Apollo Global Management Inc. has committed to invest as much as $500 million to alternative investment firm Victory Park Capital as it looks to lend more to companies with limited cash but potential to grow.

The new partnership will focus on asset-backed lending to businesses that aggregate third-party sellers on Amazon.com Inc. and other e-commerce sites, marking Apollo’s entry into growth lending, according to a statement. The lending will be arranged through senior secured credit facilities originated by Victory Park.

“One of the hallmarks of what we do in structured credit is look for companies with good business models and predictable recurring revenues, then find better ways to lend to them — that means safely, longer and under less restricted terms,” Bret Leas, Apollo senior partner and global head of structured corporate credit & ABS said in a phone interview.

The infrastructure to lend to companies that don’t necessarily have positive cash flow but have predictable, recurring revenue and a path to profitability has grown. This is creating strategic investment opportunities, he said. Apollo offers a flexible and more competitive cost of capital because of its scale, helping fill a gap in this type of lending as banks have withdrawn, Leas added.

The relationship with Victory Park will help Apollo and its clients invest in growth-oriented lending and extend its reach from early-stage structured credits up through mid-market and large-cap lending, he said. Apollo had approximately $461 billion assets under management as of March 31.

Victory Park will use the funding to accelerate its investments in growth-lending to emerging e-commerce companies. The firm originates loans as large as $500 million to those fast-growing companies, according to Richard Levy, Victory Park’s chief executive officer and founding partner. It has invested about $6 billion across more than 120 investments, according to its website.

“There’s really an insatiable appetite amongst the platforms that are really taking market share away from your analog retail businesses,” Levy said in a phone interview. “Apollo is helping us meet this growing appetite amongst our borrowers that doesn’t seem to be stopping anytime soon.”

Apollo’s financing commitment with Victory Park complements its large-cap and middle-market lending, in addition to its credit strategies across capital markets, real estate and other forms of partnership capital, according to the statement.