The first closure of $600 million for Viola Credit’s third fund has been completed. The company specializes in lending to technology companies. The primary goal of this fund is to provide asset-backed lending to international fintech enterprises.
The first close is a part of a $1.5 billion overall fundraising target that should be mostly secured in the upcoming months.
At the moment, the corporation is in charge of $2.5 billion in assets. 150 businesses in Israel and other countries have received loan from Viola loan, which is run by partners Ruthi Furman and Ido Vigdor.
The investment strategy of Viola Credit will be carried out by the new fund, which will concentrate on asset-backed financing options for fintech businesses in Western nations that provide non-bank credit.
The fund will make investments in credit portfolios produced by fintech companies at different stages, both directly and through managed accounts.
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The investment amounts range from $10 million to $500 million, both in Israel and beyond, including the USA, UK, Western Europe, and Australia.
Ruth Furman and Vigdor, managing partners at Viola Credit, said “The third fund in the asset-backed credit strategy marks a significant milestone in the expansion of Viola Credit’s global operations. We have set ourselves the goal of being leading players and supporting the best financial technology companies in the world. The new funding will allow portfolio companies and new companies to expand their funding sources and concentrate on growth. More than ever, we are committed to pioneering entrepreneurs, and investing in the best technology companies in the world.”
The fund intends to carry out deals with 35 fintech businesses that are spread across various risk assets and geographical areas. Viola Credit has closed deals with ten additional fintech startups in this third fund as of the publication date.
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Existing investors and institutional players, such as insurance companies, investment businesses, foreign and Israeli banks, and family offices, are among the fund’s investors.
About Viola Credit
Violab Credit lending is a global alternative asset management that helps technology firms expand with innovative, flexible, and customized lending options. Growth Lending and Asset-Backed Lending are its core credit solutions.
