Horizon Technology Finance appoints Daniel Devorsetz as COO
FARMINGTON, Connecticut., June 9, 2021 / PRNewswire / – Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), a leading specialty finance company that provides capital in the form of secured loans to equity-backed companies risk in the fields of technology, life insurance science, information and health services and sustainable development industries, announced today that it has appointed Daniel S. Devorsetz as chief operating officer with immediate effect.
In addition, Devorsetz was concurrently appointed Chief Operating Officer of Horizon’s external investment advisor, Horizon Technology Finance Management LLC (the “Advisor” or “HTFM”). He currently serves as the Chief Investment Officer for Horizon and the Advisor, and will continue to do so. He reports to the President of Horizon Gerald A. Michaud.
Devorsetz joined HTFM in 2004 as Vice President, Credit, responsible for credit underwriting and portfolio management. He wrote the policies and developed the tools and systems used by the team to structure, underwrite and monitor its investments. Devorsetz was promoted to Chief Credit Officer in 2008 and appointed Chief Investment Officer in 2014. In recent years, his efforts have further enhanced Horizon’s business development, credit operations and portfolio management functions.
“This appointment is well deserved and the culmination of many years of hard work and dedication to our organization,” said Michaud. “As one of Horizon’s first employees, Dan has always approached his role with an entrepreneurial instinct and over time has built our institutional quality platform to accommodate size, the growing scope and complexity of the subprime loan market. This appointment reflects his expanded role. , and we look forward to many years of his leadership. “
Prior to joining Horizon, Devorsetz was Vice President of the Life Sciences Funding Group of General Electric Capital Corporation, where he was primarily responsible for underwriting and portfolio management of debt and equity investments for companies. life sciences funded by venture capital. Previously, he was the Credit Manager at GATX Ventures, Inc., the subprime lending subsidiary of GATX Corporation, and was a member of the GATX International Credit Committee. His previous experience also includes positions as Vice President and Director of Student Loan Analysis at Citigroup, as well as positions at Advest, Inc. and Ironwood Capital. He holds a Bachelor of Science degree from Cornell University and a master’s degree in business administration from Clark University, and is also a Chartered Financial Analyst.
Outside of Horizon, he sits on the finance council of City of Brookfield, Connecticut, and is the chairman of the city audit committee.
“I am proud of the company and the culture we have built at Horizon over the years, and I am grateful for this promotion and recognition,” said Devorsetz. “As the venture capital investment ecosystem continues to grow and mature, our business becomes increasingly competitive and complex, requiring a more creative and systematic approach to deal research, underwriting and financing. portfolio management. We have built a particularly talented team at Horizon, and I look forward to continuing to work with them to further expand our platform and deliver exceptional returns to our investors in the years to come. “
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company providing capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainable development. Horizon’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives. during these debt investments. Horizon is headquartered at Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit www.horizontechfinance.com.
SOURCE Horizon Technology Finance Corporation