TMCnet News

Hercules Technology Growth Capital Updates on Portfolio Update for Q1 2014 [Professional Services Close - Up]
[April 16, 2014]

Hercules Technology Growth Capital Updates on Portfolio Update for Q1 2014 [Professional Services Close - Up]


(Professional Services Close - Up Via Acquire Media NewsEdge) Hercules Technology Growth Capital, Inc., a specialty finance company focused on providing senior secured loans to venture capital- backed companies, announced its Q1 2014 portfolio update.



"The first quarter has been very positive as Hercules continues to build on the strong trajectory we set in 2013," said Manuel A. Henriquez, co-founder, chairman and chief executive officer of Hercules. "We are pleased to report that we originated approximately $154 million in new and existing debt and equity commitments, including almost $117 million to six new companies. Additionally, eight portfolio companies have announced or completed liquidity events, including five IPOs in the life science sector and we have four additional portfolio companies, including Box, Inc., in registration for an IPO. It's been a great start to a new year." As of March 31, Hercules has originated approximately $153.7 million of debt and equity commitments to new and existing portfolio companies.

Hercules has made new commitments to the following six companies, assisting in their future growth and development.


-$30.0 million commitment to a premium subscription on-demand streaming music service with more than one million members who can listen to more than 20 million tracks on more than 70 consumer electronics devices, including connected audio systems like Sonos, smartphones, Android tablets, MP3 players and connected TVs.

-$25.0 million commitment to a renewable products company.

-$21.5 million commitment to a specialty pharma company with oral drug delivery platform technologies and a late-stage pipeline of controlled release products for Attention Deficit Hyperactivity Disorder (ADHD).

-$21.0 million commitment to a startup specialty pharmaceutical company focused on providing patients with unique products to address unmet medical needs.

-$11.8 million commitment to a pioneering educational game developer that publishes entertaining and award-winning mobile and web products for children.

-$7.5 million commitment to a fabless semiconductor company that makes highly-integrated application targeted ICs for consumer audio and voice applications.

In addition, Hercules provided approximately $36.9 million of debt and equity commitments and renewals to existing portfolio companies.

As of March 31, Hercules received approximately $131.0 million in principal repayments, of which approximately $87.0 million were unscheduled early repayments.

((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

[ Back To TMCnet.com's Homepage ]