Runway Growth Capital has appointed Michael Rovner as Co-Chief Executive Officer and Co-Chief Investment Officer, adding a veteran growth lending and private credit investor to its leadership team.
Rovner will share both roles with Runway founder David Spreng. Together, they will guide the firm’s investment strategy and continued expansion.
Runway provides growth loans to venture-backed and non-venture-backed companies seeking an alternative to raising equity. The firm serves as investment adviser to publicly traded Runway Growth Finance Corp. and several private investment funds.
Rovner joins Runway from BC Partners, where he served as a Managing Director following the firm’s 2023 acquisition of Ovation Partners.
He co-founded Ovation Partners in 2012 and served as CEO and head of its Investment Committee, building the company into a provider of asset-backed lending and growth capital solutions for established businesses.
The appointment also strengthens the relationship between Runway and BC Partners Credit, which acquired Runway in January 2025.
Rovner brings more than 30 years of experience spanning private credit, growth debt, private equity and investments in early-stage and growth-stage technology companies.
In addition to Ovation Partners, Rovner co-founded Vida Capital in 2009 and served on its board. Vida operated as a vertically integrated manager focused on insurance-related and longevity-contingent assets.
Earlier in his career, Rovner was a Partner at Austin Ventures and led the firm’s financial services practice. Austin Ventures invested across financial services, technology, digital media and technology-enabled services.
Rovner also has operating experience with early-stage technology companies. His previous roles included Empart Technology, which was acquired by ARI Networks; Stanford Technology Group, which was acquired by Informix Software; and Mission Critical Software, which completed a Nasdaq IPO before being acquired by NetIQ Corporation.
At Runway, Rovner will work alongside Spreng as the company expands its lending platform and develops financing solutions for growth-stage companies while maintaining its credit-focused underwriting approach.
Runway’s affiliated funds provide senior term loans generally targeting $10 million to $150 million for fast-growing companies primarily based in the United States and Canada.
KEY QUOTES:
“Mike is one of the most accomplished investors in growth lending, and he shares the credit-first discipline that has defined Runway since our founding.”
“He has spent three decades building and leading successful lending platforms, and he knows how to deliver creative capital solutions without compromising underwriting standards. I am confident that our partnership will make Runway an even stronger firm for our borrowers and our shareholders.”
David Spreng, Founder, Co-Chief Executive Officer and Co-Chief Investment Officer of Runway Growth Capital
“Runway has built one of the premier platforms in growth lending, and the quality of its team and portfolio reflects the discipline David has instilled from day one.”
“I have spent my career providing capital to growing companies, and I am honored to partner with David and the entire Runway team as we expand what this platform can do for our borrowers and investors.”
Michael Rovner, Co-Chief Executive Officer and Co-Chief Investment Officer of Runway Growth Capital
