Horizon Technology originates $33.5M in new loans in Q1

Horizon Technology provided its portfolio update for the first quarter ended March 31, 2024 and an update on the lending platform of Horizon Technology Finance Management LLC, its investment adviser. “HRZN funded $34 million in new loans in the first quarter, as we continued to monitor the changing venture environment and maintained our cautious approach,” said Gerald A. Michaud, President of HRZN and HTFM. “We are now seeing some green shoots in our markets which we find encouraging. While we watch these developments, we continue to maintain a significant committed backlog of debt investments, which totaled $168 million as of March 31. Our backlog should provide a solid foundation for new debt investments to existing and new portfolio companies in the quarters ahead. During the quarter, we also received $20 million in loan payoffs and partial paydowns, generating accelerated income and prepayment fees, which added to our regular investment income from interest on our outstanding debt investments. Looking forward, we believe HRZN remains well positioned to prudently grow its portfolio of debt investments, while delivering additional value to HRZN’s shareholders.”