Viola Credit hits $2bn close for ABL fund
Viola Credit, which has $4bn (£1.5bn) in assets under management, has raised $2bn at the final close of its oversubscribed Asset-Based Lending Fund, focused on financing global fintech companies.
The final close follows Viola Credit’s $600m first close announced in April 2024, when the firm set a fundraising target of $1.5bn.
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“This milestone reflects the continued interest from institutional investors in the private credit market and the growing role of asset-based lending within it,” said Ruthi Furman and Ido Vigdor managing partners at Viola Credit.
Viola Credit, which lends to fintech, proptech and insurtech companies, said its third Asset-Based Lending Fund received commitments from a range of global institutional investors, including pension funds, insurance companies, endowments and family offices, with participation from both new and existing partners.
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Speaking to Alternative Credit Investor, Vigdor added: “The characteristics of asset-based lending are very attractive to investors, that’s what’s driving growth: clear assets to finance against, granular and diversified asset pools, self-amortising, cash-flow-generating portfolios, and typically short-duration exposures.”
The final close follows Viola Credit’s $500m strategic joint venture announced in May with Cadma Capital Partners, an affiliate of Apollo Global Management, aimed at supporting the firm’s lending expansion across Western markets.
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