Hercules Technology Growth Capital ( (HTGC) ) has released its Q1 earnings. Here is a breakdown of the information Hercules Technology Growth Capital presented to its investors.
Hercules Capital, Inc. is a leading specialty finance company that provides senior secured venture growth loans to innovative, high-growth companies in the technology and life sciences sectors. With a focus on venture capital-backed enterprises, Hercules has established itself as a preferred lender for entrepreneurs seeking growth capital.
In its first quarter of 2025, Hercules Capital reported significant financial achievements, including total gross debt and equity commitments of $1.02 billion and total gross fundings of $539.1 million. The company also achieved a total investment income of $119.5 million and net investment income of $77.5 million, or $0.45 per share, which provided 113% coverage of the base cash distribution.
Key highlights from the report include an investment grade rating upgrade to BBB (high) from Morningstar DBRS and the successful closure of a $287.5 million offering of 4.750% convertible unsecured notes due in 2028. Hercules also reported a conservative balance sheet management with net GAAP leverage of 97.4% and net regulatory leverage of 82.7%, alongside over $1.0 billion in available liquidity.
Looking ahead, Hercules Capital remains optimistic about its growth trajectory, supported by its robust asset management business and a strong pipeline of investment opportunities. The company continues to leverage its strategic position in the market to drive sustainable growth and deliver value to its stakeholders.