Boutique asset management firm Monroe Capital has completed the previously announced acquisition of venture debt lending firm Horizon Technology Finance Management.
The deal was announced in February 2023 and its financial terms were not revealed.
Based in the US, Horizon Technology Finance Management is the investment adviser to Horizon Technology Finance Corporation, a Nasdaq-listed specialty finance company.
Horizon Technology Finance Management serves as an investment manager of venture debt products for high-growth companies in the technology, healthcare information and services, life sciences, and sustainability sectors.
Established in 2004, it has invested in over 315 venture-backed companies.
Through the acquisition, Monroe Capital expects to power its existing platform with an experienced investment team and notable track record across various market cycles.
Horizon Technology Finance Management CEO Rob Pomeroy 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.”
Headquartered in Chicago, Monroe Capital focuses on private credit markets across various strategies, including technology finance, venture debt, direct lending, opportunistic, structured credit, real estate, and equity.
The firm’s platform is said to provide a range of investment products for both institutional and high net worth investors to create high quality alpha returns, regardless of business or economic cycles.
Monroe Capital president Zia Uddin said: “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.”
