CPE News (2.16.2022) – Dejero Labs Inc., a portfolio company of Vertu Capital, has closed a US $13 million term loan financing with Runway Growth Capital LLC.
The financing closed in Q4 2021.
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (NASDAQ: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by David Spreng, these funds provide senior term loans of US $10 million to US $75 million to fast-growing companies based in the United States and Canada
The loan welcomes Dejero back to the Runway portfolio. In May 2019, Runway provided US $11 million term loan to Dejero.
Founded by Bogdan Frusina in 2008 and led by CEO Bruce Anderson, Waterloo, Ontario based Dejero aggregates diverse connectivity paths including LTE and 5G cellular, satellite and broadband into a virtual ‘network of networks’ to deliver enhanced reliability, expanded coverage, and greater bandwidth using cloud-based technology.
Dejero Labs is managed by Ubicom Ventures Ltd. is a special purpose investment vehicle established in 2020 with the sole purpose of participating in $60 million recapitalization of Dejero led by Vertu Capital.
photo credit: Dejero Labs
News Release
Runway Growth Capital Announces a Term Loan of $13 Million to Dejero
WOODSIDE, Calif., Feb. 16, 2022 /PRNewswire/ — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a term loan commitment of $13 million to Dejero, a telecommunications aggregator of diverse connectivity paths including LTE and 5G cellular, satellite and broadband to deliver enhanced reliability, expanded coverage, and greater bandwidth using cloud-based technology.
The loan welcomes Dejero back to the Runway portfolio and continues the firm’s commitment to their growth.
“We are pleased to reaffirm our commitment to Dejero, who is a proven and strategic portfolio company for Runway,” said Mark Donnelly, Managing Director, Head of Origination at Runway. “We take great pride in being a flexible, steady partner for all our borrowers. It’s affirming when a strong portfolio company decides to return to Runway for a growth loan. We believe in Dejero’s business and we are excited to continue our support and aid in their maturation and ongoing success.”
“Runway is an enduring partner who intimately understands our business, which has enabled them to mindfully tailor our loan,” said Bobbi Holte, CFO of Dejero. “Coming back to Runway was an easy decision. The growth loan infuses incremental capital that will help us continue to grow, diversify our suite of products and services, and make them more readily available to companies who can benefit from network aggregation.”
“We share Dejero’s vision for the networking market and believe they have the potential to be a critical player in the future of 5G and cloud connectivity,” explained Donnelly. “Runway takes pride in being able to continue our support for proven, trusted companies like Dejero.”
About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, 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 $75 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.
Forward-Looking Statements
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.
About Dejero
Driven by its vision of reliable connectivity anywhere, Dejero aggregates diverse connectivity paths including LTE and 5G cellular, satellite and broadband into a virtual ‘network of networks’ to deliver enhanced reliability, expanded coverage, and greater bandwidth using cloud-based technology. A two-time technical Emmy® Award winner, Dejero is trusted to solve the mission-critical live video transport and real-time data transfer challenges of organizations around the world. Founded in 2008, privately-held Dejero is headquartered in Waterloo, Ontario, Canada. For more information, visit www.dejero.com.
SOURCE Runway Growth Capital LLC