Runway Growth Capital Names Carmela Thomson CFO, Tom Raterman to Vice Chairman

Rhea-AI Summary

Runway Growth Capital (Nasdaq: RWAY) completed a planned executive leadership transition supporting its long-term growth strategy. Effective June 30, 2026, Carmela Thomson, previously Senior Vice President, Finance and Accounting, became Chief Financial Officer, succeeding Thomas B. Raterman, who moved into the new role of Vice Chairman.

Thomson, a CPA who joined Runway in 2021 from KPMG, helped build the accounting and reporting framework for Runway Growth Finance Corp.’s public-company transition and has contributed to financial reporting, capital-raising, and portfolio operations. As Vice Chairman, Raterman will focus on platform-wide strategic initiatives, including portfolio optimization, M&A, capital markets transactions, and capital formation, while continuing to support Runway Growth Finance Corp. on its investment committee and special-situation assets.

Positive

• CFO transition effective June 30, 2026 with internal appointee Carmela Thomson
• New Vice Chairman role created for former CFO/COO Thomas Raterman focused on strategic initiatives
• Ongoing involvement of Raterman on Runway Growth Finance Corp. investment committee and special-situation assets
• Leadership experienced in public transition, including Thomson’s role in Runway Growth Finance Corp.’s IPO-related reporting build-out
• Recent strategic transactions completed, including Runway Growth Capital’s acquisition by BC Partners Credit and Mount Logan Capital

Negative

• None.

News Market Reaction – RWAY

+8.88% 1.8x vol

17 alerts

+8.88% Session close to close

+6.3% Peak in 6 hr 31 min

$226.34M Market Cap

1.8x Rel. Volume

In the Jul 14 session, RWAY gained 8.88%, reflecting a notable positive market reaction. Argus tracked a peak move of +6.3% during that session. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.9% in the session following this news. A strong upside reaction would contrast wi...

Analysis

The stock moved +8.9% in the session following this news. A strong upside reaction would contrast with RWAY’s history of post-news softness, such as the -4.25% move after Q1 2026 earnings, suggesting investors newly reward the leadership transition while still facing risk from moderate short positioning and prior volatility.

Key Figures

CFO transition effective date: June 30, 2026 Thomson tenure start: June 2021 Raterman tenure start: 2015 +1 more

4 metrics

CFO transition effective date June 30, 2026 Date Carmela Thomson succeeded Thomas B. Raterman as Chief Financial Officer

Thomson tenure start June 2021 Month and year Thomson joined Runway from KPMG LLP

Raterman tenure start 2015 Year Raterman joined Runway shortly after the firm’s founding

Platform history reference past decade Period over which Raterman highlights Runway’s development

Historical Context

5 past events · Latest: Jul 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 08	Earnings call scheduling	Neutral	-0.6%	Announced Q2 2026 results release date and related investor conference call details.
May 28	Debt offering	Negative	-0.9%	Priced $50M 7.00% notes due 2029 to repay credit facility debt and for general use.
May 26	Industry review report	Positive	-0.5%	Released Venture Debt Review showing U.S. venture debt reached a record $68.8B in 2025.
May 07	Q1 2026 earnings	Positive	-4.3%	Reported Q1 2026 results, declared $0.33 dividend, and authorized $15M share repurchase program.
May 06	Leadership promotions	Positive	+0.3%	Promoted new Chief Credit Officer and added a Managing Director to expand sector focus.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news for RWAY has often been followed by modest share price declines, including on seemingly constructive financing and earnings updates.

Key Terms

initial public offering, business development company, capital markets, mergers and acquisitions, +1 more

5 terms

initial public offering financial

"Runway Growth Finance Corp.'s transition to a public company later that year."

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

business development company financial

"Runway Growth Finance Corp. (Nasdaq: RWAY), Runway's publicly traded business development company (BDC)"

A business development company is a publicly traded investment vehicle that lends to and buys stakes in smaller or privately held companies, acting like a combination of a lender, investor, and business partner. It matters to investors because BDCs offer the potential for higher regular income through dividends and diversified exposure to growing businesses, but they can also carry greater credit and liquidity risk than typical stocks or bonds—think higher-yielding but riskier income instruments.

capital markets financial

"expand its capital markets capabilities, and support late- and growth-stage companies"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

mergers and acquisitions financial

"including portfolio optimization, platform-level mergers and acquisitions, capital markets transactions"

Mergers and acquisitions are processes where companies combine or one company purchases another to grow or improve their business. Think of it like two teams joining forces or one team buying out another to become stronger and more competitive. These activities matter to investors because they can influence a company's value, future growth, and overall market position.

portfolio optimization financial

"to focus on strategic initiatives across the Runway platform, including portfolio optimization"

Portfolio optimization is the process of arranging and adjusting an investment collection to achieve the best possible balance between potential returns and risk. It’s like fine-tuning a recipe to get the most flavor with the least unwanted ingredients, helping investors make smarter choices about how to allocate their money to meet their financial goals efficiently.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The planned transition supports Runway's long-term focus on disciplined growth, capital formation, and operational continuity

MENLO PARK, Calif.,, July 14, 2026 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to venture and non-venture-backed companies, today announced the completion of a planned executive leadership transition designed to support the firm's continued growth. Effective June 30, 2026, Carmela Thomson, Senior Vice President, Finance and Accounting, succeeded Thomas B. Raterman as Chief Financial Officer. Raterman, previously Chief Financial Officer and Chief Operating Officer, has become Vice Chairman.

"Carmela's appointment reflects the strength of the leadership bench we have built internally. She has earned the confidence of our team through her disciplined leadership, command of our financial strategy, and deep understanding of our capital structure. This is a thoughtful succession plan that supports continuity, discipline, and long-term growth," said David Spreng, Founder, CEO, and Chief Investment Officer of Runway Growth Capital. "Tom has been a trusted partner since Runway's inception and has helped build the financial and operational infrastructure we use today. His move into the Vice Chairman role allows us to continue benefiting from his experience on strategic initiatives across the platform."

Thomson joined Runway in June 2021 from KPMG LLP and helped build the accounting and financial reporting foundation that supported Runway Growth Finance Corp.'s transition to a public company later that year. Since then, she has contributed meaningfully to the firm's financial reporting processes and capital-raising efforts, while managing important aspects of portfolio accounting and operations during a period of significant platform growth. Her experience across accounting, audit, finance, capital markets, and portfolio operations gives her a strong understanding of Runway's financial strategy, capital structure, and portfolio construction, positioning her to help guide Runway's next phase of execution, including the accounting integration and reporting work associated with the platform's recent strategic transactions.

"I am honored to step into the CFO role and grateful for the confidence David, Tom, and the team have placed in me," said Thomson. "Runway's disciplined, credit-first approach and partnership-oriented culture have been central to its success, and I look forward to helping support the Company's continued execution and growth."

Before joining Runway, Thomson served as an Audit Senior Manager at KPMG LLP, where she focused on audit, accounting, and risk management for financial institutions. She is a Certified Public Accountant and holds a Bachelor of Science in Accounting and Economics from Loyola University of Chicago.

The planned transition comes as Runway continues to scale its platform, expand its capital markets capabilities, and support late- and growth-stage companies seeking flexible alternatives to equity financing. 

As Vice Chairman, Raterman has transitioned from his day-to-day responsibilities as Chief Financial Officer and Chief Operating Officer to focus on strategic initiatives across the Runway platform, including portfolio optimization, platform-level mergers and acquisitions, capital markets transactions, and capital formation. Raterman will continue to play an integral role for Runway Growth Finance Corp. (Nasdaq: RWAY), Runway's publicly traded business development company (BDC), serving on the investment committee and assisting with special-situation assets.

"I am proud of what Runway has built over the past decade and grateful for the opportunity to help guide the platform's next phase," said Raterman. "This transition allows me to continue supporting the BDC, our investment committee, and our broader leadership team while dedicating additional focus to strategic initiatives that can strengthen the platform and create long-term value."

Raterman joined Runway in 2015, shortly after the firm's founding, and has been central to building the firm's finance, operations, capital markets and reporting infrastructure. During his tenure, Runway completed the initial public offering of Runway Growth Finance Corp., scaled its credit-first platform focused on providing flexible growth capital to late- and growth-stage companies, and executed several key strategic milestones. Most recently, Raterman played a pivotal role in Runway Growth Capital's acquisition by BC Partners Credit and Mount Logan Capital, as well as Runway Growth Finance Corp.'s acquisition of SWK Holdings Corporation, both of which further expand Runway's scale, capabilities and long-term growth opportunities.

About Runway Growth Capital LLC

Runway Growth Capital LLC is the investment adviser 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 a target of $10 million to $150 million to fast-growing companies largely based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit 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 filings with the Securities and Exchange Commission made by Runway and Runway's affiliated funds. Neither Runway nor Runway's affiliated funds undertake a duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

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SOURCE Runway Growth Capital LLC

FAQ

Who is the new CFO of Runway Growth Finance (Nasdaq: RWAY) as of June 2026?

The new CFO is Carmela Thomson, effective June 30, 2026. According to Runway Growth Capital, she previously served as Senior Vice President, Finance and Accounting, and played a key role in building the firm’s accounting and financial reporting foundation.

What role does former CFO Thomas Raterman now hold at Runway Growth Finance (RWAY)?

Thomas B. Raterman now serves as Vice Chairman of Runway Growth Capital. According to the company, he has transitioned from day-to-day CFO and COO duties to focus on portfolio optimization, platform-level M&A, capital markets transactions, capital formation, and investment committee work.

What experience does Runway Growth Finance’s new CFO, Carmela Thomson, bring to the RWAY platform?

Carmela Thomson brings audit, accounting, finance, and capital markets experience to Runway. According to Runway Growth Capital, she joined in 2021 from KPMG, is a Certified Public Accountant, and helped build the reporting foundation for Runway Growth Finance Corp.’s transition to a public company.

How does the leadership transition affect Runway Growth Finance Corp. (Nasdaq: RWAY)?

Runway Growth Finance Corp. continues to be supported by both leaders. According to Runway Growth Capital, Thomson assumes CFO responsibilities, while Raterman remains on the investment committee and assists with special-situation assets, focusing on strategic initiatives across the broader Runway platform.

What strategic transactions are mentioned in Runway Growth Finance (RWAY) leadership transition news?

The announcement references two completed transactions. According to Runway Growth Capital, these are Runway Growth Capital’s acquisition by BC Partners Credit and Mount Logan Capital, and Runway Growth Finance Corp.’s acquisition of SWK Holdings Corporation, described as expanding scale, capabilities, and long-term growth opportunities.

Why did Runway Growth Finance (RWAY) implement this CFO and Vice Chairman succession plan?

The transition is described as a planned leadership change to support disciplined growth and continuity. According to Runway Growth Capital, appointing Thomson as CFO and moving Raterman to Vice Chairman is intended to back long-term execution, capital formation, and strategic initiatives across the Runway platform.