Hercules Capital, Inc.

Hercules Capital, Inc.

Hercules Capital, Inc.

Overview
Date Founded

2003

Headquarters

400 Hamilton Avenue, Suite 310, Palo Alto, CA, 94301, USA

Type of Company

Public

Employees (Worldwide)

82

Industries

Trusts & Funds
IT Consulting & Services
Accounting & Financial Services
Private Equity & Venture Capital
Investment Services & Portfolio Management

Company Description

Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest; particularly in the areas of software, biotech and information services. It invests generally between $1 million to $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital.The company was founded by Manuel A. Henriquez in December 2003 and is headquartered in Palo Alto, CA.

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Executives & Employees

Co-Founder

President, Chief Executive Officer & Director

Chief Financial Officer

Chief Financial Officer

General Counsel, Chief Compliance Officer & Secretary

Head of Venture Lending, Life Sciences Group

Managing Director

General Counsel, Chief Compliance Officer & Secretary

Head of Venture Lending, Technology Group

Senior Managing Director-Life Sciences

Board of Directors

Marketing Director at Dell EMC, Inc.

Financial Reporting Consultant at LiveOps, Inc.

Former Executive Vice President at Wells Fargo & Co.

Co-Chief Executive Officer & Director at Apex Technology Acquisition Corp.

Operational Business Consultant at Warburg Pincus LLC

Chief Financial Officer at SharesPost 100 Fund

Former Process Engineer at HP, Inc.

President, Chief Executive Officer & Director at Hercules Capital, Inc.

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Hercules Capital, Inc.
Recent Transactions
Details Hidden

Hercules Capital, Inc. issued USD Common Stock

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Hercules Capital, Inc. issued USD Common Stock

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Synopsys, Inc. purchases Atrenta, Inc. from Venrock Associates, Finaventures, Investcorp Technology Investment Group, Saints Ventures LLC, Partner Ventures LLC

Transaction Clients
Lender

Advised on j2 Global, Inc. purchases KeepItSafe, Inc. from Threshold Ventures, Inc., Sigma Partners, Selby Venture Partners, Coral Capital Management LLC, ORIX Growth Capital LLC, Hatteras Venture Partners, Hercules Capital, Hatteras Capital Investment Management (Venture Capital)

Lender

Advised on Synopsys, Inc. purchases Atrenta, Inc. from Venrock Associates, Finaventures, Investcorp Technology Investment Group, Saints Ventures LLC, Partner Ventures LLC

Insider Transactions
Details Hidden
Details Hidden
Details Hidden
Transaction Advisors
Auditor

Advised onHercules Capital, Inc. issued USD Common Stock

Underwriter

Advised onHercules Capital, Inc. issued USD Common Stock

Escrow Agent

Advised onHercules Capital, Inc. issued USD Common Stock

Legal Advisor

Advised onHercules Capital, Inc. issued USD Common Stock

Managing Director

Advised onHercules Capital, Inc. issued USD Common Stock

Professional

Advised onHercules Capital, Inc. issued USD Common Stock

Advisors & Consultants
Special Advisor

Chief Financial Officer & Treasurer at Trinity Capital, Inc.

Consultant

Practice Lead at Merryck & Co. Ltd.

Key Stats and Financials As of 2020
Market Capitalization
$2.03B
Total Enterprise Value
$2.68B
Earnings Per Share
$2.01
Revenue
$231M
Net Profit
$226M
EBITDA
$287M
EBITDAMargin
124.28%
Total Debt
$1.3B
Total Equity
$1.29B
Enterprise Value / Sales
11.58x
Enterprise Value EBITDAOperating
9.29x
TEVNet Income
11.86x
Debt TEV
0.48x
Three Year Compounded Annual Growth Rate Of Revenue
12.08%
Non-Profit Donations & Grants
$100 - $499
2017
$2,500 - $4,999
2017
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