Walden Israel Closes Shop

waldenWalden Israel, one of Israel’s oldest venture capital funds, is closing its doors after failing to raise sufficient capital for its follow-on fund. Walden is following several Israeli Venture Capital Funds who failed to raised follow-on commitments and subsequently decided to close doors:Concord Ventures, Delta Ventures, Israel Seed Partners, and Star Ventures.

According to its original plan, Walden planned to raise a fourth follow-on fund of $125M, starting with commitments for $70M. In reality however, Walden was only able to secure commitments for $35 million, which brought the partners to the decision to close the fund. Meanwhile, Walden plans to continue supporting and financing the fund’s portfolio companies that include: data security company Safend, high-def video connectivity manufacturer Amimon, and many others. As seen below, Walden’s portfolio in Israel was mostly comprised of enterprise software and communications/ internet infrastructure.

walden portfolio

Roni Hefetz, founder and general partner at Walden Israel, said:

“We’ve run out of money for new investments and we initiated financing for a new fund. We obtained a number of commitments, but failed to reach our first closing target. We decided not to continue, and we won’t make new investments. We don’t feel bad. At least the decision wasn’t taken because we have a bad portfolio or dissatisfied investors.”

Walden Israel is a branch of San Francisco headquartered Walden International. The International fund was founded in 1987 and has $1.6 billion under management.

See article on Globes for more coverage.

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Co Founder and Managing Partner at Remagine Ventures
Eze is managing partner of Remagine Ventures, a seed fund investing in ambitious founders at the intersection of tech, entertainment, gaming and commerce with a spotlight on Israel.

I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.

I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
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