Horizon Technology provides Q4 portfolio update
Horizon Technology Finance Corporation provided its portfolio update for the fourth quarter ended December 31, 2018. "As anticipated, our fourth quarter was a very active and effective one at Horizon," said Gerald A. Michaud, President of Horizon. "For the third consecutive quarter, we increased the size of our portfolio, buoyed by the origination of $47M of new loans, which highlights the strong demand for our venture debt solutions. We also received full prepayment proceeds from three of our existing portfolio investments, providing us with solid returns and the potential for additional returns in the future through our retention of warrants." "In addition, we transferred three of our recent portfolio investments to our joint venture with Arena Investors, which further seeded the venture and, most importantly, allows it to begin accessing its $100M senior secured debt facility," added Mr. Michaud. "Along with the recent $25M expansion of our credit facility with KeyBank, we have abundant capacity from which to fund new investments and grow our portfolio, leaving us well positioned to continue delivering long-term value for our shareholders."