Runway's inaugural appearance on the list
demonstrates the firm's commitment to driving supportive
partnerships for companies seeking alternatives to highly dilutive
equity.
MENLO
PARK, Calif., Nov. 1, 2023
/PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a
leading provider of growth loans to both venture and
non-venture-backed companies seeking an alternative to raising
equity, announced today that Inc. Magazine named Runway in its
prestigious Founder-Friendly Investors list. The list honors
leaders in finance – including debt providers such as Runway – who
have maintained a stellar track record of success and consistent
support for entrepreneurs.
The final list recognizes 218 firms that remain actively
involved with the businesses they invest in, and that have earned
the trust of the entrepreneurs they support to help drive
growth.
"Now more than ever, founder-led companies need financing
partners that offer guidance, expertise, and understanding—not just
capital," said Scott Omelianuk,
editor-in-chief of Inc. Business Media. "These are the private
equity, venture capital, and debt firms that have founders' backs
when it comes to accelerating growth."
"We are honored that Inc. recognized Runway for our dedication
to our borrowers in good times and bad, providing the capital,
knowledge, and network they need for success," said Greg Greifeld, Acting CEO of Runway Growth
Capital LLC. "As a provider of venture debt, the primary value
proposition of our capital solution is to allow entrepreneurs to
own more of their companies, and by doing more work upfront to
develop a thorough understanding of our clients' businesses, we are
well prepared to help with any current or future challenges."
Runway has shown prowess in working closely with the founders of
its portfolio companies to help them grow while meeting the goals
of its strategic investments. Runway invests in varied companies,
focusing on technology, life sciences, and select consumer services
and products. Since its inception in 2015, the firm has partnered
with 72 companies to provide minimally dilutive growth capital that
enables founders and early investors to retain more ownership in
their business, amounting to over $2.4
billion in total loan commitments.
In December of 2022, Runway reengaged with the management team
of SetPoint Medical, a clinical-stage healthcare company dedicated
to patients with chronic autoimmune diseases, with an expanded
$65M credit facility. SetPoint
Medical had an existing credit facility with Runway, and this
expansion further reinforced Runway's dedication to maintaining
tight-knit relationships based on trust, transparency, and
communication with their portfolio companies.
Also in December of 2022, Runway closed on a senior secured term
loan of $50M to Madison Reed, a digitally enabled omnichannel
prestige hair color company predominantly focused on women.
Runway's non-dilutive growth loan provided Madison Reed with needed late-stage growth
capital. With this flexible working capital, Madison Reed grew customer acquisition,
broadened retail channels, and expanded its more than eighty hair
color bars nationally.
Most recently, the firm provided a $40M senior secured term loan to Elevate
Services, Inc. ("Elevate"), a global law company providing software
and services to law departments of over ten percent of the Global
1000 and more than half of the Global 100 law firms. Thanks to
Runway's supportive partnership and non-dilutive capital, Elevate
was able to refinance existing debt and provide additional working
capital for its expert-led, software-powered solutions.
Introduced in 2019, the Founder-Friendly Investors list
quickly established itself as one of Inc.'s most resourceful
franchises. It has become a go-to guide for entrepreneurs who want
to grow their companies while retaining an ownership stake.
The November 2023 issue of Inc. magazine is
available online now at https://www.inc.com/magazine and will
be on newsstands beginning October
31.
Legal Disclosure
The award for Runway's advisory services has been given by a
non-advisory client. A cash compensation entry fee was given
in association with the award. Any compensation may create a
conflict of interest. For more information on Inc.'s award
selection process click here.
About Inc.
The world's most trusted business-media
brand, Inc. offers entrepreneurs the knowledge, tools, connections,
and community they need to build great companies. Its award-winning
multiplatform content reaches more than 50 million people each
month across a variety of channels including websites, newsletters,
social media, podcasts, and print. Its prestigious Inc. 5000 list,
produced every year since 1982, analyzes company data to recognize
the fastest-growing privately held businesses in the United States. The global recognition that
comes with inclusion in the 5000 gives the founders of the best
businesses an opportunity to engage with an exclusive community of
their peers, and the credibility that helps them drive sales and
recruit talent. The associated Inc. 5000 Conference is part of a
highly acclaimed portfolio of bespoke events produced by Inc. For
more information, visit www.inc.com.
About Runway Growth Capital LLC
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 $10
million to $100 million to
fast-growing companies based in the
United States and Canada.
For more information on Runway Growth Capital LLC and its platform,
please visit our website at 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.
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SOURCE Runway Growth Capital LLC