Hercules Capital Celebrates
20th Anniversary with $20 Billion in Cumulative Originations
It has been our mission since 2004 to fuel high-growth, innovative, venture capital-backed and institutional sponsor-backed companies at critical inflection points, enabling them to pursue their ambitions and bring transformative products and services to market.
The journey to becoming the largest, publicly traded business development company (BDC) that is focused on venture lending in the United States has been guided by principled management through changing market environments and a commitment to being a reliable partner to our portfolio companies.
Hercules has empowered innovators to scale their visions into industry-defining enterprises that generate lasting value.
Total commitments since inception
IPOs and M&A exits since inception
Companies funded since inception
Co-investments with VC & PE firms
Assets Under Management (AUM)
Compound annual growth rate in cumulative commitments
Full time employees with offices in eight states and two countries
In dividends paid since IPO in June 2005
Company Milestones Timeline
Entity Formation
First debt investment:
$1.7 million loan commitment to Affinity Express
IPO on NASDAQ under
the symbol HTGC
Received 1st SBA license
Commitments to over 100 companies
$1 Billion in total debt commitments
Received 2nd SBA license
Commitments to over 250 companies
$5 Billion in total debt commitments
$10 Billion total debt commitments milestone
Commitments to over 500 companies
Hercules Capital Surpasses
$1.0 Billion in Cumulative Distributions to Shareholders since IPO
Received 3rd SBA license
Hercules Adviser LLC Announces the Closing of Its Inaugural Institutional Private Credit Fund
Hercules Capital Surpasses $2.0 Billion in Annual Gross Debt and Equity Commitments for First Time in History
Hercules Capital Opens London, UK office
Hercules Capital Receives SBA “Green Light” Letter to Submit Its Fourth SBIC License Application
2024
$20 Billion in total debt commitments
PORTFOLIO COMPANY IMPACT
Our partnerships have catalyzed the success stories of numerous groundbreaking companies, underscoring the profound impact strategic venture debt can have in unlocking potential and propelling ideas into real-world impact.
Hercules’ funding has supported a portfolio of over 650 companies employing more than 150,000 people to reach their next innovative milestones.
Our commitment to providing access to growth capital for companies at all stages of development has been cultivated since 2006 with our first U.S. Small Business Administration (SBA) investment company license, and subsequent licenses.
Hercules committed a total of $33 million in debt and $4.5 million in equity between 2008 and 2014. Hercules supported Box through the 2008-09 financial crisis and grew through multiple transactions as Box started to scale. Box completed their IPO in 2015.
UniQure developed the first approved gene therapy in the western world. Hercules committed $100 million in debt between 2013 and 2021.
Hercules has partnered with Thumbtack, a technology company helping millions of people confidently care for and improve their homes, and with a total of $50 million in loan commitments in 2018 and 2019 supported the business in its growth as well as through the challenging time of the Covid-19 pandemic.
TransMedics revolutionized the transportation of organs with its Organ Care System (OCS), dramatically improving utilization and patient outcome. Hercules made approximately $11.9 million in debt and equity commitments between 2008 and 2022.
SeatGeek is a high-growth, global ticketing leader. Hercules made a $60 million loan commitment in 2019 and supported SeatGeek during the Covid-19 pandemic with an additional $50 million loan commitment in 2022.
Provention Bio developed and received FDA approval for Teplizumab, the first treatment aimed at delaying the onset of insulin-dependent type 1 diabetes. Hercules committed $100 million in debt in 2022. Provention Bio was acquired by Sanofi for $2.9B in 2023.