Israel Cleantech Ventures Exceeds Funding Expectations, Raises $75M

israel clean techToday (May 5th), Israel Cleantech Ventures (ICV) announced today that it reached a final close of $75 million for its first fund, significantly exceeding expectations from its original target of $60M. ICV will invest in Israeli companies (or Israel-realted) in renewable energy, water purification, energy efficiency and clean technology.

ICV is the first Israeli cleantech-focused investment fund. The fund is backed by high profile institutional investors and family funds in Europe, the US and Israel, including US-based investment bank Piper Jaffray and Netherlands-based asset manager Robeco Private Equity.

Established in 2006, ICV is managed by a team of veterans: Jack Levy, Meir Ukeles and Glen Schwaber. The fund has made seven investments to date in various areas of clean tech:

More investments are expected in the near term according to ICV partner Jack Levy. In the official press release, Danny Zouber, principal at Piper Jaffray Private Capital said:

“As we completed the diversification for the first U.S.-based cleantech fund of funds, it was important for us to have exposure to the leading-edge innovation in alternative energy, advanced materials and water technologies taking place in Israel. Israel Cleantech Ventures offers our investors a level of expertise and experience in those sectors that will enhance our overall portfolio.”

Last month, ICV was ranked among the top five international cleantech investors, with $16.6 million invested in Q4 2007. The same quarter was also Israel’s highest level of investment in cleantech ever, with $132 million raised across 9 companies. Find out more about Clean Tech Investing in Israel in Jonathan Shappira’s blog.

Eze Vidra
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Eze Vidra

Chief Innovation Officer at Antidote
Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Ezewas a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
Eze Vidra
Follow me

Eze Vidra

Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Eze was a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google’s first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He’s an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.