Horizon Technology Finance appointed Daniel S. Devorsetz COO, effective immediately. In addition, Horizon Technology Finance concurrently appointed Devorsetz COO of its external investment advisor, Horizon Technology Finance Management.
Devorsetz currently serves as CIO for both Horizon Technology Finance and Horizon Technology Finance Management, and will continue in those roles. He will continue to report to Gerald A. Michaud, president of Horizon Technology Finance.
Devorsetz joined Horizon Technology Finance Management in 2004 as vice president of credit and was responsible for credit underwriting and portfolio management. He authored the policies and developed the tools and systems used by the team to structure, underwrite and track its investments. Devorsetz was promoted to CCO in 2008 and named CIO in 2014. In recent years, his efforts have further enhanced Horizon Technology Finance’s business development, credit operations and portfolio management functions.
“This appointment is well deserved and the culmination of many years of hard work and dedication to our organization,” Michaud said. “As one of Horizon’s early employees, Dan has always approached his role with an entrepreneurial instinct and over time has built our institutional grade platform to adapt to the growing size, scope and complexity of the venture lending marketplace. This appointment reflects his expanded role, and we look forward to many more years of his leadership.”
Prior to joining Horizon, Devorsetz was a vice president in GE Capital’s life science finance group, where he was primarily responsible for the underwriting and portfolio management of debt and equity investments to venture capital-backed life science companies. Prior to that, he was a credit manager at GATX Ventures, the venture lending subsidiary of GATX, and was a member of GATX’s international credit committee. His previous experience also includes roles as vice president and director of analysis for student loans with Citigroup and positions at Advest and Ironwood Capital.
Outside of Horizon, he serves on the board of finance for the town of Brookfield, CT, and is the chair of the town’s audit committee.
“I am proud of the company and culture we have built at Horizon over the years and am grateful for this promotion and recognition,” Devorsetz said. “As the venture investing ecosystem continues to grow and mature, our business is becoming more competitive and complex, requiring a more creative and systematic approach to transaction sourcing, underwriting and portfolio management. We have built an especially talented team at Horizon, and I look forward to continuing to work with them to further expand our platform and deliver exceptional returns to our investors in the years to come.”