Hercules Capital (Hercules), a specialty financing provider to innovative venture, growth and established stage companies backed by venture capital and private equity firms, together with external funds managed by its adviser subsidiary, has originated more than USD1.5 billion year-to-date in annual total gross debt and equity commitments, breaking its previous one-year record of USD1.47 billion.
“This record-breaking achievement is a testament to the quality of our team and the market-leading position the Hercules platform has established over its 17-year history,” says Scott Bluestein, chief executive officer and chief investment officer of Hercules Capital. “More importantly, this performance, in just the first nine months of the year, is complemented by our best internal portfolio credit rating through Q2 2021, which is reflective of our consistent and disciplined underwriting approach. The venture capital and private equity markets have fostered unprecedented levels of liquidity which have presented our deal teams with a strong pipeline of high-quality opportunities across the life sciences and technology sectors.
“Having recently closed our investment grade public offering of USD325.0 million 2.625 per cent Notes, we will finish the year with strong liquidity while successfully lowering our overall cost of debt. This puts us in an excellent financial position to continue to pursue the right investment opportunities which enable us to grow and deliver strong shareholder returns.”
