Hercules Capital, Inc., a leading specialty finance provider, announced the first close of Hercules Growth Lending Fund IV, the latest institutional private credit vehicle managed by its wholly owned registered investment advisor, Hercules Adviser LLC. 

The launch of Fund IV marks a significant milestone in Hercules’ continued expansion in the venture and growth-stage lending space. With the new fund, Hercules Adviser now oversees four private credit funds totaling approximately $1.6 billion in committed debt and equity capital. 

“This first close reflects the strength of our differentiated investment platform and the confidence our partners have in our disciplined approach to venture and growth stage lending,” said Scott Bluestein, CEO and CIO of Hercules Capital. “We see enormous opportunity to continue to back venture and growth stage technology and life sciences companies and are grateful for the long-term support of our investors across the Hercules platform.” 

As of March 31, 2025, Hercules Capital—directly and through its managed investment funds—has committed more than $22 billion across over 680 portfolio companies, with a strategy centered on first-lien lending structures and robust downside protection. 

Together, Hercules Capital and Hercules Adviser manage more than $5 billion in assets, positioning the firm as one of the most active and established lenders to late-stage private companies in the innovation economy.