October 6, 2021
WOODSIDE, Calif., October 6, 2021 – Runway Growth Capital LLC (“Runway” or the “Company”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today that it has hired Igor DaCruz as Managing Director to continue to expand the company’s Life Sciences Origination team.
DaCruz will operate out of the growing San Diego office and report to the Managing Director and Head of Life Sciences, Rob Lake. In his post, he will facilitate new investments in life sciences and healthcare businesses nationwide. Having served multiple roles at Silicon Valley Bank for the past ten years, DaCruz brings commercial lending experience to foster borrower partnerships and better Runway’s ability to support companies bringing life-enhancing treatments to market.
“Augmenting our Life Sciences team with Igor’s extensive network and experience advances Runway’s mission of supporting passionate entrepreneurs to maximize market opportunities and build great businesses without diluting equity. His keen understanding of an entrepreneur’s mindset and the business cycles they face, along with a strong acumen for lending, enables Runway to support companies in non-linear sectors like life sciences,” said Lake. “Igor is passionate about the life sciences sector and being able to provide growth capital to cutting-edge companies who are developing breakthrough therapies, improving patient outcomes and saving lives.”
“Runway’s entrepreneurial spirit and leadership in life sciences lending, under the guidance of Rob Lake, was a compelling draw; it’s very hard to find this mix in the growth-stage life sciences space, especially scaling this quickly,” explained DaCruz. “Runway provides borrowers with a less dilutive way to capitalize growth-stage businesses with venture debt.”
DaCruz earned his experience in the banking sector, with a focus on the life sciences industry for over a decade. Most recently, DaCruz worked as the Director of Life Sciences for the Southwest Region of Silicon Valley Bank in San Diego. Before that, he helped manage global lending initiates at SPD Silicon Valley Bank in Shanghai focusing on Life Sciences companies in Asia and was part of the Asset Based Lending group for SVB in Boston. During this time, DaCruz has shown an aptitude and passion for helping entrepreneurs having participated in funding over $400 million in venture debt deals. DaCruz graduated summa cum laude from the University of Massachusetts Boston with a bachelor’s degree in Management, concentrating on Finance and minoring in Economics.
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp., which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $70 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Jay Kolbe, Co-Founder and Senior Managing Partner, Impact Partners jay@Impactpartnerspr.com
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