Runway Growth Finance funded eight investments in Q4

Runway Growth Finance provided an operational and portfolio update for the fourth quarter ended December 31, 2023. “Runway Growth generated strong momentum during the fourth quarter, capitalizing on investment opportunities as green shoots emerged in the origination environment,” said Greg Greifeld, Acting Chief Executive Officer of Runway Growth, and Deputy Chief Investment Officer and Head of Credit of Runway Growth Capital LLC. “Our team’s prudent underwriting practices and commitment to active communication with existing portfolio companies position our platform well for the dynamic rate environment that is forecasted for the year ahead. Looking at 2024, we see growing opportunity as we expect deal flow to increase particularly in the second half of the year. Runway Growth’s creative financing solutions and strategic growth capital will fill a void for borrowers seeking non-dilutive alternatives to a challenging fundraising environment.” Originations: In the fourth quarter of 2023, Runway Growth funded eight investments: three investments in new portfolio companies and five investments in existing portfolio companies. These include: Completion of a $40.0 million investment to Blueshift Labs, funding $25.5 million at close. Blueshift helps brands automate and personalize engagement across every marketing channel; Completion of a $37.5 million investment to Linxup, funding $30.0 million at close. Linxup is a U.S.-based GPS tracking, telematics and fleet management provider serving small and mid-size businesses; Completion of a new $13.0 million investment to Betterment Holdings, funding $8.0 million at close. Betterment is the largest independent digital investment advisor, offering investing and retirement solutions alongside their everyday services for spending and saving; Completion of a new $65.0 million investment to existing portfolio company Synack, funding $40.0 million at close, which refinanced and upsized the $60.0 million senior secured term loan previously provided by the Company. Synack is a developer of a crowdsourced security testing platform designed to deliver smart penetration testing to security teams; Completion of a new $30.0 million investment to existing portfolio company, Bombora, funding $28.0 million at close, which refinanced and upsized Bombora’s previous $20.0 million senior secured term loan. Bombora is a marketing technology and data company that aggregates and provides purchase intent data to B2B marketers; Completion of $18.6 million follow-on investments through two additional advances to existing portfolio company Route 92 Medical. Route 92 is a medical device company that develops neuro-interventional devices with a focus on treating acute ischemic stroke and hemorrhagic stroke; Funded $1.4 million of a $2.8 million secured convertible note to Snagajob.com. Snagajob is the largest platform/marketplace for hourly work with 100 million registered hourly workers and 500,000 employer locations in the United States and Canada; and Completion of $3.1 million equity funding to Gynesonics as part of an offering by the company of Series A-1 Preferred Stock. Gynesonics is a women’s healthcare company focused on the development of minimally invasive solutions for symptomatic uterine fibroids. During the fourth quarter ended December 31, 2023, Runway Growth experienced two prepayments totaling $61.7 million and scheduled principal amortization of $0.3 million. The prepayments include: Full principal repayment of senior secured term loan to Vero Biotech, LLC of $40.0 million; and Partial principal repayment of senior secured term loan to Brivo, Inc. of $21.7 million. Net originations for the fourth quarter ended December 31, 2023, totaled $36.0 million.