<article>Sydney-based venture capital firm <a href="https://www.dealstreetasia.com/?s=OneVentures" target="_blank" rel="noopener">OneVentures</a> and Israel-based <a href="https://www.dealstreetasia.com/?s=Viola+Credit" target="_blank" rel="noopener">Viola Credit</a> has teamed up to launch a A$100 million ($74 million) venture credit fund dedicated to the Australian market, OneVentures announced.</article>

Sydney-based venture capital firm <a href="https://www.dealstreetasia.com/?s=OneVentures" target="_blank" rel="noopener">OneVentures</a> and Israel-based <a href="https://www.dealstreetasia.com/?s=Viola+Credit" target="_blank" rel="noopener">Viola Credit</a> has teamed up to launch a A$100 million ($74 million) venture credit fund dedicated to the Australian market, OneVentures announced.
The new venture credit fund will be launched in August and is expected to reach the first close by November 2018.
“Viola Credit is interested to expand into the Asia Pacific region and we see the opportunity to do this with partners. OneVentures is our first partner in this region,” Ruthi Simha, co-founder and general partner at Viola Credit said, in the release.
Elaborating on the credit fund, Dr Michelle Deaker, managing partner, OneVentures, said, &#8220;the product is preferred by entrepreneurs and shareholders as it can be less dilutionary on equity and may extend the capital runway to achieve important company milestones. For investors, the product has lower risk profile than venture equity.&#8221;
The fund will target investing in technology companies with strong revenue and high growth potential. The $100-million fund will be a seven year closed end fund and target about 40 investments.
The fund is expected to target a 15 per cent to 20 per cent internal rate of return, compared to traditional venture capital equity funds which expect to generate about 25 per cent.
OneVentures currently has over $330 million in funds under managements and is focusing on investment in technology and healthcare companies.
Viola Credit, on the other hand, is an arm of Viola which has supported over 200 technology companies to date through its different funds like Viola Ventures, Viola Growth, Viola Fintech and Viola partners. Viola Group manages a total of about $3 billion across its platforms.
Since 2000, Viola Credit has completed over 120 transactions and has made $700 million in commitments to Israeli and non-Israeli companies.
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The new fund which will be Australia’s first venture debt fund will be launched in August and expected to reach the first close by November 2018.

Sydney's OneVentures, Israel's Viola team up to launch $74m credit fund

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Sydney's OneVentures, Israel's Viola team up to launch $74m credit fund

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