Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Shah Parag
 2. Date of Event Requiring Statement (Month/Day/Year)
03/26/2007		 3. Issuer Name and Ticker or Trading Symbol
HERCULES TECHNOLOGY GROWTH CAPITAL INC [HTGC]
(Last)
(First)
(Middle)
8 WINTER PLACE, APT. #6H		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Managing Director
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BOSTON, MA 02114		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 15,440
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant to Purchase Common Stock 06/22/2004 06/17/2009 Common Stock 2,994 $ 10.57 D  
Option to Purchase Common Stock   (1) 12/13/2011 Common Stock 5,500 $ 15 D  
Option to Purchase Common Stock   (2) 06/17/2012 Common Stock 38,000 $ 13 D  
Option to Purchase Common Stock   (3) 06/16/2013 Common Stock 94,400 $ 12.14 D  
Option to Purchase Common Stock   (4) 01/25/2014 Common Stock 80,000 $ 14.02 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Shah Parag
8 WINTER PLACE, APT. #6H
BOSTON, MA 02114		       Senior Managing Director  

Signatures

/s/Parag Shah 04/03/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) One-quarter of the options vest on 11/15/05 and three-quarters of the options vest prorata over the following twenty four months ending 11/15/07.
(2) One-Third of the options vest on 6/17/2006 and two-thirds of the options vest prorata over the following twenty four months ending 06/17/2008.
(3) One-third of the options vest on 6/16/07 and two-thirds of the options vest prorata over the following twenty four months ending 6/16/09.
(4) One-third of the options vest on 01/25/08 and two-thirds of the options vest prorata over the following twenty four months ending 01/25/10.

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