Hercules slaps The Funded with “Cease and Desist”
(updated with response from Hercules)
Hercules Technology, a Silicon Valley debt firm, has sent The Funded, a site that lets CEOs comment on their investors, with a “cease and desist” letter.
The letter cites a posting on The Funded that says Hercules is “horrible” and recommends that other CEOs should “avoid it like the plague.” Hercules misrepresented its investment review process and failed to understand basic math, the commenter continued.
Hercules’ letter to The Funded said the comment… Continue Reading
PSS Systems, data retention software co., raises $5M in debt
PSS Systems, a Mountain View, Calif. company that helps businesses comply with legal regulations on data retention laws by offering so-called “legal holds and retention management” software, has raised $5 million in debt.
Hercules Technology Growth Capital said it was among those providing the debt. PSS has previously been backed by Azure Capital Partners, Lightspeed Venture Partners and others.
Portola Pharma gets $20M debt financing
Portola Pharmaceuticals, a South San Francisco biotech company developing cardiovascular and vascular disease therapies, has raised $20 million in debt financing from Hercules Technology Growth Capital.
Portola is already backed by venture firms Abingworth, Alta Partners, ATV, Frazier Healthcare Ventures, MPM Capital, Prospect Ventures and Sutter Hill Ventures.
The company said it has two drug candidates in clinical development: 1) an oral Factor Xa inhibitor in a Phase II trial for the prevention of Deep Vein Thrombosis… Continue Reading