Welcome to our dedicated page for Runway Growth Finance news (Ticker: RWAY), a resource for investors and traders seeking the latest updates and insights on Runway Growth Finance stock.
Runway Growth Finance Corp. (Nasdaq: RWAY) is a specialty finance company dedicated to providing senior secured loans to high-growth-potential companies across a variety of industries including technology, life sciences, healthcare information and services, business services, and select consumer services and products. The company leverages its capital, as well as relationships and expertise, to help dynamic companies achieve their fullest potential.
Founded in 2015 and managed by Runway Growth Capital LLC, an established registered investment advisor led by industry veteran David Spreng, Runway Growth is a closed-end investment fund regulated as a business development company under the Investment Company Act of 1940. With a robust portfolio primarily concentrated in the United States, but also featuring investments in Germany and Canada, Runway Growth focuses on late- and growth-stage businesses that seek an alternative to raising equity.
Runway Growth's recent achievements include a strategic joint venture with Cadma Capital Partners LLC to form Runway-Cadma I LLC, aimed at financing private and sponsor-backed late- and growth-stage companies with a financing capacity of up to $200 million. This collaboration is set to enhance asset origination and deliver quality returns while maintaining excellent credit quality.
In 2023, Runway Growth reported a total investment income of $39.2 million for the fourth quarter, compared to $36.5 million in the same period in 2022. Despite a challenging economic environment, the company maintained industry-leading credit quality and expanded its return on equity by 33 basis points. As of December 31, 2023, the company's investment portfolio had an aggregate fair value of approximately $1.0 billion.
Looking ahead, Runway Growth continues to focus on prudently deploying capital to support high-quality, late-stage companies. With approximately $319.9 million in available liquidity as of March 31, 2024, the company is well-positioned to execute against its long-term growth strategy and deliver sustainable shareholder value.
Runway Growth's commitment to providing flexible capital solutions is underscored by its disciplined approach to portfolio management and consistent partnership with borrowers. The company’s leadership in the venture debt ecosystem and strategic growth initiatives make it a significant player in the specialty finance sector.
Runway Growth Capital has promoted Greg Greifeld to Chief Investment Officer. Previously serving as Managing Director, Deputy Chief Investment Officer, and Head of Credit, Greifeld will now oversee the company's investment strategy, deal structuring, and portfolio management.
In his expanded leadership role, Greifeld will focus on enhancing underwriting discipline, expanding industry relationships, and identifying strategic growth opportunities. Under his leadership, Runway has developed industry-leading underwriting, monitoring, and portfolio management tools that have contributed to strong credit performance.
Greifeld has been recognized in Venture Capital Journal's '40 Rising Stars Under 40' and Private Debt Investor's 'Rising Stars 2020' for advancing the firm's investment strategies and operational efficiency. The promotion acknowledges his significant contributions to Runway's investment platform, credit processes, and portfolio performance.
Runway Growth Capital has announced its role as lead lender in a $75 million senior secured term loan facility, part of a larger $120 million financing package for Piano. The financing includes a $45 million Series D investment led by Updata Partners. Piano, a global leader in digital experience management founded in 2010, will use the capital to optimize its platform, expand market presence, and support strategic growth initiatives.
Piano's platform helps brands and publishers achieve revenue growth through customer journey orchestration and advanced analytics. The company operates in over 15 offices worldwide, including Amsterdam, Paris, Singapore, and Tokyo, serving clients across six continents. Piano has earned recognition from organizations like Red Herring, World Economic Forum, and Deloitte for its growth and innovation.
Runway Growth Finance Corp. (Nasdaq: RWAY) has scheduled the release of its fourth quarter and full year 2024 financial results for Thursday, March 20, 2025, after market close. The company will host a conference call to discuss these results at 2:00 p.m. PT (5:00 p.m. ET) on the same day.
Participants interested in joining the conference call or webcast must register through the Runway Growth Investor Relations website, preferably a day in advance or at least 15 minutes before the call begins. A replay of the webcast will be accessible two hours after the call and will remain available on the website for 90 days.
Runway Growth Capital has completed its acquisition by BC Partners Credit and Mount Logan Capital. The transaction combines Runway's venture debt expertise with BC Partners Credit's $8 billion credit platform and Mount Logan Capital's alternative asset management capabilities. Runway will continue to operate independently and serve as the external investment adviser to Runway Growth Finance Corp. (RWAY), with the current management team remaining in place.
The deal aims to accelerate capital formation and diversify financing options. Runway will maintain its focus on providing growth loans in the $30-150 million range to venture and non-venture-backed companies. The combined entity will leverage BC Partners Credit's global scale and resources to expand investment capabilities and enhance financing solutions for high-growth companies in the venture debt and growth sectors.
Runway Growth Finance Corp. (RWAY) completed seven investments totaling $154 million in funded loans during Q4 2024, including two new portfolio companies and five existing ones. Major investments included $41 million to VertexOne, $40 million to Brivo, $43 million to Piano Software, and $26.7 million to Hurricane CleanCo.
The company experienced several liquidity events, including full principal repayments from VertexOne ($91.7 million), Brivo ($32.3 million), Predactiv ($18.5 million), and Betterment Holdings ($8 million). As of December 31, 2024, the portfolio included 47 debt investments across 32 companies and 88 equity investments in 53 companies, focusing on technology, healthcare, and consumer services sectors.
Runway Growth Capital and BC Partners Credit have announced a $131 million financing commitment to VertexOne, a leading provider of software solutions for utilities. The funding will enable VertexOne to refinance existing obligations, acquire Accelerated Innovations for $32.5 million, and enhance its platform capabilities.
The strategic acquisition of Accelerated Innovations and its MyMeter technology will strengthen VertexOne's position in the electric, gas, and water utility markets. The integration will create a comprehensive platform combining customer information systems with advanced analytics, billing solutions, and real-time customer engagement.
As part of the financing arrangement, Greg Greifeld, Managing Director and Deputy Chief Investment Officer at Runway, will join VertexOne's Board of Directors. VertexOne has been a Runway portfolio company since December 2021.
Runway Growth Capital has announced a $23 million growth capital commitment to Snap! Mobile, a leading fundraising platform for schools and organizations. Snap! has helped raise over $900M for 125,000+ groups and teams, reaching 12.5M+ participants and donors. The platform provides comprehensive software solutions for athletic directors and coaches, including account disbursements, scheduling, communications, and team store management. The funding will enable Snap! to expand its digital platform and support more schools in their fundraising efforts.
Runway Growth Finance Corp. (Nasdaq: RWAY) reported its Q3 2024 financial results on November 12, 2024. The company achieved total investment income of $36.7 million and net investment income of $15.9 million, or $0.41 per share. The net asset value (NAV) per share was $13.39, down from $14.08 a year earlier. The investment portfolio's fair value stood at $1.07 billion.
Key activities included seven new investments totaling $74.0 million, $75.0 million in principal prepayments, and the repurchase of 644,763 shares. The company declared a $0.40 per share dividend for Q4 2024.
Runway Growth's investment adviser announced a business combination with BC Partners, expected to enhance origination opportunities and financing solutions. Post quarter-end, the company received several loan repayments totaling $28.6 million and repurchased 528,305 shares.
The conference call to discuss these results is scheduled for November 12, 2024, at 5:00 p.m. ET.
Runway Growth Finance (Nasdaq: RWAY) has declared a fourth quarter 2024 regular cash dividend of $0.40 per share. The dividend will be paid on December 2, 2024, to shareholders of record as of November 18, 2024. The company maintains an 'opt out' dividend reinvestment plan, allowing stockholders to automatically reinvest cash dividends into additional common shares unless they choose to opt out. Distributions are subject to the company's earnings, financial condition, and maintenance of regulated investment company status.
Runway Growth Capital has announced a definitive agreement to be acquired by BC Partners Credit, the $8 billion credit arm of BC Partners. Following the transaction, expected to close in Q4 2024, Runway will continue operating independently as the investment adviser to Runway Growth Finance Corp (Nasdaq: RWAY) and other private funds, with current management remaining in place.
The combination aims to enhance origination capabilities, expand investment solutions, and accelerate capital formation. Runway will maintain its focus on $30-150 million investments while adding structured equity preferred investments, asset-based lending, and equipment leasing capabilities. The deal requires approval from Runway Growth Finance stockholders.
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