Runway Growth Finance Corp. Provides Second Quarter 2024 Portfolio Update

Core Insights - Runway Growth has successfully expanded its portfolio in Q2 2024 while maintaining a disciplined approach to underwriting and credit quality, indicating confidence in the demand for non-dilutive capital among high-quality companies [1][6] - The company completed two significant investments totaling $75.5 million, including a $58.4 million investment in a marketing technology enterprise SaaS platform and a $56.1 million senior secured term loan to Onward Medical N.V. [1][10] - As of June 30, 2024, Runway Growth's portfolio consisted of 47 debt investments across 31 companies and 83 equity investments in 52 companies, showcasing a diverse investment strategy focused on late and growth-stage businesses in technology, life sciences, and consumer services [3][7] Investment Activity - In Q2 2024, Runway Growth funded two new portfolio companies, reflecting its strategy to support high-quality late-stage companies in the venture debt market [7] - The company experienced a prepayment of $25.3 million on a senior secured term loan to Turning Tech Intermediate, Inc., along with scheduled principal amortization of $1.3 million [2][7] Portfolio Management - Runway Growth emphasizes a credit-first approach, maintaining high investment standards despite prolonged high interest rates, which positions it as a preferred lender in the venture debt space [7] - The company has a low leverage ratio and sufficient capital reserves, allowing it to deploy funds effectively across its core sectors [7][8]