Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, appointed Michael Rovner as co-CEO and co-chief investment officer. Rovner shares both titles with founder David Spreng, and together they will guide Runway’s investment strategy and its continued expansion. Runway serves as the investment adviser to Runway Growth Finance and to private investment funds.
Rovner joins Runway from BC Partners, where he served as a managing director following the firm’s 2023 acquisition of Ovation Partners, the asset-backed lending and growth capital business he co-founded and led as CEO. His appointment adds proven leadership as Runway scales its platform and broadens the financing solutions it offers growth-stage companies, and it deepens the alignment between Runway and BC Partners Credit, which acquired the firm in January 2025.
“Mike is one of the most accomplished investors in growth lending, and he shares the credit-first discipline that has defined Runway since our founding,” Spreng said. “He has spent three decades building and leading successful lending platforms, and he knows how to deliver creative capital solutions without compromising underwriting standards. I am confident that our partnership will make Runway an even stronger firm for our borrowers and our shareholders.”
Rovner brings more than 30 years of experience spanning early and growth stage technology companies, private equity, private credit and growth-debt lending. Before joining BC Partners, he co-founded Ovation Partners in 2012 and served as its CEO and head of its investment committee, building the firm into a provider of asset-backed lending solutions and growth capital for established companies. During that period, he also served as a board member of Vida Capital, which he co-founded in 2009 as a vertically integrated manager of insurance-related and longevity contingent assets.
Earlier in his career, Rovner was a partner and head of the financial services practice at Austin Ventures, a firm that focused on early-stage and growth equity investments in the financial services, technology, digital media and technology-enabled services markets. He began his career in early-stage technology businesses, including Empart Technology, acquired by ARI Networks; Stanford Technology Group, acquired by Informix Software; and Mission Critical Software, which completed a NASDAQ IPO and was subsequently acquired by NetIQ Corporation.
“Runway has built one of the premier platforms in growth lending, and the quality of its team and portfolio reflects the discipline David has instilled from day one,” Rovner said. “I have spent my career providing capital to growing companies, and I am honored to partner with David and the entire Runway team as we expand what this platform can do for our borrowers and investors.”
