Hercules Technology Growth Capital, Inc. announced its Q4 2014 portfolio update.
“Hercules completes an impressive sprint to the finish line delivering another record quarter and year of new originations commitments, underscoring our leadership position and value we bring to both our innovative venture growth stage companies and to the venture capital community as a thriving alternative source of growth capital versus traditional commercial bank financing, while also demonstrating our continued focus on growing our market presence,” stated Manuel Henriquez, chairman and chief executive officer of Hercules. “This achievement would not have been possible if not for our amazing, dedicated team of investment professionals and our unquestionable brand recognition and industry reputation as the lender of choice to many of the leading venture capital backed pre-IPO and M&A companies seeking growth capital. Our eleven-year track record, coupled with our outstanding venture capital relationships, and what I consider to be the industry-leading direct originations platform, continue to afford us access to deal flow for new originations at unprecedented levels, far greater than any of our BDC competitors.”
Henriquez added, “We are never satisfied with the status quo. We are committed to continuously improving how we operate and provide growth capital solutions to the community of innovative venture-backed growth stage companies we service and will continue to elevate our differentiated competitive advantage, so that we can create even better solutions for our current and future partners while delivering potentially greater shareholder return. We are extremely thankful that over 300 companies have chosen to select Hercules as their partner for growth capital, representing nearly $5 billion in capital commitments since our founding in December 2003.”
New Originations for Q4 2014 Totaling Approximately $316.0 million:
As of December 23, 2014, Hercules has originated approximately $316.0 million of debt and equity commitments to new and existing portfolio companies.
Ten new commitments to the following venture growth stage companies:
Technology Portfolio - $138.0 Million
- $60.0 million to a mobile advertising-technology company developing consumer engagement platforms
- $38.0 million to online marketplace company servicing the heavy industries marketplace
- $25.0 million to the leading technology developer of cloud contact center solutions
- $15.0 million to a leading technology provider of enterprise email marketing solutions
Life Sciences Portfolio - $150.0 Million
- $40.0 million to a clinical-stage biopharmaceutical company developing infectious diseases treatments
- $30.0 million to a leading pharmaceutical company developing therapies for drug-resistant infections
- $29.0 million to a leading biopharmaceutical company developing directed vaccines and immunotherapies
- $20.0 million to a leading medical device company developing cardiac disease management technology
- $18.5 million a medical device company developing advanced implantable drug delivery systems
- $12.5 million to a leading company developing safer and more efficient drug delivery infusion solutions
In addition, Hercules provided approximately $28.0 million of debt commitments and renewals to existing portfolio companies.
To view the entire press release detailing other transactions not shown here, click here.
Hercules Technology Growth Capital, Inc. is a leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology, at all stages of development. Since inception (December 2003), Hercules has committed more than $4.6 billion to over 300 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.