– Ted Cavan joins Runway as Managing Director, Technology; Adds a decade of experience funding high-growth technology companies –
WOODSIDE, California., August 16, 2022 /PRNewswire/ — Runway Growth Capital LLC (“Runway” or the “Company”), a leading provider of growth loans to affiliated and unaffiliated companies seeking an alternative to raising equity, today announced that it has terminated Ted Cavan as Managing Director Technology.
Cavan will be operating out of there Boston and reports directly to the Founder, Chief Executive Officer and Chief Investment Officer, David Spreng. As a member of Runway’s origination team, Cavan will work with a broad range of late-stage and growth-stage technology companies with a focus on enterprise software. He brings a decade of experience to Runway helping companies advance their goals with venture and growth financing.
“Ted is well connected in the tech and venture communities, particularly in the Northeast. His background working with banks and specialist lenders will be invaluable as he looks to leverage his network to initiate new business with late stage and growth stage companies,” said Spreng. “Ted has proven exceptional at Runway, working with management teams at later stage companies to strategically allocate capital.”
“I am very impressed with the Runway team and the platform; the team is very considerate, cooperative, disciplined and highly professional. I’m excited to join such a great group and help build their already world-class platform,” Cavan said. “With such a robust ecosystem of universities, research institutions and venture capital, the Northeast is an incredible market for the type of strategic capital that Runway provides. Non-bank lenders can be an attractive alternative to traditional sources of capital – offering borrowers flexible terms and larger loan amounts without the governance constraints associated with equity financing or the strict lending standards of a bank. Runway has the team, experience and approach to help late-stage and growth-stage companies achieve their most important goals.”
Cavan most recently held the position of senior vice president at Stifel, where he led that Boston Area Technology Practice of its Venture Banking and Lending Group. In his role, Cavan was responsible for finding promising investment opportunities, building relationships with management teams, drafting terms of business and actively managing a portfolio of senior debt securities owned by up to $1M – 50 million dollars. He previously worked for TriplePoint Capital as a vice president, where he became a director and was part of a team of two responsible for launching TriplePoint’s East Coast effort in 2015. Prior to that, he was Vice President at Square 1 Bank, responsible for origination, due diligence, transaction execution and portfolio management of more than 150 million dollars of loans range from $250,000 – 20 million dollars.
Cavan completed his bachelor’s degree at Skidmore Collegebefore receiving his Masters of Business Administration from the University of Virginia Darden Graduate School of Business Administration.
About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment adviser to mutual funds including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds providing growth capital to companies seeking an alternative to raising equity. Led by an industry veteran David SprengThese funds offer senior term loans from 10 million dollars to $75 million to fast-growing companies based in The United States and Canada. For more information about Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
The statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact contained 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 could differ materially from those projected in the forward-looking statements due to a number of factors, including those described in Runway Growth’s filings with the Securities and Exchange Commission from time to time. Runway Growth undertakes no obligation to update any forward-looking statements contained herein. All forward-looking statements speak only as of the date of this press release.
SOURCE Runway Growth Capital LLC