Exhibit 21.1

List of Subsidiaries

(as of December 31, 2021)

Name

Jurisdiction of Organization

Bearcub Acquisitions LLC

Delaware

Gibraltar Acquisition LLC

Delaware

HercGBC LLC

Delaware

Hercules Capital Funding Trust 2018-1

Delaware

Hercules Capital Funding Trust 2019-1

Delaware

Hercules Capital IV, L.P.

Delaware

Hercules Capital Management LLC

Delaware

Hercules Funding II, LLC

Delaware

Hercules Funding IV, LLC

Delaware

Hercules Technology III, L.P.

Delaware

Hercules Technology Management LLC

Delaware

Hercules Technology Management Co II, Inc.

Delaware

Hercules Technology Management Co III LLC

Delaware

Hercules Technology Management Co IV LLC

Delaware

Hercules Technology SBIC Management, LLC

Delaware

HTGC UK Limited

United Kingdom

 

 

Unconsolidated Subsidiaries

 

Gibraltar Business Capital LLC

Delaware

Hercules Adviser LLC

Delaware

Hercules Private Credit Fund 1 L.P.

Delaware

Hercules Private Fund One LLC

Delaware

Hercules Private Global Venture Growth Fund GP I LLC

Delaware

Hercules Private Global Venture Growth Fund I L.P.

Delaware