Runway Growth Finance completes 12 investments in Q4

Runway Growth Finance (RWAY) provided an operational and portfolio update for the fourth quarter ended December 31, 2022. "Runway Growth capitalized on its strong momentum in the venture lending space, completing twelve investments in new and existing portfolio companies, and delivering record fourth quarter and full year originations," said David Spreng, Founder and CEO of Runway Growth. "Our team’s disciplined execution in constructing a high-quality portfolio with industry-leading credit quality has Runway Growth well positioned for the year ahead regardless of market conditions. We continue to focus on deploying leverage to enhance long-term shareholder value, embracing companies that seek venture debt to generate growth. Despite a challenging macroeconomic backdrop, our team remains confident in its weather-proof platform and committed to delivering flexible financing solutions to high-quality, innovative companies." Runway Growth’s net originations totaled $222.6 million in the fourth quarter. In the fourth quarter of 2022, Runway Growth funded 12 investments: six investments in new portfolio companies, and six new investments in existing portfolio companies. During the fourth quarter ended December 31, 2022, Runway Growth experienced one liquidity event totaling $10 million. In conjunction with its refinancing and upsize, an existing portfolio company prepaid its outstanding principal balance of $10 million. Subsequent to December 31, 2022, Runway Growth experienced an additional liquidity event totaling $10 million. In conjunction with a loan amendment to TRACON Pharmaceuticals, Inc. ("TCON) finalized on December 22, 2022, Tracon repaid its senior secured term loan of $10 million on January 3, 2023.