Hercules Technology Growth Capital, a company providing debt and equity growth capital to venture capital and private equity backed technology companies said it has promoted Samir Bhaumik and Parag I. Shah to senior managing directors.

Bhaumik, based in the Palo Alto office, has been promoted to senior managing director and head of Hercules’ technology group. Shah, based in the Boston office, has been promoted to senior managing director and head of Hercules’ life science group.