Viola Credit, a global alternative credit asset manager with $4 billion in AuM to date, announced the launch of a Growth Lending fund dedicated to the European tech market. The fund, targeted at €300 million, has completed its first close with commitments from “a mix of new and existing limited partners led by the British Business Bank and European Investment Fund (EIF).”
With the number of European technology companies having “grown fivefold over the past decade, this launch marks a significant milestone in Viola Credit’s long-standing belief in the strength of the UK and European tech ecosystem.”
Over the same period, European tech firms have raised “more than ten times the amount of capital raised in the previous decade, yet many still lack access to the flexible funding solutions required to support their growth.”
Europe is said to be entering another “phase of innovation, powered by new technologies and fresh talent.”
Viola Credit is pleased to back the companies turning that “potential into global impact.”
The firm will continue to leverage its data-driven underwriting platform, “operational expertise, and global network to support UK and European founders at their critical growth inflection points.”
The European Growth Lending strategy is designed to provide non-dilutive financing solutions to support to the so-called “next generation of European tech innovators.”
It builds on Viola Credit’s Growth Lending platform, which has backed dozens of high-growth technology companies “across the UK, Europe, Australia, and Israel through its previous fund vintages (GL I, GL II).”
With more than €450 million allocated to European tech firms over the past four years, Viola Credit says that it brings a solid track record and regional experience.
The fund aims to deploy capital across “up to 50 sponsor-backed companies in Western Europe and the UK, with a focus on sectors including Enterprise SaaS, Vertical AI, FinTech, Cleantech, and HealthTech.”
The fund from Viola Credit, backed by commitments from the British Business Bank and the EIF, highlights the “role of growth lending in driving innovation and supporting the UK and European tech ecosystem.”
Since establishing its London office back in 2023, Viola Credit has deepened its presence in the UK and expanded its European team, doubling down on its commitment to supporting tech firms in Europe.
As noted in the update, Viola Credit is a credit asset manager with $4 billion in AuM, focused on enabling the growth of the so-called innovation economy.
With more than $3 billion in completed transactions, Viola Credit operates across the U.S., U.K., Western Europe, Australia, and Israel, with “offices in New York, London, and Tel Aviv.”