Horizon Technology Finance Corp., an affiliate of Monroe Capital and a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity backed and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries, announced that, as part of the Company’s succession planning, Robert D. Pomeroy Jr. will retire as CEO of the Company and Gerald A. Michaud will retire as President of the Company, both effective June 5, 2025.
Concurrently, the Board of Directors of the Company (the “Board”) has appointed Michael P. Balkin to succeed Pomeroy as CEO of the Company. Pomeroy will remain Chairman and an interested member of the Board after his retirement. Michaud will remain involved with the company through the end of the year.
Having previously served as an independent director of the Company since June 2023, Balkin will build on the heritage of Horizon by continuing to grow the venture debt portfolio with a renewed focus on high quality, small-cap growth companies. As CEO of Horizon, Balkin will leverage his three decades of experience and expertise as a Partner and Co-Manager of the Small-Cap Growth Fund at William Blair and Partner and Chief Investment Officer at Magnetar Investment Management, a wholly-owned subsidiary of Magnetar Capital, a multi-strategy hedge fund.
“Mike’s knowledge and experience in investment and portfolio management and construction, as well as his more than three decades of work growing small-cap and technology companies as a portfolio manager and board member makes him an excellent choice to lead Horizon during its next phase of growth,” stated Pomeroy. “The Board and I believe Mike will lead the continued expansion of the Horizon platform and drive long-term value for HRZN’s stockholders, and we are excited to work with him.”
“I want to congratulate Rob and Jerry on their well-deserved retirements. They will remain a vital and active voice for Horizon in their respective continued roles,” said Theodore L. Koenig, Chairman and CEO of Monroe Capital. “This planned leadership succession reflects the vision of the Company’s management team and Board of Directors, who have worked collaboratively to ensure a seamless and effective transition of responsibilities. Mike is the right leader to guide Horizon into its next chapter.”
“I am honored to be stepping into the role of CEO of Horizon and build upon the solid foundation laid by Rob and Jerry’s team over the past 20+ years to further expand the Horizon platform,” said Balkin. “We will continue to focus on diversification, mitigation of risk and portfolio growth while remaining true to Horizon’s investment objective of maximizing return by generating current income from debt investments and capital appreciation from the warrants it receives when making debt investments.”