PALO ALTO, Calif.--(BUSINESS WIRE)--Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the largest specialty finance company addressing the capital needs of technology-related venture capital and private equity-backed companies today announced the appointment of industry veteran April Young as Managing Director and the opening of its new offices in McLean, Virginia.
The expansion is part of Hercules’ planned growth strategy and provides geographic support to the Mid-Atlantic and South-Atlantic regions where the Company is currently under represented. The Mid-Atlantic region is represented by New York, New Jersey, and Pennsylvania. The South-Atlantic is represented by Delaware, Washington D.C., Maryland, Virginia, West Virginia, North Carolina, South Carolina, Georgia and Florida. The new Virginia office complements Hercules’ long standing position in venture capital strongholds, Silicon Valley and New England, and extends the Company’s presence in the three largest markets for venture capital investment according the PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report.
Ms. Young will lead the Virginia office as part of Hercules’ Technology Group investment team. She is a seasoned executive with more than 16 years of experience in sourcing and providing growth capital loans to venture-backed technology and life science companies. Most recently, Ms. Young served as a Senior Vice President and Managing Director at MMV Financial, Inc., a specialty finance firm where she managed the U.S. expansion of MMV’s venture debt practice.
Previously, Ms. Young was with Comerica Bank for 10 years as Senior Vice President and Managing Director of the Mid-Atlantic Technology and Life Sciences Division. Earlier in her career, Ms. Young was Executive Director at the Potomac KnowledgeWay, a not-for-profit leadership organization. Prior to that, she was a Senior Fellow for Regional Economic Development at George Mason University's Institute for Public Policy, and the Director of the Virginia Department of Economic Development. Ms. Young received a Ph.D. in Public Policy and Administration from Saint Louis University and an M.S. and B.A. in Urban and Regional Planning from George Washington University.
“Growth continues to be our mantra. The addition of Ms. Young and the opening of our new office enhance the Company’s focus on the Mid-Atlantic region, particularly in the areas of software, biotech and information services where we can leverage existing domain expertise as we continue to build the portfolio,” said Manuel A. Henriquez, co-founder, chairman and chief executive officer of Hercules. “Ms. Young’s leadership in the Mid-Atlantic technology community and her many years of venture debt experience will be an important growth asset for Hercules. I am looking forward to working with her as we pursue new opportunities.”
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance firm providing customized loans to public and private technology-related companies, including clean technology, life science and select lower middle market technology companies at all stages of development. Since its founding in 2003, Hercules has committed over $2.4 billion in flexible financing solutions to over 170 companies, enabling these companies to maximize their equity by leveraging these assets. Hercules’ strength comes from its deep understanding of credit and the industries it serves, allowing it to partner with venture capital and private equity companies for a less dilutive source of growth capital helping companies to bridge through their critical stages of growth. Hercules offers a full suite of growth capital products at all levels of the capital structure, up to $40 million, lines of credit to term loans. The company is headquartered in Palo Alto, California and has additional offices in Massachusetts, Colorado and Virginia. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.htgc.com.
Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
Forward-Looking Statements:
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market turbulence, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
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