HCXY

Hercules Capital, Inc. operates as a specialty finance company providing venture debt and equipment financing to high-growth, innovative venture capital-backed companies in technology, life sciences, and sustainable and renewable technology sectors. Headquartered in Palo Alto, California, the company was founded in 2003 and functions as a business development company (BDC) under the Investment Company Act of 1940. Hercules offers structured debt with warrants, senior and subordinated secured loans, and venture growth loans to companies across various stages from venture capital-backed startups to established revenue-generating businesses. The company manages a portfolio exceeding $3 billion in committed capital and has funded over 550 companies since inception, establishing itself as a leading provider of venture lending in the United States. Hercules typically targets financing rounds ranging from $5 million to $100 million per portfolio company. The firm generates revenue primarily through interest income on loans and realized gains from warrant exercises as portfolio companies achieve liquidity events through IPOs or acquisitions. As an internally managed BDC, Hercules maintains a diversified portfolio across multiple sectors, with significant exposure to software, therapeutics, and drug discovery companies. The company operates with approximately 80 employees and trades on the New York Stock Exchange, making regular quarterly distributions to shareholders from its net investment income.