Venture Debt Veteran April Young Joins as Managing Director
PALO ALTO, Calif.--(BUSINESS WIRE)--
Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the largest
specialty finance company addressing the capital needs of
technology-related venture capital and private equity-backed companies
today announced the appointment of industry veteran April Young as
Managing Director and the opening of its new offices in McLean, Virginia.
The expansion is part of Hercules' planned growth strategy and provides
geographic support to the Mid-Atlantic and South-Atlantic regions where
the Company is currently under represented. The Mid-Atlantic region is
represented by New York, New Jersey, and Pennsylvania. The
South-Atlantic is represented by Delaware, Washington D.C., Maryland,
Virginia, West Virginia, North Carolina, South Carolina, Georgia and
Florida. The new Virginia office complements Hercules' long standing
position in venture capital strongholds, Silicon Valley and New England,
and extends the Company's presence in the three largest markets for
venture capital investment according the PricewaterhouseCoopers/National
Venture Capital Association MoneyTree™ Report.
Ms. Young will lead the Virginia office as part of Hercules' Technology
Group investment team. She is a seasoned executive with more than 16
years of experience in sourcing and providing growth capital loans to
venture-backed technology and life science companies. Most recently, Ms.
Young served as a Senior Vice President and Managing Director at MMV
Financial, Inc., a specialty finance firm where she managed the U.S.
expansion of MMV's venture debt practice.
Previously, Ms. Young was with Comerica Bank for 10 years as Senior Vice
President and Managing Director of the Mid-Atlantic Technology and Life
Sciences Division. Earlier in her career, Ms. Young was Executive
Director at the Potomac KnowledgeWay, a not-for-profit leadership
organization. Prior to that, she was a Senior Fellow for Regional
Economic Development at George Mason University's Institute for Public
Policy, and the Director of the Virginia Department of Economic
Development. Ms. Young received a Ph.D. in Public Policy and
Administration from Saint Louis University and an M.S. and B.A. in Urban
and Regional Planning from George Washington University.
"Growth continues to be our mantra. The addition of Ms. Young and the
opening of our new office enhance the Company's focus on the
Mid-Atlantic region, particularly in the areas of software, biotech and
information services where we can leverage existing domain expertise as
we continue to build the portfolio," said Manuel A. Henriquez,
co-founder, chairman and chief executive officer of Hercules. "Ms.
Young's leadership in the Mid-Atlantic technology community and her many
years of venture debt experience will be an important growth asset for
Hercules. I am looking forward to working with her as we pursue new
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty
finance firm providing customized loans to public and private
technology-related companies, including clean technology, life science
and select lower middle market technology companies at all stages of
development. Since its founding in 2003, Hercules has committed over
$2.4 billion in flexible financing solutions to over 170 companies,
enabling these companies to maximize their equity by leveraging these
assets. Hercules' strength comes from its deep understanding of credit
and the industries it serves, allowing it to partner with venture
capital and private equity companies for a less dilutive source of
growth capital helping companies to bridge through their critical stages
of growth. Hercules offers a full suite of growth capital products at
all levels of the capital structure, up to $40 million, lines of credit
to term loans. The company is headquartered in Palo Alto, California and
has additional offices in Massachusetts, Colorado and Virginia.
Providing capital to publicly-traded or privately-held companies backed
by leading venture capital and private equity firms involves a high
degree of credit risk and may result in potential losses of capital. For
more information, please visit www.htgc.com.
Companies interested in learning more about financing opportunities
should contact info@HTGC.com, or call
The statements contained in this release that are not purely historical
are forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties and
other factors that could cause actual results to differ materially from
those expressed in the forward-looking statements including, without
limitation, the risks, uncertainties, including the uncertainties
surrounding the current market turbulence, and other factors we identify
from time to time in our filings with the Securities and Exchange
Commission. Although we believe that the assumptions on which these
forward-looking statements are reasonable, any of those assumptions
could prove to be inaccurate and, as a result, the forward-looking
statements based on those assumptions also could be incorrect. You
should not place undue reliance on these forward-looking statements. The
forward-looking statements contained in this release are made as of the
date hereof, and Hercules assumes no obligation to update the
forward-looking statements for subsequent events.
Hercules Technology Growth Capital, Inc.
Source: Hercules Technology Growth Capital, Inc.
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