Hercules Capital specializes in venture debt, including debt, senior secured loans, and growth capital. They primarily invest in structured debt with warrants and, to a lesser extent, senior debt and equity investments, focusing on technology, energy technology, sustainable and renewable technology, life sciences, and educational services. The firm prefers to invest in companies that have been operating for at least six to 12 months and targets the West Coast, Mid-Atlantic regions, Southeast, and Midwest, primarily investing in the United States.