Hercules’ Portfolio Update for Q3 2016 Highlights Continued Execution of Its Portfolio and Earnings Growth Strategy
Summary
Hercules Capital reports a strong third quarter in 2016 with $178.0 million in new debt and equity commitments and $84.2 million in early repayments. The company added five new portfolio companies, including two technology businesses: an enterprise analytics developer and a software company focused on note taking, organizing, and archiving. The update also highlights IPO and M&A activity across its portfolio, including the IPO of TPI Composites and acquisitions involving Celator Pharmaceuticals, ReachLocal, TouchCommerce, and IronPlanet. Hercules says it is building liquidity and converting that into new interest-earning investments across technology and life sciences markets. The release mainly serves as an investor update on financing activity rather than a direct software-company announcement.