SOURCE: Horizon Technology Finance Corporation

Horizon Technology Finance Corporation

October 06, 2014 16:15 ET

Horizon Technology Finance Leads Venture Loan Facility for InVisage Technologies

FARMINGTON, CT and MENLO PARK, CA--(Marketwired - Oct 6, 2014) - Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and cleantech industries, today announced it led a venture loan facility, in which Square 1 Bank participated, for InVisage Technologies, Inc. ("InVisage"), an advanced materials & imaging platform company. InVisage will use the funds primarily for working capital purposes.

"We are pleased to add InVisage to our top tier list of venture loan portfolio companies," stated Gerald A. Michaud, President of Horizon. "InVisage's QuantumFilm™ platform and series of products address the fundamental physics limitations of today's silicon-based image sensors used in smartphone cameras and other applications. This loan facility provides InVisage with strategic capital to support the manufacturing and commercialization of its products."

InVisage President and CEO, Jess Lee, shared, "We are pleased to have Horizon as one of our investment partners and are fortunate to have attracted top-tier investors that share our vision of creating the next era of cameras -- fast, thin, high performance -- to transform the mobile, photography and connected device segments. This significant loan facility is an affirmation of the growth opportunity we see for our QuantumFilm™ platform and series of products. We now have additional financial flexibility to drive and market our capabilities to Tier 1 customers."

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, Horizon is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechnologyfinancecorp.com.

About InVisage Technologies

InVisage Technologies, Inc. is a venture-backed advanced materials & imaging platform company based in Menlo Park, Calif. that has developed QuantumFilm™, a breakthrough camera technology. Its first product captures high-fidelity, high-resolution images from mobile devices such as camera phones and digital cameras. Founded in 2006, InVisage Technologies is venture funded by GGV Capital, Nokia Growth Partners, RockPort Capital, InterWest Partners, Intel Capital, and OnPoint Technologies. More information is available at www.invisage.com.

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact Information

  • CONTACT:

    Horizon Technology Finance Corporation
    Christopher M. Mathieu
    Chief Financial Officer
    (860) 676-8653
    chris@horizontechfinance.com

    Investor Relations and Media Contact:
    The IGB Group
    Leon Berman
    (212) 477-8438
    lberman@igbir.com