Viola Credit, a global asset fund that provides credit to startups, today announced the completion of the first closing of its third $600 million fund, designed to provide asset-backed credit to international fintech companies.
Viola Credit says that this is the first stage in a $1.5 billion, which will be closed in its entirety in the coming months.
Viola Credit manages assets worth $2.5 billion and the current fund will continue the same investment strategy. The credit provided to fintech companies is not designed for routine operations but to be available capital to provide credit to customers.
The fund will invest amounts between $10 and $500 million per investment directly in Israeli and global fintech companies. The current will invest in about 35 fintech companies in the US, UK, elsewhere in Western Europe and Australia.
Viola Credit managing partner Ido Vigdor told "Globes," "The goal of the fund is to be the source of credit financing for these companies, through investment in the credit portfolios of those companies."
Investors in the fund include veteran investors in Viola as well as institutional entities, including insurance companies, investment houses and Israeli and foreign banks. Also, the new fund includes a collaboration with Valio Advanced Investments, which makes the fund accessible to qualified investors in Israel.
"Committed to pioneering entrepreneurs"
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. Today more than ever, we are committed to pioneering entrepreneurs, and investing in the best technology companies in the world."
Viola's second credit fund, which raised $700 million, was closed in 2022. The first fund, amounting to $160 million, was closed in 2019.
To date, Viola Credit has invested in about 150 companies in Israel and around the world, and the fund has offices in Israel, London and New York.