Runway Growth Finance established a joint venture with Cadma Capital Partners, a credit financing platform for the venture and growth ecosystem and an affiliate of Apollo Global Management.
“Cadma will serve as a disciplined and experienced partner that shares in our mission to deliver creative financing solutions to the highest quality late-stage and growth companies,” Greg Greifeld, acting CEO of Runway Growth Finance and deputy chief investment officer and head of credit at Runway Growth Capital, said. “Our combined market expertise, track record as strategic partners and leadership within the venture debt ecosystem positions us to achieve attractive economics while maintaining excellent credit quality. Through our partnership with Cadma, Runway will increase our presence in the growth lending markets as we seek to deliver returns for our shareholders.”
The newly formed joint venture, Runway-Cadma I, will be an equal partnership between Runway and Cadma. The joint venture, with financing capacity of up to $200 million, will focus on financing private and sponsor-backed late- and growth-stage companies.
“Runway and Cadma are forming a mutually beneficial partnership to expand high-quality asset origination for our firms,” Jon Beizer, CEO of Cadma, said. “We believe that our deep understanding of the venture ecosystem and Runway’s strong track record of serving dynamic growth companies will enable us to unlock substantial value. This is only the beginning, and we look forward to deepening this relationship in the years to come.”
