Investment Advisor of Hercules Capital Announces Successful Closure of Fourth Private Fund, Valued at $1.6 Billion
Hercules Growth Lending Fund IV LP Reaches First Close, Raising $1.6 Billion
Hercules Growth Lending Fund IV LP, the fourth institutional private credit fund launched by Hercules Adviser, has completed its first close, raising approximately $1.6 billion in committed debt and equity capital as of July 2025. This fund is a significant addition to Hercules Capital's growing portfolio, pushing the total assets under management to over $5 billion as of March 31, 2025.
The key focus of Hercules Growth Lending Fund IV LP is to provide venture and growth-stage credit financing primarily to innovative companies in the technology and life sciences sectors. The fund aims to leverage Hercules Capital's extensive industry relationships, rigorous underwriting, and scale to support companies at critical points or inflection stages in their growth trajectories.
Scott Bluestein, CEO and CIO of Hercules, attributes the first close of Fund IV to the strength of their differentiated investment platform and the confidence of partners in their disciplined approach to venture and growth stage lending. He expressed his gratitude for the long-term support of investors across the Hercules platform.
The fund targets institutionally-backed growth-stage companies, especially those demonstrating strong potential in venture and growth lending. With a portfolio approach emphasizing downside protection through mainly first-lien structures, the fund is designed to support companies at critical stages of growth.
Hercules Capital has committed over $22 billion to more than 680 portfolio companies as of March 31, 2025. This new fund will allow Hercules to further scale its platform and continue financing leading institutionally-backed growth stage companies in the technology and life sciences ecosystem.
Fund IV is a part of a series of funds managed by Hercules Adviser, which is a wholly-owned investment adviser of Hercules Capital. The launch of Fund IV is in line with Hercules Capital's ongoing strategy, bringing its total managed capital to approximately $1.6 billion across all four funds.
In summary, Hercules Growth Lending Fund IV LP is an active fund with a first close completed and $1.6 billion in committed capital. It focuses on the technology and life sciences sectors, investing in venture and growth stage companies at inflection points. The strategy involves private credit with rigorous underwriting focused on downside protection, leveraging Hercules Capital’s existing platform and industry relationships.
This successful first close of Hercules Growth Lending Fund IV LP has brought in approximately $1.6 billion, marking a significant investment in the business sector. With this fund, Hercules Capital aims to provide financing to innovative companies in the technology and life sciences industries, particularly focusing on venture and growth-stage credit financing.
