“The momentum Horizon saw in terms of originations toward the end of 2020 nicely carried into the first quarter, as Horizon once again grew its portfolio, originating
First Quarter 2021 Portfolio Update
During the first quarter of 2021, a total of
$10.0 millionto a new portfolio company, an oral health company that designs and delivers products and professional dental services. $7.5 millionto a new portfolio company, a provider of end-to-end hardware and software contactless dining solutions. $7.0 millionto a new portfolio company, a developer of predictive analytics solutions for supply chain and logistics professionals. $7.0 millionto an existing portfolio company, Getaround, Inc., a peer-to-peer car sharing platform. $6.0 millionto a new portfolio company, Primary Kids, Inc., an online baby and children’s clothing brand. $5.0 millionto a new portfolio company, Clara Foods, Inc., a developer of animal-free proteins as ingredients for food and beverages. $5.0 millionto an existing portfolio company, a developer of a software-defined composable infrastructure platform. $3.5 millionto a new portfolio company, InfoBionic, Inc., a developer of an FDA-cleared SaaS remote monitoring system to help treat cardiac arrhythmia.
Horizon experienced liquidity events from three portfolio companies in the first quarter of 2021, including principal prepayments of
- In February, Horizon received proceeds totaling
$0.8 millionupon the exercise and sale of warrants, in OnTrak, Inc.
- In March, a portfolio company prepaid its outstanding principal balance of
$9.7 millionon its venture loan, plus interest, end-of-term payment and prepayment fee. Horizon continues to hold warrants in the company.
- In March,
IgnitionOne, Inc.prepaid its outstanding principal balance of $7.5 millionon its venture loan, plus interest, end-of-term payment and prepayment fee.
Principal Payments Received
During the first quarter of 2021, Horizon received regularly scheduled principal payments on investments totaling
During the first quarter ended
Pipeline and Term Sheets
During the quarter, HTFM signed term sheets to potentially provide up to
Capital Markets Activity – Warrant and Equity Portfolio
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 Horizon’s filings with the