Runway Growth Finance Provides Q3 Operational and Portfolio Update
Runway Growth Finance Corp., a leading provider of flexible capital solutions, has released its operational and portfolio update for the third quarter of 2023. The company’s focus on partnership with portfolio companies has generated investment opportunities, enabling them to realize the full earnings potential of their credit-first portfolio.
Greg Greifeld, acting CEO of Runway Growth and Deputy CIO and Head of Credit of Runway Growth Capital, expressed confidence in the company’s ability to offer non-dilutive growth capital to companies seeking to fuel future growth. The third quarter saw Runway Growth funding six investments, including one in a new portfolio company and five in existing portfolio companies.
During the quarter, Runway Growth experienced five prepayments totaling $125.3 million, further strengthening their balance sheet. The company’s portfolio is constructed to be one of the most stable platforms in the venture debt landscape, with a focus on first lien senior secured loans and high-quality companies in the late and growth-stage.
As of September 30, 2023, Runway Growth’s portfolio included 29 debt investments and 62 equity investments in various industries such as technology, life sciences, and consumer services. The company maintains frequent communication with portfolio companies and employs risk mitigation methods to deliver attractive returns for shareholders.
Runway Growth remains confident in the durability of its portfolio, which has industry-leading low loss rates. The team continues to see strong demand for their creative financing solutions and will maintain selectivity to minimize losses and maximize returns.
Runway Growth Finance Corp. is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies. It is externally managed by Runway Growth Capital LLC, led by industry veteran David Spreng.
For more information, please visit www.runwaygrowth.com.