Hercules Adviser, the wholly-owned registered investment adviser of Hercules Capital, has surpassed $2.3 billion in investable capital. The milestone follows the closing of equity commitments across its newest institutional private credit vehicles Hercules Evergreen Fund (a perpetual, open-end fund) and Hercules Growth Lending IV (a closed end limited partnership), and a rated securitization. Investors in the vehicles include a wide range of sophisticated global institutional investors, including insurance companies, pensions, asset managers, foundations and endowments, and family offices.
With this milestone, Hercules broadens the suite of vehicles through which investors can access its differentiated investment platform, including its publicly traded, internally managed business development company, a newly launched perpetual, open-end vehicle, a rated note investment vehicle, and a series of closed-end private credit vehicles. The newest vehicles reflect Hercules’ ongoing commitment to working with its investors to deliver flexible, scalable capital solutions that meet the evolving needs of institutional allocators while continuing to support the innovation economy.
“The strong level of investor interest across our newest vehicles reflects the depth of our investors’ confidence in Hercules’ industry-leading approach to growth-stage credit,” Scott Bluestein, chief investment officer and CEO of Hercules, said. “Our new perpetual, open-end vehicle offers allocators a permanent capital avenue to invest alongside HTGC and our closed-end vehicles in financing the most innovative growth-stage technology and life sciences companies in the world. We look forward to continuing to scale the platform in service of our investors, borrowers, sponsors and the innovation ecosystem, and we are deeply grateful for their continued trust and partnership.”
Both vehicles will leverage Hercules Capital’s scale, industry relationships and underwriting framework to identify and support disruptive companies across technology and life sciences with non-dilutive capital solutions that enable them to further accelerate their growth trajectory.
Since inception, Hercules Capital, directly and through investment funds managed by Hercules Adviser, has committed over $28 billion to more than 700 portfolio companies, as of June 30, 2026, with a focus on first-lien structures and downside protection.
