Hercules Capital Celebrates 20th Anniversary with $20.0 Billion in Cumulative Originations
Two Decades of Fueling the Growth of the Innovation Economy
Founded in
“2024 marks our 20th year investing in the venture and growth stage asset class over which time we’ve committed more than
Scale, diversification, disciplined underwriting and a credit driven culture
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More than
$20.0 billion in total gross debt commitments sinceOctober 2004 - Achieved a 20-year 42.6% compound annual growth rate in cumulative commitments
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Approximately
$4.5 billion of assets under management - Partnered with over 650 portfolio companies and more than 1,000 venture capital and private equity firms
- Over 250 portfolio company IPO or M&A exit events
Experienced, diverse, and growing team committed to the growth stage ecosystem
- Over 110 full-time employees with offices in eight states and two countries
- Nearly 50% of our senior leaders, which includes our managing directors on the investment team and senior executives, are women or people of diverse ethnic backgrounds
- 50+ member origination team, led by individuals with an average of 10+ years industry experience
Strong and stable balance sheet supports continued platform growth
- Four investment grade corporate ratings – Fitch, Moody’s, KBRA and DBRS
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Inclusive of the Adviser Funds managed by
Hercules Adviser LLC , its wholly-owned subsidiary, Hercules had over$1.0 billion of available liquidity as of year-end 2023 - GAAP leverage of 87.1% and regulatory leverage of 77.4% as of year-end 2023
Delivering solutions for growth stage companies and their institutional investors
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Record full-year 2023 total gross fundings of
$1.6 billion on gross new debt and equity commitments of$2.17 billion - 32 new portfolio companies funded in 2023 bringing the current portfolio to 125 active loan portfolio companies as of year-end 2023
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2023 average deal size:
$46.0 million -
2023 deal size range:
$3.7 million to$150.0 million
Commitment to delivering strong, consistent Total Shareholder Returns (TSR)
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75 consecutive quarters and
$1.87 billion in dividends paid since IPO inJune 2005 - HTGC has traded at a premium to net asset value for 98.4% of the trading days in the past 10 years (ending 3/31/24)
- Internally managed structure aligned to maximize total shareholder returns
- In addition to the regular quarterly base distribution, 14 consecutive quarters paying a supplemental distribution to shareholders (ending 3/31/24)
- A 112.4% TSR over the last 5 years as of year-end 2023
Note: All figures represented herein are from
About
Hercules, through its wholly owned subsidiary business,
Hercules’ common stock trades on the
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the
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Investor Relations and Corporate Communications
650-433-5578
mhara@htgc.com
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