Runway Growth Finance Corp. Provides Fourth Quarter 2024 Portfolio Update
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 Finance Corp. (RWAY) ha completato sette investimenti per un totale di 154 milioni di dollari in prestiti finanziati durante il quarto trimestre del 2024, inclusi due nuove aziende nel portafoglio e cinque già esistenti. Gli investimenti principali hanno incluso 41 milioni di dollari per VertexOne, 40 milioni di dollari per Brivo, 43 milioni di dollari per Piano Software e 26,7 milioni di dollari per Hurricane CleanCo.
La società ha vissuto diversi eventi di liquidità, tra cui il rimborso completo del capitale da parte di VertexOne (91,7 milioni di dollari), Brivo (32,3 milioni di dollari), Predactiv (18,5 milioni di dollari) e Betterment Holdings (8 milioni di dollari). Al 31 dicembre 2024, il portafoglio comprendeva 47 investimenti in debito in 32 aziende e 88 investimenti in azioni in 53 aziende, con un focus sui settori della tecnologia, della sanità e dei servizi al consumatore.
Runway Growth Finance Corp. (RWAY) completó siete inversiones que totalizan 154 millones de dólares en préstamos financiados durante el cuarto trimestre de 2024, incluyendo dos nuevas empresas en la cartera y cinco existentes. Las inversiones principales incluyeron 41 millones de dólares para VertexOne, 40 millones de dólares para Brivo, 43 millones de dólares para Piano Software y 26,7 millones de dólares para Hurricane CleanCo.
La empresa experimentó varios eventos de liquidez, incluyendo reembolsos completos de capital de VertexOne (91,7 millones de dólares), Brivo (32,3 millones de dólares), Predactiv (18,5 millones de dólares) y Betterment Holdings (8 millones de dólares). Al 31 de diciembre de 2024, la cartera incluía 47 inversiones en deuda en 32 empresas y 88 inversiones en acciones en 53 empresas, centrándose en los sectores de tecnología, salud y servicios al consumidor.
Runway Growth Finance Corp. (RWAY)는 2024년 4분기 동안 새로운 포트폴리오 기업 2개와 기존 기업 5개를 포함하여 총 1억 5천4백만 달러의 대출자금으로 7건의 투자를 완료했습니다. 주요 투자에는 VertexOne에 4천1백만 달러, Brivo에 4천만 달러, Piano Software에 4천3백만 달러, Hurricane CleanCo에 2천6백70만 달러가 포함되었습니다.
회사는 VertexOne(9천1백70만 달러), Brivo(3천2백30만 달러), Predactiv(1천8백50만 달러), Betterment Holdings(8백만 달러)로부터의 전액 원금 상환을 포함하여 여러 유동성 사건을 경험했습니다. 2024년 12월 31일 현재, 포트폴리오에는 32개 기업에 걸쳐 47개의 부채 투자와 53개 기업에 대한 88개의 지분 투자가 포함되어 있으며, 기술, 의료 및 소비자 서비스 분야에 중점을 두고 있습니다.
Runway Growth Finance Corp. (RWAY) a réalisé sept investissements totalisant 154 millions de dollars en prêts financés au cours du quatrième trimestre 2024, incluant deux nouvelles entreprises dans le portefeuille et cinq existantes. Les investissements majeurs comprenaient 41 millions de dollars pour VertexOne, 40 millions de dollars pour Brivo, 43 millions de dollars pour Piano Software, et 26,7 millions de dollars pour Hurricane CleanCo.
L'entreprise a connu plusieurs événements de liquidité, y compris des remboursements de capital complets de VertexOne (91,7 millions de dollars), Brivo (32,3 millions de dollars), Predactiv (18,5 millions de dollars) et Betterment Holdings (8 millions de dollars). Au 31 décembre 2024, le portefeuille comprenait 47 investissements en dette dans 32 entreprises et 88 investissements en actions dans 53 entreprises, se concentrant sur les secteurs de la technologie, de la santé et des services aux consommateurs.
Runway Growth Finance Corp. (RWAY) hat im 4. Quartal 2024 insgesamt sieben Investitionen in Höhe von 154 Millionen Dollar in finanzierten Krediten abgeschlossen, darunter zwei neue Portfoliounternehmen und fünf bestehende. Zu den Hauptinvestitionen gehörten 41 Millionen Dollar in VertexOne, 40 Millionen Dollar in Brivo, 43 Millionen Dollar in Piano Software und 26,7 Millionen Dollar in Hurricane CleanCo.
Das Unternehmen erlebte mehrere Liquiditätsereignisse, darunter vollständige Rückzahlungen des Kapitals von VertexOne (91,7 Millionen Dollar), Brivo (32,3 Millionen Dollar), Predactiv (18,5 Millionen Dollar) und Betterment Holdings (8 Millionen Dollar). Zum 31. Dezember 2024 umfasste das Portfolio 47 Schuldeninvestments in 32 Unternehmen und 88 Eigenkapitalinvestments in 53 Unternehmen, mit Fokus auf die Sektoren Technologie, Gesundheitswesen und Verbraucherdienstleistungen.
- Completed $154 million in new funded loans across seven investments
- Received substantial loan repayments totaling over $150 million
- Maintained diversified portfolio with 47 debt investments and 88 equity investments
- Portfolio companies showing strong performance according to management
- None.
Insights
The Q4 2024 portfolio update reveals substantial lending activity with
The portfolio composition shows strategic diversification across 47 debt investments in 32 companies and 88 equity investments in 53 companies. The upcoming BC Partners business combination positions RWAY for enhanced deal flow and operational scale. The high repayment activity, coupled with new originations, indicates strong portfolio management and borrower health. The focus on late-stage companies in high-growth sectors (technology, healthcare and consumer services) aligns with lower-risk lending strategies in the venture debt space.
The portfolio update demonstrates robust credit quality management through strategic refinancing and new investments. The full repayment of several major loans, including
The diversification across 32 portfolio companies for debt investments helps mitigate concentration risk. The equity component in 53 companies provides additional upside potential while maintaining the primary focus on secured lending. The credit-first approach and regular portfolio monitoring reflect conservative risk management practices essential for maintaining portfolio quality in the venture debt space.
- Completed Seven Investments in New and Existing Portfolio Companies Representing
$154 Million in Funded Loans
MENLO PARK, Calif., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today provided an operational and portfolio update for the fourth quarter ended December 31, 2024.
“Runway Growth closed out 2024 with seven investments in new and existing portfolio companies in the high growth target sectors of technology, healthcare and consumer services,” said David Spreng, Founder and CEO of Runway Growth. “Our underlying borrowers generally continue to perform well, driving strength in our existing portfolio. Looking ahead, we are focused on expanding and diversifying our financing solutions. Runway Growth Capital LLC, the investment adviser to Runway Growth, is on track to close its proposed business combination with BC Partners in the first quarter of 2025, and we are positioned to leverage our combined scale and resources to accelerate originations. Our team is energized as we seek to capitalize on attractive investment opportunities that we believe will benefit our shareholders with enhanced growth drivers for long-term returns.”
Originations
In the fourth quarter of 2024, Runway Growth funded seven investments: two investments in new portfolio companies and five investments in existing portfolio companies. These include:
- Completion of a new
$41 million investment to existing portfolio company VTX Holdings, LLC dba VertexOne (“VertexOne”), funding the full$41 million at close, which refinanced VertexOne’s existing senior term loan; - Completion of a new
$40 million investment to existing portfolio company Brivo Systems, LLC (“Brivo”), funding the full$40 million at close, which refinanced Brivo’s existing senior term loan; - Completion of a new
$43.0 million investment to Piano Software, Inc. (“Piano”), funding the full$43.0 million at close. Piano is a global leader in digital experience management, customer journey orchestration, and advanced analytics; - Completion of a new
$26.7 million investment to Hurricane CleanCo Limited (“Hurricane CleanCo”), funding the full$26.7 million at close. Hurricane CleanCo operates an integrated merchant acquiring and payment processing platform focused on SMB and Enterprise merchants; and - Completion of follow-on investments with an aggregate amount of
$3.3 million to three existing portfolio companies.
Liquidity Events
During the fourth quarter ended December 31, 2024, Runway Growth experienced the following liquidity events:
- Full principal repayment of the Company’s senior secured term loan to VertexOne of
$91.7 million ; - Full principal repayment of the Company’s senior secured term loan to Brivo of
$32.3 million ; - Full principal repayment of the Company’s senior secured term loan to Predactiv, Inc. (fka Sharethis, Inc.) of
$18.5 million ; - Full principal repayment of the Company’s senior secured term loan to Betterment Holdings, Inc. of
$8.0 million ; - Partial principal repayment of the Company’s senior secured term loan to FiscalNote Holdings, Inc. of
$2.1 million ; - Other scheduled principal amortization of
$2.4 million ; and - During the fourth quarter, the Company liquidated its holdings in Dtex Systems, Inc. preferred stock for total proceeds of
$1.9 million .
Portfolio Construction and Management
Runway Growth is a credit-first organization, carefully structured to focus on what it believes to be the highest quality, late-stage companies in the venture debt market. The Company seeks to uphold industry-leading investment standards as well as disciplined underwriting and monitoring of its portfolio. Runway Growth is positioned as a preferred lender in the venture debt space, supporting and working closely with companies to help them reach their full growth potential. Since inception, the Company has focused on the fastest growing sectors of the economy, including healthcare, technology and select consumer services and products industries.
As of December 31, 2024, the Runway Growth portfolio included 47 debt investments to 32 portfolio companies and 88 equity investments in 53 portfolio companies, including 28 portfolio companies where Runway Growth holds both a debt and equity investment. Investments were comprised of late and growth-stage businesses in the technology, healthcare and consumer services and products industries. Runway Growth’s normal business operations include frequent communication with portfolio companies.
About Runway Growth Finance Corp.
Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage 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. 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.
Important Disclosures
Strategies described involve special risks that should be evaluated carefully before a decision is made to invest. Not all of the risks and other significant aspects of these strategies are discussed herein. Please see a more detailed discussion of these risk factors and other related risks in the Company’s most recent annual report on Form 10-K in the section entitled “Risk Factors”, which may be obtained on the Company’s website, www.runwaygrowth.com, or the SEC’s website, www.sec.gov.
IR Contacts:
Taylor Donahue, Prosek Partners, rway@prosek.com
Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com
FAQ
How much did Runway Growth Finance (RWAY) invest in Q4 2024?
What were the major loan repayments received by RWAY in Q4 2024?
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