Hercules Expands its Energy & Renewable Technology (CleanTech) Team & Capabilities with Addition of Three Seasoned Investment...
06 August 2014 - 10:00PM
Business Wire
- New Professionals Strengthen
Hercules’ Position in Energy Technology Sector
- Brian Sapp Joins as Managing
Director, Bringing More Than 16 Years of Finance Experience Working
with Venture-Backed Companies
- Micah Merrick and Catherine Jhung
Join as Principals from Industry
Hercules Technology Growth Capital, Inc. (NYSE:HTGC) (“Hercules”
or the “Company”), the leading specialty finance company focused on
providing senior secured loans to venture capital-backed companies
in technology-related markets, including technology, biotechnology,
life science, and energy & renewable technology industries,
announced today the addition of three experienced investment
professionals to its team focused on the energy & renewable
technology sector.
The new additions are:
- Brian Sapp, who recently joined as a
managing director and will be responsible for the origination and
execution of loans to venture capital-backed companies in the
growing energy technology sector across all stages of growth;
- Micah Merrick, as a principal, who
spent the last ten years identifying and establishing long-term
development partnerships with entrepreneurial companies focused on
sustainable development, energy efficiency and renewable
technologies; and,
- Catherine Jhung, as a principal, who
previously was vice president of business development with the
CleanTech Group.
These new investment professionals will further augment the
current energy & renewable technology team, which includes:
Manuel A. Henriquez, co-founder, chairman, and chief executive
officer of Hercules Technology Growth Capital; Tony Pandjiris,
managing director; Sebastian Dominguez, associate; and, Lisa
Wehmeier, associate. The Hercules energy & renewable technology
team has been investing in this sector since the Company’s
inception in 2003.
“Energy and renewable technology continues to be an important
focus for Hercules,” Henriquez said. “We have many years of
experience working with energy technology companies and I am
delighted to welcome our three newest investment professionals of
Brian’s, Micah’s and Catherine’s caliber to the Hercules team. They
will serve to bolster our position in the energy sector and expand
our market reach and knowledge further into this important and
growing sector. We look forward to providing growth capital to many
of these innovative and disruptive energy technology companies by
offering highly customized financing solutions to meet their
growing needs.”
Henriquez continued, “We view this sector as so much broader
than simply solar and wind power, and see it encompassing a wide
number of technologies that impact our daily lives. These
technologies include energy efficiency, water reclamation in
industrial process, different ways to approach agriculture and even
rethinking the way we commute. We believe Brian and his team will
over the next few quarters contribute to Hercules growth through
their sophisticated and systematic approach to this market and to
the companies which they work with.”
Sapp has more than 16 years of experience in finance working
with venture capital, start-ups and public companies as an
investment banker, and has been focused on the energy technology
space since 2004. Prior to joining Hercules, Sapp was a director in
Robert W. Baird & Co.’s investment banking group where he
originated and executed private and public equity and debt capital
raises and advised on M&A transactions in the energy technology
space. Before that, Sapp held senior banking positions at Wedbush
Securities, Thomas Weisel Partners and SVB Alliant in their energy
technology and technology groups. Sapp began his career as an
environmental process engineer with TE Connectivity. Sapp holds an
MBA from Cornell University Graduate School of Management and a
bachelor’s degree in chemical engineering from Pennsylvania State
University.
“I am thrilled to be joining Hercules and being able to have
access to one of the largest pools of capital dedicated to
financing venture-backed energy technology and renewables
companies,” said Sapp. “The opportunity to work for a firm with
this deep an understanding of an industry I have been passionate
about my entire career was extremely compelling. Micah, Catherine
and I are eager to support promising companies that will benefit
from the addition of venture debt to their financing mix.”
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. (NYSE:HTGC)
(“Hercules”) is the leading specialty finance company focused on
providing senior secured loans to venture capital-backed companies
in technology-related markets, including technology, biotechnology,
life science, and energy & renewable technology industries, at
all stages of development. Since inception (December 2003),
Hercules has committed more than $4.2 billion to over 270 companies
and is the lender of choice for entrepreneurs and venture capital
firms seeking growth capital financing.
Hercules’ common stock trades on the New York Stock Exchange
(NYSE) under the ticker symbol “HTGC.”
In addition, Hercules has three outstanding bond issuances of
7.00% Senior Notes due April 2019, 7.00% Senior Notes due September
2019, and 6.25% Senior Notes due July 2024, which trade on the NYSE
under the symbols “HTGZ”, “HTGY,” and “HTGX,” respectively.
Companies interested in learning more about financing
opportunities should contact info@htgc.com, or call
650.289.3060.
Forward-Looking Statements:
The information disclosed in this release is made as of the date
hereof and reflects Hercules’ most current assessment of its
historical financial performance. Actual financial results filed
with the Securities and Exchange Commission may differ from those
contained herein due to timing delays between the date of this
release and confirmation of final audit results. 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 volatility, 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 based 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.
Muirfield PartnersMickey Mandelbaum or Maya Pogoda,
310-785-0810mickey@muirfieldpartners.commaya@muirfieldpartners.comorMarket
Street PartnersEd Keaney,
415-445-3238ekeaney@marketstreetpartners.com
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