Deal Announcements

Hercules Invests $2M In Two Social Net Sites

Monday, April 02, 2007 6:00:00 AM PDT | VentureDeal Staff

PALO ALTO, CA -- Hercules Technology Growth Capital (Nasdaq: HTGC) announced the recent investment of $1 million each in two social networking companies.

Wallop, Inc. was one recipient.  The company is a spin-out of Microsoft Research and Microsoft IP Ventures and is backed by venture firms Norwest Venture Partners and Bay Partners.

The other million dollar investment was in an unidentified Los Angeles-based multimedia social networking company for pop culture and music.

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