Hercules Capital Inc (NYSE: HTGC) is a business development company (BDC) that provides debt and equity financing to venture capital-backed and private equity-backed companies, primarily in technology, life sciences, and related sectors. It earns income through interest, fees, and dividends on loans and equity investments made to portfolio companies. Hercules is listed on the New York Stock Exchange and operates as a regulated investment company under the Investment Company Act of 1940. The 10-K filed February 12, 2026 identifies HTGC as a well-known seasoned issuer with common stock trading on the NYSE, with aggregate market value of non-affiliate shares calculated using a closing price of $18.28 as of the last business day of the most recently completed second fiscal quarter.

Revenue model

Interest income on loans to portfolio companies, supplemented by origination fees, prepayment fees, and equity-related income from warrants or equity co-investments in venture and private equity-backed companies.

Products and services

Venture loans, secured debt facilities, equity co-investments, and warrant positions to venture capital-backed and private equity-backed companies.

Customers and end markets

Venture capital-backed and private equity-backed portfolio companies, primarily in technology, life sciences, and related growth-stage sectors, based on the BDC's stated investment focus as described in the 10-K filed February 12, 2026.

Value-chain role

Direct lender and equity co-investor providing growth capital to private companies that may not have access to traditional bank financing.

Source: SEC 10-K, filed 2026-02-12

Industry: UNKNOWN Peers: AssetMark Financial Holdings, Inc. Blackstone Inc Bridge Investment Group Holdings Inc. GCM Grosvenor Inc Goldman Sachs BDC Inc Golub Capital BDC Inc New Mountain Finance Corp Sixth Street Specialty Lending Inc Victory Capital Holdings Inc