August 24, 2012

Farm'ton's Horizon Tech secures $75M loan facility

Farmington's Horizon Technology Finance Corp. said Friday it has closed on a new $75 million loan facility that will allow the venture capital firm to deploy additional capital to development-stage companies.

The loan facility from Fortress Credit Co. has a three-year term subject to two one-year extensions with a draw period of up to four years.

The company received an initial advance of $10 million and will use the finds to leverage existing investments and make new investments in development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries.

Horizon Technology also has existing credit facilities with Wells Fargo Capital Finance and WestLB.

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