Apollo has created a credit platform specializing in providing asset-backed credit and financing to the venture ecosystem of companies, and has named Jon Beizer as chief executive officer and Josh Brody as president to run the enterprise.
Cadma Capital Partners, the name of the new venture, will serve as investors in asset-backed securities, providing asset-backed financing to venture- and growth-lenders, high-growth companies, and financial sponsors, Apollo said in a statement.
The move comes as technology and growth companies look for cost-effective sources of capital, according to an announcement from the company, especially as the markets for initial public offering, mergers and acquisitions and public financing stay muted, according to Apollo.
Entities related to New York City-based alternative investments leader Apollo—including ATLAS, Redding Ridge and MidCap—will consult with Cadma to put together structured finance solutions for the types of firms mentioned, the company said in a statement.
Both Beizer and Brody join Cadma from Western Technology Investment, which itself has committed more than $7 billion in funding to technology and innovation startups, according to the firm’s website.
Beizer had been an investment partner at Western Technology Investment since 2013, and prior to that he was a founding partner of Foghorn Capital a financial advisory firm. Brody, meanwhile, was also an investment partner at Western Technology Investment, and before that he was founder and CEO of Pronoun, a venture-backed digital publishing platform that Macmillan Publishers later acquired.
