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Horizon Technology Finance
Robert Pomeroy leads Horizon Technology Finance, a BDC that has deployed over $3B in venture debt to 55 companies including Canva and Velo3D.
Horizon Technology Finance
Horizon Technology Finance Corporation was founded in 2010 and structured as a Business Development Company under the Investment Company Act of 1940. Robert D. Pomeroy, Jr. has led the firm as CEO since its initial public offering, with President Gerald A. Michaud overseeing the investment team's origination and underwriting across technology, life sciences, and sustainability sectors. The firm operates from Farmington, Connecticut, with an additional lending presence in Pleasanton, California. Horizon provides secured loans — typically ranging from $5 million to $30 million — to venture-backed companies across enterprise software, digital health, cleantech, robotics, and AI. The portfolio spans both Horizon-originated direct loans and a managed co-investment vehicle, Horizon Technology Finance Management LLC, which advises a private credit fund and Horizon's own publicly traded entity. Confirmed portfolio names include Canva, Nanosys, and Velo3D. The firm also acquires venture debt portfolios, purchasing a $100 million tranche from Bridge Bank in 2023 to scale its exposure to curated early-growth names. The firm's platform totals $708 million in committed debt and warrant holdings across 55 companies as of September 2024 (per SEC filings, Q3 2024). Horizon supplements its balance sheet with a $200 million revolving credit facility led by KeyBanc and a perpetual-life private fund structure that enables long-duration hold periods unmatched by typical five-year venture debt funds. September 2024: Horizon closed a new $100 million senior secured credit facility with a syndicate including ING Capital and Zions Bancorporation (per the firm, September 2024). Horizon's structural differentiator is its dual-channel sourcing model: it both originates proprietary loans to later-stage venture companies and acquires seasoned debt pools from departing lenders, giving it diversified entry points into names typically accessible only through eco-system-level relationships. This hybrid approach — matched with a permanent BDC vehicle — removes the forced-exit pressure built into traditional venture debt fund structures, allowing Horizon to extend or amend loans based solely on underlying portfolio company performance.
General information
Firm type
Asset Manager
Year founded
2010
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Farmington
Corporate office
Farmington, CT, United States
Principals
Robert D. Pomeroy, Jr.
Chief Executive Officer
Daniel R. Trolio
Chief Financial Officer
Gerald A. Michaud
President
Sector focus
Frequently asked questions
How does Horizon Technology Finance source its loan portfolio?
Horizon combines direct origination with venture capital and private equity sponsors with a secondary purchasing strategy that acquires seasoned venture debt portfolios from exiting lenders. In 2023, the firm bought a $100 million pool of loans from Bridge Bank (per public filings), supplementing its internal sourcing from relationships with venture investors such as NEA and Bain Capital Ventures.
What makes Horizon's structure different from a traditional venture debt fund?
As a publicly traded BDC under the Investment Company Act of 1940, Horizon operates a permanent-capital vehicle with no finite fund life — meaning it can hold loans through maturity, extend them, or restructure them without the forced-disposition timeline of a traditional five- to seven-year debt fund. This structural permanence is supplemented by a perpetual-life private credit fund Horizon advises.
Does Horizon Technology Finance make equity investments or only debt?
The firm primarily makes floating-rate senior secured loans, but it typically receives equity warrants alongside each debt transaction, giving it embedded equity upside in its portfolio companies. Horizon does not invest as a primary equity participant or lead equity rounds — its warrants serve as yield enhancement rather than a distinct equity investment strategy.
What size loans does Horizon write, and to what stage of company?
Horizon targets loan commitments between $5 million and $30 million, with the borrower typically having raised at least $20 million in venture equity from institutional investors. Target companies are generally late-stage venture capital-backed businesses with commercial revenue and expanding markets — not pre-revenue science or seed-stage startups.
How is Horizon Technology Finance regulated?
Horizon is regulated as a Business Development Company under the Investment Company Act of 1940. As a BDC, it must distribute at least 90 percent of taxable income to shareholders, maintain asset coverage ratios, and file periodic reports including 10-Ks and 10-Qs with the SEC — giving investors full regulatory transparency into its portfolio composition.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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