Viola Credit closes first $600 million of new $1.5 billion fund
The firm’s third fund will focus on offering asset-backed credit to global fintech companies.
Viola Credit, which specializes in providing credit to technology companies, has completed the first close of $600 million for its third fund. This fund will focus on offering asset-backed credit to global fintech companies. The initial close is part of an overall fundraising goal of $1.5 billion, which is expected to be mostly secured in the coming months. The company currently manages assets totaling $2.5 billion. Viola Credit, managed by partners Ruthi Furman and Ido Vigdor, has provided credit to 150 companies in Israel and around the world.
The new fund will continue Viola Credit's investment strategy, focusing on asset-backed financing solutions for fintech companies that offer non-bank credit in Western countries. The fund will invest directly and through managed accounts in credit portfolios issued by fintech companies at various stages, with investment volumes ranging from $10 million to $500 million in Israel and abroad, including in the USA, UK, Western Europe, and Australia.
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The fund plans to execute transactions with 35 fintech companies, diversified across different risk assets and geographies. As of the publication date, Viola Credit has completed transactions with 10 new fintech companies in this third fund. Investors in the new fund include existing investors as well as institutional entities, including insurance companies, investment firms, banks—both foreign and Israeli—and family offices.
