KeyBank Specialty Finance Lending acted as administrative agent, syndication agent and lender on the expansion of a revolving credit facility to $215 million for Runway Growth Fund. MUFG Union Bank and CIBC Bank USA acted as co-documentation agents and lenders, and Bank of Hope and First Foundation Bank acted as lenders to the revolving credit facility in support of the fund’s growth. 

Runway Growth Credit Fund is a provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity.

“We are pleased to have been able to expand our total availability under the revolving credit facility to $215M. The funds will be used to support growth in Runway Growth’s loan portfolio and to continue fueling our philosophy of relationship-driven investing that helps dynamic companies achieve their potential,” Tom Raterman, CFO at Runway Growth, said. “With nearly $220M in available liquidity consisting of cash, undrawn credit facilities and undrawn equity capital commitments, we are well-positioned to fund strong portfolio growth in 2021.”

“Runway Growth continues to be an effective provider of debt capital to fast-growing companies and it has been a strong addition to our industry-leading growth capital lending portfolio. We are pleased to expand our commitment to the fund and look forward to working with the management team to support their growth lending platform,” Rian Emmett, group head of KeyBank Specialty Finance Lending, said.