Hercules Capital (NYSE: HCXY) elevates Meyer to President, hires Olson as CFO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Hercules Capital, Inc. is reshaping its executive team to support its next phase of growth. Effective May 18, 2026, longtime Chief Financial Officer Seth Meyer will become President, focusing on scaling, diversification and expansion of the Hercules lending and asset-management platform.
Andrew Olson, a veteran finance executive with prior experience at Hercules and several alternative asset managers, will become Chief Financial Officer and Head of Corporate Development, serving as principal financial and accounting officer. The company highlights Olson’s background in private credit, venture markets and fund management as support for its growth strategy.
Positive
- None.
Negative
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Effective date of leadership changes: May 18, 2026
Retail notes coupon: 6.25% Notes due 2033
Capital committed since inception: More than $27 billion
+2 more
5 metrics
Effective date of leadership changes
May 18, 2026
Date when Meyer becomes President and Olson becomes CFO
Retail notes coupon
6.25% Notes due 2033
Publicly traded notes listed as HCXY on NYSE
Capital committed since inception
More than $27 billion
Total commitments to over 700 companies since December 2003
Companies financed
Over 700 companies
Borrowers across technology and life sciences industries
Company inception reference date
December 2003
Start of Hercules Capital’s lending track record
Key Terms
specialty finance company, senior secured venture growth loans, forward-looking statements, Private Securities Litigation Reform Act of 1995, +1 more
5 terms
specialty finance company financial
"Hercules Capital, Inc. ... is the leading and largest specialty finance company focused on providing senior secured venture growth loans"
senior secured venture growth loans financial
"focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies"
forward-looking statements regulatory
"This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995."
investment adviser financial
"The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940."
An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (650 ) 289-3060
Not Applicable
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On April 29, 2026, the Board of Directors (the "Board") of Hercules Capital, Inc. (the "Company") approved the following changes to the Company's executive leadership team, each effective May 18, 2026:
Seth H. Meyer, age 57, the Company's Chief Financial Officer since March 2019, will transition from his role as Chief Financial Officer and was appointed President of the Company. Mr. Meyer will continue to report to Scott Bluestein, the Company's Chief Executive Officer and Chief Investment Officer. Biographical information for Mr. Meyer is set forth in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (the "SEC") on April 23, 2026, and is incorporated herein by reference.
Andrew Olson, age 43, was appointed Chief Financial Officer and Head of Corporate Development, succeeding Mr. Meyer in the role of Chief Financial Officer. Mr. Olson will serve as the Company's principal financial officer and principal accounting officer. Mr. Olson most recently served as Partner, Chief Financial Officer, and Chief Operating Officer of Revelation Partners, a healthcare-focused secondary investment firm. Prior to Revelation Partners, Mr. Olson served as Chief Financial Officer of SVB Capital, and previously served as Chief Financial Officer of TriplePoint Capital and TriplePoint Venture Growth BDC Corp. (NYSE: TPVG). From 2014 to 2017, Mr. Olson served as Vice President of Finance and Senior Controller, and as Interim Chief Financial Officer, of the Company. Mr. Olson received a Bachelor of Arts in Business Economics from the University of California, Santa Barbara, and is a Certified Public Accountant in the State of California.
There are no arrangements or understandings between Mr. Olson and any other persons pursuant to which Mr. Olson was selected as an officer of the Company. There are no family relationships between Mr. Olson and any director or executive officer of the Company. Mr. Olson does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The Company also issued a press release announcing the leadership changes described above. The text of the press release is included as Exhibit 99.1 to this Form 8-K.
| Item 9.01. | Financial Statements and Exhibits | ||||
(d) Exhibits.
| Number | Exhibit | |||||||
| 99.1 | Press Release dated May 4, 2026 | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HERCULES CAPITAL, INC. | ||||||||||||||||||||
| May 4, 2026 | ||||||||||||||||||||
| By: | /s/ Kiersten Zaza Botelho | |||||||||||||||||||
| Kiersten Zaza Botelho | ||||||||||||||||||||
| Secretary | ||||||||||||||||||||
Exhibit 99.1
Hercules Capital Enters Next Phase of Growth with Expanded Leadership Team
Seth Meyer Elevated to President
Andrew Olson Appointed Chief Financial Officer and Head of Corporate Development
SAN MATEO, Calif., May 4, 2026 – Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced a strategic evolution of its executive leadership team to accelerate its next phase of growth and operational scaling. Effective May 18, 2026, Seth Meyer, who has served as Chief Financial Officer since 2019, will be promoted to President. Succeeding him as Chief Financial Officer effective May 18, 2026, is Andrew Olson, a seasoned finance executive returning to Hercules with extensive experience across alternative asset management, banking, private credit and private equity markets.
As President, Mr. Meyer will continue to report to the Company’s Chief Executive Officer and will help oversee the scaling, growth, diversification and further expansion of the Hercules platform. This transition allows Hercules to leverage Mr. Meyer’s deep institutional knowledge and proven financial stewardship to drive broader platform growth and organizational efficiency.
“Over the past seven years, Seth has been instrumental in helping to build upon our financial strength,” said Scott Bluestein, CEO and Chief Investment Officer of Hercules Capital. “Elevating Seth to President is a natural step as we sharpen our focus on growing and expanding our industry-leading platform. Simultaneously, I am thrilled to welcome back Andrew Olson, whose track record in alternative assets and private credit is world-class and ensures that we continue to have the specialized financial leadership required to navigate the complexities of our future growth. Andrew will be a key member of our executive leadership team, and I look forward to working with him once again as we continue to build on our success and take Hercules to the next level.”
"I am grateful to the Board and Scott for their continued confidence as I step into the role of President”, said Seth Meyer. “I look forward to working closely with Scott, Andrew, and our talented team to build on our position as the leading specialty financing partner to the innovation economy. As we enter this next phase of growth, my focus will be on scaling our platform and enhancing our operational capabilities to ensure we continue to deliver long-term value for our stockholders and partners alike.”
Mr. Olson brings over 19 years of experience in leadership roles within both private and public investment companies and has a deep background in venture capital and fund management. Most recently, Mr. Olson served as Partner, Chief Financial Officer, and Chief Operating Officer at
1
Exhibit 99.1
Revelation Partners, a healthcare-focused secondary investment firm where he oversaw financial operations and business leadership. Prior to Revelation Partners, Mr. Olson served as CFO at SVB Capital, where he managed finance and operations for the firm’s direct investment, private credit, and fund of funds strategies. Mr. Olson has also held roles as CFO at TriplePoint Capital and TriplePoint Venture Growth, a NYSE-listed company, and served as Vice President of Finance and Senior Controller, as well as Interim Chief Financial Officer, at Hercules Capital from 2014 to 2017. Mr. Olson began his career at PricewaterhouseCoopers (PWC) working as a Senior Manager in both San Francisco and Hong Kong. Mr. Olson earned a Bachelor of Arts degree in Business Economics from the University of California, Santa Barbara. He is also a Certified Public Accountant in the state of California.
"I am thrilled to rejoin Hercules Capital at such a pivotal moment in its trajectory,” stated Andrew Olson. “Having seen the Company's early foundations firsthand, I am incredibly impressed by how the platform has scaled and strengthened its market-leading position during my time away. I look forward to partnering with Scott, Seth and the rest of the executive leadership team to leverage my experience in private credit and venture markets to further enhance our financial and operational excellence and support the Company’s next chapter of disciplined growth."
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $27 billion to over 700 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.
Hercules, through its wholly owned subsidiary business, Adviser Subsidiary, also maintains an asset management business through which it manages investments for external parties (“Adviser Funds”). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940.
Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.” In addition, Hercules has one retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY).
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements
2
Exhibit 99.1
made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future.
Contact:
Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
650-433-5578
mhara@htgc.com
3
FAQ
What executive leadership changes did Hercules Capital (HCXY) announce in this 8-K?
Hercules Capital announced a strategic refresh of its leadership. Seth Meyer moves from Chief Financial Officer to President, while Andrew Olson becomes Chief Financial Officer and Head of Corporate Development, assuming principal financial and accounting officer responsibilities and supporting the company’s next phase of growth.
When do the new leadership roles at Hercules Capital (HCXY) become effective?
The leadership changes at Hercules Capital become effective May 18, 2026. On that date, Seth Meyer formally assumes the role of President and Andrew Olson becomes Chief Financial Officer and Head of Corporate Development, taking over as the company’s principal financial and accounting officer.
Who is Andrew Olson, the new CFO of Hercules Capital (HCXY)?
Andrew Olson is a seasoned finance executive with over 19 years of leadership experience. He previously held senior roles at Revelation Partners, SVB Capital, TriplePoint Capital, TriplePoint Venture Growth and earlier served in finance and interim CFO roles at Hercules Capital, bringing deep private credit and venture expertise.
What responsibilities will Seth Meyer have as President of Hercules Capital (HCXY)?
As President, Seth Meyer will report to the Chief Executive Officer and help oversee scaling, growth, diversification and further expansion of the Hercules platform. The company emphasizes his institutional knowledge and financial stewardship as key assets for driving broader platform growth and operational efficiency.
What business does Hercules Capital (HCXY) focus on according to this filing?
Hercules Capital is described as the leading and largest specialty finance company focused on providing senior secured venture growth loans. It lends to high-growth, innovative, venture capital-backed companies across technology and life sciences sectors and also manages external capital through an asset management subsidiary.
How much capital has Hercules Capital (HCXY) committed since inception?
Since its inception in December 2003, Hercules Capital has committed more than $27 billion to over 700 companies. This underscores the scale of its senior secured venture growth lending activities to innovative, high-growth businesses backed by venture capital and select private equity firms.