FARMINGTON, Conn., Oct. 10, 2023 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today that on September 15, 2023 it provided a $35 million venture loan facility to Mirantis, Inc. ("Mirantis"), of which $20 million has been initially funded.
Mirantis frees developers to create their most valuable code, building and managing open cloud software infrastructure, enabling enterprises across a wide range of industries to ship code more rapidly, notably improving the productivity and efficiency of developers. Through its use of open-source technologies, Mirantis leverages technology to allow organizations to automate, build, test, release and run modern software applications in the cloud. Mirantis serves more than 700 enterprise customers and supports 400,000 container nodes in production. Lens, Mirantis' Kubernetes development platform, supports more than 50,000 companies and 1 million users. Mirantis is backed by top-tier investors including Intel Capital and Insight Partners. The company will use the loan proceeds for general growth and working capital.
"Mirantis eliminates the need for companies to devote vast resources to creating and managing their tech infrastructure," said Gerald A. Michaud, President of Horizon. "Through its cloud infrastructure, Mirantis has developed a loyal base of Fortune 100 clients that are optimizing their IT efficiency and creating additional value for their customers. We are pleased to support Mirantis' ongoing expansion."
"Horizon's support is a catalyst to help us pursue our growth strategy and accelerate our ability to empower enterprises to easily control and enhance their tech infrastructures," said Adrian Ionel, Chief Executive Officer of Mirantis. "Mirantis is transforming how companies manage their IT infrastructure while greatly improving their efficiency and overall software development process, which ultimately increases their productivity and creativity."
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a $17 billion asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit horizontechfinance.com.
Mirantis helps organizations ship code faster on public and private clouds, increasing developer productivity by removing the stress of managing infrastructure. The company combines intelligent automation and cloud native expertise to provide a ZeroOps approach to managing and operating Kubernetes and cloud environments. Mirantis delivers a public cloud experience on any infrastructure, from the data center to the edge, with one cohesive cloud experience for complete app and DevOps portability, a single pane of glass, and automated full-stack lifecycle management, all based on open source.
Mirantis has a strong record of acquisitions – most recently, Shipa in January, amazee.io in July 2022, the staff behind Kontena in 2020, and Docker Enterprise in 2019 – and incorporating those companies' technologies into the Mirantis product portfolio in order to boost developer productivity.
Mirantis serves many of the world's leading enterprises, including Adobe, DocuSign, Inmarsat, PayPal, Reliance Jio, Societe Generale, Splunk, and S&P Global. Learn more at www.mirantis.com.
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 the Company's 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.
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SOURCE Horizon Technology Finance Corporation