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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
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 |
|
|
|
|