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Hercules Adviser Establishes New Institutional Private Credit Lending Program

March 27, 2023, 07:57 AM
Filed Under: Private Equity News

Hercules Capital announced that Hercules Adviser (“Hercules Adviser”), a wholly-owned subsidiary of Hercules Capital, has established a new institutional private credit lending program. The new private credit lending program was established to support the venture and growth stage companies that are being impacted by the recent market events across the venture and growth stage lending ecosystem.

Hercules Capital and its wholly owned subsidiary, Hercules Adviser, currently manage over $3.6 billion of assets under management. Prior to the creation of this new private credit lending program, Hercules Adviser manages two existing private funds with committed capital and leverage in excess of $1.0 billion.

“We are very pleased to announce that Hercules Adviser has successfully established this new institutional private credit lending program,” stated Scott Bluestein, chief executive officer and chief investment officer of Hercules Capital. “As the largest and leading non-bank venture and growth stage lender, we are well-positioned to leverage our scale and our deep and long-standing relationships in the venture capital ecosystem, to provide the capital from this new private credit lending program to help companies navigate the challenges from the recent market events. Over the course of the last 18 years, we have successfully committed over $16 billion of capital to venture and institutionally backed growth companies. We are committed to working closely with the many strong and financially sound companies in our ecosystem that now more than ever, need a financing partner with a strong and liquid balance sheet who can be supportive over time. Venture and growth stage technology and life sciences companies have been responsible for countless innovations that have changed the world for the better and we look forward to continuing to work with these companies over the years to come.”

Bluestein added, “We are thankful for the additional commitment from Davidson Kempner Capital Management, the anchor for this new private credit lending program and a strong partner across the Hercules Capital Private Credit Fund business.”

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