Monroe Capital has completed the acquisition of Horizon Technology Finance Management LLC (“Horizon”), a market leader in venture debt lending. Horizon is the investment adviser to Horizon Technology Finance Corporation.
Horizon is a leading investment manager of venture debt products for high-growth companies in the technology, life sciences, healthcare information and services, and sustainability industries. As a pioneer in venture debt, since its founding in 2004, Horizon has invested in more than 315 venture-backed companies. The acquisition of Horizon augments Monroe Capital’s existing platform with an experienced investment team and distinguished track record across multiple market cycles.
Ted Koenig, Chairman and CEO of Monroe, commented, “As one of the largest U.S. venture debt platforms, Horizon is a strong addition to Monroe’s diverse portfolio of other U.S. direct lending products, including CLOs, lower middle market lending, opportunistic lending and real estate. We look forward to working closely with a best-in-class management team to grow our platform over the long term. The acquisition continues Monroe’s strategy of providing differentiated niche-focused investment solutions to institutional and high net worth clients around the world. We are excited by the prospects of leveraging our platform to offer our limited partners a differentiated lending product in one of the fastest growing segments of private credit.”
Zia Uddin, President of Monroe, stated, “Combining Horizon’s prominence in the venture market with Monroe’s experience in financing later stage growth equity, private equity and privately held companies provides Monroe with a unique opportunity to work with a company across every stage of its growth cycle. We believe venture debt will play an increasingly meaningful role in the future growth of direct lending given the changes in the broader economic environment and dislocation that has occurred in the venture debt arena.”
Rob Pomeroy, CEO of Horizon, commented, "We are delighted to join a premier global asset manager, Monroe Capital. Through our combined expertise, we are confident this relationship will enable us to build on the long-standing success of Horizon. This acquisition provides us access to Monroe’s platform, expertise and resources to scale our financing capabilities to dynamic, high growth companies in the venture debt arena.”
Horizon’s current management team and investment professionals of Horizon are continuing to serve as officers and senior management of the company.
Monroe announced its agreement to acquire Horizon on February 23, 2023.