Management

Learn more about our corporate governance and leadership teams.

David Spreng
Chairman, Chief Executive Officer and Chief Investment Officer
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David founded Runway Growth Capital in 2015 and is a member of the firm's investment committee.

David is a seasoned and respected Silicon Valley-based investment executive, with 30 years of experience as a venture capitalist and growth debt lender. As a VC, he has been active in the formation and development of nearly 50 technology companies with 18 IPOs and 14 trade-sales. He was ranked four times by Forbes magazine on their annual Midas List as one of the top 50 venture capitalists; in 2006 he was ranked the #8 VC.

Beginning in 2010, David transitioned from venture capital to growth lending as a Co-Founder of Decathlon Capital Partners, a provider of revenue-based loans to small, fast-growing, bootstrapped companies. His experience at Decathlon opened his eyes to the opportunity to use debt as an alternative to equity to finance the growth of both venture-backed and non-venture backed growth companies. In 2015, he formed what is today Runway Growth Capital to pursue this vision.

David’s commitment to the entrepreneurial ecosystem is unwavering. He has served on the board and as Chairman of the Government Affairs Committee of the National Venture Capital Association (“NVCA”) and has been an active member of the World Economic Forum (“WEF”) community—including as a frequent panelist in Davos, as a member of the Technology Pioneers Selection Committee, the Steering Committee for Entrepreneurship and Successful Growth Strategies, and as an adviser to the Alternative Investments 2020 and Mainstreaming Impact Investing initiatives.

Tom Raterman
Chief Financial Officer and Chief Operating Officer
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Tom joined Runway Growth Capital in 2015 as Chief Financial Officer and assumed the additional role of Chief Operating Officer in 2022. He is a member of the firm's investment committee.

Tom has more than 30 years of corporate finance, investment banking, and financial executive/management experience with rapidly growing entrepreneurial companies, including a long history in credit analysis, structuring, and lending. He has a passion for growing businesses. As a lender, investor, and executive he is committed to helping businesses grow profitably, building value for all constituents. Tom began his professional career as a corporate lender with Continental Bank and Security Pacific Bank, and over the next 12 years he moved progressively deeper in the balance sheet. After four years at GE Capital funding private companies with unique capital needs he joined Discovery Zone, Inc. where, as Treasurer, he completed multiple complicated debt and equity financings including its successful IPO and served as a key member of the team completing the sale to Blockbuster Video Corporation/Viacom. He also led the International Development program and most non-franchisee acquisitions. With former Discovery Zone executives, Tom co-founded LKQ Corporation, served as CFO and later Executive Vice President of its Central Region operations. During his tenure at LKQ Corporation the company completed 31 acquisitions and grew from start-up to $225 million in revenue. Tom most recently served as Partner and Chief Operating Officer of GSV Financial Group LLC and its wholly-owned subsidiary GSV Ventures LLC.

Tom holds a Masters of Management with a concentration in Finance from Northwestern University Kellogg Graduate School of Management and a Bachelor of Science in Finance from Miami University in Oxford, OH.

Joe McDermott
Chief Compliance Officer
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Joe joined Runway Growth Capital in 2021 as Chief Compliance Officer.

Joe is a certified compliance professional with over 20 years of compliance, risk, operational and managerial experience working with investment advisers, mutual funds, private funds, securitized funds and broker-dealers. He has served as Chief Compliance Officer (“CCO”) for registered investment advisers, investment companies and broker-dealers. Joe has extensive experience working with regulatory authorities, including the SEC, DOL, OSC, FINRA and the NFA and is a former securities regulator. He has broad experience managing examinations in addition to conducting operational, due diligence and risk management assessments.

Joe most recently served as the CCO for the THL Credit Senior Loan Fund, a NYSE listed closed-end fund, and the Compliance Manager for its investment adviser, THL Credit Advisors LLC – a $16 billion alternative credit adviser. Prior to his employment at THL Credit, he served as CCO for Aviva Investors Americas, LLC and Aviva Investors Canada, Inc. where he was responsible for all North American compliance activities for the investment advisory affiliates of Aviva plc, one of the largest insurance companies in the United Kingdom. Joe has served either as the CCO or in a senior compliance role for a number of investment advisers in the Chicago area, including Keeley Asset Management, First Trust Advisors, Driehaus Capital Management and Artisan Partners LP.

He currently serves on the Board of Directors of the National Society of Compliance Professionals (“NSCP”) and is a frequent speaker at compliance conferences and seminars. Joe is a contributing author to Modern Compliance: Best Practices for Securities & Finance (Wolters Kluwer September 2015).

He holds both a Master of Business Administration (MBA) and a Bachelor of Arts (BA) degree. Joe has held the following licenses: Series 3, 4, 7, 24, 27, 31, 53, 55, 65, and 66. He has a number of accreditations, including the Financial Risk Manager (FRM) designation from the Global Association of Risk Professionals, the Certified Securities Compliance Professional (CSCP) designation from the NSCP, and the Financial Modelling & Valuation Analyst (FMVA) designation from the Corporate Finance Institute. He previously held the Certified Anti-Money Laundering Specialist designation from the Association of Certified Anti-Money Laundering Specialists and the Certified Financial Services Auditor designation from the Institute of Internal Auditors.