Monroe Capital completed its previously announced acquisition of Horizon Technology Finance Management, a venture debt investment manager for companies in the technology, life sciences, healthcare information and services, and sustainability industries. Horizon Technology Finance Management is also the investment adviser to Horizon Technology Finance.
“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,” Ted Koenig, chairman and CEO of Monroe Capital, said. “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 platformoffer our limited partners a differentiated lending product in one of the fastest growing segments of private credit.”
“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,” Zia Uddin, president of Monroe Capital, said. “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.”
“We are delighted to join a premier global asset manager, Monroe Capital,” Rob Pomeroy, CEO of Horizon Technology Finance Management, said. “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 will continue to serve as officers and senior management of the company.