Viola Credit, Apollo Affiliate Team On $500M JV

Viola Credit, an asset-based lending (ABL)-focused asset manager, and Cadma Capital Partners, an affiliate of Apollo Global Management, have formed a $500 million strategic joint venture that specializes in financing solutions for high-growth technology companies and the investment firms that sponsor them. The partnership will focus on executing ABL transactions originated and managed by Viola Credit.

The partnership “will deepen our ability to support technology-enabled lenders with a full suite of asset-based financing solutions across their origination lifecycle,” said Ido Vigdor and Ruthi Furman, managing partners and co-heads of Israeli-based Viola Credit.

The ABL market size was valued at $661.7 billion in 2023 and is expected to grow at a CAGR of over 11% between 2024 and 2032, according to a recent report by research and consulting firm Global Market Insights, adding that the rise in demand for working capital is another key driver in the market.

Viola Credit manages more than $2.5 billion in assets focused on ABL for financial, property and insurance technology companies. The company has completed over $2.8 billion of ABL transactions across the U.S, U.K, Western Europe, and Australia. It is part of the Viola Group, which has over $5.5 billion in assets.

Cadma provides financing for venture and growth companies. The firm operates globally, with a team of technology investors and business builders based in New York City and Silicon Valley.