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Private Debt/Credit

Hercules Capital INC

Hercules Capital INC lends to companies rather than buying equity, from San Mateo, California, USA. It states a focus on software & internet, healthcare & life sciences and financial services.

Disclosed holdings
Earliest stated investment
HeadquartersSan Mateo, California, USA
Largest single fundNot stated

Stated investment criteria

What Hercules Capital INC says it buys

Read from Hercules Capital INC’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

Transaction typesGrowth, Recapitalisation1
Founded20031
People listed on its team page412

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Hercules Capital INC to consider any particular business, and nothing on this page is represented as being for sale.

Regulatory record

How Hercules Capital INC is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusSEC registered
Regulatory assets under management$1.6bn
Employees3
Private funds advised5 · $1.6bn gross
SEC adviser numberCRD 310662

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other private debt/credit investors active in software & internet.