Hercules Capital, Inc. announced that its board of directors has appointed Scott Bluestein as Chief Executive Officer and President, effective immediately. Mr. Bluestein, who has held several leadership roles in his nine years with the Company, has served as Hercules' interim CEO since March 2019 and as Chief Investment Officer since 2014. Mr. Bluestein has also been elected to Hercules' board of directors.

Mr. Bluestein has nearly 20 years of financial services, direct investment and credit experience. He was appointed Hercules' Chief Investment Officer in 2014 and before that was the Company's Chief Credit Officer for four years. Mr. Badavas has been an independent director of Hercules for 13 years and lead independent director for the last two years.

Mr. Badavas was appointed Chairman of the Board in May 2019.