Mars Growth Capital

ActiveVenture Capital

Updated: Jan 6, 2026 ·

About

MARS Growth Capital is a unique partnership that allows capital and technology to orbit together. It combines the financial might of MUFG with the decision science of Liquidity Group to create unprecedented, tech-based initiatives at scale.

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Aug 1, 2025	PayControl	$2.0M Seed	—	AngelList, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Presight Capital, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Nov 1, 2024	Boosted.ai	$15.0M Venture Round	—	305 Ventures, BDC Venture Capital, Chemi, Cubit Investments Ltd, Drive Capital, Ping An Ventures, Portage Ventures, Spark Capital, TTV Capital, Viola Ventures, Ofer Adler, Rafi Gidron
Apr 1, 2024	Pigment	$140.0M Series D	—	9Yards Capital, Abstract Ventures, Kevin Hartz, Accel, AirAngels, Album VC, Alt Capital, Alumni Ventures, Andreessen Horowitz, Banana Capital, Earl Grey Capital, Founders Fund, Greenoaks Capital, Haun Ventures, ICONIQ Capital, Insight Partners, IVP, Jude Gomila Rolling Fund, K2 Global, Kearny Jackson, Menlo Ventures, Meritech Capital Partners, Mischief Venture Capital, NFX, Offline Ventures, Paradigm, Pareto Holdings, Pioneer Fund, Redpoint Ventures, Ribbit Capital, Stripe, Tribe Capital, TTV Capital, Vera Equity, Vine Ventures LP, Winklevoss Capital, YLEM, Amir Jerbi, Anthony Pompliano, Bill Ackman, Dan Wright, David Petersen, Eric Ries, Frederic Kerrest, Gordon Wintrob, Jeremy Cai, Jon Runyan, Kunal Shah, Mathilde Collin, Max Mullen, Paul Rios, Ryan Carlson, Ryan Chan, Sasha Mirchandani, Scott Belsky, Siqi Chen, Tomer Levy, Tony Xu, Zack Kanter
Apr 1, 2022	Streamlined	$3.0M Seed	—	AngelList, Base Ventures, Blumberg Capital, Correlation Ventures, Cyberstarts VC, Deciens Capital, DST Global, Fenway Summer, Financial Venture Studio, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Kapor Capital, Mouro Capital, Nyca Partners, Presight Capital, Ravelin Capital, SignalFire, Ulu Ventures, Valar Ventures, WndrCo LLC, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Moore, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Feb 1, 2022	Upswing Financial Technologies	$4.0M Seed	—	AngelList, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Presight Capital, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov, Quona Capital
Feb 1, 2022	Cloud Paper	$5.0M Venture Round	—	20VC, AngelList, Canonical Crypto, Cyberstarts VC, DCM, DST Global, Forerunner Ventures, Founders Fund, Fuel Ventures, Greycroft, Gutter Capital, Hetz Ventures, Insight Partners, Kleiner Perkins, NFX, Presight Capital, Sound Ventures, The Hit Forge, Valar Ventures, VSC Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Darius Contractor, Drew Koven, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Jan 1, 2022	Boosted.ai	$35.0M Series B	—	305 Ventures, BDC Venture Capital, Chemi, Cubit Investments Ltd, Drive Capital, Ping An Ventures, Portage Ventures, Spark Capital, TTV Capital, Viola Ventures, Ofer Adler, Rafi Gidron
Jan 1, 2022	Bigpanda	$190.0M Series D	—	AngelList, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Presight Capital, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Jan 1, 2022	Novo	$90.0M Series B	—	Accel, AngelList, Avalancha Ventures, Benchmark, Brighton Park Capital, Buckley Ventures, Cowboy Ventures, Crosslink Capital, Cyberstarts VC, DST Global, E14 Fund, Felix Capital, Floodgate, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Human Augmentation Syndicate, Insight Partners, March Capital, Nyca Partners, Presight Capital, QueensBridge Venture Partners, Rainfall Ventures, Relay Ventures, Sapphire Ventures, Seven Seven Six, Howard Lindzon, Susa Ventures, Greg Bettinelli, The Hit Forge, Transmedia Capital, Valar Ventures, Y Combinator, Abhinav Asthana, Andrew Bialecki, Ben Bernstein, Danny Hadar, Eric Ries, Erik Podzuweit, Florian Prucker, John Fontein, Josh Spear, Mato Peric, Michael Birch, Nico Rosberg, Oliver Jung, Philippe Teixeira da Mota, Sahin Boydas, Sean Park, Yevgeny Dibrov
Jan 1, 2022	Luca	$3.0M Seed	—	Amino Collective, AngelList, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Haun Ventures, Christian Miele, Heartcore Capital, Hetz Ventures, Insight Partners, Latitud, monashees, Pantera Capital, Presight Capital, Sequoia Capital, Shilling Capital, Valar Ventures, Abhinav Asthana, Alexandre Scialom, Ben Bernstein, Carlos Julio Garcia, Danny Hadar, Erik Podzuweit, Florian Prucker, François Nuyts, Gokul Rajaram, Hugo Arevalo, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Pierre Lavaux, Yago Arbeloa, Yevgeny Dibrov
Dec 1, 2021	Atmosec	$6.0M Seed	—	10D, AngelList, Cyberstarts VC, DST Global, Entrée Capital Ventures, Flint Capital, Founders Fund, Fuel Ventures, Glilot Capital Partners, Greycroft, Hetz Ventures, Insight Partners, Lightspeed Venture Partners, NFX, Norwest Venture Partners, OurCrowd, Presight Capital, UpWest, Valar Ventures, Abhinav Asthana, Ariel Maislos, Assaf Hefetz, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Gil Shai, Marty Weiss, Mato Peric, Ofir Ehrlich, Oliver Jung, Philippe Teixeira da Mota, Prescott Watson, Shai Morag, Yair Weinberger, Yevgeny Dibrov
Nov 1, 2021	GajiGesa	$7.0M Seed	—	AngelList, Avaana Capital, Cyberstarts VC, Defy Partners, DST Global, Flex Capital, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, MassMutual Ventures, Presight Capital, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Philippe Teixeira da Mota, Yevgeny Dibrov
Nov 1, 2021	Pigment	$73.0M Series B	—	Accel, Bain Capital Ventures, Benchmark, Blossom Capital, FirstMark Capital, Greenoaks Capital, Index Ventures, Insight Partners, Kima Ventures, Salesforce Ventures, Kunal Shah, Sasha Mirchandani, Will Prendergast
Nov 1, 2021	MonetizeNow	$3.0M Seed	—	500 Global, Alt Capital, Andreessen Horowitz, AngelList, Archetype, Asset Management Ventures, Bain Capital Ventures, Basis Set Ventures, Bessemer Venture Partners, Citi Ventures, Coinbase Ventures, Contour Venture Partners, CRV, Cyberstarts VC, DST Global, Fifth Down Capital, Founders Fund, Fuel Ventures, Glasswing Ventures, Greycroft, Greylock, Hetz Ventures, Homebrew, ICONIQ Capital, Insight Partners, Mischief Venture Capital, NextView Ventures, One Planet Group, O'Reilly AlphaTech Ventures, Presight Capital, Redpoint Ventures, Todd and Rahul's Angel Fund, Trajectory Ventures, Tribe Capital, Two Sigma Ventures, Uncork Capital, Valar Ventures, Winklevoss Capital, Work-Bench, Anne Wojcicki, Anthony Pompliano, Arash Ferdowsi, Balaji Srinivasan, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Gokul Rajaram, Halle Tecco, Howie Liu, Mark Ghermezian, Mato Peric, Nitay Joffe, Oliver Jung, Philippe Teixeira da Mota, Roger Ehrenberg, Ron Pragides, Rudra Peram, Steven Sarowitz, Trevor Noah, Yevgeny Dibrov
Oct 1, 2021	Ajaib	$150.0M Series B	—	Alpha JWC Ventures, AngelList, Ascend Vietnam Ventures, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Insignia Ventures Partners, Presight Capital, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Aug 1, 2021	Zetwerk	$150.0M Series E	—	Accel, Banana Capital, Cambrian Ventures, Kevin Ding, FTX Ventures, Greenoaks Capital, LGF, New Form Capital, South Park Commons, Uncorrelated Ventures, Kunal Shah, Sasha Mirchandani, Tim Griffin
Aug 1, 2021	UpScalio	$43.0M Series A	—	AngelList, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Insight Partners, Jigsaw VC, Presight Capital, QED Investors, Tiger Global Management, Union Square Ventures, V3 Ventures, Valar Ventures, Abhinav Asthana, Ben Bernstein, Danny Hadar, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Jul 1, 2021	TMRW Life Sciences	$110.0M Series C	—	AngelList, Vasudev Bailey, Cyberstarts VC, DST Global, Founders Fund, Fuel Ventures, GreaterGoodSociety, Greycroft, Hetz Ventures, Highland Capital Partners, Hoxton Ventures, Innovation Endeavors, Insight Partners, Pieter Kemps, Presight Capital, Questa Capital, Radical Ventures, Section 32, Sequoia Capital, The House Fund, Transformation Capital, Valar Ventures, What If Ventures, Xfund, Abhinav Asthana, Ben Bernstein, Danny Hadar, Erik Podzuweit, Florian Prucker, Mato Peric, Michael Baum, Oliver Jung, Patrick S. Chung, Philippe Teixeira da Mota, Richard Branson, Tushar Ahluwalia, Yevgeny Dibrov
Jun 1, 2021	Novo	$41.0M Series A	—	Accel, AngelList, Avalancha Ventures, Buckley Ventures, Cowboy Ventures, Cyberstarts VC, DST Global, E14 Fund, Felix Capital, Floodgate, Founders Fund, Fuel Ventures, Greycroft, Hetz Ventures, Human Augmentation Syndicate, Insight Partners, March Capital, Nyca Partners, Presight Capital, QueensBridge Venture Partners, Rainfall Ventures, Relay Ventures, Seven Seven Six, Howard Lindzon, Susa Ventures, Greg Bettinelli, The Hit Forge, Transmedia Capital, Valar Ventures, Y Combinator, Abhinav Asthana, Andrew Bialecki, Ben Bernstein, Danny Hadar, Eric Ries, Erik Podzuweit, Florian Prucker, John Fontein, Josh Spear, Mato Peric, Michael Birch, Nico Rosberg, Oliver Jung, Philippe Teixeira da Mota, Sahin Boydas, Sean Park, Yevgeny Dibrov
Apr 1, 2021	IRP Systems	$31.0M Series C	—	AngelList, Cathay Innovation, Cyberstarts VC, DST Global, Eclipse Ventures, Entrée Capital Ventures, Founders Fund, Fuel Ventures, Greycroft, Bernardo Hernandez, Hetz Ventures, Insight Partners, Presight Capital, Seaya Ventures, Valar Ventures, Abhinav Asthana, Ben Bernstein, Edoardo Bianchi, Erik Podzuweit, Felix Ruiz Hernandez, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Feb 1, 2021	Zetwerk	$120.0M Series D	—	Accel, Banana Capital, Cambrian Ventures, Kevin Ding, FTX Ventures, Greenoaks Capital, LGF, New Form Capital, South Park Commons, Uncorrelated Ventures, Kunal Shah, Tim Griffin
Sep 1, 2020	Cloud Paper	$3.0M Seed	—	20VC, 75 & Sunny, Accel, AngelList, Contour Venture Partners, Cyberstarts VC, DST Global, Footprint Coalition, Founders Fund, Fuel Ventures, Greenoaks Capital, Greycroft, Hetz Ventures, Insight Partners, Inspired Capital, Kaszek Ventures, Latitud, Meritech Capital Partners, NFX, Pareto Holdings, Pitbull Ventures, Presight Capital, Renegade Partners, Sherpalo Ventures, SoftBank Investment Advisers, Sound Ventures, Stellar Capital, The Valley Fund, Valar Ventures, VSC Ventures, Abhinav Asthana, Ben Bernstein, Blake Mycoskie, Danny Hadar, Darius Contractor, David Vélez, Donald Fischer, Drew Koven, Erik Podzuweit, Florian Prucker, Mato Peric, Michael Stoppelman, Oliver Jung, Philippe Teixeira da Mota, Simon Borrero, Yevgeny Dibrov
Jul 1, 2020	Zetwerk	$21.0M Series C	—	Accel, Banana Capital, Cambrian Ventures, Kevin Ding, FTX Ventures, Greenoaks Capital, LGF, New Form Capital, South Park Commons, Uncorrelated Ventures, Kunal Shah, Tim Griffin
May 1, 2020	IRP Systems	$17.0M Series B	—	AngelList, Cathay Innovation, Cyberstarts VC, DST Global, Eclipse Ventures, Entrée Capital Ventures, Founders Fund, Fuel Ventures, Greycroft, Bernardo Hernandez, Hetz Ventures, Insight Partners, Presight Capital, Seaya Ventures, Valar Ventures, Abhinav Asthana, Ben Bernstein, Edoardo Bianchi, Erik Podzuweit, Felix Ruiz Hernandez, Florian Prucker, Mato Peric, Oliver Jung, Philippe Teixeira da Mota, Yevgeny Dibrov
Dec 1, 2019	Zetwerk	$32.0M Series B	—	Accel, Banana Capital, Cambrian Ventures, Kevin Ding, FTX Ventures, Greenoaks Capital, LGF, New Form Capital, South Park Commons, Uncorrelated Ventures, Kunal Shah, Tim Griffin

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Mars Growth Capital.

Shane Weissman

Scout

Leadership Team

Key people at Mars Growth Capital.

Shane Weissman

Scout

Deep Dive

High-Level Overview

Mars Growth Capital is a Singapore-based investment firm specializing in providing debt and growth capital financing to technology-related companies primarily across the Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions. It operates as a joint venture between MUFG Bank, Japan’s largest bank, and Liquidity Group, combining MUFG’s financial strength with Liquidity’s decision science and technology-driven investment approach. Mars Growth Capital focuses on supporting high-growth startups and scale-ups by offering large-scale, non-dilutive financing solutions that fuel expansion without equity dilution. Their portfolio includes companies in sectors such as adtech (e.g., InMobi), building materials platforms (Infra.Market), executive education (Eruditus), and food delivery (HungryPanda), demonstrating a broad sectoral reach within technology-driven businesses[1][2][4].

Origin Story

Founded in 2020, Mars Growth Capital was established as a strategic partnership between MUFG and Liquidity Group to leverage the strengths of both entities—MUFG’s vast financial resources and Liquidity’s advanced data-driven investment methodologies. This collaboration was designed to create a unique investment platform that integrates capital with technology to scale growth-stage companies efficiently. The firm has evolved to focus on providing growth capital and debt financing tailored to the needs of tech companies in dynamic markets, emphasizing scalable, tech-enabled business models. Key partners include senior leadership based in Singapore, such as Akiko Nishida (Head of Operations) and Burkhard Niewoehner (Senior Director, Debt Capital & Originations), who guide the firm’s strategic direction and deal origination[2][3].

Core Differentiators

Unique Investment Model: Mars Growth Capital blends traditional financial strength with cutting-edge decision science, enabling data-driven, scalable financing solutions tailored for tech companies.
Strong Network: The partnership between MUFG and Liquidity Group provides access to extensive financial resources and a global network, enhancing deal flow and support capabilities.
Track Record: The firm has successfully deployed over $100 million in debt financing to notable high-growth companies like InMobi, Infra.Market, Eruditus, and HungryPanda, illustrating its ability to back diverse tech sectors.
Operating Support: Beyond capital, Mars Growth Capital offers strategic support leveraging its partners’ expertise, helping portfolio companies accelerate growth without diluting ownership[1][2][4].

Role in the Broader Tech Landscape

Mars Growth Capital is positioned at the intersection of rising demand for non-dilutive growth capital and the increasing sophistication of data-driven investment strategies. The firm rides the trend of tech companies seeking alternative financing options beyond traditional venture capital equity rounds, especially in APAC and EMEA markets where growth-stage tech firms require substantial capital to scale globally. The timing is favorable due to expanding digital economies, increased startup maturity, and the need for flexible capital solutions amid evolving market conditions. By providing large-scale debt financing, Mars Growth Capital influences the ecosystem by enabling startups to maintain control while accessing growth capital, fostering sustainable scaling and innovation in technology sectors[1][2][3].

Quick Take & Future Outlook

Looking ahead, Mars Growth Capital is likely to deepen its footprint in the APAC and EMEA regions, expanding its portfolio across emerging tech sectors and possibly increasing fund sizes to meet growing demand. Trends such as digital transformation, fintech innovation, and cross-border tech expansion will shape its investment focus. The firm’s unique blend of financial muscle and technology-driven decision-making positions it well to adapt to market shifts and continue supporting high-potential companies. Its influence may grow as more startups seek non-dilutive capital solutions, making Mars Growth Capital a key enabler of tech ecosystem growth and maturity in its target regions[1][2][3].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Mars Growth Capital blends traditional financial strength with cutting-edge decision science, enabling data-driven, scalable financing solutions tailored for tech companies.
Strong Network: The partnership between MUFG and Liquidity Group provides access to extensive financial resources and a global network, enhancing deal flow and support capabilities.
Track Record: The firm has successfully deployed over $100 million in debt financing to notable high-growth companies like InMobi, Infra.Market, Eruditus, and HungryPanda, illustrating its ability to back diverse tech sectors.
Operating Support: Beyond capital, Mars Growth Capital offers strategic support leveraging its partners’ expertise, helping portfolio companies accelerate growth without diluting ownership[1][2][4].