Apollo Global Management Inc is helping fund the growing venture capital business of Chase Coleman’s Tiger Global Management, one of the most active investors in closed-end tech companies last year.

In the first six months of this year, Apollo’s Athene insurance business affiliates took out at least $330 million in loans secured by assets from Tiger Global’s venture fund, mostly their stakes in private companies, state regulatory filings show. While JPMorgan has been a major provider of such loans, Tiger Global has been looking to diversify the sources of loans for its venture capital business.

Tiger Global has raised more than $19 billion through its two most recent venture funds and is seeking $6 billion for its next fund. Based on the number of deals involved, CB Insights ranked the money manager as the most active venture investor last year.

Venture funds replenish their capital by borrowing against their holdings, an arrangement is known as a net asset value loan. At Tiger Global, the size of each loan is typically equivalent to around 10% of the assets used as collateral, a ratio that minimises the lender’s risk.

Coleman founded Tiger Global in 2001 to manage its flagship hedge fund, while firm partner Scott Shleifer oversees the venture capital division.

The combined value of Athene’s various Tiger Global assets totalled $531 million at the end of June, making the fund manager one of the insurer’s most significant investments in a single company, according to a quarterly regulatory filing that did not contain asset details.

In February, Athene Annuity & Life Co provided a $160 million face value of a venture capital loan with an annual interest rate of 4.38%, according to a filing. Another showed that Athena Annuity and Sister Insurance provided an additional $170 million in venture capital debt at 6.58% interest in May.