- Completed Six Investments in New and Existing Portfolio Companies
- Achieves record quarterly and annual loan origination volume of $216 million and $563 million, respectively
- Total Loan Commitments and Funded Investments Grow To $1.4 Billion and $1.2 Billion Since Inception
WOODSIDE, Calif., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (“Runway Growth”) (Nasdaq: RWAY), a leading provider of flexible capital solutions to late-stage and growth companies seeking an alternative to raising equity, today announced a portfolio update for the fourth quarter ended December 31, 2021.
“Runway delivered record fourth quarter and full-year originations underpinned by our focus on credit quality while supporting the expansion initiatives of high-growth businesses and talented entrepreneurs,” said David Spreng, Founder and CEO of Runway Growth. “Our investment in our team is paying off and we are capitalizing on geographic and industry tailwinds. Additionally, we began our long-term initiative of prudently deploying additional leverage in the quarter. We put capital to work, utilizing IPO proceeds, initial proceeds from our recent debt private placement, and drawing upon our bank lines to fund new investments. Runway Growth has strong momentum with a robust pipeline entering 2022, and we look forward to continuing to execute our long-term growth strategy and driving shareholder value.”
Originations
In the fourth quarter of 2021, Runway Growth funded six investments: three investments in new portfolio companies, and three new investments in existing portfolio companies. These include:
Liquidity Events
During the fourth quarter ended December 31, 2021, Runway Growth experienced the following liquidity events totaling $103.2 million:
About Runway Growth Finance Corp.
Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late-stage and growth companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment advisor that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.
Forward-Looking Statements
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, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. 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 Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth 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.
IR Contacts:
Alex Straus, Prosek Partners, [email protected]
Thomas B. Raterman, Chief Financial Officer, [email protected]
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