Horizon Technology Finance and Trinity Capital Provide $40MM Venture Loan to Nexii
SEP 14, 2021 - 6:10 am
Horizon Technology Finance along with lending partner Trinity Capital, provided a $40 million venture loan to Nexii Building Solutions, a green construction technology company focused on creating environmentally-friendly, durable, cost-efficient and disaster-resilient buildings.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management, Horizon’s advisor, provided Nexii with $22.5 million and $7.5 million, respectively, while Trinity provided $10 million. Nexii expects to use the loan proceeds for general growth and working capital purposes.
“Nexii’s advanced building solutions and environmentally conscious construction materials and methods are bringing game changing innovation to the construction industry, reducing project build times and costs, while ensuring buildings are more efficient, sustainable, and resilient to climate impacts,” Gerald A. Michaud, president of Horizon, said. “We are excited to support Nexii as it seeks to further expand its market share in the construction sector.”
“We are proud to partner with the team at Nexii, whose mission to build a vibrant future for the people and planet is combined with a quantum leap in building technology,” Ron Kundich, senior managing director of Trinity Capital, said. “We’re all aware of the ongoing effort to transition to a zero-carbon economy, and Nexii’s innovative approach positions them at the forefront of sustainable buildings, which require fewer resources, produce less waste, and use non-toxic materials for healthier living.”
“Two leading venture and growth stage lenders, Horizon and Trinity, have come together to partner with Nexii, and we are so thankful to have their support,” Stephen Sidwell, co-founder and chief executive officer of Nexii, said. “With this funding, we are able to further expand our project capacity, increase the speed of delivery for our transformative green building solutions, and take a step forward towards realizing our goal of having sustainable construction technology in every sector of business and every area of the world.”
The COVID-19 pandemic has changed a lot of things, especially when it comes to how we interact with other people. One of the primary places those interactions took place before the pandemic was the office. But just as the pandemic... read more
Young leaders can breathe new life into an organization by sharing their ideas and advice. In interviews with 2021 Monitor NextGen Leaders, we asked an important question: What would be your top priority if you were appointed CEO of an... read more