Viola Credit, a global asset fund that provides credit to emerging companies, today announced the first close of its $600 million third fund, designed to provide asset-backed credit to global fintech companies.
Viola Credit says this is the first phase of a $1.5 billion deal, which will fully close in the coming months.
Viola Credit manages $2.5 billion in assets and the current fund will continue with 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.
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The fund will invest between $10 million and $500 million per direct investment in Israeli and global fintech companies. The current fund will invest in approximately 35 fintech companies in the US, UK, elsewhere in Western Europe and Australia.
“The fund’s goal is to be a source of credit financing for these companies, by investing in their credit portfolios,” Edo Vigdor, managing partner of Viola Credit, told Globes.
The fund includes experienced investors in Viola as well as institutional entities, including insurance companies, investment houses, and Israeli and foreign banks. The new fund also includes a collaboration with Valio Advanced Investments, making the fund available to qualified investors in Israel.
“Committed to supporting pioneering entrepreneurs”
“The third fund in our asset-backed credit strategy represents an important milestone in the expansion of Viola Credit’s global operations,” said Ruth Forman and Vigdor, Managing Partners at Viola Credit. “We have set ourselves the goal of being a leading player and backing the world’s best fintech companies. The new funding will allow our portfolio companies and new businesses to expand their funding sources and focus on growth. Today, more than ever, we are committed to championing entrepreneurs and investing in the world’s best tech companies.”
Viola’s second credit fund, which raised $700 million, closed in 2022. The first fund, which raised $160 million, closed in 2019.
To date, Viola Credit has invested in approximately 150 companies in Israel and around the world, and the fund has offices in Israel, London and New York.