Adds five new managing directors and one principal
Opens New York office
Expands Virginia and Palo Alto origination teams
PALO ALTO, Calif.--(BUSINESS WIRE)--
Hercules Technology Growth Capital, Inc. (NYSE: HTGC), the leading
specialty finance company focused on providing senior secured loans to
venture capital-backed companies in technology-related markets,
including technology, biotechnology, life science, and energy and
renewables technology industries, at all stages of development, today
announced that in response to the unprecedented demand for venture debt,
the company has expanded its operations.
"This is a very exciting time for our company," said Manuel A.
Henriquez, co-founder, chairman and chief executive officer of Hercules.
"Over the years, venture debt has become an accepted and, at times,
critical part of a company's financing mix as entrepreneurs understand
its benefits and role alongside that of existing venture capital.
Hercules is one of the oldest, most experienced and trusted providers of
venture debt, having completed more than $3.9 billion in commitments to
over 250 companies since Hercules' founding less than a decade ago. We
are experiencing very strong demand for venture debt and, as a result,
we believe we have a significant opportunity to continue to thoughtfully
and strategically expand our operations while continuing to manage our
‘slow and steady' growth strategy of deploying capital."
Recently, Hercules opened an office in New York City and expanded its
originations team in McLean, Virginia and Palo Alto, California.
A total of five new managing directors and one principal have joined the
Anup Arora, Managing Director, Life Science Group, New York, NY
— Arora has over 14 years of consulting, operations and investing
experience in healthcare companies. He was previously with Easton
Capital where he was involved in numerous venture capital investments
in young life sciences companies. Prior to that, Arora was in global
marketing at Pfizer and before that was a strategy consultant with
Strategic Decisions Group. He also spent two years engaged in
biomedical research at Stanford Medical School;
Forbes Burtt, Managing Director, Special Opportunity Lower
Middle Market Group, New York, NY — Burtt has over 25 years of
transaction experience both as a principal and as an investment
banker. Most recently, Burtt was a managing director at Bryant Park
Capital. Previously, he was a partner and head of business development
at Laurus Capital Management, a hedge fund focused on providing lower
middle-market companies with creative debt capital solutions. He began
his career at Drexel Burnham Lambert;
Paul Edwards, Managing Director, Life Science Group, Palo Alto,
CA — Edwards has over 23 years of diverse operational experience
including fund raising, business development, marketing and equity
investing in both large public and small private medical device
companies. Previously, Edwards led business development and financing
at IntegenX. Before that, he was a principal at Latteral Venture
Partners. Edwards also held senior positions at Boston Scientific,
Medtronic, SurModics, the University of Minnesota Office of Patents
and Technology, and SmithKline Beecham;
Mark Modica, Managing Director, Technology Group, McLean, VA —
With over 25 years of experience, Modica has raised capital using both
debt and equity, worked with over 50 venture capital firms and has
taken several companies public. Previously, Modica was the CFO at
Pivot3 and prior to that served as the CFO for several technology
companies including Digital Sandbox (acquired by Haystax), and Digital
Bridge Communications. He has also served as the CEO and co-founder of
CyberCFO, was a partner at Avansis Ventures, and he has served on the
boards of multiple technology companies;
Daniel Holman, Managing Director, Technology Group, Palo Alto,
CA — With over 15 years of experience in operations and structured
finance, Holman joined Hercules from Box.com, a leader in the emerging
Cloud-based, Enterprise Content Management market. Before that, he was
a partner at Western Technology Investment where he worked on more
than 50 venture debt transactions. Earlier, Holman was at
salesforce.com and prior to that spent six years as an officer in the
U.S. Navy SEALs; and,
John Doyle, Principal, Energy Technology & Renewables Group,
Palo Alto, CA — Doyle was most recently with Silver Lake Kraftwerk, a
growth-stage venture capital firm focused on energy and resources. He
was previously the Lead Associate for Business and Financial Services
at Hyde Park Angels and Hyde Park Venture Partners, the University of
Chicago-affiliated angel group and venture capital arm. Before that,
he founded and led the business development effort at Fountain
Partners, a San Francisco-based venture leasing firm.
"Every one of our new team members has significant depth of experience
in their respective sectors, and it is precisely this knowledge that is
most attractive to the companies we work with," said Henriquez. "The
entrepreneurs and VCs we speak with on a daily basis know that they are
working with people who not only understand their industry, but who also
understand the growth process these companies are going through, both
the highs and the lows. They know that we will be there for them every
step of the way and are committed to seeing them reach each critical
milestone in their development."
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") is
the leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in technology-related
markets, including technology, biotechnology, life science and energy
and renewables technology industries, at all stages of development.
Since inception (December 2003), Hercules has committed more than $3.9
billion to over 250 companies and is the lender of choice for
entrepreneurs and venture capital firms seeking growth capital financing.
Hercules' common stock trades on the New York Stock Exchange (NYSE)
under the ticker symbol "HTGC."
In addition, Hercules has two outstanding bond issuances of 7.00% Senior
Notes due 2019—the April 2019 Notes and September 2019 Notes—which trade
on the NYSE under the symbols "HTGZ" and "HTGY," respectively.
Companies interested in learning more about financing opportunities
should contact firstname.lastname@example.org, or call
Statements in this press release may constitute forward-looking
statements for purposes of the safe harbor protection under applicable
securities laws. Forward-looking statements can be identified by
terminology such as "anticipate," "believe," "could," "estimate,"
"expect," "intend," "is planned," "may," "should," "will," "will
enable," "would be expected," "look forward," "may provide," "would" or
similar terms, variations of such terms or the negative of those terms.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors including, without limitation, those
risks, uncertainties and factors referred to in the "Risk Factors"
section of the Hercules Annual Report on Form 10-K for the year ended
December 31, 2012, as well as the other documents and reports filed by
Hercules with the Securities Exchange Commission. As a result of such
risks, uncertainties and factors, actual results may differ materially
from any future results, performance or achievements discussed in or
implied by the forward-looking statements contained herein. Hercules is
providing the information in this press release as of this date and
assumes no obligations to update the information included in this press
release or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Hercules Technology Growth Capital, Inc.
Linda Wells, 415-445-3236
Source: Hercules Technology Growth Capital, Inc.
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