FARMINGTON, Conn., Aug. 27, 2012 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) ("Horizon"), an externally managed, leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life sciences, healthcare information and services, and clean-tech industries, today announced that its Advisor, Horizon Technology Finance Management LLC has hired Todd McDonald as Managing Director for the Mid-Atlantic Technology and Clean Technology markets, and Mike Lederman as Managing Director for the West Coast Technology and Clean Technology markets. Additionally, it has opened a new office in Reston, Virginia, expanding its geographic reach to the Mid-Atlantic region.
Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer, commented, "We are enthusiastic about the growth of Horizon and the appointment of Todd and Mike to our seasoned team. These additions and the new office in northern Virginia will enhance our venture lending platform across the U.S. and reflects our commitment to serving key markets for venture-backed companies, including the Mid-Atlantic and western regions. Both professionals bring to Horizon an established track record of originating new loans, strong relationships with the venture capital community and considerable experience providing growth capital to development-stage companies. We look forward to their contributions at Horizon as we maintain our focus on meeting the demand for our venture loan products and growing our high-quality portfolio."
Mr. McDonald has approximately 20 years of business development experience in the financial services industry. As Managing Director, Mid-Atlantic Technology and Clean Technology, he will be responsible for developing and maintaining sponsor relationships and sourcing debt financing opportunities with venture-backed companies in the Mid-Atlantic region. Previously, Mr. McDonald held various positions at Comerica Bank, most recently as Group Manager and Senior Vice President, Technology and Life Sciences Division, where he oversaw a portfolio of venture-backed technology companies and led business development initiatives across the East Coast. Mr. McDonald received a BS in Finance from University of Maryland, College Park and an MBA in Finance from San Diego State University.