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Senior Secured, Maturity Date September 2027, Prime + 2.70%, Floor rate 8.20%, 6.60% Exit Fee2022-12-310001280784Warrant Investments and Software and Elation Health, Inc., Warrant, Acquisition Date 9/12/2022, Common Stock2023-06-300001280784us-gaap:PrivateEquityFundsForeignMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:DrugDiscoveryAndDevelopmentMember2023-06-300001280784htgc:SMBCFacilityMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784Equity Investments Drug Discovery & Development and BridgeBio Pharma, Inc., Equity, Acquisition Date 6/21/2018, Series Common Stock2023-06-300001280784Equity Investments Information Services (0.58%)2022-12-310001280784Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc. 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Senior Secured, Maturity Date July 2026, Prime + 3.25%, Floor rate 6.75%, PIK Interest 1.05%, 3.55% Exit Fee2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:UnsecuredMemberhtgc:CollateralTypeConcentrationRiskMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:TwoThousandEighteenMemberus-gaap:RestrictedStockMember2018-06-280001280784htgc:DebtInvestmentsMemberhtgc:FlightScheduleProLlcMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784Debt Investments Drug Discovery & Development and Nabriva Therapeutics, Senior Secured, Maturity Date June 2023, Prime + 4.30%, Floor rate 9.80%, 9.95% Exit Fee2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and IngredientWerks Holdings, Inc. 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Acquisition Date 7/22/2015, Series Common Stock2023-06-300001280784Warrant Investments and Consumer & Business Services and Landing Holdings Inc., Warrant, Acquisition Date 3/12/2021, Common Stock2022-12-310001280784Warrant Investments and Software and Cloudian, Inc., Warrant, Acquisition Date 11/6/2018, Common Stock2022-12-310001280784Equity Investments Software, Druva Holdings, Inc.2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:CA2023-01-012023-06-300001280784Debt 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 Fee2023-06-300001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:MUFGBankFacilityMember2022-04-012022-06-300001280784htgc:SMBCFacilityMember2022-04-012022-06-300001280784Debt Investments Sustainable and Renewable Technology (0.50%)2022-12-310001280784Warrant Investments and Consumer & Business Products (0.17%)2022-12-310001280784htgc:CapitalInExcessOfParValueMember2022-03-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300001280784htgc:March2026BNotesMember2021-03-040001280784htgc:OtherInterestIncomeMember2023-01-012023-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Warrant Investments and Software and Brain Corporation, Warrant, Acquisition Date 10/4/2021, Common Stock2023-06-300001280784Investment Funds & Vehicles Investments and Software and Liberty Zim Co-Invest L.P., Investment Funds & Vehicles, Acquisition Date 7/21/20222023-06-300001280784Investment Funds & Vehicles Investments and Software (0.03%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:DashlaneIncorporationMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:AxsomeTherapeuticsIncMember2023-06-300001280784Warrant Investments and Drug Discovery & Development and enGene, Inc., Warrant, Acquisition Date 12/30/2021, Preferred Series 32023-06-300001280784us-gaap:FairValueInputsLevel2Memberhtgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:DividendDeclaredThreeMember2023-01-012023-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:EquityInvestmentsMemberus-gaap:CommonStockMember2022-01-012022-12-310001280784Debt Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Senior Secured, Maturity Date December 2024, PIK Interest 10.00%2022-12-310001280784Warrant Investments and Software and Elation Health, Inc., Warrant, Acquisition Date 9/12/2022, Common Stock2022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-04-012022-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-04-012022-06-300001280784Total Foreign Currency Forward (-0.03%*)2023-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784htgc:June20253YearNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:PerformanceAwardsMember2022-04-012022-06-300001280784Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc. Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2022-12-310001280784Debt Investments Manufacturing Technology and Ouster, Inc. Senior Secured, Maturity Date May 2026, Prime + 6.15%, Floor rate 9.40%, 7.45% Exit Fee2022-12-310001280784Debt 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 Fee2022-12-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 5/23/2018, Series Common Stock2023-06-300001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2022-12-310001280784Debt Investments (199.47%)2022-12-310001280784Investments (196.33%)2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:OakStreetHealthIncMember2023-06-300001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMember2023-01-012023-06-300001280784country:NL2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-06-300001280784Warrant Investments and Software and The Faction Group LLC, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784Equity Investments Drug Delivery and PDS Biotechnology Corporation, Equity, Acquisition Date 4/6/2015, Series Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ElationHealthIncMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784country:US2023-06-300001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2023-06-300001280784htgc:AssetBackedNotesMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:CommunicationsAndNetworkingMember2022-01-012022-12-310001280784htgc:IncludedInCostMember2022-01-012022-12-310001280784Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee2023-06-300001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtMaturingWithinOneYearMember2023-06-300001280784Debt 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 Fee2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784htgc:DeferredFeesMember2022-12-310001280784us-gaap:CommonStockMember2023-03-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date September 2025, Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee2023-06-300001280784htgc:SupplementalDividendMember2023-08-152023-08-150001280784Warrant Investments and Consumer & Business Products and TechStyle, Inc., Warrant, Acquisition Date 7/16/2013, Preferred Series B2023-06-300001280784htgc:SeniorSecuredDebtTwoMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2023-06-300001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784htgc:UnfundedDebtCommitmentsMember2023-01-012023-06-300001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Warrant Investments and Biotechnology Tools and Alamar Biosciences, Inc., Warrant, Acquisition Date 6/21/2022, Preferred Series B2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-01-012022-06-300001280784Equity Investments Information Services (0.34%)2023-06-300001280784Warrant Investments and Information Services and NetBase Solutions, Inc., Warrant, Acquisition Date 8/22/2017, Preferred Series 12022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyThreeTwoThousandAndTwentyOneMember2022-12-310001280784htgc:InvestmentAffiliatedIssuersControlledNotMajorityOwnedMemberhtgc:OtherControlInvestmentsMemberhtgc:SeniorSecuredDebtMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784htgc:MUFGBankFacilityMember2023-06-300001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:BabelStreetMember2023-06-300001280784Debt Investments Software and Mobile Solutions Services, Senior Secured, Maturity Date December 2025, 3-month LIBOR + 9.06%, Floor rate 10.06%2022-12-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784Debt Investments Consumer & Business Services, Veem, Inc.2022-12-310001280784us-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2021-12-310001280784htgc:ConsumerAndBusinessProductsMember2022-12-310001280784Equity Investments Drug Delivery and AcelRx Pharmaceuticals, Inc., Equity, Acquisition Date 12/10/2018, Series Common Stock2023-06-300001280784Equity Investments and Drug Discovery & Development and BridgeBio Pharma, Inc., Equity, Acquisition Date 6/21/2018, Series Common Stock2022-12-310001280784Debt 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 Fee2023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMember2022-12-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMember2023-01-012023-06-300001280784Debt Investments Software and Streamline Healthcare Solutions, Senior Secured, Maturity Date March 2028, 1-month SOFR + 7.25%, Floor rate 8.25%2023-06-300001280784htgc:ValuationRiskMember2023-01-012023-06-300001280784Debt Investments Consumer & Business Services and Veem, Inc. Senior Secured, Maturity Date March 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.50%, 4.50% Exit Fee2022-12-310001280784Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 11/25/2020, Series Preferred Series E2022-12-310001280784htgc:SustainableAndRenewableTechnologyMember2022-12-310001280784htgc:DividendDeclaredEightMember2022-01-012022-12-310001280784Warrant Investments and Drug Discovery & Development and Evofem Biosciences, Inc., Warrant, Acquisition Date 6/11/2014, Common Stock2023-06-300001280784Warrant Investments and Software and Couchbase, Inc., Warrant, Acquisition Date 4/25/2019, Common Stock2023-06-300001280784Warrant Investments and Software and Eigen Technologies Ltd., Warrant, Acquisition Date 4/13/2022, Common Stock2023-06-300001280784htgc:EquityAndWarrantInvestmentsMember2022-01-012022-06-300001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2022-12-310001280784Warrant Investments and Surgical Devices (0.05%)2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:DrugDiscoveryAndDevelopmentMember2022-01-012022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-12-310001280784htgc:June20253YearNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:MacroFabIncorporationMember2023-06-300001280784Warrant Investments and Consumer & Business Products (0.06%)2023-06-300001280784Equity Investments Sustainable and Renewable Technology and Impossible Foods, Inc., Equity, Acquisition Date 5/10/2019, Series Preferred Series E-12022-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-06-300001280784Warrant Investments and Software and VideoAmp, Inc., Warrant, Acquisition Date 1/21/2022, Common Stock2022-12-310001280784Warrant Investments and Electronics & Computer Hardware and 908 Devices, Inc., Warrant, Acquisition Date 3/15/2017, Common Stock2023-06-300001280784us-gaap:ForeignExchangeForwardMember2023-01-012023-06-300001280784Warrant Investments and Drug Delivery (0.00%)2023-06-300001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784htgc:HealthcareServicesOtherMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784htgc:SeniorSecuredDebtMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784Warrant Investments and Drug Discovery & Development and Redshift Bioanalytics, Inc., Warrant, Acquisition Date 3/23/2022, Preferred Series E2023-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2022-01-012022-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:SBADebenturesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Equity Investments Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Equity, Acquisition Date 2/26/2007, Series Common Stock2023-06-300001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 7/14/2015, Series Preferred Series E2022-12-310001280784Debt Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc. Senior Secured, Maturity Date April 2026, Prime + 3.15%, Floor rate 10.15%, 6.35% Exit Fee2023-06-300001280784us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-01-012022-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784htgc:ServiceVestingAwardsMember2023-01-012023-06-300001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 8/24/2017, Series Preferred Series 32023-06-300001280784Debt Investments Consumer & Business Services and Jobandtalent USA, Inc. Senior Secured, Maturity Date February 2025, 1-month SOFR + 8.75%, Floor rate 9.75%, 3.00% Exit Fee2023-06-300001280784country:IEus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:KuraOncologyIncMember2022-12-310001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 10/31/2022, Series Preferred Series C2023-06-300001280784country:DE2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixBNotesMember2022-01-012022-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2023-04-012023-06-300001280784htgc:AppDirectIncorporationMemberhtgc:DebtInvestmentsMember2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MedicalDevicesAndEquipmentMember2023-01-012023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784htgc:SupplementalDividendMember2023-03-092023-03-090001280784htgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:TechnologyMember2023-06-300001280784Debt 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 Fee2022-12-310001280784Debt Investments Drug Discovery & Development and Unity Biotechnology, Inc. Senior Secured, Maturity Date August 2024, Prime + 6.10%, Floor rate 9.35%, 6.25% Exit Fee2023-06-300001280784us-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SBADebenturesMember2022-12-310001280784Debt Investments Consumer & Business Services and Provi, Senior Secured, Maturity Date December 2026, Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee2023-06-300001280784Debt Investments Drug Discovery & Development and Codiak Biosciences, Inc. Senior Secured, Maturity Date October 2025, Prime + 5.00%, Floor rate 8.25%, 5.50% Exit Fee2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:PathaiIncMember2023-06-300001280784Warrant Investments and Manufacturing Technology and Xometry, Inc., Warrant, Acquisition Date 5/9/2018, Common Stock2022-12-310001280784Warrant 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:DividendDeclaredFiveMember2022-01-012022-12-310001280784Warrant Investments and Medical Devices & Equipment and Intuity Medical, Inc., Warrant, Acquisition Date 12/29/2017, Preferred Series B-12022-12-310001280784Equity Investments Consumer & Business Services and Total OfferUp, Inc.2022-12-310001280784Debt 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%2022-12-310001280784Debt 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 Fee2022-12-310001280784htgc:SMBCFacilityMembersrt:MaximumMember2023-06-300001280784htgc:SMBCFacilityMembersrt:MinimumMember2023-01-012023-06-300001280784Warrant Investments and Software and Cloudpay, Inc., Warrant, Acquisition Date 4/10/2018, Preferred Series B2023-06-300001280784htgc:BlackCrowAIIncMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-01-012022-06-300001280784Warrant Investments and Healthcare Services, Other and Vida Health, Inc., Warrant, Acquisition Date 3/28/2022, Common Stock2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:US2023-01-012023-06-300001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2022-01-012022-06-300001280784htgc:June20253YearNotesMember2022-06-230001280784Debt Investments Software and Zimperium, Inc., Senior Secured, Maturity Date May 2027, 3-month SOFR + 8.31%, Floor rate 9.31%2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ProventionBioIncMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 4/20/2020, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:CerosIncorporationMember2022-12-310001280784Equity Investments Software and 3GTMS, LLC, Equity, Acquisition Date 8/9/2021, Series Common Stock2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Debt Investments Manufacturing Technology and Bright Machines, Inc. Senior Secured, Maturity Date April 2025, Prime + 4.00%, Floor rate 9.50%, 5.00% Exit Fee2022-12-310001280784Debt Investments Drug Discovery & Development and Kura Oncology, Inc. Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee2022-12-310001280784htgc:PIKInterestMember2023-04-012023-06-300001280784us-gaap:RevolvingCreditFacilityMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel1Member2022-12-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2023-04-012023-06-300001280784country:GB2023-06-300001280784Debt Investments Software and Khoros (p.k.a Lithium Technologies), Senior Secured, Maturity Date January 2024, 3-month SOFR + 8.00%, Floor rate 9.00%2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtInvestmentsImminentPayoffsMember2022-12-310001280784Warrant Investments and Communications & Networking (0.01%)2022-12-310001280784htgc:GeographicLocationMember2023-01-012023-06-300001280784htgc:DiversifiedFinancialServicesMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Debt Investments Software and Riviera Partners LLC, Senior Secured, Maturity Date April 2027, 6-month SOFR + 7.53%, Floor rate 8.53%2023-06-300001280784Warrant Investments and Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Warrant, Acquisition Date 8/1/2018, Common Stock2022-12-310001280784htgc:DividendDeclaredEightMember2022-11-172022-11-170001280784htgc:DividendDeclaredThreeMember2022-05-242022-05-240001280784Equity Investments Drug Discovery & Development and Axsome Therapeutics, Inc., Equity, Acquisition Date 5/9/2022, Series Common Stock2022-12-310001280784Equity Investments Consumer & Business Services and Oportun, Equity, Acquisition Date 6/28/2013, Series Common Stock2022-12-310001280784Equity Investments Medical Devices & Equipment and ViewRay, Inc., Equity, Acquisition Date 12/16/2013, Series Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Century Therapeutics, Inc. Senior Secured, Maturity Date April 2024, Prime + 6.30%, Floor rate 9.55%, 3.95% Exit Fee2022-12-310001280784Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 1-month SOFR + 7.89%, Floor rate 8.89%2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2023-06-300001280784htgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784htgc:January2027NotesMember2022-01-202022-01-200001280784Warrant Investments and Software and Automation Anywhere, Inc., Warrant, Acquisition Date 9/23/2022, Common Stock2022-12-310001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 11/20/2018, Series Preferred Series D2022-12-3100012807842023-03-090001280784htgc:SpilloveramountpershareMember2023-06-300001280784Debt Investments Manufacturing Technology and MacroFab, Inc. Senior Secured, Maturity Date March 2026, Prime + 4.35%, Floor rate 7.60%, PIK Interest 1.25%, 4.50% Exit Fee2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784htgc:DistributableEarningsLossMember2022-01-012022-06-300001280784htgc:OtherMemberus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMember2022-04-012022-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMember2022-04-012022-06-300001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2023-06-300001280784htgc:SBADebenturesIssuedOnDecemberTwentyTwoThousandAndTwentyOneMember2022-12-310001280784Warrant Investments and Software and CloudBolt Software, Inc., Warrant, Acquisition Date 9/30/2020, Common Stock2023-06-300001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:ProventionBioIncMember2023-06-300001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Debt Investments Software and Babel Street, Senior Secured, Maturity Date December 2027, 3-month SOFR + 7.89%, Floor rate 8.89%2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMember2022-01-012022-06-300001280784htgc:TwoThousandThirtyThreeNotesMember2023-06-300001280784Equity Investments Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Equity, Acquisition Date 9/13/2012, Series Preferred Series C-12022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AxsomeTherapeuticsIncMember2022-12-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784Debt Investments Software and Catchpoint Systems, Inc., Senior Secured, Maturity Date June 2026, 1-month SOFR + 8.76%, Floor rate 9.76%2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:MobileSolutionsServicesMember2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784Equity Investments Consumer & Business Services and Reischling Press, Inc., Acquisition Date 7/31/2020, Series Common Stock2023-06-300001280784Equity Investments Diversified Financial Services and Hercules Adviser LLC, Equity, Acquisition Date 3/1/2018, Series Member Units2023-06-300001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMember2023-06-300001280784Warrant Investments and Drug Delivery and PDS Biotechnology Corporation, Warrant, Acquisition Date 8/28/2014, Common Stock2022-12-310001280784htgc:DiversifiedFinancialServicesMember2022-12-310001280784Equity Investments Consumer & Business Products and Grove Collaborative, Inc., Equity, Acquisition Date 4/30/2021, Series Common Stock2023-06-300001280784Debt 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%, 5.30% Exit Fee2023-06-300001280784htgc:OtherInterestIncomeMember2022-04-012022-06-300001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 12/11/2020, Series Preferred Series B2023-06-300001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt Investments Drug Discovery & Development and Kura Oncology, Inc. Senior Secured, Maturity Date November 2027, Prime + 2.40%, Floor rate 8.65%, 15.13% Exit Fee2023-06-300001280784us-gaap:UnsecuredDebtMember2022-12-310001280784htgc:ConsumerAndBusinessServicesMember2023-06-300001280784Equity Investments Consumer & Business Products (0.02%)2023-06-300001280784Debt Investments Software and Constructor Corporation, Senior Secured, Maturity Date July 2027, 1-month SOFR + 8.44%, Floor rate 9.44%2023-06-300001280784Warrant Investments and Information Services and Capella Space Corp., Warrant, Acquisition Date 10/21/2021, Common Stock2023-06-300001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 11/14/2022, Common Stock2023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueOtherMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:RivieraPartnersLLCMember2022-12-310001280784Warrant Investments and Communications & Networking and Spring Mobile Solutions, Inc., Warrant, Acquisition Date 4/19/2013, Common Stock2022-12-310001280784htgc:SBADebenturesMember2022-12-310001280784Debt Investments Drug Discovery & Development and Scynexis, Inc. Senior Secured, Maturity Date March 2025, Prime + 5.80%, Floor rate 9.05%, 3.95% Exit Fee2022-12-310001280784Warrant Investments and Software and DroneDeploy, Inc., Warrant, Acquisition Date 6/30/2022, Common Stock2022-12-310001280784Debt Investments Software and ThreatConnect, Inc., Senior Secured, Maturity Date May 2026, 6-month SOFR + 9.00%, Floor rate 10.00%2023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Equity Investments Drug Discovery & Development and Gritstone Bio, Inc., Equity, Acquisition Date 10/26/2022, Series Common Stock2023-06-300001280784Debt 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 Fee2022-12-310001280784us-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2021-12-310001280784Warrant Investments and Drug Discovery & Development and Albireo Pharma, Inc., Warrant, Acquisition Date 6/8/2020, Common Stock2022-12-310001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024, FIXED 8.25%2023-06-300001280784htgc:DiversifiedFinancialServicesMember2023-06-300001280784Warrant Investments and Diversified Financial Services (0.01%)2023-06-300001280784Debt Investments Software and Imperva, Inc., Senior Secured, Maturity Date January 2027, 3-month LIBOR + 7.75%, Floor rate 8.75%2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:GB2023-01-012023-06-300001280784Equity Investments Drug Discovery & Development and Rocket Pharmaceuticals, Ltd., Equity, Acquisition Date 8/22/2007, Series Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and AmplifyBio, LLC, Senior Secured, Maturity Date January 2027, Prime + 2.50%, Floor rate 9.50%, Cap rate 10.75%, 5.85% Exit Fee2023-06-300001280784htgc:PerformanceVestingAwardsMember2022-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784Equity Investments Software and Palantir Technologies, Equity, Acquisition Date 9/23/2020, Series Common Stock2023-06-300001280784Debt 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%2023-06-300001280784htgc:June2025NotesMember2020-06-030001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:InformationServicesMember2023-01-012023-06-300001280784Debt Investments Software and Automation Anywhere, Inc. Senior Secured, Maturity Date September 2027, Prime + 4.25%, Floor rate 9.00%, 2.50% Exit Fee2023-06-300001280784Debt Investments Drug Discovery & Development and Cellarity, Inc. Senior Secured, Maturity Date June 2026, Prime + 5.70%, Floor rate 8.95%, 3.75% Exit Fee2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMembersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-04-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ShadowDragonLLCMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:FebruaryTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:SupplementalDividendMember2023-08-220001280784htgc:SMBCFacilityMember2022-01-012022-06-300001280784Warrant Investments and Software and Dashlane, Inc., Warrant, Acquisition Date 3/11/2019, Common Stock2022-12-310001280784Equity Investments Electronics & Computer Hardware and Skydio, Inc., Equity, Acquisition Date 3/8/2022, Series Preferred Series E2023-06-300001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784Equity Investments Diversified Financial Services and Newfront Insurance Holdings, Inc., Equity, Acquisition Date 9/30/2021, Series Preferred Series D-22023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:CutoverIncMember2022-12-310001280784Warrant Investments and Software and Tact.ai Technologies, Inc., Warrant, Acquisition Date 2/13/2020, Common Stock2023-06-300001280784Debt 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 Electronics & Computer Hardware (0.07%)2023-06-300001280784Debt Investments Drug Discovery & Development and Valo Health, LLC, Senior Secured, Maturity Date May 2024, Prime + 6.45%, Floor rate 9.70%, 3.85% Exit Fee2023-06-300001280784Equity Investments Consumer & Business Services and Total OfferUp, Inc.2023-06-300001280784Debt 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 Fee2022-12-310001280784Warrant Investments and Medical Devices & Equipment and Intuity Medical, Inc., Warrant, Acquisition Date 12/29/2017, Preferred Series B-12023-06-300001280784htgc:AcceleratedFeeIncomeExpiredCommitmentsMember2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development (78.59%)2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Debt Investments Drug Discovery & Development and Aldeyra Therapeutics, Inc. Senior Secured, Maturity Date October 2024, Prime + 3.10%, Floor rate 8.60%, 8.90% Exit Fee2022-12-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund I C.V., Investment Funds & Vehicles, Acquisition Date 11/16/20202022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:IL2022-01-012022-12-310001280784htgc:SBADebenturesIssuedOnJanuaryTwentyOneTwoThousandAndTwentyTwoMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:G1TherapeuticsIncMember2023-06-300001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SBADebenturesMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:MacroFabIncorporationMember2022-12-310001280784htgc:ZappiIncMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:RVShareLimitedLiabilityCompanyMember2022-12-310001280784Warrant Investments and Information Services and NetBase Solutions, Inc., Warrant, Acquisition Date 8/22/2017, Preferred Series 12023-06-300001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 5/23/2018, Series Common Stock2022-12-310001280784htgc:PerformanceDeuMember2023-01-012023-06-300001280784Investments in Securities (196.05%)2023-06-300001280784Debt 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 Fee2023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:DistributableEarningsLossMember2023-01-012023-06-300001280784Equity Investments Software and HighRoads, Inc., Equity, Acquisition Date 1/18/2013, Series Common Stock2023-06-300001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:OneMonthLIBORMember2023-06-300001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2023-01-012023-06-300001280784Debt Investments Consumer & Business Services and Provi, Senior Secured, Maturity Date December 2026, Prime + 4.40%, Floor rate 10.65%, 2.95% Exit Fee2022-12-310001280784nvestment Funds & Vehicles Investments and Software and Liberty Zim Co-Invest L.P., Investment Funds & Vehicles, Acquisition Date 7/21/20222022-12-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784Warrant Investments and Information Services and Signal Media Limited, Warrant, Acquisition Date 6/29/2022, Common Stock2023-06-300001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A-12023-06-300001280784htgc:DividendDeclaredThreeMember2022-01-012022-12-310001280784Debt Investments Drug Discovery & Development and Eloxx Pharmaceuticals, Inc. Senior Secured, Maturity Date April 2025, Prime + 6.25%, Floor rate 9.50%, 6.55% Exit Fee2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:CommunicationsAndNetworkingMember2023-01-012023-06-300001280784htgc:June20253YearNotesMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:WarrantInvestmentMember2023-01-012023-06-300001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 6/16/2010, Series Preferred Series C2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AgilenceIncorporationMember2023-06-300001280784us-gaap:InvestmentUnaffiliatedIssuerMember2022-01-012022-06-300001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc., Senior Secured, Maturity Date August 2026, 6-month SOFR + 8.38%, Floor rate 9.38%2023-06-300001280784us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:GB2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:TipaltiSolutionsLtdMember2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784Debt 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 Fee2022-12-310001280784Debt 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%2022-12-310001280784Warrant Investments and Drug Discovery & Development and Dermavant Sciences Ltd., Warrant, Acquisition Date 5/31/2019, Common Stock2023-06-300001280784Warrant Investments and Software and Poplicus, Inc., Warrant, Acquisition Date 5/28/2014, Common Stock2022-12-310001280784Warrant Investments and Drug Discovery & Development and Valo Health, LLC, Warrant, Acquisition Date 6/15/2020, Common Units2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784htgc:TwoThousandThirtyThreeNotesMember2022-04-012022-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2023-04-012023-06-300001280784htgc:AdviserFundsMember2023-06-300001280784htgc:JanuaryTwoThousandTwentySevenNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-3000012807842022-12-310001280784htgc:SeniorSecuredDebtOneMemberhtgc:OtherControlInvestmentsMemberhtgc:ConsumerAndBusinessServicesMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784 Warrant Investments and Drug Discovery & Development and AmplifyBio, LLC, Warrant, Acquisition Date 12/27/2022, Class A Units2023-06-300001280784htgc:SBADebenturesIssuedOnNovemberThirtyTwoThousandAndTwentyOneMember2023-06-300001280784htgc:MUFGBankFacilityMember2023-01-012023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixANotesMember2022-01-012022-06-300001280784htgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Equity Investments Drug Discovery & Development and HilleVax, Inc, Equity, Acquisition Date 5/3/2022, Series Common Stock2023-06-300001280784Warrant Investments and Drug Discovery & Development and Tricida, Inc., Warrant, Acquisition Date 3/27/2019, Common Stock2022-12-310001280784Debt Investments Consumer & Business Services and AppDirect, Inc. Senior Secured, Maturity Date April 2026, Prime + 5.50%, Floor rate 8.75%, 7.12% Exit Fee2023-06-300001280784Warrant Investments and Software and Mixpanel, Inc., Warrant, Acquisition Date 9/30/2020, Common Stock2023-06-300001280784Foreign Currency Exchange Contracts Counterparty Goldman Sachs Bank USA Settlement Date 6/3/20242023-06-300001280784htgc:DebtInvestmentsMemberhtgc:HilleVaxIncMember2023-06-300001280784htgc:SixMonthLIBORMember2023-06-300001280784Equity Investments Drug Discovery & Development and Dare Biosciences, Inc., Equity, Acquisition Date 1/8/2015, Series Common Stock2022-12-310001280784Equity Investments Software and Docker, Inc., Equity, Acquisition Date 11/29/2018, Series Common Stock2022-12-310001280784country:CA2022-12-310001280784htgc:SBADebenturesIssuedOnJulyTwentyEightTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784country:NLus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2022-12-310001280784htgc:TwoThousandTwentyTwoConvertibleNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784Warrant Investments and Communications & Networking and Aryaka Networks, Inc., Warrant, Acquisition Date 6/28/2022, Common Stock2022-12-310001280784htgc:PerformanceVestingAwardsMember2023-01-012023-06-3000012807842023-01-012023-06-300001280784Investment Funds & Vehicles Investments and Software (0.02%)2023-06-300001280784htgc:MUFGBankFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:SBADebenturesIssuedOnNovemberOneTwoThousandAndTwentyOneMember2022-12-310001280784Warrant Investments and Consumer & Business Services and SeatGeek, Inc., Warrant, Acquisition Date 6/12/2019, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:LeapworkApsMember2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:OmedaHoldingsLlcMember2022-12-3100012807842022-04-012022-06-300001280784Warrant Investments and Drug Discovery & Development and enGene, Inc., Warrant, Acquisition Date 12/30/2021, Preferred Series 32022-12-310001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2022-04-012022-06-300001280784Warrant Investments and Software and Eigen Technologies Ltd., Warrant, Acquisition Date 4/13/2022, Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and Applied Molecular Transport, Equity, Acquisition Date 4/6/2021, Series Common Stock2022-12-310001280784htgc:MUFGBankFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784Debt Investments Software and Ikon Science Limited, Senior Secured, Maturity Date October 2024, 3-month Eurodollar + 9.00%, Floor rate 10.00%2023-06-300001280784country:DE2022-12-310001280784htgc:TwoThousandTwentyTwoConvertibleNotesMember2022-04-012022-06-300001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-06-300001280784Debt Investments Software and Nuvolo Technologies Corporation, Senior Secured, Maturity Date July 2026, Prime + 5.25%, Floor rate 8.50%, 2.42% Exit Fee2023-06-300001280784Warrant Investments and Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Warrant, Acquisition Date 8/1/2018, Common Stock2023-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:MarchTwoThousandTwentySixANotesMember2022-12-310001280784Investment Funds & Vehicles Investments and Drug Discovery & Development and Forbion Growth Opportunities Fund I C.V., Investment Funds & Vehicles, Acquisition Date 11/16/20202023-06-300001280784Debt Investments Drug Discovery & Development and Redshift Bioanalytics, Inc. Senior Secured, Maturity Date January 2026, Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee2022-12-310001280784us-gaap:SalesRevenueNetMemberus-gaap:UnsecuredDebtMemberhtgc:InvestmentTypeConcentrationRiskMember2023-01-012023-06-3000012807842022-01-012022-06-300001280784Equity Investments Drug Discovery & Development, Valo Health LLC2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:JanuaryTwoThousandTwentySevenNotesMember2022-04-012022-06-300001280784Warrant Investments and Consumer & Business Services and Udacity, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784htgc:PerformanceVestingAwardsMember2023-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandTwentyTwoNotesMember2022-01-012022-06-300001280784htgc:June20253YearNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784htgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development and Iveric Bio, Inc. 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Senior Secured, Maturity Date August 2025, Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee2023-06-300001280784Equity Investments Consumer & Business Products and TechStyle, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2023-06-300001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 12/18/2018, Series Preferred Series F2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMember2023-01-012023-06-300001280784htgc:SMBCFacilityMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784htgc:HerculesCapitalFourLPMember2022-01-012022-12-3100012807842023-03-310001280784Debt 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%2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-04-012023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784htgc:AssetBackedNotesMember2023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:AlchemerLLCMember2022-12-310001280784htgc:DebtInvestmentMember2023-01-012023-06-300001280784htgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2022-06-300001280784Equity Investments Drug Discovery & Development and Aveo Pharmaceuticals, Inc., Equity, Acquisition Date 7/31/2011, Series Common Stock2022-12-310001280784htgc:JanuaryTwoThousandTwentySevenNotesMember2022-04-012022-06-300001280784htgc:ForbionGrowthOpportunitiesFundICVMemberhtgc:InvestmentFundsAndVehiclesMember2023-06-300001280784htgc:February2025NotesMember2020-02-050001280784htgc:CoronadoAestheticsLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:MedicalDevicesAndEquipmentMemberus-gaap:SeriesAPreferredStockMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784htgc:OtherMember2023-06-300001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 11/14/2022, Common Stock2022-12-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2022-12-310001280784htgc:DeferredFeesMember2023-06-300001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2022-01-012022-06-300001280784Equity Investments Drug Discovery & Development and Albireo Pharma, Inc., Equity, Acquisition Date 9/14/2020, Series Common Stock2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Information Services (0.03%)2023-06-300001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2022-04-012022-06-300001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784Equity Investments Software and SingleStore, Inc., Equity, Acquisition Date 8/12/2021, Series Preferred Series F2023-06-300001280784Warrant Investments and Consumer & Business Services (0.20%)2023-06-300001280784Debt Investments Software and Zappi, Inc., Senior Secured, Maturity Date December 2027, 3-month SOFR + 8.03%, Floor rate 9.03%2023-06-300001280784Debt Investments Software and Catchpoint Systems, Inc., Senior Secured, Maturity Date June 2026, 3-month SOFR + 8.86%, Floor rate 9.76%2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:US2022-01-012022-12-310001280784Debt 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:LiabilityClassifiedAwardsMember2022-06-300001280784Debt Investments Electronics & Computer Hardware and Locus Robotics Corp. Senior Secured, Maturity Date June 2026, Prime + 4.50%, Floor rate 8.00%, 1.00% Exit Fee2023-06-300001280784htgc:OtherControlInvestmentsMemberhtgc:ConsumerAndBusinessServicesMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:PreferredSeriesBBMemberhtgc:TecturaCorporationMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Lendio, Inc., Warrant, Acquisition Date 3/29/2019, Preferred Series D2022-12-310001280784htgc:SurgicalDevicesMember2022-12-310001280784htgc:HerculesCapitalFourLPMember2022-12-310001280784Warrant Investments and Software and Couchbase, Inc., Warrant, Acquisition Date 4/25/2019, Common Stock2022-12-310001280784Warrant Investments and Drug Delivery and Aerami Therapeutics Holdings, Inc., Warrant, Acquisition Date 9/30/2015, Common Stock2023-06-300001280784Debt Investments Drug Discovery & Development and enGene, Inc. Senior Secured, Maturity Date July 2025, Prime + 5.00%, Floor rate 8.25%, 6.35% Exit Fee2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Debt Investments Software and Dispatch Technologies, Inc., Senior Secured, Maturity Date April 2028, 3-month SOFR + 8.01%, Floor rate 8.76%2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2021-12-310001280784us-gaap:WarrantMemberus-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:WarrantInvestmentMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784Warrant Investments and Manufacturing Technology and Bright Machines, Inc., Warrant, Acquisition Date 3/31/2022, Common 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Stock2022-12-310001280784us-gaap:CommonStockMember2023-04-012023-06-300001280784htgc:ThreeMonthLIBORMember2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784htgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784htgc:OtherInterestIncomeMember2023-04-012023-06-300001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-06-300001280784Warrant Investments and Drug Discovery & Development and COMPASS Pathways plc, Warrant, Acquisition Date 6/30/2023, Ordinary 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Senior Secured, Maturity Date October 2026, 1-month BSBY + 9.00%, Floor rate 10.00%2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SoftwareMember2023-01-012023-06-300001280784htgc:MUFGBankFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Warrant Investments and Software and SingleStore, Inc., Warrant, Acquisition Date 4/28/2020, Preferred Series D2022-12-310001280784htgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 6/6/2016, Series Preferred Series BB2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:UnsecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784Warrant Investments and Biotechnology Tools and PathAI, Inc., Warrant, Acquisition Date 12/23/2022, Common Stock2023-06-300001280784htgc:SBADebenturesIssuedOnMarchTwentySixTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784us-gaap:SalesRevenueNetMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:SeniorSecuredDebtMember2022-01-012022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ViridianTherapeuticsIncMember2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 12/22/2020, Series Preferred Series C2023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784Equity Investments Drug Delivery and BioQ Pharma Incorporated, Equity, Acquisition Date 12/8/2015, Series Preferred Series D2022-12-310001280784htgc:BiotechnologyToolsMember2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:CA2022-01-012022-12-310001280784htgc:MUFGBankFacilityMember2022-12-310001280784htgc:HerculesAdviserLLCMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:DebtInvestmentsImminentPayoffsMember2023-06-300001280784htgc:FeverLabsIncMemberhtgc:DebtInvestmentsMember2023-06-300001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Warrant Investments and Sustainable and Renewable Technology and Polyera Corporation, Warrant, Acquisition Date 3/24/2015, Preferred Series C2023-06-300001280784Debt Investments Communications & Networking and Aryaka Networks, Inc. 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Senior Secured, Maturity Date April 2026, Prime + 4.95%, Floor rate 8.20%, PIK Interest 1.50%, 3.95% Exit Fee2022-12-310001280784Warrant Investments and Software and Lightbend, Inc., Warrant, Acquisition Date 2/14/2018, Preferred Series D2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:FortifiedHealthSecurityMember2022-12-310001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2023-06-300001280784htgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784htgc:June20253YearNotesMember2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DE2022-01-012022-12-310001280784Equity Investments Drug Delivery (0.01%)2022-12-310001280784Debt Investments Software and Annex Cloud, Senior Secured, Maturity Date February 2027, 1-month BSBY + 8.99%, Floor rate 10.00%2022-12-310001280784us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001280784Warrant Investments and Drug Delivery and PDS Biotechnology Corporation, Warrant, Acquisition Date 8/28/2014, Common Stock2023-06-300001280784Debt 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 Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Common Units2022-12-310001280784htgc:RecurringFeeIncomeMember2022-04-012022-06-300001280784Warrant Investments and Consumer & Business Services and Veem, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2022-12-310001280784htgc:SurgicalDevicesMember2023-06-300001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 8/24/2017, Series Preferred Series 32022-12-310001280784htgc:January2027NotesMember2023-01-012023-06-300001280784Equity Investments Electronics & Computer Hardware (0.11%)2022-12-310001280784htgc:SBADebenturesIssuedOnAugustTwentyTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784Warrant Investments and Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Warrant, Acquisition Date 5/9/2022, Common Stock2022-12-310001280784htgc:AssetBackedNotesMember2023-01-012023-06-300001280784htgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Debt Investments Software and Annex Cloud, Senior Secured, Maturity Date February 2027, 1-month BSBY + 8.99%, Floor rate 9.99%2023-06-300001280784htgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:MemberUnitsMember2023-06-300001280784htgc:PIKInterestMember2022-04-012022-06-300001280784htgc:CybermaxxIntermediateHoldingsIncorporationMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ThreatConnectIncMember2023-06-300001280784htgc:SBADebenturesIssuedOnJulyTwentyEightTwoThousandAndTwentyOneMember2023-06-300001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2023-06-300001280784us-gaap:CommonStockMember2022-01-012022-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-12-310001280784Equity Investments Healthcare Services, Other (0.21%)2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784htgc:SmbcLcFacilityMember2023-06-300001280784Debt Investments Communications & Networking (6.64%)2023-06-300001280784Equity Investments Sustainable and Renewable Technology (0.57%)2022-12-310001280784Debt Investments Software and LogicSource, Senior Secured, Maturity Date July 2027, 3-month SOFR + 8.93%, Floor rate 9.93%2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-06-300001280784Debt Investments Software and Campaign Monitor Limited, Senior Secured, Maturity Date November 2025, 6-month SOFR + 8.90%, Floor rate 9.90%2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:PathaiIncMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date May 2026, Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%2022-12-310001280784Warrant Investments and Consumer & Business Products and Whoop, Inc., Warrant, Acquisition Date 6/27/2018, Preferred Series C2022-12-310001280784htgc:LiabilityClassifiedAwardsMember2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc. Senior Secured, Maturity Date January 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee2023-06-300001280784Warrant Investments and Consumer & Business Services and Carwow LTD, Warrant, Acquisition Date 12/14/2021, Common Stock2023-06-300001280784Warrant Investments and Drug Discovery & Development and Valo Health, LLC, Warrant, Acquisition Date 6/15/2020, Common Units2023-06-300001280784Warrant Investments and Software and Dashlane, Inc., Warrant, Acquisition Date 3/11/2019, Common Stock2023-06-300001280784Warrant Investments and Consumer & Business Services and Rhino Labs, Inc., Warrant, Acquisition Date 3/12/2021, Common Stock2023-06-300001280784htgc:ElectronicsComputerHardwareMember2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-06-300001280784Equity Investments Electronics & Computer Hardware and Locus Robotics Corp., Equity, Acquisition Date 11/17/2022, Series Preferred Series F2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2022-04-012022-06-300001280784Foreign Currency Exchange Contracts Counterparty Goldman Sachs Bank USA Settlement Date 6/3/20242023-01-012023-06-300001280784htgc:RoyaltyContractMemberhtgc:PhathomPharmaceuticalsIncMember2023-06-300001280784Debt Investments Consumer & Business Services and SeatGeek, Inc., Senior Secured, Maturity Date May 2026, Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.05%, 1.00% Exit Fee2023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2023-06-300001280784Warrant Investments and Semiconductors and Achronix Semiconductor Corporation, Warrant, Acquisition Date 6/26/2015, Preferred Series D-22023-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-06-300001280784htgc:PerformanceVestingAwardMember2022-01-012022-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:July2024NotesMember2023-01-012023-06-300001280784Warrant Investments and Software and Poplicus, Inc., Warrant, Acquisition Date 5/28/2014, Common Stock2023-06-300001280784htgc:February2025NotesMember2023-01-012023-06-300001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2023-06-300001280784htgc:SBADebenturesIssuedOnJanuaryFourteenTwoThousandAndTwentyTwoMember2023-06-300001280784htgc:MediaContentInfoMember2023-06-300001280784htgc:DividendDeclaredTwoMember2023-01-012023-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:SupplementalDividendMember2023-08-222023-08-220001280784htgc:DebtInvestmentsMemberhtgc:DronedeployIncorporationMember2023-06-300001280784htgc:MUFGBankFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandTwentyTwoNotesMember2022-04-012022-06-300001280784htgc:SBADebenturesMember2022-01-012022-06-300001280784Debt Investments Manufacturing Technology and Ouster, Inc. Senior Secured, Maturity Date May 2026, Prime + 6.15%, Floor rate 9.40%, 7.45% Exit Fee2023-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784Debt Investments Drug Discovery & Development and Hibercell, Inc. Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee2023-06-300001280784htgc:OtherMember2022-12-310001280784htgc:KhorosPKLithiumTechnologiesMemberhtgc:DebtInvestmentsMember2022-12-310001280784Warrant Investments and Drug Discovery & Development and Kura Oncology, Inc., Warrant, Acquisition Date 11/2/2022, Common Stock2022-12-310001280784Equity Investments Sustainable and Renewable Technology and NantEnergy, LLC, Equity, Acquisition Date 8/31/2013, Series Common Units2023-06-300001280784htgc:InformationServicesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:DronedeployIncorporationMember2022-12-310001280784Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Series Preferred Series C2023-06-300001280784us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-06-300001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784htgc:AdviserSubsidiaryMember2023-06-300001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784Debt Investments Consumer & Business Services (30.59%)2022-12-310001280784Debt Investments Drug Discovery & Development and uniQure B.V. Senior Secured, Maturity Date December 2025, Prime + 4.70%, Floor rate 7.95%, 6.10% Exit Fee2023-06-300001280784htgc:DeferredFeesMember2023-01-012023-06-300001280784Warrant Investments and Medical Devices & Equipment and Outset Medical, Inc., Warrant, Acquisition Date 9/27/2013, Common Stock2023-06-300001280784Debt Investments Manufacturing Technology and Bright Machines, Inc. Senior Secured, Maturity Date April 2025, Prime + 4.00%, Floor rate 9.50%, 5.00% Exit Fee2023-06-300001280784htgc:SeniorSecuredDebtTwoMemberhtgc:ConsumerAndBusinessServicesMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784Warrant Investments and Information Services and INMOBI Inc., Warrant, Acquisition Date 11/19/2014, Common Stock2022-12-310001280784htgc:ConsumerAndBusinessServicesMemberhtgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-12-310001280784htgc:ModernLifeIncMemberhtgc:DebtInvestmentsMember2023-06-300001280784Debt Investments Software and Dispatch Technologies, Inc., Senior Secured, Maturity Date April 2028, 3-month SOFR + 8.01%, Floor rate 8.76%2023-06-300001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024 One, PIK Interest 5.00%2023-06-300001280784us-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:January2027NotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784htgc:CapitalInExcessOfParValueMember2022-04-012022-06-300001280784Debt Investments Drug Discovery & Development and Redshift Bioanalytics, Inc. Senior Secured, Maturity Date January 2026, Prime + 4.25%, Floor rate 7.50%, 3.80% Exit Fee2023-06-300001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Equity Investments Information Services and Yipit, LLC, Equity, Acquisition Date 12/30/2021, Series Preferred Series E2022-12-310001280784Debt Investments Software and Campaign Monitor Limited, Senior Secured, Maturity Date November 2025, 3-month SOFR + 8.90%, Floor rate 9.90%2023-06-300001280784Equity Investments Drug Discovery & Development and Applied Molecular Transport, Equity, Acquisition Date 4/6/2021, Series Common Stock2023-06-300001280784Warrant Investments and Surgical Devices (0.04%)2022-12-310001280784htgc:DividendDeclaredOneMember2022-01-012022-12-310001280784htgc:BaseDividendMember2023-08-222023-08-220001280784us-gaap:InvestmentAffiliatedIssuerMember2021-12-310001280784htgc:BlackCrowAIIncMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-06-300001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Drug Discovery & Development and Kineta, Inc., Warrant, Acquisition Date 12/20/2019, Common Stock2023-06-300001280784htgc:ExitFeeMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc.2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:UnsecuredDebtOneMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-12-310001280784htgc:DistributableEarningsLossMember2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784Equity Investments Surgical Devices (0.18%)2022-12-310001280784Equity Investments Drug Discovery & Development and Concert Pharmaceuticals, Inc., Equity, Acquisition Date 2/13/2019, Series Common Stock2022-12-310001280784htgc:JulyTwoThousandTwentyFourNotesMember2023-04-012023-06-300001280784us-gaap:InvestmentUnaffiliatedIssuerMember2022-04-012022-06-300001280784Equity Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Equity, Acquisition Date 3/1/2018, Series Common Stock2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2023-06-300001280784htgc:AffiliateInvestmentsMember2022-06-300001280784Equity Investments Diversified Financial Services (2.49%)2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Consumer & Business Products and Whoop, Inc., Warrant, Acquisition Date 6/27/2018, Preferred Series C2023-06-300001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc.2023-06-300001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AryakaNetworksIncMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMemberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2023-06-300001280784htgc:PerformanceDeuMember2022-01-012022-06-300001280784htgc:NotesMember2023-06-300001280784Warrant Investments and Software (0.59%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784htgc:HealthcareServicesOtherMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784htgc:SBADebenturesIssuedOnNovemberThirtyTwoThousandAndTwentyOneMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:BabelStreetMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2023-06-300001280784Warrant Investments and Software and Sisense Ltd., Warrant, Acquisition Date 6/28/2023, Ordinary Shares2023-06-300001280784Debt Investments Healthcare Services, Other and Blue Sprig Pediatrics, Inc. Senior Secured, Maturity Date November 2026, 1-month SOFR + 5.00%, Floor rate 6.00%, PIK Interest 4.45%2023-06-300001280784Warrant Investments and Software and SingleStore, Inc., Warrant, Acquisition Date 4/28/2020, Preferred Series D2023-06-300001280784htgc:FebruaryTwoThousandTwentyFiveNotesMember2022-01-012022-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2023-06-300001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784us-gaap:EmployeeStockOptionMember2023-01-012023-06-300001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2022-01-012022-06-300001280784us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-06-300001280784Debt Investments Consumer & Business Services and Houzz, Inc. Convertible Debt, Maturity Date May 2028, PIK Interest 5.50%2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784Warrant Investments and Surgical Devices and Gynesonics, Inc., Warrant, Acquisition Date 1/16/2013, Preferred Series C2022-12-310001280784htgc:SBADebenturesIssuedOnDecemberTwentyTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784us-gaap:RestrictedStockMemberhtgc:DirectorPlanMember2018-06-280001280784htgc:June2025NotesMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:NextInsuranceIncMember2022-12-310001280784htgc:LastOutWithSecurityInterestInAllOfTheAssetsMemberus-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SeniorSecuredFirstLienMember2023-01-012023-06-300001280784Warrant Investments and Consumer & Business Services and Skyword, Inc.2023-06-300001280784Warrant Investments and Medical Devices & Equipment and Tela Bio, Inc., Warrant, Acquisition Date 3/31/2017, Common Stock2023-06-300001280784Debt Investments Consumer & Business Services and Veem, Inc. Senior Secured, Maturity Date March 2025, Prime + 4.70%, Floor rate 7.95%, PIK Interest 1.50%, 4.50% Exit Fee2023-06-300001280784htgc:IncludedInCostMember2022-12-310001280784htgc:July2024NotesMember2023-06-300001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date September 2026, Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee2023-06-300001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A2023-06-300001280784htgc:OtherMemberus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784htgc:SBADebenturesIssuedOnJanuaryFourteenTwoThousandAndTwentyTwoMember2023-01-012023-06-300001280784Debt 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%, 4.32% Exit Fee2023-06-300001280784htgc:SMBCFacilityMember2023-01-012023-06-300001280784Equity Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Equity, Acquisition Date 12/10/2020, Series Common Stock2023-06-300001280784htgc:CapitalInExcessOfParValueMember2023-03-310001280784us-gaap:WarrantMemberhtgc:WarrantInvestmentMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784Debt 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:KhorosPKLithiumTechnologiesMemberhtgc:DebtInvestmentsMember2023-06-300001280784htgc:DividendDeclaredFiveMember2022-08-162022-08-160001280784Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Common Units2023-06-300001280784Debt Investments Media/Content/Info and Fever Labs, Inc.2023-06-300001280784htgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-04-012023-06-300001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DK2023-01-012023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMember2023-01-012023-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784us-gaap:FairValueInputsLevel2Memberhtgc:TwoThousandThirtyThreeNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784htgc:SeniorSecuredDebtMember2023-06-300001280784Debt Investments Software and Eigen Technologies Ltd., Senior Secured, Maturity Date April 2025, Prime + 5.10%, Floor rate 8.35%, 2.95% Exit Fee2023-06-300001280784Debt Investments Electronics & Computer Hardware and Locus Robotics Corp. Senior Secured, Maturity Date June 2026, Prime + 4.50%, Floor rate 8.00%, 1.00% Exit Fee2022-12-310001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2023-06-300001280784htgc:SignificantPortfolioInvestmentMember2023-01-012023-06-300001280784htgc:ConsumerAndBusinessProductsMember2023-06-300001280784Debt Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc. Senior Secured, Maturity Date July 2024, Prime + 3.75%, Floor rate 8.75%, 8.80% Exit Fee2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Drug Discovery & Development and ADMA Biologics, Inc., Warrant, Acquisition Date 2/24/2014, Common Stock2023-06-300001280784htgc:SignalMediaLimitedMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:FulfilSolutionsIncMember2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2022-12-310001280784Debt 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:JulyTwoThousandTwentyFourNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/08/2021, Common Stock2023-06-300001280784htgc:CommonGrossProceedsMember2023-01-012023-06-300001280784htgc:DividendDeclaredSixMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ConstructorIoCorporationMember2022-12-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-04-012023-06-300001280784Equity Investments Sustainable and Renewable Technology (0.33%)2023-06-300001280784htgc:SBADebenturesMember2023-01-012023-06-300001280784us-gaap:InvestmentAffiliatedIssuerMember2023-04-012023-06-300001280784Equity Investments Medical Devices & Equipment and ViewRay, Inc., Equity, Acquisition Date 12/16/2013, Series Common Stock2023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:DrugDeliveryMember2023-06-300001280784Debt Investments Consumer & Business Services and Houzz, Inc. Convertible Debt, Maturity Date May 2028, PIK Interest 7.00%2023-06-300001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 10/22/2015, Series Preferred Series 22023-06-300001280784Equity Investments Consumer & Business Services and Total Tectura Corporation2023-06-300001280784Warrant Investments and Software and Leapwork ApS, Warrant, Acquisition Date 1/23/2023, Common Stock2023-06-300001280784Debt 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 Fee2022-12-310001280784us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-06-300001280784htgc:February2025NotesMember2023-06-300001280784Debt 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%2023-06-300001280784Debt 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 Fee2023-06-300001280784Equity Investments Software and CapLinked, Inc., Equity, Acquisition Date 10/26/2012, Series Preferred Series A-32022-12-310001280784htgc:DebtInvestmentsMemberhtgc:YipitLLCMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ThumbtackIncorporationMember2022-12-310001280784Debt Investments Software and Constructor.io Corporation, Senior Secured, Maturity Date July 2027, 1-month SOFR + 8.44%, Floor rate 9.44%2022-12-310001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 11/20/2018, Series Preferred Series D2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:SBADebenturesMember2023-01-012023-06-300001280784Debt 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:DebtInvestmentsMemberhtgc:AlamarBiosciencesIncorporationMember2023-06-300001280784Debt Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Senior Secured, Maturity Date June 2027, FIXED 10.00%2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMember2022-04-012022-06-300001280784htgc:SMBCFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Warrant Investments and Software and Demandbase, Inc., Warrant, Acquisition Date 8/2/2021, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Provi, Warrant, Acquisition Date 12/22/2022, Common Stock2023-06-300001280784htgc:ExcludingCashAndCashEquivalentMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784htgc:September2026NotesMember2023-06-300001280784htgc:InvestmentFundsAndVehiclesMember2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-01-012022-06-300001280784country:DK2023-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:OtherControlInvestmentsMemberhtgc:SeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-01-012022-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMember2022-12-310001280784htgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784Equity Investments Software, Druva Holdings, Inc.2023-06-300001280784us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784htgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Warrant Investments and Drug Discovery & Development and Kineta, Inc., Warrant, Acquisition Date 12/20/2019, Common Stock2022-12-310001280784Equity Investments Drug Delivery and Aytu BioScience, Inc., Equity, Acquisition Date 3/28/2014, Series Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:AlamarBiosciencesIncorporationMember2022-12-310001280784htgc:SBADebenturesIssuedOnMarchTwentySixTwoThousandAndTwentyOneMember2023-06-300001280784htgc:LeaseAndLicenseObligationsMember2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development and Seres Therapeutics, Inc. Senior Secured, Maturity Date October 2024, Prime + 6.40%, Floor rate 9.65%, 4.98% Exit Fee2022-12-310001280784htgc:DiscountsAmortizationMember2022-01-012022-06-300001280784Equity Investments Drug Discovery & Development and Sio Gene Therapies, Inc., Equity, Acquisition Date 2/2/2017, Series Common Stock2022-12-310001280784Equity Investments Consumer & Business Services (0.61%)2023-06-300001280784Warrant Investments and Software and Fulfil Solutions, Inc., Warrant, Acquisition Date 7/29/2022, Common Stock2023-06-300001280784Equity Investments Medical Devices & Equipment and Flowonix Medical Incorporated, Equity, Acquisition Date 11/3/2014, Series Preferred Series AA2023-06-300001280784htgc:RecurringFeeIncomeMember2023-04-012023-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784htgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2023-01-012023-06-300001280784htgc:MarchTwoThousandTwentySixANotesMember2022-12-310001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-01-012023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SemiconductorsMember2022-01-012022-12-310001280784Equity Investments Semiconductors and Achronix Semiconductor Corporation, Equity, Acquisition Date 7/1/2011, Series Preferred Series C2022-12-310001280784htgc:SBADebenturesIssuedOnOctoberTwentyOneTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784Warrant Investments and Manufacturing Technology and Bright Machines, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2023-06-300001280784us-gaap:ForeignExchangeForwardMember2022-01-012022-06-300001280784Equity Investments Drug Discovery & Development and Kura Oncology, Inc., Equity, Acquisition Date 6/16/2023, Series Common Stock2023-06-300001280784htgc:OtherInterestIncomeMember2022-01-012022-06-300001280784htgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784us-gaap:InvestmentUnaffiliatedIssuerMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixBNotesMember2022-04-012022-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2023-01-012023-06-300001280784us-gaap:InvestmentAffiliatedIssuerMember2022-04-012022-06-300001280784htgc:MarchTwoThousandTwentySixANotesMember2023-01-012023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:MarchTwoThousandTwentySixANotesMember2023-06-300001280784Debt Investments Sustainable and Renewable Technology (0.38%)2023-06-300001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 8/1/2018, Preferred Series B2022-12-310001280784htgc:DividendDeclaredFourMember2023-05-232023-05-230001280784Warrant Investments and Healthcare Services, Other (0.00%)2022-12-310001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784Equity Investments Drug Delivery and Aytu BioScience, Inc., Equity, Acquisition Date 3/28/2014, Series Common Stock2022-12-310001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-06-300001280784htgc:TwoThousandTwentyTwoConvertibleNotesMember2022-01-012022-06-300001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2023-06-300001280784htgc:SMBCFacilityMembersrt:MaximumMember2023-01-012023-06-300001280784htgc:CapitalInExcessOfParValueMember2021-12-310001280784Warrant Investments and Software and Convoy, Inc., Warrant, Acquisition Date 3/30/2022, Common Stock2022-12-310001280784Warrant Investments and Software and Bitsight Technologies, Inc., Warrant, Acquisition Date 11/18/2020, Common Stock2023-06-300001280784Debt Investments Semiconductors and Fungible, Inc. Senior Secured, Maturity Date December 2024, Prime + 5.00%, Floor rate 8.25%, 4.95% Exit Fee2022-12-310001280784htgc:CommunicationsAndNetworkingMember2023-06-300001280784htgc:DiversifiedFinancialServicesMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-06-300001280784Warrant Investments and Software and SignPost, Inc., Warrant, Acquisition Date 1/13/2016, Series Junior 1 Preferred2022-12-310001280784htgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2023-01-012023-06-300001280784Equity Investments Sustainable and Renewable Technology and Pivot Bio, Inc., Equity, Acquisition Date 6/28/2021, Series Preferred Series D2023-06-300001280784htgc:CommonStockInvestmentMemberus-gaap:FairValueInputsLevel3Memberhtgc:AppreciationMember2022-01-012022-06-300001280784Warrant Investments and Software and The Faction Group LLC, Warrant, Acquisition Date 11/3/2014, Preferred Series AA2023-06-300001280784Debt Investments Communications & Networking and Cytracom Holdings LLC Senior Secured, Maturity Date February 2025, 3-month LIBOR + 9.31%, Floor rate 10.31%2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerMember2022-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:ElationHealthIncMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ZimperiumIncMember2023-06-300001280784htgc:SBADebenturesIssuedOnDecemberTwentyThreeTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date March 2026, Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee2023-06-300001280784htgc:AdviserSubsidiaryMember2023-01-012023-06-300001280784Equity Investments Drug Discovery & Development and Avalo Therapeutics, Inc., Equity, Acquisition Date 8/19/2014, Series Common Stock2023-06-300001280784Warrant Investments and Medical Devices & Equipment and Lucira Health, Inc., Warrant, Acquisition Date 2/4/2022, Common Stock2022-12-310001280784us-gaap:ForeignExchangeForwardMember2023-04-012023-06-300001280784Debt Investments Drug Discovery & Development and enGene, Inc. Senior Secured, Maturity Date July 2025, Prime + 5.00%, Floor rate 8.25%, 6.35% Exit Fee2023-06-300001280784htgc:PromissoryNotesMemberhtgc:BlackCrowAIIncMember2023-06-300001280784Debt Investments Drug Discovery & Development and Locus Biosciences, Inc. Senior Secured, Maturity Date July 2025, Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee2023-06-300001280784htgc:TwoThousandTwentyTwoNotesMember2022-04-012022-06-300001280784htgc:SBADebenturesIssuedOnOctoberTwentyOneTwoThousandAndTwentyOneMember2023-06-300001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784Warrant Investments and Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Warrant, Acquisition Date 9/17/2021, Common Stock2022-12-310001280784Debt Investments Diversified Financial Services and Hercules Adviser LLC, Unsecured, Maturity Date June 2025, FIXED 5.00%2023-06-300001280784Equity Investments Consumer & Business Services and Carwow LTD, Equity, Acquisition Date 12/15/2021, Series Preferred Series D-42023-06-300001280784Equity Investments Software and ZeroFox, Inc., Equity, Acquisition Date 5/7/2020, Series Common Stock2022-12-310001280784htgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:TipaltiSolutionsLtdMember2022-12-310001280784htgc:ContractualInterestIncomeMember2022-01-012022-06-300001280784us-gaap:PreferredStockMemberhtgc:EquityInvestmentsMember2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology (0.01%)2023-06-300001280784htgc:SBADebenturesMember2023-04-012023-06-300001280784Debt Investments Biotechnology Tools (2.31%)2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SBADebenturesMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:CerosIncorporationMember2023-06-300001280784htgc:BaseDividendMember2023-08-152023-08-150001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Software and Evernote Corporation, Warrant, Acquisition Date 9/30/2016, Common Stock2022-12-310001280784Debt Investments Software (53.63%)2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784Equity Investments Drug Discovery & Development (2.20%)2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784Warrant Investments and Drug Discovery & Development and Axsome Therapeutics, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2023-06-300001280784htgc:June20253YearNotesMember2022-06-232022-06-230001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Equity Investments Diversified Financial Services and Newfront Insurance Holdings, Inc., Equity, Acquisition Date 9/30/2021, Series Preferred Series D-22022-12-310001280784htgc:ThreeMonthLIBORMember2023-06-300001280784Warrant Investments and Semiconductors (0.04%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:IvericBioGeneTherapyLlcMember2022-12-310001280784Debt Investments Communications & Networking (7.26%)2022-12-310001280784htgc:ControlAndAffiliateIssuerInvestmentsMember2022-06-300001280784htgc:NuvoloTechnologiesCorporationMemberhtgc:DebtInvestmentsMember2023-06-300001280784us-gaap:WarrantMembersrt:MaximumMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784us-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784Warrant Investments and Software and Nuvolo Technologies Corporation, Warrant, Acquisition Date 3/29/2019, Common Stock2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixBNotesMember2023-04-012023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixANotesMember2022-04-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:CarwowLtdMember2023-06-300001280784Warrant Investments and Sustainable and Renewable Technology and Ampion, PBC, Warrant, Acquisition Date 4/15/2022, Common Stock2023-06-300001280784Equity Investments Sustainable and Renewable Technology and Proterra, Inc., Equity, Acquisition Date 5/28/2015, Series Common Stock2022-12-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2023-06-300001280784Warrant Investments and Software and Cutover, Inc., Warrant, Acquisition Date 9/21/2022, Common Stock2022-12-310001280784Debt Investments Drug Discovery & Development and Unity Biotechnology, Inc. Senior Secured, Maturity Date August 2024, Prime + 6.10%, Floor rate 9.35%, 6.25% Exit Fee2022-12-310001280784Investments (211.49%)2022-12-310001280784Warrant Investments and Consumer & Business Services and Landing Holdings Inc., Warrant, Acquisition Date 3/12/2021, Common Stock2023-06-300001280784htgc:DistributableEarningsLossMember2023-04-012023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:AlchemerLLCMember2023-06-300001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:NextInsuranceIncMember2023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784Debt 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 Fee2022-12-310001280784htgc:HerculesCapitalFourLPMember2020-10-270001280784Debt Investments Consumer & Business Services, Tectura Corporation2023-06-300001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:SecondLienMember2023-01-012023-06-300001280784Debt 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 Fee2022-12-310001280784Equity Investments Software and Druva Holdings, Inc., Equity, Acquisition Date 10/22/2015, Series Preferred Series 22022-12-310001280784htgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Equity Investments Semiconductors (0.02%)2023-06-300001280784Debt Investments Drug Discovery & Development and Geron Corporation, Senior Secured, Maturity Date October 2024, Prime + 5.75%, Floor rate 9.00%, 6.55% Exit Fee2022-12-310001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:DE2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Modumetal, Inc., Equity, Acquisition Date 6/1/2015, Series Common Stock2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784Warrant Investments and Software and Cutover, Inc., Warrant, Acquisition Date 9/21/2022, Common Stock2023-06-300001280784htgc:TwoThousandEighteenPlanAndDirectorPlanMemberus-gaap:RestrictedStockMember2018-06-280001280784htgc:PineappleEnergyLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-04-012022-06-300001280784htgc:MarchTwoThousandTwentySixANotesMember2023-06-300001280784Debt 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:ContractualInterestIncomeMember2022-04-012022-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-06-300001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:FlightScheduleProLlcMember2023-06-300001280784Debt 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:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-04-012022-06-300001280784Equity Investments Surgical Devices, Gynesonics, Inc.2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784Debt Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Unsecured, Maturity Date September 2026, FIXED 14.50%2022-12-310001280784Equity Investments Consumer & Business Services and Lyft, Inc., Equity, Acquisition Date 12/26/2018, Series Common Stock2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:BiotechnologyToolsMember2022-01-012022-12-310001280784Warrant Investments and Software and Cloudian, Inc., Warrant, Acquisition Date 11/6/2018, Common Stock2023-06-300001280784htgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2021-12-310001280784Debt Investments Software and Salary.com, LLC, Senior Secured, Maturity Date September 2027, 3-month SOFR + 8.00%, Floor rate 9.00%2023-06-300001280784Debt Investments Healthcare Services, Other and Modern Life, Inc. Senior Secured, Maturity Date February 2027, Prime + 2.75%, Floor rate 8.75%, 3.00% Exit Fee2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:LocusRoboticsCorporationMember2023-06-300001280784Warrant Investments and Software and Aria Systems, Inc., Warrant, Acquisition Date 5/22/2015, Preferred Series G2022-12-3100012807842023-04-012023-06-300001280784Debt Investments Drug Discovery & Development and uniQure B.V. Senior Secured, Maturity Date December 2025, Prime + 4.70%, Floor rate 7.95%, 7.28% Exit Fee2022-12-310001280784htgc:FebruaryTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Drug Discovery & Development (0.60%)2022-12-310001280784Warrant Investments and Semiconductors and Fungible, Inc., Warrant, Acquisition Date 12/16/2021, Common Stock2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberhtgc:ManufacturingTechnologyMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784us-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:MeasurementInputRevenueMultipleMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784us-gaap:EquitySecuritiesMemberhtgc:ValuationTechniqueOtherMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784htgc:MarchTwoThousandTwentySixANotesMember2022-04-012022-06-300001280784htgc:ZappiIncMemberhtgc:DebtInvestmentsMember2023-06-300001280784Warrant Investments and Medical Devices & Equipment and Flowonix Medical Incorporated, Warrant, Acquisition Date 9/21/2018, Preferred Series BB2023-06-300001280784Equity Investments Medical Devices & Equipment and Flowonix Medical Incorporated, Equity, Acquisition Date 11/3/2014, Series Preferred Series AA2022-12-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2023-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784Equity Investments and Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Preferred Series A-22022-12-310001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 1/18/2007, Series Preferred Series B2022-12-310001280784Debt Investments Consumer & Business Services and Worldremit Group Limited2023-06-300001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784htgc:FebruaryTwoThousandTwentyFiveNotesMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyThreeNotesMember2022-04-012022-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Rhino Labs, Inc., Warrant, Acquisition Date 3/12/2021, Common Stock2022-12-310001280784Warrant Investments and Information Services (0.04%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:SaamaTechnologiesMember2023-06-300001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMember2023-01-012023-06-300001280784htgc:LiabilityClassifiedAwardsMember2022-01-012022-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-04-012023-06-300001280784htgc:SBADebenturesIssuedOnDecemberTwentyEightTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784Debt Investments Diversified Financial Services, Gibraltar Business Capital, LLC, Unsecured2022-12-3100012807842022-03-310001280784htgc:CommonStockParValueZeroPointZeroZeroOnePerShareMember2023-01-012023-06-300001280784htgc:June20253YearNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2021-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 2/11/2021, Preferred Series D2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:AffiliateInvestmentsMember2022-04-012022-06-300001280784Debt Investments Drug Discovery & Development and BridgeBio Pharma, Inc. 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Technologies Corporation, Senior Secured, Maturity Date July 2025, Prime + 5.25%, Floor rate 8.50%, 2.42% Exit Fee2022-12-310001280784Equity Investments Drug Discovery & Development and Savara, Inc., Equity, Acquisition Date 8/11/2015, Series Common Stock2022-12-310001280784htgc:DrugDiscoveryAndDevelopmentMember2022-12-310001280784htgc:TaxableSubsidiaryMember2022-01-012022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Equity Investments Surgical Devices and TransMedics Group, Inc., Equity, Acquisition Date 11/7/2012, Series Common Stock2022-12-310001280784Warrant Investments and Drug Discovery & Development and X4 Pharmaceuticals, Inc., Warrant, Acquisition Date 12/9/2022, Common Stock2022-12-310001280784Investments in Securities (211.21%)2022-12-310001280784Equity Investments Information Services and Zeta Global Corp., Equity, Acquisition Date 11/20/2007, Series Common Stock2022-12-310001280784us-gaap:EmployeeStockOptionMember2022-01-012022-06-300001280784htgc:PharmaceuticalsMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784us-gaap:ForeignExchangeForwardMember2022-04-012022-06-300001280784htgc:NotesMember2018-09-240001280784Debt 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 Fee2023-06-300001280784htgc:PerformanceAwardsMember2023-04-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ReplimuneGroupIncMember2022-12-310001280784htgc:HerculesAdviserLLCMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2022-12-310001280784htgc:AdviserFundsMember2022-01-012022-06-300001280784htgc:SeptemberTwoThousandTwentySixNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784htgc:SupplementalDividendMember2023-07-272023-07-270001280784Warrant Investments and Drug Discovery & Development and TG Therapeutics, Inc., Warrant, Acquisition Date 2/28/2019, Common 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Shares2023-06-300001280784htgc:PineappleEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-06-300001280784htgc:ContractualInterestIncomeMember2023-04-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:HilleVaxIncMember2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SoftwareMember2022-01-012022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:EscrowReceivableMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784htgc:InvestmentFundsAndVehiclesMember2023-06-300001280784Equity Investments Semiconductors (0.01%)2022-12-310001280784Warrant Investments and Drug Discovery & Development and TG Therapeutics, Inc., Warrant, Acquisition Date 2/28/2019, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:DemandbaseIncorporationMember2022-12-310001280784htgc:OakStreetHealthIncMemberhtgc:DebtInvestmentsMember2022-12-310001280784Debt Investments Software and Sumo Logic, Inc., Senior Secured, Maturity Date May 2030, 3-month SOFR + 6.50%, Floor rate 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11.50%2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 8/27/2021, Preferred Series E2022-12-310001280784Warrant Investments and Software and Dragos, Inc., Warrant, Acquisition Date 6/28/2023, Common Stock2023-06-300001280784htgc:DiversifiedFinancialServicesMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberus-gaap:MemberUnitsMember2023-06-300001280784Equity Investments Consumer & Business Products and TFG Holding, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2022-12-310001280784Debt Investments Communications & Networking and Cytracom Holdings LLC Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.62%, Floor rate 10.62%2023-06-300001280784htgc:TwoThousandTwentyTwoNotesMember2022-01-012022-06-300001280784Debt Investments Software and 3GTMS, LLC2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMember2022-01-012022-12-310001280784Equity Investments Surgical Devices and Gynesonics, Inc., Equity, Acquisition Date 2/8/2013, Series Preferred Series D2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:MadrigalPharmaceuticalIncMember2022-12-310001280784Debt 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 Fee2023-06-300001280784Equity Investments Consumer & Business Services and Tectura Corporation, Equity, Acquisition Date 6/6/2016, Series Preferred Series BB2023-06-300001280784Equity Investments Drug Discovery & Development and NorthSea Therapeutics, Equity, Acquisition Date 12/15/2021, Series Preferred Series C2022-12-310001280784htgc:JuneTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784Investment Funds & Vehicles Investments and Drug Discovery & Development (0.25%)2022-12-310001280784Debt 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 Fee2023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784Equity Investments Medical Devices & Equipment, Coronado Aesthetics, LLC2022-12-310001280784Debt Investments Software and ShadowDragon, LLC, Senior Secured, Maturity Date December 2026, 6-month SOFR + 8.95%, Floor rate 9.95%2023-06-300001280784htgc:ForbionGrowthOpportunitiesFundICVMemberhtgc:InvestmentFundsAndVehiclesMember2022-12-310001280784Warrant Investments (2.16%)2023-06-300001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsIncludingIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2023-01-012023-06-300001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 8/23/2019, Preferred Series B2022-12-310001280784Debt Investments Software and Logicworks, Senior Secured, Maturity Date January 2024, Prime + 7.50%, Floor rate 10.75%2022-12-310001280784us-gaap:UnsecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784Equity Investments Healthcare Services, Other and 23andMe, Inc., Equity, Acquisition Date 3/11/2019, Series Common 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Stock2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MediaContentInfoMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:CytracomHoldingsLLCMember2022-12-310001280784Debt Investments Consumer & Business Services, Tectura Corporation2022-12-310001280784Equity Investments Sustainable and Renewable Technology and Pineapple Energy LLC, Equity, Acquisition Date 12/10/2020, Series Common Stock2022-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784htgc:TwoThousandThirtyThreeNotesMember2022-12-310001280784Equity Investments Sustainable and Renewable Technology and NantEnergy, LLC, Equity, Acquisition Date 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Acquisition Date 10/8/2019, Common Stock2023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Debt 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 Fee2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:OrdinaryIncomeMember2022-01-012022-06-300001280784Equity Investments Consumer & Business Services and DoorDash, Inc., Equity, Acquisition Date 12/20/2018, Series Common Stock2023-06-300001280784us-gaap:CommonStockMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784Equity Investments Software and Docker, Inc., Equity, Acquisition Date 11/29/2018, Series Common Stock2023-06-300001280784Equity Investments Software and ZeroFox, Inc., Equity, Acquisition Date 5/7/2020, Series Common Stock2023-06-300001280784htgc:SemiconductorsMember2022-12-310001280784us-gaap:PreferredStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-01-012022-06-300001280784Debt Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc. Senior Secured, Maturity Date February 2027, Prime + 5.20%, Floor rate 8.45%, 4.75% Exit Fee2022-12-310001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 6-month SOFR + 9.27%, Floor rate 10.27%2023-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:RecurringFeeIncomeMember2022-01-012022-06-300001280784Debt Investments Drug Discovery & Development and G1 Therapeutics, Inc. Senior Secured, Maturity Date November 2026, Prime + 5.65%, Floor rate 9.15%, 11.41% Exit Fee2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMember2023-06-300001280784Equity Investments Drug Discovery & Development and Phathom Pharmaceuticals, Inc., Equity, Acquisition Date 6/9/2023, Series Common Stock2023-06-300001280784Equity Investments Consumer & Business Services and Carwow LTD, Equity, Acquisition Date 12/15/2021, Series Preferred Series D-42022-12-310001280784htgc:January2027NotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784Warrant Investments and Drug Discovery & Development and Dermavant Sciences Ltd., Warrant, Acquisition Date 5/31/2019, Common Stock2022-12-310001280784htgc:TwoThousandThirtyOneAssetBackedNotesMember2023-04-012023-06-300001280784Equity Investments Drug Discovery & Development and Hibercell, Inc., Equity, Acquisition Date 5/7/2021, Series Preferred Series B2022-12-310001280784htgc:SmbcLcFacilityMember2023-01-132023-01-130001280784htgc:SMBCFacilityMember2023-04-012023-06-300001280784Equity Investments Software and Palantir Technologies, Equity, Acquisition Date 9/23/2020, Series Common Stock2022-12-310001280784htgc:SBADebenturesIssuedOnMarchTwentySixTwoThousandAndTwentyOneMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LocusRoboticsCorporationMember2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:FulfilSolutionsIncMember2023-06-300001280784country:NLus-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMember2023-06-300001280784htgc:DividendDeclaredFourMember2023-01-012023-06-300001280784Equity Investments Drug Discovery & Development and Tarsus Pharmaceuticals, Inc., Equity, Acquisition Date 5/5/2022, Series Common Stock2023-06-300001280784htgc:AnnexCloudMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:SBADebenturesMember2022-04-012022-06-300001280784htgc:June2025NotesMember2023-01-012023-06-300001280784htgc:TwoThousandThirtyThreeNotesMember2023-04-012023-06-300001280784htgc:CommonGrossProceedsMember2022-01-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:SumoLogicMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMember2022-12-310001280784Warrant Investments and Consumer & Business Services (0.19%)2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784Debt Investments Drug Discovery & Development and Curevo, Inc. Senior Secured, Maturity Date June 2027 Prime + 1.70%, Floor rate 9.70%, 6.95% Exit Fee2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:FortifiedHealthSecurityMember2023-06-300001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 9.28%, Floor rate 10.28%2022-12-310001280784Warrant Investments and Semiconductors and Achronix Semiconductor Corporation, Warrant, Acquisition Date 6/26/2015, Preferred Series D-22022-12-310001280784Warrant Investments and Consumer & Business Products and Gadget Guard, LLC, Warrant, Acquisition Date 6/3/2014, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:BrainCorporationMember2023-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-01-012023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784Equity Investments Software and Contentful Global, Inc., Equity, Acquisition Date 12/22/2020, Series Preferred Series C2022-12-310001280784htgc:SBADebenturesIssuedOnNovemberThirtyTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784Warrant Investments and Consumer & Business Services and Udacity, Inc., Warrant, Acquisition Date 9/25/2020, Common Stock2022-12-310001280784us-gaap:SalesRevenueNetMemberus-gaap:PreferredStockMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:EquityInvestmentsMember2022-01-012022-12-310001280784htgc:DebtInvestmentsMemberhtgc:GritstoneBioIncMember2023-06-300001280784country:DK2022-12-310001280784Debt Investments Consumer & Business Services and SeatGeek, Inc. Senior Secured, Maturity Date July 2025, Prime + 2.50%, Floor rate 10.75%, PIK Interest 0.50%2023-06-300001280784htgc:UnvestedRestrictedStockAwardsMember2023-04-012023-06-300001280784htgc:MUFGBankFacilityMember2023-04-012023-06-300001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784htgc:SoftwareMember2023-06-300001280784Equity Investments Consumer & Business Services and Nerdy Inc., Equity, Acquisition Date 9/17/2021, Series Common Stock2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Thumbtack, Inc., Warrant, Acquisition Date 5/1/2018, Common Stock2023-06-300001280784us-gaap:CarryingReportedAmountFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2023-06-300001280784Debt Investments Consumer & Business Services and Worldremit Group Limited, Senior Secured, Maturity Date February 2025, 1-month SOFR + 9.25%, Floor rate 10.25%, 3.20% Exit Fee2023-06-300001280784us-gaap:ForeignExchangeForwardMember2023-06-300001280784Equity Investments Diversified Financial Services and Gibraltar Business Capital, LLC, Equity, Acquisition Date 3/1/2018, Series Preferred Series A2022-12-310001280784Debt 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%, 5.78% Exit Fee2023-06-300001280784htgc:EquityAndWarrantInvestmentsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784Debt 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 Fee2022-12-310001280784Equity Investments Consumer & Business Products and Savage X Holding, LLC, Equity, Acquisition Date 4/30/2010, Series Class A Units2022-12-310001280784Equity Investments Drug Discovery & Development and Paratek Pharmaceuticals, Inc., Equity, Acquisition Date 2/26/2007, Series Common Stock2022-12-310001280784Equity Investments Drug Discovery & Development and Savara, Inc., Equity, Acquisition Date 8/11/2015, Series Common Stock2023-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:WarrantInvestmentMemberhtgc:AppreciationMember2022-01-012022-06-300001280784Warrant Investments and Drug Discovery & Development and Madrigal Pharmaceutical, Inc., Warrant, Acquisition Date 5/9/2022, Common Stock2023-06-300001280784htgc:RealizedGainLossMember2022-01-012022-06-300001280784Equity Investments Consumer & Business Services and Rhino Labs, Inc., Equity, Acquisition Date 1/24/2022, Series Preferred Series B-22023-06-300001280784htgc:DebtInvestmentsMemberhtgc:YipitLLCMember2022-12-310001280784Warrant Investments and Consumer & Business Products and TFG Holding, Inc., Warrant, Acquisition Date 6/27/2014, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:NuvoloTechnologiesCorporationMember2022-12-310001280784htgc:AppDirectIncorporationMemberhtgc:DebtInvestmentsMember2022-12-310001280784Debt 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%2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 8/1/2018, Preferred Series B2023-06-300001280784Warrant Investments and Drug Discovery & Development and Redshift Bioanalytics, Inc., Warrant, Acquisition Date 3/23/2022, Preferred Series E2022-12-310001280784htgc:CybermaxxIntermediateHoldingsIncorporationMemberhtgc:DebtInvestmentsMember2023-06-300001280784htgc:CommonOfferingExpensesMember2022-01-012022-06-300001280784Debt 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 Fee2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMember2023-06-300001280784Debt 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:DebtInvestmentsMemberhtgc:ReplimuneGroupIncMember2023-06-300001280784htgc:DistributableEarningsLossMember2022-06-300001280784htgc:DebtInvestmentsMemberhtgc:CutoverIncMember2023-06-300001280784Debt 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 Fee2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:AutomationAnyWhereIncMember2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001280784Warrant Investments and Semiconductors (0.05%)2023-06-300001280784htgc:JulyTwoThousandTwentyFourNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784Debt Investments Software and 3GTMS, LLC, Senior Secured, Maturity Date February 2025, 3-month LIBOR + 6.57%, Floor rate 7.57%2022-12-310001280784htgc:SmbcLcFacilityMemberhtgc:AdditionalFaceAmountMember2023-01-130001280784htgc:ForbionGrowthOpportunitiesFundIICVMemberhtgc:InvestmentFundsAndVehiclesMember2022-12-310001280784Debt Investments Software and Ceros, Inc., Senior Secured, Maturity Date September 2026, 6-month LIBOR + 9.67%, Floor rate 10.67%2022-12-310001280784Debt 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 Fee2022-12-310001280784Equity Investments Consumer & Business Services and Total Tectura Corporation2022-12-310001280784Debt Investments Software and Eigen Technologies Ltd., Senior Secured, Maturity Date April 2025, Prime + 5.10%, Floor rate 8.35%, 2.95% Exit Fee2022-12-310001280784htgc:SMBCFacilityMember2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-01-012022-06-300001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:JulyTwoThousandTwentyFourNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784htgc:SBADebenturesIssuedOnNovemberFifteenTwoThousandAndTwentyOneMember2023-06-300001280784Warrant Investments and Software and First Insight, Inc., Warrant, Acquisition Date 5/10/2018, Preferred Series B2022-12-310001280784Equity Investments Software, Contentful Global, Inc.2022-12-310001280784Debt 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 Fee2023-06-300001280784Debt Investments Software and Imperva, Inc., Senior Secured, Maturity Date January 2027, 3-month LIBOR + 7.75%, Floor rate 8.75%2023-06-300001280784Equity Investments Medical Devices & Equipment and Gelesis, Inc., Equity, Acquisition Date 11/30/2009, Series Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LogicSourceMember2022-12-310001280784htgc:September2026NotesMember2023-01-012023-06-300001280784Debt Investments Diversified Financial Services and Gibraltar Acquisition, LLC (p.k.a. 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Senior Secured, Maturity Date May 2027, Prime + 1.05%, Floor rate 4.55%, Cap rate 6.05%, PIK Interest 2.85%, 7.15% Exit Fee2022-12-310001280784htgc:MarchTwoThousandTwentySixANotesMember2023-04-012023-06-300001280784htgc:SBADebenturesIssuedOnDecemberTwentyThreeTwoThousandAndTwentyOneMember2023-06-300001280784htgc:PineappleEnergyLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-01-012022-06-300001280784htgc:SBADebenturesIssuedOnJuneTwentyFiveTwoThousandAndTwentyOneMember2023-01-012023-06-300001280784Equity Investments Software and Black Crow AI, Inc. affiliates, Equity, Acquisition Date 3/24/2021, Series Preferred Note2022-12-310001280784htgc:CapitalInExcessOfParValueMember2023-01-012023-06-300001280784us-gaap:CommonStockMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784htgc:DebtInvestmentsMemberhtgc:CytracomHoldingsLLCMember2023-06-300001280784htgc:ThreeMonthSOFRMember2023-06-300001280784htgc:SBADebenturesMember2023-06-3000012807842023-07-260001280784Debt Investments Software and Kazoo, Inc. (p.k.a. 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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 Myovant Sciences, Ltd., Warrant, Acquisition Date 10/16/2017, Common Stock2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsIncludingIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784htgc:DividendDeclaredSevenMember2022-01-012022-12-310001280784htgc:NetInvestmentIncomeMember2023-01-012023-06-300001280784us-gaap:WarrantMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMember2023-01-012023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-04-012022-06-300001280784Equity Investments Drug Discovery & Development and Valo Health, LLC, Equity, Acquisition Date 12/11/2020, Series Preferred Series B2022-12-310001280784htgc:DistributableEarningsLossMember2023-06-300001280784Debt Investments Drug Discovery & Development and Locus Biosciences, Inc. Senior Secured, Maturity Date July 2025, Prime + 6.10%, Floor rate 9.35%, 4.95% Exit Fee2022-12-310001280784us-gaap:SalesRevenueNetMemberhtgc:CollateralTypeConcentrationRiskMemberhtgc:AllAssetsWithNegativePledgeOnIntellectualPropertyMemberhtgc:SeniorSecuredFirstLienMember2022-01-012022-12-310001280784Equity Investments Software and Verana Health, Inc., Equity, Acquisition Date 7/8/2021, Series Preferred Series E2023-06-300001280784us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMember2022-12-310001280784Warrant Investments and Communications & Networking and Aryaka Networks, Inc., Warrant, Acquisition Date 6/28/2022, Common Stock2023-06-300001280784Debt Investments Manufacturing Technology and MacroFab, Inc. Senior Secured, Maturity Date March 2026, Prime + 4.35%, Floor rate 7.60%, PIK Interest 1.25%, 4.50% Exit Fee2022-12-310001280784htgc:DividendDeclaredOneMember2022-03-162022-03-160001280784htgc:JulyTwoThousandTwentyFourNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Equity Investments Electronics & Computer Hardware and Skydio, Inc., Equity, Acquisition Date 3/8/2022, Series Preferred Series E2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SurgicalDevicesMember2022-01-012022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2023-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Equity Investments Software, SingleStore, Inc.2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ElectronicsComputerHardwareMember2023-01-012023-06-300001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2023-06-300001280784Debt Investments Drug Discovery & Development and Madrigal Pharmaceutical, Inc. Senior Secured, Maturity Date May 2026, Prime + 3.95%, Floor rate 7.45%, 5.35% Exit Fee2022-12-310001280784Debt Investments Consumer & Business Services and AppDirect, Inc. Senior Secured, Maturity Date April 2026, Prime + 5.50%, Floor rate 8.75%, 8.29% Exit Fee2022-12-310001280784us-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:January2027NotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784us-gaap:EmployeeStockOptionMember2023-01-012023-06-300001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2022-12-310001280784htgc:DividendDeclaredSixMember2022-08-162022-08-160001280784htgc:SBADebenturesIssuedOnDecemberTwentyEightTwoThousandAndTwentyOneMember2023-06-300001280784us-gaap:PreferredStockMemberhtgc:EquityInvestmentsMember2023-06-300001280784htgc:TwoThousandEighteenPlanAndDirectorPlanMember2018-06-280001280784us-gaap:IncomeApproachValuationTechniqueMemberhtgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMember2023-06-300001280784Warrant 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Senior Secured, Maturity Date May 2026, Prime + 2.45%, Floor rate 8.25%, 5.35% Exit Fee2023-06-300001280784Debt Investments Software and Ikon Science Limited, Senior Secured, Maturity Date October 2024, 3-month Eurodollar + 9.00%, Floor rate 10.00%2022-12-310001280784Equity Investments Consumer & Business Products and Savage X Holding, LLC, Equity, Acquisition Date 4/30/2010, Series Class A Units2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:OmedaHoldingsLlcMember2023-06-300001280784Warrant Investments and Biotechnology Tools (0.03%)2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:ShadowDragonLLCMember2023-06-300001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784Warrant Investments and Consumer & Business Services and Thumbtack, Inc., Warrant, Acquisition Date 5/1/2018, Common Stock2022-12-310001280784htgc:JuneTwoThousandTwentyFiveNotesMember2022-04-012022-06-300001280784Warrant Investments and Consumer & Business Products and The Neat Company, Warrant, Acquisition Date 8/13/2014, Common Stock2023-06-300001280784us-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001280784htgc:CapitalInExcessOfParValueMember2022-01-012022-06-300001280784Debt Investments Drug Discovery & Development (68.62%)2023-06-300001280784htgc:NetInvestmentIncomeMember2022-01-012022-06-300001280784Debt Investments Healthcare Services, Other (13.98%)2022-12-310001280784Warrant Investments and Consumer & Business Products and Savage X Holding, LLC, Warrant, Acquisition Date 6/27/2014, Class A Units2022-12-310001280784htgc:DividendDeclaredTwoMember2022-01-012022-12-310001280784Equity Investments Sustainable and Renewable Technology and Proterra, Inc., Equity, Acquisition Date 5/28/2015, Series Common Stock2023-06-300001280784Debt Investments Software and Alchemer LLC, Senior Secured, Maturity Date May 2028, 1-month SOFR + 8.14%, Floor rate 9.14%2023-06-300001280784us-gaap:SalesRevenueNetMemberus-gaap:UnsecuredDebtMemberhtgc:InvestmentTypeConcentrationRiskMember2022-01-012022-12-310001280784Debt Investments Software and Sisense Ltd., Senior Secured, Maturity Date July 2027, Prime + 1.50%, Floor rate 9.50%, PIK Interest 1.95%, 2.55% Exit Fee2023-06-300001280784us-gaap:WarrantMembersrt:MinimumMemberus-gaap:ValuationTechniqueOptionPricingModelMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMember2023-06-300001280784Equity Investments Consumer & Business Products and TechStyle, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2022-12-310001280784htgc:OneMonthSofrRateMember2023-06-300001280784Debt Investments Electronics & Computer Hardware (1.19%)2023-06-300001280784Debt Investments Software and Khoros (p.k.a Lithium Technologies), Senior Secured, Maturity Date January 2024, 3-month SOFR + 8.00%, Floor rate 9.00%2023-06-300001280784htgc:SemiconductorsMember2023-06-300001280784Warrant Investments and Drug Delivery and BioQ Pharma Incorporated, Warrant, Acquisition Date 10/27/2014, Common Stock2023-06-300001280784htgc:ServiceVestingAwardsMember2022-01-012022-06-300001280784Debt Investments Information Services and Yipit, LLC, Senior Secured, Maturity Date September 2026, 1-month SOFR + 9.03%, Floor rate 10.13%2023-06-300001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc., Warrant, Acquisition Date 4/22/2014, Preferred Series A2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:TechnologyMemberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784Equity Investments Consumer & Business Products and TFG Holding, Inc., Equity, Acquisition Date 4/30/2010, Series Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:KuraOncologyIncMember2023-06-300001280784htgc:HerculesCapitalFourLPMember2023-01-012023-06-300001280784us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMember2023-06-300001280784htgc:IndustrySectorMember2023-01-012023-06-300001280784Equity Investments Consumer & Business Services and OfferUp, Inc., Equity, Acquisition Date 10/25/2016, Series Preferred Series A2022-12-310001280784Debt 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%2022-12-310001280784Equity Investments Software and 3GTMS, LLC, Equity, Acquisition Date 8/9/2021, Series Common Stock2022-12-310001280784us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784Debt Investments Manufacturing Technology (2.94%)2023-06-300001280784htgc:SixMonthLIBORMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:AlladaptImmunotherapeuticsincMember2022-12-310001280784Debt Investments Drug Discovery & Development and Akero Therapeutics, Inc. Senior Secured, Maturity Date January 2027, Prime + 3.65%, Floor rate 7.65%, 5.85% Exit Fee2022-12-310001280784htgc:InformationServicesMember2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001280784htgc:MedicalDevicesAndEquipmentMember2023-06-300001280784htgc:PIKInterestMember2022-01-012022-06-3000012807842021-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2023-06-300001280784htgc:TwoThousandThirtyThreeNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784us-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784Debt 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 Fee2022-12-310001280784country:IL2022-12-310001280784htgc:IncludedInCostMember2023-01-012023-06-300001280784Equity Investments Sustainable and Renewable Technology and Impossible Foods, Inc., Equity, Acquisition Date 5/10/2019, Series Preferred Series E-12023-06-300001280784Warrant Investments and Drug Discovery & Development and Cellarity, Inc., Warrant, Acquisition Date 12/8/2021, Preferred Series B2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessServicesMember2023-01-012023-06-300001280784htgc:AdviserSubsidiaryMember2022-04-012022-06-300001280784htgc:ExitFeesAmortizationMember2022-01-012022-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784Equity Investments Information Services and Yipit, LLC, Equity, Acquisition Date 12/30/2021, Series Preferred Series E2023-06-300001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784us-gaap:SalesRevenueNetMemberus-gaap:PreferredStockMemberhtgc:InvestmentTypeConcentrationRiskMemberhtgc:EquityInvestmentsMember2023-01-012023-06-300001280784Warrant Investments and Medical Devices & Equipment and Aspire Bariatrics, Inc., Warrant, Acquisition Date 1/28/2015, Common Stock2023-06-300001280784us-gaap:EmployeeStockOptionMember2023-04-012023-06-300001280784htgc:HerculesCapitalFourLPMember2021-12-310001280784Equity Investments Semiconductors and Achronix Semiconductor Corporation, Equity, Acquisition Date 7/1/2011, Series Preferred Series C2023-06-300001280784us-gaap:GeographicConcentrationRiskMemberus-gaap:SalesRevenueNetMembercountry:IL2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development and BridgeBio Pharma, Inc. Senior Secured, Maturity Date November 2026, FIXED 9.00%, 2.00% Exit Fee2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology (0.03%)2022-12-310001280784htgc:SupplementalDividendMember2023-05-162023-05-160001280784Warrant Investments and Electronics & Computer Hardware and 908 Devices, Inc., Warrant, Acquisition Date 3/15/2017, Common Stock2022-12-310001280784us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:SeniorSecuredDebtMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784htgc:BaseAndSupplementalDividendMember2023-07-272023-07-270001280784htgc:January2027NotesMember2022-01-200001280784us-gaap:InvestmentUnaffiliatedIssuerMember2022-12-310001280784Equity Investments Information Services and Planet Labs, Inc., Equity, Acquisition Date 6/21/2019, Series Common Stock2022-12-310001280784htgc:DividendDeclaredFourMember2022-05-242022-05-240001280784htgc:CoronadoAestheticsLLCMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Veem, Inc., Warrant, Acquisition Date 3/31/2022, Common Stock2023-06-300001280784us-gaap:CommonStockMember2023-06-300001280784Warrant Investments and Consumer & Business Services and Skyword, Inc., Warrant, Acquisition Date 8/23/2019, Preferred Series B2023-06-300001280784htgc:MarchTwoThousandTwentySixBNotesMember2022-12-310001280784htgc:PIKInterestMember2023-01-012023-06-300001280784htgc:AcceleratedFeeIncomeEarlyRepaymentsMember2022-04-012022-06-300001280784Investment 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:AcceleratedFeeIncomeExpiredCommitmentsMember2022-04-012022-06-300001280784Debt Investments Software and Cybermaxx Intermediate Holdings, Inc.2023-06-300001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784htgc:SeniorSecuredDebtOneMemberhtgc:OtherControlInvestmentsMemberhtgc:ConsumerAndBusinessServicesMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-01-012023-06-300001280784htgc:January2027NotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001280784Warrant Investments and Medical Devices & Equipment and Tela Bio, Inc., Warrant, Acquisition Date 3/31/2017, Common Stock2022-12-310001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Electronics & Computer Hardware and Locus Robotics Corp., Warrant, Acquisition Date 6/21/2022, Common Stock2022-12-310001280784htgc:January2027NotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784Debt Investments Software and Mobile Solutions Services, Senior Secured, Maturity Date December 2025, 3-month LIBOR + 9.06%, Floor rate 10.06%2023-06-300001280784Debt 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 Fee2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2023-06-300001280784htgc:DeferredFeesMember2022-01-012022-12-310001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:TwoThousandThirtyOneAssetBackedNotesMember2022-12-310001280784htgc:RealizedGainLossMember2023-01-012023-06-300001280784Warrant Investments and Drug Discovery & Development and Scynexis, Inc., Warrant, Acquisition Date 5/14/2021, Common Stock2023-06-300001280784htgc:SeniorSecuredDebtOneMemberhtgc:OtherControlInvestmentsMemberhtgc:ConsumerAndBusinessServicesMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:RVShareLimitedLiabilityCompanyMember2023-06-300001280784Warrant Investments and Software and Lightbend, Inc., Warrant, Acquisition Date 2/14/2018, Preferred Series D2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Fulcrum Bioenergy, Inc., Warrant, Acquisition Date 4/30/2013, Preferred Series C-12022-12-310001280784Debt Investments Software and Flight Schedule Pro, LLC, Senior Secured, Maturity Date October 2027, 1-month SOFR + 7.79%, Floor rate 8.70%2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:BiotechnologyToolsMember2023-01-012023-06-300001280784Debt Investments Software and Fortified Health Security, Senior Secured, Maturity Date December 2027, 6-month SOFR + 7.79%, Floor rate 8.54%2022-12-310001280784htgc:UnvestedRestrictedStockAwardsMember2023-01-012023-06-300001280784Equity Investments Consumer & Business Services and Rhino Labs, Inc., Equity, Acquisition Date 1/24/2022, Series Preferred Series B-22022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:MediaContentInfoMember2022-01-012022-12-310001280784Debt Investments (185.30%)2023-06-300001280784Warrant Investments and Drug Discovery & Development and Provention Bio, Inc., Warrant, Acquisition Date 9/15/2022, 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%2022-12-310001280784htgc:ExitFeeMember2022-04-012022-06-300001280784htgc:DebtInvestmentsMemberhtgc:PhathomPharmaceuticalsIncMember2023-06-300001280784htgc:March2026ANotesMember2023-06-300001280784htgc:EquityAndWarrantInvestmentsMemberus-gaap:FairValueInputsLevel3Member2023-06-300001280784htgc:DiversifiedFinancialServicesMemberhtgc:UnsecuredDebtOneMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-01-012023-06-300001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784us-gaap:InvestmentAffiliatedIssuerMember2022-01-012022-06-300001280784Equity Investments Drug Discovery & Development and X4 Pharmaceuticals, Inc., Equity, Acquisition Date 11/26/2019, Series Common Stock2023-06-300001280784htgc:SeniorSecuredDebtMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784us-gaap:MeasurementInputEbitdaMultipleMemberus-gaap:EquitySecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:ContractualInterestIncomeMember2023-01-012023-06-300001280784Warrant Investments and Electronics & Computer Hardware and Skydio, Inc., Warrant, Acquisition Date 11/08/2021, Common Stock2022-12-310001280784htgc:SBADebenturesIssuedOnJanuaryTwentyOneTwoThousandAndTwentyTwoMember2022-12-310001280784Debt Investments Software and Dashlane, Inc., Senior Secured, Maturity Date July 2025, Prime + 3.05%, Floor rate 7.55%, PIK Interest 1.10%, 2.39% Exit Fee2023-06-300001280784htgc:UnusedFacilityOtherFeesMemberhtgc:TwoThousandThirtyThreeNotesMember2023-04-012023-06-300001280784htgc:BaseDividendMember2023-08-220001280784htgc:DragosMemberhtgc:DebtInvestmentsMember2023-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-04-012023-06-300001280784Warrant Investments and Software and Demandbase, Inc., Warrant, Acquisition Date 8/2/2021, Common Stock2023-06-300001280784htgc:SMBCFacilityMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784Debt 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 Fee2023-06-300001280784htgc:SMBCFacilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:EscrowReceivableMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-3000012807842023-06-300001280784htgc:EquityInvestmentsMemberus-gaap:CommonStockMember2022-12-310001280784htgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784htgc:AdviserSubsidiaryMember2022-12-310001280784Debt Investments Media/Content/Info and Fever Labs, Inc. Senior Secured, Maturity Date December 2025, Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee2023-06-300001280784Warrant Investments and Drug Discovery & Development and Cellarity, Inc., Warrant, Acquisition Date 12/8/2021, Preferred Series B2022-12-310001280784us-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Information Services and INMOBI Inc., Warrant, Acquisition Date 11/19/2014, Common Stock2023-06-300001280784htgc:LiabilityClassifiedAwardsMember2023-06-300001280784htgc:PharmaceuticalsMemberhtgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2022-12-310001280784htgc:SMBCFacilityMemberhtgc:UnusedFacilityOtherFeesMember2023-04-012023-06-300001280784Equity Investments Software and Black Crow AI, Inc. affiliates, Equity, Acquisition Date 3/24/2021, Series Preferred Note2023-06-300001280784us-gaap:PrivateEquityFundsForeignMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300001280784country:CA2023-06-300001280784us-gaap:CommonStockMember2023-01-012023-06-300001280784Debt Investments Drug Discovery & Development and Corium, Inc. Senior Secured, Maturity Date September 2026, Prime + 5.70%, Floor rate 8.95%, 7.75% Exit Fee2023-06-300001280784Debt Investments Consumer & Business Services and Worldremit Group Limited, Senior Secured, Maturity Date February 2025, 3-month SOFR + 9.25%, Floor rate 10.25%, 3.20% Exit Fee2023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2023-06-300001280784country:GB2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2022-12-310001280784htgc:PineappleEnergyLLCMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-06-300001280784htgc:DragosMemberhtgc:DebtInvestmentsMember2022-12-310001280784Warrant Investments and Media/Content/Info (0.00%)2023-06-300001280784Debt 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 Fee2023-06-300001280784Equity Investments Drug Discovery & Development and Dynavax Technologies, Equity, Acquisition Date 7/22/2015, Series Common Stock2022-12-310001280784Equity Investments Healthcare Services, Other and 23andMe, Inc., Equity, Acquisition Date 3/11/2019, Series Common Stock2023-06-300001280784us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2023-06-300001280784htgc:HerculesAdviserLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:ElectronicsComputerHardwareMember2023-06-300001280784Warrant Investments and Software and First Insight, Inc., Warrant, Acquisition Date 5/10/2018, Preferred Series B2023-06-300001280784Debt Investments Software and Cutover, Inc., Senior Secured, Maturity Date October 2025, Prime + 5.20%, Floor rate 9.95%, 4.95% Exit Fee2022-12-310001280784us-gaap:CommonStockMember2021-12-310001280784htgc:DebtInvestmentsMemberhtgc:SkydioIncorporationMember2023-06-300001280784Equity Investments Software and Lightbend, Inc., Equity, Acquisition Date 12/4/2020, Series Common Stock2022-12-310001280784us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2022-06-300001280784htgc:AnnexCloudMemberhtgc:DebtInvestmentsMember2023-06-300001280784Debt Investments Drug Discovery & Development and AmplifyBio, LLC, Senior Secured, Maturity Date January 2027, Prime + 2.50%, Floor rate 9.50%, Cap rate 10.75%, 5.85% Exit Fee2022-12-310001280784htgc:CoronadoAestheticsLLCMemberhtgc:MedicalDevicesAndEquipmentMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784Debt Investments Consumer & Business Services and Collective Health, Inc. Senior Secured, Maturity Date September 2023, Prime + 4.75%, Floor rate 12.50%2023-06-300001280784Warrant Investments and Software and Esme Learning Solutions, Inc., Warrant, Acquisition Date 1/27/2022, Common Stock2023-06-300001280784Debt Investments Healthcare Services, Other and Better Therapeutics, Inc. Senior Secured, Maturity Date August 2025, Prime + 5.70%, Floor rate 8.95%, 5.95% Exit Fee2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited, Warrant, Acquisition Date 2/11/2021, Preferred Series D2023-06-300001280784Debt Investments Consumer & Business Services and Tectura Corporation, Senior Secured, Maturity Date July 2024, FIXED 8.25%2022-12-310001280784Equity Investments Software and Nextdoor.com, Inc., Equity, Acquisition Date 8/1/2018, Series Common Stock2022-12-310001280784us-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:GibraltarBusinessCapitalLLCMember2022-06-300001280784Equity Investments Consumer & Business Services and DoorDash, Inc., Equity, Acquisition Date 12/20/2018, Series Common Stock2022-12-310001280784htgc:DividendDeclaredSevenMember2022-11-172022-11-170001280784Equity Investments Drug Discovery & Development and Humanigen, Inc., Equity, Acquisition Date 3/31/2021, Series Common Stock2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputTangibleBookValueMultipleMembersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:DispatchTechnologiesIncMember2023-06-300001280784Warrant Investments and Consumer & Business Services and Carwow LTD, Warrant, Acquisition Date 12/14/2021, Common Stock2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-06-300001280784htgc:SMBCFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300001280784htgc:VidaHealthMemberhtgc:DebtInvestmentsMember2022-12-310001280784htgc:SeniorSecuredDebtMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-12-310001280784Warrant Investments and Software and Reltio, Inc., Warrant, Acquisition Date 6/30/2020, Common Stock2022-12-310001280784Warrant Investments and Sustainable and Renewable Technology and Halio, Inc.2023-06-300001280784Investment Funds & Vehicles Investments (0.28%)2022-12-310001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784Debt 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 Fee2023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMember2023-01-012023-06-300001280784us-gaap:InvestmentUnaffiliatedIssuerMember2023-01-012023-06-300001280784htgc:DebtInvestmentsMemberhtgc:LeapworkApsMember2023-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:DrugDeliveryMember2023-01-012023-06-300001280784Equity Investments Drug Delivery and AcelRx Pharmaceuticals, Inc., Equity, Acquisition Date 12/10/2018, Series Common Stock2022-12-310001280784Warrant Investments and Drug Discovery & Development and Evofem Biosciences, Inc., Warrant, Acquisition Date 6/11/2014, Common Stock2022-12-310001280784htgc:DividendDeclaredOneMember2023-03-092023-03-090001280784Equity Investments Drug Discovery & Development (2.66%)2022-12-310001280784htgc:ManufacturingTechnologyMember2023-06-300001280784htgc:CapitalInExcessOfParValueMember2022-12-310001280784htgc:RecurringFeeIncomeMember2023-01-012023-06-300001280784Debt 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 Fee2023-06-300001280784Warrant Investments and Consumer & Business Services and Provi, Warrant, Acquisition Date 12/22/2022, Common Stock2022-12-310001280784Warrant Investments and Consumer & Business Services and Worldremit Group Limited2023-06-300001280784htgc:JuneTwoThousandTwentyFiveNotesMemberhtgc:UnusedFacilityOtherFeesMember2023-01-012023-06-300001280784Warrant Investments and Software and Simon Data, Inc., Warrant, Acquisition Date 3/22/2023, Common Stock2023-06-300001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:SemiconductorsMember2023-01-012023-06-300001280784us-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberhtgc:GibraltarBusinessCapitalLLCMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784Equity Investments Consumer & Business Services (0.57%)2022-12-310001280784htgc:DiversifiedFinancialServicesMemberhtgc:HerculesAdviserLLCMemberus-gaap:UnsecuredDebtMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-12-310001280784htgc:AffiliateInvestmentsMember2022-01-012022-06-300001280784Debt Investments Software and Flight Schedule Pro, LLC, Senior Secured, Maturity Date October 2027, 1-month SOFR + 7.70%, Floor rate 8.70%2023-06-300001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001280784us-gaap:WarrantMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputMarketEquityAdjustmentMembersrt:WeightedAverageMemberhtgc:ValuationTechniqueMarketAdjustedOpmBacksolveMember2023-06-300001280784Debt Investments Drug Discovery & Development and BiomX, INC, Senior Secured, Maturity Date September 2025, Prime + 5.70%, Floor rate 8.95%, 6.55% Exit Fee2023-06-300001280784Warrant Investments and Software and Automation Anywhere, Inc., Warrant, Acquisition Date 9/23/2022, Common Stock2023-06-300001280784Debt 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 Fee2022-12-310001280784us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueOtherMember2022-12-310001280784htgc:DebtInvestmentsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2023-06-300001280784htgc:SmbcLcFacilityMember2023-01-130001280784Warrant Investments and Software and Esme Learning Solutions, Inc., Warrant, Acquisition Date 1/27/2022, Common Stock2022-12-310001280784Debt Investments Healthcare Services, Other and Vida Health, Inc. Senior Secured, Maturity Date March 2026, Prime + 1.00%, Floor rate 9.20%, Cap rate 10.20%, 4.95% Exit Fee2023-06-300001280784Equity Investments Healthcare Services, Other (0.15%)2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMember2022-12-310001280784us-gaap:WarrantMemberus-gaap:MeasurementInputRevenueMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:MarketComparableCompaniesMember2022-12-310001280784htgc:UnusedFacilityOtherFeesMember2022-04-012022-06-300001280784Warrant Investments and Consumer & Business Services and Snagajob.com, Inc., Warrant, Acquisition Date 4/20/2020, Common Stock2022-12-310001280784htgc:DebtInvestmentsMemberhtgc:IkonScienceLimitedMember2022-12-310001280784htgc:SBADebenturesIssuedOnJanuaryFourteenTwoThousandAndTwentyTwoMember2022-12-310001280784htgc:DrugDeliveryMember2022-12-310001280784htgc:MarchTwoThousandTwentySixBNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:March2026ANotesMember2023-01-012023-06-300001280784htgc:CapitalInExcessOfParValueMember2023-06-300001280784htgc:DividendDeclaredTwoMember2022-03-162022-03-160001280784htgc:AdviserFundsMember2022-05-012022-05-310001280784Warrant Investments and Consumer & Business Products and Savage X Holding, LLC, Warrant, Acquisition Date 6/27/2014, Class A Units2023-06-300001280784us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001280784htgc:InvestmentFundsAndVehiclesMember2023-06-300001280784htgc:InvestmentFundsAndVehiclesMember2022-12-310001280784us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001280784htgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2021-12-310001280784htgc:AcceleratedFeeIncomeEarlyRepaymentsMember2023-04-012023-06-300001280784us-gaap:WarrantMemberhtgc:WarrantInvestmentMember2023-06-300001280784htgc:SustainableAndRenewableTechnologyMemberhtgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:MeasurementInputHypotheticalMarketYieldMemberhtgc:ValuationTechniqueMarketComparableCompaniesMembersrt:WeightedAverageMember2022-12-310001280784Warrant Investments and Consumer & Business Services and Houzz, Inc., Warrant, Acquisition Date 10/29/2019, Common Stock2023-06-300001280784htgc:DebtInvestmentsMemberhtgc:DemandbaseIncorporationMember2023-06-300001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMember2022-04-012022-06-300001280784htgc:HealthcareServicesOtherMember2022-12-310001280784Debt Investments Software (54.28%)2022-12-310001280784htgc:ControlAndAffiliateIssuerInvestmentsMember2022-04-012022-06-300001280784us-gaap:PreferredStockMemberhtgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMemberhtgc:TecturaCorporationMember2022-12-310001280784htgc:ConvertibleNoteDiscountsAmortizationMember2023-01-012023-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:TechnologyMember2022-12-310001280784Debt Investments Drug Discovery & Development and Hibercell, Inc. Senior Secured, Maturity Date May 2025, Prime + 5.40%, Floor rate 8.65%, 4.95% Exit Fee2022-12-310001280784Warrant Investments and Drug Discovery & Development and Akero Therapeutics, Inc., Warrant, Acquisition Date 6/15/2022, Common Stock2022-12-310001280784us-gaap:MeasurementInputDiscountForLackOfMarketabilityMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:MarketComparableCompaniesMember2023-06-300001280784htgc:MUFGBankFacilityMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784htgc:MeasurementInputPremiumDiscountMemberhtgc:DebtInvestmentsMemberhtgc:LowerMiddleMarketMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMember2023-06-300001280784us-gaap:EstimateOfFairValueFairValueDisclosureMemberhtgc:SeptemberTwoThousandTwentySixNotesMember2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-06-300001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784htgc:September2026NotesMember2021-09-160001280784Equity Investments Medical Devices & Equipment and Coronado Aesthetics, LLC, Equity, Acquisition Date 10/15/2021, Series Preferred Series A-22023-06-300001280784us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:CoronadoAestheticsLLCMemberus-gaap:PreferredStockMemberhtgc:MajorityOwnedControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2022-01-012022-06-300001280784htgc:PineappleEnergyLLCMemberhtgc:SeniorSecuredDebtMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2021-12-310001280784Debt Investments Software and Zappi, Inc., Senior Secured, Maturity Date December 2027, 3-month SOFR + 8.03%, Floor rate 9.03%2022-12-310001280784us-gaap:FairValueInputsLevel3Memberhtgc:MarchTwoThousandTwentySixANotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-06-300001280784Debt Investments Healthcare Services, Other (13.76%)2023-06-300001280784htgc:TwoThousandThirtyThreeNotesMemberhtgc:UnderwritingMember2023-06-300001280784us-gaap:InvestmentUnaffiliatedIssuerMember2023-04-012023-06-300001280784Warrant Investments and Consumer & Business Services and SeatGeek, Inc., Warrant, Acquisition Date 6/12/2019, Common Stock2022-12-310001280784htgc:UnusedFacilityOtherFeesMemberhtgc:MarchTwoThousandTwentySixANotesMember2023-04-012023-06-300001280784htgc:DiscountsAmortizationMember2023-01-012023-06-300001280784Equity Investments Medical Devices & Equipment and Gelesis, Inc., Equity, Acquisition Date 11/30/2009, Series Common Stock2023-06-300001280784htgc:ManufacturingTechnologyMemberhtgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMember2022-01-012022-12-310001280784Warrant Investments and Information Services and Signal Media Limited, Warrant, Acquisition Date 6/29/2022, Common Stock2022-12-310001280784htgc:OtherControlInvestmentsMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2023-06-300001280784htgc:JuneTwoThousandTwentyFiveThreeYearNotesMemberhtgc:UnusedFacilityOtherFeesMember2022-01-012022-06-300001280784htgc:MeasurementInputsProbabilityWeightingOfAlternativeOutcomesMemberhtgc:DebtInvestmentsMemberhtgc:ValuationTechniqueLiquidationMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMemberhtgc:TechnologyMember2022-12-310001280784htgc:IndustrySubSectorConcentrationRiskMemberus-gaap:SalesRevenueNetMemberhtgc:ConsumerAndBusinessProductsMember2023-01-012023-06-300001280784Debt 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 Fee2023-06-300001280784htgc:SMBCFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001280784htgc:DebtInvestmentsMemberus-gaap:FairValueInputsLevel3Memberhtgc:ValuationTechniqueMarketComparableCompaniesMemberhtgc:MeasurementInputHypotheticalMarketYieldMembersrt:WeightedAverageMemberhtgc:TechnologyMember2023-06-300001280784us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMember2022-12-310001280784Equity Investments Drug Discovery & Development and uniQure B.V., Equity, Acquisition Date 1/31/2019, Series Common Stock2022-12-31xbrli: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 June 30, 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 July 26, 2023, there were 144,602,208 shares outstanding of the Registrant’s common stock, $0.001 par value.

 


HERCULES CAPITAL, INC.

FORM 10-Q TABLE OF CONTENTS

 

PART I. FINANCIAL INFORMATION

3

Item 1.

Consolidated Financial Statements

3

Consolidated Statements of Assets and Liabilities as of June 30, 2023 (unaudited) and December 31, 2022

3

Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 (unaudited)

4

Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2023 and 2022 (unaudited)

5

Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022 (unaudited)

6

Consolidated Schedule of Investments as of June 30, 2023 (unaudited)

7

Consolidated Schedule of Investments as of December 31, 2022

18

 

Notes to Consolidated Financial Statements (unaudited)

29

Item 2.

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

62

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

76

Item 4.

Controls and Procedures

77

PART II. OTHER INFORMATION

78

Item 1.

Legal Proceedings

78

Item 1A.

Risk Factors

 

78

Item 2.

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

80

Item 3.

Defaults Upon Senior Securities

80

Item 4.

Mine Safety Disclosures

80

Item 5.

Other Information

80

Item 6.

Exhibits and Financial Statement Schedules

81

SIGNATURES

86

 

 

 

 


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)

 

June 30, 2023

 

 

December 31, 2022

 

 

 

(unaudited)

 

 

 

 

Assets

 

 

 

 

 

 

Investments, at fair value:

 

 

 

 

 

 

Non-control/Non-affiliate investments (cost of $3,025,780 and $2,918,425, respectively)

 

$

3,021,866

 

 

$

2,887,497

 

Control investments (cost of $88,317 and $87,271, respectively)

 

 

90,923

 

 

 

76,458

 

 Total investments, at fair value (cost of $3,114,097 and $3,005,696, respectively; fair value amounts related to a VIE $256,076 and $236,585, respectively)

 

 

3,112,789

 

 

 

2,963,955

 

Cash and cash equivalents

 

 

61,695

 

 

 

15,797

 

Restricted cash (amounts related to a VIE $12,339 and $10,079, respectively)

 

 

12,339

 

 

 

10,079

 

Interest receivable

 

 

32,086

 

 

 

31,682

 

Right of use asset

 

 

3,783

 

 

 

4,986

 

Other assets

 

 

1,812

 

 

 

2,356

 

Total assets

 

$

3,224,504

 

 

$

3,028,855

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Debt (net of debt issuance costs - Note 5; amounts related to a VIE $148,251 and $147,957, respectively)

 

$

1,588,608

 

 

$

1,574,351

 

Accounts payable and accrued liabilities

 

 

46,500

 

 

 

47,539

 

Operating lease liability

 

 

3,886

 

 

 

5,506

 

Total liabilities

 

$

1,638,994

 

 

$

1,627,396

 

 

 

 

 

 

 

Net assets consist of:

 

 

 

 

 

 

Common stock, par value

 

$

145

 

 

$

134

 

Capital in excess of par value

 

 

1,468,270

 

 

 

1,341,416

 

Total distributable earnings

 

 

117,095

 

 

 

59,909

 

Total net assets

 

$

1,585,510

 

 

$

1,401,459

 

Total liabilities and net assets

 

$

3,224,504

 

 

$

3,028,855

 

 

 

 

 

 

 

 

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

 

 

144,641

 

 

 

133,045

 

Net asset value per share

 

$

10.96

 

 

$

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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Investment income:

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income:

 

 

 

 

 

 

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

$

107,931

 

 

 

67,511

 

 

$

206,712

 

 

 

127,601

 

Control investments

 

 

1,055

 

 

 

1,144

 

 

 

2,171

 

 

 

2,259

 

Affiliate investments

 

 

 

 

 

76

 

 

 

 

 

 

1,123

 

Total interest and dividend income

 

 

108,986

 

 

 

68,731

 

 

 

208,883

 

 

 

130,983

 

Fee income:

 

 

 

 

 

 

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

7,226

 

 

 

3,367

 

 

 

12,400

 

 

 

6,256

 

Control investments

 

 

19

 

 

 

17

 

 

 

38

 

 

 

33

 

Total fee income

 

 

7,245

 

 

 

3,384

 

 

 

12,438

 

 

 

6,289

 

Total investment income

 

 

116,231

 

 

 

72,115

 

 

 

221,321

 

 

 

137,272

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

17,184

 

 

 

12,698

 

 

 

33,809

 

 

 

24,345

 

Loan fees

 

 

2,464

 

 

 

1,492

 

 

 

4,793

 

 

 

3,334

 

General and administrative

 

 

5,151

 

 

 

4,322

 

 

 

9,277

 

 

 

8,140

 

Tax expenses

 

 

1,980

 

 

 

1,821

 

 

 

3,367

 

 

 

2,533

 

Employee compensation:

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and benefits

 

 

12,841

 

 

 

11,060

 

 

 

27,458

 

 

 

19,389

 

Stock-based compensation

 

 

3,325

 

 

 

3,661

 

 

 

6,511

 

 

 

8,085

 

Total employee compensation

 

 

16,166

 

 

 

14,721

 

 

 

33,969

 

 

 

27,474

 

Total gross operating expenses

 

 

42,945

 

 

 

35,054

 

 

 

85,215

 

 

 

65,826

 

Expenses allocated to the Adviser Subsidiary

 

 

(2,414

)

 

 

(3,070

)

 

 

(5,093

)

 

 

(4,472

)

Total net operating expenses

 

 

40,531

 

 

 

31,984

 

 

 

80,122

 

 

 

61,354

 

Net investment income

 

 

75,700

 

 

 

40,131

 

 

 

141,199

 

 

 

75,918

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

217

 

 

 

(2,133

)

 

 

8,177

 

 

 

(4,600

)

Affiliate investments

 

 

 

 

 

 

 

 

 

 

 

3,772

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

 

(3,686

)

Total net realized gain (loss)

 

 

217

 

 

 

(2,133

)

 

 

8,177

 

 

 

(4,514

)

Net change in unrealized appreciation (depreciation):

 

 

 

 

 

 

 

 

 

 

 

 

Non-control/Non-affiliate investments

 

 

14,285

 

 

 

(51,749

)

 

 

26,544

 

 

 

(90,698

)

Control investments

 

 

4,573

 

 

 

4,728

 

 

 

13,419

 

 

 

6,182

 

Affiliate investments

 

 

 

 

 

(1,295

)

 

 

 

 

 

(542

)

Total net change in unrealized appreciation (depreciation)

 

 

18,858

 

 

 

(48,316

)

 

 

39,963

 

 

 

(85,058

)

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

 

 

19,075

 

 

 

(50,449

)

 

 

48,140

 

 

 

(89,572

)

Net increase (decrease) in net assets resulting from operations

 

$

94,775

 

 

$

(10,318

)

 

$

189,339

 

 

$

(13,654

)

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income before gains and losses per common share:

 

Basic

 

$

0.53

 

 

$

0.32

 

 

$

1.01

 

 

$

0.62

 

Change in net assets resulting from operations per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.66

 

 

$

(0.09

)

 

$

1.35

 

 

$

(0.12

)

Diluted

 

$

0.66

 

 

$

(0.09

)

 

$

1.34

 

 

$

(0.12

)

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

141,390

 

 

 

124,255

 

 

 

138,338

 

 

 

121,292

 

Diluted

 

 

142,084

 

 

 

124,255

 

 

 

139,587

 

 

 

121,292

 

Distributions paid per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.47

 

 

$

0.48

 

 

$

0.94

 

 

$

0.96

 

 

 

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 June 30, 2023

Shares

 

 

Par Value

 

 

of par value

 

 

(loss)

 

 

Assets

 

Balance as of March 31, 2023

 

138,596

 

 

$

139

 

 

$

1,409,168

 

 

$

89,699

 

 

$

1,499,006

 

Net increase (decrease) in net assets resulting from operations

 

 

 

 

 

 

 

 

 

 

94,775

 

 

 

94,775

 

Public offering, net of offering expenses

 

5,062

 

 

 

5

 

 

 

65,401

 

 

 

 

 

 

65,406

 

Issuance of common stock under equity-based award plans

 

955

 

 

 

1

 

 

 

75

 

 

 

 

 

 

76

 

Shares retired on vesting of equity-based awards

 

(44

)

 

 

 

 

 

(10,311

)

 

 

 

 

 

(10,311

)

Distributions reinvested in common stock

 

72

 

 

 

 

 

 

939

 

 

 

 

 

 

939

 

Distributions

 

 

 

 

 

 

 

 

 

 

(67,379

)

 

 

(67,379

)

Stock-based compensation (1)

 

 

 

 

 

 

 

2,998

 

 

 

 

 

 

2,998

 

Balance as of June 30, 2023

 

144,641

 

 

$

145

 

 

$

1,468,270

 

 

$

117,095

 

 

$

1,585,510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

189,339

 

 

 

189,339

 

Public offering, net of offering expenses

 

9,721

 

 

 

9

 

 

 

130,739

 

 

 

 

 

 

130,748

 

Issuance of common stock under equity-based award plans

 

1,902

 

 

 

2

 

 

 

213

 

 

 

 

 

 

215

 

Shares retired on vesting of equity-based awards

 

(160

)

 

 

 

 

 

(11,828

)

 

 

 

 

 

(11,828

)

Distributions reinvested in common stock

 

133

 

 

 

 

 

 

1,879

 

 

 

 

 

 

1,879

 

Distributions

 

 

 

 

 

 

 

 

 

 

(132,153

)

 

 

(132,153

)

Stock-based compensation (1)

 

 

 

 

 

 

 

5,851

 

 

 

 

 

 

5,851

 

Balance as of June 30, 2023

 

144,641

 

 

$

145

 

 

$

1,468,270

 

 

$

117,095

 

 

$

1,585,510

 

(1)
Stock-based compensation includes $30 thousand and $50 thousand of restricted stock and option expense related to director compensation for the three and six months ended June 30, 2023, respectively.

(amounts in thousands)

 

 

 

 

 

 

 

Capital in

 

 

Distributable

 

 

 

 

 

 

Common Stock

 

 

excess

 

 

Earnings

 

 

Net

 

For the Three Months Ended June 30, 2022

 

Shares

 

 

Par Value

 

 

of par value

 

 

(loss)

 

 

Assets

 

Balance as of March 31, 2022

 

 

123,194

 

 

$

124

 

 

$

1,178,019

 

 

$

155,305

 

 

$

1,333,448

 

Net increase (decrease) in net assets resulting from operations

 

 

 

 

 

 

 

 

 

 

 

(10,318

)

 

 

(10,318

)

Public offering, net of offering expenses

 

 

4,061

 

 

 

4

 

 

 

61,851

 

 

 

 

 

 

61,855

 

Issuance of common stock under equity-based award plans

 

 

23

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares retired on vesting of equity-based awards

 

 

(54

)

 

 

 

 

 

(894

)

 

 

 

 

 

(894

)

Distributions reinvested in common stock

 

 

61

 

 

 

 

 

 

921

 

 

 

 

 

 

921

 

Distributions

 

 

 

 

 

 

 

 

 

 

 

(59,993

)

 

 

(59,993

)

Stock-based compensation (1)

 

 

 

 

 

 

 

 

2,721

 

 

 

 

 

 

2,721

 

Balance as of June 30, 2022

 

 

127,285

 

 

$

128

 

 

$

1,242,618

 

 

$

84,994

 

 

$

1,327,740

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

(13,654

)

 

 

(13,654

)

Public offering, net of offering expenses

 

 

8,921

 

 

 

9

 

 

 

147,095

 

 

 

 

 

 

147,104

 

Issuance of common stock under equity-based award plans

 

 

825

 

 

 

1

 

 

 

453

 

 

 

 

 

 

454

 

Shares retired on vesting of equity-based awards

 

 

(182

)

 

 

 

 

 

(4,620

)

 

 

 

 

 

(4,620

)

Distributions reinvested in common stock

 

 

121

 

 

 

 

 

 

1,946

 

 

 

 

 

 

1,946

 

Issuance of Convertible Notes

 

 

981

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

Distributions

 

 

 

 

 

 

 

 

 

 

 

(117,875

)

 

 

(117,875

)

Stock-based compensation (1)

 

 

 

 

 

 

 

 

5,838

 

 

 

 

 

 

5,838

 

Balance as of June 30, 2022

 

 

127,285

 

 

$

128

 

 

$

1,242,618

 

 

$

84,994

 

 

$

1,327,740

 

(1)
Stock-based compensation includes $36 thousand and $76 thousand of restricted stock and option expense related to director compensation for the three and six months ended June 30, 2022, respectively.

See notes to consolidated financial statements

5


HERCULES CAPITAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(in thousands)

For the Six Months Ended June 30,

 

 

2023

 

 

2022

 

Cash flows provided by (used in) operating activities:

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

$

189,339

 

 

$

(13,654

)

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

 

 

 

Purchases of investments

 

(834,759

)

 

 

(790,706

)

Fundings assigned to Adviser Funds

 

199,866

 

 

 

189,806

 

Principal and fee repayments received and proceeds from the sale of debt investments

 

516,535

 

 

 

237,178

 

Proceeds from the sale of equity and warrant investments

 

30,074

 

 

 

7,749

 

Net change in unrealized (appreciation) depreciation

 

(39,963

)

 

 

85,058

 

Net realized (gain) loss

 

(8,177

)

 

 

828

 

Accretion of paid-in-kind principal

 

(11,347

)

 

 

(9,943

)

Accretion of loan discounts

 

(3,211

)

 

 

(1,982

)

Accretion of loan discount on convertible notes

 

 

 

 

112

 

Accretion of loan exit fees

 

(11,956

)

 

 

(12,057

)

Change in loan income, net of collections

 

12,421

 

 

 

7,119

 

Unearned fees related to unfunded commitments

 

(68

)

 

 

1,819

 

Realized loss on debt extinguishment

 

 

 

 

364

 

Amortization of debt fees and issuance costs

 

3,474

 

 

 

2,570

 

Depreciation and amortization

 

108

 

 

 

110

 

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

 

5,851

 

 

 

5,838

 

Change in operating assets and liabilities:

 

 

 

Interest receivable

 

(393

)

 

 

(4,768

)

Other assets

 

7,546

 

 

 

482

 

Accrued liabilities

 

(2,574

)

 

 

(12,630

)

Net cash provided by (used in) operating activities

 

52,766

 

 

 

(306,707

)

 

 

 

 

 

Cash flows provided by (used in) investing activities:

 

 

 

Purchases of capital equipment

 

(379

)

 

 

(74

)

Net cash provided by (used in) investing activities

 

(379

)

 

 

(74

)

 

 

 

 

 

Cash flows provided by (used in) financing activities:

 

 

 

Issuance of common stock

 

132,329

 

 

 

148,721

 

Offering expenses

 

(1,581

)

 

 

(1,617

)

Retirement of employee shares, net

 

(11,613

)

 

 

(4,166

)

Distributions paid

 

(130,274

)

 

 

(115,929

)

Issuance of debt

 

380,000

 

 

 

1,124,237

 

Repayment of debt

 

(368,000

)

 

 

(854,374

)

Debt issuance costs

 

 

 

 

(6,076

)

Fees paid for credit facilities and debentures

 

(5,090

)

 

 

(1,600

)

Net cash provided by (used in) financing activities

 

(4,229

)

 

 

289,196

 

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

 

48,158

 

 

 

(17,585

)

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

 

25,876

 

 

 

136,265

 

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

$

74,034

 

 

$

118,680

 

 

 

 

 

 

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

 

Interest paid

$

33,664

 

 

$

22,642

 

Income tax, including excise tax, paid

$

5,151

 

 

$

7,281

 

Distributions reinvested

$

1,879

 

 

$

1,946

 

(1)
Stock-based compensation includes $50 thousand and $76 thousand of restricted stock and option expense related to director compensation for the six months ended June 30, 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 Six Months Ended June 30,

 

 

2023

 

 

2022

 

Cash and cash equivalents

$

61,695

 

 

$

115,309

 

Restricted cash

 

12,339

 

 

 

3,371

 

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

$

74,034

 

 

$

118,680

 

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

June 30, 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

 

$

5,023

 

 

$

5,028

 

 

$

5,055

 

 

(13)(14)(17)

PathAI, Inc.

 

Senior Secured

 

January 2027

 

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

 

$

28,000

 

 

 

27,696

 

 

 

27,969

 

 

(17)

Subtotal: Biotechnology Tools (2.08%)*

 

 

 

 

 

 

 

32,724

 

 

 

33,024

 

 

 

Communications & Networking

 

 

 

 

 

 

 

 

 

 

 

 

 

Aryaka Networks, Inc.

 

Senior Secured

 

July 2026

 

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

 

$

15,073

 

 

 

14,922

 

 

 

15,407

 

 

(14)(17)(19)

Cytracom Holdings LLC

 

Senior Secured

 

February 2025

 

3-month SOFR + 9.62%, Floor rate 10.62%

 

$

3,284

 

 

 

3,245

 

 

 

3,266

 

 

(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

 

$

85,103

 

 

 

86,546

 

 

 

86,546

 

 

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

Subtotal: Communications & Networking (6.64%)*

 

 

 

 

 

 

 

104,713

 

 

 

105,219

 

 

 

Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

AppDirect, Inc.

 

Senior Secured

 

April 2026

 

Prime + 5.50%, Floor rate 8.75%, 7.12% Exit Fee

 

$

55,790

 

 

 

57,154

 

 

 

58,178

 

 

(12)

Carwow LTD

 

Senior Secured

 

December 2024

 

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

 

£

19,327

 

 

 

26,412

 

 

 

24,845

 

 

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

Collective Health, Inc.

 

Senior Secured

 

September 2023

 

Prime + 4.75%, Floor rate 12.50%

 

$

4,000

 

 

 

3,985

 

 

 

3,985

 

 

 

Houzz, Inc.

 

Convertible Debt

 

May 2028

 

PIK Interest 7.00%

 

$

22,494

 

 

 

22,494

 

 

 

22,407

 

 

(9)(14)

Jobandtalent USA, Inc.

 

Senior Secured

 

February 2025

 

1-month SOFR + 8.75%, Floor rate 9.75%, 3.00% Exit Fee

 

$

14,000

 

 

 

13,969

 

 

 

14,056

 

 

(5)(10)

Provi

 

Senior Secured

 

December 2026

 

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

 

$

15,000

 

 

 

14,819

 

 

 

14,745

 

 

(15)

Rhino Labs, Inc.

 

Senior Secured

 

March 2024

 

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

 

$

12,908

 

 

 

12,841

 

 

 

12,841

 

 

(14)(15)

RVShare, LLC

 

Senior Secured

 

December 2026

 

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

 

$

28,296

 

 

 

27,892

 

 

 

28,114

 

 

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

SeatGeek, Inc.

 

Senior Secured

 

May 2026

 

Prime + 7.00%, Floor rate 10.50%, PIK Interest 0.50%, 1.00% Exit Fee

 

$

25,135

 

 

 

25,008

 

 

 

25,836

 

 

(11)(14)(16)(17)

 

Senior Secured

 

July 2025

 

Prime + 2.50%, Floor rate 10.75%, PIK Interest 0.50%

 

$

58,125

 

 

 

57,689

 

 

 

57,689

 

 

(16)(17)

Total SeatGeek, Inc.

 

 

 

 

 

 

 

$

83,260

 

 

 

82,697

 

 

 

83,525

 

 

 

Skyword, Inc.

 

Senior Secured

 

November 2026

 

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

 

$

9,087

 

 

 

9,051

 

 

 

9,093

 

 

(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

 

 

 

7,073

 

 

(7)

Total Tectura Corporation

 

 

 

 

 

 

 

$

31,953

 

 

 

21,513

 

 

 

7,073

 

 

 

Thumbtack, Inc.

 

Senior Secured

 

April 2026

 

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

 

$

10,180

 

 

 

10,180

 

 

 

10,399

 

 

(12)(14)(17)

Udacity, Inc.

 

Senior Secured

 

September 2024

 

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

 

$

52,464

 

 

 

53,106

 

 

 

51,752

 

 

(12)(14)

Veem, Inc.

 

Senior Secured

 

March 2025

 

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

 

$

5,075

 

 

 

5,085

 

 

 

5,124

 

 

(13)(14)

 

Senior Secured

 

March 2025

 

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

 

$

5,071

 

 

 

5,096

 

 

 

5,194

 

 

(14)

Total Veem, Inc.

 

 

 

 

 

 

 

$

10,146

 

 

 

10,181

 

 

 

10,318

 

 

 

Worldremit Group Limited

 

Senior Secured

 

February 2025

 

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

 

$

88,250

 

 

 

88,626

 

 

 

88,741

 

 

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

 

 

Senior Secured

 

February 2025

 

1-month SOFR + 9.25%, Floor rate 10.25%, 3.20% Exit Fee

 

$

6,250

 

 

 

6,252

 

 

 

6,270

 

 

(5)(10)(16)(19)

Total Worldremit Group Limited

 

 

 

 

 

 

 

$

94,500

 

 

 

94,878

 

 

 

95,011

 

 

 

Subtotal: Consumer & Business Services (28.15%)*

 

 

 

 

 

 

 

461,172

 

 

 

446,342

 

 

 

Diversified Financial Services

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Unsecured

 

September 2026

 

FIXED 11.50%

 

$

25,000

 

 

 

24,613

 

 

 

24,613

 

 

(7)(20)

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%

 

$

10,181

 

 

 

9,984

 

 

 

9,984

 

 

(14)(17)(19)

Subtotal: Diversified Financial Services (2.94%)*

 

 

 

 

 

 

 

46,597

 

 

 

46,597

 

 

 

 

See notes to consolidated financial statements

7


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 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

 

 

$

12,385

 

 

$

12,794

 

 

(10)(13)(17)

Aldeyra Therapeutics, Inc.

 

Senior Secured

 

October 2024

 

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

 

$

15,000

 

 

 

16,047

 

 

 

16,179

 

 

(11)

Alladapt Immunotherapeutics Inc.

 

Senior Secured

 

September 2026

 

Prime + 3.65%, Floor rate 8.40%, Cap rate 10.90%, 5.30% Exit Fee

 

$

30,000

 

 

 

29,904

 

 

 

29,747

 

 

(13)

AmplifyBio, LLC

 

Senior Secured

 

January 2027

 

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

 

$

24,000

 

 

 

23,883

 

 

 

23,728

 

 

(15)

ATAI Life Sciences N.V.

 

Senior Secured

 

August 2026

 

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

 

$

10,500

 

 

 

10,592

 

 

 

10,633

 

 

(5)(10)

Axsome Therapeutics, Inc.

 

Senior Secured

 

January 2028

 

Prime + 2.20%, Floor rate 9.95%, Cap rate 10.70%, 5.78% Exit Fee

 

$

143,350

 

 

 

142,818

 

 

 

143,739

 

 

(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

 

 

 

11,818

 

 

 

11,542

 

 

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

BiomX, INC

 

Senior Secured

 

September 2025

 

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

 

$

8,008

 

 

 

8,277

 

 

 

8,246

 

 

(5)(10)(11)

BridgeBio Pharma, Inc.

 

Senior Secured

 

November 2026

 

FIXED 9.00%, 2.00% Exit Fee

 

$

37,880

 

 

 

37,718

 

 

 

34,033

 

 

(12)(13)(14)

Cellarity, Inc.

 

Senior Secured

 

June 2026

 

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

 

$

30,000

 

 

 

30,056

 

 

 

30,478

 

 

(13)(15)

COMPASS Pathways plc

 

Senior Secured

 

July 2027

 

Prime + 1.50%, Floor rate 9.75%, PIK Interest 1.40%, 4.75% Exit Fee

 

$

24,000

 

 

 

23,443

 

 

 

23,443

 

 

(5)(10)

Corium, Inc.

 

Senior Secured

 

September 2026

 

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

 

$

132,675

 

 

 

134,545

 

 

 

136,450

 

 

(13)(16)

Curevo, Inc.

 

Senior Secured

 

June 2027

 

Prime + 1.70%, Floor rate 9.70%, 6.95% Exit Fee

 

$

10,000

 

 

 

9,674

 

 

 

9,674

 

 

(15)

Eloxx Pharmaceuticals, Inc.

 

Senior Secured

 

April 2025

 

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

 

$

5,000

 

 

 

5,642

 

 

 

5,552

 

 

(15)

enGene, Inc.

 

Senior Secured

 

July 2025

 

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

 

$

11,000

 

 

 

11,230

 

 

 

11,264

 

 

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

G1 Therapeutics, Inc.

 

Senior Secured

 

November 2026

 

Prime + 5.65%, Floor rate 9.15%, 11.41% Exit Fee

 

$

38,750

 

 

 

39,386

 

 

 

39,500

 

 

(11)(12)(15)

Geron Corporation

 

Senior Secured

 

April 2025

 

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

 

$

18,500

 

 

 

19,243

 

 

 

19,482

 

 

(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

 

$

22,799

 

 

 

22,874

 

 

 

22,766

 

 

(13)(14)(17)

Hibercell, Inc.

 

Senior Secured

 

May 2025

 

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

 

$

16,386

 

 

 

16,837

 

 

 

16,770

 

 

(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

 

$

20,238

 

 

 

20,209

 

 

 

19,163

 

 

(14)(15)

Iveric Bio, Inc.

 

Senior Secured

 

August 2027

 

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

 

$

49,500

 

 

 

49,336

 

 

 

52,631

 

 

(10)(12)(17)

Kura Oncology, Inc.

 

Senior Secured

 

November 2027

 

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

 

$

5,500

 

 

 

5,489

 

 

 

5,606

 

 

(10)(15)(17)

Locus Biosciences, Inc.

 

Senior Secured

 

July 2025

 

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

 

$

6,854

 

 

 

7,042

 

 

 

7,049

 

 

(15)

Madrigal Pharmaceutical, Inc.

 

Senior Secured

 

May 2026

 

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

 

$

68,000

 

 

 

67,896

 

 

 

68,481

 

 

(10)

Phathom Pharmaceuticals, Inc.

 

Senior Secured

 

October 2026

 

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

 

$

96,262

 

 

 

97,177

 

 

 

96,827

 

 

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

Redshift Bioanalytics, Inc.

 

Senior Secured

 

January 2026

 

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

 

$

5,000

 

 

 

5,001

 

 

 

5,027

 

 

(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

 

$

20,906

 

 

 

20,904

 

 

 

21,240

 

 

(10)(14)

Tarsus Pharmaceuticals, Inc.

 

Senior Secured

 

February 2027

 

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

 

$

10,313

 

 

 

10,372

 

 

 

10,434

 

 

(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

 

$

65,023

 

 

 

65,045

 

 

 

65,130

 

 

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

uniQure B.V.

 

Senior Secured

 

January 2027

 

Prime + 4.70%, Floor rate 7.95%, 6.10% Exit Fee

 

$

70,000

 

 

 

70,682

 

 

 

72,066

 

 

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

 

See notes to consolidated financial statements

8


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 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

 

$

16,766

 

 

$

18,014

 

 

$

17,999

 

 

(13)

Valo Health, LLC

 

Senior Secured

 

May 2024

 

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

 

$

5,271

 

 

 

5,621

 

 

 

5,621

 

 

(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

 

 

 

2,027

 

 

 

1,950

 

 

(10)(13)

X4 Pharmaceuticals, Inc.

 

Senior Secured

 

April 2026

 

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

 

$

32,500

 

 

 

32,658

 

 

 

32,747

 

 

(11)(12)(13)

Subtotal: Drug Discovery & Development (68.62%)*

 

 

 

 

 

 

 

1,083,845

 

 

 

1,087,991

 

 

 

Electronics & Computer Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

Locus Robotics Corp.

 

Senior Secured

 

June 2026

 

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

 

$

18,281

 

 

 

18,256

 

 

 

18,942

 

 

(17)(19)

Subtotal: Electronics & Computer Hardware (1.19%)*

 

 

 

 

 

 

 

18,256

 

 

 

18,942

 

 

 

Healthcare Services, Other

 

 

 

 

 

 

 

 

 

 

 

 

 

Better Therapeutics, Inc.

 

Senior Secured

 

August 2025

 

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

 

$

11,314

 

 

 

11,608

 

 

 

11,500

 

 

(15)

Blue Sprig Pediatrics, Inc.

 

Senior Secured

 

November 2026

 

1-month SOFR + 5.00%, Floor rate 6.00%, PIK Interest 4.45%

 

$

57,658

 

 

 

56,974

 

 

 

55,819

 

 

(11)(13)(14)

Carbon Health Technologies, Inc.

 

Senior Secured

 

March 2025

 

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

 

$

46,125

 

 

 

46,859

 

 

 

47,142

 

 

(11)(13)

Equality Health, LLC

 

Senior Secured

 

February 2026

 

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

 

$

53,999

 

 

 

53,646

 

 

 

54,269

 

 

(11)(12)(14)

Main Street Rural, Inc.

 

Senior Secured

 

July 2027

 

Prime + 1.95%, Floor rate 9.95%, 6.85% Exit Fee

 

$

17,500

 

 

 

17,331

 

 

 

17,331

 

 

(15)

Modern Life, Inc.

 

Senior Secured

 

February 2027

 

Prime + 2.75%, Floor rate 8.75%, 3.00% Exit Fee

 

$

13,000

 

 

 

12,765

 

 

 

12,765

 

 

(13)(17)

Vida Health, Inc.

 

Senior Secured

 

March 2026

 

Prime + 1.00%, Floor rate 9.20%, Cap rate 10.20%, 4.95% Exit Fee

 

$

20,000

 

 

 

19,810

 

 

 

19,359

 

 

(11)(17)

Subtotal: Healthcare Services, Other (13.76%)*

 

 

 

 

 

 

 

218,993

 

 

 

218,185

 

 

 

Information Services

 

 

 

 

 

 

 

 

 

 

 

 

 

Capella Space Corp.

 

Senior Secured

 

November 2025

 

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

 

$

20,362

 

 

 

20,826

 

 

 

20,949

 

 

(14)(15)

Saama Technologies, LLC

 

Senior Secured

 

July 2027

 

Prime + 0.70%, Floor rate 8.95%, PIK Interest 2.00%, 2.95% Exit Fee

 

$

11,625

 

 

 

11,480

 

 

 

11,480

 

 

(17)

Signal Media Limited

 

Senior Secured

 

June 2025

 

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

 

$

3,000

 

 

 

2,970

 

 

 

2,955

 

 

(5)(10)(17)

Yipit, LLC

 

Senior Secured

 

September 2026

 

1-month SOFR + 9.03%, Floor rate 10.03%

 

$

31,875

 

 

 

31,423

 

 

 

31,987

 

 

(17)(18)

Subtotal: Information Services (4.25%)*

 

 

 

 

 

 

 

66,699

 

 

 

67,371

 

 

 

Manufacturing Technology

 

 

 

 

 

 

 

 

 

 

 

 

 

Bright Machines, Inc.

 

Senior Secured

 

April 2025

 

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

 

$

10,231

 

 

 

10,252

 

 

 

10,356

 

 

(13)

MacroFab, Inc.

 

Senior Secured

 

March 2026

 

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

 

$

20,254

 

 

 

19,995

 

 

 

21,608

 

 

(14)

Ouster, Inc.

 

Senior Secured

 

May 2026

 

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

 

$

14,000

 

 

 

14,110

 

 

 

14,585

 

 

(10)(13)

Subtotal: Manufacturing Technology (2.94%)*

 

 

 

 

 

 

 

44,357

 

 

 

46,549

 

 

 

Media/Content/Info

 

 

 

 

 

 

 

 

 

 

 

 

 

Fever Labs, Inc.

 

Senior Secured

 

September 2026

 

Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee

 

$

6,667

 

 

 

6,619

 

 

 

6,682

 

 

(19)

 

 

Senior Secured

 

September 2025

 

Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee

 

$

1,500

 

 

 

1,495

 

 

 

1,503

 

 

(19)

 

 

Senior Secured

 

December 2025

 

Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee

 

$

1,667

 

 

 

1,656

 

 

 

1,664

 

 

(19)

 

 

Senior Secured

 

March 2026

 

Prime + 3.50%, Floor rate 9.00%, 1.00% Exit Fee

 

$

1,667

 

 

 

1,648

 

 

 

1,648

 

 

(19)

Total Fever Labs, Inc.

 

 

 

 

 

 

 

$

11,501

 

 

 

11,418

 

 

 

11,497

 

 

 

Subtotal: Media/Content/Info (0.73%)*

 

 

 

 

 

 

 

11,418

 

 

 

11,497

 

 

 

Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3GTMS, LLC

 

Senior Secured

 

February 2025

 

6-month SOFR + 9.27%, Floor rate 10.27%

 

$

13,174

 

 

 

13,061

 

 

 

13,016

 

 

(11)(17)(18)

Agilence, Inc.

 

Senior Secured

 

October 2026

 

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

 

$

9,259

 

 

 

9,063

 

 

 

9,093

 

 

(12)(17)(18)

Alchemer LLC

 

Senior Secured

 

May 2028

 

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

 

$

20,908

 

 

 

20,475

 

 

 

21,158

 

 

(13)(17)(18)

Annex Cloud

 

Senior Secured

 

February 2027

 

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

 

$

8,479

 

 

 

8,290

 

 

 

8,319

 

 

(13)(17)

Automation Anywhere, Inc.

 

Senior Secured

 

September 2027

 

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

 

$

19,600

 

 

 

19,197

 

 

 

19,782

 

 

(11)(17)(19)

Babel Street

 

Senior Secured

 

December 2027

 

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

 

$

45,000

 

 

 

43,889

 

 

 

44,387

 

 

(15)(17)(18)

 

 

See notes to consolidated financial statements

9


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 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 2026

 

Prime + 3.70%, Floor rate 9.20%, PIK Interest 1.00%, 3.95% Exit Fee

 

$

30,268

 

 

$

30,313

 

 

$

30,184

 

 

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

Campaign Monitor Limited

 

Senior Secured

 

November 2025

 

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

 

$

33,000

 

 

 

32,640

 

 

 

33,000

 

 

(13)(19)

Catchpoint Systems, Inc.

 

Senior Secured

 

June 2026

 

1-month SOFR + 8.76%, Floor rate 9.76%

 

$

10,124

 

 

 

9,952

 

 

 

10,081

 

 

(18)

Ceros, Inc.

 

Senior Secured

 

September 2026

 

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

 

$

22,973

 

 

 

22,547

 

 

 

23,145

 

 

(17)(18)

Constructor.io Corporation

 

Senior Secured

 

July 2027

 

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

 

$

4,688

 

 

 

4,582

 

 

 

4,736

 

 

(13)(17)(18)

Convoy, Inc.

 

Senior Secured

 

March 2026

 

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

 

$

74,719

 

 

 

74,304

 

 

 

74,805

 

 

(14)(19)

Copper CRM, Inc

 

Senior Secured

 

March 2025

 

Prime + 4.50%, Floor rate 8.25%, Cap rate 10.25%, PIK Interest 1.95%, 4.32% Exit Fee

 

$

9,848

 

 

 

9,937

 

 

 

9,645

 

 

(11)(14)

Cutover, Inc.

 

Senior Secured

 

October 2025

 

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

 

$

5,500

 

 

 

5,489

 

 

 

5,629

 

 

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

Cybermaxx Intermediate Holdings, Inc.

 

Senior Secured

 

August 2026

 

6-month SOFR + 8.38%, Floor rate 9.38%

 

$

7,975

 

 

 

7,830

 

 

 

7,557

 

 

(13)(17)

Cybermaxx Intermediate Holdings, Inc.

 

Senior Secured

 

August 2026

 

6-month SOFR + 12.11%, Floor rate 13.11%

 

$

2,553

 

 

 

2,493

 

 

 

2,604

 

 

(17)

Total Cybermaxx Intermediate Holdings, Inc.

 

 

 

 

 

 

 

$

10,528

 

 

 

10,323

 

 

 

10,161

 

 

 

Dashlane, Inc.

 

Senior Secured

 

July 2025

 

Prime + 3.05%, Floor rate 7.55%, PIK Interest 1.10%, 2.39% Exit Fee

 

$

42,611

 

 

 

42,648

 

 

 

42,749

 

 

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

Dispatch Technologies, Inc.

 

Senior Secured

 

April 2028

 

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

 

$

7,500

 

 

 

7,309

 

 

 

7,414

 

 

(17)(18)

Eigen Technologies Ltd.

 

Senior Secured

 

April 2025

 

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

 

$

3,750

 

 

 

3,772

 

 

 

3,746

 

 

(5)(10)

Elation Health, Inc.

 

Senior Secured

 

March 2026

 

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

 

$

5,071

 

 

 

4,935

 

 

 

5,059

 

 

(14)(17)(19)

Enmark Systems, Inc.

 

Senior Secured

 

September 2026

 

3-month SOFR + 6.75%, Floor rate 7.75%, PIK Interest 2.14%

 

$

8,313

 

 

 

8,161

 

 

 

8,263

 

 

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

Flight Schedule Pro, LLC

 

Senior Secured

 

October 2027

 

1-month SOFR + 7.70%, Floor rate 8.70%

 

$

5,948

 

 

 

5,785

 

 

 

5,859

 

 

(17)(18)

Fortified Health Security

 

Senior Secured

 

December 2027

 

6-month SOFR + 7.54%, Floor rate 8.54%

 

$

7,000

 

 

 

6,837

 

 

 

6,796

 

 

(11)(17)(18)

Ikon Science Limited

 

Senior Secured

 

October 2024

 

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

 

$

6,388

 

 

 

6,284

 

 

 

6,363

 

 

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

Imperva, Inc.

 

Senior Secured

 

January 2027

 

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

 

$

20,000

 

 

 

19,887

 

 

 

20,200

 

 

(19)

Khoros (p.k.a Lithium Technologies)

 

Senior Secured

 

January 2024

 

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

 

$

57,113

 

 

 

57,037

 

 

 

57,037

 

 

(17)

Kore.ai, Inc.

 

Senior Secured

 

April 2027

 

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

 

$

30,114

 

 

 

29,707

 

 

 

29,503

 

 

(14)

Leapwork ApS

 

Senior Secured

 

February 2026

 

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

 

$

3,776

 

 

 

3,751

 

 

 

3,751

 

 

(5)(10)(12)(14)(17)

Loftware, Inc.

 

Senior Secured

 

March 2028

 

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

 

$

25,900

 

 

 

25,278

 

 

 

25,278

 

 

(17)(18)

LogicSource

 

Senior Secured

 

July 2027

 

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

 

$

13,300

 

 

 

13,050

 

 

 

13,287

 

 

(17)

Mobile Solutions Services

 

Senior Secured

 

December 2025

 

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

 

$

18,366

 

 

 

18,059

 

 

 

17,821

 

 

(18)

 

See notes to consolidated financial statements

10


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2023 (unaudited)

(dollars in thousands)

 

Portfolio Company

 

Type of
Investment

 

Maturity Date

 

Interest Rate and Floor (1)

Principal
Amount

 

Cost (2)

 

Value

 

Footnotes

Nuvolo Technologies Corporation

 

Senior Secured

 

July 2026

 

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

 

$

22,500

 

 

$

22,644

 

 

$

22,975

 

 

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

Omeda Holdings, LLC

 

Senior Secured

 

July 2027

 

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

 

$

7,519

 

 

 

7,299

 

 

 

7,398

 

 

(11)(17)(18)

Riviera Partners LLC

 

Senior Secured

 

April 2027

 

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

 

$

25,988

 

 

 

25,477

 

 

 

24,871

 

 

(17)(18)

Salary.com, LLC

 

Senior Secured

 

September 2027

 

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

 

$

17,910

 

 

 

17,591

 

 

 

17,577

 

 

(18)

ShadowDragon, LLC

 

Senior Secured

 

December 2026

 

6-month SOFR + 8.95%, Floor rate 9.95%

 

$

6,000

 

 

 

5,868

 

 

 

5,739

 

 

(17)(18)

Simon Data, Inc.

 

Senior Secured

 

March 2027

 

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

 

$

15,058

 

 

 

14,980

 

 

 

14,962

 

 

(14)

Sisense Ltd.

 

Senior Secured

 

July 2027

 

Prime + 1.50%, Floor rate 9.50%, PIK Interest 1.95%, 2.55% Exit Fee

 

$

34,500

 

 

 

33,984

 

 

 

33,984

 

 

(5)(10)

Streamline Healthcare Solutions

 

Senior Secured

 

March 2028

 

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

 

$

13,200

 

 

 

12,931

 

 

 

12,932

 

 

(17)(18)

Sumo Logic, Inc.

 

Senior Secured

 

May 2030

 

3-month SOFR + 6.50%, Floor rate 7.50%

 

$

23,000

 

 

 

22,432

 

 

 

22,432

 

 

(17)

Tact.ai Technologies, Inc.

 

Senior Secured

 

February 2024

 

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

 

$

2,672

 

 

 

2,657

 

 

 

2,657

 

 

(14)

ThreatConnect, Inc.

 

Senior Secured

 

May 2026

 

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

 

$

10,976

 

 

 

10,753

 

 

 

10,823

 

 

(17)(18)

Tipalti Solutions Ltd.

 

Senior Secured

 

April 2027

 

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

 

$

10,541

 

 

 

10,416

 

 

 

10,416

 

 

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

VideoAmp, Inc.

 

Senior Secured

 

February 2025

 

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

 

$

63,585

 

 

 

63,830

 

 

 

68,207

 

 

(14)(15)(19)

Zappi, Inc.

 

Senior Secured

 

December 2027

 

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

 

$

9,000

 

 

 

8,797

 

 

 

8,803

 

 

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

Zimperium, Inc.

 

Senior Secured

 

May 2027

 

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

 

$

16,313

 

 

 

16,028

 

 

 

16,235

 

 

(17)(18)

Subtotal: Software (53.63%)*

 

 

 

 

 

 

 

842,249

 

 

 

850,278

 

 

 

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

 

$

4,067

 

 

 

4,053

 

 

 

4,091

 

 

(13)(14)

Pineapple Energy LLC

 

Senior Secured

 

June 2027

 

FIXED 10.00%

 

$

1,876

 

 

 

1,876

 

 

 

1,856

 

 

(19)

Subtotal: Sustainable and Renewable Technology (0.38%)*

 

 

 

 

 

 

 

5,929

 

 

 

5,947

 

 

 

Total: Debt Investments (185.30%)*

 

 

 

 

 

 

$

2,936,952

 

 

$

2,937,942

 

 

 

 

 

 

Portfolio Company

 

Type of
Investment

Acquisition Date (6)

Series (3)

 

Shares

 

 

Cost (2)

 

 

Value

 

 

Footnotes

Equity Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer & Business Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grove Collaborative, Inc.

 

Equity

4/30/2021

Common Stock

 

 

12,260

 

 

$

433

 

 

$

22

 

 

(4)

Savage X Holding, LLC

 

Equity

4/30/2010

Class A Units

 

 

42,137

 

 

 

13

 

 

 

144

 

 

 

TechStyle, Inc.

 

Equity

4/30/2010

Common Stock

 

 

42,989

 

 

 

128

 

 

 

87

 

 

 

TFG Holding, Inc.

 

Equity

4/30/2010

Common Stock

 

 

42,989

 

 

 

89

 

 

 

72

 

 

 

Subtotal: Consumer & Business Products (0.02%)*

 

 

 

 

 

663

 

 

 

325

 

 

 

Consumer & Business Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carwow LTD

 

Equity

12/15/2021

Preferred Series D-4

 

 

199,742

 

 

 

1,151

 

 

 

511

 

 

(5)(10)

DoorDash, Inc.

 

Equity

12/20/2018

Common Stock

 

 

81,996

 

 

 

946

 

 

 

6,267

 

 

(4)

Lyft, Inc.

 

Equity

12/26/2018

Common Stock

 

 

100,738

 

 

 

5,263

 

 

 

966

 

 

(4)

Nerdy Inc.

 

Equity

9/17/2021

Common Stock

 

 

100,000

 

 

 

1,000

 

 

 

417

 

 

(4)

OfferUp, Inc.

 

Equity

10/25/2016

Preferred Series A

 

 

286,080

 

 

 

1,663

 

 

 

450

 

 

 

 

Equity

10/25/2016

Preferred Series A-1

 

 

108,710

 

 

 

632

 

 

 

171

 

 

 

Total OfferUp, Inc.

 

 

 

 

 

 

394,790

 

 

 

2,295

 

 

 

621

 

 

 

Oportun

 

Equity

6/28/2013

Common Stock

 

 

48,365

 

 

 

577

 

 

 

289

 

 

(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

 

 

 

666

 

 

 

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 (0.61%)*

 

 

 

 

 

13,171

 

 

 

9,737

 

 

 

 

 

 

 

See notes to consolidated financial statements

11


HERCULES CAPITAL, INC.

CONSOLIDATED SCHEDULE OF INVESTMENTS

June 30, 2023 (unaudited)

(dollars in thousands)

Portfolio Company

 

Type of
Investment

Acquisition Date (6)

Series (3)

 

Shares

 

 

Cost (2)

 

 

Value

 

 

Footnotes

Diversified Financial Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Equity

3/1/2018

Member Units

 

 

1

 

 

$

29,006

 

 

$

19,779

 

 

(7)(20)

Hercules Adviser LLC

 

Equity

3/26/2021

Member Units

 

 

1

 

 

 

35

 

 

 

27,161

 

 

(7)

Newfront Insurance Holdings, Inc.

 

Equity

9/30/2021

Preferred Series D-2

 

 

210,282

 

 

 

403

 

 

 

373

 

 

 

Subtotal: Diversified Financial Services (2.98%)*

 

 

 

 

 

29,444

 

 

 

47,313

 

 

 

Drug Delivery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AcelRx Pharmaceuticals, Inc.

 

Equity

12/10/2018

Common Stock

 

 

8,836

 

 

 

1,329

 

 

 

10

 

 

(4)

Aytu BioScience, Inc.

 

Equity

3/28/2014

Common Stock

 

 

680

 

 

 

1,500

 

 

 

1

 

 

(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

 

 

 

12

 

 

(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

 

 

 

4

 

 

(4)

Axsome Therapeutics, Inc.

 

Equity

5/9/2022

Common Stock

 

 

127,021

 

 

 

4,165

 

 

 

9,128

 

 

(4)(10)(16)

Bicycle Therapeutics PLC

 

Equity

10/5/2020

Common Stock

 

 

98,100

 

 

 

1,871

 

 

 

2,503

 

 

(4)(5)(10)

BridgeBio Pharma, Inc.

 

Equity

6/21/2018

Common Stock

 

 

231,329

 

 

 

2,255

 

 

 

3,979

 

 

(4)

Dare Biosciences, Inc.

 

Equity

1/8/2015

Common Stock

 

 

13,550

 

 

 

1,000

 

 

 

12

 

 

(4)

Dynavax Technologies

 

Equity

7/22/2015

Common Stock

 

 

20,000

 

 

 

550

 

 

 

258

 

 

(4)(10)

Gritstone Bio, Inc.

 

Equity

10/26/2022

Common Stock

 

 

442,477

 

 

 

1,000

 

 

 

863

 

 

(4)

Hibercell, Inc.

 

Equity

5/7/2021

Preferred Series B

 

 

3,466,840

 

 

 

4,250

 

 

 

1,131

 

 

(15)

HilleVax, Inc.

 

Equity

5/3/2022

Common Stock

 

 

235,295

 

 

 

4,000

 

 

 

4,044

 

 

(4)

Humanigen, Inc.

 

Equity

3/31/2021

Common Stock

 

 

43,243

 

 

 

800

 

 

 

7

 

 

(4)(10)

Kura Oncology, Inc.

 

Equity

6/16/2023

Common Stock

 

 

47,826

 

 

 

550

 

 

 

506

 

 

(4)(10)

NorthSea Therapeutics

 

Equity

12/15/2021

Preferred Series C

 

 

983

 

 

 

2,000

 

 

 

763

 

 

(5)(10)

Paratek Pharmaceuticals, Inc.

 

Equity

2/26/2007

Common Stock

 

 

76,362

 

 

 

2,744

 

 

 

169

 

 

(4)

Phathom Pharmaceuticals, Inc.

 

Equity

6/9/2023

Common Stock

 

 

147,233

 

 

 

1,730

 

 

 

2,108

 

 

(4)(10)(16)

Rocket Pharmaceuticals, Ltd.

 

Equity

8/22/2007

Common Stock

 

 

944

 

 

 

1,500

 

 

 

19

 

 

(4)

Savara, Inc.

 

Equity

8/11/2015

Common Stock

 

 

11,119

 

 

 

202

 

 

 

36

 

 

(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