Meld Valuation / Venture NAV Tracker
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Venture NAV Tracker / Fund

Hercules Capital (HTGC)

A business development company providing growth-capital loans to venture-backed companies.

Fund website ↗
Structureventure debt BDC
ExchangeNYSE
NAV / share$11.85Mar 31, 2026 · source ↗
Market price$19.80Jul 10, 2026 · source ↗
Premium / discount+67.1%Derived from latest NAV and price
Net assets$2.2BMar 31, 2026 · source ↗

Latest observation

NAV vs. market price

Reported dates shown below.

NAV / share$11.85Mar 31, 2026 · source ↗
Market price$19.80Jul 10, 2026 · source ↗

Fund facts

Manager
Hercules Capital, Inc.
NAV frequency
quarterly
Primary filing
10-Q
Expense ratio
+10.4%

Schedule of investments

Debt investments

Mar 31, 2026 reporting period

CompanySecurity typePrincipalCostFair valueFV / principalRateMaturityNon-accrual
DatabricksEnterprise softwaresenior secured loan$12.5MMar 31, 2026 · source ↗$12.4MMar 31, 2026 · source ↗$12.3MMar 31, 2026 · source ↗98.0%Mar 31, 2026 · source ↗SOFR + 6.75%, 12.10% floorMar 31, 2026 · source ↗Apr 1, 2028Mar 31, 2026 · source ↗NoMar 31, 2026 · source ↗
ZiplineLogistics technologysenior secured loan$10MMar 31, 2026 · source ↗$9.4MMar 31, 2026 · source ↗$7.6MMar 31, 2026 · source ↗75.5%Mar 31, 2026 · source ↗SOFR + 7.25%, 11.50% floorMar 31, 2026 · source ↗Nov 15, 2027Mar 31, 2026 · source ↗Non-accrualMar 31, 2026 · source ↗
Scale AIArtificial intelligencesecond lien$6MMar 31, 2026 · source ↗$5.9MMar 31, 2026 · source ↗$6.1MMar 31, 2026 · source ↗101.7%Mar 31, 2026 · source ↗SOFR + 8.00%, 12.00% floorMar 31, 2026 · source ↗Jan 31, 2029Mar 31, 2026 · source ↗NoMar 31, 2026 · source ↗

Schedule of investments

Warrant & equity positions

Mar 31, 2026 reporting period

CompanyFair value% of NAVSecurityImplied price / shareMethodology / source

Position history

Reported fair-value marks

Each bar is a disclosed position-quarter.

$12.3MDatabricksMar 31, 2026 · source ↗$1.1MDatabricksMar 31, 2026 · source ↗$7.6MZiplineMar 31, 2026 · source ↗$6.1MScale AIMar 31, 2026 · source ↗
Figures are compiled from public filings.Read methodologyMELD Valuation