Hercules Capital Acquires Venture Lending Portfolio Assets for ~$125.0 Million

PALO ALTO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the leading specialty finance company to innovative, venture growth, pre-IPO and M&A stage companies backed by leading venture capital firms, today announced that it has entered into a definitive asset purchase agreement with Ares Capital Corporation (NASDAQ:ARCC) to acquire select venture loan assets for approximately $125.0 million. The all-cash transaction is expected to reinforce Hercules Capital’s position as the largest venture lending business development company in the United States, with total assets in excess of $1.5 billion.