The credit-oriented fintech platform Liquidity Group, which funds later-stage technology companies, has announced a new raise of $775 million from private equity house Apollo and MUFG Bank.
In a statement Ron Daniel, co-founder and CEO of Liquidity Group, said: “The new capital partnership with Apollo and the continued and successful partnership with MUFG is a validation of our founding vision to use artificial intelligence to transform the capital markets.”
The round was led by funds and entities managed by affiliates of Apollo (NYSE: APO). The commitments include $425 million from Apollo Funds for a credit facility to help Liquidity scale its lending activity for late-stage technology companies. It also includes $300 million from MUFG Bank (NYSE: MUFG), for a debt fund joint venture named Mars Growth Capital. This will now invest in late-stage tech companies. Finally, there is also a $50 million SAFE note investment by Apollo Funds, MUFG Innovation Partners and Spark Capital.
Founded in 2018, Liquidity employs machine learning and real-time data to automate the full credit investment lifecycle, committing more than $1 billion in capital. Investments to date include Etoro, Zetwerk and Homer.
Apollo Partner Joshua Black will also join Liquidity’s board of directors.
Bret Leas, Apollo partner and global head of Structured Corporate Credit & ABS said: “Ron and his team at Liquidity are connecting technology borrowers and credit investors via an innovative, data-driven ecosystem, and we look forward to working with them as they scale the business.”