Apollo Global Management has partnered with venture capital firm 8VC to roll out a new investment vehicle aimed at technology firms in industries such as aerospace, advanced manufacturing, life sciences, logistics and natural resources, according to a report by Bloomberg.
The firms plan to deploy “several billion dollars” into the venture, using Apollo’s hybrid capital platform. Apollo, which manages about $840bn in assets, is broadening its private markets strategy by moving beyond traditional buyouts toward growth stage and industrial tech opportunities.
The partnership will also include private investment firm and Apollo-affiliated Cadma Capital. Apollo currently manages about $75bn in hybrid strategies, with the firm’s hybrid business having raised $7bn this year through August.
