Hercules Technology Growth Capital is changing its name to Hercules Capital effective February 25, 2016. The company will continue to trade on the New York Stock Exchange under the HTGC ticker symbol.
Hercules’ founding mission was to create an opportunity for individual and institutional investors to gain exposure to high-growth, technology-based companies, while also providing entrepreneurs with an alternative source of growth capital that complemented their existing venture capital financing. Since its founding in December 2003, a cumulative USD460 billion has been invested in US-based venture-capital backed companies, according to Dow Jones VentureSource Q4 2015 report, highlighting the vibrancy of Hercules’ business model and its critical role in the innovation ecosystem. Today, Hercules is the leading and largest non-bank specialty financing company specifically providing growth capital to venture capital backed companies. Since 2003, Hercules has committed over USD5.7 billion of venture-debt financing helping more than 335 innovative, high-growth venture-capital backed companies in a broadly diversified variety of technology, life sciences and sustainable and renewable technology industries, to continue to pursue their business growth objectives.
“I have always believed that in order to continue to lead the market and further strengthen our brand position, we must continuously innovate and evolve,” says Manuel A Henriquez, chairman and chief executive officer of Hercules. “This is exactly what we did in the venture lending marketplace when Hercules first opened its doors in December 2003 and what we will continue to do as we grow and thrive. As we continue to set a high standard in venture lending through our superior credit management and solid investment portfolio growth, combined with management of our strong balance sheet and liquidity position, we wanted a name that better reflects our strategic outlook and positions us to broaden our platform and to potentially pursue new opportunities.
“These opportunities may include expanding our product offerings to better meet the needs of our existing innovative portfolio companies, increasing our strategic partnerships, potentially adding new industries, and growing our company through potential strategic acquisitions within the BDC industry or outside the BDC industry. Hercules Capital better represents our mandate and encompasses these new endeavours as we continue to expand our brand as the largest and growing leading venture lending platform in the BDC industry, which will remain our core business focus.”