Source: Hercules Technology
Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), a leading specialty finance company providing venture capital and private equity backed technology and life science companies with debt and equity growth capital, announced on April 26 it provided $5.0 million of debt financing to HedgeStreet, Inc., a regulated online financial exchange that allows online investors to trade innovative financial instruments.
"HedgeStreet is the world's first regulated online exchange where individuals can trade economic derivatives for very nominal amounts," said Manuel A. Henriquez, chairman, president and CEO of Hercules. "Small contracts in commodity markets such as oil, gold and silver, and in financial markets such as housing prices, interest rates and inflation, can be bought and sold online through HedgeStreet. The company has a great platform for active traders that allows them to speculate or hedge on daily economic events and price movements."
Hercules' debt financing was in addition to the recent completion of a $12.5 million equity funding round by Norwest Venture Partners, and an investment by the Chicago Board Options Exchange, which entered into a strategic alliance with HedgeStreet for new product development, along with joint marketing efforts and other initiatives.
"With our recent round of equity and debt financing, HedgeStreet is well-positioned to move into its next growth phase, which includes the launch of an institutional marketplace," said Steve Race, HedgeStreet's chief executive officer.