December 2024, Vol #50 | 2024 A Year in Review
In this month’s issue of Basic Certainties, Liquidity Group offers an overview of the latest news, notable events, and key activities from December.
Liquidity has unveiled Liquidity.com as its new home, bringing together its operations across New York, Singapore, London, Abu Dhabi, and Tel Aviv under a unified digital platform. This marks a key step in the company’s strategy to scale and strengthen its presence in the AI-driven asset management sector.
Additionally, 2024 was a landmark year with $870 million new commitments in 28 equity and debt deals across 4 continents. Notably, 12 new Term Sheets for debt investments, valued at $370 million, were issued in December alone across 7 countries.
Now with $2.75 billion in assets under management, Liquidity is preparing for continued expansion, focusing on innovation and global growth in the years ahead. Co-Founder and CEO Ron Daniel emphasized that “Our new home reflects who we are and where we’re headed. We’re thrilled to welcome you to Liquidity.com as we continue to scale and innovate with speed and precision.”
Read the full story of how one of the most sought-after domains became our new home below.
In 2024, Dragon Fund , Liquidity and MUFG’s late-stage equity fund, deployed over $250 million across five major deals. Key highlights include:
Zepto : A $50 million investment in India’s fastest-growing quick-commerce company, part of a $340 million funding round that raised Zepto’s valuation to $5 billion.
CarDekho SEA: Leading a $60 million funding round with Navis Capital Partners for Southeast Asia’s largest auto financial services marketplace, reinforcing its leadership in the region.
Cohesity : Playing a crucial role with a $55 million in the merger between Cohesity and Veritas’ enterprise data protection business, creating a new leader in data security.
These investments position Dragon Fund at the forefront of growth in sectors like quick commerce and data security, with plans for continued expansion into 2025 and beyond.
At ADFW , Ron Daniel, CEO and Co-Founder of Liquidity, and Carmen James , Chief Strategy Officer, joined global leaders and experts from over 100 countries to explore the intersection of financial, human, and technological capital in driving economic growth.
Ron Daniel participated in a panel on “The State of Investing: Where Can Investors Find Value?” alongside Volkan Kurtas (Vibrant Capital), Lawrence E. Golub (Golub Capital), and Borja Diaz-Ilanos (Santander), moderated by Ellecia Saffron (Maysaffron). The session discussed key investment trends and value opportunities.
Carmen James moderated the panel “Inside an AI-Powered Economy,” with Bruno Lanvin (Descartes Institute), Rizwan Tufail (Pure Health), and Mostapha Tahiri (State Street), highlighting AI’s impact on global industries and innovation.
Liquidity solidified its role in the global VC ecosystem by partnering with Founders Forum Group to host a series of high-profile events, including the Founders Forum Global Annual Gala with Meta at The Peninsula Hotel. Key moments included the inaugural VC Summit in London, Founders Forum Europe in Berlin, and Founders Forum North America in New York, featuring Lionel Barber’s talk on SoftBank’s Masayoshi Son. Additionally, Liquidity co-hosted the Heads of Platform networking event in London, bringing together top leaders in the VC space. We look forward to the 20th edition of Founders Forum in 2026!
Welcome to the future - Liquidity has launched its AI Assistant. This powerful tool provides instant insights, on-demand data visualizations and the ability to analyse company performance like a Wall Street analyst, but for private markets. Currently available for all portfolio companies, the AI Assistant is poised to reshape how financial pros interact with complex data, potentially turning financial analysis on its head.
By streamlining due diligence and supercharging decision-making, Liquidity is setting a new standard for efficiency in financial analysis. For clients, this means faster access to critical info and a serious edge in opaque markets.
Oron Maymon , Co-Founder and CSO of Liquidity shares his 2025 outlook on how Liquidity’s AI-driven platform will shape the future of finance.
1. AI-Driven Investment Analysis Reports:
Liquidity aims to create AI tools that enable even basic individuals to generate sophisticated investment analysis reports. These AI-generated reports would rival the depth and quality of manually curated reports from skilled analysts, essentially streamlining the process of producing the equivalent of an investment committee (IC) report. While current AI, like GPT, can pass early-stage tests for conversational interaction, the goal is to go beyond that to truly replicate high-level analysis and reporting.
2. Ecosystem of Partners and Self-Serve Underwriting:
Liquidity AI’s platform will allow funders to build their own customized networks of reporting tools. These will include tailored underwriting options, enabling entities like LPs to adjust parameters to fit their unique investment strategies. Funders will be able to optimize the process according to their preferences, enhancing their decision-making power and agility.
3. Optimized Client Interaction & Engagement:
On the origination side, Liquidity AI will focus on speeding up the interaction process, allowing teams to prioritize and engage with clients efficiently. This will include identifying the best times to follow up and optimizing communication cycles so that Origination team members can maintain human connections while automating much of the routine work. The AI will analyze data to suggest optimal touchpoints, ensuring better connections and more impactful engagements.
While AI will optimize information flow and interaction timing, the goal is not to remove the human element but to enhance it. By automating the tedious, time-consuming aspects of client management and reporting, LPs will have more time to focus on the meaningful, value-driven interactions that foster long-term relationships and better investment outcomes.
Bloomberg Exclusive: India’s IPO Boom: 2025 Outlook featuring Dragon Fund’s CIO Ridhi Chaudhary
Ridhi Chaudhary , CIO at Dragon Fund , underscores the resilience and potential of India’s IPO market as it prepares for another record-breaking year in 2025.
Read the Entire article HERE
Liquidity’s global presence was highlighted through its active participation in key conferences around the world.
CEO Ron Daniel shared valuable insights at GITEX GLOBAL Largest Tech & Startup Show in the World Expand North Star 2024 in Dubai, while Reginald J. Mills focused on AI and DLT at ABS East.
Navas Ebin Muhammed showcased thought leadership on investor capital and cross-border investments at the Carta LP/GP Summit and had the honor of representing Liquidity and Mars Growth Capital at the UAE Pavilion during CEATEC in Tokyo, Japan. At Huddle Global 2024, he also participated in a panel discussion on private equity and credit for India’s technology sector.
In Europe, Paul Brodie and Justin Langen co-hosted numerous events, including a Bits & Pretzels side event with Cherry Ventures , an exclusive SaaStr gathering with Eurazeo and Speedivest, and Kfund’s South Summit Opening Event in Madrid.
Liquidity continues to make waves in the asset management industry with its innovative use of AI, driving remarkable growth and efficiency.
The Wall Street Journal highlighted Liquidity's six-year-old AI-driven asset management strategy, leveraging generative AI & ML to perform due diligence on nearly 7000 companies yearly in order to underwrite growth-stage financing of $35mm in average size.
TechCrunch featured Dragon Fund’s key role in the landmark merger between Cohesity and Veritas’ enterprise data protection business, creating a new world leader in data protection and security.
Liquidity’s CSO Carmen James was referenced as an Industry Leader in Private Debt Investor Article "Private debt still slow to embrace AI"
Ridhi Chaudhary, Chief Investment Officer at Dragon Fund, spoke with Mint on Dragon Fund's investment strategy, its recent deals and future plans.
Liquidity portfolio company InMobi is leveraging generative AI for its next growth phase, with plans to launch its AI-powered advertising platform in the US in three to four months and globally within six, while preparing for an IPO in about 12 months.
Read the Story HERE
LIQUiDITY is rapidly expanding its global footprint and is now offering exciting career opportunities across multiple regions. We’re looking for talented individuals to join our team and help shape the future of certainty.
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Loans made or arranged pursuant to the California Financing Law license are made by LQC SP1 LLC