{"id":413414,"date":"2021-01-12T14:03:13","date_gmt":"2021-01-12T19:03:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413414"},"modified":"2021-01-12T14:03:13","modified_gmt":"2021-01-12T19:03:13","slug":"runway-growth-credit-fund-provides-fourth-quarter-2020-portfolio-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/runway-growth-credit-fund-provides-fourth-quarter-2020-portfolio-update\/","title":{"rendered":"Runway Growth Credit Fund Provides Fourth Quarter 2020 Portfolio Update"},"content":{"rendered":"
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– $132.4 Million in Funded Loans<\/h2>\n

– Total Loan and Investment Originations Since Inception Grows To $857.4 Million and $769.5 Million in Funded Investments<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n WOODSIDE, Calif.<\/span>, Jan. 12, 2021<\/span> \/PRNewswire\/ — Runway Growth Credit Fund Inc. (the “Fund” or “Runway Growth”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, provided an operational and portfolio update for the fourth quarter ended December 31, 2020<\/span>.<\/p>\n

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\n \"(PRNewsfoto\/Runway
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“Investment activity was strong during the fourth quarter and we believe that our pipeline entering 2021 is quite attractive. We completed $132.4 million<\/span> in loans and other investments to new and existing portfolio companies during the fourth quarter. We are seeing strong interest in our life sciences vertical and demand for growth loans in the technology sector is increasing and approaching pre-COVID-19 levels,” said Runway Growth CEO, David Spreng<\/span>.\u00a0“In a year challenged by economic uncertainty, market volatility, and financial hardship, we are pleased to support the growth of new and existing portfolio companies. In doing so, we diversified and expanded our portfolio to $510 million<\/span> in loan principal outstanding to 23 companies across multiple technology and life sciences sectors in North America<\/span> and the United Kingdom<\/span>.”\u00a0<\/p>\n

\n COVID-19’s Current Impact<\/b>\n <\/p>\n

Since the onset of the COVID-19 pandemic, our primary priorities have been 1) the health and well-being of our team, while maintaining our current business operations, and 2) protecting our investors’ capital by supporting the efforts of our portfolio companies to adjust to the uncertain and rapidly changing environment. Our business continuity\/work from home plan continues and our team, in four locales, is working together seamlessly on a socially-distanced basis. We expect that our work from home protocols will remain in place through the first half of 2021 and, for some of our team, potentially longer.\u00a0 We continue to work closely with our portfolio companies to identify and assess their current business circumstances and the impact of the COVID-19 pandemic on their teams, business, liquidity, and capital structures, and our portfolio companies have responded well.\u00a0 We are pleased with the adaptability and resilience demonstrated by our team, our business partners, and our portfolio companies.\u00a0With more than nine months of remote operations behind us, we believe we have proven we can successfully originate, underwrite, and monitor investments without business travel and with the effective use of technology to maintain strong communications and build relationships.<\/p>\n