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Yahoo
10 minutes ago
- Yahoo
Hercules Capital's Wholly-Owned Investment Adviser Launches Fourth Institutional Private Credit Fund
Hercules Adviser completes first close of Hercules Growth Lending Fund IV, a venture and growth stage credit fund, with leading institutional investors Fund IV is the fourth institutional private credit fund launched by Hercules Capital's wholly-owned investment adviser in five years Hercules Adviser now manages four funds with approximately $1.6 billion in committed debt and equity capital SAN MATEO, Calif., July 28, 2025--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) ("Hercules," "Hercules Capital" or the "Company"), the largest and leading specialty finance provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Hercules Adviser LLC ("Hercules Adviser"), its wholly-owned registered investment adviser, completed its first close of a fourth institutional private credit fund, Hercules Growth Lending Fund IV LP (the "Fund" or "Fund IV"). "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, chief executive officer and chief investment officer of Hercules. "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. Fund IV will allow us to further scale the platform and continue to finance some of the leading institutionally-backed growth stage companies in the ecosystem." The Fund will leverage Hercules Capital's scale, deep industry relationships, rigorous underwriting framework to identify and support companies at inflection points in their growth trajectory. Since inception, Hercules Capital, directly and through investment funds managed by Hercules Adviser LLC, as of March 31, 2025, has committed over $22.0 billion to more than 680 portfolio companies, with a focus on first-lien structures and downside protection. Hercules Capital and Hercules Adviser together have over $5.0 billion of assets under management as of March 31, 2025. With the launch of Fund IV, Hercules Adviser now manages four private credit funds with approximately $1.6 billion in committed debt and equity capital. About Hercules Capital, Inc. Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $22 billion to over 680 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@ or call (650) 289-3060. Hercules, through its wholly owned subsidiary business, Hercules Adviser LLC (the "Adviser Subsidiary"), also maintains an asset management business through which it manages investments for external parties ("Adviser Funds"). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940. Hercules' common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol "HTGC." In addition, Hercules has one retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY). Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as "anticipates," "believes," "expects," "intends," "will," "should," "may" and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future. View source version on Contacts Michael HaraInvestor Relations and Corporate CommunicationsHercules Capital, Inc.(650) 433-5578mhara@
Yahoo
10 minutes ago
- Yahoo
Fed expected to keep rates unchanged as it sifts through mixed economic data
By Ann Saphir (Reuters) -The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs. The majority of Fed policymakers, though, remain concerned that Trump's tariffs could undo progress on bringing inflation back to the central bank's 2% goal, outweighing for now worries about the labor market. The trade deal struck between the U.S. and Japan last week, with tariffs set at 15%, and reported progress for a similar rate in talks with the European Union make it more likely that import duties overall will end up well below the punishing levels Trump announced on his April 2 "Liberation Day." Even so, U.S. tariffs are at their highest level in 90 years, and the effects are starting to show up in household purchases. A surge in prices of goods like furnishings and apparel helped drive overall consumer inflation to an annualized 3.5% pace in June. So soon after a bout of 40-year-high inflation, policymakers fear fast-rising prices could "freak out" households, as Chicago Fed President Austan Goolsbee sometimes phrases it, triggering a wider inflationary spiral. While Fed Chair Jerome Powell says that is only one of many possible scenarios, he has argued the central bank can wait to learn more before adjusting rates, especially with a 4.1% unemployment rate near or below estimates of full employment. Other data and the outlook amid Trump's broader economic program, including tax cuts and deregulation, invite differing views on the central bank's policy-setting Federal Open Market Committee. "Considering the clear divergence in the near-term policy outlook between (Fed Governor Christopher) Waller and (Fed Vice Chair of Supervision Michelle) Bowman and the other FOMC participants, we expect both Waller and Bowman to dissent in favor of a 25-bp (basis-point) cut," wrote analysts at Nomura Securities, one of several Wall Street firms predicting the first double dissent from Fed governors since 1993. Both Waller and Bowman were appointed to the Board of Governors by Trump, who has excoriated Powell for resisting the White House's demand for an immediate rate cut and broached the idea of firing the Fed chief before his term expires next May. Last week, during a rare but tense visit to the Fed's headquarters in Washington, Trump once again pressed the case for lower rates, though he also said he didn't think it was necessary to fire Powell. Waller, who has been mentioned as a possible successor to Powell, sees private-sector job growth nearing stall speed and fears companies could turn to layoffs in the absence of easier credit conditions. Private-sector hiring accounted for just half of the gain of 147,000 U.S. jobs in June, and Waller says other data suggests even that reading overestimates the true increase. Bowman has also expressed worries about labor market deterioration and feels a rate cut may be needed to prevent it. Both are skeptical tariffs will lead to persistent inflation. Several others, including Boston Fed President Susan Collins, also see recent muted price increases as suggesting tariffs may not push up inflation as much as earlier thought. RECORD-BREAKING ECONOMY Ahead of the scheduled release on Wednesday of the Fed's policy statement, the Commerce Department is widely expected to report that economic activity reaccelerated in the second quarter, pushing total output above $30 trillion in non-inflation-adjusted terms for the first time. That may shore up Trump's bragging rights to what he says is a U.S. economy that would take off like a rocket if only the Fed cut rates. But central bankers will see it as more ambiguous. The expected increase follows a first-quarter drop in GDP from a historic rush to front-run Trump's tariffs on imports from U.S. trading partners. "While a sharp reversal in imports will mechanically boost Q2 GDP, tariff-induced cost pressures, persistent policy uncertainty, severely curtailed immigration, and elevated interest rates are collectively dampening employment, business investment and household consumption," wrote Gregory Daco, chief economist at EY-Parthenon. "The U.S. economy continues to navigate a complex set of cross-currents, obscuring a clear reading of its underlying momentum." Consumer spending, accounting for two-thirds of economic output, has been reasonably strong, with retail sales rising more than expected last month. Though household bank account balances are lower on a year-over-year basis, data from the JPMorganChase Institute last week suggests overall cash reserves are in better shape. Bank credit extended to consumers and businesses is up from the prior year for the first time in more than two years, Fed data shows. Similarly, loan volume and demand rose beginning in late May after sluggish or no growth since the year began, a Dallas Fed survey shows, and bankers expect increased economic activity and rising credit demand through the end of this year. In another sign the economy isn't rolling over, Fed data shows manufacturing output grew last quarter, albeit by a slower 2.1% annualized pace than the first quarter's 3.7% pace. A measure of how fully firms are using their resources edged up to 77.6% in June from 77.5% in May. Still, business investment may be faltering. Data on Friday showed non-defense capital goods orders excluding aircraft unexpectedly dropped 0.7% in June as firms grew more cautious about spending. Other data points to a weakening economy, bolstering the minority argument for rate cuts soon. Employment growth has slowed and hiring breadth is narrowing, led by just a few service-providing sectors. Finding a job after losing one is getting harder. Half of those collecting unemployment benefits remain on the jobless rolls for at least two-and-a-half months. And the housing and construction sectors are clearly on the back foot, feeling the drag of 30-year fixed-rate mortgages hovering near 7%. Overall construction spending has fallen for nine straight months - a streak unseen since the 2007-2009 financial crisis - and new single-family home starts were the lowest in nearly a year in June. Sales of new and existing homes remain anemic. "Weak housing demand is convincing evidence that rates are still restrictive, with factors like a softening labor market and high uncertainty possibly also weighing on demand," Citi economists wrote. Sign in to access your portfolio
Yahoo
10 minutes ago
- Yahoo
Mosaic Insurance unveils new coverage for digital asset sector
Mosaic Insurance has introduced a new product suite targeting the digital asset market, combining cyber and financial institutions (FI) crime coverage to address the needs of this industry. The offering provides tailored protection for businesses navigating complex risks in a sector that has often faced limited insurance options, said Mosaic. Mosaic has partnered with Native, a specialist broker in digital assets, to support the launch. Through the Native Risk Collective, businesses that adopt approved vendors and services to enhance their risk profile can access improved coverage terms and more competitive premiums. The modular suite delivers stand-alone or integrated coverage for cyber, technology errors and omissions (E&O), and crime risks. It offers up to £/$/€10m in capacity for cyber and tech exposures and up to £/$/€5m for crime exposures, the insurer said. Mosaic cyber global head Brian Bonkoski said: 'Mosaic is bringing the first comprehensive Lloyd's A+-rated cyber, tech E&O and crime capacity to the digital asset space – it is a true differentiator, delivering a level of trust and financial strength that has been lacking in this space. 'With global regulatory licences and underwriting hubs in London, the US, Bermuda, Canada, Europe, Dubai, and Singapore, we offer seamless coverage to clients, regardless of domicile or the jurisdictions they serve.' Underwritten through Mosaic's global agency network on behalf of its Lloyd's Syndicate 1609, the product is said to be supported by its A+-rated global carrier partners. Designed to serve a wide range of digital asset businesses, the solution caters to entities such as blockchain analytics companies, custodians, exchanges, exchange-traded funds structures, miners, real-world asset platforms, trading platforms and wallet providers. These companies have historically encountered challenges in securing comprehensive coverage due to perceived market volatility or regulatory uncertainties, stated Mosaic. The product mirrors the line sizes and policy structures available to Mosaic's non-digital asset clients, providing seamless cyber, tech and crime coverage through a single underwriting platform to eliminate common coverage gaps. Mosaic cyber underwriter vice-president Kieran Quigley said: 'Digital asset clients have long needed insurance that understands their risks, offers meaningful capacity and brings a long-term view. 'We have listened to clients and brokers and built solutions that reflect the ambition and growing sophistication of this space. We are proud to support innovators driving the next wave of global economic change.' Cyber and financial institutions liability represent two of Mosaic's seven specialty business lines, alongside environmental liability, transactional liability, political risk, political violence and professional liability. "Mosaic Insurance unveils new coverage for digital asset sector" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
