Hercules Capital, Inc. (NYSE: HTGC) announced its financial results for the first quarter ended March 31, 2025, on May 1, 2025. The company reported total investment income of $119.5 million for the quarter, demonstrating continued revenue generation.
The company achieved robust net debt portfolio growth of nearly $270 million during the quarter, driven by over $1 billion in new commitments originated and gross fundings exceeding $539 million. The weighted average effective yield on debt investments stood at 13.0%, a decrease from 14.9% in Q1 2024.
Hercules Capital's RIA business contributed $5.2 million in cash to the BDC, marking a 15.6% increase year-over-year. Non-accrual investments remained low at 0.5% of the total investment portfolio at fair value, and GAAP leverage was 99.9%, indicating conservative balance sheet management.
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