“During the first quarter, we were selective with respect to new originations in light of the challenging venture debt environment, while our investment portfolio continued to generate net investment income that exceeds our distributions,” said Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer of Horizon. “We also continued to work diligently toward maximizing outcomes for our stressed investments, as we maintained active relationships with all of our portfolio companies. Despite the challenges in the venture market, we believe there are positive market signs, including an increase in demand from quality companies. Accordingly, we seek to grow our portfolio, while we remain cautious with respect to new originations. As always, we will continue to focus on maximizing NAV.”