Runway Growth Capital LLC Adds Venture Lending Industry Veteran to Technology Team
Runway Growth Capital has appointed Brad Pritchard as Managing Director, Technology, leveraging over 20 years of experience in venture lending. Operating from Silicon Valley, he will focus on technology investments and sustainability initiatives. Pritchard previously held leadership roles at BlackRock and Hercules Capital, enhancing Runway's capabilities to support firms with flexible financing solutions. CEO David Spreng emphasized Pritchard's ability to strengthen relationships with top venture capital firms and late-stage technology companies.
- Brad Pritchard's extensive experience enhances Runway's investment capabilities.
- Focus on sustainability aligns with market demands and growth potential.
- Pritchard's network may increase deal flow and enhance investor relations.
- None.
- Brad Pritchard Joins Runway as Managing Director, Technology, Bringing More Than 20 Years of Experience -
WOODSIDE, Calif., Aug. 2, 2022 /PRNewswire/ -- Runway Growth Capital LLC ("Runway" or the "Company"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today that it has hired Brad Pritchard as Managing Director, Technology.
Operating out of the Silicon Valley office and reporting directly to Founder, Chief Executive Officer, and Chief Investment Officer, David Spreng, Pritchard will primarily make investments in the broader technology industry, including in companies focused on sustainability. Additionally, he will target top venture capital firms and the management teams of leading late-stage technology companies.
"Brad will be responsible for identifying technology companies who can benefit from venture debt, whether to help them grow and scale their businesses or to avoid a down round amidst unfavorable market conditions," said Spreng. "Brad is an expert in building rapport with management teams and helping them optimize their capital structure. His network and industry knowledge will bolster new and existing relationships, help keep Runway top-of-mind with companies seeking the flexible financing that venture debt offers, and significantly deepen our bench strength in technology origination. We are thrilled to welcome Brad to Runway."
Before Runway, Pritchard was a Managing Director at BlackRock for more than eight years and led the venture lending efforts globally. As part of BlackRock's U.S. Private Capital ("USPC") group, he originated, executed, and managed new investment opportunities in technology and technology-related companies. He also served on both the Investment Committee and the Valuation Committee for USPC, and was President and Chief Operating Officer of BlackRock Direct Lending Corp, a private business development company ("BDC").
"Runway has great people, an incredible reputation and is a leading investment platform in venture and growth lending," explained Pritchard. "It is exciting to join Runway, a firm that is clearly passionate about lending to exceptional companies with outstanding management teams. I view this as a fantastic opportunity to work with David and the rest of the talented Runway team to provide customized financing solutions that address a company's liquidity needs while minimizing dilution."
Pritchard has more than 20 years of experience helping companies raise debt and equity as an investor and investment banker. Before joining BlackRock, he was a Managing Director at Hercules Capital, a venture lending BDC. Prior to Hercules, he worked at several leading financial services companies, including Wells Fargo Securities, Banc of America Securities, SG Cowen and GE Capital. Pritchard earned an M.B.A. from The Wharton School of the University of Pennsylvania and a B.A. from the University of California, Berkeley.
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (NASDAQ: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of
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 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.
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SOURCE Runway Growth Capital LLC
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