– The addition of DaCruz brings strong commercial lending experience to Runway’s life sciences creative team –
WOODSIDE, California, October 6, 2021 / PRNewswire / – Runway Growth Capital LLC (“Runway” or the “Company”), a leading provider of growth loans to venture capital and unfunded companies looking for an alternative to raising fund, today announced that it has hired Igor DaCruz as general manager to continue to expand the original company life science team.
DaCruz will operate from growth San Diego office and report to the Managing Director and Head of Life Sciences, Rob Lake. In this role, he will facilitate new investments in life science and health companies nationwide. Having held several positions at Silicon Valley Bank over the past ten years, DaCruz brings his commercial lending background to foster partnerships with borrowers and Runway’s enhanced ability to support companies bringing to market treatments that improve performance. life.
“Increasing our Life Sciences team with Igor’s vast network and experience further advances Runway’s mission of helping passionate entrepreneurs maximize market opportunities and build great businesses without diluting equity capital. . His in-depth understanding of an entrepreneur’s mindset and the business cycles to which lending enables Runway to support businesses in non-linear industries such as life sciences, ”said Lake. “Igor is passionate about the life sciences industry and is able to provide growth capital to leading companies that develop breakthrough therapies, improve patient outcomes and save lives. “
“Runway’s entrepreneurial spirit and leadership in life science loans, under the leadership of Rob Lake, has been a compelling draw; it’s very difficult to find this mix in the growing life sciences space, especially for such rapid scale-up, ”explained DaCruz. “Runway offers borrowers a less dilutive way to capitalize growing companies with venture capital debt. “
DaCruz has gained experience in the banking industry, focusing on the life science industry for over a decade. Most recently, DaCruz worked as the Director of Life Sciences for the Southwest region of Silicon Valley Bank at San Diego. Prior to that, he helped manage global lending initiatives at SPD Silicon Valley Bank in Shanghai focusing on life science 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 a passion to help the entrepreneurs who have participated in the financing on $ 400 million in risky debt transactions. DaCruz graduated summa cum laude from the University of Massachusetts at Boston with a bachelor’s degree in management, with a concentration in finance and a minor in economics.
About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp., which lend growth capital to companies seeking an alternative to fundraising. Led by an industry veteran David Spreng, these funds offer long-term loans of $ 10 million To $ 70 million to fast growing companies based in United States and Canada. For more information about Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
Statements included in this document may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not statements. guarantees future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from forward-looking statements due to a number of factors, including those described from time to time in documents filed by Runway Growth with the Securities and Exchange Commission. Runway Growth does not undertake to update any forward-looking statements contained in this document. All forward-looking statements speak only as of the date of this press release.
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SOURCE Runway Growth Capital LLC