Hercules taps Avenue Asia exec as new CFO

Mark Harris will join the speciality finance company on 1 August. He previously held various senior roles at Avenue Capital’s Asia group.  

Hercules Technology Growth Capital, a Palo Alto, California-based speciality finance company and BDC, has hired Mark Harris as its new chief financial officer. He will start at Hercules on 1 August and joins from Avenue Capital Group’s Asia strategy, where he most recently served as a portfolio manager. He previously held titles of CFO and senior managing director/head of Asia. His last day at Avenue was 5 June.*

Avenue announced in October that Anil Gorthy were named senior portfolio manager of the Avenue Asia Strategy and Dan Galanter was hired as senior managing director of Avenue Capital Group in Asia. They came on board from PAG, an Asia focused alternative investment firm, and started in December to lead the Avenue Asia Strategy and replace Harris, who has been transitioning out since.

At Hercules, Harris will replace Jessica Baron, who left the firm yesterday (9 June). Andrew Olson, the firm’s corporate controller, is overseeing CFO responsibilities on an interim basis until Harris starts, the firm said in a statement.

In addition to leading Hercules’ finance and accounting groups, Harris will also oversee the company’s operations, investor relations and human resources teams. He will report directly to Manuel Henriquez, Hercules’ chairman and chief executive.

“With 20 years of experience working within public companies, as well as his investment knowledge of the direct lending and mezzanine space as portfolio manager at Avenue Capital, Mark will play an integral role in helping me lead Hercules through the next stage of its evolution. Further, Mark’s global debt investment expertise will add depth to our originations platform and greatly benefit Hercules’ growth strategy,” Henriquez said in a statement.

Hercules Technology Growth Capital is publicly traded on the New York Stock Exchange under “HTGC”. It provides senior secured loans to venture capital-backed companies in technology-related industries, including technology, biotechnology, life sciences, as well as energy and renewable technology. Since inception in December 2003, Hercules has committed $5.2 billion to 320 companies.

* This story was updated on 11 June to reflect that Harris has already left Avenue Asia and was a portfolio manager there, not CFO or head of Asia, most recently.