Apollo, MUFG back financial technology company Liquidity Group

Apollo Global Management Inc.
and Mitsubishi UFJ Financial Group Inc. (MUFG)
on Tuesday said they committed $775 million to Liquidity Group, a specialist in artificial intelligence technology to make funding decisions for loans to late-stage technology companies. Apollo plans to provide $425 million to help Liquidity scale its lending activity while MUFG committed $300 million for a joint venture debt fund called Mars Growth Capital for pre-unicorn companies. In addition, Apollo, MUFG Bank and Spark Capital invested an additional $50 million in the form of a SAFE note. Liquidity Group’s assets under management will increase to more than $2 billion with the investments. The Liquidity Group’s analysis system performs due diligence within 72 hours, compared to an industry norm of six-12 weeks while achieving default rates five times better than the industry average, the company said. Tel Aviv-based Liquidity Group describes itself as the leading predictive modeling platform for tech, and an asset management institute financing late stage startups across the globe. The company was co-founded by its CEO Ron Daniel, who is also CEO of Mars Growth Capital.