A Chicago-based company has completed its acquisition of the investment advisory arm of Horizon Technology Finance Corp., a venture capital lending firm headquartered in Farmington, the companies announced Wednesday morning.
Monroe Capital LLC announced in February that it had entered into an agreement to acquire Horizon Technology’s investment adviser, Horizon Technology Finance Management LLC.Â
Under the agreement, Horizon Technology Finance Management will continue to serve as the corporation’s financial adviser. There will be no changes to the day-to-day operations of Horizon, and the company will maintain its presence in Connecticut.
Horizon’s management team and investment professionals will continue to serve as officers and senior management of the company.
Horizon Technology Finance provides loans, including debt financing, to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries.
In June 2022, the Hartford Business Journal reported that Horizon’s portfolio increased from $300 million at the beginning of 2020 to roughly $700 million. Recently, Horizon has provided loans to organic foods, recyclable packaging and environmentally-friendly construction material companies.