The team at Hercules has been much more than a venture debt provider, they've been integral partners. They get what it takes for venture-backed tech companies to grow and have provided vehicles for us to maximize that growth over multiple stages of the company. Their investments have provided flexibility during and in-between financing rounds and they take a personal interest in the milestones achieved after the deal is closed.
"Partnership" is the best word I can describe the relationship I have had with Hercules and its account team over the past three years. When our lease commitment capped out with another firm, Hercules was there to provide additional financing to meet our growth needs. When we needed to restructure our loan payments to be mapped better with our cash flow, Hercules was there to modify our payment schedule. I always felt they were they were there to help our business!
HTGC has been a strong, consistent and value add business partner to Neothetics both when things have gone well and more importantly, when times have been challenging. They are much more than a venture debt lender and their team and deal structures reflect this. They are a stand out among the firms in this space.
Hercules has been a great partner for Tapjoy, made possible by their deep understanding of the needs of companies at our stage of development. I felt very comfortable working with Hercules because of the deep working relationship that we developed with their team. I would highly recommend them.
Hercules Capital is a strong long-term partner for TransMedics. The Hercules team took the time to work with the management team to understand the business opportunity and challenges that we faced. They have used that knowledge to strategically support the company throughout its key stages of development. They are more than a venture debt lender, they are a business partner that focuses on helping their portfolio companies succeed and grow. TransMedics and I are fortunate to be working with the Hercules team.
Venture debt is a not a commodity, particularly when a company's business doesn't develop according to plan, which is the rule rather than the exception for emerging companies. At such moments, when the promise is still there but the immediate path is less certain, the terms of the debt matter far less than the approach and experience of the lender.
Over the past six years, as a lead venture investor in a Hercules-sponsored company, TransMedics Inc., that is changing the standard of care in organ transplantation, I've worked closely with the Hercules team through a rather incredible set of gyrations in corporate prospects. Without Hercules' strong belief and active support, TransMedics, which should ultimately become a multi-billion dollar enterprise, would not only not be on the path it is today, but would not have survived. They have been a highly valued and invaluable partner.
Hercules Technology Growth Capital is a firm you want backing you in "the best and worst of times." The HTGC team funded our Company enabling management to raise substantial Series B capital; collaborated with management and the board "paving the way" to implement a challenging and complex restructuring; and partnered with executive leadership to complete a rigorous, multi-faceted and successful strategic exit. In today's competitive, fast paced and changing business ecosystem this is a team and partner you want "in the foxhole" with you.
I have worked with the Hercules team in a variety of different situations and across a few different companies over the last several years. I have found the Hercules team to be collaborative and supportive in addressing a number of complex situations. They were focused on developing solutions that worked for everyone around the table.
Hercules has been a venture debt provider to Revance Therapeutics since 2011 and remains so today. During this period, in my capacity as a Board member, I have had the chance to work with and see the Hercules team in action in a variety of different situations. Hercules has been professional, accommodating and a great partner to Revance. They understand the ebbs and flows of our business, they appreciate the cycles that emerging companies go through and our decision to tap them as the venture debt provider to Revance has proven to be the right one.
Over the last several years, I have had the opportunity to work with the Hercules team on a number of different occasions. Venture-stage companies exist in a state of constant change. Hercules has been a responsive and flexible partner, who has worked with our companies to adapt to changing circumstances. I value the relationship with them and look forward to continuing to work with them on a go forward basis.