Viola Credit Secures $2 Billion in Oversubscribed Third Fund for Asset-Based Lending
Viola Credit, a leading global asset manager specializing in credit solutions for innovative economies, has recently marked a significant milestone by announcing the final close of its third Asset-Based Lending (ABL) fund. The total commitments for this fund have reached an impressive $2 billion, surpassing the initial target of $1.5 billion.
The final close reflects the growing enthusiasm among institutional investors towards private credit and the increasing importance of asset-based lending in the innovation economy. Viola Credit began this journey with a $600 million first close in April 2024, paving the way for this notable achievement. Additionally, a strategic joint venture valued at $500 million with Cadma Capital Partners, which is affiliated with Apollo Global Management, has further reinforced Viola Credit’s position in the market.
The oversubscription of this fund indicates a diversified pool of global institutional investors including pension funds, insurance companies, and family offices are keen on participating. Existing and new partners alike are capitalizing on the potential of the fund, which aims to deliver financing solutions to a broad spectrum of 30 to 40 new and existing FinTech and tech-enabled lenders across countries such as the United States, the United Kingdom, Western Europe, and Australia.
This fund does not just act as a financial reservoir but rather a facilitator for growth, catering to various sectors including SME finance, consumer credit, embedded lending, and even music royalties. With a solid track record exceeding $3 billion in asset-based lending, Viola Credit is well-poised to make an impact not only by providing capital but also by supporting companies in their expansive journey.
Viola Credit’s strategic growth approach is underlined by its recent appointment of Conor Sheehy as the Head of ABL Europe. Conor brings vast experience from his tenure at HSBC Innovation Bank. This appointment is expected to enhance the company's strategic capabilities in the European market significantly. Alongside him, Michael Chen has also joined as Head of U.S. ABL Investments, further bolstering the firm’s expertise within the asset-based lending sector.
As stated by Managing Partners Ruthi Furman and Ido Vigdor, the successful fundraising reflects a continued interest from institutional investors, thereby confirming the growing role that asset-based lending plays within the financial landscape. The fund is tailored to support tech-enabled lenders by expanding their originations and enhancing their access to necessary capital to sustain continued growth and competitiveness in the market.
Viola Credit now boasts approximately $4 billion in assets under management globally, with operations spread across major financial hubs including New York, London, and Tel Aviv. This diverse footprint not only facilitates effective capital deployment but also nurtures a thriving ecosystem for emerging FinTech lenders.
Viola Credit's commitment to the innovation economy is firmly rooted in its dedication to providing tailored financial solutions that cater to the unique needs of modern businesses. By continuing to focus on asset-based lending, the firm is equipped to address the evolving demands of financial markets while paving the way for groundbreaking ventures that challenge traditional norms.
In conclusion, the recent fundraising success of Viola Credit underscores the thriving investment landscape within asset-based lending. As this sector becomes increasingly relevant in the innovation economy, the firm is well-prepared to lead in providing effective financing solutions and fostering growth across various industries. With growing investor confidence and strong market interest, the future looks bright for both Viola Credit and its partners.
Overview of the Fund
The final close reflects the growing enthusiasm among institutional investors towards private credit and the increasing importance of asset-based lending in the innovation economy. Viola Credit began this journey with a $600 million first close in April 2024, paving the way for this notable achievement. Additionally, a strategic joint venture valued at $500 million with Cadma Capital Partners, which is affiliated with Apollo Global Management, has further reinforced Viola Credit’s position in the market.
The oversubscription of this fund indicates a diversified pool of global institutional investors including pension funds, insurance companies, and family offices are keen on participating. Existing and new partners alike are capitalizing on the potential of the fund, which aims to deliver financing solutions to a broad spectrum of 30 to 40 new and existing FinTech and tech-enabled lenders across countries such as the United States, the United Kingdom, Western Europe, and Australia.
Fund's Focus and Capabilities
This fund does not just act as a financial reservoir but rather a facilitator for growth, catering to various sectors including SME finance, consumer credit, embedded lending, and even music royalties. With a solid track record exceeding $3 billion in asset-based lending, Viola Credit is well-poised to make an impact not only by providing capital but also by supporting companies in their expansive journey.
Viola Credit’s strategic growth approach is underlined by its recent appointment of Conor Sheehy as the Head of ABL Europe. Conor brings vast experience from his tenure at HSBC Innovation Bank. This appointment is expected to enhance the company's strategic capabilities in the European market significantly. Alongside him, Michael Chen has also joined as Head of U.S. ABL Investments, further bolstering the firm’s expertise within the asset-based lending sector.
Future Prospects and Impact
As stated by Managing Partners Ruthi Furman and Ido Vigdor, the successful fundraising reflects a continued interest from institutional investors, thereby confirming the growing role that asset-based lending plays within the financial landscape. The fund is tailored to support tech-enabled lenders by expanding their originations and enhancing their access to necessary capital to sustain continued growth and competitiveness in the market.
Viola Credit now boasts approximately $4 billion in assets under management globally, with operations spread across major financial hubs including New York, London, and Tel Aviv. This diverse footprint not only facilitates effective capital deployment but also nurtures a thriving ecosystem for emerging FinTech lenders.
Viola Credit's commitment to the innovation economy is firmly rooted in its dedication to providing tailored financial solutions that cater to the unique needs of modern businesses. By continuing to focus on asset-based lending, the firm is equipped to address the evolving demands of financial markets while paving the way for groundbreaking ventures that challenge traditional norms.
In conclusion, the recent fundraising success of Viola Credit underscores the thriving investment landscape within asset-based lending. As this sector becomes increasingly relevant in the innovation economy, the firm is well-prepared to lead in providing effective financing solutions and fostering growth across various industries. With growing investor confidence and strong market interest, the future looks bright for both Viola Credit and its partners.
Topics Financial Services & Investing）
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