The fintech platform LiquidityGroup which finances late-stage technology companies, has announced a further $775 million private equity raise in partnership with Apollo and MUFG Bank.
In a statement, Ron Daniel, co-founder and CEO of LiquidityGroup, said: "The new capital partnership with Apollo and the continued successful partnership with MUFG is a validation of our founding vision to use artificial intelligence to transform capital markets."
The round was led by funds and entities managed by subsidiaries of Apollo (NYSE: APO). Commitments include $425 million from Apollo Funds for a line of credit to help LiquidityGroup scale its lending activity for late-stage technology companies. It also includes $300 million from MUFG Bank (NYSE: MUFG), for a joint venture of debt funds called Mars Growth Capital with the same goal and clients. Finally, there is also an investment in SAFE bonds (Simple Agreement for Future Equity) of 50 million by Apollo Funds, MUFG Innovation Partners and Spark Capital.
Founded in 2018, LiquidityGroup uses machine learning and real-time data to automate the entire loan investment lifecycle, committing more than $XNUMX billion in capital. Investments to date include Etoro, Zetwerk and Homer.
Apollo partner Joshua Black will also join the board of directors of LiquidityGroup.
Bret Leas, Partner at Apollo and Global Head of Corporate Structured Credit and ABS, said: "Ron and his team at Liquidity are connecting technology borrowers and credit investors through an innovative data-driven ecosystem, and we look forward to working with them." as the business grows.”
