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Senior Secured, Maturity Date March 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.50%, 4.50% Exit Fee2022-12-310001280784htgc:SeptemberTwoThousandTwentySixNotesMember2023-03-310001280784Debt Investments Software and Babel Street, Senior Secured, Maturity Date December 2027, 3-month SOFR + 7.89%, Floor rate 8.89%2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Debt Investments Drug Discovery & Development and ATAI Life Sciences N.V. Senior Secured, Maturity Date August 2026, Prime + 4.55%, Floor rate 8.55%, 6.95% Exit Fee2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784htgc:ElectronicsComputerHardwareMember2022-12-310001280784Debt Investments Drug Discovery & Development and Axsome Therapeutics, Inc. Senior Secured, Maturity Date October 2026, Prime + 5.70%, Floor rate 8.95%, Cap rate 10.70%, 5.31% Exit Fee2022-12-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 2/8/2013, Series Preferred Series D2023-03-310001280784Debt Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Unsecured, Maturity Date September 2026, FIXED 14.50%2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784Investment Funds & Vehicles Investments (0.26%)2023-03-310001280784Debt Investments Healthcare Services, Other and Better Therapeutics, Inc. Senior Secured, Maturity Date August 2025, Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee2023-03-310001280784htgc:LeaseAndLicenseObligationsMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784Debt Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Unsecured, Maturity Date September 2026, FIXED 11.50%2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2023-03-310001280784Equity Investments Software and Docker, Inc., Equity, Acquisition Date 11/29/2018, Series Common Stock2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Pivot Bio, Inc., Equity, Acquisition Date 6/28/2021, Series Preferred Series D2023-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:MacroFabIncorporationMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Evofem Biosciences, Inc., Warrant, Acquisition Date 6/11/2014, Common Stock2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:UnsecuredMemberhtgc:CollateralTypeConcentrationRiskMember2022-01-012022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MedicalDevicesAndEquipmentMember2023-01-012023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784htgc:JuneTwoThousandTwentyFiveNotesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:TGTherapeuticsIncMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMember2023-03-310001280784Equity Investments Consumer & Business Services and Oportun, Equity, Acquisition Date 6/28/2013, Series Common Stock2023-03-310001280784htgc:SBADebenturesIssuedOnJuneTwentyFiveTwoThousandAndTwentyOneMember2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Equity, Acquisition Date 9/13/2012, Series Preferred Series C-12023-03-310001280784Equity Investments Software and HighRoads, Inc., Equity, Acquisition Date 1/18/2013, Series Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and HilleVax, Inc, Equity, Acquisition Date 5/3/2022, Series Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:MobileSolutionsServicesMember2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:InvestmentFundsAndVehiclesMember2022-01-012022-12-310001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 9/21/2018, Preferred Series BB2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:OtherControlInvestmentsMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:LoftwareIncMember2023-03-310001280784Warrant Investments and Biotechnology Tools and PathAI, Inc., Warrant, Acquisition Date 12/23/2022, Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and Dare Biosciences, Inc., Equity, Acquisition Date 1/8/2015, Series Common Stock2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberhtgc:MeasurementInputCollateralRecoverabilityMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784Debt Investments Drug Discovery & Development and Cellarity, Inc. Senior Secured, Maturity Date June 2026, Prime + 5.70%, Floor rate 8.95%, 3.75% Exit Fee2023-03-310001280784Warrant Investments and Software and Cutover, Inc., Warrant, Acquisition Date 9/21/2022, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:DronedeployIncorporationMember2023-03-310001280784htgc:PIKInterestMember2023-01-012023-03-310001280784htgc:SemiconductorsMember2023-03-310001280784Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc. Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:CytracomHoldingsLLCMember2022-12-310001280784Warrant Investments and Software and Esme Learning Solutions, Inc., Warrant, Acquisition Date 1/27/2022, Common Stock2023-03-310001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001280784htgc:MarchTwoThousandTwentySixANotesMember2023-01-012023-03-310001280784country:DE2023-03-310001280784htgc:SMBCFacilityMember2023-01-012023-03-310001280784Equity Investments Drug Discovery & Development (1.96%)2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:OmedaHoldingsLlcMember2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SBADebenturesMember2022-12-310001280784Debt Investments Electronics & Computer Hardware (1.34%)2022-12-310001280784Equity Investments Medical Devices & Equipment and Gelesis, Inc., Equity, Acquisition Date 11/30/2009, Series Common Stock2023-03-310001280784Warrant Investments and Biotechnology Tools and PathAI, Inc., Warrant, Acquisition Date 12/23/2022, Common Stock2023-03-310001280784htgc:SeptemberTwoThousandTwentySixNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:SeniorSecuredDebtMember2023-03-310001280784Warrant Investments and Software and VideoAmp, Inc., Warrant, Acquisition Date 1/21/2022, Common Stock2022-12-310001280784htgc:PerformanceDeuMember2023-01-012023-03-310001280784Warrant Investments and Drug Discovery & Development and Provention Bio, Inc., Warrant, Acquisition Date 9/15/2022, Common Stock2023-03-310001280784htgc:March2026BNotesMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-01-012023-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:FebruaryTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784Debt Investments Information Services and Capella Space Corp. Senior Secured, Maturity Date November 2025, Prime + 5.00%, Floor rate 8.25%, PIK Interest 1.10%, 7.00% Exit Fee2023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel1Member2022-12-310001280784us-gaap:WarrantMemberhtgc:WarrantInvestmentMember2023-03-310001280784htgc:AdviserFundsMember2023-01-012023-03-310001280784Warrant Investments and Software and Cloudian, Inc., Warrant, Acquisition Date 11/6/2018, Common Stock2023-03-310001280784Investment Funds & Vehicles Investments and Software and Liberty Zim Co-Invest L.P., Investment Funds & Vehicles, Acquisition Date 7/21/20222023-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:GB2022-01-012022-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784Equity Investments (9.56%)2022-12-310001280784us-gaap:CommonStockMember2023-03-310001280784Equity Investments Drug Delivery and PDS Biotechnology Corporation, Equity, Acquisition Date 4/6/2015, Series Common Stock2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Debt Investments Healthcare Services, Other (13.98%)2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMemberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784Debt Investments Drug Discovery & Development and Codiak Biosciences, Inc. Senior Secured, Maturity Date October 2025, Prime + 5.00%, Floor rate 8.25%, 5.50% Exit Fee2022-12-310001280784Warrant Investments (2.19%)2022-12-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund II C.V., Investment Funds & Vehicles, Acquisition Date 6/23/20222022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandTwentyTwoNotesMember2022-01-012022-03-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SBADebenturesMember2023-03-310001280784Debt Investments Information Services and Signal Media Limited, Senior Secured, Maturity Date June 2025, Prime + 5.50%, Floor rate 9.00%, Cap rate 12.00%, 3.45% Exit Fee2023-03-310001280784htgc:MUFGBankFacilityMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 12/18/2018, Series Preferred Series F-12022-12-310001280784Debt Investments Software and Fortified Health Security, Senior Secured, Maturity Date December 2027, 6-month SOFR + 7.79%, Floor rate 8.54%2022-12-310001280784Equity Investments Surgical Devices, Gynesonics, Inc.2022-12-310001280784Debt Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc. Senior Secured, Maturity Date May 2026, Prime + 2.45%, Floor rate 8.25%, 5.35% Exit Fee2023-03-310001280784Equity Investments Consumer & Business Products and Grove Collaborative, Inc., Equity, Acquisition Date 4/30/2021, Series Common Stock2023-03-310001280784Debt Investments Consumer & Business Services and AppDirect, Inc. Senior Secured, Maturity Date April 2026, Prime + 5.50%, Floor rate 8.75%, 8.29% Exit Fee2022-12-310001280784htgc:February2025NotesMember2020-02-050001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784Warrant Investments (2.22%)2023-03-310001280784Warrant Investments and Consumer & Business Products and The Neat Company, Warrant, Acquisition Date 8/13/2014, Common Stock2023-03-310001280784htgc:July2024NotesMember2023-03-310001280784Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee2022-12-310001280784htgc:NotesMember2023-03-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784Debt Investments Software and Copper CRM, Inc, Senior Secured, Maturity Date March 2025, Prime + 4.50%, Floor rate 8.25%, Cap rate 10.25%, PIK Interest 1.95%, 4.50% Exit Fee2023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtMaturingWithinOneYearMember2023-03-310001280784Debt Investments Software and Eigen Technologies Ltd., Senior Secured, Maturity Date April 2025, Prime + 5.10%, Floor rate 8.35%, 2.95% Exit Fee2022-12-310001280784Warrant Investments and Electronics & Computer Hardware and Locus Robotics Corp., Warrant, Acquisition Date 6/21/2022, Common Stock2022-12-310001280784Equity Investments Healthcare Services, Other and 23andMe, Inc., Equity, Acquisition Date 3/11/2019, Series Common Stock2022-12-310001280784htgc:MUFGBankFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784Equity Investments Healthcare Services, Other and Carbon Health Technologies, Inc., Equity, Acquisition Date 3/30/2021, Series Preferred Series C2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsWithNegativePledgeOnIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2023-01-012023-03-310001280784Warrant Investments and Consumer & Business Services and Veem, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2023-03-310001280784Debt Investments Software and Constructor.io Corporation, Senior Secured, Maturity Date July 2027, 1-month SOFR + 8.44%, Floor rate 9.44%2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2023-03-310001280784htgc:AppDirectIncorporationMemberhtgc:DebtInvestmentsMember2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsIncludingIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2023-01-012023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:DebtInvestmentMember2023-01-012023-03-310001280784Debt Investments Drug Discovery & Development and G1 Therapeutics, Inc. Senior Secured, Maturity Date November 2026, Prime + 5.90%, Floor rate 9.15%, 9.86% Exit Fee2022-12-310001280784htgc:SmbcLcFacilityMember2023-01-130001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 6/30/2016, Preferred Series A2022-12-310001280784Debt Investments Drug Discovery & Development and TG Therapeutics, Inc. Senior Secured, Maturity Date January 2026, Prime + 1.20%, Floor rate 8.95%, PIK Interest 2.25%, 5.69% Exit Fee2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Equity Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Equity, Acquisition Date 3/1/2018, Series Common Stock2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:InformationServicesMember2023-01-012023-03-310001280784htgc:HealthcareServicesOtherMember2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMember2023-01-012023-03-310001280784htgc:OmedaHoldingsLlcMemberhtgc:DebtInvestmentsMember2023-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DE2022-01-012022-12-310001280784Debt Investments Software and Tact.ai Technologies, Inc., Senior Secured, Maturity Date February 2024, Prime + 4.00%, Floor rate 8.75%, PIK Interest 2.00%, 5.50% Exit Fee2023-03-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:CommunicationsAndNetworkingMember2022-01-012022-12-310001280784us-gaap:RestrictedStockMemberus-gaap:CommonStockMember2022-01-012022-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 8/27/2021, Preferred Series E2023-03-310001280784htgc:DividendDeclaredSixMember2022-08-162022-08-160001280784htgc:AdviserFundsMember2022-01-012022-03-310001280784Debt Investments Consumer & Business Services and Carwow LTD Senior Secured, Maturity Date December 2024, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 4.95% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784htgc:DiversifiedFinancialServicesMember2023-03-310001280784htgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:TechnologyMember2023-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:UnsecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Warrant Investments and Software (0.59%)2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Equity, Acquisition Date 12/10/2020, Series Common Stock2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:US2023-01-012023-03-310001280784Warrant Investments and Communications & Networking and Aryaka Networks, Inc., Warrant, Acquisition Date 6/28/2022, Common Stock2022-12-310001280784htgc:PerformanceAwardsMember2022-01-012022-03-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:SeniorSecuredDebtMember2022-03-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 2/11/2021, Preferred Series D2022-12-310001280784htgc:IncludingCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Warrant Investments and Software and Poplicus, Inc., Warrant, Acquisition Date 5/28/2014, Common Stock2023-03-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixANotesMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:AtaiLifeSciencesNVMember2022-12-310001280784Equity Investments Software and ZeroFox, Inc., Equity, Acquisition Date 5/7/2020, Series Common Stock2023-03-310001280784Debt Investments Software and Kore.ai, Inc., Senior Secured, Maturity Date April 2027, Prime + 1.50%, Floor rate 9.25%, PIK Interest 2.20%, 2.25% Exit Fee2023-03-310001280784Warrant Investments and Software and Aria Systems, Inc., Warrant, Acquisition Date 5/22/2015, Preferred Series G2022-12-310001280784Warrant Investments and Software and Delphix Corp., Warrant, Acquisition Date 10/8/2019, Common Stock2022-12-310001280784Debt Investments Healthcare Services, Other and Better Therapeutics, Inc. Senior Secured, Maturity Date August 2025, Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee2022-12-310001280784Debt Investments Drug Discovery & Development and Axsome Therapeutics, Inc. Senior Secured, Maturity Date January 2028 Prime + 2.20%, Floor rate 9.95%, Cap rate 10.70%, 5.93% Exit Fee2023-03-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberhtgc:FulfilSolutionsIncMember2023-03-310001280784htgc:DividendDeclaredFourMember2022-01-012022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:CommunicationsAndNetworkingMember2023-01-012023-03-310001280784Warrant Investments and Consumer & Business Services and Lendio, Inc., Warrant, Acquisition Date 3/29/2019, Preferred Series D2022-12-310001280784Warrant Investments and Software and Brain Corporation, Warrant, Acquisition Date 10/4/2021, Common Stock2022-12-310001280784Equity Investments (8.30%)2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:CarwowLtdMember2023-03-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 6/6/2016, Series Preferred Series BB2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap:RestrictedStockMember2022-01-012022-03-310001280784Debt Investments Manufacturing Technology (2.99%)2022-12-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ViridianTherapeuticsIncMember2023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2023-03-310001280784htgc:DividendDeclaredTwoMember2023-03-092023-03-090001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001280784Equity Investments Software, Druva Holdings, Inc.2022-12-310001280784Debt Investments Drug Discovery & Development and BiomX, INC, Senior Secured, Maturity Date September 2025, Prime + 5.70%, Floor rate 8.95%, 6.55% Exit Fee2023-03-310001280784Warrant Investments and Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Warrant, Acquisition Date 9/17/2021, Common Stock2023-03-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixANotesMember2023-01-012023-03-310001280784htgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 12/22/2020, Series Preferred Series C2022-12-310001280784nvestment Funds & Vehicles Investments and Software and Liberty Zim Co-Invest L.P., Investment Funds & Vehicles, Acquisition Date 7/21/20222022-12-310001280784htgc:DebtInvestmentsMemberhtgc:BabelStreetMember2023-03-310001280784Debt Investments Drug Discovery & Development and Aveo Pharmaceuticals, Inc. Senior Secured, Maturity Date September 2024, Prime + 6.40%, Floor rate 9.65%, Cap rate 15.00%, 6.95% Exit Fee2022-12-310001280784Equity Investments Diversified Financial Services and Hercules Adviser LLC, Equity, Acquisition Date 3/26/2021, Series Member Units2022-12-310001280784htgc:OneMonthLIBORMember2023-03-310001280784Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/08/2021, Common Stock2022-12-310001280784Equity Investments Consumer & Business Services and Total Tectura Corporation2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2023-03-310001280784us-gaap:UnsecuredDebtMember2022-12-310001280784Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 11/25/2020, Series Preferred Series E2023-03-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2023-03-310001280784htgc:March2026BNotesMember2021-03-040001280784htgc:IndustrySubSectorConcentrationRiskMemberhtgc:DiversifiedFinancialServicesMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date May 2026, Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%2023-03-310001280784us-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:SBADebenturesIssuedOnJulyTwentyEightTwoThousandAndTwentyOneMember2023-03-310001280784Debt Investments Software and ThreatConnect, Inc., Senior Secured, Maturity Date May 2026, 6-month LIBOR + 9.00%, Floor rate 10.00%2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Warrant, Acquisition Date 8/1/2018, Common Stock2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784htgc:UnrealizedGainLossMember2023-01-012023-03-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784Equity Investments Drug Discovery & Development and uniQure B.V., Equity, Acquisition Date 1/31/2019, Series Common Stock2023-03-310001280784htgc:HerculesCapitalFourLPMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Rhino Labs, Inc., Warrant, Acquisition Date 3/12/2021, Common Stock2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ElectronicsComputerHardwareMember2022-01-012022-12-310001280784Debt Investments Drug Discovery & Development and Century Therapeutics, Inc. Senior Secured, Maturity Date April 2024, Prime + 6.30%, Floor rate 9.55%, 3.95% Exit Fee2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:CommunicationsAndNetworkingMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:EnmarkSystemsIncorporationMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784us-gaap-supplement:InvestmentUnaffiliatedIssuerMember2022-01-012022-03-310001280784htgc:June20253YearNotesMember2022-06-230001280784country:IE2023-03-310001280784Debt Investments Drug Discovery & Development and uniQure B.V. Senior Secured, Maturity Date December 2025, Prime + 4.70%, Floor rate 7.95%, 8.03% Exit Fee2023-03-310001280784htgc:SBADebenturesIssuedOnNovemberFifteenTwoThousandAndTwentyOneMember2022-12-310001280784Debt Investments Software and Khoros (p.k.a Lithium Technologies), Senior Secured, Maturity Date January 2024, 3-month SOFR + 8.00%, Floor rate 9.00%2023-03-310001280784Equity Investments Drug Discovery & Development and uniQure B.V., Equity, Acquisition Date 1/31/2019, Series Common Stock2022-12-310001280784Debt Investments Consumer & Business Services and RVShare, LLC, Senior Secured, Maturity Date December 2026, 3-month LIBOR + 5.50%, Floor rate 6.50%, PIK Interest 4.00%2023-03-310001280784Warrant Investments and Information Services and INMOBI Inc., Warrant, Acquisition Date 11/19/2014, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Provi, Warrant, Acquisition Date 12/22/2022, Common Stock2022-12-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMember2023-03-310001280784Debt Investments Drug Discovery & Development and enGene, Inc. Senior Secured, Maturity Date July 2025, Prime + 5.00%, Floor rate 8.25%, 6.35% Exit Fee2023-03-310001280784Debt Investments Sustainable and Renewable Technology and Ampion, PBC, Senior Secured, Maturity Date May 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 3.95% Exit Fee2022-12-310001280784Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc. Senior Secured, Maturity Date January 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee2023-03-310001280784Debt Investments Biotechnology Tools and PathAI, Inc., Senior Secured, Maturity Date January 2027, Prime + 2.15%, Floor rate 9.15%, 11.21% Exit Fee2023-03-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc.2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784us-gaap:WarrantMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784Warrant Investments and Software and Eigen Technologies Ltd., Warrant, Acquisition Date 4/13/2022, Common Stock2022-12-310001280784us-gaap:RestrictedStockMemberhtgc:CapitalInExcessOfParValueMember2022-01-012022-03-310001280784us-gaap:WarrantMemberus-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:WarrantInvestmentMember2023-01-012023-03-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Warrant Investments and Software and Cloudian, Inc., Warrant, Acquisition Date 11/6/2018, Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784htgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784us-gaap:EmployeeStockOptionMember2022-01-012022-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMember2022-01-012022-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-03-310001280784htgc:MUFGBankFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Equity Investments Drug Delivery and BioQ Pharma Incorporated, Equity, Acquisition Date 12/8/2015, Series Preferred Series D2022-12-310001280784Warrant Investments and Drug Discovery & Development and X4 Pharmaceuticals, Inc., Warrant, Acquisition Date 3/28/2019, Common Stock2023-03-310001280784Warrant Investments and Manufacturing Technology and Xometry, Inc., Warrant, Acquisition Date 5/9/2018, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Redshift Bioanalytics, Inc. Senior Secured, Maturity Date January 2026, Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784us-gaap:CreditConcentrationRiskMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:GritstoneBioIncMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:PreferredSeriesBBMemberhtgc:TecturaCorporationMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:SkydioIncorporationMember2023-03-310001280784Debt Investments Software and Agilence, Inc. Senior Secured, Maturity Date October 2026, 1-month BSBY + 9.00%, Floor rate 10.00%2022-12-310001280784Equity Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Equity, Acquisition Date 11/26/2019, Series Common Stock2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:UnsecuredMemberhtgc:CollateralTypeConcentrationRiskMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberhtgc:DemandbaseIncorporationMember2023-03-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-03-310001280784Debt Investments Software and Simon Data, Inc., Senior Secured, Maturity Date March 2027, Prime + 1.00%, Floor rate 8.75%, PIK Interest 1.95%, 2.95% Exit Fee2023-03-310001280784htgc:SBADebenturesIssuedOnNovemberFifteenTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784country:DK2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:RivieraPartnersLLCMember2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Ampion, PBC, Warrant, Acquisition Date 4/15/2022, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Bicycle Therapeutics PLC, Senior Secured, Maturity Date July 2025, Prime + 4.55%, Floor rate 8.05%, Cap rate 9.05%, 5.00% Exit Fee2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberhtgc:MeasurementInputCollateralRecoverabilityMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784htgc:IncludingCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Investments after Cash and Cash Equivalents (209.82%)2023-03-310001280784htgc:OneMonthSofrRateMember2023-03-310001280784Equity Investments and Drug Discovery & Development and Dare Biosciences, Inc., Equity, Acquisition Date 1/8/2015, Series Common Stock2023-03-310001280784Debt Investments Software and Constructor Corporation, Senior Secured, Maturity Date July 2027, 1-month SOFR + 8.44%, Floor rate 9.44%2023-03-310001280784country:IL2023-03-310001280784Equity Investments Drug Delivery and AcelRx Pharmaceuticals, Inc., Equity, Acquisition Date 12/10/2018, Series Common Stock2023-03-310001280784Equity Investments Information Services and Yipit, LLC, Equity, Acquisition Date 12/30/2021, Series Preferred Series E2023-03-310001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SemiconductorsMember2023-01-012023-03-310001280784htgc:DepreciationMemberus-gaap:FairValueInputsLevel3Memberhtgc:WarrantInvestmentMember2023-01-012023-03-310001280784Warrant Investments and Consumer & Business Products (0.17%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:CerosIncorporationMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:UnsecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-12-310001280784Warrant Investments and Medical Devices & Equipment and Intuity Medical, Inc., Warrant, Acquisition Date 12/29/2017, Preferred Series B-12023-03-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date June 2023, Prime + 5.00%, Floor rate 10.50%, PIK Interest 0.50%2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:InformationServicesMember2022-01-012022-12-310001280784Equity Investments Drug Discovery & Development and Tricida, Inc., Equity, Acquisition Date 2/28/2018, Series Common Stock2023-03-310001280784Warrant Investments and Manufacturing Technology (0.30%)2022-12-310001280784Cash & Cash Equivalents and GS Financial Square Government Fund, Cash & Cash Equivalents2023-03-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-03-310001280784Debt Investments Healthcare Services, Other and Equality Health, LLC, Senior Secured, Maturity Date February 2026, Prime + 6.25%, Floor rate 9.50%, PIK Interest 1.55%2023-03-310001280784htgc:HealthcareServicesOtherMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Thumbtack, Inc., Warrant, Acquisition Date 5/1/2018, Common Stock2023-03-310001280784Debt Investments Drug Discovery & Development and Locus Biosciences, Inc. Senior Secured, Maturity Date July 2025, Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee2022-12-310001280784Equity Investments Consumer & Business Services and Total OfferUp, Inc.2023-03-310001280784Equity Investments Drug Discovery & Development and HilleVax, Inc, Equity, Acquisition Date 5/3/2022, Series Common Stock2022-12-310001280784htgc:DividendDeclaredOneMember2022-01-012022-12-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Equity Investments Drug Delivery and Aytu BioScience, Inc., Equity, Acquisition Date 3/28/2014, Series Common Stock2023-03-310001280784htgc:LeaseAndLicenseObligationsMember2022-12-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Vida Health, Inc., Warrant, Acquisition Date 3/28/2022, Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtTwoMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-03-310001280784htgc:SMBCFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Consumer & Business Services (0.19%)2022-12-310001280784Warrant Investments and Drug Discovery & Development and Valo Health, LLC, Warrant, Acquisition Date 6/15/2020, Common Units2023-03-310001280784htgc:DeferredFeesMember2022-01-012022-12-310001280784Debt Investments Software and Leapwork ApS., Senior Secured, Maturity Date February 2026, Prime + 0.25%, Floor rate 7.25%, PIK Interest 1.95%, 2.70% Exit Fee2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Fresh Tracks Therapeutics, Inc. (p.k.a. Brickell Biotech, Inc.), Warrant, Acquisition Date 2/18/2016, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:CutoverIncMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 6/30/2016, Preferred Series A2023-03-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development (0.25%)2022-12-310001280784htgc:CommonStockInvestmentMemberus-gaap:FairValueInputsLevel3Memberhtgc:AppreciationMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:LeapworkApsMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-01-012022-03-310001280784Equity Investments Semiconductors (0.01%)2022-12-310001280784Equity Investments Consumer & Business Products and TechStyle, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-03-310001280784Debt Investments Drug Discovery & Development and Valo Health, LLC, Senior Secured, Maturity Date May 2024, Prime + 6.45%, Floor rate 9.70%, 3.85% Exit Fee2022-12-310001280784htgc:UnvestedRestrictedStockAwardsMember2023-01-012023-03-310001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 10/31/2022, Series Preferred Series C2023-03-310001280784htgc:June20253YearNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-03-310001280784Warrant Investments and Drug Delivery and Aerami Therapeutics Holdings, Inc., Warrant, Acquisition Date 9/30/2015, Common Stock2022-12-310001280784htgc:SMBCFacilityMembersrt:MaximumMember2023-01-012023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-03-310001280784htgc:February2025NotesMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMember2022-12-310001280784htgc:SixMonthSofrRateMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:YipitLLCMember2023-03-310001280784Equity Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Equity, Acquisition Date 3/1/2018, Series Preferred Series A2023-03-310001280784htgc:CommonGrossProceedsMember2022-01-012022-03-310001280784Warrant Investments and Drug Delivery and Aerami Therapeutics Holdings, Inc., Warrant, Acquisition Date 9/30/2015, Common Stock2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:InvestmentFundsAndVehiclesMember2023-01-012023-03-310001280784Debt Investments Software and Esme Learning Solutions, Inc., Senior Secured, Maturity Date February 2025, Prime + 5.50%, Floor rate 8.75%, PIK Interest 1.50%, 3.00% Exit Fee2022-12-310001280784us-gaap:WarrantMemberhtgc:WarrantInvestmentMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784Debt Investments Software and Omeda Holdings, LLC, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.05%, Floor rate 9.05%2023-03-310001280784Debt Investments Software and Dispatch Technologies, Inc., Senior Secured, Maturity Date April 2028, 3-month SOFR + 8.01%, Floor rate 8.76%2023-03-310001280784Debt Investments Healthcare Services, Other and Carbon Health Technologies, Inc. Senior Secured, Maturity Date March 2025, Prime + 5.60%, Floor rate 8.85%, 4.61% Exit Fee2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Tela Bio, Inc., Warrant, Acquisition Date 3/31/2017, Common Stock2023-03-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 9.27%, Floor rate 10.27%2023-03-310001280784htgc:MUFGBankFacilityMember2022-12-310001280784Debt Investments Drug Discovery & Development and Alladapt Immunotherapeutics Inc. Senior Secured, Maturity Date September 2026, Prime + 3.65%, Floor rate 8.40%, Cap rate 10.90%, 9.09% Exit Fee2023-03-310001280784Warrant Investments and Software and SignPost, Inc., Warrant, Acquisition Date 1/13/2016, Series Junior 1 Preferred2022-12-310001280784Debt Investments Drug Discovery & Development and Iveric Bio, Inc. Senior Secured, Maturity Date August 2027, Prime + 4.00%, Floor rate 8.75%, Cap rate 10.25%, 4.25% Exit Fee2023-03-310001280784Debt Investments Software and Agilence, Inc. Senior Secured, Maturity Date October 2026, 1-month BSBY + 9.00%, Floor rate 10.00%2023-03-310001280784htgc:ConsumerAndBusinessServicesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:MacroFabIncorporationMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ZimperiumIncMember2022-12-310001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024, FIXED 8.25%2022-12-3100012807842022-03-090001280784Debt Investments Drug Discovery & Development and Nabriva Therapeutics, Senior Secured, Maturity Date June 2023, Prime + 4.30%, Floor rate 9.80%, 9.95% Exit Fee2022-12-310001280784us-gaap:UnsecuredDebtMember2023-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMember2022-12-310001280784Equity Investments Electronics & Computer Hardware and Locus Robotics Corp., Equity, Acquisition Date 11/17/2022, Series Preferred Series F2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Polyera Corporation, Warrant, Acquisition Date 3/24/2015, Preferred Series C2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-03-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:AlamarBiosciencesIncorporationMember2022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:MemberUnitsMember2022-03-310001280784htgc:SeniorSecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784htgc:DebtInvestmentsMemberhtgc:PhathomPharmaceuticalsIncMember2023-03-310001280784Debt Investments Software and VideoAmp, Inc., Senior Secured, Maturity Date February 2025, Prime + 3.70%, Floor rate 6.95%, PIK Interest 1.25%, 5.25% Exit Fee2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784Warrant Investments and Manufacturing Technology and Bright Machines, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2023-03-310001280784us-gaap:SubsequentEventMemberhtgc:SupplementalDividendMember2023-05-230001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784htgc:SBADebenturesIssuedOnNovemberThirtyTwoThousandAndTwentyOneMember2023-03-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMember2022-03-310001280784htgc:DebtInvestmentsMemberhtgc:KuraOncologyIncMember2023-03-310001280784htgc:SBADebenturesIssuedOnOctoberTwentyOneTwoThousandAndTwentyOneMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784Equity Investments Consumer & Business Services and Total Tectura Corporation2022-12-310001280784Debt Investments Drug Discovery & Development and Viridian Therapeutics, Inc. Senior Secured, Maturity Date October 2026, Prime + 4.20%, Floor rate 7.45%, Cap rate 8.95%, 4.76% Exit Fee2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:HilleVaxIncMember2023-03-310001280784Debt Investments Software and Ceros, Inc., Senior Secured, Maturity Date September 2026, 6-month LIBOR + 8.89%, Floor rate 9.89%2023-03-310001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 11/20/2018, Series Preferred Series D2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:SkydioIncorporationMember2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:SeniorSecuredDebtMember2022-01-012022-03-310001280784Warrant Investments and Manufacturing Technology and Bright Machines, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2022-12-310001280784Debt Investments Software and Zimperium, Inc., Senior Secured, Maturity Date May 2027, 3-month SOFR + 8.31%, Floor rate 9.31%2022-12-310001280784htgc:DeferredFeesMember2023-01-012023-03-310001280784Warrant Investments and Electronics & Computer Hardware and 908 Devices, Inc., Warrant, Acquisition Date 3/15/2017, Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:FlightScheduleProLlcMember2022-12-310001280784Warrant Investments and Software and Demandbase, Inc., Warrant, Acquisition Date 8/2/2021, Common Stock2022-12-310001280784htgc:ControlAndAffiliateInvestmentsMember2022-03-310001280784Warrant Investments and Software and Evernote Corporation, Warrant, Acquisition Date 9/30/2016, Common Stock2022-12-310001280784htgc:HerculesCapitalFourLPMember2020-10-270001280784htgc:StreamlineHealthcareSolutionsMemberhtgc:DebtInvestmentsMember2022-12-310001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 9.28%, Floor rate 10.28%2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyTwoThousandAndTwentyOneMember2023-03-310001280784Investments in Securities (208.56%)2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Equity Investments Drug Discovery & Development and Tricida, Inc., Equity, Acquisition Date 2/28/2018, Series Common Stock2022-12-310001280784htgc:ForbionGrowthOpportunitiesFundICVMemberhtgc:InvestmentFundsAndVehiclesMember2022-12-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Acquisition Date 5/23/2018, Series Common Stock2022-12-310001280784htgc:ThreeGTMSLLCMemberhtgc:DebtInvestmentsMember2023-03-310001280784us-gaap:RestrictedStockMemberhtgc:DirectorPlanMember2018-06-280001280784htgc:DebtInvestmentsMemberhtgc:AlchemerLLCMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Scynexis, Inc., Warrant, Acquisition Date 5/14/2021, Common Stock2022-12-310001280784Debt Investments Consumer & Business Services and Collective Health, Inc.Senior Secured, Maturity Date September 2023, Prime + 4.75%, Floor rate 12.50%2023-03-310001280784Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Common Units2022-12-310001280784Debt Investments Sustainable and Renewable Technology (0.50%)2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SBADebenturesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Akero Therapeutics, Inc., Warrant, Acquisition Date 6/15/2022, Common Stock2023-03-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Equity Investments Healthcare Services, Other (0.21%)2022-12-310001280784Warrant Investments and Software and Fulfil Solutions, Inc., Warrant, Acquisition Date 7/29/2022, Common Stock2023-03-310001280784htgc:MUFGBankFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001280784htgc:SustainableAndRenewableTechnologyMember2023-03-310001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 6.57%, Floor rate 7.57%2022-12-310001280784htgc:LastOutWithSecurityInterestInAllOfTheAssetsMemberus-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784Equity Investments Software and Palantir Technologies, Equity, Acquisition Date 9/23/2020, Series Common Stock2023-03-310001280784Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc. Senior Secured, Maturity Date October 2024, Prime + 3.10%, Floor rate 8.60%, 8.90% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784Equity Investments Diversified Financial Services (2.49%)2022-12-310001280784Equity Investments Information Services and Zeta Global Corp., Equity, Acquisition Date 11/20/2007, Series Common Stock2022-12-310001280784Equity Investments Software and HighRoads, Inc., Equity, Acquisition Date 1/18/2013, Series Common Stock2023-03-310001280784Debt Investments Drug Discovery & Development and Corium, Inc. Senior Secured, Maturity Date September 2026, Prime + 5.70%, Floor rate 8.95%, 7.75% Exit Fee2022-12-310001280784Warrant Investments and Drug Discovery & Development and enGene, Inc., Warrant, Acquisition Date 12/30/2021, Preferred Series 32023-03-310001280784htgc:LiabilityClassifiedAwardsMember2023-01-012023-03-310001280784Warrant Investments and Drug Delivery (0.00%)2023-03-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap:CommonStockMember2021-12-310001280784us-gaap:SubsequentEventMemberhtgc:SupplementalDividendMember2022-03-092023-04-270001280784us-gaap:PreferredStockMemberhtgc:EquityInvestmentsMember2022-12-310001280784Equity Investments Diversified Financial Services and Newfront Insurance Holdings, Inc., Equity, Acquisition Date 9/30/2021, Series Preferred Series D-22022-12-310001280784Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 8/12/2021, Series Preferred Series F2022-12-310001280784Warrant Investments and Software and The Faction Group LLC, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2023-03-310001280784country:IE2022-12-310001280784Debt Investments Software and 3GTMS, LLC2022-12-310001280784htgc:DividendDeclaredThreeMember2022-05-242022-05-240001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Debt Investments Sustainable and Renewable Technology and Ampion, PBC, Senior Secured, Maturity Date May 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 3.95% Exit Fee2023-03-310001280784Warrant Investments and Software (0.64%)2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:AlladaptImmunotherapeuticsincMember2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Debt Investments Drug Discovery & Development and Replimune Group, Inc. Senior Secured, Maturity Date October 2027, Prime + 1.75%, Floor rate 7.25%, Cap rate 9.00%, PIK Interest 1.50%, 4.95% Exit Fee2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:MediaContentInfoMember2023-03-310001280784htgc:SMBCFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-03-310001280784Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc. Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee2022-12-310001280784htgc:PerformanceVestingAwardsMember2023-01-012023-03-310001280784Warrant Investments and Information Services (0.03%)2023-03-310001280784Debt Investments Information Services and Signal Media Limited, Senior Secured, Maturity Date June 2025, Prime + 5.50%, Floor rate 9.00%, Cap rate 12.00%, 3.45% Exit Fee2022-12-310001280784Equity Investments Drug Discovery & Development and Bicycle Therapeutics PLC, Equity, Acquisition Date 10/5/2020, Series Common Stock2022-12-310001280784htgc:June20253YearNotesMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:BlackCrowAIIncMember2022-03-310001280784Equity Investments Medical Devices & Equipment, Coronado Aesthetics, LLC2023-03-310001280784Equity Investments Semiconductors (0.02%)2023-03-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date June 2023, Prime + 5.00%, Floor rate 10.50%, PIK Interest 0.50%2023-03-310001280784Debt Investments Drug Discovery & Development and Geron Corporation, Senior Secured, Maturity Date April 2025, Prime + 5.75%, Floor rate 9.00%, 6.55% Exit Fee2023-03-310001280784Equity Investments Surgical Devices and TransMedics Group, Inc., Equity, Acquisition Date 11/7/2012, Series Common Stock2023-03-310001280784Equity Investments Medical Devices & Equipment (0.04%)2023-03-310001280784htgc:CapitalInExcessOfParValueMember2021-12-310001280784Equity Investments Electronics & Computer Hardware and Skydio, Inc., Equity, Acquisition Date 3/8/2022, Series Preferred Series E2023-03-310001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A-12022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:SixMonthLIBORMember2022-12-310001280784Debt Investments Healthcare Services, Other and Carbon Health Technologies, Inc. Senior Secured, Maturity Date March 2025, Prime + 5.60%, Floor rate 8.85%, 4.61% Exit Fee2022-12-310001280784Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc. Senior Secured, Maturity Date November 2026, 3-month LIBOR + 5.00%, Floor rate 6.00%, PIK Interest 4.45%2023-03-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 8/23/2019, Preferred Series B2023-03-310001280784htgc:ConsumerAndBusinessServicesMember2022-12-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2023-01-012023-03-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:CommonStockMember2021-12-310001280784Warrant Investments and Software and Demandbase, Inc., Warrant, Acquisition Date 8/2/2021, Common Stock2023-03-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784Debt Investments Software (54.28%)2022-12-310001280784htgc:AdviserFundsMember2022-12-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 6/6/2016, Series Preferred Series BB2022-12-310001280784htgc:June20253YearNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Consumer & Business Products and TFG Holding, Inc., Warrant, Acquisition Date 6/27/2014, Common Stock2023-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784htgc:March2026BNotesMember2021-03-042021-03-040001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated2023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784htgc:SMBCFacilityMembersrt:MaximumMember2023-03-310001280784Warrant Investments and Software and Bitsight Technologies, Inc., Warrant, Acquisition Date 11/18/2020, Common Stock2023-03-310001280784us-gaap:FairValueInputsLevel2Memberhtgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessProductsMember2022-01-012022-12-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Series Preferred Series C2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:TipaltiSolutionsLtdMember2023-03-310001280784Debt Investments Diversified Financial Services and Next Insurance, Inc, Senior Secured, Maturity Date February 2028, Prime + -1.50%, Floor rate 4.75%, PIK Interest 5.50%2023-03-310001280784us-gaap:SalesRevenueNetMemberus-gaap:UnsecuredDebtMemberhtgc:InvestmentTypeConcentrationRiskMember2023-01-012023-03-310001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 12/22/2020, Series Preferred Series C2023-03-310001280784Equity Investments Drug Discovery & Development and Rocket Pharmaceuticals, Ltd., Equity, Acquisition Date 8/22/2007, Series Common Stock2023-03-310001280784htgc:OtherMember2023-03-310001280784Debt Investments Electronics & Computer Hardware and Locus Robotics Corp. Senior Secured, Maturity Date June 2026, Prime + 4.50%, Floor rate 8.00%, 1.00% Exit Fee2023-03-310001280784us-gaap:WarrantMemberus-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:WarrantInvestmentMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:DispatchTechnologiesIncMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueOtherMember2023-03-310001280784Debt Investments Software and ThreatConnect, Inc., Senior Secured, Maturity Date May 2026, 6-month LIBOR + 9.00%, Floor rate 10.00%2023-03-310001280784Equity Investments Information Services and Planet Labs, Inc., Equity, Acquisition Date 6/21/2019, Series Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784htgc:June2025NotesMember2023-01-012023-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2022-12-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Polyera Corporation, Warrant, Acquisition Date 3/24/2015, Preferred Series C2022-12-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMember2023-03-310001280784htgc:January2027NotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc.2023-03-310001280784htgc:ExitFeesAmortizationMember2023-01-012023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784Warrant Investments and Information Services and INMOBI Inc., Warrant, Acquisition Date 11/19/2014, Common Stock2023-03-310001280784htgc:MUFGBankFacilityMember2023-01-012023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:KhorosPKLithiumTechnologiesMemberhtgc:DebtInvestmentsMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-01-012022-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784htgc:ControlInvestmentsMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-01-012022-03-310001280784Warrant Investments and Drug Discovery & Development and Dermavant Sciences Ltd., Warrant, Acquisition Date 5/31/2019, Common Stock2022-12-310001280784htgc:ControlInvestmentsMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsWithNegativePledgeOnIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AxsomeTherapeuticsIncMember2022-12-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2022-12-310001280784Debt Investments Drug Discovery & Development and Scynexis, Inc. Senior Secured, Maturity Date March 2025, Prime + 5.80%, Floor rate 9.05%, 3.95% Exit Fee2023-03-310001280784Debt Investments Healthcare Services, Other and Oak Street Health, Inc. Senior Secured, Maturity Date October 2027, Prime + 2.45%, Floor rate 7.95%, Cap rate 9.45%, PIK Interest 1.00%, 4.95% Exit Fee2023-03-310001280784Debt Investments Drug Discovery & Development and Finch Therapeutics Group, Inc. Senior Secured, Maturity Date November 2026, Prime + 4.05%, Floor rate 7.55%, Cap rate 8.80%, 5.50% Exit Fee2022-12-310001280784htgc:BiotechnologyToolsMember2023-03-310001280784htgc:SBADebenturesIssuedOnOctoberTwentyOneTwoThousandAndTwentyOneMember2022-12-310001280784Warrant Investments and Manufacturing Technology and Xometry, Inc., Warrant, Acquisition Date 5/9/2018, Common Stock2023-03-310001280784htgc:GeographicLocationMember2023-01-012023-03-310001280784htgc:OtherMember2022-12-310001280784htgc:PerformanceVestingAwardsMember2023-03-310001280784us-gaap:SubsequentEventMemberhtgc:SupplementalDividendMember2023-05-232023-05-230001280784Debt Investments Communications & Networking (7.26%)2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:FebruaryTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Warrant Investments and Manufacturing Technology and MacroFab, Inc., Warrant, Acquisition Date 3/23/2022, Common Stock2023-03-310001280784htgc:DebtInvestmentMember2022-01-012022-03-310001280784Warrant Investments and Software and DroneDeploy, Inc., Warrant, Acquisition Date 6/30/2022, Common Stock2022-12-310001280784htgc:ZappiIncMemberhtgc:DebtInvestmentsMember2023-03-310001280784Debt Investments Drug Discovery & Development and Alladapt Immunotherapeutics Inc. Senior Secured, Maturity Date September 2026, Prime + 3.65%, Floor rate 8.40%, Cap rate 10.90%, 10.60% Exit Fee2022-12-310001280784htgc:June20253YearNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Equity Investments Information Services (0.40%)2023-03-310001280784Warrant Investments and Software and SingleStore, Inc., Warrant, Acquisition Date 4/28/2020, Preferred Series D2022-12-310001280784Debt Investments Software and ShadowDragon, LLC, Senior Secured, Maturity Date December 2026, 3-month LIBOR + 9.00%, Floor rate 10.00%2022-12-310001280784htgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-03-310001280784htgc:SecurityTypeMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:YipitLLCMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Warrant Investments and Software and Mixpanel, Inc., Warrant, Acquisition Date 9/30/2020, Common Stock2022-12-310001280784Equity Investments Diversified Financial Services, Gibraltar Business Capital, LLC2023-03-310001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtInvestmentsImminentPayoffsMember2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784us-gaap:PreferredStockMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:BlackCrowAIIncMember2022-01-012022-03-310001280784Warrant Investments and Drug Discovery & Development and AmplifyBio, LLC, Warrant, Acquisition Date 12/27/2022, Class A Units2022-12-310001280784Warrant Investments and Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Warrant, Acquisition Date 9/17/2021, Common Stock2022-12-310001280784htgc:SBADebenturesMember2022-01-012022-03-310001280784us-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMember2023-03-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784country:IEus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784htgc:SBADebenturesIssuedOnJanuaryFourteenTwoThousandAndTwentyTwoMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AkeroTherapeuticsIncMember2022-12-310001280784htgc:AdviserSubsidiaryMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-01-012023-03-310001280784htgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 8/12/2021, Series Preferred Series F2023-03-310001280784Debt Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc. Senior Secured, Maturity Date February 2027, Prime + 4.45%, Floor rate 8.45%, Cap rate 11.45%, 4.75% Exit Fee2023-03-310001280784Debt Investments Software and Salary.com, LLC, Senior Secured, Maturity Date September 2027, 6-month SOFR + 8.00%, Floor rate 9.00%2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2023-03-310001280784Warrant Investments and Consumer & Business Services and RumbleON, Inc., Warrant, Acquisition Date 4/30/2018, Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-03-310001280784htgc:SBADebenturesIssuedOnJanuaryFourteenTwoThousandAndTwentyTwoMember2023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SBADebenturesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AryakaNetworksIncMember2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMemberhtgc:UnderwritingMember2023-03-310001280784Equity Investments Software and Lightbend, Inc., Equity, Acquisition Date 12/4/2020, Series Common Stock2022-12-310001280784htgc:FeverLabsIncMemberhtgc:DebtInvestmentsMember2023-03-310001280784Warrant Investments and Software and Delphix Corp., Warrant, Acquisition Date 10/8/2019, Common Stock2023-03-310001280784us-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Warrant Investments and Software and Fulfil Solutions, Inc., Warrant, Acquisition Date 7/29/2022, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Hibercell, Inc. Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee2023-03-310001280784Equity Investments Drug Discovery & Development and Dynavax Technologies, Equity, Acquisition Date 7/22/2015, Series Common Stock2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMember2021-12-310001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A-12023-03-310001280784htgc:SeptemberTwoThousandTwentySixNotesMember2022-01-012022-03-310001280784Debt Investments Semiconductors (1.51%)2022-12-310001280784htgc:TarsusPharmaceuticalsIncMemberhtgc:DebtInvestmentsMember2023-03-310001280784Debt Investments Software and Catchpoint Systems, Inc., Senior Secured, Maturity Date June 2026, 3-month SOFR + 8.86%, Floor rate 9.76%2022-12-310001280784htgc:DiversifiedFinancialServicesMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 12/18/2018, Series Preferred Series F-12023-03-310001280784Debt Investments Software and Nextroll, Inc., Senior Secured, Maturity Date July 2023, Prime + 3.75%, Floor rate 7.75%, PIK Interest 2.95%, 1.95% Exit Fee2022-12-310001280784Warrant Investments and Consumer & Business Products and TFG Holding, Inc., Warrant, Acquisition Date 6/27/2014, Common Stock2022-12-310001280784Debt Investments Consumer & Business Services and Houzz, Inc. Convertible Debt, Maturity Date May 2028, PIK Interest 5.50%2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:VidaHealthMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 8/23/2019, Preferred Series B2022-12-3100012807842022-01-012022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerMember2022-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:BrainCorporationMember2022-12-310001280784Debt Investments Drug Discovery & Development and Valo Health, LLC, Senior Secured, Maturity Date May 2024, Prime + 6.45%, Floor rate 9.70%, 3.85% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-01-012022-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2022-12-310001280784Debt Investments Drug Discovery & Development and Unity Biotechnology, Inc. Senior Secured, Maturity Date August 2024, Prime + 6.10%, Floor rate 9.35%, 6.25% Exit Fee2023-03-310001280784us-gaap:RestrictedStockMemberhtgc:CapitalInExcessOfParValueMember2023-01-012023-03-310001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Century Therapeutics, Inc., Warrant, Acquisition Date 9/14/2020, Common Stock2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:FulfilSolutionsIncMember2022-12-310001280784Equity Investments Semiconductors and Achronix Semiconductor Corporation, Equity, Acquisition Date 7/1/2011, Series Preferred Series C2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerMemberhtgc:ControlAndAffiliateInvestmentsMember2022-01-012022-03-310001280784htgc:SBADebenturesIssuedOnAugustTwentyTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:EquityInvestmentsMemberus-gaap:CommonStockMember2023-01-012023-03-310001280784Warrant Investments and Software and Convoy, Inc., Warrant, Acquisition Date 3/30/2022, Common Stock2022-12-310001280784htgc:ManufacturingTechnologyMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784htgc:SignalMediaLimitedMemberhtgc:DebtInvestmentsMember2023-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:CA2022-01-012022-12-310001280784us-gaap:CommonStockMember2023-01-012023-03-310001280784htgc:DeferredFeesMember2022-12-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784Debt Investments Drug Discovery & Development and Bicycle Therapeutics PLC, Senior Secured, Maturity Date July 2025, Prime + 4.55%, Floor rate 8.05%, Cap rate 9.05%, 5.00% Exit Fee2023-03-310001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Equity Investments Drug Discovery & Development, Valo Health LLC2022-12-310001280784Warrant Investments and Media/Content/Info and Fever Labs, Inc., Warrant, Acquisition Date 12/30/2022, Preferred Series E-12022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-01-012023-03-310001280784htgc:IndustrySectorMember2023-01-012023-03-310001280784Equity Investments Drug Discovery & Development and Humanigen, Inc., Equity, Acquisition Date 3/31/2021, Series Common 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Preferred Series 32022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-03-3100012807842022-12-310001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, Maturity Date August 2026, 6-month SOFR + 8.63%, Floor rate 9.38%2023-03-310001280784Debt Investments Software and Dashlane, Inc., Senior Secured, Maturity Date July 2025, Prime + 3.05%, Floor rate 7.55%, PIK Interest 1.10%, 6.29% Exit Fee2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMember2022-01-012022-03-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2023-03-310001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Kura Oncology, Inc., Warrant, Acquisition Date 11/2/2022, Common Stock2023-03-310001280784htgc:MUFGBankFacilityMember2022-01-012022-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap-supplement:InvestmentUnaffiliatedIssuerMember2023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:DrugDeliveryMember2022-01-012022-12-310001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 9/21/2018, Preferred Series BB2023-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-03-310001280784Warrant Investments and Software and Reltio, Inc., Warrant, Acquisition Date 6/30/2020, Common Stock2023-03-310001280784Debt Investments Communications & Networking and Aryaka Networks, Inc. Senior Secured, Maturity Date July 2026, Prime + 3.25%, Floor rate 6.75%, PIK Interest 1.05%, 3.55% Exit Fee2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:AlchemerLLCMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SurgicalDevicesMember2022-01-012022-12-310001280784Warrant Investments and Medical Devices & Equipment and Aspire Bariatrics, Inc., Warrant, Acquisition Date 1/28/2015, Common Stock2023-03-310001280784Debt Investments Consumer & Business Services and Worldremit Group Limited, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 9.25%, Floor rate 10.25%, 3.20% Exit Fee2023-03-310001280784htgc:DividendDeclaredThreeMember2022-01-012022-12-310001280784htgc:September2026NotesMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:LogicSourceMember2022-12-3100012807842023-03-310001280784htgc:SBADebenturesMember2023-01-012023-03-310001280784Warrant Investments and Drug Delivery and BioQ Pharma Incorporated, Warrant, Acquisition Date 10/27/2014, Common Stock2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Software and Couchbase, Inc., Warrant, Acquisition Date 4/25/2019, Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2022-03-310001280784us-gaap:WarrantMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-03-310001280784htgc:DiscountsAmortizationMember2023-01-012023-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DE2023-01-012023-03-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2022-01-012022-03-310001280784htgc:SBADebenturesIssuedOnJanuaryTwentyOneTwoThousandAndTwentyTwoMember2023-01-012023-03-310001280784Debt Investments Information Services and Yipit, LLC, Senior Secured, Maturity Date September 2026, 1-month SOFR + 9.14%, Floor rate 10.04%2023-03-310001280784Debt Investments Drug Discovery & Development and Cellarity, Inc. Senior Secured, Maturity Date June 2026, Prime + 5.70%, Floor rate 8.95%, 3.75% Exit Fee2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyEightTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-03-310001280784Debt Investments Drug Discovery & Development and Unity Biotechnology, Inc. Senior Secured, Maturity Date August 2024, Prime + 6.10%, Floor rate 9.35%, 6.25% Exit Fee2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:HerculesCapitalFourLPMember2023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessProductsMember2023-01-012023-03-310001280784Warrant Investments and Biotechnology Tools and Alamar Biosciences, Inc., Warrant, Acquisition Date 6/21/2022, Preferred Series B2022-12-310001280784htgc:September2026NotesMember2023-03-310001280784htgc:DividendDeclaredTwoMember2022-01-012022-12-310001280784Warrant Investments and Drug Discovery & Development and X4 Pharmaceuticals, Inc., Warrant, Acquisition Date 12/9/2022, Common Stock2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-03-310001280784Debt Investments Drug Discovery & Development and Codiak Biosciences, Inc. Senior Secured, Maturity Date October 2025, Prime + 5.00%, Floor rate 8.25%, 5.50% Exit Fee2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:DemandbaseIncorporationMember2022-12-310001280784Warrant Investments and Information Services and NetBase Solutions, Inc., Warrant, Acquisition Date 8/22/2017, Preferred Series 12023-03-310001280784country:IL2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2022-12-310001280784us-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Equity Investments Drug Discovery & Development and Albireo Pharma, Inc., Equity, Acquisition Date 9/14/2020, Series Common Stock2022-12-310001280784htgc:March2026ANotesMember2023-03-310001280784htgc:SumitomoMitsuiBankingCorporationFacilityMember2023-01-012023-03-310001280784Warrant Investments and Software and Leapwork ApS, Warrant, Acquisition Date 1/23/2023, Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:OtherControlInvestmentsMember2022-03-310001280784Warrant Investments and Software and Tact.ai Technologies, Inc., Warrant, Acquisition Date 2/13/2020, Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Series Preferred Series C2023-03-310001280784country:GB2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Lucira Health, Inc., Warrant, Acquisition Date 2/4/2022, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Seres Therapeutics, Inc. Senior Secured, Maturity Date October 2024, Prime + 6.40%, Floor rate 9.65%, 4.98% Exit Fee2023-03-310001280784htgc:AdviserSubsidiaryMember2023-03-310001280784htgc:RealizedGainLossMember2023-01-012023-03-310001280784Equity Investments Software and Nextdoor.com, Inc., Equity, Acquisition Date 8/1/2018, Series Common Stock2023-03-310001280784Investment Funds & Vehicles Investments (0.28%)2022-12-310001280784htgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:TechnologyMember2022-12-310001280784Debt Investments Drug Discovery & Development and Geron Corporation, Senior Secured, Maturity Date October 2024, Prime + 5.75%, Floor rate 9.00%, 6.55% Exit Fee2022-12-310001280784Debt Investments Consumer & Business Services and Thumbtack, Inc. Senior Secured, Maturity Date April 2026, Prime + 4.95%, Floor rate 8.20%, PIK Interest 1.50%, 3.95% Exit Fee2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784Debt Investments (199.47%)2022-12-310001280784us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784Equity Investments Software, SingleStore, Inc.2022-12-310001280784Equity Investments Semiconductors and Achronix Semiconductor Corporation, Equity, Acquisition Date 7/1/2011, Series Preferred Series C2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 8/27/2021, Preferred Series E2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001280784htgc:SBADebenturesMember2022-12-310001280784Debt Investments Software and Riviera Partners LLC, Senior Secured, Maturity Date April 2027, 6-month SOFR + 7.53%, Floor rate 8.53%2023-03-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc.2022-12-310001280784Equity Investments Drug Discovery & Development and Applied Molecular Transport, Equity, Acquisition Date 4/6/2021, Series Common Stock2022-12-310001280784Warrant Investments and Software and Cutover, Inc., Warrant, Acquisition Date 9/21/2022, Common Stock2023-03-310001280784htgc:HerculesCapitalFourLPMember2023-01-012023-03-310001280784htgc:DeferredFeesMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and ADMA Biologics, Inc., Warrant, Acquisition Date 2/24/2014, Common Stock2023-03-310001280784Debt Investments Diversified Financial Services and Hercules Adviser LLC, Unsecured, Maturity Date June 2025, FIXED 5.00%2022-12-310001280784Debt Investments Drug Discovery & Development and Phathom Pharmaceuticals, Inc. Senior Secured, Maturity Date October 2026, Prime + 2.25%, Floor rate 5.50%, PIK Interest 3.35%, 7.50% Exit Fee2023-03-310001280784country:US2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:AffiliateInvestmentsMember2022-01-012022-03-310001280784Equity Investments Electronics & Computer Hardware and Skydio, Inc., Equity, Acquisition Date 3/8/2022, Series Preferred Series E2022-12-310001280784Warrant Investments and Software and Elation Health, Inc., Warrant, Acquisition Date 9/12/2022, Common Stock2022-12-310001280784htgc:DistributableEarningsLossMember2022-01-012022-03-310001280784Equity Investments Consumer & Business Services and Rhino Labs, Inc., Equity, Acquisition Date 1/24/2022, Series Preferred Series B-22023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ElationHealthIncMember2022-12-310001280784us-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund I C.V., Investment Funds & Vehicles, Acquisition Date 11/16/20202023-03-310001280784country:DE2022-12-310001280784Debt Investments Software and Fortified Health Security, Senior Secured, Maturity Date December 2027, 6-month SOFR + 7.79%, Floor rate 8.54%2023-03-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-03-310001280784Warrant Investments and Media/Content/Info 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Equity, Acquisition Date 12/8/2015, Series Preferred Series D2023-03-310001280784htgc:AssetBackedNotesMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 8/24/2017, Series Preferred Series 32023-03-310001280784Equity Investments Consumer & Business Products and TechStyle, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Impossible Foods, Inc., Equity, Acquisition Date 5/10/2019, Series Preferred Series E-12023-03-310001280784Warrant Investments and Drug Discovery & Development and Cellarity, Inc., Warrant, Acquisition Date 12/8/2021, Preferred Series B2022-12-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 5/23/2018, Series Common 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Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2022-01-012022-03-310001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 10/22/2015, Series Preferred Series 22022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-03-310001280784country:US2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2023-03-310001280784htgc:ZappiIncMemberhtgc:DebtInvestmentsMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:OtherControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMember2023-01-012023-03-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/22/2014, Preferred Series A2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SecondLienMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784Debt Investments Software and Campaign Monitor Limited, Senior Secured, Maturity Date November 2025, 6-month SOFR + 8.90%, Floor rate 9.90%2022-12-310001280784htgc:SMBCFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Debt Investments Software and Zappi, Inc., Senior Secured, Maturity Date December 2027, 3-month SOFR + 8.03%, Floor rate 9.03%2023-03-310001280784Equity Investments Medical Devices & Equipment and ViewRay, Inc., Equity, Acquisition Date 12/16/2013, Series Common Stock2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784htgc:TwoThousandTwentyTwoConvertibleNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 12/11/2020, Series Preferred Series B2022-12-310001280784Warrant Investments and Software and Reltio, Inc., Warrant, Acquisition Date 6/30/2020, Common Stock2022-12-310001280784Debt Investments Software and Esme Learning Solutions, Inc., Senior Secured, Maturity Date February 2025, Prime + 5.50%, Floor rate 8.75%, PIK Interest 1.50%, 3.00% Exit Fee2023-03-310001280784htgc:EquityAndWarrantInvestmentsMember2023-01-012023-03-310001280784Debt Investments Consumer & Business Services and Jobandtalent USA, Inc. Senior Secured, Maturity Date February 2025, 1-month SOFR + 8.86%, Floor rate 9.75%, 3.00% Exit Fee2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 2/11/2021, Preferred Series D2023-03-310001280784Warrant Investments and Software and The Faction Group LLC, Warrant, Acquisition Date 11/3/2014, Preferred Series 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Services, Veem, Inc.2022-12-310001280784Equity Investments Diversified Financial Services and Hercules Adviser LLC, Equity, Acquisition Date 3/26/2021, Series Member Units2023-03-310001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024 One, PIK Interest 5.00%2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:OtherControlInvestmentsMember2022-01-012022-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:AssetBackedNotesMember2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-03-310001280784Equity Investments Drug Discovery & Development and Savara, Inc., Equity, Acquisition Date 8/11/2015, Series Common Stock2023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MediaContentInfoMember2022-01-012022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:SeriesAPreferredStockMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-03-310001280784htgc:June2025NotesMember2023-03-310001280784htgc:CybermaxxIntermediateHoldingsIncorporationMemberhtgc:DebtInvestmentsMember2023-03-310001280784Equity Investments Consumer & Business Services and Total OfferUp, Inc.2022-12-310001280784Debt Investments Drug Discovery & Development and HilleVax, Inc. Senior Secured, Maturity Date May 2027, Prime + 1.05%, Floor rate 4.55%, Cap rate 6.05%, PIK Interest 2.85%, 7.15% Exit Fee2023-03-310001280784Warrant Investments and Sustainable and Renewable Technology and Ampion, PBC, Warrant, Acquisition Date 4/15/2022, Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:CutoverIncMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784htgc:PromissoryNotesMemberhtgc:BlackCrowAIIncMember2022-12-310001280784Warrant Investments and Software and Aria Systems, Inc., Warrant, Acquisition Date 5/22/2015, Preferred Series G2023-03-310001280784Equity Investments Drug Discovery & Development and Humanigen, Inc., Equity, Acquisition Date 3/31/2021, Series Common Stock2023-03-310001280784htgc:TwoThousandTwentyTwoConvertibleNotesMember2022-01-012022-03-310001280784Equity Investments Sustainable and Renewable Technology and NantEnergy, LLC, Equity, Acquisition Date 8/31/2013, Series Common Units2023-03-310001280784htgc:SBADebenturesIssuedOnAugustTwentyTwoThousandAndTwentyOneMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Udacity, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2023-03-310001280784Equity Investments Diversified Financial Services and Newfront Insurance Holdings, Inc., Equity, Acquisition Date 9/30/2021, Series Preferred Series D-22023-03-310001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:MadrigalPharmaceuticalIncMember2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Impossible Foods, Inc., Equity, Acquisition Date 5/10/2019, Series Preferred Series E-12022-12-310001280784Equity Investments Sustainable and Renewable Technology and Pivot Bio, Inc., Equity, Acquisition Date 6/28/2021, Series Preferred Series D2022-12-310001280784Warrant Investments and Software and Dashlane, Inc., Warrant, Acquisition Date 3/11/2019, Common Stock2023-03-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784Warrant Investments and Software and First Insight, Inc., Warrant, Acquisition Date 5/10/2018, Preferred Series B2022-12-310001280784Debt Investments Software and Dashlane, Inc., Senior Secured, Maturity Date July 2025, Prime + 3.05%, Floor rate 7.55%, PIK Interest 1.10%, 4.95% Exit Fee2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ConstructorIoCorporationMember2022-12-310001280784Debt Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Senior Secured, Maturity Date December 2024, PIK Interest 10.00%2022-12-310001280784htgc:PerformanceDeuMember2022-01-012022-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:GB2023-01-012023-03-310001280784htgc:TwoThousandEighteenMemberus-gaap:RestrictedStockMember2018-06-280001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 1/18/2007, Series Preferred Series B2022-12-310001280784Debt Investments Manufacturing Technology and Ouster, Inc. Senior Secured, Maturity Date May 2026, Prime + 6.15%, Floor rate 9.40%, 7.45% Exit Fee2022-12-310001280784htgc:ContractualInterestIncomeMember2023-01-012023-03-310001280784htgc:AcceleratedFeeIncomeEarlyRepaymentsMember2022-01-012022-03-310001280784Equity Investments Drug Delivery (0.00%)2023-03-310001280784Warrant Investments and Drug Delivery and PDS Biotechnology Corporation, Warrant, Acquisition Date 8/28/2014, Common Stock2022-12-310001280784htgc:ModernLifeIncMemberhtgc:DebtInvestmentsMember2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:CommonStockMember2022-03-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-03-310001280784htgc:CommunicationsAndNetworkingMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MedicalDevicesAndEquipmentMember2022-01-012022-12-310001280784htgc:SurgicalDevicesMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784Warrant Investments and Information Services and Capella Space Corp., Warrant, Acquisition Date 10/21/2021, Common Stock2023-03-310001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Warrant Investments and Medical Devices & Equipment and Tela Bio, Inc., Warrant, Acquisition Date 3/31/2017, Common Stock2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/7/2015, Preferred Series B2022-12-310001280784Debt Investments Healthcare Services, Other and Equality Health, LLC, Senior Secured, Maturity Date February 2026, Prime + 6.25%, Floor rate 9.50%, PIK Interest 1.55%2022-12-310001280784htgc:SMBCFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784htgc:DebtInvestmentsMemberhtgc:ThreatConnectIncMember2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyEightTwoThousandAndTwentyOneMember2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784Equity Investments Electronics & Computer Hardware (0.11%)2022-12-310001280784Debt Investments Consumer & Business Services and Provi, Senior Secured, Maturity Date December 2026, Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-03-310001280784Warrant Investments and Surgical Devices and TransMedics Group, Inc., Warrant, Acquisition Date 9/11/2015, Common Stock2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyThreeNotesMember2023-01-012023-03-310001280784htgc:DrugDeliveryMember2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:September2026NotesMember2021-09-162021-09-160001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784Equity Investments Drug Discovery & Development and Sio Gene Therapies, Inc., Equity, Acquisition Date 2/2/2017, Series Common Stock2023-03-310001280784Debt Investments Communications & Networking and Aryaka Networks, Inc. Senior Secured, Maturity Date July 2026, Prime + 3.25%, Floor rate 6.75%, PIK Interest 1.05%, 3.55% Exit Fee2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784Equity Investments Medical Devices & Equipment and Flowonix Medical Incorporated, Equity, Acquisition Date 11/3/2014, Series Preferred Series AA2022-12-310001280784Debt Investments Drug Discovery & Development and uniQure B.V. Senior Secured, Maturity Date December 2025, Prime + 4.70%, Floor rate 7.95%, 7.28% Exit Fee2022-12-310001280784Warrant Investments and Drug Discovery & Development and Axsome Therapeutics, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2022-12-310001280784us-gaap:SubsequentEventMemberhtgc:BaseAndSupplementalDividendMember2023-04-272023-04-270001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:SeriesAPreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784Warrant Investments and Drug Delivery and PDS Biotechnology Corporation, Warrant, Acquisition Date 8/28/2014, Common Stock2023-03-310001280784htgc:ServiceVestingAwardsMember2023-01-012023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784htgc:SignificantPortfolioInvestmentMember2023-01-012023-03-310001280784Warrant Investments and Medical Devices & Equipment (0.04%)2023-03-310001280784Debt Investments Diversified Financial Services, Gibraltar Business Capital, LLC, Unsecured2022-12-310001280784Debt Investments Drug Discovery & Development and ATAI Life Sciences N.V. Senior Secured, Maturity Date August 2026, Prime + 4.55%, Floor rate 8.55%, 6.95% Exit Fee2023-03-310001280784Warrant Investments and Consumer & Business Products and Whoop, Inc., Warrant, Acquisition Date 6/27/2018, Preferred Series C2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Warrant Investments and Communications & Networking and Spring Mobile Solutions, Inc., Warrant, Acquisition Date 4/19/2013, Common Stock2022-12-310001280784htgc:SBADebenturesIssuedOnOctoberTwentyOneTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784htgc:July2024NotesMember2023-01-012023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-03-310001280784Debt Investments Drug Discovery & Development and Corium, Inc. Senior Secured, Maturity Date September 2026, Prime + 5.70%, Floor rate 8.95%, 7.75% Exit Fee2023-03-310001280784htgc:MUFGBankFacilityMember2023-01-012023-03-310001280784Debt Investments Biotechnology Tools and Alamar Biosciences, Inc. Senior Secured, Maturity Date June 2026, Prime + 3.00%, Floor rate 6.50%, PIK Interest 1.00%, 5.95% Exit Fee2023-03-310001280784htgc:IncludedInCostMember2023-03-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 6/16/2010, Series Preferred Series C2022-12-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date May 2026, Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%2022-12-310001280784htgc:SMBCFacilityMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerMember2022-01-012022-03-310001280784Warrant Investments and Drug Discovery & Development and Albireo Pharma, Inc., Warrant, Acquisition Date 6/8/2020, Common Stock2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784Debt Investments Software and ShadowDragon, LLC, Senior Secured, Maturity Date December 2026, 1-month LIBOR + 8.97%, Floor rate 9.97%2023-03-310001280784Warrant Investments and Drug Discovery & Development and TG Therapeutics, Inc., Warrant, Acquisition Date 2/28/2019, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:RivieraPartnersLLCMember2023-03-310001280784htgc:ManufacturingTechnologyMember2023-03-310001280784htgc:SurgicalDevicesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:DispatchTechnologiesIncMember2023-03-310001280784htgc:SBADebenturesIssuedOnMarchTwentySixTwoThousandAndTwentyOneMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SemiconductorsMember2022-01-012022-12-310001280784htgc:EquityAndWarrantInvestmentsMember2022-01-012022-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SoftwareMember2023-01-012023-03-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-12-310001280784Warrant Investments and Consumer & Business Products and Whoop, Inc., Warrant, Acquisition Date 6/27/2018, Preferred Series C2023-03-310001280784htgc:MarchTwoThousandTwentySixBNotesMember2022-01-012022-03-310001280784Warrant Investments and Consumer & Business Services and SeatGeek, Inc., Warrant, Acquisition Date 6/12/2019, Common Stock2023-03-310001280784Debt Investments Software and Mobile Solutions Services, Senior Secured, Maturity Date December 2025, 3-month LIBOR + 9.06%, Floor rate 10.06%2023-03-310001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 10/31/2022, Series Preferred Series C2022-12-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2023-03-310001280784htgc:SignalMediaLimitedMemberhtgc:DebtInvestmentsMember2022-12-310001280784Warrant Investments and Software and SingleStore, Inc., Warrant, Acquisition Date 4/28/2020, Preferred Series D2023-03-310001280784Debt Investments Drug Discovery & Development and Replimune Group, Inc. Senior Secured, Maturity Date October 2027, Prime + 1.75%, Floor rate 7.25%, Cap rate 9.00%, PIK Interest 1.50%, 4.95% Exit Fee2022-12-310001280784Equity Investments Drug Discovery & Development and Avalo Therapeutics, Inc., Equity, Acquisition Date 8/19/2014, Series Common Stock2023-03-310001280784Warrant Investments and Software and Nuvolo Technologies Corporation, Warrant, Acquisition Date 3/29/2019, Common Stock2022-12-310001280784Debt Investments Diversified Financial Services and Hercules Adviser LLC, Unsecured, Maturity Date June 2025, FIXED 5.00%2023-03-310001280784Equity Investments Software (2.07%)2022-12-310001280784Equity Investments Drug Discovery & Development and Concert Pharmaceuticals, Inc., Equity, Acquisition Date 2/13/2019, Series Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Locus Biosciences, Inc. Senior Secured, Maturity Date July 2025, Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:CA2023-01-012023-03-310001280784Debt Investments Manufacturing Technology and Bright Machines, Inc. Senior Secured, Maturity Date April 2025, Prime + 4.00%, Floor rate 9.50%, 5.00% Exit Fee2023-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:IL2022-01-012022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Debt Investments Drug Discovery & Development and Redshift Bioanalytics, Inc. Senior Secured, Maturity Date January 2026, Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee2023-03-310001280784htgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:TechnologyMember2023-03-310001280784htgc:InvestmentFundsAndVehiclesMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Axsome Therapeutics, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2023-03-310001280784htgc:AdviserSubsidiaryMember2022-01-012022-03-310001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, Maturity Date August 2026, 6-month SOFR + 12.36%, Floor rate 13.11%2023-03-310001280784Warrant Investments and Healthcare Services, Other (0.00%)2022-12-3100012807842021-12-310001280784Debt Investments Software and Catchpoint Systems, Inc., Senior Secured, Maturity Date June 2026, 3-month SOFR + 8.86%, Floor rate 9.76%2023-03-310001280784htgc:SeniorSecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784Equity Investments Surgical Devices, Gynesonics, Inc.2023-03-310001280784Debt Investments Drug Discovery & Development and BridgeBio Pharma, Inc. Senior Secured, Maturity Date November 2026, FIXED 9.00%, 2.00% Exit Fee2022-12-310001280784Equity Investments Medical Devices & Equipment and Flowonix Medical Incorporated, Equity, Acquisition Date 11/3/2014, Series Preferred Series AA2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:PreferredSeriesBBMemberhtgc:TecturaCorporationMember2022-12-310001280784htgc:MUFGBankFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:JulyTwoThousandTwentyFourNotesMember2023-03-310001280784Equity Investments Consumer & Business Services (0.57%)2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtMaturingWithinOneYearMember2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and IngredientWerks Holdings, Inc. (p.k.a Agrivida, Inc.), Warrant, Acquisition Date 6/20/2013, Preferred Series D2023-03-310001280784Debt Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc. Senior Secured, Maturity Date May 2026, Prime + 3.95%, Floor rate 7.45%, 5.35% Exit Fee2022-12-310001280784Warrant Investments and Software and Mixpanel, Inc., Warrant, Acquisition Date 9/30/2020, Common Stock2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784Debt Investments Diversified Financial Services (3.10%)2023-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2021-12-310001280784Warrant Investments and Information Services (0.04%)2022-12-3100012807842023-04-260001280784Warrant Investments and Software and Couchbase, Inc., Warrant, Acquisition Date 4/25/2019, Common Stock2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyTwoThousandAndTwentyOneMember2022-12-310001280784Debt Investments Software and Annex Cloud, Senior Secured, Maturity Date February 2027, 1-month BSBY + 8.99%, Floor rate 9.99%2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberhtgc:MeasurementInputCollateralRecoverabilityMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-03-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:CommonOfferingExpensesMember2022-01-012022-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:DrugDiscoveryAndDevelopmentMember2023-01-012023-03-310001280784us-gaap:CreditConcentrationRiskMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Thumbtack, Inc., Warrant, Acquisition Date 5/1/2018, Common Stock2022-12-310001280784htgc:CapitalInExcessOfParValueMember2022-01-012022-03-310001280784Warrant Investments and Consumer & Business Services and Houzz, Inc., Warrant, Acquisition Date 10/29/2019, Common Stock2023-03-310001280784Warrant Investments and Consumer & Business Services and Udacity, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc. Senior Secured, Maturity Date February 2027, Prime + 5.20%, Floor rate 8.45%, 4.75% Exit Fee2022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:MemberUnitsMember2022-12-310001280784Warrant Investments and Software and Automation Anywhere, Inc., Warrant, Acquisition Date 9/23/2022, Common Stock2022-12-310001280784htgc:AssetBackedNotesMember2022-06-220001280784Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Preferred Series A-22023-03-310001280784us-gaap:EmployeeStockOptionMember2022-01-012022-03-310001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024 One, PIK Interest 5.00%2023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberhtgc:TechnologyMember2023-03-310001280784Warrant Investments and Consumer & Business Products and Savage X Holding, LLC, Warrant, Acquisition Date 6/27/2014, Class A Units2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and IngredientWerks Holdings, Inc. (p.k.a Agrivida, Inc.), Warrant, Acquisition Date 6/20/2013, Preferred Series D2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DK2023-01-012023-03-310001280784Warrant Investments and Software and DroneDeploy, Inc., Warrant, Acquisition Date 6/30/2022, Common Stock2023-03-310001280784Debt Investments Software and LogicSource, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.93%, Floor rate 9.93%2022-12-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001280784htgc:DebtInvestmentsMember2022-12-310001280784htgc:MUFGBankFacilityMember2023-03-310001280784htgc:SBADebenturesIssuedOnJulyTwentyEightTwoThousandAndTwentyOneMember2022-12-310001280784htgc:SMBCFacilityMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-03-310001280784Equity Investments Software, Druva Holdings, Inc.2023-03-310001280784Equity Investments Electronics & Computer Hardware (0.09%)2023-03-310001280784Equity Investments Software (1.66%)2023-03-310001280784Warrant Investments and Consumer & Business Products and Savage X Holding, LLC, Warrant, Acquisition Date 6/27/2014, Class A Units2023-03-310001280784Debt Investments Drug Discovery & Development and Century Therapeutics, Inc. Senior Secured, Maturity Date April 2024, Prime + 6.30%, Floor rate 9.55%, 3.95% Exit Fee2023-03-310001280784Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 1-month SOFR + 7.89%, Floor rate 8.89%2022-12-310001280784us-gaap:SalesRevenueNetMemberus-gaap:UnsecuredDebtMemberhtgc:InvestmentTypeConcentrationRiskMember2022-01-012022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-03-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-03-310001280784Equity Investments Consumer & Business Services and Nerdy Inc., Equity, Acquisition Date 9/17/2021, Series Common Stock2023-03-310001280784htgc:IncludedInCostMember2023-01-012023-03-310001280784htgc:AcceleratedFeeIncomeEarlyRepaymentsMember2023-01-012023-03-310001280784htgc:SBADebenturesIssuedOnMarchTwentySixTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberhtgc:VidaHealthMember2023-03-310001280784Equity Investments Surgical Devices and TransMedics Group, Inc., Equity, Acquisition Date 11/7/2012, Series Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784Warrant Investments and Manufacturing Technology and MacroFab, Inc., Warrant, Acquisition Date 3/23/2022, Common Stock2022-12-310001280784Warrant Investments and Electronics & Computer Hardware (0.07%)2023-03-310001280784Equity Investments Drug Delivery and PDS Biotechnology Corporation, Equity, Acquisition Date 4/6/2015, Series Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:TipaltiSolutionsLtdMember2022-12-310001280784us-gaap:EmployeeStockOptionMember2023-01-012023-03-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:TwoThousandTwentyTwoNotesMember2022-01-012022-03-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date December 2025, Prime + 3.50%, Floor rate 9.00%, 2.98% Exit Fee2023-03-310001280784Debt Investments Drug Discovery & Development (78.49%)2023-03-310001280784Debt Investments Drug Discovery & Development and Kura Oncology, Inc. Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee2023-03-310001280784Debt Investments Software and Ikon Science Limited, Senior Secured, Maturity Date October 2024, 3-month Eurodollar + 9.00%, Floor rate 10.00%2023-03-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 6/16/2010, Series Preferred Series C2023-03-310001280784us-gaap:EmployeeStockOptionMember2023-01-012023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784Debt Investments Software and Enmark Systems, Inc., Senior Secured, Maturity Date September 2026, 3-month LIBOR + 6.77%, Floor rate 7.77%, PIK Interest 2.16%2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Warrant Investments and Consumer & Business Services and Provi, Warrant, Acquisition Date 12/22/2022, Common Stock2023-03-310001280784htgc:MarchTwoThousandTwentySixBNotesMember2023-01-012023-03-310001280784Debt Investments Software and Flight Schedule Pro, LLC, Senior Secured, Maturity Date October 2027, 1-month SOFR + 7.80%, Floor rate 8.70%2023-03-310001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784Equity Investments Consumer & Business Services (0.56%)2023-03-310001280784Warrant Investments and Consumer & Business Services and Modern Life, Inc., Warrant, Acquisition Date 3/30/2022, Common Stock2023-03-310001280784htgc:JuneTwoThousandTwentyFiveNotesMember2022-01-012022-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:MemberUnitsMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:AkeroTherapeuticsIncMember2023-03-310001280784Warrant Investments and Communications & Networking (0.01%)2023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-03-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784Debt Investments Consumer & Business Services, SeatGeek, Inc.2023-03-3100012807842022-01-012022-03-310001280784Equity Investments Drug Discovery & Development and Rocket Pharmaceuticals, Ltd., Equity, Acquisition Date 8/22/2007, Series Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:OtherControlInvestmentsMember2021-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784Equity Investments Drug Discovery & Development and Hibercell, Inc., Equity, Acquisition Date 5/7/2021, Series Preferred Series B2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DK2022-01-012022-12-310001280784Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc. Senior Secured, Maturity Date January 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee2022-12-310001280784Debt Investments Drug Discovery & Development and Phathom Pharmaceuticals, Inc. Senior Secured, Maturity Date October 2026, Prime + 2.25%, Floor rate 5.50%, PIK Interest 3.35%, 7.50% Exit Fee2022-12-310001280784Debt Investments Consumer & Business Services (30.59%)2022-12-310001280784htgc:DividendDeclaredTwoMember2023-01-012023-03-310001280784Equity Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Equity, Acquisition Date 5/9/2022, Series Common Stock2022-12-310001280784Equity Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Equity, Acquisition Date 3/1/2018, Series Common Stock2023-03-310001280784us-gaap:SubsequentEventMemberhtgc:BaseDividendMember2023-05-162023-05-160001280784us-gaap:WarrantMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2023-03-310001280784htgc:SpilloveramountpershareMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:PathaiIncMember2023-03-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2023-01-012023-03-310001280784Debt Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Unsecured, Maturity Date September 2026, FIXED 11.50%2023-03-310001280784htgc:DistributableEarningsLossMember2021-12-310001280784htgc:ThreeMonthSOFRMember2023-03-310001280784htgc:MarchTwoThousandTwentySixANotesMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:TGTherapeuticsIncMember2023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberhtgc:ManufacturingTechnologyMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784htgc:DividendDeclaredOneMember2023-01-012023-03-310001280784Equity Investments Consumer & Business Products and Grove Collaborative, Inc., Equity, Acquisition Date 4/30/2021, Series Common Stock2022-12-310001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, Maturity Date August 2026, 6-month SOFR + 9.53%, Floor rate 10.28%2022-12-310001280784Debt Investments Drug Discovery & Development and TG Therapeutics, Inc. Senior Secured, Maturity Date January 2026, Prime + 2.15%, Floor rate 5.40%, PIK Interest 3.45%, 5.95% Exit Fee2022-12-310001280784Warrant Investments and Software and SignPost, Inc., Warrant, Acquisition Date 1/13/2016, Series Junior 1 Preferred2023-03-310001280784Debt Investments Media/Content/Info (0.66%)2023-03-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784htgc:ConvertibleNoteDiscountsAmortizationMember2022-01-012022-03-310001280784Warrant Investments and Consumer & Business Products and TechStyle, Inc., Warrant, Acquisition Date 7/16/2013, Preferred Series B2022-12-310001280784Warrant Investments and Software and Cloudpay, Inc., Warrant, Acquisition Date 4/10/2018, Preferred Series B2023-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784country:DK2022-12-310001280784htgc:DepreciationMemberus-gaap:FairValueInputsLevel3Memberhtgc:PreferredStockInvestmentMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMember2022-01-012022-03-310001280784htgc:SixMonthLIBORMember2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-03-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-03-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/7/2015, Preferred Series B2023-03-310001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 12/11/2020, Series Preferred Series B2023-03-310001280784htgc:HealthcareServicesOtherMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/22/2014, Preferred Series A2023-03-310001280784htgc:StreamlineHealthcareSolutionsMemberhtgc:DebtInvestmentsMember2023-03-310001280784Equity Investments Consumer & Business Products (0.04%)2022-12-310001280784htgc:SBADebenturesMember2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtTwoMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited2022-12-310001280784Warrant Investments and Communications & Networking and Spring Mobile Solutions, Inc., Warrant, Acquisition Date 4/19/2013, Common Stock2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:OtherControlInvestmentsMember2023-01-012023-03-310001280784Equity Investments Software, Contentful Global, Inc.2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:SixPointTwoFiveNotesDueTwoThousandThirtyThreeMember2023-01-012023-03-310001280784country:NLus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-03-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784Warrant Investments and Drug Discovery & Development and ADMA Biologics, Inc., Warrant, Acquisition Date 2/24/2014, Common Stock2022-12-310001280784Debt Investments Software and Elation Health, Inc., Senior Secured, Maturity Date March 2026, Prime + 4.25%, Floor rate 9.00%, PIK Interest 1.95%, 3.95% Exit Fee2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMember2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMembersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784Warrant Investments and Drug Delivery and BioQ Pharma Incorporated, Warrant, Acquisition Date 10/27/2014, Common Stock2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-01-012023-03-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784htgc:FeverLabsIncMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:CapitalInExcessOfParValueMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:MediaContentInfoMember2022-12-310001280784Debt Investments Consumer & Business Services and Carwow LTD Senior Secured, Maturity Date December 2024, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 4.95% Exit Fee2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:CerosIncorporationMember2023-03-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund I C.V., Investment Funds & Vehicles, Acquisition Date 11/16/20202022-12-310001280784Debt Investments Consumer & Business Services and Udacity, Inc. Senior Secured, Maturity Date September 2024, Prime + 4.50%, Floor rate 7.75%, PIK Interest 2.00%, 3.00% Exit Fee2023-03-310001280784Equity Investments Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Equity, Acquisition Date 9/13/2012, Series Preferred Series C-12022-12-310001280784Debt Investments Information Services (3.71%)2023-03-310001280784Debt Investments Consumer & Business Services and Skyword, Inc. Senior Secured, Maturity Date November 2026, Prime + 2.75%, Floor rate 9.25%, PIK Interest 1.75%, 3.00% Exit Fee2022-12-310001280784htgc:RoyaltyContractMemberhtgc:PhathomPharmaceuticalsIncMember2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt Investments Software and Elation Health, Inc., Senior Secured, Maturity Date March 2026, Prime + 4.25%, Floor rate 9.00%, PIK Interest 1.95%, 3.95% Exit Fee2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:AllAssetsIncludingIntellectualPropertyMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:FebruaryTwoThousandTwentyFiveNotesMember2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784htgc:UnfundedDebtCommitmentsMember2023-01-012023-03-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Kineta, Inc., Warrant, Acquisition Date 12/20/2019, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 4/20/2020, Common Stock2023-03-310001280784htgc:AdviserSubsidiaryMember2022-03-310001280784htgc:DepreciationMemberus-gaap:FairValueInputsLevel3Memberhtgc:PreferredStockInvestmentMember2022-01-012022-03-310001280784Equity Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc., Equity, Acquisition Date 5/5/2022, Series Common Stock2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784htgc:DebtInvestmentsMemberhtgc:ThreatConnectIncMember2023-03-310001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:BabelStreetMember2022-12-310001280784Warrant Investments and Electronics & Computer Hardware and Locus Robotics Corp., Warrant, Acquisition Date 6/21/2022, Common Stock2023-03-310001280784us-gaap:WarrantMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMember2023-03-310001280784Equity Investments Sustainable and Renewable Technology and Modumetal, Inc., Equity, Acquisition Date 6/1/2015, Series Common Stock2023-03-310001280784Debt Investments Consumer & Business Services and Provi, Senior Secured, Maturity Date December 2026, Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessServicesMember2022-01-012022-12-310001280784Warrant Investments and Software and Lightbend, Inc., Warrant, Acquisition Date 2/14/2018, Preferred Series 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Fee2023-03-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 7/14/2015, Series Preferred Series E2023-03-310001280784htgc:DiscountsAmortizationMember2022-01-012022-03-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 11/14/2022, Common 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Gynesonics, Inc., Equity, Acquisition Date 7/14/2015, Series Preferred Series E2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LocusRoboticsCorporationMember2022-12-310001280784Debt Investments Semiconductors and Fungible, Inc. Senior Secured, Maturity Date December 2024, Prime + 5.00%, Floor rate 8.25%, 4.95% Exit Fee2022-12-310001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 8/24/2017, Series Preferred Series 32022-12-310001280784Warrant Investments and Information Services and Capella Space Corp., Warrant, Acquisition Date 10/21/2021, Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:SeriesAPreferredStockMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Warrant, Acquisition Date 5/9/2022, Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:MobileSolutionsServicesMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-03-310001280784htgc:NotesMember2018-09-240001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Debt Investments Consumer & Business Services and Rhino Labs, Inc. Senior Secured, Maturity Date March 2024, Prime + 5.50%, Floor rate 8.75%, PIK Interest 2.25%2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:BiotechnologyToolsMember2022-01-012022-12-310001280784Warrant Investments and Information Services and Signal Media Limited, Warrant, Acquisition Date 6/29/2022, Common Stock2022-12-310001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 10/22/2015, Series Preferred Series 22023-03-310001280784Debt Investments Software and Riviera Partners LLC, Senior Secured, Maturity Date April 2027, 6-month SOFR + 7.53%, Floor rate 8.53%2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:DebtMemberhtgc:AppreciationMember2022-01-012022-03-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyThreeNotesMember2022-01-012022-03-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-01-012022-03-310001280784Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc. 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Senior Secured, Maturity Date March 2026, Prime + 4.35%, Floor rate 7.60%, PIK Interest 1.25%, 4.50% Exit Fee2022-12-310001280784us-gaap:CommonStockMemberhtgc:EquityInvestmentsMember2023-03-310001280784htgc:AdviserFundsMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Scynexis, Inc., Warrant, Acquisition Date 5/14/2021, Common Stock2023-03-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Equity Investments Diversified Financial Services (2.75%)2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ThumbtackIncorporationMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784us-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueOtherMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2023-01-012023-03-310001280784Investments (208.82%)2023-03-310001280784Warrant Investments and Diversified Financial Services (0.01%)2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2023-03-310001280784htgc:JulyTwoThousandTwentyFourNotesMember2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixBNotesMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberhtgc:AlladaptImmunotherapeuticsincMember2023-03-310001280784Warrant Investments and Surgical Devices and TransMedics Group, Inc., Warrant, Acquisition Date 9/11/2015, Common Stock2023-03-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-03-310001280784htgc:CommonStockParValueZeroPointZeroZeroOnePerShareMember2023-01-012023-03-310001280784Equity Investments Consumer & Business Services and DoorDash, Inc., Equity, Acquisition Date 12/20/2018, Series Common Stock2023-03-310001280784Warrant Investments and Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Warrant, Acquisition Date 4/30/2013, Preferred Series C-12022-12-310001280784Equity Investments and Drug Discovery & Development and BridgeBio Pharma, Inc., Equity, Acquisition Date 6/21/2018, Series Common Stock2022-12-310001280784htgc:RecurringFeeIncomeMember2023-01-012023-03-310001280784htgc:SBADebenturesIssuedOnNovemberThirtyTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001280784us-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMember2023-01-012023-03-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-01-012023-03-310001280784htgc:OtherInterestIncomeMember2023-01-012023-03-310001280784Warrant Investments and Drug Discovery & Development and Dermavant Sciences Ltd., Warrant, Acquisition Date 5/31/2019, Common Stock2023-03-310001280784Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/08/2021, Common Stock2023-03-310001280784htgc:SoftwareMember2023-03-310001280784Equity Investments Drug Discovery & Development and BridgeBio Pharma, Inc., Equity, Acquisition Date 6/21/2018, Series Common Stock2023-03-310001280784Equity Investments Consumer & Business Services and Nerdy Inc., Equity, Acquisition Date 9/17/2021, Series Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784us-gaap:SubsequentEventMemberhtgc:BaseDividendMember2023-05-230001280784Debt Investments Consumer & Business Services and Modern Life, Inc. Senior Secured, Maturity Date February 2027, Prime + 2.75%, Floor rate 8.75%, 5.00% Exit Fee2023-03-310001280784htgc:BiotechnologyToolsMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:DividendDeclaredEightMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ProventionBioIncMember2022-12-310001280784Equity Investments Software and Black Crow AI, Inc. affiliates, Equity, Acquisition Date 3/24/2021, Series Preferred Note2022-12-310001280784Equity Investments Consumer & Business Services and Uber Technologies, Inc., Acquisition Date 12/1/2020, Series Common Stock2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:JanuaryTwoThousandTwentySevenNotesMember2023-01-012023-03-310001280784htgc:SBADebenturesIssuedOnJuneTwentyFiveTwoThousandAndTwentyOneMember2023-03-310001280784Equity Investments Drug Delivery and Aytu BioScience, Inc., Equity, Acquisition Date 3/28/2014, Series Common Stock2022-12-310001280784Equity Investments Surgical Devices (0.24%)2023-03-310001280784htgc:CapitalInExcessOfParValueMember2022-03-310001280784htgc:CapitalInExcessOfParValueMember2023-03-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784Equity Investments Consumer & Business Services and Lyft, Inc., Equity, Acquisition Date 12/26/2018, Series Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:SeniorSecuredDebtMember2023-01-012023-03-310001280784Warrant Investments and Surgical Devices and Gynesonics, Inc., Warrant, Acquisition Date 1/16/2013, Preferred Series C2022-12-310001280784Warrant Investments and Medical Devices & Equipment (0.07%)2022-12-310001280784us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:SemiconductorsMember2022-12-310001280784htgc:HealthcareServicesOtherMember2022-12-310001280784Debt Investments Software and Enmark Systems, Inc., Senior Secured, Maturity Date September 2026, 3-month LIBOR + 6.76%, Floor rate 7.76%, PIK Interest 2.15%2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784htgc:DistributableEarningsLossMember2022-03-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:IL2023-01-012023-03-310001280784Debt Investments Software and Convoy, Inc., Senior Secured, Maturity Date March 2026, Prime + 3.20%, Floor rate 6.45%, PIK Interest 1.95%, 4.55% Exit Fee2023-03-310001280784htgc:SMBCFacilityMember2023-03-310001280784Equity Investments Drug Discovery & Development and Applied Molecular Transport, Equity, Acquisition Date 4/6/2021, Series Common Stock2023-03-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMember2022-01-012022-12-310001280784Debt Investments Information 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1/18/2007, Series Preferred Series B2023-03-310001280784country:CA2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:JanuaryTwoThousandTwentySevenNotesMember2023-03-310001280784htgc:SustainableAndRenewableTechnologyMember2022-12-310001280784Debt Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Senior Secured, Maturity Date December 2024, PIK Interest 10.00%2023-03-310001280784htgc:TaxableSubsidiaryMember2022-01-012022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Debt Investments Electronics & Computer Hardware (1.27%)2023-03-310001280784Debt Investments Drug Discovery & Development and G1 Therapeutics, Inc. Senior Secured, Maturity Date November 2026, Prime + 5.90%, Floor rate 9.15%, 9.86% Exit Fee2023-03-310001280784htgc:SBADebenturesIssuedOnNovemberFifteenTwoThousandAndTwentyOneMember2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2021-12-310001280784us-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:DividendDeclaredSixMember2022-01-012022-12-310001280784Warrant Investments and Drug Discovery & Development and Century Therapeutics, Inc., Warrant, Acquisition Date 9/14/2020, Common Stock2022-12-310001280784Debt Investments Healthcare Services, Other and Oak Street Health, Inc. Senior Secured, Maturity Date October 2027, Prime + 2.45%, Floor rate 7.95%, Cap rate 9.45%, PIK Interest 1.00%, 4.95% Exit Fee2022-12-310001280784Equity Investments Consumer & Business Services and Carwow LTD, Equity, Acquisition Date 12/15/2021, Series Preferred Series D-42023-03-310001280784Warrant Investments and Drug Discovery & Development and Myovant Sciences, Ltd., Warrant, Acquisition Date 10/16/2017, Common Stock2022-12-310001280784Debt Investments Software and Dispatch Technologies, Inc., Senior Secured, Maturity Date April 2028, 3-month SOFR + 8.01%, Floor rate 8.76%2022-12-310001280784Warrant Investments and Semiconductors and Fungible, Inc., Warrant, Acquisition Date 12/16/2021, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:BrainCorporationMember2023-03-310001280784Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 1-month SOFR + 8.14%, Floor rate 9.14%2023-03-310001280784Debt Investments Consumer & Business Services and Rhino Labs, Inc. Senior Secured, Maturity Date March 2024, Prime + 5.50%, Floor rate 8.75%, PIK Interest 2.25%2023-03-310001280784Debt Investments Drug Discovery & Development and Kura Oncology, Inc. Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee2022-12-310001280784Investment Funds & Vehicles Investments and Software (0.02%)2023-03-310001280784Equity Investments Drug Discovery & Development (2.66%)2022-12-310001280784htgc:DividendDeclaredOneMember2023-03-092023-03-090001280784htgc:ModernLifeIncMemberhtgc:DebtInvestmentsMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Provention Bio, Inc., Warrant, Acquisition Date 9/15/2022, Common Stock2022-12-310001280784Equity Investments Software and ZeroFox, Inc., Equity, Acquisition Date 5/7/2020, Series Common Stock2022-12-310001280784Warrant Investments and Software and DNAnexus, Inc., Warrant, Acquisition Date 3/21/2014, Preferred Series C2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784htgc:CommonOfferingExpensesMember2023-01-012023-03-310001280784htgc:OtherInterestIncomeMember2022-01-012022-03-310001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784Warrant Investments and Electronics & Computer Hardware (0.09%)2022-12-310001280784Debt Investments Software and Babel Street, Senior Secured, Maturity Date December 2027, 3-month SOFR + 7.89%, Floor rate 8.89%2022-12-310001280784Debt Investments Drug Discovery & Development and Viridian Therapeutics, Inc. Senior Secured, Maturity Date October 2026, Prime + 4.20%, Floor rate 7.45%, Cap rate 8.95%, 6.00% Exit Fee2023-03-310001280784Equity Investments Consumer & Business Products (0.03%)2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ProventionBioIncMember2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Outset Medical, Inc., Warrant, Acquisition Date 9/27/2013, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:NuvoloTechnologiesCorporationMember2023-03-310001280784htgc:MedicalDevicesAndEquipmentMember2023-03-310001280784htgc:LiabilityClassifiedAwardsMember2022-03-310001280784Warrant Investments and Drug Discovery & Development and Tricida, Inc., Warrant, Acquisition Date 3/27/2019, Common Stock2023-03-310001280784Debt Investments Drug Discovery & Development and Provention Bio, Inc. Senior Secured, Maturity Date September 2027, Prime + 2.20%, Floor rate 8.20%, 6.60% Exit Fee2023-03-310001280784Warrant Investments and Drug Discovery & Development and Redshift Bioanalytics, Inc., Warrant, Acquisition Date 3/23/2022, Preferred Series E2022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784us-gaap:SalesRevenueNetMemberus-gaap:PreferredStockMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:EquityInvestmentsMember2022-01-012022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberus-gaap:CommonStockMemberhtgc:EquityInvestmentsMember2022-01-012022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2022-01-012022-03-310001280784Warrant Investments and Consumer & Business Products and Gadget Guard, LLC, Warrant, Acquisition Date 6/3/2014, Common Stock2023-03-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784htgc:PerformanceAwardsMember2023-01-012023-03-310001280784htgc:RoyaltyContractMemberhtgc:PhathomPharmaceuticalsIncMember2023-03-310001280784Debt Investments Software and Streamline Healthcare Solutions, Senior Secured, Maturity Date March 2028, 6-month SOFR + 7.25%, Floor rate 8.25%2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:PhathomPharmaceuticalsIncMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Investment Funds & Vehicles Investments and Software (0.03%)2022-12-310001280784htgc:JulyTwoThousandTwentyFourNotesMember2023-01-012023-03-310001280784Debt Investments Consumer & Business Services, SeatGeek, Inc.2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2023-03-310001280784Equity Investments Drug Discovery & Development and Savara, Inc., Equity, Acquisition Date 8/11/2015, Series Common Stock2022-12-310001280784Warrant Investments and Drug Discovery & Development (0.70%)2023-03-310001280784Debt Investments Biotechnology Tools and PathAI, Inc., Senior Secured, Maturity Date January 2027, Prime + 2.15%, Floor rate 9.15%, 11.21% Exit Fee2022-12-310001280784htgc:HerculesCapitalFourLPMember2020-10-272020-10-270001280784htgc:InvestmentFundsAndVehiclesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ShadowDragonLLCMember2023-03-310001280784htgc:SBADebenturesIssuedOnNovemberOneTwoThousandAndTwentyOneMember2023-03-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessServicesMember2023-01-012023-03-310001280784Warrant Investments and Biotechnology Tools (0.03%)2023-03-310001280784Debt Investments Software and Logicworks, Senior Secured, Maturity Date January 2024, Prime + 7.50%, Floor rate 10.75%2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberus-gaap:CommonStockMember2022-01-012022-03-310001280784us-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt Investments Software and Nuvolo Technologies Corporation, Senior Secured, Maturity Date July 2025, Prime + 5.25%, Floor rate 8.50%, 2.42% Exit Fee2022-12-310001280784htgc:MUFGBankFacilityMemberhtgc:OneMonthSecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-01-012023-03-310001280784us-gaap:PrivateEquityFundsForeignMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt Investments Consumer & Business Services and Skyword, Inc. Senior Secured, Maturity Date November 2026, Prime + 2.75%, Floor rate 9.25%, PIK Interest 1.75%, 3.00% Exit Fee2023-03-310001280784Warrant Investments and Consumer & Business Services and Carwow LTD, Warrant, Acquisition Date 12/14/2021, Common Stock2023-03-310001280784Debt Investments Software and Loftware, Inc., Senior Secured, Maturity Date March 2028, 3-month SOFR + 7.88%, Floor rate 8.88%2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:AtaiLifeSciencesNVMember2023-03-310001280784Equity Investments Software, SingleStore, Inc.2023-03-310001280784us-gaap:CommonStockMember2022-01-012022-03-310001280784htgc:SMBCFacilityMembersrt:MinimumMember2023-01-012023-03-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784Warrant Investments and Consumer & Business Products (0.14%)2023-03-310001280784Equity Investments Medical Devices & Equipment (0.07%)2022-12-310001280784Debt Investments Software and Imperva, Inc., Senior Secured, Maturity Date January 2027, 3-month LIBOR + 7.75%, Floor rate 8.75%2023-03-310001280784htgc:ThreeMonthLIBORMember2022-12-310001280784htgc:DividendDeclaredOneMember2022-03-162022-03-160001280784Warrant Investments and Drug Discovery & Development and AmplifyBio, LLC, Warrant, Acquisition Date 12/27/2022, Class A Units2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784srt:MaximumMemberhtgc:SecuredCreditFacilityWithMUFGBankLtdMUFGMember2023-03-310001280784Equity Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc., Equity, Acquisition Date 5/5/2022, Series Common Stock2022-12-310001280784htgc:SmbcLcFacilityMember2023-01-132023-01-130001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:January2027NotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DividendDeclaredSevenMember2022-11-172022-11-170001280784Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc. Senior Secured, Maturity Date October 2024, Prime + 3.10%, Floor rate 8.60%, 8.90% Exit Fee2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc.2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:G1TherapeuticsIncMember2022-12-310001280784htgc:SMBCFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001280784Equity Investments Software and Palantir Technologies, Equity, Acquisition Date 9/23/2020, Series Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Equity, Acquisition Date 11/26/2019, Series Common Stock2023-03-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date September 2025, Prime + 3.50%, Floor rate 9.00%, 2.67% Exit Fee2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-03-310001280784Equity Investments Consumer & Business Services and Lyft, Inc., Equity, Acquisition Date 12/26/2018, Series Common Stock2023-03-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyThreeTwoThousandAndTwentyOneMember2023-01-012023-03-310001280784Warrant Investments and Drug Discovery & Development and Acacia Pharma Inc., Warrant, Acquisition Date 6/29/2018, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:OakStreetHealthIncMember2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-03-310001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A2023-03-310001280784Debt Investments Consumer & Business Services and Thumbtack, Inc. Senior Secured, Maturity Date April 2026, Prime + 4.95%, Floor rate 8.20%, PIK Interest 1.50%, 3.95% Exit Fee2023-03-310001280784Equity Investments Software and CapLinked, Inc., Equity, Acquisition Date 10/26/2012, Series Preferred Series A-32023-03-310001280784htgc:March2026ANotesMember2023-01-012023-03-310001280784us-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMemberhtgc:MarketComparableCompaniesMember2023-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMemberhtgc:MajorityOwnedControlInvestmentsMember2023-03-310001280784htgc:ConsumerAndBusinessProductsMember2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyThreeTwoThousandAndTwentyOneMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMember2023-03-310001280784us-gaap:SubsequentEventMemberhtgc:BaseDividendMember2023-05-232023-05-230001280784htgc:PerformanceVestingAwardsMember2022-01-012022-03-310001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784Warrant Investments and Consumer & Business Services and Houzz, Inc., Warrant, Acquisition Date 10/29/2019, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 8/1/2018, Preferred Series B2022-12-310001280784Debt Investments Consumer & Business Services, Tectura Corporation2023-03-310001280784Equity Investments Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Equity, Acquisition Date 2/26/2007, Series Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:NextInsuranceIncMember2023-03-310001280784Equity Investments Consumer & Business Services and Oportun, Equity, Acquisition Date 6/28/2013, Series Common Stock2022-12-310001280784Warrant Investments and Diversified Financial Services and Next Insurance, Inc., Warrant, Acquisition Date 2/3/2022, Common Stock2023-03-310001280784Warrant Investments and Media/Content/Info and Fever Labs, Inc., Warrant, Acquisition Date 12/30/2022, Preferred Series E-12023-03-310001280784htgc:SoftwareMember2022-12-310001280784us-gaap:PreferredStockMemberhtgc:EquityInvestmentsMember2023-03-310001280784Debt Investments Drug Discovery & Development and BridgeBio Pharma, Inc. Senior Secured, Maturity Date November 2026, FIXED 9.00%, 2.00% Exit Fee2023-03-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:MarchTwoThousandTwentySixANotesMember2022-12-310001280784Equity Investments Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Equity, Acquisition Date 2/26/2007, Series Common Stock2023-03-310001280784Debt Investments Information Services (3.72%)2022-12-310001280784Warrant Investments and Manufacturing Technology (0.21%)2023-03-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Debt Investments Drug Discovery & Development and Gritstone Bio, Inc. Senior Secured, Maturity Date July 2027, Prime + 3.15%, Floor rate 7.15%, Cap rate 8.65%, PIK Interest 2.00%, 5.75% Exit Fee2022-12-310001280784htgc:MUFGBankFacilityMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-03-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 8/1/2018, Preferred Series B2023-03-310001280784htgc:JuneTwoThousandTwentyFiveNotesMember2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2023-03-310001280784Warrant Investments and Semiconductors (0.04%)2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Equity Investments Software and CapLinked, Inc., Equity, Acquisition Date 10/26/2012, Series Preferred Series A-32022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-03-310001280784Debt Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc. Senior Secured, Maturity Date July 2024, Prime + 3.75%, Floor rate 8.75%, 8.80% Exit Fee2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc.2022-12-310001280784Equity Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Equity, Acquisition Date 5/9/2022, Series Common Stock2023-03-310001280784Warrant Investments and Information Services and Signal Media Limited, Warrant, Acquisition Date 6/29/2022, Common Stock2023-03-310001280784htgc:DividendDeclaredFourMember2022-05-242022-05-240001280784Warrant Investments and Software and Elation Health, Inc., Warrant, Acquisition Date 9/12/2022, Common Stock2023-03-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Equity Investments Drug Discovery & Development and Akero Therapeutics, Inc., Equity, Acquisition Date 9/19/2022, Series Common Stock2022-12-310001280784us-gaap:FairValueInputsLevel2Memberhtgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784Warrant Investments and Software and Tact.ai Technologies, Inc., Warrant, Acquisition Date 2/13/2020, Common Stock2023-03-310001280784htgc:AnnexCloudMemberhtgc:DebtInvestmentsMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:ReplimuneGroupIncMember2023-03-310001280784country:NL2023-03-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 11/14/2022, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Skyword, Inc.2023-03-310001280784htgc:MarchTwoThousandTwentySixANotesMember2022-12-310001280784htgc:NotesMember2023-01-012023-03-310001280784Warrant Investments and Software and CloudBolt Software, Inc., Warrant, Acquisition Date 9/30/2020, Common Stock2023-03-310001280784Warrant Investments and Drug Discovery & Development and Kura Oncology, Inc., Warrant, Acquisition Date 11/2/2022, Common Stock2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Equity Investments Information Services and Yipit, LLC, Equity, Acquisition Date 12/30/2021, Series Preferred Series E2022-12-310001280784Warrant Investments and Media/Content/Info (0.00%)2023-03-310001280784htgc:MUFGBankFacilityMember2023-03-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 4/20/2020, Common Stock2022-12-310001280784Warrant Investments and Surgical Devices (0.04%)2023-03-310001280784us-gaap:WarrantMemberhtgc:ValuationTechniqueOtherMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:SBADebenturesIssuedOnJanuaryTwentyOneTwoThousandAndTwentyTwoMember2023-03-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Equity Investments Drug Discovery & Development and Gritstone Bio, Inc., Equity, Acquisition Date 10/26/2022, Series Common Stock2023-03-310001280784htgc:SBADebenturesIssuedOnJanuaryTwentyOneTwoThousandAndTwentyTwoMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:LiabilityClassifiedAwardsMember2023-03-310001280784Warrant Investments and Drug Discovery & Development and Kineta, Inc., Warrant, Acquisition Date 12/20/2019, Common Stock2023-03-310001280784Debt Investments Software and Tipalti Solutions Ltd., Senior Secured, Maturity Date April 2027, Prime + 0.45%, Floor rate 7.95%, PIK Interest 2.00%, 3.75% Exit Fee2023-03-310001280784Debt Investments Consumer & Business Services and Veem, Inc. Senior Secured, Maturity Date March 2025, Prime + 4.00%, Floor rate 7.25%, PIK Interest 1.25%, 4.50% Exit Fee2022-12-310001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-03-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-03-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc.2023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMemberhtgc:AffiliateInvestmentsMember2022-03-310001280784htgc:ThreeMonthLIBORMember2023-03-310001280784htgc:HerculesCapitalFourLPMember2022-01-012022-12-310001280784us-gaap:RevolvingCreditFacilityMember2023-01-012023-03-310001280784Warrant Investments and Biotechnology Tools (0.03%)2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:SeniorSecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:SeptemberTwoThousandTwentySixNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-03-310001280784Warrant Investments and Drug Discovery & Development and Akero Therapeutics, Inc., Warrant, Acquisition Date 6/15/2022, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LocusRoboticsCorporationMember2023-03-310001280784htgc:SMBCFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:FortifiedHealthSecurityMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ReplimuneGroupIncMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:KuraOncologyIncMember2022-12-310001280784Equity Investments Consumer & Business Services and Rhino Labs, Inc., Equity, Acquisition Date 1/24/2022, Series Preferred Series B-22022-12-310001280784htgc:MarchTwoThousandTwentySixANotesMember2023-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001280784htgc:AcceleratedFeeIncomeExpiredCommitmentsMember2022-01-012022-03-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:SeriesAPreferredStockMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784Warrant Investments and Surgical Devices (0.04%)2022-12-310001280784Equity Investments Information Services and Planet Labs, Inc., Equity, Acquisition Date 6/21/2019, Series Common Stock2023-03-310001280784Warrant Investments and Information Services and NetBase Solutions, Inc., Warrant, Acquisition Date 8/22/2017, Preferred Series 12022-12-310001280784Debt Investments Drug Discovery & Development and Iveric Bio, Inc. Senior Secured, Maturity Date August 2027, Prime + 4.00%, Floor rate 8.75%, Cap rate 10.25%, 4.25% Exit Fee2022-12-310001280784Equity Investments Software and 3GTMS, LLC, Equity, Acquisition Date 8/9/2021, Series Common Stock2023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784htgc:SeniorSecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-12-310001280784Debt Investments Drug Discovery & Development and Hibercell, Inc. Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee2022-12-310001280784Debt Investments Communications & Networking and Rocket Lab Global Services, LLC Senior Secured, Maturity Date June 2024, Prime + 4.90%, Floor rate 8.15%, PIK Interest 1.25%, 3.25% Exit Fee2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:CapitalInExcessOfParValueMember2022-12-310001280784Debt Investments Drug Discovery & Development (78.59%)2022-12-310001280784Equity Investments Consumer & Business Services and Carwow LTD, Equity, Acquisition Date 12/15/2021, Series Preferred Series D-42022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel1Member2023-03-310001280784htgc:OneMonthLIBORMember2022-12-310001280784Debt Investments Software and Esentire, Inc., Senior Secured, Maturity Date May 2024, 3-month LIBOR + 9.96%, Floor rate 10.96%2022-12-310001280784htgc:MUFGBankFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Investments in Securities (211.21%)2022-12-310001280784Debt Investments Drug Discovery & Development and enGene, Inc. 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Convertible Debt, Maturity Date May 2028, PIK Interest 5.50%2023-03-310001280784htgc:CybermaxxIntermediateHoldingsIncorporationMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:ControlInvestmentsMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2022-03-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:UnsecuredDebtOneMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784country:GB2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMemberhtgc:MajorityOwnedControlInvestmentsMember2021-12-310001280784Debt Investments Consumer & Business Services, Tectura Corporation2022-12-310001280784Equity Investments Consumer & Business Products and TFG Holding, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2023-03-310001280784htgc:ControlInvestmentsMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerNoncontrolledMember2022-03-310001280784Debt Investments Software and Nextroll, Inc., Senior Secured, Maturity Date July 2023, Prime + 3.75%, Floor rate 7.75%, PIK Interest 2.95%, 1.95% Exit Fee2023-03-310001280784Debt Investments Software and VideoAmp, Inc., Senior Secured, Maturity Date February 2025, Prime + 3.70%, Floor rate 6.95%, PIK Interest 1.25%, 5.25% Exit Fee2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:DashlaneIncorporationMember2023-03-310001280784htgc:KhorosPKLithiumTechnologiesMemberhtgc:DebtInvestmentsMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:PreferredStockMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-01-012022-03-310001280784Warrant Investments and Drug Discovery & Development (0.60%)2022-12-310001280784htgc:ForbionGrowthOpportunitiesFundICVMemberhtgc:InvestmentFundsAndVehiclesMember2023-03-310001280784Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc. Senior Secured, Maturity Date November 2026, 1-month LIBOR + 5.00%, Floor rate 6.00%, PIK Interest 4.45%2023-03-310001280784Warrant Investments and Consumer & Business Products and Gadget Guard, LLC, Warrant, Acquisition Date 6/3/2014, Common Stock2022-12-310001280784Warrant Investments and Software and Tipalti Solutions Ltd., Warrant, Acquisition Date 3/22/2023, Ordinary Shares2023-03-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001280784Warrant Investments and Medical Devices & Equipment and Aspire Bariatrics, Inc., Warrant, Acquisition Date 1/28/2015, Common Stock2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-03-310001280784htgc:TwoThousandThirtyThreeNotesMember2023-01-012023-03-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:SeniorSecuredDebtMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784htgc:SMBCFacilityMember2023-03-310001280784Warrant Investments and Software and Brain Corporation, Warrant, Acquisition Date 10/4/2021, Common Stock2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:FlightScheduleProLlcMember2023-03-310001280784us-gaap-supplement:InvestmentUnaffiliatedIssuerMember2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:DronedeployIncorporationMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-03-310001280784htgc:DebtInvestmentsMemberhtgc:IkonScienceLimitedMember2023-03-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-03-310001280784Debt Investments Biotechnology Tools and Alamar Biosciences, Inc. Senior Secured, Maturity Date June 2026, Prime + 3.00%, Floor rate 6.50%, PIK Interest 1.00%, 5.95% Exit Fee2022-12-310001280784htgc:IncludedInCostMember2022-01-012022-12-310001280784Debt Investments Software and Omeda Holdings, LLC, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.05%, Floor rate 9.05%2022-12-310001280784Debt Investments Software and Automation Anywhere, Inc. Senior Secured, Maturity Date September 2027, Prime + 4.25%, Floor rate 9.00%, 2.50% Exit Fee2022-12-310001280784htgc:OakStreetHealthIncMemberhtgc:DebtInvestmentsMember2023-03-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyEightTwoThousandAndTwentyOneMember2023-03-310001280784Debt Investments Communications & Networking and Cytracom Holdings LLC Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.72%, Floor rate 10.62%2023-03-310001280784Debt Investments Software and Brain Corporation, Senior Secured, Maturity Date April 2025, PRIME + 3.70%, Floor rate 6.95%, PIK Interest 1.00%, 3.95% Exit Fee2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Equity Investments Surgical Devices (0.18%)2022-12-310001280784us-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberhtgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-03-310001280784htgc:DebtInvestmentsMemberhtgc:MadrigalPharmaceuticalIncMember2022-12-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date September 2026, Prime + 3.50%, Floor rate 9.00%, 3.67% Exit Fee2023-03-310001280784Debt Investments Consumer & Business Services and Jobandtalent USA, Inc. Senior Secured, Maturity Date February 2025, 1-month SOFR + 8.86%, Floor rate 9.75%, 3.00% Exit Fee2022-12-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:UnsecuredDebtMemberhtgc:GibraltarBusinessCapitalLLCMemberhtgc:MajorityOwnedControlInvestmentsMember2022-01-012022-12-310001280784htgc:SMBCFacilityMember2023-03-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap-supplement:InvestmentAffiliatedIssuerControlledMemberus-gaap:CommonStockMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SurgicalDevicesMember2023-01-012023-03-310001280784Warrant Investments and Software and Dashlane, Inc., Warrant, Acquisition Date 3/11/2019, Common Stock2022-12-310001280784htgc:MUFGBankFacilityMember2023-03-310001280784Equity Investments Consumer & Business Services and Reischling Press, Inc., Acquisition Date 7/31/2020, Series Common Stock2022-12-310001280784htgc:DebtInvestmentsMember2023-03-310001280784Warrant Investments and Consumer & Business Products and TechStyle, Inc., Warrant, Acquisition Date 7/16/2013, Preferred Series B2023-03-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Veem, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2022-12-310001280784Debt Investments Biotechnology Tools (2.31%)2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MediaContentInfoMember2023-01-012023-03-310001280784htgc:DistributableEarningsLossMember2023-01-012023-03-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-3100012807842023-01-012023-03-310001280784Debt Investments Consumer & Business Services and AppDirect, Inc. Senior Secured, Maturity Date April 2026, Prime + 5.50%, Floor rate 8.75%, 8.29% Exit Fee2023-03-31xbrli:pureiso4217:USDxbrli:sharesxbrli:sharesiso4217:GBPiso4217:USDhtgc:Firm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For The Quarterly Period Ended March 31, 2023

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 814-00702

HERCULES CAPITAL, INC.

(Exact Name of Registrant as Specified in its Charter)

Maryland

74-3113410

(State or Jurisdiction of

Incorporation or Organization)

(IRS Employer

 Identification Number)

400 Hamilton Ave., Suite 310

Palo Alto, California

(Address of Principal Executive Offices)

94301

(Zip Code)

(650) 289-3060

(Registrant’s Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, par value $0.001 per share

HTGC

New York Stock Exchange

6.25% Notes due 2033

HCXY

New York Stock Exchange

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No

On April 26, 2023, there were 142,427,079 shares outstanding of the Registrant’s common stock, $0.001 par value.

 


HERCULES CAPITAL, INC.

FORM 10-Q TABLE OF CONTENTS

 

PART I. FINANCIAL INFORMATION

3

Item 1.

Consolidated Financial Statements

3

Consolidated Statements of Assets and Liabilities as of March 31, 2023 (unaudited) and December 31, 2022

3

Consolidated Statements of Operations for the three months ended March 31, 2023 and 2022 (unaudited)

4

Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2023 and 2022 (unaudited)

5

Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 2022 (unaudited)

6

Consolidated Schedule of Investments as of March 31, 2023 (unaudited)

7

Consolidated Schedule of Investments as of December 31, 2022

18

 

Notes to Consolidated Financial Statements (unaudited)

29

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

60

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

74

Item 4.

Controls and Procedures

75

PART II. OTHER INFORMATION

76

Item 1.

Legal Proceedings

76

Item 1A.

Risk Factors

 

76

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

78

Item 3.

Defaults Upon Senior Securities

78

Item 4.

Mine Safety Disclosures

78

Item 5.

Other Information

78

Item 6.

Exhibits and Financial Statement Schedules

79

SIGNATURES

84

 

 

 

 


PART I: FINANCIAL INFORMATION

In this Quarterly Report, the “Company,” “Hercules,” “we,” “us” and “our” refer to Hercules Capital, Inc., its wholly owned subsidiaries, and its affiliated securitization trust unless the context otherwise requires.

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

HERCULES CAPITAL, INC.

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except per share data)

 

March 31, 2023

 

 

December 31, 2022

 

 

 

(unaudited)

 

 

 

 

Assets

 

 

 

 

 

 

Investments, at fair value:

 

 

 

 

 

 

Non-control/Non-affiliate investments (cost of $3,063,553 and $2,918,425, respectively)

 

$

3,044,852

 

 

$

2,887,497

 

Control investments (cost of $87,293 and $87,271, respectively)

 

 

85,326

 

 

 

76,458

 

 Total investments, at fair value (cost of $3,150,846 and $3,005,696, respectively; fair value amounts related to a VIE $258,876 and $236,585, respectively)

 

 

3,130,178

 

 

 

2,963,955

 

Cash and cash equivalents

 

 

71,129

 

 

 

15,797

 

Restricted cash (amounts related to a VIE $7,819 and $10,079, respectively)

 

 

7,819

 

 

 

10,079

 

Interest receivable

 

 

31,485

 

 

 

31,682

 

Right of use asset

 

 

4,350

 

 

 

4,986

 

Other assets

 

 

6,858

 

 

 

2,356

 

Total assets

 

$

3,251,819

 

 

$

3,028,855

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Debt (net of debt issuance costs - Note 5; amounts related to a VIE $148,104 and $147,957, respectively)

 

$

1,714,479

 

 

$

1,574,351

 

Accounts payable and accrued liabilities

 

 

33,368

 

 

 

47,539

 

Operating lease liability

 

 

4,966

 

 

 

5,506

 

Total liabilities

 

$

1,752,813

 

 

$

1,627,396

 

 

 

 

 

 

 

Net assets consist of:

 

 

 

 

 

 

Common stock, par value

 

$

139

 

 

$

134

 

Capital in excess of par value

 

 

1,409,168

 

 

 

1,341,416

 

Total distributable earnings

 

 

89,699

 

 

 

59,909

 

Total net assets

 

$

1,499,006

 

 

$

1,401,459

 

Total liabilities and net assets

 

$

3,251,819

 

 

$

3,028,855

 

 

 

 

 

 

 

 

Shares of common stock outstanding ($0.001 par value and 200,000 authorized)

 

 

138,596

 

 

 

133,045

 

Net asset value per share

 

$

10.82

 

 

$

10.53

 

 

See notes to consolidated financial statements

3


HERCULES CAPITAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands, except per share data)

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

Investment income:

 

 

 

 

 

 

Interest and dividend income:

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

$

98,781

 

 

$

60,090

 

Control investments

 

 

1,116

 

 

 

1,115

 

Affiliate investments

 

 

 

 

 

1,047

 

Total interest and dividend income

 

 

99,897

 

 

 

62,252

 

Fee income:

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

5,174

 

 

 

2,889

 

Control investments

 

 

19

 

 

 

16

 

Total fee income

 

 

5,193

 

 

 

2,905

 

Total investment income

 

 

105,090

 

 

 

65,157

 

Operating expenses:

 

 

 

 

 

 

Interest

 

 

16,625

 

 

 

11,647

 

Loan fees

 

 

2,329

 

 

 

1,842

 

General and administrative

 

 

4,126

 

 

 

3,818

 

Tax expenses

 

 

1,387

 

 

 

712

 

Employee compensation:

 

 

 

 

 

 

Compensation and benefits

 

 

14,617

 

 

 

8,329

 

Stock-based compensation

 

 

3,186

 

 

 

4,424

 

Total employee compensation

 

 

17,803

 

 

 

12,753

 

Total gross operating expenses

 

 

42,270

 

 

 

30,772

 

Expenses allocated to the Adviser Subsidiary

 

 

(2,679

)

 

 

(1,402

)

Total net operating expenses

 

 

39,591

 

 

 

29,370

 

Net investment income

 

 

65,499

 

 

 

35,787

 

Net realized gain (loss) and net change in unrealized appreciation (depreciation):

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

7,960

 

 

 

(2,467

)

Affiliate investments

 

 

 

 

 

3,772

 

Loss on extinguishment of debt

 

 

 

 

 

(3,686

)

Total net realized gain (loss)

 

 

7,960

 

 

 

(2,381

)

Net change in unrealized appreciation (depreciation):

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

12,259

 

 

 

(38,949

)

Control investments

 

 

8,846

 

 

 

1,454

 

Affiliate investments

 

 

 

 

 

753

 

Total net change in unrealized appreciation (depreciation)

 

 

21,105

 

 

 

(36,742

)

Total net realized gain (loss) and net change in unrealized appreciation (depreciation)

 

 

29,065

 

 

 

(39,123

)

Net increase (decrease) in net assets resulting from operations

 

$

94,564

 

 

$

(3,336

)

 

 

 

 

 

 

Net investment income before gains and losses per common share:

 

Basic

 

$

0.48

 

 

$

0.30

 

Change in net assets resulting from operations per common share:

 

 

 

 

 

 

Basic

 

$

0.69

 

 

$

(0.03

)

Diluted

 

$

0.68

 

 

$

(0.03

)

Weighted average shares outstanding:

 

 

 

 

 

 

Basic

 

 

135,252

 

 

 

118,296

 

Diluted

 

 

137,056

 

 

 

118,296

 

Distributions paid per common share:

 

 

 

 

 

 

Basic

 

$

0.47

 

 

$

0.48

 

 

 

See notes to consolidated financial statements

4


HERCULES CAPITAL, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(unaudited)

(amounts in thousands)

 

 

 

 

 

 

Capital in

 

 

Distributable

 

 

 

 

 

Common Stock

 

 

excess

 

 

Earnings

 

 

Net

 

For the Three Months Ended March 31, 2023

Shares

 

 

Par Value

 

 

of par value

 

 

(loss)

 

 

Assets

 

Balance as of December 31, 2022

 

133,045

 

 

$

134

 

 

$

1,341,416

 

 

$

59,909

 

 

$

1,401,459

 

Net increase (decrease) in net assets resulting from operations

 

 

 

 

 

 

 

 

 

 

94,564

 

 

 

94,564

 

Public offering, net of offering expenses

 

4,659

 

 

 

4

 

 

 

65,338

 

 

 

 

 

 

65,342

 

Issuance of common stock due to stock option exercises

 

10

 

 

 

 

 

 

139

 

 

 

 

 

 

139

 

Retired shares from net issuance of stock options exercises

 

(1

)

 

 

 

 

 

(15

)

 

 

 

 

 

(15

)

Issuance of common stock under restricted stock plan

 

937

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

Retired shares for restricted stock vesting

 

(115

)

 

 

 

 

 

(1,502

)

 

 

 

 

 

(1,502

)

Distributions reinvested in common stock

 

61

 

 

 

 

 

 

940

 

 

 

 

 

 

940

 

Distributions

 

 

 

 

 

 

 

 

 

 

(64,774

)

 

 

(64,774

)

Stock-based compensation (1)

 

 

 

 

 

 

 

2,853

 

 

 

 

 

 

2,853

 

Balance as of March 31, 2023

 

138,596

 

 

$

139

 

 

$

1,409,168

 

 

$

89,699

 

 

$

1,499,006

 

(1)
Stock-based compensation includes $20 thousand of restricted stock and option expense related to director compensation for the three months ended March 31, 2023.

(amounts in thousands)

 

 

 

 

 

 

 

Capital in

 

 

Distributable

 

 

 

 

 

 

Common Stock

 

 

excess

 

 

Earnings

 

 

Net

 

For the Three Months Ended March 31, 2022

 

Shares

 

 

Par Value

 

 

of par value

 

 

(loss)

 

 

Assets

 

Balance as of December 31, 2021

 

 

116,619

 

 

$

117

 

 

$

1,091,907

 

 

$

216,523

 

 

$

1,308,547

 

Net increase (decrease) in net assets resulting from operations

 

 

 

 

 

 

 

 

 

 

 

(3,336

)

 

 

(3,336

)

Public offering, net of offering expenses

 

 

4,860

 

 

 

5

 

 

 

85,244

 

 

 

 

 

 

85,249

 

Issuance of common stock due to stock option exercises

 

 

37

 

 

 

 

 

 

454

 

 

 

 

 

 

454

 

Retired shares from net issuance of stock options exercises

 

 

(2

)

 

 

 

 

 

(32

)

 

 

 

 

 

(32

)

Issuance of common stock under restricted stock plan

 

 

765

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

Retired shares for restricted stock vesting

 

 

(126

)

 

 

 

 

 

(3,694

)

 

 

 

 

 

(3,694

)

Distributions reinvested in common stock

 

 

60

 

 

 

 

 

 

1,025

 

 

 

 

 

 

1,025

 

Issuance of common stock from conversion of 2022 Convertible Notes

 

 

981

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

Distributions

 

 

 

 

 

 

 

 

 

 

 

(57,882

)

 

 

(57,882

)

Stock-based compensation (1)

 

 

 

 

 

 

 

 

3,117

 

 

 

 

 

 

3,117

 

Balance as of March 31, 2022

 

 

123,194

 

 

$

124

 

 

$

1,178,019

 

 

$

155,305

 

 

$

1,333,448

 

(1)
Stock-based compensation includes $40 thousand of restricted stock and option expense related to director compensation for the three months ended March 31, 2022.

See notes to consolidated financial statements

5


HERCULES CAPITAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands)

For the Three Months Ended March 31,

 

 

2023

 

 

2022

 

Cash flows provided by (used in) operating activities:

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

$

94,564

 

 

$

(3,336

)

Adjustments to reconcile net increase in net assets resulting from
operations to net cash provided by (used in) operating activities:

 

 

 

Purchases of investments

 

(476,162

)

 

 

(351,601

)

Fundings assigned to Adviser Funds

 

120,846

 

 

 

61,081

 

Principal and fee repayments received on debt investments

 

207,466

 

 

 

96,311

 

Proceeds from the sale of equity investments

 

14,972

 

 

 

8,816

 

Net change in unrealized (appreciation) depreciation

 

(21,105

)

 

 

36,742

 

Net realized (gain) loss

 

(7,960

)

 

 

(1,305

)

Accretion of paid-in-kind principal

 

(5,528

)

 

 

(4,976

)

Accretion of loan discounts

 

(1,636

)

 

 

(972

)

Accretion of loan discount on convertible notes

 

 

 

 

112

 

Accretion of loan exit fees

 

(5,924

)

 

 

(5,709

)

Change in loan income, net of collections

 

5,995

 

 

 

3,535

 

Unearned fees related to unfunded commitments

 

(110

)

 

 

1,037

 

Realized loss on extinguishment of debt

 

 

 

 

3,686

 

Amortization of debt fees and issuance costs

 

1,723

 

 

 

1,371

 

Depreciation and amortization

 

44

 

 

 

54

 

Stock-based compensation and amortization of restricted stock grants (1)

 

2,853

 

 

 

3,117

 

Change in operating assets and liabilities:

 

 

 

 

Interest receivable

 

201

 

 

 

(2,289

)

Other assets

 

3,565

 

 

 

(13,229

)

Accrued liabilities

 

(14,678

)

 

 

(21,067

)

Net cash provided by (used in) operating activities

 

(80,874

)

 

 

(188,622

)

 

 

 

 

 

Cash flows provided by (used in) investing activities:

 

 

 

Purchases of capital equipment

 

(94

)

 

 

(50

)

Net cash provided by (used in) investing activities

 

(94

)

 

 

(50

)

 

 

 

 

 

Cash flows provided by (used in) financing activities:

 

 

 

Issuance of common stock

 

66,172

 

 

 

86,184

 

Offering expenses

 

(830

)

 

 

(935

)

Retirement of employee shares, net

 

(1,378

)

 

 

(3,272

)

Distributions paid

 

(63,834

)

 

 

(56,857

)

Issuance of debt

 

225,000

 

 

 

535,500

 

Repayment of debt

 

(86,000

)

 

 

(441,000

)

Debt issuance costs

 

 

 

 

(4,140

)

Fees paid for credit facilities and debentures

 

(5,090

)

 

 

(616

)

Net cash provided by (used in) financing activities

 

134,040

 

 

 

114,864

 

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

53,072

 

 

 

(73,808

)

Cash, cash equivalents, and restricted cash at beginning of period

 

25,876

 

 

 

136,265

 

Cash, cash equivalents, and restricted cash at end of period

$

78,948

 

 

$

62,457

 

 

 

 

 

 

Supplemental disclosures of cash flow information and non-cash investing and financing activities:

 

Interest paid

$

23,840

 

 

$

19,010

 

Income tax, including excise tax, paid

$

4,763

 

 

$

7,119

 

Distributions reinvested

$

940

 

 

$

1,025

 

(1)
Stock-based compensation includes $20 thousand and $40 thousand of restricted stock and option expense related to director compensation for the three months ended March 31, 2023 and 2022, respectively.

The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statements of Assets and Liabilities that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows:

(in thousands)

For the Three Months Ended March 31,

 

 

2023

 

 

2022

 

Cash and cash equivalents

$

71,129

 

 

$

59,330

 

Restricted cash

 

7,819

 

 

 

3,127

 

Total cash, cash equivalents, and restricted cash presented in the Consolidated Statements of Cash Flows

$

78,948

 

 

$

62,457

 

See “Note 2 – Summary of Significant Accounting Policies” for a description of cash, cash equivalents, and restricted cash.

See notes to consolidated financial statements

6


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Debt Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

Alamar Biosciences, Inc.

 

Senior Secured

 

June 2026

 

Prime + 3.00%, Floor rate 6.50%, PIK Interest 1.00%, 5.95% Exit Fee

 

$

5,011

 

 

$

4,987

 

 

$

4,987

 

 

(13)(14)(17)

PathAI, Inc.

 

Senior Secured

 

January 2027

 

Prime + 2.15%, Floor rate 9.15%, 11.21% Exit Fee

 

$

28,000

 

 

 

27,540

 

 

 

27,540

 

 

(17)

Subtotal: Biotechnology Tools (2.17%)*

 

 

 

 

 

 

 

32,527

 

 

 

32,527

 

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

Aryaka Networks, Inc.

 

Senior Secured

 

July 2026

 

Prime + 3.25%, Floor rate 6.75%, PIK Interest 1.05%, 3.55% Exit Fee

 

$

15,036

 

 

 

14,842

 

 

 

15,377

 

 

(14)(17)(19)

Cytracom Holdings LLC

 

Senior Secured

 

February 2025

 

3-month SOFR + 9.72%, Floor rate 10.62%

 

$

3,292

 

 

 

3,247

 

 

 

3,256

 

 

(11)(17)(18)

Rocket Lab Global Services, LLC

 

Senior Secured

 

June 2024

 

Prime + 4.90%, Floor rate 8.15%, PIK Interest 1.25%, 3.25% Exit Fee

 

$

84,846

 

 

 

85,982

 

 

 

88,450

 

 

(11)(12)(13)(14)(16)

Subtotal: Communications & Networking (7.14%)*

 

 

 

 

 

 

 

104,071

 

 

 

107,083

 

 

 

Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

AppDirect, Inc.

 

Senior Secured

 

April 2026

 

Prime + 5.50%, Floor rate 8.75%, 8.29% Exit Fee

 

$

40,790

 

 

 

42,034

 

 

 

42,902

 

 

(12)(17)

Carwow LTD

 

Senior Secured

 

December 2024

 

Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 4.95% Exit Fee

 

£

19,166

 

 

 

26,212

 

 

 

23,888

 

 

(5)(10)(14)(17)

Collective Health, Inc.

 

Senior Secured

 

September 2023

 

Prime + 4.75%, Floor rate 12.50%

 

$

4,000

 

 

 

3,964

 

 

 

3,964

 

 

 

Houzz, Inc.

 

Convertible Debt

 

May 2028

 

PIK Interest 5.50%

 

$

22,154

 

 

 

22,154

 

 

 

21,536

 

 

(9)(14)

Jobandtalent USA, Inc.

 

Senior Secured

 

February 2025

 

1-month SOFR + 8.86%, Floor rate 9.75%, 3.00% Exit Fee

 

$

14,000

 

 

 

13,910

 

 

 

14,002

 

 

(5)(10)

Modern Life, Inc.

 

Senior Secured

 

February 2027

 

Prime + 2.75%, Floor rate 8.75%, 5.00% Exit Fee

 

$

17,000

 

 

 

16,617

 

 

 

16,617

 

 

(17)

Provi

 

Senior Secured

 

December 2026

 

Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee

 

$

15,000

 

 

 

14,778

 

 

 

14,778

 

 

(15)

Rhino Labs, Inc.

 

Senior Secured

 

March 2024

 

Prime + 5.50%, Floor rate 8.75%, PIK Interest 2.25%

 

$

16,593

 

 

 

16,475

 

 

 

16,475

 

 

(14)(15)

RVShare, LLC

 

Senior Secured

 

December 2026

 

3-month LIBOR + 5.50%, Floor rate 6.50%, PIK Interest 4.00%

 

$

28,009

 

 

 

27,576

 

 

 

27,657

 

 

(13)(14)(15)(17)

SeatGeek, Inc.

 

Senior Secured

 

June 2023

 

Prime + 5.00%, Floor rate 10.50%, PIK Interest 0.50%

 

$

60,992

 

 

 

60,911

 

 

 

61,072

 

 

(12)(13)(14)(16)

 

Senior Secured

 

May 2026

 

Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%

 

$

25,103

 

 

 

24,954

 

 

 

25,885

 

 

(11)(14)(16)

Total SeatGeek, Inc.

 

 

 

 

 

 

 

$

86,095

 

 

 

85,865

 

 

 

86,957

 

 

 

Skyword, Inc.

 

Senior Secured

 

November 2026

 

Prime + 2.75%, Floor rate 9.25%, PIK Interest 1.75%, 3.00% Exit Fee

 

$

9,047

 

 

 

8,984

 

 

 

9,002

 

 

(13)(14)

Tectura Corporation

 

Senior Secured

 

July 2024

 

PIK Interest 5.00%

 

$

23,703

 

 

 

13,263

 

 

 

 

 

(7)(8)(14)

 

Senior Secured

 

July 2024

 

FIXED 8.25%

 

$

8,250

 

 

 

8,250

 

 

 

7,774

 

 

(7)

Total Tectura Corporation

 

 

 

 

 

 

 

$

31,953

 

 

 

21,513

 

 

 

7,774

 

 

 

Thumbtack, Inc.

 

Senior Secured

 

April 2026

 

Prime + 4.95%, Floor rate 8.20%, PIK Interest 1.50%, 3.95% Exit Fee

 

$

10,141

 

 

 

10,114

 

 

 

10,304

 

 

(12)(14)(17)

Udacity, Inc.

 

Senior Secured

 

September 2024

 

Prime + 4.50%, Floor rate 7.75%, PIK Interest 2.00%, 3.00% Exit Fee

 

$

52,197

 

 

 

52,678

 

 

 

50,982

 

 

(12)(14)

Veem, Inc.

 

Senior Secured

 

March 2025

 

Prime + 4.00%, Floor rate 7.25%, PIK Interest 1.25%, 4.50% Exit Fee

 

$

5,058

 

 

 

5,042

 

 

 

5,108

 

 

(13)(14)

 

Senior Secured

 

March 2025

 

Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.50%, 4.50% Exit Fee

 

$

5,052

 

 

 

5,043

 

 

 

5,185

 

 

(14)

Total Veem, Inc.

 

 

 

 

 

 

 

$

10,110

 

 

 

10,085

 

 

 

10,293

 

 

 

Vida Health, Inc.

 

Senior Secured

 

March 2026

 

Prime + -3.25%, Floor rate 9.20%, Cap rate 10.20%, 4.95% Exit Fee

 

$

11,822

 

 

 

11,683

 

 

 

11,447

 

 

(17)

Worldremit Group Limited

 

Senior Secured

 

February 2025

 

3-month LIBOR + 9.25%, Floor rate 10.25%, 3.20% Exit Fee

 

$

94,500

 

 

 

94,528

 

 

 

94,506

 

 

(5)(10)(11)(12)(16)(19)

Subtotal: Consumer & Business Services (30.89%)*

 

 

 

 

 

 

 

479,170

 

 

 

463,084

 

 

 

Diversified Financial Services

 

 

 

 

 

 

 

 

 

 

 

 

 

Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC)

 

Unsecured

 

September 2026

 

FIXED 11.50%

 

$

25,000

 

 

 

24,589

 

 

 

24,589

 

 

(7)

Hercules Adviser LLC

 

Unsecured

 

June 2025

 

FIXED 5.00%

 

$

12,000

 

 

 

12,000

 

 

 

12,000

 

 

(7)

Next Insurance, Inc.

 

Senior Secured

 

February 2028

 

Prime + -1.50%, Floor rate 4.75%, PIK Interest 5.50%

 

$

10,040

 

 

 

9,836

 

 

 

9,836

 

 

(14)(17)(19)

Subtotal: Diversified Financial Services (3.10%)*

 

 

 

 

 

 

 

46,425

 

 

 

46,425

 

 

 

 

See notes to consolidated financial statements

7


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Drug Discovery & Development

 

 

 

 

 

 

 

 

 

 

 

 

 

Akero Therapeutics, Inc.

 

Senior Secured

 

January 2027

 

Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee

 

$

12,500

 

 

$

12,321

 

 

$

12,734

 

 

(10)(13)(17)

Aldeyra Therapeutics, Inc.

 

Senior Secured

 

October 2024

 

Prime + 3.10%, Floor rate 8.60%, 8.90% Exit Fee

 

$

15,000

 

 

 

15,961

 

 

 

16,111

 

 

(11)

Alladapt Immunotherapeutics Inc.

 

Senior Secured

 

September 2026

 

Prime + 3.65%, Floor rate 8.40%, Cap rate 10.90%, 9.09% Exit Fee

 

$

17,500

 

 

 

17,455

 

 

 

17,323

 

 

(13)(17)

AmplifyBio, LLC

 

Senior Secured

 

January 2027

 

Prime + 2.50%, Floor rate 9.50%, Cap rate 10.75%, 5.85% Exit Fee

 

$

24,000

 

 

 

23,771

 

 

 

23,771

 

 

(15)

ATAI Life Sciences N.V.

 

Senior Secured

 

August 2026

 

Prime + 4.55%, Floor rate 8.55%, 6.95% Exit Fee

 

$

10,500

 

 

 

10,559

 

 

 

10,570

 

 

(5)(10)(17)

Axsome Therapeutics, Inc.

 

Senior Secured

 

January 2028

 

Prime + 2.20%, Floor rate 9.95%, Cap rate 10.70%, 5.93% Exit Fee

 

$

121,600

 

 

 

121,143

 

 

 

121,464

 

 

(10)(11)(12)(16)(17)

Bicycle Therapeutics PLC

 

Senior Secured

 

July 2025

 

Prime + 4.55%, Floor rate 8.05%, Cap rate 9.05%, 5.00% Exit Fee

 

$

11,500

 

 

 

11,788

 

 

 

11,519

 

 

(5)(10)(11)(12)

BiomX, INC

 

Senior Secured

 

September 2025

 

Prime + 5.70%, Floor rate 8.95%, 6.55% Exit Fee

 

$

8,749

 

 

 

8,971

 

 

 

8,904

 

 

(5)(10)(11)

BridgeBio Pharma, Inc.

 

Senior Secured

 

November 2026

 

FIXED 9.00%, 2.00% Exit Fee

 

$

37,598

 

 

 

37,380

 

 

 

33,695

 

 

(12)(13)(14)

Cellarity, Inc.

 

Senior Secured

 

June 2026

 

Prime + 5.70%, Floor rate 8.95%, 3.75% Exit Fee

 

$

30,000

 

 

 

29,947

 

 

 

30,380

 

 

(13)(15)

Century Therapeutics, Inc.

 

Senior Secured

 

April 2024

 

Prime + 6.30%, Floor rate 9.55%, 3.95% Exit Fee

 

$

10,000

 

 

 

10,275

 

 

 

10,498

 

 

(11)

Codiak Biosciences, Inc.

 

Senior Secured

 

October 2025

 

Prime + 5.00%, Floor rate 8.25%, 5.50% Exit Fee

 

$

17,500

 

 

 

18,337

 

 

 

16,343

 

 

(11)

Corium, Inc.

 

Senior Secured

 

September 2026

 

Prime + 5.70%, Floor rate 8.95%, 7.75% Exit Fee

 

$

132,675

 

 

 

134,041

 

 

 

136,593

 

 

(13)(16)

Eloxx Pharmaceuticals, Inc.

 

Senior Secured

 

April 2025

 

Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee

 

$

5,000

 

 

 

5,621

 

 

 

5,542

 

 

(15)

enGene, Inc.

 

Senior Secured

 

July 2025

 

Prime + 5.00%, Floor rate 8.25%, 6.35% Exit Fee

 

$

11,000

 

 

 

11,150

 

 

 

11,115

 

 

(5)(10)(12)(13)

G1 Therapeutics, Inc.

 

Senior Secured

 

November 2026

 

Prime + 5.90%, Floor rate 9.15%, 9.86% Exit Fee

 

$

58,125

 

 

 

58,872

 

 

 

58,817

 

 

(11)(12)(15)(17)

Geron Corporation

 

Senior Secured

 

April 2025

 

Prime + 5.75%, Floor rate 9.00%, 6.55% Exit Fee

 

$

18,500

 

 

 

19,176

 

 

 

19,379

 

 

(10)(12)(13)

Gritstone Bio, Inc.

 

Senior Secured

 

July 2027

 

Prime + 3.15%, Floor rate 7.15%, Cap rate 8.65%, PIK Interest 2.00%, 5.75% Exit Fee

 

$

22,689

 

 

 

22,693

 

 

 

21,942

 

 

(13)(14)(17)

Hibercell, Inc.

 

Senior Secured

 

May 2025

 

Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee

 

$

17,000

 

 

 

17,381

 

 

 

17,369

 

 

(13)(15)

HilleVax, Inc.

 

Senior Secured

 

May 2027

 

Prime + 1.05%, Floor rate 4.55%, Cap rate 6.05%, PIK Interest 2.85%, 7.15% Exit Fee

 

$

12,150

 

 

 

12,167

 

 

 

11,462

 

 

(14)(15)(17)

Iveric Bio, Inc.

 

Senior Secured

 

August 2027

 

Prime + 4.00%, Floor rate 8.75%, Cap rate 10.25%, 4.25% Exit Fee

 

$

49,500

 

 

 

49,211

 

 

 

48,495

 

 

(10)(12)(17)

Kura Oncology, Inc.

 

Senior Secured

 

November 2027

 

Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee

 

$

5,500

 

 

 

5,468

 

 

 

5,468

 

 

(10)(15)(17)

Locus Biosciences, Inc.

 

Senior Secured

 

July 2025

 

Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee

 

$

7,544

 

 

 

7,699

 

 

 

7,701

 

 

(15)

Madrigal Pharmaceutical, Inc.

 

Senior Secured

 

May 2026

 

Prime + 2.45%, Floor rate 8.25%, 5.35% Exit Fee

 

$

57,800

 

 

 

57,574

 

 

 

57,885

 

 

(10)(17)

Phathom Pharmaceuticals, Inc.

 

Senior Secured

 

October 2026

 

Prime + 2.25%, Floor rate 5.50%, PIK Interest 3.35%, 7.50% Exit Fee

 

$

95,494

 

 

 

96,111

 

 

 

95,310

 

 

(10)(12)(14)(15)(16)(17)(22)

Provention Bio, Inc.

 

Senior Secured

 

September 2027

 

Prime + 2.20%, Floor rate 8.20%, 6.60% Exit Fee

 

$

65,000

 

 

 

64,186

 

 

 

70,594

 

 

 

Redshift Bioanalytics, Inc.

 

Senior Secured

 

January 2026

 

Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee

 

$

5,000

 

 

 

4,979

 

 

 

5,001

 

 

(15)

Replimune Group, Inc.

 

Senior Secured

 

October 2027

 

Prime + 1.75%, Floor rate 7.25%, Cap rate 9.00%, PIK Interest 1.50%, 4.95% Exit Fee

 

$

20,832

 

 

 

20,781

 

 

 

20,781

 

 

(10)(14)(17)

Scynexis, Inc.

 

Senior Secured

 

March 2025

 

Prime + 5.80%, Floor rate 9.05%, 3.95% Exit Fee

 

$

18,667

 

 

 

18,758

 

 

 

19,544

 

 

(12)(13)

Seres Therapeutics, Inc.

 

Senior Secured

 

October 2024

 

Prime + 6.40%, Floor rate 9.65%, 4.98% Exit Fee

 

$

37,500

 

 

 

38,768

 

 

 

38,982

 

 

(12)(13)

Tarsus Pharmaceuticals, Inc.

 

Senior Secured

 

February 2027

 

Prime + 4.45%, Floor rate 8.45%, Cap rate 11.45%, 4.75% Exit Fee

 

$

10,313

 

 

 

10,346

 

 

 

10,397

 

 

(10)(13)(17)

TG Therapeutics, Inc.

 

Senior Secured

 

January 2026

 

Prime + 1.20%, Floor rate 8.95%, PIK Interest 2.25%, 5.69% Exit Fee

 

$

64,648

 

 

 

64,368

 

 

 

64,374

 

 

(10)(11)(12)(14)(17)

uniQure B.V.

 

Senior Secured

 

December 2025

 

Prime + 4.70%, Floor rate 7.95%, 8.03% Exit Fee

 

$

70,000

 

 

 

72,628

 

 

 

74,010

 

 

(5)(10)(11)(12)

 

See notes to consolidated financial statements

8


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Unity Biotechnology, Inc.

 

Senior Secured

 

August 2024

 

Prime + 6.10%, Floor rate 9.35%, 6.25% Exit Fee

 

$

20,000

 

 

$

21,165

 

 

$

21,136

 

 

(13)

Valo Health, LLC

 

Senior Secured

 

May 2024

 

Prime + 6.45%, Floor rate 9.70%, 3.85% Exit Fee

 

$

6,708

 

 

 

7,021

 

 

 

7,030

 

 

(11)(13)

Viridian Therapeutics, Inc.

 

Senior Secured

 

October 2026

 

Prime + 4.20%, Floor rate 7.45%, Cap rate 8.95%, 6.00% Exit Fee

 

$

2,000

 

 

 

2,019

 

 

 

1,943

 

 

(10)(13)(17)

X4 Pharmaceuticals, Inc.

 

Senior Secured

 

April 2026

 

Prime + 3.15%, Floor rate 10.15%, 6.35% Exit Fee

 

$

32,500

 

 

 

32,445

 

 

 

32,445

 

 

(11)(12)(13)

Subtotal: Drug Discovery & Development (78.49%)*

 

 

 

 

 

 

 

1,172,536

 

 

 

1,176,627

 

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

Locus Robotics Corp.

 

Senior Secured

 

June 2026

 

Prime + 4.50%, Floor rate 8.00%, 1.00% Exit Fee

 

$

18,281

 

 

 

18,213

 

 

 

19,081

 

 

(17)(19)

Subtotal: Electronics & Computer Hardware (1.27%)*

 

 

 

 

 

 

 

18,213

 

 

 

19,081

 

 

 

Healthcare Services, Other

 

 

 

 

 

 

 

 

 

 

 

 

 

Better Therapeutics, Inc.

 

Senior Secured

 

August 2025

 

Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee

 

$

11,652

 

 

 

11,883

 

 

 

11,615

 

 

(15)

Blue Sprig Pediatrics, Inc.

 

Senior Secured

 

November 2026

 

3-month LIBOR + 5.00%, Floor rate 6.00%, PIK Interest 4.45%

 

$

52,055

 

 

 

51,415

 

 

 

50,547

 

 

(11)(13)(14)

Carbon Health Technologies, Inc.

 

Senior Secured

 

March 2025

 

Prime + 5.60%, Floor rate 8.85%, 4.61% Exit Fee

 

$

46,125

 

 

 

46,702

 

 

 

47,052

 

 

(11)(13)(19)

Equality Health, LLC

 

Senior Secured

 

February 2026

 

Prime + 6.25%, Floor rate 9.50%, PIK Interest 1.55%

 

$

53,795

 

 

 

53,407

 

 

 

53,963

 

 

(11)(12)(14)

Oak Street Health, Inc.

 

Senior Secured

 

October 2027

 

Prime + 2.45%, Floor rate 7.95%, Cap rate 9.45%, PIK Interest 1.00%, 4.95% Exit Fee

 

$

45,143

 

 

 

44,924

 

 

 

48,154

 

 

(10)(14)(17)

Subtotal: Healthcare Services, Other (14.10%)*

 

 

 

 

 

 

 

208,331

 

 

 

211,331

 

 

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

Capella Space Corp.

 

Senior Secured

 

November 2025

 

Prime + 5.00%, Floor rate 8.25%, PIK Interest 1.10%, 7.00% Exit Fee

 

$

20,305

 

 

 

20,663

 

 

 

20,822

 

 

(14)(15)(19)

Signal Media Limited

 

Senior Secured

 

June 2025

 

Prime + 5.50%, Floor rate 9.00%, Cap rate 12.00%, 3.45% Exit Fee

 

$

3,000

 

 

 

2,956

 

 

 

2,956

 

 

(5)(10)(17)

Yipit, LLC

 

Senior Secured

 

September 2026

 

1-month SOFR + 9.14%, Floor rate 10.04%

 

$

31,875

 

 

 

31,396

 

 

 

31,805

 

 

(17)(18)

Subtotal: Information Services (3.71%)*

 

 

 

 

 

 

 

55,015

 

 

 

55,583

 

 

 

Manufacturing Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

Bright Machines, Inc.

 

Senior Secured

 

April 2025

 

Prime + 4.00%, Floor rate 9.50%, 5.00% Exit Fee

 

$

11,050

 

 

 

10,951

 

 

 

11,045

 

 

(13)

MacroFab, Inc.

 

Senior Secured

 

March 2026

 

Prime + 4.35%, Floor rate 7.60%, PIK Interest 1.25%, 4.50% Exit Fee

 

$

20,191

 

 

 

19,808

 

 

 

20,330

 

 

(14)

Ouster, Inc.

 

Senior Secured

 

May 2026

 

Prime + 6.15%, Floor rate 9.40%, 7.45% Exit Fee

 

$

14,000

 

 

 

14,038

 

 

 

14,509

 

 

(10)(13)

Subtotal: Manufacturing Technology (3.06%)*

 

 

 

 

 

 

 

44,797

 

 

 

45,884

 

 

 

Media/Content/Info

 

 

 

 

 

 

 

 

 

 

 

 

 

Fever Labs, Inc.

 

Senior Secured

 

September 2026

 

Prime + 3.50%, Floor rate 9.00%, 3.67% Exit Fee

 

$

6,667

 

 

 

6,594

 

 

 

6,594

 

 

(19)

 

 

Senior Secured

 

September 2025

 

Prime + 3.50%, Floor rate 9.00%, 2.67% Exit Fee

 

$

1,667

 

 

 

1,652

 

 

 

1,652

 

 

(19)

 

 

Senior Secured

 

December 2025

 

Prime + 3.50%, Floor rate 9.00%, 2.98% Exit Fee

 

$

1,667

 

 

 

1,646

 

 

 

1,646

 

 

(19)

Total Fever Labs, Inc.

 

 

 

 

 

 

 

$

10,001

 

 

 

9,892

 

 

 

9,892

 

 

 

Subtotal: Media/Content/Info (0.66%)*

 

 

 

 

 

 

 

9,892

 

 

 

9,892

 

 

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3GTMS, LLC

 

Senior Secured

 

February 2025

 

3-month LIBOR + 9.27%, Floor rate 10.27%

 

$

13,205

 

 

 

13,078

 

 

 

13,140

 

 

(11)(17)(18)

Agilence, Inc.

 

Senior Secured

 

October 2026

 

1-month BSBY + 9.00%, Floor rate 10.00%

 

$

9,283

 

 

 

9,075

 

 

 

8,975

 

 

(12)(17)(18)

Alchemer LLC

 

Senior Secured

 

May 2028

 

1-month SOFR + 8.14%, Floor rate 9.14%

 

$

20,908

 

 

 

20,459

 

 

 

20,975

 

 

(13)(17)(18)

Annex Cloud

 

Senior Secured

 

February 2027

 

1-month BSBY + 8.99%, Floor rate 9.99%

 

$

8,500

 

 

 

8,302

 

 

 

8,270

 

 

(13)(17)

Automation Anywhere, Inc.

 

Senior Secured

 

September 2027

 

Prime + 4.25%, Floor rate 9.00%, 2.50% Exit Fee

 

$

19,600

 

 

 

19,127

 

 

 

19,653

 

 

(11)(17)(19)

Babel Street

 

Senior Secured

 

December 2027

 

3-month SOFR + 7.89%, Floor rate 8.89%

 

$

45,000

 

 

 

43,844

 

 

 

43,844

 

 

(15)(17)(18)

 

 

See notes to consolidated financial statements

9


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Brain Corporation

 

Senior Secured

 

April 2025

 

Prime + 3.70%, Floor rate 6.95%, PIK Interest 1.00%, 3.95% Exit Fee

 

$

20,217

 

 

$

20,366

 

 

$

20,399

 

 

(13)(14)(15)(17)

Campaign Monitor Limited

 

Senior Secured

 

November 2025

 

3-month SOFR + 8.90%, Floor rate 9.90%

 

$

33,000

 

 

 

32,608

 

 

 

33,000

 

 

(13)(19)

Catchpoint Systems, Inc.

 

Senior Secured

 

June 2026

 

3-month SOFR + 8.86%, Floor rate 9.76%

 

$

10,149

 

 

 

9,966

 

 

 

10,028

 

 

(18)

Ceros, Inc.

 

Senior Secured

 

September 2026

 

6-month LIBOR + 8.89%, Floor rate 9.89%

 

$

23,026

 

 

 

22,574

 

 

 

23,176

 

 

(17)(18)

Constructor.io Corporation

 

Senior Secured

 

July 2027

 

1-month SOFR + 8.44%, Floor rate 9.44%

 

$

4,688

 

 

 

4,578

 

 

 

4,704

 

 

(17)(18)

Convoy, Inc.

 

Senior Secured

 

March 2026

 

Prime + 3.20%, Floor rate 6.45%, PIK Interest 1.95%, 4.55% Exit Fee

 

$

74,348

 

 

 

73,672

 

 

 

74,294

 

 

(14)(19)

Copper CRM, Inc

 

Senior Secured

 

March 2025

 

Prime + 4.50%, Floor rate 8.25%, Cap rate 10.25%, PIK Interest 1.95%, 4.50% Exit Fee

 

$

9,925

 

 

 

9,971

 

 

 

9,652

 

 

(11)(14)

Cutover, Inc.

 

Senior Secured

 

October 2025

 

Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee

 

$

5,500

 

 

 

5,464

 

 

 

5,597

 

 

(5)(10)(12)(17)

Cybermaxx Intermediate Holdings, Inc.

 

Senior Secured

 

August 2026

 

6-month SOFR + 8.63%, Floor rate 9.38%

 

$

7,975

 

 

 

7,821

 

 

 

7,514

 

 

(13)(17)

Cybermaxx Intermediate Holdings, Inc.

 

Senior Secured

 

August 2026

 

6-month SOFR + 12.36%, Floor rate 13.11%

 

$

2,553

 

 

 

2,489

 

 

 

2,487

 

 

(17)

Total Cybermaxx Intermediate Holdings, Inc.

 

 

 

 

 

 

 

$

10,528

 

 

 

10,310

 

 

 

10,001

 

 

 

Dashlane, Inc.

 

Senior Secured

 

July 2025

 

Prime + 3.05%, Floor rate 7.55%, PIK Interest 1.10%, 6.29% Exit Fee

 

$

34,513

 

 

 

34,518

 

 

 

34,413

 

 

(11)(13)(14)(17)(19)

Dispatch Technologies, Inc.

 

Senior Secured

 

April 2028

 

3-month SOFR + 8.01%, Floor rate 8.76%

 

$

7,500

 

 

 

7,302

 

 

 

7,325

 

 

(17)(18)

Eigen Technologies Ltd.

 

Senior Secured

 

April 2025

 

Prime + 5.10%, Floor rate 8.35%, 2.95% Exit Fee

 

$

3,750

 

 

 

3,758

 

 

 

3,742

 

 

(5)(10)

Elation Health, Inc.

 

Senior Secured

 

March 2026

 

Prime + 4.25%, Floor rate 9.00%, PIK Interest 1.95%, 3.95% Exit Fee

 

$

5,046

 

 

 

4,886

 

 

 

5,009

 

 

(14)(17)(19)

Enmark Systems, Inc.

 

Senior Secured

 

September 2026

 

3-month LIBOR + 6.76%, Floor rate 7.76%, PIK Interest 2.15%

 

$

8,268

 

 

 

8,107

 

 

 

8,184

 

 

(11)(14)(17)(18)

Esme Learning Solutions, Inc.

 

Senior Secured

 

February 2025

 

Prime + 5.50%, Floor rate 8.75%, PIK Interest 1.50%, 3.00% Exit Fee

 

$

4,783

 

 

 

4,628

 

 

 

1,193

 

 

(8)(14)

Fortified Health Security

 

Senior Secured

 

December 2027

 

6-month SOFR + 7.79%, Floor rate 8.54%

 

$

7,000

 

 

 

6,830

 

 

 

6,830

 

 

(17)(18)

Flight Schedule Pro, LLC

 

Senior Secured

 

October 2027

 

1-month SOFR + 7.80%, Floor rate 8.70%

 

$

5,948

 

 

 

5,777

 

 

 

5,778

 

 

(17)(18)

Ikon Science Limited

 

Senior Secured

 

October 2024

 

3-month Eurodollar + 9.00%, Floor rate 10.00%

 

$

6,475

 

 

 

6,353

 

 

 

6,394

 

 

(5)(10)(17)(18)

Imperva, Inc.

 

Senior Secured

 

January 2027

 

3-month LIBOR + 7.75%, Floor rate 8.75%

 

$

20,000

 

 

 

19,881

 

 

 

20,200

 

 

(19)

Khoros (p.k.a Lithium Technologies)

 

Senior Secured

 

January 2024

 

3-month SOFR + 8.00%, Floor rate 9.00%

 

$

56,208

 

 

 

56,096

 

 

 

56,096

 

 

(17)

Kore.ai, Inc.

 

Senior Secured

 

April 2027

 

Prime + 1.50%, Floor rate 9.25%, PIK Interest 2.20%, 2.25% Exit Fee

 

$

30,000

 

 

 

29,541

 

 

 

29,541

 

 

 

Leapwork ApS

 

Senior Secured

 

February 2026

 

Prime + 0.25%, Floor rate 7.25%, PIK Interest 1.95%, 2.70% Exit Fee

 

$

3,757

 

 

 

3,723

 

 

 

3,723

 

 

(5)(10)(14)(17)

Loftware, Inc.

 

Senior Secured

 

March 2028

 

3-month SOFR + 7.88%, Floor rate 8.88%

 

$

25,900

 

 

 

25,255

 

 

 

25,255

 

 

(17)(18)

LogicSource

 

Senior Secured

 

July 2027

 

3-month SOFR + 8.93%, Floor rate 9.93%

 

$

13,300

 

 

 

13,039

 

 

 

13,172

 

 

(17)

Mobile Solutions Services

 

Senior Secured

 

December 2025

 

3-month LIBOR + 9.06%, Floor rate 10.06%

 

$

18,366

 

 

 

18,033

 

 

 

17,754

 

 

(18)

 

See notes to consolidated financial statements

10


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Nextroll, Inc.

 

Senior Secured

 

July 2023

 

Prime + 3.75%, Floor rate 7.75%, PIK Interest 2.95%, 1.95% Exit Fee

 

$

22,375

 

 

$

22,619

 

 

$

22,619

 

 

(12)(14)

Nuvolo Technologies Corporation

 

Senior Secured

 

July 2025

 

Prime + 5.25%, Floor rate 8.50%, 2.42% Exit Fee

 

$

22,500

 

 

 

22,575

 

 

 

22,929

 

 

(12)(13)(17)(19)

Omeda Holdings, LLC

 

Senior Secured

 

July 2027

 

3-month SOFR + 8.05%, Floor rate 9.05%

 

$

7,500

 

 

 

7,270

 

 

 

7,295

 

 

(17)(18)

Riviera Partners LLC

 

Senior Secured

 

April 2027

 

6-month SOFR + 7.53%, Floor rate 8.53%

 

$

26,053

 

 

 

25,516

 

 

 

25,074

 

 

(17)(18)

Salary.com, LLC

 

Senior Secured

 

September 2027

 

6-month SOFR + 8.25%, Floor rate 9.00%

 

$

17,955

 

 

 

17,622

 

 

 

17,994

 

 

(18)

ShadowDragon, LLC

 

Senior Secured

 

December 2026

 

1-month LIBOR + 8.97%, Floor rate 9.97%

 

$

5,985

 

 

 

5,848

 

 

 

5,780

 

 

(17)(18)

Simon Data, Inc.

 

Senior Secured

 

March 2027

 

Prime + 1.00%, Floor rate 8.75%, PIK Interest 1.95%, 2.95% Exit Fee

 

$

15,000

 

 

 

14,892

 

 

 

14,892

 

 

 

Streamline Healthcare Solutions

 

Senior Secured

 

March 2028

 

6-month SOFR + 7.25%, Floor rate 8.25%

 

$

13,200

 

 

 

12,921

 

 

 

12,921

 

 

(17)(18)

Tact.ai Technologies, Inc.

 

Senior Secured

 

February 2024

 

Prime + 4.00%, Floor rate 8.75%, PIK Interest 2.00%, 5.50% Exit Fee

 

$

3,474

 

 

 

3,448

 

 

 

3,448

 

 

(14)

ThreatConnect, Inc.

 

Senior Secured

 

May 2026

 

6-month LIBOR + 9.00%, Floor rate 10.00%

 

$

11,004

 

 

 

10,765

 

 

 

10,827

 

 

(17)(18)

Tipalti Solutions Ltd.

 

Senior Secured

 

April 2027

 

Prime + 0.45%, Floor rate 7.95%, PIK Interest 2.00%, 3.75% Exit Fee

 

$

10,500

 

 

 

10,349

 

 

 

10,349

 

 

(5)(10)(17)

VideoAmp, Inc.

 

Senior Secured

 

February 2025

 

Prime + 3.70%, Floor rate 6.95%, PIK Interest 1.25%, 5.25% Exit Fee

 

$

63,384

 

 

 

63,224

 

 

 

64,281

 

 

(14)(15)(19)

Zappi, Inc.

 

Senior Secured

 

December 2027

 

3-month SOFR + 8.03%, Floor rate 9.03%

 

$

9,213

 

 

 

9,001

 

 

 

9,001

 

 

(5)(10)(17)(18)

Zimperium, Inc.

 

Senior Secured

 

May 2027

 

3-month SOFR + 8.31%, Floor rate 9.31%

 

$

16,313

 

 

 

16,014

 

 

 

16,251

 

 

(17)(18)

Subtotal: Software (52.97%)*

 

 

 

 

 

 

 

793,185

 

 

 

793,978

 

 

 

Sustainable and Renewable Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

Ampion, PBC

 

Senior Secured

 

May 2025

 

Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.45%, 3.95% Exit Fee

 

$

4,052

 

 

 

4,018

 

 

 

4,048

 

 

(13)(14)

Pineapple Energy LLC

 

Senior Secured

 

December 2024

 

PIK Interest 10.00%

 

$

3,318

 

 

 

3,318

 

 

 

3,108

 

 

(14)

Subtotal: Sustainable and Renewable Technology (0.48%)*

 

 

 

 

 

 

 

7,336

 

 

 

7,156

 

 

 

Total: Debt Investments (198.04%)*

 

 

 

 

 

 

$

2,971,498

 

 

$

2,968,651

 

 

 

 

 

 

Portfolio Company

 

Type of
Investment

Acquisition Date (4)

Series (3)

 

Shares

 

 

Cost (2)

 

 

Value

 

 

Footnotes

Equity Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grove Collaborative, Inc.

 

Equity

4/30/2021

Common Stock

 

 

61,300

 

 

$

433

 

 

$

27

 

 

(4)

Savage X Holding, LLC

 

Equity

4/30/2010

Class A Units

 

 

42,137

 

 

 

13

 

 

 

210

 

 

 

TechStyle, Inc.

 

Equity

4/30/2010

Common Stock

 

 

42,989

 

 

 

128

 

 

 

135

 

 

 

TFG Holding, Inc.

 

Equity

4/30/2010

Common Stock

 

 

42,989

 

 

 

89

 

 

 

101

 

 

 

Subtotal: Consumer & Business Products (0.03%)*

 

 

 

 

 

663

 

 

 

473

 

 

 

Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carwow LTD

 

Equity

12/15/2021

Preferred Series D-4

 

 

199,742

 

 

 

1,151

 

 

 

354

 

 

(5)(10)

DoorDash, Inc.

 

Equity

12/20/2018

Common Stock

 

 

81,996

 

 

 

945

 

 

 

5,211

 

 

(4)

Lyft, Inc.

 

Equity

12/26/2018

Common Stock

 

 

100,738

 

 

 

5,263

 

 

 

934

 

 

(4)

Nerdy Inc.

 

Equity

9/17/2021

Common Stock

 

 

100,000

 

 

 

1,000

 

 

 

418

 

 

(4)

OfferUp, Inc.

 

Equity

10/25/2016

Preferred Series A

 

 

286,080

 

 

 

1,663

 

 

 

383

 

 

 

 

Equity

10/25/2016

Preferred Series A-1

 

 

108,710

 

 

 

632

 

 

 

146

 

 

 

Total OfferUp, Inc.

 

 

 

 

 

 

394,790

 

 

 

2,295

 

 

 

529

 

 

 

Oportun

 

Equity

6/28/2013

Common Stock

 

 

48,365

 

 

 

577

 

 

 

187

 

 

(4)

Reischling Press, Inc.

 

Equity

7/31/2020

Common Stock

 

 

3,095

 

 

 

39

 

 

 

 

 

 

Rhino Labs, Inc.

 

Equity

1/24/2022

Preferred Series B-2

 

 

7,063

 

 

 

1,000

 

 

 

752

 

 

 

Tectura Corporation

 

Equity

5/23/2018

Common Stock

 

 

414,994,863

 

 

 

900

 

 

 

 

 

(7)

 

Equity

6/6/2016

Preferred Series BB

 

 

1,000,000

 

 

 

 

 

 

 

 

(7)

Total Tectura Corporation

 

 

 

 

 

 

415,994,863

 

 

 

900

 

 

 

 

 

 

Subtotal: Consumer & Business Services (0.56%)*

 

 

 

 

 

13,170

 

 

 

8,385

 

 

 

 

 

 

 

See notes to consolidated financial statements

11


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

Portfolio Company

 

Type of
Investment

Acquisition Date (4)

Series (3)

 

Shares

 

 

Cost (2)

 

 

Value

 

 

Footnotes

Diversified Financial Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC)

 

Equity

3/1/2018

Common Stock

 

 

830,000

 

 

$

1,884

 

 

$

1,170

 

 

(7)

 

Equity

3/1/2018

Preferred Series A

 

 

10,602,752

 

 

 

26,122

 

 

 

14,942

 

 

(7)

Total Gibraltar Acquisition, LLC (p.k.a. Gibraltar Business Capital, LLC)

 

 

 

 

 

 

11,432,752

 

 

 

28,006

 

 

 

16,112

 

 

 

Hercules Adviser LLC

 

Equity

3/26/2021

Member Units

 

 

1

 

 

 

35

 

 

 

24,595

 

 

(7)

Newfront Insurance Holdings, Inc.

 

Equity

9/30/2021

Preferred Series D-2

 

 

210,282

 

 

 

403

 

 

 

484

 

 

 

Subtotal: Diversified Financial Services (2.75%)*

 

 

 

 

 

28,444

 

 

 

41,191

 

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc.

 

Equity

12/10/2018

Common Stock

 

 

8,836

 

 

 

1,329

 

 

 

6

 

 

(4)

Aytu BioScience, Inc.

 

Equity

3/28/2014

Common Stock

 

 

680

 

 

 

1,500

 

 

 

2

 

 

(4)

BioQ Pharma Incorporated

 

Equity

12/8/2015

Preferred Series D

 

 

165,000

 

 

 

500

 

 

 

 

 

 

PDS Biotechnology Corporation

 

Equity

4/6/2015

Common Stock

 

 

2,498

 

 

 

309

 

 

 

15

 

 

(4)

Subtotal: Drug Delivery (0.00%)*

 

 

 

 

 

3,638

 

 

 

23

 

 

 

Drug Discovery & Development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Applied Molecular Transport

 

Equity

4/6/2021

Common Stock

 

 

1,000

 

 

 

42

 

 

 

 

 

(4)(10)

Avalo Therapeutics, Inc.

 

Equity

8/19/2014

Common Stock

 

 

9,923

 

 

 

1,000

 

 

 

17

 

 

(4)

Axsome Therapeutics, Inc.

 

Equity

5/9/2022

Common Stock

 

 

127,021

 

 

 

4,165

 

 

 

7,835

 

 

(4)(10)(16)

Bicycle Therapeutics PLC

 

Equity

10/5/2020

Common Stock

 

 

98,100

 

 

 

1,871

 

 

 

2,087

 

 

(4)(5)(10)

BridgeBio Pharma, Inc.

 

Equity

6/21/2018

Common Stock

 

 

231,329

 

 

 

2,255

 

 

 

3,836

 

 

(4)

Dare Biosciences, Inc.

 

Equity

1/8/2015

Common Stock

 

 

13,550

 

 

 

1,000

 

 

 

14

 

 

(4)

Dynavax Technologies

 

Equity

7/22/2015

Common Stock

 

 

20,000

 

 

 

550

 

 

 

196

 

 

(4)(10)

Gritstone Bio, Inc.

 

Equity

10/26/2022

Common Stock

 

 

442,477

 

 

 

1,000

 

 

 

1,230

 

 

(4)

Hibercell, Inc.

 

Equity

5/7/2021

Preferred Series B

 

 

3,466,840

 

 

 

4,250

 

 

 

1,979

 

 

(15)

HilleVax, Inc.

 

Equity

5/3/2022

Common Stock

 

 

235,295

 

 

 

4,000

 

 

 

3,889

 

 

(4)

Humanigen, Inc.

 

Equity

3/31/2021

Common Stock

 

 

43,243

 

 

 

800

 

 

 

6

 

 

(4)(10)

NorthSea Therapeutics

 

Equity

12/15/2021

Preferred Series C

 

 

983

 

 

 

2,000

 

 

 

1,476

 

 

(5)(10)

Paratek Pharmaceuticals, Inc.

 

Equity

2/26/2007

Common Stock

 

 

76,362

 

 

 

2,744

 

 

 

194

 

 

(4)

Rocket Pharmaceuticals, Ltd.

 

Equity

8/22/2007

Common Stock

 

 

944

 

 

 

1,500

 

 

 

16

 

 

(4)

Savara, Inc.

 

Equity

8/11/2015

Common Stock

 

 

11,119

 

 

 

203

 

 

 

22

 

 

(4)

Sio Gene Therapies, Inc.

 

Equity

2/2/2017

Common Stock

 

 

16,228

 

 

 

1,269

 

 

 

7

 

 

(4)

Tarsus Pharmaceuticals, Inc.

 

Equity

5/5/2022

Common Stock

 

 

155,555

 

 

 

2,100

 

 

 

1,955

 

 

(4)(10)

Tricida, Inc.

 

Equity

2/28/2018

Common Stock

 

 

68,816

 

 

 

863

 

 

 

 

 

 

uniQure B.V.

 

Equity

1/31/2019

Common Stock

 

 

17,175

 

 

 

332

 

 

 

346

 

 

(4)(5)(10)

Valo Health, LLC

 

Equity

12/11/2020

Preferred Series B

 

 

510,308

 

 

 

3,000

 

 

 

1,944

 

 

 

 

Equity

10/31/2022

Preferred Series C

 

 

170,102

 

 

 

1,000

 

 

 

985

 

 

 

Total Valo Health, LLC

 

 

 

 

 

 

680,410

 

 

 

4,000

 

 

 

2,929

 

 

 

X4 Pharmaceuticals, Inc.

 

Equity

11/26/2019

Common Stock

 

 

1,566,064

 

 

 

2,945

 

 

 

1,362

 

 

(4)

Subtotal: Drug Discovery & Development (1.96%)*

 

 

 

 

 

38,889

 

 

 

29,396

 

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Locus Robotics Corp.

 

Equity

11/17/2022

Preferred Series F

 

 

15,116

 

 

 

650

 

 

 

564

 

 

 

Skydio, Inc.

 

Equity

3/8/2022

Preferred Series E

 

 

248,900

 

 

 

1,500

 

 

 

783

 

 

 

Subtotal: Electronics & Computer Hardware (0.09%)*

 

 

 

 

 

2,150

 

 

 

1,347

 

 

 

Healthcare Services, Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23andMe, Inc.

 

Equity

3/11/2019

Common Stock

 

 

825,732

 

 

 

5,094

 

 

 

1,883

 

 

(4)

Carbon Health Technologies, Inc.

 

Equity

3/30/2021

Preferred Series C

 

 

217,880

 

 

 

1,688

 

 

 

985

 

 

 

Subtotal: Healthcare Services, Other (0.19%)*

 

 

 

 

 

6,782

 

 

 

2,868

 

 

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Planet Labs, Inc.

 

Equity

6/21/2019

Common Stock

 

 

547,880

 

 

 

615

 

 

 

2,153

 

 

(4)

Yipit, LLC

 

Equity

12/30/2021

Preferred Series E

 

 

41,021

 

 

 

3,825

 

 

 

3,859

 

 

 

Subtotal: Information Services (0.40%)*

 

 

 

 

 

4,440

 

 

 

6,012

 

 

 

 

See notes to consolidated financial statements

12


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

(dollars in thousands)

Portfolio Company

 

Type of
Investment

Acquisition Date (4)

Series (3)

 

Shares

 

 

Cost (2)

 

 

Value

 

 

Footnotes

Medical Devices & Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Coronado Aesthetics, LLC

 

Equity

10/15/2021

Common Units

 

 

180,000

 

 

$

 

 

$

3

 

 

(7)

 

Equity

10/15/2021

Preferred Series A-2

 

 

5,000,000

 

 

 

250

 

 

 

253

 

 

(7)

Total Coronado Aesthetics, LLC

 

 

 

 

 

 

5,180,000

 

 

 

250

 

 

 

256

 

 

 

Flowonix Medical Incorporated

 

Equity

11/3/2014

Preferred Series AA

 

 

221,893

 

 

 

1,500

 

 

 

 

 

 

Gelesis, Inc.

 

Equity

11/30/2009

Common Stock

 

 

1,490,700

 

 

 

871

 

 

 

243

 

 

(4)

ViewRay, Inc.

 

Equity

12/16/2013

Common Stock

 

 

36,457

 

 

 

332

 

 

 

126

 

 

(4)

Subtotal: Medical Devices & Equipment (0.04%)*

 

 

 

 

 

2,953

 

 

 

625

 

 

 

Semiconductors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Achronix Semiconductor Corporation

 

Equity

7/1/2011

Preferred Series C

 

 

277,995

 

 

 

160

 

 

 

296

 

 

 

Subtotal: Semiconductors (0.02%)*

 

 

 

 

 

160

 

 

 

296

 

 

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3GTMS, LLC

 

Equity

8/9/2021

Common Stock

 

 

1,000,000

 

 

 

1,000

 

 

 

911

 

 

 

Black Crow AI, Inc. affiliates

 

Equity

3/24/2021

Preferred Note

 

 

3

 

 

 

2,792

 

 

 

2,793

 

 

(21)

CapLinked, Inc.

 

Equity

10/26/2012

Preferred Series A-3

 

 

53,614

 

 

 

51

 

 

 

 

 

 

Contentful Global, Inc.

 

Equity

12/22/2020

Preferred Series C

 

 

41,000

 

 

 

138

 

 

 

233

 

 

(5)(10)

 

Equity

11/20/2018

Preferred Series D

 

 

108,500

 

 

 

500

 

 

 

660

 

 

(5)(10)

Total Contentful Global, Inc.

 

 

 

 

 

 

149,500

 

 

 

638

 

 

 

893

 

 

 

Docker, Inc.

 

Equity

11/29/2018

Common Stock

 

 

20,000

 

 

 

4,284

 

 

 

545

 

 

 

Druva Holdings, Inc.

 

Equity

10/22/2015

Preferred Series 2

 

 

458,841

 

 

 

1,000

 

 

 

1,639

 

 

 

 

Equity

8/24/2017

Preferred Series 3

 

 

93,620

 

 

 

300