional private credit fund launched by the adviser in five years.
Following the launch of Fund IV, Hercules Adviser manages four private credit funds with approximately $1.6 billion in committed debt and equity capital. Hercules Capital and Hercules Adviser together had more than $5.0 billion in assets under management as of March 31, 2025. Since its December 2003 inception, Hercules Capital, directly and through funds managed by Hercules Adviser, has committed over $22.0 billion to more than 680 portfolio companies, with a stated focus on first-lien structures and downside protection.
Scott Bluestein, chief executive officer and chief investment officer of Hercules, said the first close "reflects the strength of our differentiated investment platform and the confidence our partners have in our disciplined approach to venture and growth stage lending." He added that the firm sees "enormous opportunity to continue to back venture and growth stage technology and life sciences companies." According to the release, the fund will leverage Hercules Capital's scale, industry relationships and underwriting framework to support companies at inflection points in their growth trajectory.
The release notes that Hercules Adviser is registered under the Investment Advisers Act of 1940 and manages investments for external parties through its asset management business. Hercules Capital's common stock trades on the NYSE under the ticker HTGC, and the company has one retail bond issuance, 6.25% Notes due 2033 (NYSE: HCXY). The release does not disclose a final fund size or target commitment amount for Fund IV.
Following the launch of Fund IV, Hercules Adviser manages four private credit funds with approximately $1.6 billion in committed debt and equity capital. Hercules Capital and Hercules Adviser together had more than $5.0 billion in assets under management as of March 31, 2025. Since its December 2003 inception, Hercules Capital, directly and through funds managed by Hercules Adviser, has committed over $22.0 billion to more than 680 portfolio companies, with a stated focus on first-lien structures and downside protection.
Scott Bluestein, chief executive officer and chief investment officer of Hercules, said the first close "reflects the strength of our differentiated investment platform and the confidence our partners have in our disciplined approach to venture and growth stage lending." He added that the firm sees "enormous opportunity to continue to back venture and growth stage technology and life sciences companies." According to the release, the fund will leverage Hercules Capital's scale, industry relationships and underwriting framework to support companies at inflection points in their growth trajectory.
The release notes that Hercules Adviser is registered under the Investment Advisers Act of 1940 and manages investments for external parties through its asset management business. Hercules Capital's common stock trades on the NYSE under the ticker HTGC, and the company has one retail bond issuance, 6.25% Notes due 2033 (NYSE: HCXY). The release does not disclose a final fund size or target commitment amount for Fund IV.
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