HedgeCo.Net — Hercules Capital said on September 9 that Hercules Adviser LLC, its wholly owned registered investment adviser, has surpassed $2.3 billion in investable capital after closing equity commitments to Hercules Evergreen Fund, a new perpetual open-end vehicle, and Hercules Growth Lending IV, a closed-end limited partnership, alongside a rated securitization. Alternative Credit Investor independently printed the same $2.3 billion investable-capital milestone and the Evergreen plus Growth Lending IV plus rated note structure.
Together with the publicly traded BDC (NYSE: HTGC), Hercules said the firm manages about $6.1 billion of assets. Evergreen is described as the Adviser’s inaugural perpetual open-end fund and its fifth institutional private credit vehicle since the platform’s 2021 creation. Both newest vehicles will lend to growth-stage technology and life sciences borrowers with a first-lien emphasis; Hercules said it has committed more than $28 billion to over 700 portfolio companies since inception, as of June 30, 2026. Investor types named include insurers, pensions, asset managers, foundations, endowments, and family offices.
This is an adviser-platform capital raise across vehicles, not a single flagship hard-cap close with a disclosed LP roster. Mark the $2.3 billion investable-capital figure, the Evergreen / Growth Lending IV / rated securitization trio, and ~$6.1 billion combined AUM as company-stated and dual-sourced. Do not invent fund-level commitments inside the $2.3 billion or a target yield. The allocator object is venture growth lending / private credit with an evergreen sleeve beside closed-end funds and HTGC.