Viola Credit, a global alternative credit asset manager with $4 billion in assets under management, has launched a new €300 million Growth Lending Fund dedicated to supporting technology companies across Europe. The fund has completed its first close with commitments from new and existing limited partners, led by the British Business Bank and the European Investment Fund (EIF).
The initiative reflects Viola Credit’s long-term strategy of providing flexible, non-dilutive capital to high-growth tech companies across the continent. Over the past decade, the number of European technology companies has increased fivefold, and the amount of capital they have raised has expanded tenfold.
Despite this growth, many individuals still struggle to access the type of funding necessary to scale their operations effectively. Viola Credit’s new fund aims to bridge this gap by delivering tailored financing solutions designed to help founders grow without sacrificing ownership or control.
The European Growth Lending strategy is focused on supporting the next generation of innovators in sectors such as Enterprise SaaS, Vertical AI, FinTech, Cleantech, and HealthTech. The fund will target up to 50 sponsor-backed companies in Western Europe and the UK. Viola Credit plans to leverage its data-driven underwriting platform, operational expertise, and global network to provide targeted support to companies at critical stages of expansion.
The new fund builds upon Viola Credit’s established Growth Lending platform, which has already deployed over €450 million to European technology firms over the past four years. Through its prior Growth Lending vintages (GL I and GL II), the firm has supported dozens of companies across the UK, Europe, Australia, and Israel.
The participation of major institutional investors, such as the British Business Bank and EIF, marks a significant endorsement of Viola Credit’s growth strategy and Europe’s evolving innovation economy. The fund’s backers emphasize its role in facilitating minimally dilutive financing for high-potential companies and in bolstering Europe’s position as a global technology leader.
Since establishing its London office in 2023, Viola Credit has expanded its European presence and built a dedicated team focused on the region, reinforcing its commitment to empowering technology companies throughout Europe.
KEY QUOTES:
“We’re seeing incredible momentum across the European tech landscape. This fund allows us to deepen our commitment to supporting visionary founders with flexible, non-dilutive capital that helps them scale without compromise. We’re thrilled to welcome the British Business Bank and EIF as new investors — their support reflects our shared conviction in the opportunity ahead and the power of partnership to drive sustainable growth across Western Europe.”
Neha Mittal, Managing Director and Head of Europe at Viola Credit
“We’re pleased to support Viola Credit as they continue expanding their presence and impact across the UK and Europe, backing scale-up technology companies with additional growth capital. Our capital commitment will support businesses operating across AI, Fintech, Cleantech and Healthtech sectors with minimally dilutive funding, helping them to achieve rapid growth without reducing control of their business.”
Adam Kelly, Managing Director and Co-Head of Funds at the British Business Bank
“By backing Viola Credit’s €300 million Growth Lending Fund, the European Investment Fund is helping up to 50 innovative companies in cloud computing, AI, fintech, cleantech, and Healthtech — key sectors where Europe must lead globally. Our support delivers flexible, non-dilutive financing vital for entrepreneurs to scale new ideas while bridging gaps left by traditional finance and strengthening Europe’s innovation ecosystem.”
Marjut Falkstedt, Chief Executive of the European Investment Fund
